Xin Lang Cai Jing·2025-09-02 04:28Core Viewpoint - The company reported a strong performance in H1 2025, with significant growth in air conditioning market share and robust expansion in emerging markets, indicating a positive outlook for the full year [1] Financial Performance - In H1 2025, the company achieved revenue of 156.49 billion, a year-on-year increase of 10.22%, and a net profit of 12.03 billion, up 15.59% [3] - For Q2 2025, revenue reached 77.38 billion, reflecting a 10.39% year-on-year growth, while net profit was 6.55 billion, increasing by 16.02% [3] - The company's gross margin for H1 2025 was 26.9%, up 0.1 percentage points, and the net margin was 7.98%, an increase of 0.39 percentage points [4] Market Dynamics - The domestic air conditioning market share increased to 12.8%, a rise of 0.5 percentage points year-on-year, with notable growth from the Casarte brand exceeding 20% and Leader brand growing over 15% [3] - In the overseas market, overall revenue grew by 11.7% year-on-year, with North America showing double-digit growth in high-end brands and emerging markets like South Asia, Southeast Asia, and the Middle East and Africa growing by 33%, 18%, and 65% respectively [3] Strategic Initiatives - The company launched innovative products such as the Haier Mairang refrigerator and Leader lazy three-tub washing machine, leading industry trends [3] - Digital transformation initiatives, including digital inventory and marketing, are being implemented to enhance product turnover and expand market touchpoints [3][4] Profitability Improvement - The improvement in profitability is attributed to the effective growth of high-end brand Casarte, increased scale in air conditioning business, and a strong high-end brand strategy in overseas markets [4] - The sales and management expense ratio improved by 0.1 percentage points in H1 2025, supported by digital transformation efforts [4]