Core Insights - Haier's Mairang refrigerator has achieved sales of over 700,000 units in less than 9 months in China, with a growth rate exceeding 50% [1] - The Mairang refrigerator has successfully entered the Vietnamese market, following its expansion into Thailand, Malaysia, and the Philippines [1] - Haier's refrigerator has become the number one brand in market share in Vietnam and the fastest-growing brand in the region [1] Product Features - The Mairang refrigerator features a multi-door design for categorized storage, HCS humidity control technology, and ABT Pro sterilization function, catering to local consumer needs for fresh and safe food storage [1] - It includes Smart Ice technology for quick ice production and an open beverage space that accommodates 95% of common beverage sizes, aligning with local preferences for cold drinks [1] - The refrigerator's ultra-thin 594mm design and color options of cream white and sunshine gold appeal to quality-conscious consumers in upscale apartment living [1] Market Performance - Haier's AQUA brand in Vietnam has launched the TM700 series refrigerator, equipped with dual water dispensers and dual ice-making modules, addressing diverse cold drink needs [1] - The Mairang refrigerator's launch has led to its presence in over 100 core stores nationwide, allowing customers to experience and order the product directly [1] - By H1 2025, Haier is expected to maintain the top market share in Southeast Asia for refrigerators, with large refrigerator sales increasing by over 50% [2]

Core Viewpoint - Haier Smart Home collaborates with Tmall Super National Supplement Day to create a promotional event named "Champion Home, Most 'Home' Stadium," enhancing the connection between football fans and home appliances through engaging experiences and substantial benefits [1][5]. Group 1: Marketing Strategy - The campaign features large-scale advertisements in key urban transit hubs, showcasing partnerships with Liverpool and Paris Saint-Germain, effectively merging football passion with Haier's innovative home appliance designs [1][2]. - A luxury bus, designed as a mobile "fan home," tours popular attractions in Changsha, displaying Haier's champion products alongside football memorabilia, creating an immersive experience for fans [2]. Group 2: Product Promotion - The live-streaming event, hosted by renowned commentator Liu Jianhong, highlights Haier's product lineup, drawing parallels between the appliances and football team roles, emphasizing their technological advantages [3][4]. - Specific products like the Haier Mairang refrigerator and air conditioner are showcased for their advanced features, achieving top sales rankings on Tmall during the promotional period [3][4]. Group 3: Customer Engagement - The event offers various user benefits, including signed memorabilia and a grand prize of a trip to Europe for a football match, incentivizing purchases over 5000 yuan [4]. - Haier aims to provide a multi-faceted experience that integrates urban marketing, product engagement, and exclusive rewards, reinforcing its position as a leading partner for over 300 million Chinese households [5].

Core Viewpoint - Haier Smart Home has been consistently recommended as a "gold stock" by various brokerages due to its strong performance and strategic initiatives in both domestic and international markets [1][2]. Domestic Performance - Haier Smart Home has undergone a comprehensive digital transformation across its R&D, manufacturing, marketing, and logistics, leading to improved operational efficiency [1]. - The company has established an efficient product incubation platform, resulting in a 15.6% increase in SKU efficiency in the first three quarters [1]. Inventory Management - The implementation of a more agile and efficient operational system has enhanced overall operational efficiency, with 74% of products reaching customers directly from county-level specialty stores in the first three quarters [2]. International Growth - Haier Smart Home's overseas market revenue grew by 10.5% year-on-year in the first three quarters, with significant growth in various regions: over 25% in South Asia, over 15% in Southeast Asia, and over 60% in the Middle East and Africa [2]. - The company has maintained stable operations in North America and steadily increased its market share in Europe [2]. Strategic Resilience - Haier Smart Home's robust performance and clear strategic direction demonstrate its operational resilience in navigating the complexities of the global market, contributing to its favorable outlook among brokerages [2].

