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Haier Smart Home announces first quarter 2022 financial results: solid operating business continues previous year's growth trend

DGAP-News: Haier Smart Home Co.,Ltd. / Key word(s): Quarterly / Interim Statement/Quarter Results Haier Smart Home announces first quarter 2022 financial results: solid operating business continues previous year's growth trend 28.04.2022 / 18:12 The issuer is solely responsible for the content of this announcement. Haier Smart Home announces first quarter 2022 financial results: solid operating business continues previous year's growth trend

- Revenue increased by 10% YoY

- Gross profit margin of 28.5%, up 0.05 pp YoY

- Casarte remains the leading high-end brand in China. Revenue up 32.3% YoY

Qingdao / Shanghai / Hong Kong / Frankfurt, 28 April 2022 - Haier Smart Home Co., Ltd. ("Haier Smart Home" or "the Company", stock code: 690D.DE, 600690.SH, 6690.HK), today published its Q1 2022 report.

Haier Smart Home reported a stable growth despite a challenging market environment, confirming the positive trend reported in the financial report 2021, published on 30 March this year. The Company achieved a revenue of RMB 60.25 billion in Q1 2022, up 10% YoY. The net profit attributable to the owners of the Company was RMB 3.52 billion. This reflects a growth of 15.1% compared to Q1 2021.

Casarte recorded high-growth trend with revenue increase by 32.3%

The home appliance market in China has shown great potential for expansion due to the increase of household purchasing power and a general positive sentiment on the market. This has led to more growth opportunities for high-quality home appliance products. In this context, Casarte, the high-end brand of Haier Smart Home for home appliances, continued to develop its competitive advantages from its products, distribution channels and marketing.

The high-end brand reported in Q1 2022 an increase in revenue of 32.3% compared to Q1 2021. Particularly, the business of kitchen appliances, air conditioners and washing machines achieved good results. In the first quarter of 2022, the revenue from the kitchen appliance business increased by 70.3% compared to Q1 2021. The market share of Casarte's air conditioner business was 24.3% in Q1 2022, up 4.8 percentage points (pp) compared to the same period of the previous year.