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Haier Smart Home Co (600690) investor relations material

Haier Smart Home Co H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary28 Aug, 2025

Executive summary

  • Achieved revenue of RMB156.49 billion in H1 2025, up 10.2% year-over-year, with net profit attributable to shareholders rising 15.6% to RMB12.03 billion and net profit after non-recurring items up 15.2%.

  • Domestic revenue grew 8.8%, driven by product innovation and digital transformation; overseas revenue rose 11.7%, with strong growth in South Asia (+33%), Southeast Asia (+18%), and Middle East & Africa (+65%).

  • Maintained global leadership in major home appliances, ranking first in Asia, North America, and Australia/New Zealand by retail volume, and third in Western Europe.

  • Continued digitalization and AI integration across the value chain, improving operational efficiency, cost competitiveness, and user experience.

Financial highlights

  • Operating revenue: RMB156.49 billion, up 10.2% year-over-year.

  • Net profit attributable to shareholders: RMB12.03 billion, up 15.6% year-over-year.

  • Net cash flow from operating activities: RMB11.14 billion, up 32.2% year-over-year.

  • Basic EPS: RMB1.30, up 15.0% year-over-year; weighted average ROE: 10.34%.

  • Gross profit margin: 26.9%, up 0.1 percentage points; selling expense ratio: 10.1%, down 0.1 points.

  • Cash dividend proposed: RMB2.69 per 10 shares, totaling RMB2.51 billion (20.83% payout ratio).

Outlook and guidance

  • Domestic market: Focus on deepening digital inventory and marketing transformation, strengthening multi-brand synergy, and maintaining high-end leadership.

  • Overseas: Strategic upgrades, localization, and operational efficiency to drive further growth; continued integration of recent acquisitions.

  • Industry expects steady growth in China, gradual recovery in developed markets, and robust demand in emerging markets for smart and green appliances.

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Q3 202530 Oct, 2025
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Frequently asked questions

Haier Smart Home Co., Ltd., formerly known as Qingdao Haier Co., Ltd., is a company that specializes in the development, production, and sale of smart home appliances. The company offers a wide range of products including refrigerators, freezers, washing machines, air conditioners, water heaters, kitchen appliances, and small home appliances. It is also involved in providing integrated smart home solutions and operates through business segments that include China Smart Home Business, Overseas Home Appliance and Smart Home Business, and Other Business. Additionally, Haier Smart Home is engaged in various service businesses encompassing logistics and distribution of home appliances. The company's products are distributed both domestically and internationally. The company is headquartered in Qingdao, China, and its shares are listed on the Hong Kong Stock Exchange.

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