EQS-News

Haier Smart Home publishes financial report for Q3 2023: steady revenue growth with overseas business outperforming industry - Seite 2

The market shares of refrigerator and washing machine of all Haier Smart Home brands continued to grow significantly with an increase for refrigerators by 45.4% and the share of washing machines increasing by 46.7%.

The smart-building segment has also developed new growth points such as intelligent building control, heat pump heating and industrial environment. In addition, the share of kitchen appliances continued to increase, ranking TOP3 offline in the industry.

Overseas business continued to outperform the industry

Haier Smart Home continued to develop its high-end brand strategy and achieved steady growth by improving the brand image and defining new business segments.

In Europe, Haier brand launched new embedded high-end set design products, achieving a 35% increase in revenue of high-end products. Regarding brand development, Haier upgraded the Candy brand and promoted a new brand image: the Company launched a new high-end set of new Candy products at the IFA exhibition, the world's largest consumer electronics and home appliances trade show, in September 2023, including A-class energy-efficient smart refrigerator Fresco, A-class energy-efficient dishwasher Rapidò and a new series of intelligent ovens.

Moreover, Haier Smart Home laid out the eco-park in Egypt and the kitchen appliance factory in Pakistan, strengthened the zero-distance interaction with users, and became a partner of the prestigious Roland Garros tournament and the ATP Tour, enhancing the brand's image and popularity.

Efficiency further improved through ongoing digital transformation

In the first nine months of 2023, Haier Smart Home continued to deepen its digital transformation through the reconstruction of goals, organizations, mechanisms and processes, and continued to reduce costs and improved efficiency. Company´s expense rate was optimized by 0.3 percentage points in the first three quarters of 2023.

Moreover, Sustainability and ESG matters continue to be of great importance for Haier and are one of the fundaments of the Company´s corporate strategy. Since 2020, Haier´s ESG performance has been rated by Morgan Stanley Capital International (MSCI) and this year, the Company achieved an upgrade of its ESG rating to the highest grade of A in the domestic industry.