Core Viewpoint - The company's performance growth is driven by both domestic and international markets, with significant contributions from the "old-for-new" appliance policy in China and double-digit growth in emerging markets [1][4]. Financial Performance - In the first half of 2025, the company achieved revenue of 156.49 billion yuan, a year-on-year increase of 10.2% - The net profit attributable to the parent company was 12.03 billion yuan, up 15.6% year-on-year - The operating cash flow reached 11.14 billion yuan, reflecting a 32.2% increase [1][3]. Domestic Market Growth - Domestic market revenue grew by 8.8%, showcasing stability amid fierce competition - The high-end brand Casarte saw revenue growth exceeding 20%, maintaining a leading position in the premium market - The Leader brand also performed well, with revenue growth over 15%, successfully targeting younger consumers [4][5]. International Market Expansion - International revenue increased by 11.7%, with emerging markets showing remarkable performance - South Asia experienced a growth of 33%, Southeast Asia 18%, and the Middle East and Africa 65% [4][6]. Digital Transformation and Innovation - The company is advancing digital transformation projects, leading to over 100% growth in retail sales through the POP channel and nearly 50% growth in e-commerce revenue - The AI-driven demand insight system improved SKU combination efficiency by 13% [4][7]. Product and Service Development - The company is focusing on smart home strategies, launching integrated solutions under the "Three Wings Bird" brand - Collaborations with partners like Boloni to develop complete kitchen appliance solutions and the introduction of AI technologies in products enhance user experience and product value [7][6]. Global Manufacturing and Distribution - The company has established a global presence with over 10+N innovation ecosystems, 163 manufacturing centers, and 126 marketing centers, covering nearly 230,000 sales points - This extensive global layout provides a buffer against geopolitical risks and tariff policy changes [6][5].

Core Viewpoint - Haier Smart Home reported strong performance in the first half of 2025, with revenue of 156.49 billion yuan, a year-on-year increase of 10.2%, and a net profit attributable to shareholders of 12.03 billion yuan, up 15.6% [1][4] Financial Performance - Revenue: 156.49 billion yuan, up 10.2% year-on-year [1][4] - Net Profit: 12.03 billion yuan, up 15.6% year-on-year [1][4] - Deducted Non-recurring Profit: 11.70 billion yuan, up 15.2% year-on-year [1][4] - Operating Cash Flow: 11.14 billion yuan, up 32.2% year-on-year [1][4] - Gross Margin: 26.9%, an increase of 0.1 percentage points year-on-year [1][4] Market Performance - Domestic market revenue grew by 8.8%, supported by the "old-for-new" appliance policy and strong performance from the high-end brand Casarte, which saw over 20% revenue growth [3][5] - Overseas market revenue increased by 11.7%, with emerging markets showing significant growth: South Asia up 33%, Southeast Asia up 18%, and Middle East & Africa up 65% [6] Strategic Initiatives - The multi-brand strategy showed significant synergy, with Casarte maintaining a leading position in the high-end market and Leader brand growing over 15% [5] - Digital transformation initiatives, including digital inventory and marketing, led to over 100% growth in POP channel retail and nearly 50% growth in e-commerce revenue [5] Business Segment Performance - Air energy solutions revenue reached 32.98 billion yuan, up 12.8% [7] - Household laundry solutions revenue was 32.01 billion yuan, up 7.6% [7] - Whole-house water solutions saw the fastest growth, with revenue of 9.79 billion yuan, up 20.8% [7] - The largest segment, household food preservation and cooking solutions, generated revenue of 63.53 billion yuan, maintaining stable growth [7] Innovation and Development - The company is focusing on smart home strategies through the "Three Wings Bird" brand, offering integrated scenario solutions [7] - Collaborations with partners like Boloni to develop complete kitchen appliance solutions and the introduction of AI-driven technologies to enhance user experience [7]