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Haier Smart Home (600690) investor relations material
Haier Smart Home Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 was RMB 73.687 billion, down 6.86% year-over-year, with net profit attributable to shareholders at RMB 4.652 billion, down 15.22% year-over-year, but sequentially improved from Q4 2025.
Performance was pressured by extreme weather and higher tariffs in North America, but excluding North America, operating profit grew over 10% year-over-year.
Strategic focus included AI-driven efficiency, global market expansion, and integration of large HVAC operations.
Financial highlights
Total profit for Q1 2026 was RMB 5.72 billion, down 16.37% year-over-year.
Net cash flow from operating activities was RMB 1.61 billion, down 29.46% year-over-year.
Basic and diluted EPS were RMB 0.50, down from RMB 0.59 year-over-year.
Gross margin was 25.3%, down 0.1 percentage points year-over-year.
Outlook and guidance
Management expects continued operational resilience, with ongoing focus on AI, supply chain optimization, and global expansion to drive long-term growth.
- Record revenue and profit growth in 2025, with strong global expansion and higher dividends.600690
H2 202526 Mar 2026 - 2024 net profit surged 12.92% on record revenue, margin gains, and global expansion.600690
H2 202412 Dec 2025 - Double-digit profit growth and margin improvement driven by innovation and global expansion.600690
Q3 20255 Nov 2025 - Revenue and net profit grew double digits year-over-year, driven by digital and global expansion.600690
Q1 202510 Sep 2025 - Net profit surged 15.6% to RMB12.03 billion on 10.2% revenue growth, with strong global gains.600690
H1 202528 Aug 2025 - Q3 net profit surged 13.2% year-over-year on steady domestic and emerging market growth.600690
Q3 202413 Jun 2025 - Net profit rose 16.3% on resilient global growth and margin gains despite industry headwinds.600690
H1 202413 Jun 2025
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