- Haier Smart Home Reports Q1 2026 Results
Apr 27, 2026
Revenue of RMB 73.69 billion Net profit attributable to shareholders of the parent company of RMB 4.65 billion, up sequentially compared to Q4 2025 Basic EPS of RMB 0.50 China operating profit grew year-on-year; excluding North America, the Company's combined operating profit advanced more than 10% year-on-year. 74.54 million A-shares designated for cancellation; D-share buy-back-for-cancellation proposed.
QINGDAO, SHANGHAI, FRANKFURT and HONG KONG - April 27, 2026 (NEWMEDIAWIRE) - Haier Smart Home Co., Ltd. (A-share: 600690.SH; H-share: 06690.HK; D-share: 690D.DE), a global leader in smart home solutions, today announced its results for the quarter ended 31 March 2026.
Management Commentary
This was a quarter of contrasts. Both China and our core international markets sustained healthy momentum. North America faced meaningful headwinds from the evolving trade policy landscape and severe winter weather.
We are running a clear playbook in North America: reshaping our local supply chain, advancing sourcing actions, moving the product mix upmarket, and driving cost productivity. We have transitioned from the initial response phase into the next chapter, focused on operational efficiency and capability rebuilding. We expect this work to return our North America business to a more resilient, higher-quality operating model and position it to capture the long-term opportunity ahead.
Our globally-enabled, local-for-local model - built across a portfolio of brands and core markets - gives us the confidence to navigate complex environments. We will continue to deliver high-quality growth and stronger returns to shareholders through any cycle.
- Li Huagang, Chairman and Chief Executive Officer, Haier Smart Home Co., Ltd.
Operational Review
China
Operating profit in China grew year-on-year, with margin expansion offsetting short-term revenue pressure in a home appliance market that contracted 6.2% by retail value (according to All View Cloud (AVC)). Profit growth reflected a continued mix shift toward premium categories, which lifted domestic gross margin. Residential air conditioning grew revenue against a sharp industry decline and extended its high-end leadership, now ranking No. 1 in the RMB 11,000+ price band, up from its prior top position in the RMB 15,000+ segment (according to GfK). In water solutions, top-rated energy-efficient gas water heaters accounted for a materially higher share of the Company's portfolio than the industry average (GfK).
AI and digital capabilities also lifted operating efficiency, with gains in inventory turnover, fulfilment and resource allocation, and a year-on-year decline in the selling expense ratio.
International
Overseas revenue declined 3.2% year-on-year. Outside North America, both revenue and operating profit grew, with Europe, South Asia and Southeast Asia all delivering steady growth.
North America: GE Appliances was pressured in Q1 2026 by severe winter weather and the evolving trade policy landscape. The business has been advancing supply chain and sourcing actions, mix and price initiatives, and cost productivity to rebuild competitiveness for the new trade environment.
Europe: Revenue continued to grow, with HVAC up more than 20% year-on-year. Profitability improved as the benefits of 2025's restructuring flowed through, and the premium Horizon refrigerator line accelerated its rollout.
Emerging markets: South Asia grew by 17% year-on-year in terms of revenue and profitability improved; Southeast Asia grew by 12%.
New Growth Businesses
The Company advanced its initiative - announced at the end of 2025 - to bring residential air conditioning, smart building and water solutions onto a unified platform. In Q1 2026, the platform delivered its first integrated solution, with its public debut at a domestic HVAC industry expo in Shijiazhuang. The Company also launched a new residential central air conditioning unit featuring ultra-wide frequency operation from 4Hz, built on the platform's shared technology architecture. Smart Building Solutions completed more than 100 commercial AI deployments across data centres and building energy management.
Recent acquisitions: CCR (Carrier Commercial Refrigeration) and Kwikot each delivered double-digit revenue growth in the quarter, extending the strong trajectory established since joining the Company.
Shareholder Returns
The Company is stepping up shareholder returns through a sustained programme of buybacks and cancellations.
