Haier Smart Home's 2020 H1 Results at a Glance
On August 28, Haier Smart Home (600690.SH), a subsidiary company under Haier Group, announced its 2020 interim results: In the first half of the year, Haier Smart Home obtained revenue of RMB95.7 billion; the net profit attributable to company amounted to RMB2.8 billion. In a bigger picture, the Company’s operating trend had shown improvements over the months and has resumed high growth rate, where the growth rate of revenue and profit in June has reached 20.6% YoY and 21.4% YoY respectively. In the first half of the year, the full-suite sales volume of Haier Smart Home increased by 107% YoY.
Viewing from a domestic perspective, Haier Smart Home’s digital transformation has shown an effect. In terms of a high-end aspect, Casarte has escalated its leading position with the resumption of high growth in the second quarter, as its domestic air-conditioning revenue has reached double-digit growth. Oversea epidemic prevention measures worked properly, “Dual Cycle” worked effectively. As a result, in the first half of the year, revenue has experienced an increase rather than a decline, and the operating profit margin has increased from the previous month.