Company Performance - Haier Smart Home has maintained its position as the global leader in the home appliance industry for 13 consecutive years, with a retail volume ranking first in the global home appliance sector as of 2021[14]. - The company reported a continuous leadership in retail volume for refrigeration and washing appliances for 14 and 13 years respectively among global brands[14]. - Haier's financial performance continues to reflect robust growth, with significant investments in R&D and market expansion initiatives planned for the upcoming fiscal periods[14]. - The management has provided optimistic guidance for future performance, anticipating continued growth in both revenue and market share[14]. - Revenue for the six months ended June 30, 2022, was RMB 121,846 million, an increase of 9.1% from RMB 111,722 million in the same period of 2021[23]. - Gross profit for the same period was RMB 36,203 million, up 9.5% from RMB 32,958 million year-on-year[23]. - Profit before tax increased to RMB 9,998 million, representing a growth of 17.9% compared to RMB 8,472 million in 2021[23]. - Net profit for the period was RMB 7,997 million, a rise of 15.1% from RMB 6,946 million in the previous year[23]. - Total comprehensive income for the period was RMB 10,862 million, compared to RMB 6,650 million in the same period last year, marking a significant increase of 63.4%[23]. - Total revenue for Haier Smart Home reached RMB 121,846 million for the six months ended June 30, 2022, compared to RMB 111,722 million for the same period in 2021, representing a growth of approximately 9.5%[74]. Market Expansion and Strategy - Haier operates in over 160 countries and regions, including major markets such as China, North America, Europe, and Southeast Asia[14]. - Haier's strategic expansion includes enhancing its presence in emerging markets and strengthening its brand portfolio globally[14]. - The company plans to continue expanding its market presence and investing in new technologies[34]. - The company has outlined strategies for market expansion, particularly in overseas markets, to drive future revenue growth[58]. - The company aims to leverage its strong brand presence and innovative solutions to capture a larger market share in the smart home industry[58]. - The company is focusing on user experience and continuous product innovation through increased R&D investment to adapt to changing consumer preferences[149]. Financial Position - Non-current assets totaled RMB 98,443 million as of June 30, 2022, an increase from RMB 93,820 million at the end of 2021[27]. - Current assets amounted to RMB 128,210 million, compared to RMB 123,779 million at the end of 2021, reflecting a growth in liquidity[27]. - The company's cash and cash equivalents were RMB 49,265 million, up from RMB 45,071 million at the end of 2021, indicating improved cash flow[27]. - Total equity increased to RMB 87,576 million as of June 30, 2022, compared to RMB 81,143 million at the end of 2021, showing a solid financial position[29]. - The total assets of the company as of June 30, 2022, amounted to RMB 226,653 million, showcasing a robust asset base for future growth[65]. - The total liabilities were reported at RMB 139,077 million, indicating a manageable debt level relative to the asset base[65]. Research and Development - The company has a strong focus on innovation and technology development to meet evolving consumer needs in the smart home sector[14]. - Research and development costs for the six months ended June 30, 2022, were RMB 4,572 million, up from RMB 3,738 million in 2021, marking an increase of 22.4%[87]. - The group continues to focus on developing new products and technologies to strengthen its market position in the smart home industry[50]. Acquisitions and Investments - The company completed the acquisition of 100% equity in TaBoer for RMB 125 million, focusing on enhancing competitiveness in the home cleaning robot sector[50]. - The company also acquired 60% equity in Riri Shun Service for approximately RMB 51 million, further expanding its service capabilities[50]. - The consolidated financial statements for the six months ended June 30, 2022, include the performance of TaBoer and Riri Shun Service as if they had always been part of the group[51]. Market Trends and Consumer Behavior - In the first half of 2022, the retail sales of China's home appliance market (excluding 3C digital products) reached RMB 397.95 billion, a decrease of 9.89% compared to the same period in 2021[148]. - The online retail sales accounted for 53.8% of the total, with a notable shift towards content platforms for product promotion due to changing consumer behavior[152]. - The government has introduced policies to stimulate home appliance consumption, including a nationwide "old for new" program and measures to promote green and smart home appliances[153]. Product Performance - The revenue from the refrigerator and cold storage segment was RMB 21,739 million, while the air conditioning segment generated RMB 19,459 million, showing strong performance in these categories[58]. - The washing machine business reported revenue of 14.782 billion yuan, reflecting a 14.1% year-on-year growth, with a market share of 40.2% online and 45.9% offline[174]. - The company's home air conditioning offline retail market share reached 19.84%, up 3.96 percentage points, while online share increased by 0.9 percentage points to 14.1%[178]. - The kitchen appliance segment in China generated revenue of 1.989 billion yuan, up 11.5% year-on-year, with the Casarte brand's revenue growing by 46%[171]. Sustainability and Governance - The company is committed to sustainability and environmental governance as part of its corporate strategy[14]. - The company aims to enhance governance standards and reduce daily related party transactions through these acquisitions[50].
海尔智家(06690) - 2022 - 中期财报