海尔智家（600690）：25H1表现优异，国内国外维持稳健增长

研究报告 Research Report 29 Aug 2025 海尔智家 Haier Smart Home (600690 CH) 25H1 表现优异，国内国外维持稳健增长 80 100 120 140 160 Price Return MSCI China Volume | 资料来源： Factset | | | | | | --- | --- | --- | --- | --- | | | | 1mth | 3mth | 12mth | | 绝对值 | | 0.0% | 0.1% | 0.1% | | 绝对值（美元） | | 0.0% | 0.1% | 0.1% | | 相对 MSCI China | | -2.4% | -12.7% | -47.6% | | [Table_Profit] | | | | | | Rmb mn | Dec-24A | Dec-25E | Dec-26E | Dec-27E | | Revenue | 285,981 | 303,468 | 314,744 | 331,791 | | Revenue (+/-) | 4% | 6% | 4% | 5% | | Net pr ...