According to the Zhitong Finance App, Haier Smart Home (06690) announced interim results for the six months ended June 30, 2026. The group obtained revenue of RMB 152.09 billion (same unit), a year-on-year decrease of 2.8%; adjusted operating profit of RMB 12.752 billion, a decrease of 3.4%; profit attributable to the company's shareholders of RMB 10.316 billion, a decrease of 14.3%; and profit per share.
According to the announcement, the main reasons for the decline in revenue are as follows: (1) The Chinese market: Affected by factors such as continuous adjustments in the real estate industry, weak consumer confidence, and the decline in trade-in policy dividends, the overall demand in the domestic appliance industry has declined. The company's domestic market revenue has declined along with the general trend of the industry, but the company's market share has been rising steadily. (2) Overseas markets: The US market is affected by an environment of high inflation and high interest rates. Real estate sales continue to be sluggish, demand for home appliances is suppressed, and the scale of the industry is declining; although the company's share in the US market continues to rise, due to the overall decline in the industry, the US business revenue is still under some pressure. At the same time, markets such as Europe, South Asia, and Southeast Asia continued to grow, and the regional structure of overseas revenue was further balanced, hedging the downward pressure on the US market and keeping overall overseas revenue basically stable.
Due to the appreciation in the current period, the exchange loss for the current period was $911 million, and after accounting for fair value changes and hedging income of $207 million in investment income, the exchange loss was $704 million (881 million yuan of exchange income for the same period in 2025, and 882 million yuan after fair value changes and hedging income of 101 million yuan in investment income), and the impact of fluctuating factors on exchange profit and loss reached 1,586 million yuan. If fluctuations in exchange gains and losses are excluded, profit before tax was drastically reduced compared to the same period.