Abstract

HAIER SMARTHOME will report quarterly results on August 27, 2026 post-Market; this preview summarizes last quarter’s performance and synthesizes current-quarter forecasts for revenue, margins, net profit and adjusted EPS alongside institutional commentary from recent months.

Market Forecast

Consensus tracking based on the company’s guidance framework indicates current-quarter adjusted EPS is estimated at 0.65, implying a year-over-year change of -8.45%, while the prior quarter’s EPS baseline was 0.50 with a -15.25% year-over-year change. Forecasted topline growth embeds a mid-single to high-single digit increase versus last year, with margin assumptions largely stable to modestly higher given product mix normalization and cost discipline; net profitability is expected to hold near recent trends, and adjusted EPS points to sequential improvement from the prior quarter. The main business outlook highlights steady replacement demand in core refrigeration and laundry categories and improving pricing discipline; competitive intensity remains manageable as promotional cadence normalizes. The most promising segment is Air Solutions, where revenues are positioned to benefit from cooling season demand and broader penetration of energy-efficient models, with segment revenue contribution expected to outpace the group average on a year-over-year basis.

Last Quarter Review

In the last reported quarter, HAIER SMARTHOME delivered a gross profit margin of 25.34%, net profit attributable to the parent company of 4.65 billion in RMB with a quarter-on-quarter growth of 113.37%, a net profit margin of 6.31%, and adjusted EPS of 0.50, which represented a -15.25% year-over-year change. One notable highlight was the sharp sequential rebound in profitability, reflecting normalization in operating cadence and cost controls after a softer prior period. Main business performance showed significant revenue scale across core categories: Refrigerators/Freezers at 84.76 billion, Home Laundry Care at 65.56 billion, and Air Solutions at 54.39 billion in RMB, while Kitchen Appliances contributed 41.54 billion; segment trends pointed to balanced contributions with room for mix-led margin gains.

Current Quarter Outlook

Core Refrigeration and Laundry

Refrigerators/Freezers and Home Laundry Care are the company’s cornerstone categories and remain the primary revenue engines. With replacement cycles continuing and channel inventory broadly normalized, volume stability combined with selective premium mix should support revenue in the mid-single digit growth range. Cost tailwinds from stable raw materials and manufacturing efficiency improvements offer a buffer to gross margin, allowing pricing to hold even as competitive promotional activity fluctuates. The company’s emphasis on high-efficiency and smart-connected models, coupled with brand strength in domestic and overseas markets, provides a pathway to defend share while lifting average selling prices where innovation is most valued.

Air Solutions Momentum

Air Solutions stands out as the most promising growth contributor this quarter given seasonal demand and ongoing adoption of energy-efficient models. Penetration gains in high-efficiency inverter units and smart climate systems enhance pricing power and raise the revenue mix toward higher-margin SKUs. Channel partners indicate healthy sell-through in key regions during peak cooling months, supporting a year-over-year uptick that should exceed the group average. If input costs stay benign and logistics remain fluid, operating leverage in this segment could drive incremental margin expansion, positioning Air Solutions as a meaningful contributor to group profitability.

Stock Price Sensitivities This Quarter

Share performance this quarter is likely to be most sensitive to indications of margin trajectory versus last year and commentary on price discipline across core categories. Any confirmation that the gross profit margin can hold near the mid-twenties while net profit margin stays around the low-to-mid single digits would underpin confidence in earnings durability. Investors will also track the cadence of premiumization—especially mix toward high-end refrigeration, laundry, and energy-efficient air products—as a leading indicator for both revenue quality and EPS. Finally, signals on overseas performance and currency translation impacts may influence sentiment, as they feed directly into top-line growth expectations and consolidated profitability.

Analyst Opinions

Across recent institutional commentary, the balance of views skews positive, emphasizing earnings normalization and solid execution in core categories. The majority bullish stance highlights that adjusted EPS is forecast at 0.65 for the current quarter with year-over-year change of -8.45%, yet an improvement from the prior quarter’s 0.50, reinforcing a sequential recovery narrative. Analysts point to stability in gross margin around the mid-twenties and the sharp sequential rebound in net profit last quarter as evidence that cost controls and portfolio mix are trending in the right direction. They also note the outsized potential in Air Solutions, where seasonal demand and growth in high-efficiency products are expected to support revenue growth surpassing the group average. On balance, institutions anticipate that HAIER SMARTHOME’s disciplined pricing and controlled promotions can sustain profitability into the peak season, with upside if premium mix and international sell-through exceed internal plans.