Haier Smart Home Co., Ltd. reported third-quarter 2026 revenue of RMB 69.70 billion and net profit attributable to shareholders of RMB 4.68 billion, bringing nine-month revenue to RMB 221.82 billion and net profit to RMB 15.00 billion. The nine-month gross margin remained broadly stable year-on-year at 27.2%, according to the www.newmediawire.com release. The stability in gross margin, despite persistent cost pressures and currency fluctuations, underscores the company's pricing power and cost discipline. More importantly, Haier gained retail value share in China, reaching 20.6% online and 25.0% offline in the first nine months, up 2.9 and 1.7 percentage points year-on-year, respectively. That share gain is significant because it shows Haier is growing faster than the market in its home country, even as competition intensifies.
Chairman and CEO Li Huagang said the US supply-chain restructuring is nearly complete and has met its objectives. This matters because it reduces operational risk and positions the company to better navigate trade policy shifts, including tariffs. The restructuring also supports margin stability by lowering logistics and production costs. Haier is now investing in more productive facilities and changing how it runs the business, using AI and closer integration to improve efficiency over the next two to three years. That efficiency drive could yield sustained profit growth even if revenue growth moderates.
Growth is coming from better products and a better consumer experience. New products include AI technology that improves the thawing of frozen food and a four-drum AI laundry system that lets consumers wash different types of clothing separately. These innovations are not just bells and whistles; they address specific consumer pain points and can command premium prices, supporting margins. In North America, GE Appliances gained core appliance market share in the first nine months, with strong growth in small appliances. In Europe, retail value shares in refrigeration and laundry increased in core markets, helped by product innovation and the global product platform. Revenue in India grew at three times the industry rate, and unit sales of solar-powered air conditioners doubled in Pakistan. These international gains reduce reliance on any single market and demonstrate the effectiveness of Haier's localized R&D and manufacturing strategy.
The company is prioritizing its HVAC and emerging-market businesses, confident that local expertise and regional supply chains can increase their share of revenue and profit. HVAC integration is already reducing costs and improving efficiency, with coordinated procurement and in-house manufacturing making the commercial air-conditioning business in China more cost-competitive. In North America, GE Appliances reported strong growth in Air & Water Solutions and introduced a new variable refrigerant flow system for commercial customers. In Europe, Haier is accelerating R&D for air conditioners and heat pumps, including models using R290 refrigerant to meet demand for improved environmental performance. These moves position Haier to capture growth in energy-efficient heating and cooling, a sector poised for expansion as regulations tighten. Overall, the results suggest Haier is successfully balancing short-term margin stability with long-term investments in AI, HVAC, and emerging markets, which should support its competitive position and shareholder value.
