DGAP-News: Haier Smart Home Co.,Ltd.
/ Key word(s): Half Year Results
Haier Smart Home publishes half-year report 2020: Revenue and profit recovery following COVID-19 impacts Overall Outperforming the industry: In the context of the COVID-19 pandemic and the downturn in the industry, Haier Smart Home used digital transformation to improve operational efficiency and user experience through smart home scenarios solutions. Based on the smart home experiential cloud platform, by incorporating products, marketing, customers, users, logistics, and services into the digital platform, Haier Smart Home built differentiated competitiveness, increased market share, and optimized operational efficiency. In Q2 2020, the Company's domestic revenue increased by 14% YoY with optimized expenses. Classic products leading position: In H1 2020, the offline and online retail market share of refrigerators, washing machines, air conditioners, water heaters, and kitchen appliances continued to increase. Among them, refrigerators and washing machines continued to expand their leading advantages in the industry, their offline market share was 3.0 and 1.5 as much as the nearest competitor, while the online market share was 2.2 and 1.3 times as much. Boom in air conditioning business: Haier Smart Home has adjusted its air-conditioning business strategy and has greatly boosted performance through reform measures such as strengthening presence, improving efficiency and adjusting structure. In Q2 2020, the domestic revenue of household air conditioners increased by 20% YoY, while the revenue of high-end air-conditioners increased by more than 70% YoY in H1 2020. Absolute premium leadership: Casarte, the Company's high-end brand, continued to lead the high-end home appliances market. In Q2 2020, Casarte thoroughly got rid of the impact of the pandemic and returned to a high-speed growth track with a revenue growth rate of 21% YoY, of which sales in May and June, respectively increased by over 30% YoY, with its market share in the lead as well. In addition, the Haier Smart Home leverages the unique Smart Home Experiential Cloud construction in the industry to drive sales of full-set home appliances. In H1 2020, the sales of the Company's smart home appliances increased by 20% YoY; the sales of full-sets grew by 55%. As a result, the share of sales of full-set was 29.6%, an increase of 4.8pct. The full-set sales volume of Haier Smart Home increased by 107% YoY. Haier Smart Home continues to build ecological brands such as the Internet of Clothing, the Internet of Food, and the Internet of Air, and to explore new smart ecological business models. With reliance on the product system of the refrigerator, washing machine, and air conditioner, the Company has connected resources of the entire industry chain into the related fields. To take the Internet of Clothing as an example, Haier Smart Home has created an ecosystem for clothing washing, caring, matching and purchasing with respect to the washing machine. Users have direct access to resources such as laundry service providers and clothing brand vendors without having to leave home. In H1 2020, the Company's revenue derived from the smart home ecosystem increased by 96% YoY to RMB 3.8 billion. The joint use of a uniform platform for planning, research and development, marketing, service system and smart home life is intended to promote earnings growth through cross-selling and the exploitation of synergy potential. By optimizing global resource allocation, Haier Smart Home will also further accelerate the expansion of overseas business in washing machines, water heaters and water purifiers. In addition, privatization also will fully optimize the organizational and management structure, equity structure and financial performance of the Company and improves its competitiveness, releasing the "1+1>2" synergy effect and enhancing market competitiveness.
31.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Haier Smart Home Co.,Ltd. |
Haier Industrial Park, Laoshan District | |
266101 Qingdao | |
China | |
Phone: | +49 6172 9454 143 |
Fax: | +49 6172 9454 42143 |
E-mail: | y.sun@haier.de |
Internet: | www.haier.net |
ISIN: | CNE1000031C1, CNE000000CG9 (A-share), |
WKN: | A2JM2W |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1125331 |
End of News | DGAP News Service |
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1125331 31.08.2020
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