QINGDAO, China, May 7, 2020
QINGDAO, China, May 7, 2020 /PRNewswire/ -- The world's leading home appliance brand and smart home ecosystem builder Haier Smart Home ("Haier", Shanghai: 600690), hereinafter referred to as "Haier", released both its 2019 annual report and Q1 2020 earnings on April 30.
Haier's revenue increased by 9.05% year-on-year to reach RMB 200.762 billion in 2019, contributing RMB 8.206 billion to Haier Group's net profit, representing an increase of 9.66%. Meanwhile, it achieved revenues of RMB 43.141 billion in Q1 2020, a decline of 11.09%; net profit stood at RMB 1.07 billion, down 50.16%. Despite a challenging first quarter, Haier's overall performance exceeded industry averages, demonstrating notable resilience.
In 2019, Haier recorded stellar growth despite an overall decline in the domestic appliances industry.
Premium products help profits and market share double overseas
In 2019, Haier's overseas revenues grew by 22% to RMB 94.1 billion, while pre-tax profits grew by more than 30%. This substantial growth momentum is thanks to a focus on brand creation, high-end products, and upgraded e-commerce.
Currently, Haier boasts seven global brands in its portfolio, namely GE Appliances (US), Candy (Italy), AQUA (Japan), Fisher & Paykel (Australia/New Zealand), Haier, Casarte, and Leader. It has 122 factories around the world, with 54 overseas.
Experiential cloud broadcasts lead smart home ecosystem growth
In 2019, Haier launched its IoT ecosystem and smart home experiential cloud broadcast platform, paving the way for a new era of products and industry transformation.
One such example is Haier's Internet of Clothes (IoC) ecosystem, which engages 13 industries, including clothing, home textiles, laundry detergent, and leather. Haier has been able to expand its scope from washing machines to laundry services and an intelligent cleaning experience, attracting over 5,300 domestic and foreign players to help solve user needs together. As a result, Haier's ecosystem revenues grew by 68% to RMB 4.8 billion in 2019.
In the Internet of Things era, Haier will continue to explore and enlarge the possibilities of smart homes with 5G.
For more information, visit: http://www.haier.net/en/.