Core Viewpoint - The global home appliance industry is facing significant challenges due to intensified competition domestically and increasing external uncertainties, yet Haier Smart Home has reported better-than-expected financial results for the first three quarters of 2025, achieving a revenue of 234.05 billion yuan, a year-on-year increase of 10% [1][3]. Group 1: Business Performance - Haier Smart Home's revenue for the first three quarters of 2025 reached 234.05 billion yuan, reflecting a 10% year-on-year growth [1]. - The company has demonstrated strong operational resilience, attributed to three major transformations: enhancing product competitiveness, advancing AI and digital transformation, and optimizing operational efficiency [3][5]. Group 2: Product Strategy - The company has focused on creating popular products and suite offerings, achieving the top market share in China through multi-brand collaboration to meet diverse consumer needs [3]. - The "Lazy Washing" series has sold over 200,000 units, ranking first in the three-tub washing machine category, while the "Haier Mairang" refrigerator has also seen significant sales growth [5]. Group 3: Digital Transformation - Haier Smart Home has continued to push its digital transformation strategy, optimizing its cost structure by 0.2 percentage points in the first three quarters of 2025 [5][7]. - The company has implemented a digital inventory model, enhancing operational efficiency across the entire process, with direct delivery orders to users increasing to 74% by the end of September [5]. Group 4: International Expansion - Despite challenges such as high inflation and weak demand in developed countries, Haier Smart Home's overseas revenue grew by 10.5%, with notable growth in South Asia (over 25%) and Southeast Asia (over 15%) [7]. - The company has focused on localization in its global operations, launching energy-efficient products that exceed local standards and enhancing service responsiveness through a comprehensive network [7].

Core Insights - Haier Smart Home Co., Ltd. reported a strong performance for the first three quarters of 2025, achieving a revenue of 234.05 billion yuan, a year-on-year increase of 10%, and a net profit of 17.37 billion yuan, up 14.7%, marking a historical high [1] - The company attributes its success to three major transformations: enhancing the competitiveness of popular and suite products, advancing AI and digital transformation, and focusing on localized operations to upgrade its global operational system [1] Group 1: Product Strategy - Haier Smart Home has secured the top domestic market share by strengthening the competitiveness of popular products and enhancing suite offerings, resulting in a 9.5% revenue growth in the Chinese market for the first three quarters [2] - The company’s popular product series, such as the Lazy Washing Series, achieved sales of over 200,000 units, making it the top-selling model in its category, while the Leader brand saw revenue growth exceeding 25% [2][3] - Suite products like Casarte and Haier's offerings have significantly contributed to revenue, with Casarte suite sales accounting for 36% and Haier suite sales for 15% of total revenue [3] Group 2: Digital Transformation - The steady growth in performance is supported by ongoing digital transformation strategies across all processes, including R&D, manufacturing, supply chain, marketing, logistics, and services [5] - The company has improved operational efficiency by implementing a digital inventory model, with direct delivery orders to customers increasing to 74% [5] - Haier Smart Home has enhanced its digital marketing capabilities, resulting in a 17% year-on-year increase in its A3 user base and a 13% improvement in marketing ROI [5] Group 3: Global Operations - Despite challenges in developed markets, Haier Smart Home's overseas revenue grew by 10.5%, with stable operations in North America and expanding market share in Europe [6][7] - The company focuses on localized product development, launching energy-efficient appliances that exceed local standards, such as refrigerators and washing machines in Europe [7] - Haier Smart Home is enhancing its service and supply chain networks to improve local market responsiveness and customer experience, including the establishment of a major manufacturing base in Thailand [7]

