Haier Smart Home Q3 Revenue Falls 10.13% as China Demand Weakens

Haier Smart Home reported third-quarter 2026 operating revenue of CNY 69.70 billion on October 29, down 10.13% from a year earlier. Net profit attributable to shareholders fell 12.31% to CNY 4.68 billion. Profit excluding non-recurring items fell 32.17% to CNY 3.52 billion, according to its quarterly report.

For January to September, revenue was CNY 221.82 billion, down 5.23%, and attributable net profit was CNY 15.00 billion, down 13.67%. Operating cash flow for the nine months fell 39.00% to CNY 10.67 billion.

The company named two items that weighed on third-quarter profit. A stronger renminbi produced a net exchange loss of CNY 364 million after hedging, compared with a gain of CNY 134 million a year earlier, a swing of CNY 498 million. Haier also recorded about CNY 500 million of one-off costs from reorganizing its global supply chain and integrating overseas regional platforms. In its results announcement, the company said that without these two items its third-quarter result would have grown year on year.

In China, industry retail sales of household appliances fell 10% in the quarter, which Haier's report attributes to last year's high base, a fading trade-in subsidy effect and weak consumer spending. In North America, industry shipments fell about 4% because of high interest rates and a weak housing market. The figures are group results across all appliance categories and do not give a separate result for cleaning products. The quarter follows a first half in which attributable profit fell 14.27%.