Haier Full-Year Report 2023

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In 2023, Haier Smart Home achieved a global revenue of RMB261.428 billion, marking a year-on-year growth of 7.3%. Our net profit attributable to shareholders grew 12.8% to RMB16.597 billion; the net profit attributable to shareholders deducting non-recurring items under PRC GAAP amounted to RMB15.824 billion, a growth of 13.3% year-on-year.

For the financial year ended 31 December, 2023, the net profit attributable to shareholders of the Company was RMB16.597 billion, representing a 12.8% increase from 2022. The net profit attributable to shareholders of the Company after deducting non-recurring items amounted to RMB15.824 billion, representing a growth of 13.3% compared to the same period in 2022.

The Company’s gross profit margin reached 31.5% in 2023, up 0.2 percentage points compared to the same period in 2022. Margin improvement in domestic market was driven by lower commodity prices, digitalisation in procurement and R&D, development of a digitalised production and sales coordination system, and improved product mix. In overseas markets, benefits from better product mix and production capacity utilisation were partly offset by intensified competition in key regions, resulting in a year-on-year decline in gross profit margin.