EQS-News

Haier Smart Home reports robust Financial Performance for Q1 2024, leveraging on Sustainability and Digital Innovation

EQS-News: Haier Smart Home Co.,Ltd. / Key word(s): Quarterly / Interim Statement/Quarter Results Haier Smart Home reports robust Financial Performance for Q1 2024, leveraging on Sustainability and Digital Innovation 29.04.2024 / 14:15 CET/CEST The issuer is solely responsible for the content of this announcement. Haier Smart Home reports robust Financial Performance for Q1 2024, leveraging on Sustainability and Digital Innovation

• Total Revenue of RMB 68.98 billion, a 6.01% increase year-over-year (Q1 2023: RMB 65.07)
• Net Cash Flow from operating activities rose by 27.31% to RMB 1.72 billion
• Enhanced process efficiency and cost reductions through digitalization

Qingdao / Shanghai / Hong Kong / Frankfurt, April 29, 2024 – Haier Smart Home Co., Ltd. ("Haier Smart Home" or "the Company"), a global leader in smart home solutions (D-share 690D.DE, A-share 600690.SH, H-share 06690.HK), today announced its financial results for the first quarter of 2024.

Building on the momentum from its 2023 annual report, Haier Smart Home delivered a strong start to 2024, achieving a notable increase in total revenue and profit. Revenue reached RMB 68.98 billion, marking a 6.01% increase compared to the same period of the previous year. Net profit attributable to the owners of the parent company climbed to RMB 4.77 billion, up 20.16% year-over-year, while net profit after adjusting for non-recurring items grew by 25.41% to RMB 4.64 billion.

Innovation-driven growth with Casarte Brand

Casarte, the company's premium appliance brand, continues to lead in China’s high-end market, surpassing 20 million customers. At the recent Appliance & Electronics World Expo 2024, Asia's largest and one of the world's three largest international consumer electronics and smart home exhibitions, Casarte unveiled a strategic partnership with Boloni, a home furnishing company. At Milan’s International Furniture Fair (Salone del Mobilie Milano) Casarte blended design and technology showing fashionable combinations of refrigerators and kitchen cabinets, as well as refrigerators and wine cabinets, reflecting Haier´s commitment to luxury and performance.