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HAIER SMARTHOME Plunges 5%+ in Early Trading; Broker Eyes Impact of New Air Conditioner Capacity on Profit Margins
Recommend 12 Positive 17 Negative 9 |
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After announcing its 2024 results, HAIER SMARTHOME (06690.HK) faltered this morning. It last sank by 5.2% to $25.3, on a turnover of over $250 million for the time being. After the market closed yesterday (27th), HAIER SMARTHOME announced its 2024 results. Its revenue climbed by 4.3% YoY to RMB285.971 billion, gross profit increased by 5.7% to RMB77.843 billion, and net profit rose by 12.9% YoY to RMB18.741 billion, with EPS standing at RMB2.02. The company also announced plans to invest nearly RMB1.8 billion to build a washing machine factory, which will be expected to start production by the end of next year. CLSA pointed out that HAIER SMARTHOME's 4Q24 revenue surged by 11.7% YoY to RMB70 billion, exceeding the broker's expectations. Meanwhile, its air conditioner sales hiked by 13.4% in 2H24, with domestic deliveries in 4Q24 spiking by 29% YoY as driven by government subsidies, outpacing MIDEA GROUP (00300.HK). However, the profit margin for air conditioners declined due to new capacity, affecting profit growth for 2025 and 2026. CLSA lowered its 2025-26 net profit forecasts for HAIER SMARTHOME by 4.9% and 7% respectively. AAStocks Financial News |
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