Haier Smart Home Reports 2024 Financial Success and Innovation Drive

Haier Smart Home Co., Ltd. announced a 4.29% increase in total revenue for 2024, reaching RMB 285.98 billion. The company maintained a gross profit margin of 27.8% and saw a significant net profit growth of 12.9%, reaching RMB 18.74 billion. A proposed payout ratio of 48.01% was also highlighted.

The brand Casarte led with a 12% increase in retail sales, driven by the demand for smart and high-end home appliances. Haier's leadership in the Chinese refrigerator and washing machine markets was further solidified, with increases in both online and offline market shares.

Growth in emerging markets contributed significantly to the company's success, with a 21.05% revenue increase in South Asia. Strategic acquisitions, including Carrier’s refrigeration business, bolstered Haier's presence overseas.

Haier’s focus on AI-driven solutions and efficiency through digital transformation further supported their competitive edge and cost management improvements.