Core Viewpoint - The global home appliance industry is facing significant challenges due to intensified competition domestically and increasing external uncertainties, yet Haier Smart Home has reported better-than-expected financial results for the first three quarters of 2025, demonstrating strong operational resilience [1] Group 1: Financial Performance - For the first three quarters of 2025, Haier Smart Home achieved revenue of 234.05 billion yuan, a year-on-year increase of 10%, and a net profit attributable to shareholders of 17.37 billion yuan, up 14.7%, marking a historical high [1] - In Q3 alone, the company recorded revenue of 77.56 billion yuan, a 9.5% year-on-year growth, and a net profit of 5.34 billion yuan, reflecting a 12.7% increase [1] Group 2: Domestic Market Strategy - Haier Smart Home has secured the top market share in China by enhancing the competitiveness of its blockbuster products and strengthening its product suite, with revenue growth of 9.5% in the first three quarters and 10.8% in Q3 [2] - The company’s collaboration with users has led to the successful launch of popular products, such as the "Lazy Washing Series," which sold over 200,000 units, and the "Haier Mairang Refrigerator," which achieved rapid sales [2] Group 3: Product Suite and Market Share - The sales proportion of the Casarte suite products has increased to 36%, up 7 percentage points year-on-year, while Haier brand suite products have risen to 15%, an increase of 11 percentage points [3] - Haier's air conditioning business outperformed the industry with a 31% year-on-year sales growth from January to September, surpassing the total net revenue of 2024 within just nine months [3] Group 4: Digital Transformation - The company’s steady growth is attributed to its ongoing digital transformation strategy, which has optimized its cost structure by 0.2 percentage points in the first three quarters of 2025 [5] - Haier has improved operational efficiency through a digital inventory model and enhanced its marketing capabilities, resulting in a 44% year-on-year increase in brand search share [5] Group 5: Global Expansion - Despite challenges such as high inflation and weak demand in developed countries, Haier's overseas revenue grew by 10.5%, with significant growth in South Asia (over 25%) and Southeast Asia (over 15%) [6] - The company has focused on localization and upgraded its global operational system, launching energy-efficient products tailored to local markets, which has led to increased market share in Europe [6] Group 6: Supply Chain and Future Outlook - Haier is enhancing its global supply chain with a resilient network, including a new air conditioning manufacturing base in Thailand with an annual capacity of 6 million units [7] - The company is positioned to leverage market changes and user demands, indicating a promising outlook for future performance [7]

Core Insights - Haier has become a leading choice for over 300 million households in China, with at least 6 out of every 10 families using Haier products [1][2] - Haier has maintained its position as the world's largest home appliance brand in retail volume for 16 consecutive years, with global users surpassing 1 billion [1] - The company is innovating shopping experiences through a "crowd testing" model, allowing consumers to experience products firsthand [1] Group 1: User-Centric Innovation - Haier's success is attributed to its user-centered innovation philosophy, evolving from single products to smart suites and complete home solutions [3][4] - The company has a history of responding to user needs, exemplified by the development of the "lazy wash" washing machine and the Mailang refrigerator, which addresses specific consumer concerns [3][4] Group 2: Product Differentiation - Haier's product offerings are tiered to meet diverse consumer demands, including high aesthetics for younger users and AI technology for quality-conscious consumers [4][5] - The Mailang series has gained significant attention, particularly among young consumers, with a 90% user base in this demographic [7] Group 3: Technological Advancements - The Mailang refrigerator features advanced preservation technology developed in collaboration with the Chinese Academy of Sciences, boasting 204 patent applications [8] - The Mailang air conditioner utilizes AI technology to enhance user comfort by adjusting airflow based on real-time monitoring of human presence [8] Group 4: Future Living Scenarios - Haier is moving beyond traditional appliances to create integrated smart living environments, exemplified by its Three Wings Bird brand offering customized smart home solutions [5][8] - The seamless interaction between Haier appliances represents a vision of future living, where devices autonomously assist users in daily tasks [8]

