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Haier Smart Home (06690.HK) 1Q Net Profit RMB4.652 billion, Down 15.2% YoY
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Haier Smart Home (06690.HK) announced its first-quarter report. Under China Accounting Standards, revenue amounted to RMB73.687 billion, down 6.9% YoY. Net profit attributable to shareholders reached RMB4.652 billion, declining 15.2%, with EPS of RMB0.50.

Profit performance in the first quarter faced temporary pressure, mainly due to severe snowstorms in the North American market, where the industry recorded a decline of about 10%. In addition, a substantial increase in tariff costs weighed on the companys performance in North America. Excluding the impact from the North American market, operating profit for the quarter increased by more than 10%. (de/d)



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