Haier Smart Home Co., Ltd. Class H (6690) AI Stock Analysis

• Market Cap: HK$255.29B
• Dividend Yield: 5.2%
• Average Volume (3M): 15.96M
• Price to Earnings (P/E): 10.5
• Beta (1Y): 0.84
• Revenue Growth: 19.14%
• EPS Growth: 14.07%
• Country: HK
• Employees: 122,733
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): 0.62
• Shares Outstanding: 2,853,587,200
• 10 Day Avg. Volume: 13,342,925
• 30 Day Avg. Volume: 15,961,312
• PEG Ratio: 0.96
• Price to Book (P/B): 2.18
• Price to Sales (P/S): 0.85
• P/FCF Ratio: 14.71
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$33.04
• Price Target Upside: 28.06% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: HK$29.00 ▲(12.40% Upside)

The score is driven primarily by solid financial performance (steady growth, improving profitability, strong ROE) and attractive valuation (low P/E and high dividend yield). Technicals are supportive but not strong, with a positive trend offset by slightly negative MACD and only neutral momentum signals.

Positive Factors

Consistent Revenue Growth

Sustained top-line expansion (TTM growth) indicates durable demand for appliances and smart-home solutions. Persistent revenue growth supports scale advantages, predictable cash flows, and provides headroom to invest in R&D and international expansion, strengthening competitive positioning.

Improving Profitability and ROE

Rising ROE and improving net margins (net margin climbed from ~4.2% in 2020 to ~6.6% TTM) show the business is earning better returns on capital. This enhances reinvestment capacity and supports sustainable shareholder returns, reflecting operational efficiency and pricing/leverage of brand strength.

Positive Free Cash Flow Generation

Accelerating free cash flow demonstrates the company converts earnings into spendable cash, enabling capex, R&D and shareholder distributions. While conversion is not perfect, consistent positive FCF underpins financial flexibility and funds strategic initiatives without sole reliance on external financing.

Negative Factors

Gross Margin Compression

A multi-point decline in gross margin is a structural concern because it signals pressure on core product economics—likely from input costs or pricing competition. Persistent compression limits operating leverage, constrains long-term margin expansion, and reduces resilience to cyclical downturns.

Rising Financial Leverage

A notable step-up in leverage materially increases interest and refinancing risk, reducing financial flexibility. Higher debt levels make the company more sensitive to interest-rate cycles and funding disruption, constraining ability to pursue opportunistic investments or weather prolonged demand weakness.

Moderate Cash Conversion and Working Capital Volatility

FCF at ~65% of net income and signs of weaker operating cash coverage point to working-capital or timing volatility. In a capital-intensive, seasonally cycled appliance business, inconsistent cash conversion undermines reliability of internally generated funds for capex, dividends, or deleveraging.

Haier Smart Home Co., Ltd. Class H Business Overview & Revenue Model

Company Description

Haier Smart Home Co., Ltd. engages in the research, development, production, and sale of smart home appliances in Asia, Europe, the United States, Australia, Africa, and internationally. The company operates through three segments: China Smart Home Business, Overseas Home Appliance and Smart Home Business, and Other Business. It provides refrigerators, freezers, washing machines, air conditioners, water heaters, water purification products, dishwashers, gas stoves, kitchen appliances, small home appliances, and smart home scene solutions. The company also offers environmental protection and artificial intelligence technology consulting; software development; technical services and advertising design; IoT technology research and development; computer hardware and software technical services; and smart home appliances, as well as provides asset management and equity investment. In addition, it provides hazardous waste management services; develops, assemblies, and sells plastics and electronic products; develops home appliances, communications, electronic products, and network engineering technologies; and develops and produces precision plastics, sheet metal, molds, and electronic products for home appliances. The company was formerly known as Qingdao Haier Co., Ltd. and changed its name to Haier Smart Home Co., Ltd. in June 2019. Haier Smart Home Co., Ltd. was incorporated in 1984 and is headquartered in Qingdao, China.

How the Company Makes Money

Haier Smart Home Co., Ltd. generates revenue through multiple streams, primarily from the sale of its smart home appliances and electronics. The company capitalizes on its strong brand presence in various international markets, leveraging economies of scale to maintain competitive pricing. Additional revenue is derived from aftermarket services, including warranty, repairs, and smart home solutions. Strategic partnerships with technology firms and integration of IoT capabilities further enhance product offerings, increasing consumer demand. Moreover, Haier invests in research and development to innovate and expand its product line, ensuring a steady flow of income from both existing and new customers.

Haier Smart Home Co., Ltd. Class H Financial Statement Overview

Summary

Fundamentals are solid: steady revenue growth and improving net margin over time, supported by healthy EBIT margin and strong ROE. Offsetting this, gross margin has compressed versus prior years, leverage rose notably in TTM, and cash conversion is only moderate (FCF ~65% of net income), reducing overall quality/financial flexibility.

