Haier Smart Home Co Ltd Class A 600690

Morningstar Rating
CN¥20.12 −0.35 (1.71%)
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Company Report

Haier's Margin Expansion on Product Premiumization and Cost Optimization Is On Track

Seasoned home appliance manufacturer Haier Smart Home has been among the top brands globally for the past decade, with a stronghold in refrigerators, laundry appliances, water heaters, and air conditioners. We attribute Haier’s industry-leading position to its effective multibrand strategies, strong product development, and broad distribution across online and offline channels. For domestic products, Haier positions its namesake brand for mass-market consumers while targeting the premium Casarte brand to wealthy households. As Casarte products have outperformed in sales growth versus Haier’s other brands in China, we expect high-end products to improve the company's overall revenue mix over the next few years. Also, we think the Chinese government's ongoing subsidies for home appliance trade-ins should boost Haier's domestic sales.

Price vs Fair Value

600690 is trading at a LOCK|MDR@$>$ premium.
Price
CN¥20.47
Fair Value
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Uncertainty
LOCK|g>Bf
1-Star Price
LOCK|.zM
5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Faster-evolving upgrade and replacement demand trends globally should bode well for Haier’s sales and earnings growth.

Bears

China’s worsening real estate industry will weigh on Haier’s domestic home appliances demand.

News

Trading Information

Previous Close Price
CN¥20.47
Day Range
CN¥20.05–20.55
52-Week Range
CN¥19.25–28.31
Bid/Ask
CN¥20.12 / CN¥20.13
Shares Outstanding
9.30B
Market Cap
CN¥187.55B
Volume/Avg
25M / 39M

Key Statistics

Price/Earnings (Normalized)
11.24
Price/Sales
0.64
Dividend Yield (Trailing)
5.67%
Dividend Yield (Forward)
5.67%
Dividend Payment Schedule
Aug, Nov
Total Yield
5.67%

Company Profile

Haier Smart Home is one of the largest household appliance manufacturers globally, with key products spanning refrigerators, washing machines, kitchen appliances, air conditioners, and water solutions. It has been consistently among the top three in China by retail sales in most home appliance categories. The company has also established a footprint in distribution channel services and commercial refrigeration business. Haier generates around 50% of sales outside China. As of December 2025, Haier Group and its subsidiaries are the largest shareholders of Haier Smart Home with around 29% equity interest in aggregate.
Sector
Consumer Cyclical
Industry
Furnishings, Fixtures & Appliances
Stock Style Box
Large Value
Total Number of Employees
134,995

Competitors

Valuation

Metric
600690
000333
6367
Price/Earnings (Normalized)
11.2415.8920.60
Price/Book Value
1.602.992.01
Price/Sales
0.641.361.20
Price/Cash Flow
6.5313.3510.33
Price/Earnings
600690
000333
6367

Financial Strength

Metric
600690
000333
6367
Quick Ratio
0.690.470.96
Current Ratio
1.131.151.62
Interest Coverage
10.0624.4010.38
Quick Ratio
600690
000333
6367

Profitability

Metric
600690
000333
6367
Return on Assets (Normalized)
5.34%5.50%7.34%
Return on Equity (Normalized)
13.76%15.93%13.48%
Return on Invested Capital (Normalized)
9.69%9.59%10.32%
Return on Assets
600690
000333
6367

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