Haier Smart Home Co., Ltd. Announces Strong Q1 2024 Financial Results

Haier Smart Home Co., Ltd. has reported a substantial financial performance for the first quarter of 2024, seeing a 6.01% increase in total revenue, which reached RMB 68.98 billion. The company cited innovations in sustainability and digital technologies as key drivers of growth. Noteworthy is the net profit attributable to the owners of the parent company, which rose by 20.16% to RMB 4.77 billion.

The company's premium appliance brand, Casarte, has strengthened its position in the high-end market in China, now serving over 20 million customers. Haier's strategic focus on integrating sustainable practices into product designs is echoed in their new "Boguan refrigerators" and "Essence Wash" washing machines, which boast significant energy and water savings. Additionally, the new "Lingxi Series" of air conditioners have become top-sellers thanks to their advanced technology features.

On the international front, Haier Smart Home noted a 4% increase in overseas revenue, with substantial gains in European and American markets. The release of the energy-efficient "X11 washing machine" at the Spring Canton Fair 2024 highlights the company's dedication to innovation. Haier Smart Home has also embraced digital transformation, which has enhanced operational efficiency and reduced expenses significantly.

Despite challenges from a volatile market environment, Haier Smart Home's strategies for digital innovation and global market expansion are positioning the company for sustained growth. They continue to leverage advancements in technology and sustainability to meet the evolving needs of consumers worldwide.