74.54 million A-shares repurchased during 2023–2026 are designated for cancellation, accretive to EPS upon completion. In March 2026, the Company launched a new A-share buyback of RMB 3-6 billion over 12 months, of which RMB 600 million has been deployed to date. The Company has also proposed a separate voluntary D-share buy-back-for-cancellation offer of up to approximately 81 million shares, subject to shareholder approval and other pre-conditions.
Contacts
Investor Relations:
Haier Smart Home (Hong Kong)
T: +852 2169 0000
E: ir@haier.hk
Media Contacts:
CROSS ALLIANCE communication GmbH
Irmi Aigner / Sven Pauly
T: +49 (0) 89 1250903 33
E: ia@crossalliance.de
About Haier Smart Home Co., Ltd.
Haier Smart Home is the world's largest home appliance company and a global leader in smart home solutions. Its core appliance portfolio spans refrigerators, washing machines and kitchen appliances, complemented by an integrated HVAC platform - covering residential air conditioning, smart building solutions and water solutions - and a commercial refrigeration business, all connected through its smart home platform.
Operating localised R&D, manufacturing and commercial capabilities across its core markets worldwide, the Company's portfolio of brands - Haier, Casarte, Leader, GE Appliances, Candy, Fisher & Paykel and AQUA - serves consumers across the full price spectrum in over 200 countries and regions. This global enablement, local execution' model underpins the Company's competitive position in every market it serves.
The Company is committed to evolving from a global appliance leader into a user-centric, platform-based smart home ecosystem company, with premiumisation, global operations, digitalisation and AI-enabled capabilities as its core strategic pillars.
Forward-Looking Statements
The forward-looking statements contained in this press release are based on management's current expectations, estimates and assumptions, and involve known and unknown risks and uncertainties, including but not limited to: changes in the macroeconomic and financial market environment; currency fluctuations; adjustments to international trade policy (including tariffs and export controls); shifts in consumer demand in the Company's key markets; evolving industry competition; volatility in raw material and energy prices; progress in technology and product development; the realisation of post-acquisition integration benefits and synergies; and regulatory developments in relevant jurisdictions. These factors could cause actual results to differ materially from those expressed or implied by the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements on the basis of the risk factors above or any other unforeseen factors, except as required by applicable law or regulation.
View the original release on www.newmediawire.com
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- GE Appliances Invests $150 Million in U.S. Suppliers in Reshoring Push
Nov 20, 2025
GE Appliances, owned by China’s Haier Smart Home, awarded $150 million in contracts to 22 American suppliers as it prepares to move manufacturing of some product lines to the U.S. from China. The investment adds to the appliance manufacturer's plan announced earlier this year to spend $3 billion over the next five years to expand and modernize its U.S. factories. The move is expected to help blunt the effects of new tariffs by reshoring some work from China and Mexico.
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- Haier Smart Home Powers Ahead in Q3 2025 With Quality Growth and AI-Led Efficiency
Oct 30, 2025
Revenue up 9.5% to RMB 77.56bn in Q3 2025 Net profit attributable to the parent company rises by 12.7% to RMB 5.34bn in Q3 2025 Nine-month operating cash flow reaches RMB 17.49bn
QINGDAO, SHANGHAI, HONG KONG and FRANKFURT - October 30, 2025 (NEWMEDIAWIRE) - Haier Smart Home Co., Ltd. (A-share: 600690.SH; H-share: 06690.HK; D-share: 690D.DE), a global leader in smart home solutions, today announced its results for the third quarter of 2025, delivering another period of strong, quality growth. The company's sharpened focus on premium product mix, AI-led operations, and user-centric manufacturing continued to result in higher revenue, profitability, and robust cash generation.
The core of Haier Smart Home's strategy is built around three pillars: developing high-velocity blockbuster products, embedding AI across the value chain, and bringing production closer to users. This combination is improving product mix, operational speed, and margins across the board.
Performance in China
In the domestic market, Haier continued to streamline its product portfolio around high-performing blockbusters and smart home suites that raise household value. As of the end of September:
Suite penetration reached 36% at Casarte and 15% at Haier. The Leader Multi-wash series surpassed 200,000 units sold.
