Haier SmartHome's stock plummeted 5.39% during intraday trading on Monday, reflecting broader weakness in the home appliance sector.

The decline follows the release of April production data for major white goods, which showed a 3.6% year-on-year decrease in total scheduled production. All three major categories—household air conditioners, refrigerators, and washing machines—faced pressure in domestic sales due to diminishing effects of policy stimulus, sluggish end-user demand, and high channel inventory. Manufacturers are actively controlling production to manage risks.

Additionally, high and fluctuating raw material costs, particularly for copper and aluminum, are further constraining companies' production willingness and impacting profitability, contributing to the stock's downward movement.