Core Viewpoint - The article emphasizes the importance of "slow living" in a fast-paced urban environment, showcasing how Haier's products can transform mundane household tasks into moments of personal enjoyment and relaxation through technology [1]. Group 1: Event Overview - The event featured a competition titled "Haier New Voice Wave," where contestants showcased Haier's products in various home scenarios, highlighting the integration of technology into daily life [1][3]. - The competition format was a "five into two" elimination round, judged by a panel from diverse backgrounds, including brand representatives and media personalities, focusing on both technical and emotional aspects of the performances [3]. Group 2: Contestant Performances - Contestant Gong Yatao portrayed a high school teacher under stress, benefiting from the Haier Mairang Sleep Fresh Air Conditioner, which provided a quiet and comfortable sleeping environment, allowing her to recharge effectively [4][7]. - Liu Hongli, a contestant with a background in electrical engineering, presented the Haier Mairang X11 Wash-Dry Set, emphasizing its UV function that gives clothes a "sunshine scent," enhancing the daily experience of wearing freshly cleaned clothes [9]. - Chen Sicheng, a stand-up comedian, used Haier's smart home features to create a comforting atmosphere during a creative slump, illustrating how technology can provide emotional support [11][14]. - Contestant Yu Jiatong highlighted the convenience of the Haier Mairang Gas Water Heater, which offers instant hot water, addressing the needs of busy professionals [15][17]. - Bian Yuxuan creatively integrated her role as a radio host into a dating scenario, using various Haier products to enhance the quality of life for her potential partners, showcasing the brand's versatility [20]. Group 3: Outcomes and Future Prospects - The performances led to the advancement of Bian Yuxuan and Chen Sicheng to the national top 13, earning them a chance to compete in the finals in Qingdao [21]. - The contestants' experiences with Haier products illustrated the emotional value derived from the combination of technology and aesthetics, aligning with the current trend of prioritizing personal well-being and satisfaction in daily life [20].

Core Viewpoint - The article highlights Haier Smart Home as the only recommended company in the home appliance sector by various securities firms, emphasizing its differentiated competitive advantage through digital transformation and a focus on smart home strategies amid challenges in the industry [1] Group 1: Policy Dividend Decline - The home appliance industry faces common challenges due to the expected decline of policy subsidies, which previously stimulated market growth [2] - Haier Smart Home has embraced AI and developed a Uhome model to enhance its ability to create popular products, achieving significant growth for its brands, with increases of over 15% for Leader, 18% for Haier, and over 20% for Casarte [2] Group 2: Demand Structure Upgrade - The shift from standardized product consumption to personalized value consumption necessitates a digital transformation to meet diverse consumer needs [3] - Haier Smart Home's digital transformation encompasses the entire value chain, improving operational efficiency and reducing costs, with design costs down by 5.98% and manufacturing costs reduced by over 8% [3][4] Group 3: Global Competition Intensification - The international trade environment poses challenges for Chinese home appliance exports, making global branding essential for survival and growth [6] - Haier Smart Home has achieved 11.66% growth in overseas markets through diversified global strategies and localized operations, demonstrating its competitive edge in the global market [6]

Core Viewpoint - The company reported a strong performance in H1 2025, with significant growth in air conditioning market share and robust expansion in emerging markets, indicating a positive outlook for the full year [1] Financial Performance - In H1 2025, the company achieved revenue of 156.49 billion, a year-on-year increase of 10.22%, and a net profit of 12.03 billion, up 15.59% [3] - For Q2 2025, revenue reached 77.38 billion, reflecting a 10.39% year-on-year growth, while net profit was 6.55 billion, increasing by 16.02% [3] - The company's gross margin for H1 2025 was 26.9%, up 0.1 percentage points, and the net margin was 7.98%, an increase of 0.39 percentage points [4] Market Dynamics - The domestic air conditioning market share increased to 12.8%, a rise of 0.5 percentage points year-on-year, with notable growth from the Casarte brand exceeding 20% and Leader brand growing over 15% [3] - In the overseas market, overall revenue grew by 11.7% year-on-year, with North America showing double-digit growth in high-end brands and emerging markets like South Asia, Southeast Asia, and the Middle East and Africa growing by 33%, 18%, and 65% respectively [3] Strategic Initiatives - The company launched innovative products such as the Haier Mairang refrigerator and Leader lazy three-tub washing machine, leading industry trends [3] - Digital transformation initiatives, including digital inventory and marketing, are being implemented to enhance product turnover and expand market touchpoints [3][4] Profitability Improvement - The improvement in profitability is attributed to the effective growth of high-end brand Casarte, increased scale in air conditioning business, and a strong high-end brand strategy in overseas markets [4] - The sales and management expense ratio improved by 0.1 percentage points in H1 2025, supported by digital transformation efforts [4]