AI-enhanced one-inventory operations led to higher customer conversion and fulfillment rates. County-level coverage expanded to 86%, and direct-to-user orders surged from 26% to 74% since April. The home air-conditioning segment, in particular, saw strong momentum driven by faster fulfillment, delivering revenue growth of more than 30% during the third quarter.
International Progress
Beyond China, Haier Smart Home's local-for-local manufacturing strategy and premium upgrade initiatives led to broad-based growth, even amid mixed global conditions:
In North America, the business remained resilient despite a soft housing market, as the premium mix improved and the Air & Water business posted ~20% year-on-year growth. In Europe, sales shifted toward higher-priced products - X-series units priced EUR 599+ rose from 17% to 25% of the total mix. HVAC revenue grew over 30% in the third quarter. Logistics and fulfillment were improved through a consolidated footprint and optimized EU distribution hub. In emerging markets, Haier's growth continued to accelerate thanks to manufacturing and channel expansion:
South Asia grew over 25%, Southeast Asia rose more than 15%, Middle East & Africa climbed more than 60% (nine-month basis).
In addition, the new air-conditioning park in Chonburi, Thailand, began production in September 2025. With a planned annual capacity of six million units, the park enhances Haier Smart Home's regional supply and export agility.
Disciplined Innovation and Outlook
Haier Smart Home continues to pair innovation with financial discipline. The company retained its AA ESG rating from MSCI and remains listed on the 2025 Fortune Global 500 (ranking of the TOP 500 largest corporations worldwide by total revenue).
Looking forward, the company plans to scale its blockbuster-and-suite strategy, deepen AI applications across planning, supply, and service, and expand regional teams' capabilities through local manufacturing to ensure faster responses to user needs across market cycles.
Investor Relations
Haier Smart Home Hong Kong
T: +852 2169 0000 | E: ir@haier.hk
Media Contacts
CROSS ALLIANCE Communication GmbH
Sara Pinto / Sven Pauly
T: +49 (0) 89 1250903 35 | E: pi@crossalliance.de
About Haier Smart Home Co., Ltd.
Haier Smart Home is a global leader in smart home solutions, offering a comprehensive portfolio that covers all aspects of modern living. Its offerings fall into four core categories: (1) major home appliances such as refrigerators, washing machines, and kitchen appliances; (2) HVAC products and solutions, including residential air conditioners, water heaters, commercial building systems, and commercial refrigeration; (3) smart devices and small appliances such as robotic vacuums and smart locks; (4) end-to-end value chain operations, including production of core components, smart logistics and supply chain management, and recycling. By delivering integrated smart-home experiences, Haier continues to shape the global smart-home industry. The Company distributes its products through a portfolio of world-renowned brands, including Haier, Casarte, Leader, Candy, GE Appliances, AQUA, and Fisher & Paykel.
Forward-Looking Statements
This press release includes forward-looking statements based on current assumptions and expectations. Actual results may differ materially due to risks and uncertainties. The company undertakes no obligation to update these statements, except as required by law.
View the original release on www.newmediawire.com
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- Whirlpool to Invest $300 Million in Ohio Factories
Oct 15, 2025
Appliance maker Whirlpool will spend $300 million to update two Ohio factories where it manufactures washers and dryers, aiming to keep its homegrown advantage as tariffs mount on competitors. The company said the investment in its plants in Clyde, Ohio, and Marion, Ohio, will allow for increased production of its next generation of washers and dryers and create 400 to 600 jobs. Whirlpool, which makes most of its products for U.S. consumers within the U.S., has said it will benefit from tariffs on foreign-made appliances, though some of its rivals are also expanding domestic production.
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- China’s Consumers Are Surprising Economists. Meet the ‘Bifurcated Shopper.’
Sep 21, 2025
These consumers are trading down on daily consumption, while selectively splurging on goods and experiences seen as long-lasting or meaningful.
