Haier Smart Home Q1 revenue increased by 10% year-on-year, net profit increased by 15%, and the high-end brand Casarte grew by over 20% | Financial Report Insights

Haier Smart Home's revenue in the first quarter of 2025 increased by 10.06% year-on-year, and net profit grew by 15%. The Chinese market continues to promote digital inventory and digital marketing transformation, with the high-end brand Casarte seeing an increase of over 20%, and overall revenue in overseas markets growing by 12.6%.

On the 29th, Haier Smart Home announced its financial report for the first quarter of 2025:

• Revenue 79.118 billion yuan, a year-on-year increase of 10.06%;
• Net profit attributable to shareholders 5.487 billion yuan, a year-on-year increase of 15.09%;
• Net profit excluding non-recurring items 5.364 billion yuan, a year-on-year increase of 15.61%;
• Gross profit margin 25.4%, an increase of 0.1 percentage points year-on-year.

Revenue Growth in the Chinese Market: 7.8%, High-end Brand Casarte Becomes the Core of Growth

Against the backdrop of a complex macro environment and rising raw material costs, the gross profit margin slightly increased to 25.4%, demonstrating the company's effectiveness in cost control. In the domestic market,

the financial report shows that revenue in the Chinese market increased by 7.8% year-on-year. The high-end brand Casarte saw an increase of over 20%, indicating significant progress in the high-end market. At the same time, the company is actively embracing digital transformation, enhancing operational efficiency through deepening digital inventory and digital marketing reforms.

In terms of digital inventory transformation, the home air conditioning industry has introduced over 60 new POP professional clients, with POP channel retail sales growing by over 100%. In digital marketing, the Haier brand actively searched for share of voice (sov), increasing by 140%, and launched several popular products such as the Leader lazy three-tube washing machine, Haier MaiLang refrigerator, and Haier little blue bottle water heater.

Overseas Market: Blossoming in Multiple Areas, Accelerating Global Strategy

Haier Smart Home's performance in overseas business is also commendable. Overall revenue from overseas markets increased by 12.6% year-on-year, reflecting the effectiveness of the company's layout in high-end brands and localization strategies. Specifically:

• North American Market: Revenue from high-end brands achieved double-digit growth, and emerging industries (such as HVAC) also saw triple-digit growth.
• European Market: In markets such as Italy, France, the UK, and Spain, the market share of refrigerators and washing machines has improved.
• Emerging Markets: Rapid growth has been maintained in South Asia, Southeast Asia, and the Middle East and Africa, especially in countries like India, Vietnam, Thailand, and Egypt, where significant market share increases have been achieved.

Haier Smart Home is currently driving product upgrades and channel innovation based on the three pillars of "technology + brand + digitalization." The high-end brand Casarte has become the core of growth, and the implementation of AI technology optimizes user experience. These layouts align with the industry's trend towards high-end and intelligent development. The high emphasis on overseas markets and collaboration with localized manufacturing will be a continuous support point for future performance