多品牌协同与爆款驱动巩固市场竞争优势 8月28日晚间，海尔智家（600690）股份有限公司(以下简称"海尔智家")发布2025年半年度报告。数据 显示，在国内家电行业竞争白热化、海外贸易壁垒与物流波动等多重挑战下，海尔智家上半年实现营业 收入1564.94亿元，同比增长10.2%；归母净利润120.33亿元，同比增长15.6%，两项核心指标均创历史 新高。其中，第二季度单季归母净利润达65.46亿元，同比增长16.14%，增速较上半年整体水平进一步 提升，增长动能持续增强。 中国家用电器商业协会秘书长张剑锋在接受《证券日报》记者采访时表示，在全球经济不景气背景下， 海尔智家业绩仍实现增长，这源于其多年坚持的多品牌战略与全球技术协同创新。同时，海尔智家国内 国外双线市场全线爆发，国内线上线下（300959）齐头并进，多品牌、多品类、多业态协同发力，形成 头部品牌"虹吸效应"；深厚用户基础、持续的用户运营，以及AI应用、数据化转型等"内功"，加上企业 文化助力海外收购进入收获期，共同筑牢其发展根基。 供应链建设方面，海尔智家加速构建"中国+N""本土化+区域化"全球双轨供应链体系。通过在埃及、泰 国等地区建设本土 ...

Core Viewpoint - Haier Smart Home reported strong financial performance for the first half of 2025, achieving a revenue of 156.49 billion yuan, a year-on-year increase of 10.2%, and a net profit of 12.03 billion yuan, up 15.6%, marking a historical high [1][3] Group 1: Financial Performance - In Q2 2025, Haier Smart Home achieved a net profit of 6.55 billion yuan, reflecting a year-on-year growth of 16.14% [1] - The company has maintained double-digit growth in both revenue and profit for two consecutive quarters [3] Group 2: Strategic Execution - The company's success is attributed to three main strategies: focusing on star products and multi-brand collaboration for high-quality development, leveraging AI and digital transformation for cost reduction and efficiency improvement, and pursuing diversified global market strategies [3][10] - Haier Smart Home improved SKU combination efficiency by 13% in the first half of 2025 by focusing on star products and reducing SKUs [4] Group 3: Market Share and Product Performance - Haier Smart Home achieved the top market share in both online and offline channels, with significant growth in various product categories [6] - The Casarte brand, integrating AI technology, saw revenue growth exceeding 20%, with its high-end refrigerator capturing over 50% market share in the 15,000+ yuan segment [6] - The Haier brand's "AI for Home" initiative led to an 18% increase in retail sales, with the "Little Red Flower" series achieving over 1.2 million units sold in the first half of 2025 [6] Group 4: Digital Transformation and Efficiency - Haier Smart Home embedded AI and digital tools across all processes, resulting in a 0.1% optimization in sales management expense ratio [10] - The company enhanced its digital inventory model, leading to a 22% growth in retail scale for newly onboarded customers [11] Group 5: Global Market Strategy - Despite challenges in overseas markets, Haier Smart Home's international revenue grew by 11.66%, with significant growth in regions like South Asia (32.47%) and the Middle East and Africa (65.42%) [14] - The company is building a dual-track supply chain system to enhance resilience and improve delivery speed and stability [14] Group 6: Shareholder Returns - Haier Smart Home announced a cash dividend plan for the first half of 2025, proposing a distribution of 2.69 yuan per 10 shares, totaling over 2.5 billion yuan [14]

转自：推广 当前，中国家电行业面临着多重挑战。在国内，行业竞争已进入白热化阶段，价格竞争加剧；在海外， 关税贸易壁垒及全球物流波动等不确定性增强，作为国际化程度很高的家电行业备受关注。尤其是海外 占比最高、全球化程度更彻底的海尔智家，将会交出一份怎样的答卷？ 8月28日晚，海尔智家发布了2025半年报。财报显示，2025上半年，海尔智家实现营业收入1564.94亿 元，同比增长10.2%；归母净利润120.33亿元，同比增长15.6%，创历史新高。其中，Q2单季实现归母 净利润65.46亿元，同比增长16.14%，业绩增长加速明显。 从业绩表现看，海尔智家实现了营收、利润持续2位数增长，延续了2025一季报的增长态势，很好地回 答了外界关注。那么，海尔智家是如何实现业绩超预期的？其核心在于坚定不移地执行三大战略：一是 聚焦明星爆款与多品牌协同带来的高质量发展；二是AI与数字化变革带来的持续降费提效；三是坚持 全球市场多元化与本土化布局带来的各区域加速增长。 多品类爆款层出与多品牌协同实现国内份额持续第一、持续增长 面对国内竞争白热化和价格战，海尔智家聚焦明星爆品及多品牌协同取得了显著效果。其中，海尔智家 通过 ...