EQS-News

Haier Smart Home publishes figures for financial year 2023: outstanding performance in China and overseas

EQS-News: Haier Smart Home Co.,Ltd. / Key word(s): Annual Report/Annual Results Haier Smart Home publishes figures for financial year 2023: outstanding performance in China and overseas 27.03.2024 / 16:28 CET/CEST The issuer is solely responsible for the content of this announcement. Haier Smart Home publishes figures for financial year 2023: outstanding performance in China and overseas

• Total Revenue of RMB 261.43 billion (previous year: RMB 243.58 billion (restated))
• Net Cash Flow increased by 24.7% to RMB 25.26 billion
• Proposal to increase the dividend payout ratio for financial year 2023 to 45%

Qingdao / Shanghai / Hong Kong / Frankfurt, 27 March 2024 - Haier Smart Home Co., Ltd. ("Haier Smart Home" or "the Company", D-share 690D.DE, A-share 00690.SH, H-share 06690.HK), today published its annual report for the year 2023. The Company continued its positive performance in the reporting year and achieved a YoY growth in revenue of 7.3% with revenue amounting to RMB 261.43 billion. Net profit attributable to the owners of the parent company amounted to RMB 16.60 billion, which corresponds to an increase of 12.8% compared to the previous year. The net cash flow arising from operating activities was at RMB 25.26 billion, representing a YoY growth of 24.7%.

Casarte continues to increase its market shares thanks to innovation in brand and products

Haier´s premium brand Casarte maintained its leading position in the high-end appliance market also in 2023. Casarte increased its market shares in China in various business segments in the premium market: according to GfK China Market Monitor, Casarte recorded a retail sales share of 50% in the market of refrigerators priced above RMB 15,000, of 84% in the market of washing machines priced above RMB 10,000 and of 28% in the market of air conditioners priced above RMB 15,000.

Moreover, Haier Smart Home continued to increase its market shares of its top ranked refrigerator and washing machine segments regardless that the home appliance market did not fully recover in 2023 as expected. In China, Haier´s market share of refrigerators increased in fact to 45.2%, meanwhile the market share of washing machines climbed up to 47.5%. Also Haier’s air conditioning segment achieved an increase in revenue and profit in the reporting year with a market share in China of 37% for high-end products priced RMB 10,000 or above. Furthermore, the air-conditioning business reported an increase of the operating profit margin by 1.4 percentage points thanks to a 20% growth of heat pump business, in which the Company has also been unleashing its potential.