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Haier

Three drivers of growth, Long-term growth

The value our platform creates ultimately comes from one source: the consumer
Li Huagang, chairman of Haier Smart Home

Three drivers of growth

Haier Smart Home passed RMB300 billion of revenue for the first time in 2025 and earned RMB19.55 billion of net profit, and more than half of that revenue is now earned outside China. Its chairman names three drivers of growth: smart home appliances, HVAC, and AI. It runs the company through RenDanHeYi, a model of many small units close to the consumer, and uses the same model for the businesses it buys.

1

Smart home appliances

  1. Consumers as co-creatorsWork with consumers as co-creators, so that more of its products become hits.
  2. A hit-product systemBuild a scalable, repeatable system for developing hit products across product lines and markets in 2026.
  3. Room to grow abroadGrow international share, where it is still below China’s, with India potentially becoming the third-largest market after China and the US.

The Effortless three-drum washing machine sold over 10,000 units within 48 minutes of launch, passed RMB100 million of retail sales in 16 hours, and sold over 300,000 units in 2025.

The Mailang refrigerator series sold over one million units and holds the top place in the RMB8,000-and-above segment.

Casarte, its premium brand, grew revenue by over 15% in laundry care, and Haier held the number one global washing machine share at 14.4%.

Overseas revenue passed China’s in 2025

Overseas revenue grew 8.15% to RMB154.5 billion in 2025, and China’s grew 3.05% to RMB146.0 billion. The gross margin abroad was 24.58%, against 28.81% in China. Each block’s width is its revenue and its height its margin.

10% margin20% margin30% margin40% margin28.8%ChinaRMB146.0bn24.6%OverseasRMB154.6bn

Selected

Overseas

Revenue

RMB154.55bn

Up 8.15%

Gross margin

24.58%

Gross profit

RMB38.0bn

Worked out: revenue times margin.

Haier has grown abroad by buying companies

It bought Sanyo’s Japan and Southeast Asia operations in 2015, then GE Appliances, Fisher & Paykel, Candy, and in 2024 Carrier Commercial Refrigeration and Kwikot.

HaierSmart HomeSanyo’s Japanand SoutheastAsia2015GE Appliances2016Fisher &Paykel2018Candy2019CarrierCommercialRefrigeration2024Kwikot2024

Joined in 2024

Carrier Commercial Refrigeration

Profitable in its first quarter after closing, with double-digit revenue growth in US dollars in its first full year and 16% in Asia-Pacific.

6 of 6 businesses joined by 2024.

What Haier says the integration rests on

  1. 1The RenDanHeYi modelAn incentive mechanism aligning team value-sharing with value creation, which energises acquired organisations and their people.
  2. 2The global platformSynergies in strategy, R&D, and procurement strengthen the acquired business.
  3. 3An open and inclusive cultureAutonomous, flexible management at acquired entities speeds integration.

The Effortless washing machine sold over 300,000 units in 2025

Haier’s three-drum washing machine sold over 10,000 units within 48 minutes of launch and passed RMB100 million in retail sales in 16 hours. Consumers named it and shaped its design.

10 minutes1 hour1 day1 month1 year10,000+ units48 minutesRMB100 million16 hoursA product family6 months300,000+ unitsThe 2025 year
  • 48 minutes. Sold within 48 minutes of launch.
  • 16 hours. Retail sales passed RMB100 million within 16 hours.
  • 6 months. Within six months it grew from a single SKU into a full range for laundry care needs.
  • The 2025 year. Sold over 300,000 units in 2025, the number one single model in the industry.

The Mailang refrigerator’s colours, name, and features were also shaped with consumers, and it has sold over one million units.

Each step along the axis is ten times the last, not an equal amount of time.

  1. Let customers help define the product.

    Haier’s Effortless three-drum washing machine, name included, came from consumers, and it sold over 10,000 units within 48 minutes of launch. We recommend involving the people a product is for in defining it before a plan commits to it, so that launch demand is built in and not hoped for.

  2. Track where the profit is as well as where the revenue is.

    Overseas revenue was RMB154.5 billion, more than half of the total and growing 8.15%, at a gross margin of 24.58%, against 28.81% at home. We recommend a plan that reports growth beside margin for each part of the business, so that a widening footprint is not mistaken for an improving one.

  3. Decide how a purchase will be run before you buy it.

    Haier brought in Carrier Commercial Refrigeration under its RenDanHeYi model, with bottom-up goals, profit-sharing, and separate profit-and-loss accounts for each small unit, and the business turned profitable in its first quarter after closing. We recommend settling, before a deal, how the new team will be led and measured, so that integration is a plan and not a period of drift.

Sources

  1. 1. Haier Smart Home Co., Ltd. (2026). Annual Report 2025. smart-home.haier.com, 26 March 2026. smart-home.haier.com
  2. 2. Haier Smart Home Co., Ltd. (2026). Haier Smart Home reports full-year 2025 results. haier.com, 2 April 2026. haier.com
  3. 3. Haier Smart Home Co., Ltd. (2026). Haier Smart Home reports H1 2026 results. Press release, 27 August 2026. webdisclosure.com

Headwater is not connected with Haier Smart Home Co., Ltd. Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, and Candy are trade marks of their owners. Updated 29 September 2026.

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