Core Insights - Haier Smart Home reported a record high net profit of 12.033 billion yuan for the first half of 2025, representing a year-on-year increase of 15.6% [1] - The company achieved a revenue of 156.494 billion yuan, marking a 10.2% year-on-year growth [1] - In Q2 alone, the net profit reached 6.546 billion yuan, up 16.14% compared to the same period last year [1] Financial Performance - Total revenue for the first half of 2025 was 156.494 billion yuan, with a year-on-year growth of 10.2% [1] - Net profit for the same period was 12.033 billion yuan, reflecting a 15.6% increase year-on-year [1] - The company plans to distribute a cash dividend of 2.69 yuan per 10 shares, totaling approximately 2.507 billion yuan, which is 20.83% of the net profit [1] Market Drivers - The growth in performance is attributed to both domestic and international market drivers [1] - In the domestic market, the "old-for-new" appliance policy and over 20% revenue growth from the high-end brand Casarte contributed to a stable market base [1] - Emerging markets in South Asia, Southeast Asia, and the Middle East and Africa showed double-digit growth, highlighting international expansion opportunities [1] Policy Impact - The third batch of government funds for the "old-for-new" program has been allocated, with Taobao and Tmall starting to offer subsidies from August 26 [1] - Consumers can receive up to 20% subsidies for purchasing energy-efficient products and 30% for home modification products aimed at elderly care [1]