Q1 Results well above Expectations with Revenue up 27% and Operating Cash Flow up 149%
DGAP-News: Haier Smart Home Co.,Ltd.
/ Key word(s): Quarter Results
Q1 Results well above Expectations with Revenue up 27% and Operating Cash Flow up 149% Qingdao / Shanghai / Hong Kong / Frankfurt, 30 April 2021 - Haier Smart Home Co., Ltd. ("Haier Smart Home" or "the Company", stock code: 690D.DE, 600690.SH, 6690.HK) released its Q1 2021 Report in the evening of 29 April. The Company achieved operating revenue of RMB54.8 billion in Q1 2021, an increase of 27% compared to Q1 2020 and 12.9% compared to Q1 2019; among which, China's revenue increased by 29.5% yoy and Overseas revenue increased by 24.6% yoy. Net profit attributable to the owners of the Company amounted to RMB3.05 billion, a significant increase of 185.3% compared to Q1 2020 and 42% compared to Q1 2019; net operating cash flow increased by 149% yoy to RMB2.9 billion. Haier Smart Home not only extended its performance growth trend in the second half of 2020 but also performed better than the same period of 2019. The overall performance was beyond market expectations, which indicates that the market's judgment about the Company entering the performance delivery period has been confirmed. Strategy of cost reduction and efficiency improvement generating results, with the expense ratio further reduced by 1.3 pcts The Q1 report shows that the overall expenses ratio of Haier Smart Home continued the optimization trend in the second half of 2020, with a yoy optimization of 1.3 pcts, of which the sales expense ratio was 14.3%, optimized by 0.7 pct; the management expense ratio was 3.9%, optimized by 0.6 pct. In China Casarte remains the undisputed market leader with revenue increased by 80%, Air conditioning business increased by 128% Meanwhile, the growth of air-conditioning business strides forward. In Q1, Haier Smart Home's air-conditioning business increased by 128%, with its online and offline retail market shares of 15.1% and 17.3% respectively, an increase of 2.1 pcts and 2 pcts yoy. The results above are attributed to the sharp increase in users' demand for healthy air during the pandemic and the Company's continuous iteration of new smart health scenarios products and services. Overseas profit from operating activities increasing by 135% yoy, entering into the channel of high profit growth During the reporting period, the Company also focused on user pain points and actively promoted online digital transformation with a yoy increase of 20% in fans across the network, which enhanced the brand reputation, and high-end products continued to lead the overseas business with revenue growth of over 40% in high-end products and entering the TOP3 in more than 20 countries. In Q1, the Company's overseas revenue increased by 24.6% yoy, of which the revenue from high-end products increased by over 40%. The profit from operating activities increases by 135% yoy; the overseas profit margin from operating activities improved by 2 pcts yoy thanks to the continuous promotion of online transformation and enhancement of terminals transformation. Three Winged Bird smart scenario received an overall harvest and eco brands of all product lines were accelerated The Company focuses on full-process smart home solutions for users and iterates the experience of Three Winged Bird brand in scenarios, 1+N capabilities, digital platforms, and touch-point networks. Three Winged Bird scenario experience store relies on the differentiated competitiveness of complete set of display and sales, pre-sale design, immersive experience during sales, and one-stop after-sales maintenance service to enhance customer acquisition efficiency and value. During the reporting period, daily active users of Haier Smart Home APP increased by 584%, and monthly active users increased by 1,484% yoy. Under the current trend of intensified competition and rising raw material price in the industry, Haier Smart Home's Q1 Report again released positive signals, showing the strong resilience and potential of its performance. In the long run, the results of the continued progress of cost reduction, efficiency improvement and high-end and global layout will continue to be released. Having stepped into the new track of scenario ecology, Haier Smart Home will enter into a new stage and achieve further value increase.
IR Contact:
30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Haier Smart Home Co.,Ltd. |
Haier Industrial Park, Laoshan District | |
266101 Qingdao | |
China | |
Phone: | +49 6172 9454 143 |
Fax: | +49 6172 9454 42143 |
E-mail: | y.sun@haier.de |
Internet: | www.haier.net |
ISIN: | CNE1000031C1, CNE000000CG9 (A-share), |
WKN: | A2JM2W |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1190865 |
End of News | DGAP News Service |
|
1190865 30.04.2021