Financial Performance - Haier Smart Home reported a revenue of RMB 131,614 million for the six months ended June 30, 2023, representing an 8.2% increase from RMB 121,629 million in the same period of 2022[3]. - The gross profit for the same period was RMB 39,216 million, also up by 8.2% compared to RMB 36,228 million in 2022[3]. - Adjusted operating profit increased by 14.2% to RMB 9,577 million, up from RMB 8,389 million year-on-year[3]. - Net profit attributable to shareholders was RMB 8,964 million, reflecting a 12.6% increase from RMB 7,960 million in the previous year[3]. - Basic earnings per share rose to RMB 0.97, a 14.1% increase from RMB 0.85 in the same period of 2022[3]. - The company reported a pre-tax profit of RMB 11.114 billion for the first half of 2023, compared to RMB 10.009 billion in the same period of 2022, reflecting an increase of approximately 11.0%[20]. - The group reported a pre-tax profit of RMB 884 million for the six months ended June 30, 2023, significantly higher than RMB 355 million in the same period of 2022, marking a rise of about 149%[29]. - Other income for the six months ended June 30, 2023, totaled RMB 1,690 million, compared to RMB 1,374 million in 2022, reflecting an increase of approximately 23%[27]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 246,302 million, compared to RMB 235,939 million at the end of 2022[7]. - The company's cash and cash equivalents stood at RMB 55,063 million, up from RMB 53,392 million at the end of 2022[7]. - Total current liabilities amounted to RMB 120,692 million, an increase from RMB 118,811 million as of December 31, 2022, reflecting a growth of 1.5%[8]. - The total equity of the company reached RMB 97,994 million, compared to RMB 94,746 million at the end of 2022, marking an increase of 3.8%[8]. - The company's total liabilities were RMB 148.308 billion, with interest-bearing loans comprising RMB 27.709 billion[22]. - The debt-to-equity ratio increased to 32.7% as of June 30, 2023, up from 31.5% as of December 31, 2022, primarily due to increased utilization of government policy loans[108]. Inventory and Receivables - Inventory decreased to RMB 39,026 million from RMB 41,588 million, indicating improved inventory management[7]. - Trade receivables increased to RMB 32,238 million from RMB 25,511 million, suggesting a potential increase in sales or credit terms[7]. - Trade receivables net amount was RMB 21,742 million as of June 30, 2023, an increase from RMB 15,887 million as of December 31, 2022[36]. - Trade payables amounted to RMB 47,160 million as of June 30, 2023, compared to RMB 41,879 million as of December 31, 2022[36]. Market and Segment Performance - The revenue from the refrigerator and freezer segment was RMB 22.238 billion, up from RMB 21.739 billion year-over-year, indicating a growth of about 2.3%[21]. - The segment performance for the full-home air solution air conditioning business was RMB 23.146 billion, showing an increase from RMB 19.459 billion in the previous year, which is a growth of approximately 18.0%[21]. - The company’s other businesses, including small home appliances and channel distribution, contributed RMB 3.313 billion in revenue, up from RMB 4.451 billion in the previous year[20]. - The smart home business in China generated revenue of 70,345 million in the first half of 2023, up 8.6% year-on-year, driven by digital transformation and product share increases[47]. - The air conditioning segment saw significant growth, with revenue increasing by 18.9% to RMB 23,146 million from RMB 19,459 million[82]. Strategic Initiatives and Future Outlook - The company plans to continue expanding its market presence and investing in new product development to enhance its competitive edge in the smart home sector[20]. - The company is focusing on high-end, smart, and energy-efficient appliances as key growth areas in emerging markets driven by the Belt and Road Initiative[46]. - The company is actively investing in R&D to mitigate risks associated with industry competition and technological advancements[79]. - The company is implementing measures to manage risks related to raw material price fluctuations and overseas operational challenges[80]. - The company is enhancing its competitive edge through digital transformation and retail capability improvements in both domestic and overseas markets[85]. Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code as per the listing rules during the reporting period[118]. - The roles of Chairman and CEO are held by the same individual, which the board believes is in the best interest of the company for maintaining policy continuity and business stability[120]. - The audit committee has reviewed the accounting principles and practices adopted by the company and discussed financial reporting matters without any dissent[122].
海尔智家(06690) - 2023 - 中期业绩