Financial Performance - Haier Smart Home reported a revenue of RMB 285,971 million for the year ended December 31, 2024, representing a 4.3% increase from RMB 274,198 million in 2023[2]. - The gross profit for the same period was RMB 77,843 million, up 5.7% from RMB 73,641 million in the previous year[2]. - Adjusted operating profit increased by 14.9% to RMB 20,437 million compared to RMB 17,793 million in 2023[2]. - Net profit attributable to shareholders rose by 12.9% to RMB 18,741 million from RMB 16,597 million in 2023[2]. - Basic earnings per share increased by 12.8% to RMB 2.02, compared to RMB 1.79 in the previous year[2]. - The company proposed a dividend of RMB 9.65 per 10 shares, up from RMB 8.04 in 2023[2]. - Total revenue for the year ended December 31, 2024, reached RMB 372,070 million, an increase from RMB 356,766 million in the previous year, representing a growth of approximately 4.3%[27][28]. - The pre-tax profit for the year ended December 31, 2024, was RMB 22,733 million, compared to RMB 20,211 million in the previous year, reflecting an increase of approximately 12.5%[27][28]. - The total assets as of December 31, 2024, amounted to RMB 290,114 million, an increase from RMB 261,068 million, showing a growth of around 11.1%[29][30]. - The total liabilities as of December 31, 2024, were RMB 171,725 million, compared to RMB 153,538 million in the previous year, representing an increase of approximately 11.8%[29][30]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its product offerings in the smart home sector[12]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[27]. - The company is actively addressing risks related to tariffs and trade measures that could impact supply chain costs and market demand[174]. - The company is enhancing supply chain resilience and efficiency by optimizing network layout and establishing a diversified supplier system[173]. - The company is focusing on high-end brand development in overseas markets, tailoring strategies to meet diverse consumer needs[170]. - The company is expanding into emerging industries such as smart elderly care and household service robots, aligning with trends in aging and low-carbon economies[171]. Product Development and Innovation - Research and development expenses increased to RMB 10,740 million, compared to RMB 10,380 million in 2023, indicating a focus on innovation[39]. - The company aims for over 50% of its new products to be launched by 2025, enhancing its product iteration speed[53]. - The company launched innovative products in 2024, including a refrigerator with a 98% nutrient retention rate and a washing machine with a global leading design, enhancing its competitive edge in the market[161]. - The company utilizes a global collaborative platform for product development, significantly enhancing product quality and development precision through shared resources and expertise[157]. - The company has implemented a unified model for training young engineers, fostering talent development and improving product innovation capabilities[158]. Acquisitions and Partnerships - A voting rights entrustment agreement was established, allowing the company to control 100% of the voting rights of Youjin, which holds 55% of the shares, effective from December 20, 2024[18]. - The company completed the acquisition of Kwikot, a leading water heater manufacturer in South Africa, to accelerate its global expansion in the water industry[54]. - The acquisition of Carrier's commercial refrigeration business will expand the company's presence in retail and cold storage refrigeration, creating new growth points[55]. - The company expanded its market presence through strategic acquisitions, including the commercial refrigeration business of Carrier and the South African water heater leader Kwikot[180]. Financial Position and Assets - Total assets increased to RMB 160,427 million in 2024 from RMB 151,762 million in 2023, reflecting a growth in both current and non-current assets[6][7]. - The company's net asset value increased to RMB 118,389 million in 2024, up from RMB 107,530 million in the previous year[9]. - The company's overseas assets amounted to RMB 139,690 million, representing 48.2% of total assets as of December 31, 2024[179]. Operational Efficiency - The company reported a cash and cash equivalents balance of RMB 54,981 million as of December 31, 2024, compared to RMB 56,683 million in the previous year[29][30]. - The net cash flow from operating activities in 2024 was RMB 26.543 billion, which is 1.4 times the net profit[49]. - The company is managing inventory levels to avoid excess or shortages, which could impact sales opportunities[176]. - The company is focusing on capital expenditure risk management by optimizing capacity layout and improving utilization efficiency in response to macroeconomic changes[176]. Sustainability and ESG Efforts - The company is committed to sustainable development and has received an AA rating from MSCI for its ESG efforts, leading the domestic home appliance industry[150]. - The company has implemented a global ESG governance framework, enhancing its organizational structure to support sustainable development initiatives[167]. Market Share and Competitive Position - The company has maintained its position as the global leader in large home appliance retail volume for 16 consecutive years[141]. - The company holds the leading market share in major home appliance categories in China, with the Casarte brand capturing 49% in high-end refrigerators, 34% in air conditioners, and 88% in washing machines priced above 15,000 yuan[151]. - The company achieved a global market share of 25.9% in Asia, 24.5% in North America, 15.9% in Australia and New Zealand, and 8% in Western Europe for major home appliances[148].
海尔智家(06690) - 2024 - 年度业绩