Haier Smart Home reports robust Financial Performance for Q1 2024,
leveraging on Sustainability and Digital Innovation

EQS-News: Haier Smart Home Co.,Ltd. / Key word(s): Quarterly / Interim
Statement/Quarter Results
Haier Smart Home reports robust Financial Performance for Q1 2024,
leveraging on Sustainability and Digital Innovation

29.04.2024 / 14:15 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Haier Smart Home reports robust Financial Performance for Q1 2024,
leveraging on Sustainability and Digital Innovation

  * Total Revenue of RMB 68.98 billion, a 6.01% increase year-over-year (Q1
    2023: RMB 65.07)

  * Net Cash Flow from operating activities rose by 27.31% to RMB 1.72
    billion

* Enhanced process efficiency and cost reductions through digitalization

Qingdao / Shanghai / Hong Kong / Frankfurt, April 29, 2024 - Haier Smart
Home Co., Ltd. ("Haier Smart Home" or "the Company"), a global leader in
smart home solutions (D-share 690D.DE, A-share 600690.SH, H-share 06690.HK),
today announced its financial results for the first quarter of 2024.

Building on the momentum from its 2023 annual report, Haier Smart Home
delivered a strong start to 2024, achieving a notable increase in total
revenue and profit. Revenue reached RMB 68.98 billion, marking a 6.01%
increase compared to the same period of the previous year. Net profit
attributable to the owners of the parent company climbed to RMB 4.77
billion, up 20.16% year-over-year, while net profit after adjusting for
non-recurring items grew by 25.41% to RMB 4.64 billion.

Innovation-driven growth with Casarte Brand

Casarte, the company's premium appliance brand, continues to lead in China's
high-end market, surpassing 20 million customers. At the recent Appliance &
Electronics World Expo 2024, Asia's largest and one of the world's three
largest international consumer electronics and smart home exhibitions,
Casarte unveiled a strategic partnership with Boloni, a home furnishing
company. At Milan's International Furniture Fair (Salone del Mobilie Milano)
Casarte blended design and technology showing fashionable combinations of
refrigerators and kitchen cabinets, as well as refrigerators and wine
cabinets, reflecting Haier´s commitment to luxury and performance.

Accelerating growth with technology

Responding to consumer demands for efficiency and convenience, Haier
introduced the new "Lingxi Series" of air conditioners. These units feature
advanced technologies such as a cool core bridge, heat flow defrosting, and
smart offline voice systems, quickly becoming the top-selling models in
China's direct sales channels.

Haier´s commitment to Sustainability

Haier Smart Home remains dedicated to integrating sustainability into its
product lineup, aiming to provide consumers with healthy, green, smart, and
aesthetically pleasing living solutions. This commitment is exemplified by
the "Boguan refrigerators," which are designed to be over 15% more
energy-efficient than traditional models. Additionally, the "Essence Wash"
washing machine utilizes air-washing technology to save 38% of water and
reduce electricity usage by 29%. Similarly, Haier's air conditioners are
engineered to reduce electricity consumption by up to 29%, supporting the
company's goal of enabling a low-carbon lifestyle for its users.

Further success in overseas markets

In the first quarter of 2024, Haier Smart Home achieved a 4% increase in
overseas revenue, with a double-digit operating profits rising
year-over-year. Regionally, the company made notable gains in the European
and American markets, where, according to GfK China Market Monitor, Haier
Europe's market share expanded by 0.9 percentage points to 9% between
January and February.

Facing softening demand in the major home appliance sectors of Europe and
America, the company has proactively developed and introduced flagship
products tailored to local consumer needs. These efforts were supported by
enhancements in local supply chains and sales networks, alongside the
utilization of global R&D, procurement, supply chain, and logistics
synergies. At the Spring Canton Fair in April 2024, Haier Smart Home
unveiled the "X11 washing machine," a direct response to European energy
constraints. Engineered through collaborative efforts across R&D centers in
Europe, Australia, and China, the X11 washing machine achieves 50% greater
energy efficiency than the highest European Class-A standards, underscoring
the company´s commitment to innovation and sustainability in appliance
technology.

Expanding SAN YI NIAO Brand

SAN YI NIAO is pioneering the integration of home appliances and home
furnishings, offering differentiated solutions that cater to the evolving
needs of consumers. Since its inception three years ago, the brand has been
at the forefront of combining smart-home technology with customized
furnishing solutions, leading to sustained growth in its retail footprint
and user engagement.

In the first quarter of 2024, SAN YI NIAO delivered remarkable progress
across key performance indicators. Daily active users of its scenario-based
solutions surged by 32%, the number of retail locations expanded by 85%, and
retail sales grew by 30% year-over-year. These achievements underscore SAN
YI NIAO's successful strategy in merging cutting-edge technology with
functional design, thereby setting new industry standards and enhancing
consumer experiences.

Enhancing efficiency through Digital Transformation

Haier Smart Home has effectively embraced digital transformation,
significantly optimizing its expense ratios. This shift has led to improved
efficiencies across marketing, logistics, and warehouse operations,
resulting in a reduced selling expense ratio of 13.1% in Q1 2024. This
corresponds to a decrease of 0.5 percentage points year-over-year.
Furthermore, the strategic adoption of digital tools has also refined the
administrative expense ratio, which decreased by 0.3 percentage points
compared to Q1 2023, achieving a new low of 3.2%. These enhancements reflect
Haier Smart Home's commitment to leveraging digital advancements to
streamline operations and reduce costs.

Sustained growth

Despite escalating competition and a volatile external environment, Haier
Smart Home's performance in the first quarter of 2024 has notably exceeded
public expectations, demonstrating robust resilience and significant growth
potential. Looking ahead, the company is committed to continuous
improvements in cost reduction and operational efficiency through ongoing
digitalization efforts. Additionally, by expanding its global presence,
Haier Smart Home is poised to seize further development opportunities,
paving the way for sustained high-quality growth across its markets.

The Q1 report 2024 as at 31 March 2024 is available online at
https://smart-home.haier.com/en/.


IR Contact:
Haier Smart Home Hong Kong
T: +852 2169 0000
Email: ir@haier.hk

Press Contact:
CROSS ALLIANCE communication GmbH
Sara Pinto
Sven Pauly
pi@crossalliance.de

T: +49 (0) 89 1250903 35

About Haier Smart Home Co., Ltd.:
Haier is one of the world's leading manufacturers of household appliances
with a focus on smart home solutions and customized production. Haier Smart
Home Co., Ltd. develops, produces and distributes a wide range of household
appliances. These include refrigerators, freezers, washing machines, air
conditioners, water heaters, kitchen appliances, small household appliances,
and an extensive range of intelligent household appliances. The Company
distributes its products through leading household brands such as Haier,
Casarte, Leader, Candy, GE Appliances, AQUA and Fisher & Paykel. Haier Smart
Home Co., Ltd. has launched Smart Home Experiential Cloud in the Chinese
market, which connects homes, users, enterprises and ecosystem partners, and
facilitates the integration of Haier's online, offline and micro-store
businesses and supports user interaction to further optimize the user
experience.


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   Language:       English
   Company:        Haier Smart Home Co.,Ltd.
                   Haier Industrial Park, Laoshan District
                   266101 Qingdao
                   China
   Phone:          +49 6172 9454 143
   Fax:            +49 6172 9454 42143
   E-mail:         ir@haier.hk
   Internet:       smart-home.haier.com
   ISIN:           CNE1000031C1, CNE000000CG9, CNE1000048K8
   WKN:            A2JM2W, A2QHT7
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1891091

End of News EQS News Service
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1891091 29.04.2024 CET/CEST