Core Insights - Haier Smart Home reported a revenue of 156.49 billion yuan for the first half of 2025, marking a year-on-year growth of 10.2% [1] - The net profit attributable to shareholders reached 12.03 billion yuan, reflecting a year-on-year increase of 15.6%, achieving a historical high [1] - In Q2 alone, the net profit attributable to shareholders was 6.55 billion yuan, with a year-on-year growth of 16.14% [1] Financial Performance - The company improved its SKU combination efficiency by 13% in the first half of 2025 by focusing on star products and reducing SKUs [1] - Sales management expense ratio was optimized by 0.1 percentage points in the first half of 2025 [1] - A cash dividend of 2.69 yuan per 10 shares (before tax) is proposed, with a total dividend amount exceeding 2.5 billion yuan [1] Industry Challenges - The Chinese home appliance industry is facing multiple challenges, including intensified price competition domestically [1] - Internationally, the industry is affected by tariff trade barriers and increased uncertainties in global logistics [1] - The home appliance sector, being highly internationalized, is under significant scrutiny due to these challenges [1]