Haier Smart Home's transformation effectively hedges tariffs and after nearly 8.9 billion in investments, achieves double record highs in performance

Ask AI · How will the future smart HVAC business reshape the growth curve?

On March 26, Haier Smart Home released its 2025 annual report. As an analyst who has followed Haier Smart Home for the long term, it is not hard to see that this annual report remains solid: revenue first exceeded 300 billion yuan, attributable net profit was 19.553 billion yuan, and both revenue and profit hit new highs.

To put it in perspective, over the past year the global industry faced broad pressure. On the one hand, overseas markets have been continuously stepping up tariff measures, creating substantial obstacles for companies expanding abroad; on the other hand, the overall decline in China’s home appliance market reached 25%. Against such a complex external environment, Haier Smart Home’s annual report is undoubtedly a clear interpretation of “exceptional resilience and steady operations.”

For today’s investors, a question worth asking about Haier Smart Home’s financial results is: how has it withstood changes in tariffs and industry fluctuations externally, absorbed the growth pressure brought by nearly 8.9 billion yuan in strategic investment internally, and achieved double record highs in performance?

This article will interpret it from three aspects.

01 New performance highs demonstrate strong operational resilience

Haier Smart Home’s double-high performance in uncertain moments has shown strong operational resilience.

First, Haier Smart Home has broken industry boundaries and continuously strengthened corporate competitiveness through its steadily implemented smart home strategy. In an era when competition in the industry is becoming increasingly fierce, Haier Smart Home has substantially enhanced its industrial competitiveness by building a big kitchen and big smart HVAC ecosystem. Market shares for refrigerators, washing machines, and water heaters reached 47.7%, 47.4%, and 32.5% respectively—further expanding advantages on the basis of its previous leadership. Global sales of home air conditioners increased 14.8% year over year, continuing to lead the industry. Haier’s commercial air conditioners, across multiple categories, have maintained the #1 position by market share.

Second, in the multi-brand segment, Haier Smart Home’s results have also been quite remarkable. Casarte has maintained the #1 position in the high-end market for 10 consecutive years, achieving double-digit growth in 2025. Leader (Leader) first broke the 10 billion-yuan revenue threshold, with a 30% year-over-year increase. This multi-brand coordinated playbook amplifies the power of bundled system product offerings—different brands, different positioning, and different scenarios work together to form a strong combined force. In today’s industry, where competition is highly homogeneous, this stands out as especially valuable.

Third, Haier Smart Home’s localized branding strategy showcases its advantages in globalization. Specifically, in the United States, the revenue of its premium brands grew 7% and has remained #1 in the industry for four consecutive years. In Europe, the market share in the white goods sector ranked first among Chinese companies, with revenue growth of 19.9%. In Australia and New Zealand, Haier and Fisher & Paykel together captured the #1 spot in the large home appliances market across both brands. In Japan as well as emerging markets including Southeast Asia, South Asia, and the Middle East and Africa, revenue has all achieved impressive growth.

02 External and internal shocks under short-term pressure

Looking back at this financial report, the pressures Haier Smart Home faces are also very clear.

First is the macro environment.

In 2025, overseas markets such as the United States continued to increase tariff pressure on home appliance products. High tariffs are imposed on China’s exports of white goods to the United States. In addition, origin tracking and traceability regulation has become increasingly strict, making the external environment for Chinese companies expanding abroad even more challenging. In China, the decline and withdrawal of supplementary subsidies (guo补) and the fading of the early-consumption effect caused by prior policy stimuli have led to a sharp drop in industry demand, with the industry down 25% year over year in Q4.

Second is internal investment.

In 2025, Haier Smart Home invested nearly 8.9 billion yuan in global supply chain construction, R&D, and other areas. This includes the start of construction such as large drum washers in the United States for GE Appliances, and refrigerators in Egypt; as well as Thailand air conditioners and various commercial projects in Jiaozhou. In addition, the spending for strategic restructuring of European operations and integration costs related to CCR will all create short-term pressure on earnings growth.

However, after transformation results offset multiple shocks, Haier Smart Home still achieved new double record highs in both revenue and profit—this is extremely hard to come by in this environment.

03 New space brought by four major plans

In this annual report, Haier Smart Home has clearly laid out four development plans.

First is to comprehensively advance the TC transformation and embrace AI to improve efficiency across the full process.

Second is to reconstruct the integrated large smart HVAC strategy and build a second growth curve. At present, the revenue share of the large smart HVAC business accounts for one quarter of total revenue. According to Haier Smart Home’s own metrics, the future goal is to raise it to one third, and then to one half, becoming a core growth driver. Clearly, this restructuring will significantly optimize the business structure and strengthen resilience against the cycle.

Third is that Haier Smart Home also needs to reconstruct its overseas brand-building capabilities. Currently, Haier Smart Home has already achieved leadership in the Americas, Australia, and Europe, but there is still substantial room for improvement.

Fourth is to lay out emerging tracks such as household robotics and smart health and eldercare, and seize new growth opportunities. These moves will open up entirely new growth space, and they are also points that investors need to pay attention to.

04 Conclusion

Haier Smart Home’s 2025 report of steady growth and strong resilience is a true reflection of how an industry leader navigates through cycles and resists risks.

Haier Smart Home is moving toward a platform service-oriented technology ecosystem company centered on users, and its growth logic is becoming increasingly clear and firm. Faced with future uncertainty, Haier Smart Home has already proven through action: with continued innovation-driven momentum, it will bring more surprises to both the capital market and the industry.

For long-term-oriented players, you can always find a path to certain growth amid adversity. Haier Smart Home is the best proof of that statement.