HAIER SMART HOME(SH:600690) Sou Hu Wang·2025-12-08 05:05Core Insights - The global kitchen appliance market is under pressure, yet Haier's kitchen appliances are experiencing growth, achieving a 32% increase in the high-end market compared to an industry decline of 3% in the first ten months of the year [1][2] - Haier's global strategy has established a strong market foundation, with the company being the largest kitchen appliance manufacturer globally, selling over 10 million units annually for three consecutive years from 2022 to 2024 [3] - The "comprehensive ToC transformation" strategy has driven Haier's global market growth, with significant market shares in various regions, including 34% in the US and leading positions in Australia, Italy, Morocco, and notable growth in the Middle East and Southeast Asia [3][4] Company Performance - Haier's kitchen appliances have achieved breakthroughs in the domestic high-end market, with the Casarte brand being the fastest-growing high-end brand in the industry [3] - The Casarte full-embedded range hood has maintained the highest market share in the high-end segment on JD.com for five consecutive months, while the Casarte drawer dishwasher has seen a 130% increase in sales, securing the top market share [3] Innovation and Technology - Haier has introduced AI products and solutions, showcasing its leadership in the industry with the new generation of AI kitchens, which include features like automatic fire adjustment and intelligent cooking capabilities [4] - The integration of AI technology in kitchen appliances reflects Haier's commitment to enhancing user experience and product innovation [4] Strategic Insights - The reverse growth trend is attributed to the company's strategic transformation and market practices, demonstrating a systematic approach to enhancing brand value and resilience in a complex market environment [6] - The 2026 "comprehensive ToC" strategy outlines a clear path for Haier's high-end transformation, providing a practical example of resilience in the home appliance manufacturing sector [6]