Accelerate internal efficiency and external expansion! Haier Smart Home will focus on four major directions by 2026.

On the evening of March 26, 2026, Haier Smart Home (600690.SH) delivered a robust and record-breaking performance: for the first time, its total revenue for the year 2025 reached 302.347 billion yuan, a year-on-year increase of 5.71%; net profit attributable to the parent company was 19.553 billion yuan, and net profit after deduction was 18.604 billion yuan, both marking year-on-year growth of 4.39% and 4.49%, respectively, setting new historical records.

Even more impressive, the net cash flow from operating activities was 26.003 billion yuan, 1.33 times the net profit. In today’s “cash is king” environment, strong cash flow solidifies its risk-resilient foundation, showcasing its robust development quality.

Under the dual pressures of domestic demand contraction and increasing overseas trade barriers, Haier Smart Home has leveraged ecological innovation, global deep cultivation, and AI digital transformation, persisting in accelerating internal efficiency while expanding externally, achieving steady growth against the trend and laying a solid foundation for high-quality development in 2026.

1. Navigating Cycles for Steady Growth: Leading in Domestic Ecology, Dominating Overseas Markets

In 2025, the home appliance industry faced intensified challenges, with domestic fourth-quarter demand down 25% year-on-year and overseas tariffs and non-trade barriers continuing to exert pressure. Haier Smart Home broke through the challenges with cross-border ecological layout and global localized operations.

In the domestic market, Haier Smart Home shattered industry boundaries, constructing a comprehensive ecosystem for large kitchens and HVAC, with core categories consistently leading the market. Haier refrigerators hold a 47.7% share, maintaining the industry’s top position; washing machines reached 47.4%, and water heaters 32.5%, both securing the top spots in their respective markets; global sales of household air conditioners grew by 14.8%, leading the industry in scale growth; commercial air conditioners also achieved double-digit high growth, thanks to their top share in multiple categories.

At the same time, the company seized opportunities in AI and the silver economy, launching three types of household robots at the AWE exhibition to promote the integration of smart appliances and robotics, realizing scenarios of “unmanned chores” and “smart care.”

Multi-brand collaboration has formed differentiated barriers. The Casarte brand continues to lead the high-end market, achieving double-digit revenue growth in 2025 and dominating the high-end refrigerator and washing machine markets above 10,000 yuan. The Leader brand, targeting younger consumers, with co-created hit products like the “lazy three-tub washing machine,” saw its annual revenue surpass 10 billion yuan for the first time, with a year-on-year growth of 30%, becoming a strong new growth engine. Haier brand achieves double first place in both online and offline shares, while the L4-level intelligent system Seeker redefines whole-home smart standards.

The overseas market has shown stronger growth resilience. According to financial reports, Haier Smart Home’s overseas business revenue reached 154.545 billion yuan in 2025, a year-on-year increase of 8.15%, significantly outperforming the industry. Revenue from high-end brands in the U.S. market grew by 7%, ranking first in the industry for four consecutive years; revenue in the European market increased by 19.9%, with a market share in white goods ranking first among Chinese companies; in Australia and New Zealand, both Haier and Fisher & Paykel brands dominated the local large appliance market; revenue in the Japanese market grew by 10.3%; in emerging markets such as Southeast Asia, South Asia, and the Middle East and Africa, revenue grew year-on-year by 13.4%, 23.2%, and 55.8%, respectively, becoming new engines of overseas growth.

2. Digital Transformation Enhances Efficiency: Strategic Investment Builds Barriers, Short-term Gains for Long-term Value

This globally blooming performance is inseparable from Haier Smart Home’s “heavy investment” in the underlying supply chain. In 2025, Haier Smart Home invested nearly 8.9 billion yuan in global supply chain construction and R&D, covering projects such as the U.S. GE Appliances large drum project, the refrigerator project in Egypt, and the air conditioning and commercial air conditioning projects in Thailand and Jiaozhou.

In 2025, Haier Smart Home fully implemented AI and digital transformation, heavily developing the “Universal Unified Warehouse TC Customer Platform” and “User Full Lifecycle Experience Management Platform,” streamlining the entire transaction, delivery, and service chain to achieve logistics efficiency, experience upgrades, and cost optimization, with the overall expense ratio optimized by 0.23 percentage points year-on-year.

In the short term, Haier’s strategic layout and investment in overseas factories and AI R&D have objectively imposed temporary pressure on the company’s short-term performance growth. However, from a long-term business perspective, by perfecting the global supply chain network, Haier Smart Home has significantly hedged against future trade and logistics risks; by enhancing AI technology R&D, it builds technological moats and differentiated competitive barriers. Using short-term expense growth to exchange for long-term competitiveness across cycles, this calculation is profoundly deep for Haier Smart Home.

3. Aiming for 2026: Anchoring Four Major Directions, Creating a New Engine for High-Quality Development

Based on the steady foundation in 2025, Haier Smart Home has clearly defined its four major directions for growth in 2026, combining internal and external efforts, aiming to further expand its leading position in the global business landscape.

First, fully promote TC transformation and AI full-process efficiency enhancements. The universal unified warehouse TC platform eliminates intermediate links, allowing products to reach users directly, simplifying transaction links, and assisting customers in low-asset operations; the user full lifecycle management platform covers the entire process of interaction, purchase, installation, maintenance, and replacement, achieving lifetime user operation through transparent services, fully enhancing efficiency and experience.

Second, reconstruct the second growth curve through integrated HVAC. The company integrates home air conditioning, smart buildings, and water network businesses to create a large HVAC industry, upgrading from single product sales to comprehensive home climate solutions. Internally, it integrates R&D, supply chain, and channel resources to optimize cost structures; externally, it provides integrated air and water services to enhance customer value. Relying on core technologies such as magnetic levitation and CO? refrigeration, it seizes market opportunities in green buildings and data centers, aiming to increase the revenue proportion of large HVAC from 1/4 to 1/3 or even higher.

Third, reconstruct overseas brand creation capabilities to accelerate global growth. Streamlining the European management structure improves operational efficiency and releases profit margins in the Australian market; leveraging the Chinese product platform to create hit products opens up mid-to-high-end markets in Southeast Asia and South Asia; closely targeting potential markets like India to capture high-end shares with proprietary brands, making emerging markets the core engine of overseas growth.

Fourth, layout new tracks in household robotics and smart health care. Continuously deepening the integration of AI technology with home appliances, improving the matrix of household robots and smart care products, seizing the opportunities of the silver economy and smart home dividends, opening up new growth spaces, and building new pillars for future business.

From producing products to creating ecosystems, from going global to leading worldwide, every step of Haier Smart Home is solid and far-reaching. The call for 2026 has already sounded; internally enhancing efficiency and accumulating strength, externally expanding territory, a more agile, more globalized, and more technologically enriched Haier Smart Home is on its way to a higher industrial peak. (Produced by “Wealth Weekly - Financial Affairs”)

Disclaimer: The opinions expressed in this article do not constitute any investment advice. Investors act based on this at their own risk.

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