Core Viewpoint - Haier Smart Home Co., Ltd. has announced the progress of its A-share repurchase plan, having repurchased a total of 15.35 million shares, accounting for 0.16% of its total share capital, with a total payment of approximately 334 million yuan [1][5]. Repurchase Plan Key Elements - The repurchase plan was first disclosed on March 27, 2026, proposed by the board of directors [2][6]. - The implementation period of the repurchase plan is from March 26, 2026, to March 25, 2027 [2][6]. - The expected repurchase amount ranges from 3 billion yuan to 6 billion yuan [2][6]. - The purpose of the repurchase is for employee stock ownership plans or equity incentives [2][6]. - The cumulative number of shares repurchased is 15,350,000 shares [2][6]. - The cumulative number of repurchased shares accounts for 0.16% of the total share capital [2][6]. - The total amount paid for the repurchase is 334,007,465.88 yuan [2][6]. - The actual repurchase price range is between 21.43 yuan/share and 22.40 yuan/share [2][6]. Repurchase Progress Details - As of the end of March 2026, the company has completed the repurchase operations, having repurchased 15.35 million shares [3][7]. - The highest purchase price was 22.40 yuan/share, while the lowest was 21.43 yuan/share [3][7]. - The total payment made for the repurchase is approximately 334 million yuan [3][7]. - The repurchase actions comply with relevant laws and regulations as well as the company's repurchase plan requirements [3][7]. Future Arrangements - The company will strictly follow the regulations of the "Listed Company Share Repurchase Rules" and the "Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 7 - Share Repurchase" during the repurchase period [4][8]. - The company will implement the repurchase based on market conditions and will fulfill its information disclosure obligations in a timely manner [4][8].

Core Viewpoint - Haier Smart Home (600690.SH) announced a share buyback program, indicating a commitment to returning value to shareholders through repurchasing shares [1] Group 1: Share Buyback Details - The buyback period started on March 27, 2026, and will continue until the end of March 2026 [1] - A total of 15.35 million shares have been repurchased, representing 0.16% of the company's total share capital [1] - The highest purchase price was 22.40 CNY per share, while the lowest was 21.43 CNY per share, with a total expenditure of 334 million CNY [1]

Core Viewpoint - Haier Smart Home (600690.SH) has announced a share buyback program, indicating a commitment to enhancing shareholder value through capital management strategies [1] Group 1: Share Buyback Details - As of March 31, 2026, the company has repurchased a total of 15.35 million shares, which represents 0.16% of the company's total share capital [1] - The highest purchase price for the repurchased shares was 22.40 CNY per share, while the lowest was 21.43 CNY per share [1] - The total amount spent on the share buyback program is 334 million CNY [1]

证券代码：600690 证券简称：海尔智家 公告编号：临 2026-022 海尔智家股份有限公司 关于以集中竞价交易方式回购 A 股股份的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关 规定，现将公司回购股份进展情况公告如下： 本次回购实施起始日（2026 年 3 月 27 日）至 2026 年 3 月底，公司已累计回 购股份 15,350,000 股，占公司总股本的比例为 0.16%，购买的最高价为 22.40 元/ 股、最低价为 21.43 元/股，支付的金额为 334,007,465.88 元。 上述回购符合相关法律法规规定及公司回购股份方案的要求。 三、其他事项 | 回购方案首次披露日 | 2026/3/27，由董事会提议 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2026 年 3 月 26 3 | 日~2027 | 年 | 月 | 25 日 ...

Group 1 - The company Haier Smart Home announced that as of March 31, 2026, it has repurchased a total of 15.35 million shares, accounting for 0.16% of the company's total share capital [1] - The repurchase price range was between 21.43 yuan per share and 22.4 yuan per share [1] - The total funds used for the share repurchase amounted to 334 million yuan [1]

Core Viewpoint - Haier Smart Home (600690.SH) has announced a share buyback program, indicating a commitment to returning value to shareholders and potentially signaling confidence in its future performance [1] Group 1: Share Buyback Details - As of the end of March 2026, the company has repurchased a total of 15.35 million shares, which represents 0.16% of the total share capital [1] - The highest purchase price for the shares was 22.40 CNY per share, while the lowest was 21.43 CNY per share [1] - The total amount spent on the share buyback program is 334 million CNY [1]

Summary of Key Points Core Viewpoint - Haier Smart Home (600690.SH) has announced a share buyback program, indicating a commitment to returning value to shareholders through capital management strategies [1] Group 1: Buyback Details - The buyback period started on March 27, 2026, and will continue until the end of March 2026 [1] - A total of 15.35 million shares have been repurchased, which represents 0.16% of the company's total share capital [1] - The highest purchase price during the buyback was 22.40 CNY per share, while the lowest was 21.43 CNY per share, with a total expenditure of 334 million CNY [1]