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- Haier Smart Home Delivers Robust Double-Digit Revenue and Profit Growth in H1 2025
Aug 28, 2025
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- GE Appliances Plans $3 Billion U.S. Investment to Help Blunt Tariffs
Aug 13, 2025
GE Appliances said it plans to invest $3 billion to expand and modernize its U.S. factories over the next five years, helping to blunt the effects of tariffs by reshoring some work now done in China and Mexico. The appliance maker, owned by China-based Haier Smart Home said the money will go into factories in South Carolina, Tennessee, Georgia and Alabama. The investment will allow the factories to make new models of water heaters, air conditioners, gas ranges and refrigerators, and will create 1,000 jobs, the company said.
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- Haier Smart Home Co. Ltd. Financial and Strategic SWOT Analysis Review 2025
Jul 16, 2025
Company Logo
Learn about Haier's corporate strategies, key products, services, and competitors. Understand the global reach of the company headquartered in Qingdao, China. Ideal for business and academic research, it highlights important financial ratios and recent developments.
Dublin, July 16, 2025 (GLOBE NEWSWIRE) -- Haier Smart Home Co Ltd (600690) - Financial and Strategic SWOT Analysis Review has been added to ResearchAndMarkets.com's offering.
The review provides you an in-depth strategic SWOT analysis of the company's businesses and operations. The profile has been compiled to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better.
The profile contains critical company information including:
Business description - A detailed description of the company's operations and business divisions. Corporate strategy - Analyst's summarization of the company's business strategy. SWOT analysis - A detailed analysis of the company's strengths, weakness, opportunities and threats. Company history - Progression of key events associated with the company. Major products and services - A list of major products, services and brands of the company. Key competitors - A list of key competitors to the company. Key employees - A list of the key executives of the company. Executive biographies - A brief summary of the executives' employment history. Key operational heads - A list of personnel heading key departments/functions. Important locations and subsidiaries - A list and contact details of key locations and subsidiaries of the company. Detailed financial ratios for the past five years - The latest financial ratios derived from the annual financial statements published by the company with 5 years history. Interim ratios for the last five interim periods - The latest financial ratios derived from the quarterly/semi-annual financial statements published by the company for 5 interims history.
Haier Smart Home Co Ltd (Haier Smart Home) is engaged in the manufacturing, distribution, and marketing of home appliances. The company focuses on the research and development, production, and sales of smart home appliances and smart home scene solutions. The company provides refrigerators, freezers, washing machines, dryers, air-conditioners, range hoods, stoves, disinfection cabinets, integrated range hoods, electric water heaters, gas water heaters, small home appliances, televisions, dishwasher, microwave ovens, electric ovens, vacuum cleaners, air purifiers, water purifiers, electric fans, and electric heaters. The company has business operations in Mainland China, America, Australia, South Asia, Europe, Southeast Asia, the Middle East and Africa, and Japan. Haier Smart Home is headquartered in Qingdao, Shandong, China.
Key benefits of buying this profile include:
You get detailed information about the company and its operations to identify potential customers and suppliers.
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The profile analyzes the company's business structure, operations, major products and services, prospects, locations and subsidiaries, key executives and their biographies and key competitors.
Understand and respond to your competitors' business structure and strategies, and capitalize on their weaknesses. Stay up to date on the major developments affecting the company.
The company's core strengths and weaknesses and areas of development or decline are analyzed and presented in the profile objectively. Recent developments in the company covered in the profile help you track important events.
Equip yourself with information that enables you to sharpen your strategies and transform your operations profitably.
Opportunities that the company can explore and exploit are sized up and its growth potential assessed in the profile. Competitive and/or technological threats are highlighted.
Scout for potential investments and acquisition targets, with detailed insight into the companies' strategic, financial and operational performance.
Financial ratio presented for major public companies in the profile include the revenue trends, profitability, growth, margins and returns, liquidity and leverage, financial position and efficiency ratios.
Gain key insights into the company for academic or business research.
Key elements such as SWOT analysis, corporate strategy and financial ratios and charts are incorporated in the profile to assist your academic or business research needs.
