Haier Smart Home Co., Ltd.

Latest Results (20.08.2024):

Revenue Growth

Haier Smart Home Co., Ltd. reported operating revenue of RMB261.428 billion for the 2023 financial year, marking a 7.3% increase from 2022. This growth was attributed to the company's multi-brand strategy, extensive product offerings, and enhanced retail capabilities, which allowed it to capture opportunities in various market segments.

Net Profit Increase

For the financial year ended December 31, 2023, Haier Smart Home Co., Ltd. achieved a net profit attributable to shareholders of RMB16.597 billion, representing a 12.8% increase from the previous year. After deducting non-recurring items, the net profit attributable to shareholders was RMB15.824 billion, reflecting a 13.3% growth compared to 2022.

Gross Profit Margin

Haier Smart Home Co., Ltd.'s gross profit margin reached 31.5% in 2023, up by 0.2 percentage points from the same period in 2022. The improvement in the domestic market was driven by lower commodity prices, digitalization in procurement and R&D, and an improved product mix. However, in overseas markets, the benefits were partly offset by intensified competition in key regions.

Selling Expense Ratio

The selling expense ratio for Haier Smart Home Co., Ltd. was 15.7% in 2023, a reduction of 0.2 percentage points compared to 2022. This improvement was due to digitally enhanced efficiency in resource allocation, logistics, and fulfillment in China. However, the overseas selling expense ratio increased due to intensified competition and higher spending on network expansion and promotions.

Administrative and Finance Expense Ratios

Haier Smart Home Co., Ltd. saw its administrative expense ratio decrease by 0.1 percentage points to 4.4% in 2023, driven by optimized business processes and improved organizational efficiency through digitalization. The finance expense ratio was recorded at 0.2% for the year.