Investment Rating - The investment rating for the company is "Trading Buy" with a target price of HKD 22.8, indicating a potential upside of 5% to 15% from the current price of HKD 20.72 [1][6]. Core Insights - The company reported a revenue of RMB 302.35 billion for 2025, representing a year-over-year (YOY) increase of 5.7%. The net profit attributable to the parent company was RMB 19.55 billion, a YOY increase of 4.3%. However, the performance was below expectations due to rising raw material prices [8]. - The company is actively expanding into emerging markets, achieving a revenue of RMB 154.55 billion from overseas operations in 2025, which is a YOY increase of 8.2%. Notably, revenue from South Asia grew by 23% and from the Middle East and Africa by 56% [8]. - The gross profit margin for 2025 was 26.7%, down 1.1 percentage points YOY, while the expense ratio improved to 19.1%, a decrease of 1 percentage point YOY due to ongoing digital transformation efforts [8]. - The company has a dividend policy that includes a cash dividend of RMB 8.867 per 10 shares (before tax), leading to a total dividend payout ratio of 55% of net profit for the year. The dividend yield for A and H shares is 5.4% and 5.6%, respectively [8]. - Profit forecasts have been adjusted downwards due to the impact of raw material prices, with expected net profits for 2026, 2027, and 2028 at RMB 20.2 billion, RMB 22.1 billion, and RMB 24.2 billion, respectively, reflecting YOY growth rates of 3.2%, 9.8%, and 9.4% [8]. Summary by Sections Company Overview - The company operates in the home appliance industry, with a market capitalization of RMB 194.30 billion and a total share count of approximately 9.38 billion [2]. Recent Ratings - The last rating update was on November 3, 2025, where the stock was rated as "Buy" with a closing price of HKD 25.24 [3]. Financial Performance - The company’s revenue and net profit figures for 2025 were RMB 302.35 billion and RMB 19.55 billion, respectively, with a significant decline in Q4 revenue and net profit compared to the previous year [8]. - The company’s gross profit margin and expense ratio were reported at 26.7% and 19.1%, respectively, indicating pressure on margins but improved cost management [8]. Dividend Policy - The company has committed to increasing its dividend payout ratio, with plans for a minimum of 58% in 2026 and 60% in subsequent years [8]. Profit Forecasts - Adjusted profit forecasts for the next three years indicate a cautious outlook due to raw material cost pressures, with expected EPS of RMB 2.2, RMB 2.4, and RMB 2.6 for 2026, 2027, and 2028 [8][10].

Core Insights - Haier Smart Home reported a revenue of 302.347 billion yuan for 2025, marking a 5.71% year-on-year increase and surpassing the 300 billion yuan milestone for the first time [1][2] - The net profit attributable to shareholders reached 19.553 billion yuan, reflecting a 4.39% year-on-year growth, with both key metrics hitting historical highs [1][2] Revenue Breakdown - The refrigeration segment generated 84.762 billion yuan, up 1.4% year-on-year, maintaining a 47.7% share in the domestic offline market and achieving the highest global retail volume for refrigerators for 18 consecutive years [2] - The kitchen appliance segment reported revenue of 41.538 billion yuan, a 0.9% increase year-on-year, with the high-end Casarte series making significant contributions [2] - The water appliance segment saw revenue of 17.964 billion yuan, a notable 11.1% year-on-year growth, with a 10% profit margin increase following the acquisition of South Africa's Kwikot, marking it as a growth highlight [2] Leadership and Strategy - Chairman and CEO Li Huagang's strategic leadership has been pivotal in overcoming growth bottlenecks, focusing on high-end, globalization, and digital transformation [2] - Li Huagang has been with Haier since 1991, progressing from project manager to CEO, and was recognized in the 2024 Forbes China Best CEO list [2] - The company employs a "global empowerment + local implementation" model to manage cost fluctuations, although Q4 2025 revenue fell by 6.72% year-on-year to 68.293 billion yuan, with net profit down 39.15% to 2.180 billion yuan, attributed to external environmental fluctuations [2]

Group 1 - Haier Smart Home (600690) announced a share buyback plan, intending to repurchase 2.7 million A-shares for a total expenditure of 58.193 million yuan [1] - The buyback is scheduled to be completed by March 30, 2026 [1] - The current stock price of Haier Smart Home is 21.38 yuan, reflecting a decrease of 0.21 yuan or 0.97% [1] Group 2 - The stock has shown fluctuations throughout the trading day, with a range between 21.20 yuan and 21.98 yuan [1] - Trading volume reached 640,000 shares at peak times during the day [1] - The stock has experienced a slight increase of 1.81% over a certain period [1]