A selection of companies mentioned in this report includes, but is not limited to:
Samsung Electronics Co Ltd Sony Group Corp Whirlpool Corp Toshiba Corp Panasonic Holdings Corp LG Electronics Inc
For more information about this swot analysis visit https://www.researchandmarkets.com/r/ow3wjy
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- GE Appliances to Reshore Washing-Machine Manufacturing From China
Jun 26, 2025
GE Appliances said it will spend nearly $500 million to shift production of washing machines from China to its home base in Louisville, Ky., a move that would create 800 jobs. The manufacturer, owned by China-based Haier Smart Home, said it aims to make its products close to its customers. While the move had long been planned, it said, the Trump administration’s tariffs on China accelerated the decision.
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- Haier Smart Home Successfully Completes Acquisition of Carrier Commercial Refrigeration
Oct 2, 2024
FRANKFURT, Germany and QINGDAO, China, Oct. 2, 2024 /PRNewswire/ -- October 1st 2024 (Beijing time), Haier Smart Home Co., Ltd. (listed on the Shanghai, Hong Kong, and Frankfurt stock exchanges; stock tickers: 600690.SH, 6690.HK, 690D.DE), a global leader in consumer electronics and home appliances, announced the successful completion of its acquisition of Carrier Commercial Refrigeration from Carrier Global Corporation (NYSE: CARR) for an enterprise value of approximately $775 million. The technologies related to commercial refrigeration that the company owns or is licensed to use, including carbon dioxide technology, will contribute to environmental improvements, promote green transformation in enterprises, and benefit society. This acquisition further enriches Haier Smart Home's diverse product portfolio and signifies an enhanced strategic positioning in the global commercial refrigeration market. The site of the closing for Haier Smart Home's acquisition of Carrier's Commercial Refrigeration business (PRNewsfoto/Haier Smart Home)
This acquisition follows the signing of definitive agreements on December 12, 2023 and represents a significant step forward in Haier's global growth strategy. The deal successfully closed after obtaining all necessary regulatory approvals and fulfilling a series of customary closing conditions, ensuring good coordination among all stakeholders and a smooth transition for the business.
"We are thrilled to welcome the 4,000+ Carrier Commercial Refrigeration employees into the Haier family," said Li Huagang, Chairman and CEO of Haier Smart Home. "This transaction not only broadens our product portfolio but also provides a unique opportunity to create a better and more sustainable solution provider from industrial & food retail refrigeration to cold storage. The well-known brands such as Carrier Commercial Refrigeration, Profroid, Celsior, and Green & Cool, along with their outstanding teams and key customers, will play a crucial role in our efforts to deliver more comprehensive and innovative product solutions to our increasingly diverse clientele."
"Joining Haier represents a fantastic opportunity for our business and team," stated Marcus Eisenhuth, CEO of Carrier Commercial Refrigeration. "Our team is astonished and touched by Haier's strong commitment and dedication to ensure a smooth business transition and obtaining all necessary approvals within the expected timeframe. During the joint process, we gained a better understanding of the unique Haier culture, the RenDanHeYi model, and the way Haier enables each individual. We look forward to the synergies this partnership will undoubtedly create."
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The acquisition enables Haier to broaden its reach from home refrigeration to the commercial refrigeration market, enhancing its ability to offer comprehensive refrigeration solutions to a broader clientele in the industrial, food retail and cold storage sectors.
About Haier Smart Home Co., Ltd.
Haier is one of the world's leading manufacturers of household appliances with a focus on smart home solutions and customized production. Haier Smart Home Co., Ltd. develops, produces and distributes a wide range of household appliances. These include refrigerators, freezers, washing machines, air conditioners, water heaters, kitchen appliances, small household appliances, and an extensive range of intelligent household appliances. The Company distributes its products through leading household brands such as Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, AQUA and Candy. Haier Smart Home Co., Ltd. has launched Smart Home Experiential Cloud in the Chinese market, which connects homes, users, enterprises and ecosystem partners, and facilitates the integration of Haier's online, offline and micro-store businesses and supports user interaction to further optimize the user experience.
SOURCE Haier Smart Home
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