UOB Kay Hian released a research report stating that HAIER SMARTHOME (06690) delivered Q3 results in line with expectations. Revenue rose 10% year-on-year to RMB 77.56 billion, while net profit reached RMB 5.34 billion, up 13% YoY. Domestic revenue grew 11%, with the air conditioning segment performing strongly, surging over 30% YoY, driven by product innovation and direct sales transformation strategies. Overseas revenue increased 8%, with a slight improvement in operating margin.

Looking ahead to Q4 2025, the report noted that despite challenges from a high base effect, management expects mid-single-digit revenue growth, with net profit growth likely to outpace revenue expansion. The firm maintained its "Buy" rating and raised the target price from HK$39.1 to HK$39.4.