- Revenue of RMB 73.69 billion
- Net profit attributable to shareholders of the parent company of RMB 4.65 billion, up sequentially compared to Q4 2025
- Basic EPS of RMB 0.50
- China operating profit grew year-on-year; excluding North America, the Company’s combined operating profit advanced more than 10% year-on-year.
- 54 million A-shares designated for cancellation; D-share buy-back-for-cancellation
Haier Smart Home Co., Ltd., a global leader in smart home solutions, today announced its results for the quarter ended 31 March 2026.
Management Commentary
This was a quarter of contrasts. Both China and our core international markets sustained healthy momentum. North America faced meaningful headwinds from the evolving trade policy landscape and severe winter weather.
We are running a clear playbook in North America: reshaping our local supply chain, advancing sourcing actions, moving the product mix upmarket, and driving cost productivity. We have transitioned from the initial response phase into the next chapter, focused on operational efficiency and capability rebuilding. We expect this work to return our North America business to a more resilient, higher-quality operating model and position it to capture the long-term opportunity ahead.
Our globally-enabled, local-for-local model — built across a portfolio of brands and core markets — gives us the confidence to navigate complex environments. We will continue to deliver high-quality growth and stronger returns to shareholders through any cycle.
— Li Huagang, Chairman and Chief Executive Officer, Haier Smart Home Co., Ltd.
China
Operating profit in China 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, which lifted 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.
International
Overseas revenue declined 3.2% year-on-year. Outside North America, both revenue and operating profit grew, with Europe, South Asia and Southeast Asia all delivering steady growth.
North America: GE Appliances was pressured in Q1 2026 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 for the new trade environment.
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: South Asia grew by 17% year-on-year in terms of revenue and profitability improved; Southeast Asia grew by 12%.
New Growth Businesses
The Company advanced its initiative — announced at the end of 2025 — 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, extending the strong trajectory established since joining the Company.
Shareholder Returns
The Company 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.
