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Agricultural Development Bank of China
China Brands

China's Haier Smart Home reports 9 pct revenue growth in 2019

April 30, 2020


Abstract : China's home appliance giant Haier Smart Home (600690.SH) reported on Thursday that its revenue grew 9.05 percent year on year to 200.762 billion yuan in 2019.

BEIJING, April 30 (Xinhua) -- China's home appliance giant Haier Smart Home (600690.SH) reported on Thursday that its revenue grew 9.05 percent year on year to 200.762 billion yuan in 2019.

The company's net profit attributable to its shareholders last year reached 8.206 billion yuan, up 9.66 percent year on year, according to its filing to the Shanghai Stock Exchange.

In 2019, Haier Smart Home implemented an ecosystem brand strategy, under which it developed brands for meeting individualized needs in different scenarios and built an industrial ecosystem by bringing in first-class enterprises. Last year, the ecosystem brought Haier Smart Home 4.8 billion yuan of revenue, surging 68 percent year on year.

Haier Smart Home's sales revenue in the overseas market in 2019 reached 94.1 billion yuan, showing a year-on-year increase of 22 percent and accounting for 47 percent of the total.

The company said that the continuous growth in its overseas business could be attributed to its improvement in the areas of R&D, manufacturing and sales, as well as its localized operation.

The home appliance manufacturer reported on the same day that its revenue in the first quarter of this year fell 11.09 percent year on year to 43.141 billion yuan, and its net profit attributable to shareholders during the period was 1.07 billion yuan, down 50.16 percent year on year.

Affected by the COVID-19 epidemic, the home appliance industry in China experienced a decline, but the brand landscape remained relatively unchanged. In general, Haier still occupies the first place in the industry, holding a 23.4 percent of market share, according to the Xinhua-run China Securities Journal. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: Haier home appliance

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