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Chinese maker of major home appliances such as refrigerators, washing machines and air conditioners, under Hisense/Kelon brands.
Chinese maker of major home appliances such as refrigerators, washing machines and air conditioners, under Hisense/Kelon brands.
Sells to Chinese households through retailers, e-commerce and its own stores, and exports to overseas markets, across refrigerators, air conditioners and washers. Hisense Group, owned by the Qingdao city government, is the controlling shareholder. The Kelon brand dates from Guangdong Kelon, a fridge maker that Hisense took over in 2001.
In one line: A smaller, China-based Whirlpool.
Moat: narrow (brand, scale, distribution). Established Hisense/Kelon brand recognition and distribution scale in China's appliance market.
Headquarters: Qingdao, China · Founded: 1969 · Employees: 37,759
Size Hisense Home Appliances (000921.SZ) is a China Consumer Discretionary company (Electronics/Appliances) with a market value of $4.37B, the 587th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.53 on 6 Nov 2026.
Performance Over six months the shares fell 2.1%, against +9.7% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue fell 11.0% over the last twelve months (peer median +6.6%); the operating margin is 3.4% (peer median 7.9%).
Valuation It trades at 14.2× forward earnings against a peer median of 18.0× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -24 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.5 points above its cost of capital (7.2% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥83.4B | CN¥87.7B | CN¥92.5B | CN¥85.3B | CN¥73.9B |
| Revenue growth | — | -5% | +8% | +15% | — |
| Gross profit | CN¥18.0B | CN¥18.5B | CN¥19.0B | CN¥18.6B | CN¥15.1B |
| EBITDA | n/a | CN¥5.39B | CN¥5.38B | CN¥5.45B | CN¥4.00B |
| Net income | CN¥2.22B | CN¥3.19B | CN¥3.35B | CN¥2.84B | CN¥1.43B |
| Free cash flow | CN¥5.01B | CN¥4.82B | CN¥4.82B | CN¥10.3B | CN¥3.52B |
| Capital expenditure | CN¥1.65B | CN¥2.11B | CN¥1.39B | CN¥985M | CN¥883M |
| Total debt | CN¥18.3B | CN¥18.0B | CN¥22.8B | CN¥21.0B | CN¥16.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hisense Home Appliances 000921.SZ | $4.37B | -2% | -11% | 3% | 14.2× | -11.4% |
| Midea 000333.SZ | $101B | +10% | +2% | 9% | 14.5× | -3.2% |
| Gree Electric Appliances, Inc. of Zhuhai 000651.SZ | $31.2B | -3% | -11% | 16% | 8.6× | -16.4% |
| Haier Smart Home 600690.SS | $28.0B | 0% | -8% | 7% | 11.1× | -5.9% |
| Whirlpool WHR | $2.01B | -32% | -6% | 2% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000921.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.3% | +3.9% | 4th lowest of 21 |
| 6-month return | -2.1% | +9.7% | 7th lowest of 21 |
| Distance from 52-week high | -26.0% | -14.2% | 8th lowest of 21 |
| Revenue growth (TTM) | -11.0% | +6.6% | lowest of 21 |
| Operating margin | 3.4% | 7.9% | 6th lowest of 21 |
| Forward P/E | 14.2× | 18.0× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -11.4% | 2.8% | least demanding of 15 |
| Growth delivered (Del g) | +12.7% | +9.4% | 6th highest of 15 |
| Hurdle (Req g minus delivered) | -24.1 pp | -5.2 pp | 3rd least demanding of 15 |
| ROIC minus cost of capital | +10.5 pp | +3.7 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hisense Home Appliances 000921.SZ | China | $4.37B | -2% | -11% | 3% | 14.2× | -11.4% | +12.7% |
| Shenzhen MTC 002429.SZ | China | $4.30B | -42% | +3% | 7% | 22.1× | n/a | n/a |
| Ecovacs Robotics 603486.SS | China | $4.22B | -25% | +10% | 7% | 14.5× | 16.2% | +21.4% |
| Beijing Roborock Technology 688169.SS | China | $5.29B | +17% | +31% | 8% | 17.3× | 4.6% | +32.8% |
| Hisense Visual Technology 600060.SS | China | $5.31B | +8% | -2% | 5% | 12.8× | -3.4% | +8.0% |
| Seb SK.PA | France | $3.55B | +8% | -1% | 8% | 12.1× | -0.8% | +3.3% |
| Aditya Infotech CPPLUS.NS | India | $5.37B | +68% | +36% | 13% | 69.9× | n/a | n/a |
| Zhejiang Supor 002032.SZ | China | $5.37B | -4% | 0% | 10% | 18.0× | -2.8% | +4.1% |
| Coway 021240.KS | South Korea | $5.56B | +26% | +14% | 18% | 10.8× | n/a | n/a |
| Breville BRG.AX | Australia | $3.33B | +13% | +7% | 11% | 31.1× | 26.4% | +8.8% |
| TCL Electronics 1070.HK | Hong Kong | $6.01B | +3% | +14% | 3% | 12.4× | -2.3% | +17.6% |
| Nikon 7731.T | Japan | $3.17B | -12% | -4% | -2% | 45.4× | n/a | n/a |
| Howden Joinery HWDN.L | United Kingdom | $6.12B | +16% | +4% | 15% | 16.6× | 14.9% | +9.3% |
| Arashi Vision 688775.SS | China | $6.41B | -45% | +74% | -1% | 135.2× | n/a | n/a |
| Joyoung 002242.SZ | China | $2.87B | +131% | -7% | -1% | 159.7× | n/a | n/a |
| Kingclean Electric 603355.SS | China | $2.79B | +4% | -2% | 8% | 35.9× | 4.4% | +9.4% |
| Casio Computer 6952.T | Japan | $2.74B | +24% | +12% | 11% | 15.9× | 0.2% | +4.0% |
| IMAX IMAX | United States | $2.61B | +35% | +15% | 23% | 18.8× | 12.2% | +24.5% |
| Electrolux ELUX-A.ST | Sweden | $2.50B | +11% | -3% | -1% | 18.1× | 1.2% | +2.6% |
| De'Longhi DLG.MI | Italy | $7.65B | +23% | +6% | 13% | 18.0× | 14.2% | +10.1% |
| Cowell e 1415.HK | Hong Kong | $2.38B | -33% | +15% | 7% | 9.8× | -10.3% | +36.2% |