EQS-News: Haier Smart Home Reports Q1 2025 Results: Solid Growth and Elevated Consumer Experience through AI-Driven Innovation

Haier Smart Home Reports Q1 2025 Results: Solid Growth and Elevated Consumer Experience through AI-Driven Innovation

• Revenue reached RMB 79.12 billion, up 10.1% YoY (Q1 2024: RMB 71.89 billion (restated))
• Net cash flow from operating activities amounted to RMB 2.28 billion
• Overseas revenue grew 12.6% YoY, reflecting continued resilience amid global challenges

Qingdao / Shanghai / Hong Kong / Frankfurt, 29 April 2025 – Haier Smart Home Co., Ltd. ("Haier Smart Home" or “the Company”, D-share: 690D.DE, A-share: 600690.SH, H-share: 06690.HK), a global leader in smart home solutions, today announced its financial results for the first quarter of 2025.

In Q1 2025, the Company maintained its growth momentum from 2024, delivering total revenue of RMB 79.12 billion, up 10.1% YoY. Net profit attributable to the parent company reached RMB 5.49 billion, representing a 15.1% increase, while net profit attributable to the parent company excluding non-recurring items grew 15.6% YoY to RMB 5.36 billion. Net cash flow from operating activities improved to RMB 2.28 billion, up 15.1% YoY.

Product Mix Optimization Strengthens High-End Leadership; Casarte Grows by 20% YoY
In Q1 2025, China's home appliance industry remained resilient, supported by government subsidies and innovation. Haier Smart Home advanced its strategy of selling premium product suites, aligning with trends in health, comfort, energy efficiency, and smart technologies.

In the refrigeration segment, models priced above RMB 10,000 reached a 64% offline market share, up 10 ppt YoY, while ultra-premium models above RMB 20,000 maintained 85% market share.

In the water purification segment, Haier launched several high-end products, including Wi-Fi-enabled dual-tank electric water heaters, OT-function condensing gas boilers, integrated heat pumps, and coil water tanks. These offerings drove a 264% YoY increase in retail sales.

Casarte maintained strong momentum with over 20% YoY domestic revenue growth. In the air conditioning category, the Casarte Star Pleasure (Exclusive Edition) wall-mounted unit, equipped with bidirectional temperature-balancing technology, sold 27,000 units in Q1 2025, ranking second in its price segment. The cabinet version, featuring dual-system independent control, recorded 10,000 units in sales and ranked first in its price segment.

AI Deployment Unlocks New Smart Living Experiences
Haier Smart Home accelerated AI deployment to enhance consumer experience. At AWE 2025 (Appliance & Electronics World Expo exhibition in Shanghai), the Company introduced its “AI Vision” technology, enabling smart appliances not only to process voice commands but also to visually interpret their surroundings – bringing the vision of unmanned housework closer to reality. Integration with SAN YI NIAO scenario-based AI further enables personalized, intelligent living environments.

Overseas Business Maintains Resilience with YoY Revenue Growth of 12.6%
In Q1 2025, Haier Smart Home demonstrated strong resilience to global economic headwinds by leveraging its global R&D network and advancing digital transformation. The Company further expanded its presence in emerging markets and strengthened localized production capabilities to enhance regional supply chain resilience:

• North America: Revenue from high-end brands recorded double-digit growth, while revenue from HVAC (Heating, Ventilation and Air Conditioning) tripled YoY.
• Europe: Revenue increased by 31.4% YoY (including Carrier Refrigeration Benelux B.V.). The X11 washing machine series ranked No.1 in the segment above EUR 1,000, while three-door and multi-door refrigerators achieved over 50% market share, maintaining the leading position.
• Emerging Markets: Robust growth continued, with revenue rising over 20% overall. By region: South Asia grew by more than 30%, Southeast Asia by over 20%, and Middle East & Africa by more than 50% YoY.

Product Innovation and Efficiency Improvement Driven by Digital Transformation
In Q1 2025, digitalization continued to enhance Haier Smart Home’s operational efficiency and profitability. Retail transformation initiatives, including digital inventory management and digital marketing, drove improvements in inventory turnover, logistics efficiency, and marketing ROI. As a result, the Company reduced its selling expense ratio to 9.6%, an improvement of 0.1 ppt YoY, while its administrative expense ratio fell to 3.1%, representing a YoY improvement of 0.1 ppt.

Leveraging its AI-driven cloud platform, Haier Smart Home strengthened consumer engagement and accelerated product co-creation, enabling faster innovation and delivering smart, consumer-centric solutions.

The Q1 2025 financial report, as of 31 March 2025, is available online at https://smart-home.haier.com/en/.

IR Contact:
Haier Smart Home Hong Kong
T: +852 2169 0000
Email: ir@haier.hk

Press Contact:
CROSS ALLIANCE communication GmbH
Sara Pinto
Sven Pauly
pi@crossalliance.de
T: +49 (0) 89 1250903 35
 

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, Candy, GE Appliances, AQUA and Fisher & Paykel. 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.