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HAIER SMARTHOME Plunges 5%+ in Early Trading; Broker Eyes Impact of New Air Conditioner Capacity on Profit Margins
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 ...
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HAIER SMARTHOME Plunges 5%+ in Early Trading; Broker Eyes Impact of New Air Conditioner Capacity on Profit Margins
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After announcing its 2024 results, HAIER SMARTHOME (06690.HK)  +0.050 (+0.224%)    Short selling $76.59M; Ratio 22.661%   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)  -0.500 (-0.689%)    Short selling $54.48M; Ratio 16.661%   .

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.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-04-25 16:25.)

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