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Major Chinese and global appliance maker, selling refrigerators, washing machines and air conditioners under Haier and acquired Western brands.
Major Chinese and global appliance maker, selling refrigerators, washing machines and air conditioners under Haier and acquired Western brands.
Sells through multiple brands, each with its own design, factories and local sales force, so GE Appliances in the US, Fisher and Paykel in Australasia and Candy in Europe run largely as local businesses. It has been among the world's largest makers of major appliances by volume. Haier Group, based in Qingdao, is the controlling shareholder.
In one line: China's Whirlpool, owning GE Appliances and Candy.
Moat: narrow (brand, scale, distribution). Global brand portfolio (Haier, GE Appliances, Candy) and manufacturing scale support distribution reach.
Headquarters: Qingdao, China · Founded: 1984 · Employees: 134,995
Size Haier Smart Home (600690.SS) is a China Consumer Discretionary company (Electronics/Appliances) with a market value of $28.0B, the 67th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥21.62 on 6 Nov 2026.
Performance Over six months the shares gained 0.4%, against +23.4% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 5 in its peer set.
Growth Revenue fell 8.5% over the last twelve months (peer median +6.9%); the operating margin is 6.7% (peer median 11.2%).
Valuation It trades at 11.1× forward earnings against a peer median of 24.3× (cheapest of 5).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.7 points above its cost of capital (5.8% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥290B | CN¥302B | CN¥285B | CN¥274B | CN¥244B |
| Revenue growth | — | +6% | +4% | +13% | — |
| Gross profit | CN¥83.8B | CN¥80.0B | CN¥78.9B | CN¥73.6B | CN¥74.6B |
| EBITDA | n/a | CN¥29.0B | CN¥28.3B | CN¥24.8B | CN¥20.4B |
| Net income | CN¥17.2B | CN¥19.6B | CN¥18.7B | CN¥16.6B | CN¥14.7B |
| Free cash flow | CN¥10.3B | CN¥17.8B | CN¥17.0B | CN¥14.8B | CN¥11.9B |
| Capital expenditure | CN¥9.70B | CN¥8.85B | CN¥10.1B | CN¥10.5B | CN¥8.21B |
| Total debt | CN¥77.4B | CN¥66.5B | CN¥60.9B | CN¥56.4B | CN¥55.0B |
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 |
|---|---|---|---|---|---|---|
| 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 |
| 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% |
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 | 600690.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | +13.0% | 2nd lowest of 5 |
| 6-month return | +0.4% | +23.4% | lowest of 5 |
| Distance from 52-week high | -23.6% | -1.4% | lowest of 5 |
| Revenue growth (TTM) | -8.5% | +6.9% | lowest of 5 |
| Operating margin | 6.7% | 11.2% | lowest of 5 |
| Forward P/E | 11.1× | 24.3× | cheapest of 5 |
| Growth the price implies (Req g, 7 yrs) | -5.9% | 17.7% | least demanding of 5 |
| Growth delivered (Del g) | +7.6% | +9.6% | 2nd lowest of 5 |
| Hurdle (Req g minus delivered) | -13.4 pp | +3.4 pp | least demanding of 5 |
| ROIC minus cost of capital | +5.7 pp | +9.7 pp | 2nd lowest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Haier Smart Home 600690.SS | China | $28.0B | 0% | -8% | 7% | 11.1× | -5.9% | +7.6% |
| SharkNinja SN | United States | $31.4B | +100% | +19% | 16% | 30.7× | 21.1% | +18.4% |
| LG Electronics India LGEINDIA.NS | India | $12.6B | +14% | +1% | 9% | 52.1× | 36.6% | +7.3% |
| Midea 0300.HK | Hong Kong | $100B | +23% | +7% | 9% | 13.8× | -1.8% | +9.2% |
| De'Longhi DLG.MI | Italy | $7.65B | +23% | +6% | 13% | 18.0× | 14.2% | +10.1% |