Haier Smart Home Co., Ltd. (A-share: 600690.SH; H-share: 06690.HK; D-share: 690D.DE), a global leader in smart home solutions, today announced its results for the quarter ended 31 March 2026. The company reported revenue of RMB 73.69 billion and net profit attributable to shareholders of the parent company of RMB 4.65 billion, up sequentially compared to Q4 2025. Basic earnings per share stood at RMB 0.50.
According to the company's management commentary, the quarter was marked by contrasts. China and core international markets sustained healthy momentum, while North America faced headwinds from the evolving trade policy landscape and severe winter weather. Chairman and Chief Executive Officer Li Huagang stated that the company is running a clear playbook in North America, reshaping its local supply chain, advancing sourcing actions, moving the product mix upmarket, and driving cost productivity. He noted that Haier has transitioned from the initial response phase into a focus on operational efficiency and capability rebuilding, aiming to return the North America business to a more resilient, higher-quality operating model.
In China, operating profit grew year-on-year, with margin expansion offsetting short-term revenue pressure in a home appliance market that contracted 6.2% by retail value, according to All View Cloud (AVC). Profit growth reflected a continued mix shift toward premium categories, lifting domestic gross margin. Residential air conditioning grew revenue against a sharp industry decline and extended its high-end leadership, now ranking No. 1 in the RMB 11,000+ price band, up from its prior top position in the RMB 15,000+ segment (according to GfK). In water solutions, top-rated energy-efficient gas water heaters accounted for a materially higher share of the company's portfolio than the industry average (GfK). AI and digital capabilities also lifted operating efficiency, with gains in inventory turnover, fulfilment and resource allocation, and a year-on-year decline in the selling expense ratio.
Internationally, overseas revenue declined 3.2% year-on-year. However, outside North America, both revenue and operating profit grew, with Europe, South Asia and Southeast Asia all delivering steady growth. In North America, GE Appliances was pressured by severe winter weather and the evolving trade policy landscape. The business has been advancing supply chain and sourcing actions, mix and price initiatives, and cost productivity to rebuild competitiveness. In Europe, revenue continued to grow, with HVAC up more than 20% year-on-year. Profitability improved as the benefits of 2025’s restructuring flowed through, and the premium Horizon refrigerator line accelerated its rollout. Emerging markets showed strong performance: South Asia grew by 17% year-on-year in revenue and profitability improved; Southeast Asia grew by 12%.
The company advanced its initiative to bring residential air conditioning, smart building and water solutions onto a unified platform. In Q1 2026, the platform delivered its first integrated solution, with its public debut at a domestic HVAC industry expo in Shijiazhuang. The company also launched a new residential central air conditioning unit featuring ultra-wide frequency operation from 4Hz, built on the platform’s shared technology architecture. Smart Building Solutions completed more than 100 commercial AI deployments across data centres and building energy management. Recent acquisitions CCR (Carrier Commercial Refrigeration) and Kwikot each delivered double-digit revenue growth in the quarter.
Haier Smart Home is stepping up shareholder returns through a sustained programme of buybacks and cancellations. 74.54 million A-shares repurchased during 2023–2026 are designated for cancellation, accretive to EPS upon completion. In March 2026, the company launched a new A-share buyback of RMB 3-6 billion over 12 months, of which RMB 600 million has been deployed to date. The company has also proposed a separate voluntary D-share buy-back-for-cancellation offer of up to approximately 81 million shares, subject to shareholder approval and other pre-conditions.
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