Deepening digital transformation, Haier Smart Home’s 2023 rates will be further optimized by 0.23pct
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On March 27, Haier Smart Home released its 2023 annual report. On the basis of last year’s high base, Haier Smart Home still achieved high growth: revenue of 261.428 billion yuan, a year-on-year increase of 7.33%; operating profit of 16.921 billion yuan, a year-on-year increase of 15.8%; net profit attributable to the parent company was 16.597 billion yuan, a year-on-year increase of 12.81% . Among them, the three-year profit compound growth rate reached 12.7%, achieving long-term steady growth.
The sustained growth in performance is inseparable from the results brought about by independent brand creation, high-end brand creation, and smart homes. It is also inseparable from deepening digital transformation and achieving continuous fee reduction and efficiency improvement. In fact, digitalization has become an endogenous driving force for the development of Haier Smart Home. The financial report shows that in 2023, it will be optimized by 0.23pct.
So, how does Haier Smart Home continue to optimize its rates? To answer this question, we have to look at what Haier Smart Home does.
Deepen digital transformation and optimize rates by 0.23pct
As a leader in the global home appliance market, Haier Smart Home has sold its products to 200 countries and regions around the world, serving 1 billion+ household users. Facing the wave of digitalization, Haier Smart Home deeply understands the importance of digital transformation.
In 2023, Haier Smart Home will use digital transformation to drive the transformation of the entire enterprise process, with user experience as the center, the reshaping of the entire process value chain as the starting point, and digital intelligence technology as the carrier, realizing the integration of the enterprise’s internal operations and the external industry chain. Efficient linkage of downstream and efficient operation of R&D, manufacturing, marketing and order systems within the enterprise achieve continuous optimization of rates. The financial report shows that Haier Smart Home’s rate will be further optimized by 0.23pct in 2023.
Specifically, in order to enhance market competitiveness, Haier Smart Home has launched a user experience cloud platform, which enables real-time perception of users’ entire journey experience of “purchase, delivery, installation, use, and service” and promotes business through an effective feedback mechanism. Competitiveness has improved, and user complaints have dropped by 24%. Through digital distribution systems, user operation auxiliary analysis systems and other tools, Haier Smart Home has improved the efficiency of dealers in distribution management, purchase, sales and inventory management and store operations, and digital retail sales increased by 22% year-on-year.
In order to enhance R&D competitiveness, Haier Smart Home has built an integrated R&D platform to achieve efficient collaboration in the entire process of planning, development and procurement. The output efficiency of a single model in the domestic market has increased by 19%; in order to enhance manufacturing competitiveness, Haier Smart Home has built The digital production model under integrated production scheduling has realized transparent operation and intelligent scheduling of the manufacturing process, and the per capita efficiency has increased by 16%.
It can be seen that the digitalization of Haier Smart Home is based on improving competitiveness, and deepens changes around the improvement of competitiveness throughout the entire process. It is precisely thanks to such digital transformation that Haier Smart Home continues to reduce fees and improve efficiency. For example, in the 8 financial reports in the past 2 years, Haier Smart Home’s rates have been optimized by 0.7, 0.9, 0.8, 0.5, 0.5, 0.3, 0.3, and 0.23 percentage points respectively. And this trend will continue to be optimized as digitalization continues to advance.
Cash dividends in the past five years have reached 21.747 billion yuan
In the current era of listed companies pursuing high-quality development, Haier Smart Home has conveyed confidence to the market with its stable operations, good fulfillment of social responsibilities and active shareholder feedback strategies.
Dividends are an important way for listed companies to give back to shareholders, and Haier Smart Home has performed well in this regard. Haier Smart Home’s announcement shows that Haier Smart Home plans to increase the dividend ratio from the original 36% to 45% in 2023, and has formulated a shareholder return plan for the next three years (2024-2026). The dividend ratios in 2025 and 2026 are not low. at 50%.
Haier Smart Home is able to implement its dividend policy stably and increase its dividend ratio in the long term, thanks to its solid financial position and sustained and stable profitability.
In terms of financial status, Haier Smart Home’s net operating cash flow will reach 25.262 billion yuan in 2023, a year-on-year increase of 24.71%, showing a good cash flow status.
In terms of sustained and stable profitability, on the one hand, Haier Smart Home has continued to reduce fees and improve efficiency through digital transformation, opening up space for profit growth; on the other hand, it has opened up new sources of growth through independent and high-end brand creation.
Digitalization has been highlighted in the previous article. In terms of independent brand creation and high-end brand creation, Haier Smart Home promotes globalization with localization and serves globalization with globalization, achieving growth that is better than that of the industry. The financial report shows that Haier Smart Home’s overseas revenue in 2023 will be 136.412 billion yuan, a year-on-year increase of 7.62%. Each region has also achieved leadership, such as the United States revenue growth of 4.07%, bucking the trend, and European revenue growth of 23.93%, etc.
In order to achieve sustained growth in overseas markets, Haier Smart Home is also actively deploying its products globally. In 2023, Haier Smart Home first laid the foundation for the Egyptian Ecological Park, and then put into operation a kitchen appliance factory in Pakistan. With the completion of these layouts, Haier Smart Home will release more production capacity, create product solutions that better meet the needs of local users, and further expand overseas market potential.
In the domestic market, Casarte has achieved first place in the high-end market for eight consecutive years through brand innovation, product innovation, and model innovation. The financial report shows that Casarte ranks first in the high-end market in multiple categories: the offline market share of refrigerators above 15,000 yuan is 50%, the offline market share of washing machines above 10,000 yuan is 84%, and the offline market share of air conditioners above 15,000 yuan is 84%. 28%.
In the past year, Casarte released lightyear, nebula, conductor and other series to meet users’ needs for a full-scenario smart home that integrates aesthetics and intelligence. This is no longer simply providing products to users, but a complete set of scenarios and smart homes. From products to scenarios, it has opened up new growth space for Haier Smart Home.
Also leveraging the advantages of scenarios to seize growth opportunities in the smart home market are Haier Smart Home’s various industries. The financial report shows that Haier Smart Home’s refrigerators and washing machines continued to increase in offline market share after ranking first; air conditioners achieved both revenue and profit growth, and operating profit margins increased by 1.4 percentage points.
Since its listing, Haier Smart Home has distributed dividends more than 28 times in total, and the scale of dividends has increased year by year, sending a signal to the market that the company has stable operations and strong profitability. Based on its operating results in 2023, Haier Smart Home plans to distribute a dividend of 8.04 yuan (tax included) for every 10 shares and a cash distribution of 7.471 billion yuan.
From this point of view, the five-year cash dividend amount of Haier Smart Home is as high as 21.747 billion yuan, and the five-year average cash dividend ratio is 33.75% and is rising steadily, showing Haier Smart Home’s long-term protection of the interests of shareholders.
Produced by: Financial Industry Listed Company Research Institute; Data source: Juling Finance
While actively paying dividends, Haier Smart Home has also further enhanced investor confidence through share repurchases. Data shows that from 2021 to 2023, the company’s cumulative repurchase amount reached 5.491 billion yuan, and the number of repurchased shares was approximately 218 million shares, accounting for 2.31% of the total share capital. This also conveyed to the market the company’s confidence in future development prospects. .
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