Haier Smart Home Co., Ltd. reported third-quarter 2026 revenue of RMB 69.70 billion and net profit attributable to shareholders of the parent company of RMB 4.68 billion. For the nine months ended 30 September 2026, revenue reached RMB 221.82 billion, with net profit of RMB 15.00 billion. The nine-month gross margin remained broadly stable year-on-year at 27.2%, according to the company's press release.
The stability of the gross margin is significant because it indicates that Haier has managed to offset cost pressures through pricing power and operational efficiencies, even as it invests in restructuring. This matters for investors and competitors alike, as it suggests the company can sustain profitability while pursuing growth initiatives. Management noted that its US supply-chain restructuring is nearly complete and has met its objectives, which should reduce future disruption and allow resources to be redirected toward innovation and market expansion.
In China, Haier's retail value share rose to 20.6% online and 25.0% offline in the first nine months, up 2.9 and 1.7 percentage points year-on-year, respectively. This gain underscores the effectiveness of the company's product upgrades, such as AI-powered thawing technology for refrigeration and a four-drum AI laundry system, which cater to evolving consumer needs. The ability to capture share in a mature market like China signals strong brand loyalty and competitive strength.
Internationally, Haier delivered a mixed but promising performance. In North America, GE Appliances gained core appliance market share, with small appliances growing strongly. In Europe, retail value shares in refrigeration and laundry increased in core markets, supported by product innovation. Revenue in India grew at three times the industry rate, and the company expanded its premium washing-machine range there. Unit sales of solar-powered air conditioners doubled in Pakistan, and premium washing machines were introduced in Vietnam. These developments highlight Haier's localized approach and its ability to adapt to diverse market conditions, which is crucial for diversifying revenue streams and reducing dependence on any single region.
The company's HVAC integration is reducing costs and improving efficiency, with coordinated procurement and in-house manufacturing making its commercial air-conditioning business in China more cost-competitive. In North America, GE Appliances reported strong growth in Air & Water Solutions and introduced a new variable refrigerant flow system for commercial customers. In Europe, Haier is accelerating R&D and market development for air conditioners and heat pumps, including models using R290 refrigerant to meet local demand for improved environmental performance. These moves position Haier to capitalize on the global shift toward energy-efficient and eco-friendly HVAC solutions, a segment with significant growth potential.
Overall, Haier's Q3 results reflect a company that is not only weathering market challenges but also investing in future growth areas. The strategic focus on HVAC and emerging markets, combined with AI-driven efficiencies, could enhance its competitive position over the next two to three years. For stakeholders, the announcement provides reassurance that Haier is actively managing its global operations and innovating to capture new opportunities.
