Under the old-for-new home appliance policy, Haier Smart Home experienced steady growth, with revenue in the fourth quarter of 2024 increasing by 16.67% year-on-year to 73.243 billion yuan. For the entire year of 2024, the refrigerator, washing machine, and other industries maintained leading market shares; the high-end Casarte products saw rapid growth, with a quarterly increase of over 30%.
The company announced a cash dividend of 9.65 yuan (including tax) for every 10 shares, with a total dividend amount of nearly 9 billion yuan, corresponding to a cash dividend payout ratio of 48.01% of net profit attributable to shareholders.
On the 27th, Haier Smart Home released its 2024 annual financial report:
<blockquote>
<ul>
<li>Operating Revenue: The operating revenue for the fourth quarter was 73.243 billion yuan, an increase of 16.67% year-on-year.</li>
<li>Net Profit: The net profit attributable to shareholders for the fourth quarter was 3.587 billion yuan, an increase of 4.04% year-on-year.</li>
<li>Net Cash Flow from Operating Activities: 11.899 billion yuan, a decrease of 1.34% year-on-year.</li>
</ul>
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In 2024, the company achieved revenue of 285.981 billion yuan, an increase of 4.29% compared to the same period in 2023. The net profit attributable to shareholders was 18.741 billion yuan, an increase of 12.9% compared to the same period in 2023; the net cash flow from operating activities in 2024 was 26.543 billion yuan, 1.4 times the net profit, remaining basically flat compared to the same period in 2023. The company's gross profit margin reached 27.8% in 2024, an increase of 0.3 percentage points compared to the same period in 2023.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/50735efb-c700-4c2d-b570-6a82242bf9dc.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/50735efb-c700-4c2d-b570-6a82242bf9dc.png"/>
<h2>Core Business Steady Growth, Smart Home Strategy Continues to Deepen</h2>
The financial report shows that with the gradual implementation of the national old-for-new home appliance policy since August 2024, the home appliance industry is gradually recovering. According to data from AVC, the total retail sales of all home appliance categories (excluding 3C) in China reached 907.1 billion yuan in 2024, a year-on-year increase of 6.4%, indicating an overall market recovery. In specific categories, the refrigerator industry maintained steady growth, with retail sales increasing by 7.6% year-on-year, mainly due to product upgrades and iterations, especially the rapid penetration of embedded refrigerators. The washing machine industry also saw retail sales increase by 7.6% year-on-year, with the market share of drum washing machines continuing to expand. In the kitchen appliance sector, the range hood and gas stove maintained double-digit growth.
As a traditional stronghold for Haier Smart Home, the Chinese market continues to maintain leading shares in core products such as refrigerators, washing machines, and water heaters. Notably, its high-end Casarte brand performed exceptionally well, with revenue growth exceeding 30% in the fourth quarter of 2024, validating the success of its high-end strategy. The company has optimized the order response cycle through deepening digital transformation, improving domestic efficiency by 13%, which also provides Haier with a differentiated competitive advantage in the fiercely competitive domestic market
Haier Smart Home continues to deepen its smart home strategy, providing customized and professional smart appliance solutions for users through the &#34;Three Wings Bird&#34; platform. This strategy not only aligns with the trend of consumption upgrading but also brings higher added value and differentiated competitive advantages to the company.
Haier Smart Home is actively responding to the trend of younger consumers by deepening connections with users through innovative marketing models and IP development. Particularly for the Leader brand aimed at young consumers, with personalized design and innovative marketing, the market retail sales in 2024 are expected to grow by 26% year-on-year.
<h2>Global Layout: Strong Performance in Overseas Markets, Accelerated Expansion through Mergers and Acquisitions</h2>
Haier Smart Home has ranked first in global retail volume of large home appliance brands for 16 consecutive years. In 2024, the company continues to strengthen its global layout, maintaining a leading position in major regional markets such as Asia, North America, Australia, and New Zealand. Notably, the performance in the Indian market is remarkable, with revenue exceeding USD 1 billion for the first time, a year-on-year growth of over 30%, demonstrating the enormous potential of emerging markets.
In terms of overseas markets, Haier Smart Home continues to make efforts, with global core home appliance product retail sales expected to grow by 2.1% year-on-year in 2024. Particularly noteworthy is the company's accelerated overseas expansion through mergers and acquisitions. For example, the acquisition of the century-old South African water heater brand Kwikot helps to expand its overseas business layout in the water heater sector. These initiatives demonstrate Haier Smart Home's determination to continue deepening its presence in the global market and provide important support for its future growth.
Haier Smart Home emphasized its strategic focus in the report: continuously promoting the development of high-end brands, such as Casarte, and its globalization strategy. Enhancing product added value through high-end brands and expanding market space through globalization are key to Haier Smart Home's sustained growth

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Under the home appliance trade-in policy, revenue in the fourth quarter of 2024 increased by 16.67% year-on-year to 73.243 billion yuan. For the entire year of 2024, industries such as refrigerators and washing machines maintained a leading share; Casarte's high-end products grew rapidly, with a growth rate exceeding 30% in the fourth quarter

- Haier Smart Home reported a 16.67% year-on-year revenue increase in Q4 2024, reaching 73.243 billion yuan, driven by strong sales in refrigerators and washing machines.  
- The company plans to distribute a cash dividend of 9.65 yuan per 10 shares, totaling nearly 9 billion yuan, which represents 48.01% of its net profit.  
- With a focus on high-end products and digital transformation, Haier continues to expand its global presence, particularly in emerging markets like India, where revenue exceeded 1 billion USD, growing over 30%.

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Haier Smart Home

HAIER SMARTHOME

Haier Smart Home's Q4 revenue increased by 16.67% year-on-year, net profit rose by 4.04%, and the dividend payout ratio is nearly 50% | Financial Report Insights