海尔智家：海尔智家股份有限公司2024年年度报告

Haier Smart Home Co., Ltd.2024 Annual Report Important Notice I.TheBoardofDirectors,theBoardofSupervisors,directors,supervisorsandseniormanagement of Haier Smart Home Co., Ltd. (‘the Company’) hereby assure that the contentset out in the annual report is true, accurate and complete, and free from any false record,misleadingrepresentationormaterialomission,andareindividuallyandcollectivelyresponsible for the content set out therein. II.All Directors of the Company have attended the board meetings. III.Hexin Certified Public Accountants Limited LLP has issued a standard and unqualified auditreport for the Company. IV.Li Huagang (legal representative of the Company), Gong Wei (chief financial officer of theCompany) and Ying Ke (the person in charge of accounting department) hereby certify thatthe financial report set out in the annual report is true, accurate and complete. V.Proposal of profit distribution or proposal of capitalizing capital reserves for the reportingperiod resoluted and adopted by the Board Proposal of profit distribution for the reporting period are examined and reviewed by the Board: todeclare a cash dividend of RMB9.65 per 10 shares (tax inclusive) to all shareholders based on the totalnumberofsharesheldonrecorddateandafterdeductingtherepurchasedsharesfromtherepurchase account upon the execution of distribution proposal, with proposed distribution amountingto RMB8,996,688,692.76 (tax inclusive). The proportion of cash distribution is 48.01% of the net profitattributable to shareholder of parent company of the Company for the year. If there is any change inthe total share capital of the Company during the period from the date of this report to the recorddateoftheequitydistribution,thetotaldistributionamountwillberemainedunchangedwithcorresponding adjustment to the proportion of distribution per share. VI.Disclaimer in respect of forward-looking statements √Applicable□Not Applicable Forward-looking statements such as future plans, development strategies as set out in this report donotconstitutetheCompany’ssubstantialcommitmenttoinvestors.Investorsareadvisedtopayattention to investment risks. VII.Is there any fund occupation by controlling shareholders and other related parties for non-operational purposes? No VIII.Is there any provision of external guarantee in violation of the prescribed decision-makingprocedures? No IX.AretheremorethanhalfoftheDirectorswhoareunabletoguaranteethetruthfulness,accuracy and completeness of the annual report disclosed by the Company? No X.Important Risk Warnings For the possible risks which the Company may encounter, please refer to the relevant information setout in the section of ‘MANAGEMENT DISCUSSION AND ANALYSIS’ in this report. XI.Others □Applicable√Not Applicable LETTER TO SHAREHOLDERS4SECTION I8SECTION II10SECTION III17SECTION IV72SECTION V109SECTION VI120137149150151SECTION VIISECTION VIIISECTION IXSECTION XDEFINITIONSGENERAL INFORMATION OF THE COMPANY AND KEY FINANCIAL INDICATORSMANAGEMENT DISCUSSION AND ANALYSISCORPORATE GOVERNANCEENVIRONMENTAL AND SOCIAL RESPONSIBILITIESSIGNIFICANT EVENTSCHANGES IN SHARES AND INFORMATION ABOUT SHAREHOLDERSRELEVANT INFORMATION OF PREFERENCE SHARESRELEVANT INFORMATION OF BONDSFINANCIAL REPORT Letter to Shareholders EMBRACING CHANGE, BUILDING MOMENTUM FOR GROWTH In 2024, Haier Smart Home remained committed to “Creating Better Lives for Global Families” and achievednewheightsinrevenueandprofitthroughstrengtheningtechnologicalinnovation,acceleratingdigitaltransformation, and optimizing global strategic footprint while implementing business model transformation tolay down a solid foundation for sustainable growth. KEY PERFORMANCES IN 2024 We delivered record-level revenue and net profit. In2024,HaierSmartHome’sglobalrevenuereachedRMB285.981billion,representingayear-on-yearincrease of 4.29%. Net profit attributable to shareholders grew 12.92% to RMB18.741 billion and operatingprofit was RMB 20.22 billion, up 15.8% year on year1. We generated net cash flow from operating activities totalled RMB26.543 billion, 1.4 times our net profit. We consolidate market leadership in refrigerators, washing machines, and water heaters in China. We havemade considerable progress in premium kitchen appliances, with the Casarte Ultra-realm (致 境) seamlessbuilt-in range hood achieving 400% volume growth in the segment priced above RMB7,000. In2024,westrengtheneduserengagementbyimplementinginitiativesincludingdigitalinventorymanagement and marketing, driving improvements in both user experience and operational efficiency. As aresult, our domestic order response cycle improved by 13%. We actively capitalized on opportunities created by trade-in policy in China, to realized 10% overall revenuegrowth and over 30% Casarte growth in the fourth quarter. In the U.S., despite sluggish demand and intensifying competition, GE Appliances team focused on productleadership, channel partnerships, supply chain upgrades, and new