Income Statement

Top-line growth has been consistently positive across the period, with revenue up ~5.7% in TTM (Trailing-Twelve-Months) and high-single-digit growth in several prior years. Profitability is solid and improving over the long run (net margin rising from ~4.2% in 2020 to ~6.6% in TTM), though gross margin has compressed versus 2021–2023 levels (TTM ~25.1% vs. ~31% previously), which is a key watch-item. Operating profitability remains healthy (TTM EBIT margin ~7.9%), but margins are not expanding meaningfully recently.

Balance Sheet

The balance sheet shows good profitability on equity (return on equity ~18.1% in TTM, trending up from the low-to-mid teens earlier), supporting a strong underlying earnings engine. Leverage, however, has moved higher in the latest period: debt-to-equity increased to ~0.58 in TTM versus ~0.25 in 2024, indicating a more levered posture than the recent annual snapshot. Overall asset and equity growth are supportive, but the step-up in leverage reduces financial flexibility and increases sensitivity to funding conditions.

Cash Flow

Free cash flow generation is positive and accelerated in TTM (Trailing-Twelve-Months) with strong free cash flow growth, which is a clear strength. That said, cash conversion versus reported earnings is only moderate (free cash flow is ~65% of net income in TTM), and operating cash flow coverage is relatively low in the provided data, suggesting working-capital or timing volatility. In short, the company produces cash, but the consistency/quality of conversion is not as strong as the income statement might imply.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	317.04B	285.98B	261.43B	243.51B	227.56B	209.73B
Gross Profit	80.56B	79.49B	81.28B	76.29B	71.07B	62.25B
EBITDA	28.33B	33.07B	28.11B	24.42B	21.46B	19.79B
Net Income	20.96B	18.74B	16.60B	14.71B	13.08B	8.88B
Balance Sheet
Total Assets	291.51B	290.11B	253.38B	235.84B	217.46B	203.46B
Cash, Cash Equivalents and Short-Term Investments	49.35B	56.82B	56.97B	54.66B	48.64B	48.63B
Total Debt	69.53B	27.93B	32.69B	32.35B	26.18B	35.82B
Total Liabilities	164.66B	171.72B	147.47B	141.13B	136.38B	135.35B
Stockholders Equity	119.57B	111.37B	103.51B	93.42B	79.81B	66.82B
Cash Flow
Free Cash Flow	19.94B	16.47B	15.36B	11.95B	15.76B	9.83B
Operating Cash Flow	17.73B	26.54B	25.26B	20.15B	23.13B	17.60B
Investing Cash Flow	-20.94B	-20.07B	-17.09B	-8.92B	-8.07B	-5.26B
Financing Cash Flow	-14.87B	-7.91B	-7.84B	-3.82B	-15.64B	-1.03B

Haier Smart Home Co., Ltd. Class H Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.80
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6690, the sentiment is Negative. The current price of 25.8 is below the 20-day moving average (MA) of 26.08, below the 50-day MA of 26.09, and above the 200-day MA of 24.41, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.08 is Neutral, neither overbought nor oversold. The STOCH value of 38.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6690.

Haier Smart Home Co., Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6690	74 Outperform	HK$255.29B	10.51	17.99%	5.20%	19.14%	14.07%
0921	62 Neutral	$35.34B	8.62	20.78%	5.70%	2.29%	3.18%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
1691	45 Neutral	HK$6.13B	-10.58	-14.41%	―	1.29%	-386.78%

Haier Smart Home Co., Ltd. Class H Corporate Events

Haier Smart Home Releases Q3 2025 Financial Report

Haier Smart Home Co., Ltd. has released its unaudited financial data for the third quarter of 2025, prepared in accordance with China Accounting Standards for Business Enterprises. The report assures stakeholders of the accuracy and completeness of the financial information, which aligns with International Financial Reporting Standards, reflecting the company’s commitment to transparency and reliability.

The most recent analyst rating on (HK:6690) stock is a Buy with a HK$27.00 price target. To see the full list of analyst forecasts on Haier Smart Home Co., Ltd. Class H stock, see the HK:6690 Stock Forecast page.

Haier Smart Home Concludes Successful General Meeting with Full Resolution Approval

Haier Smart Home Co., Ltd. announced the successful conclusion of its First Extraordinary General Meeting of 2025, where all proposed resolutions were passed. The meeting, compliant with relevant laws and stock exchange provisions, saw participation from shareholders holding over 63% of the company’s voting shares, reflecting strong stakeholder engagement and support for the company’s strategic decisions.

The most recent analyst rating on (HK:6690) stock is a Buy with a HK$27.00 price target. To see the full list of analyst forecasts on Haier Smart Home Co., Ltd. Class H stock, see the HK:6690 Stock Forecast page.

Haier Smart Home Announces Interim Dividend for 2025

Haier Smart Home Co., Ltd. announced an interim cash dividend for the six months ended June 30, 2025, maintaining a total distribution of approximately RMB2,507 million despite changes in share capital due to share repurchase arrangements. The dividend per share has been adjusted slightly to RMB2.692 per 10 shares, with the payment scheduled for November 7, 2025. This move reflects the company’s commitment to shareholder returns and may influence its market positioning by demonstrating financial stability and strategic capital management.

The most recent analyst rating on (HK:6690) stock is a Buy with a HK$27.00 price target. To see the full list of analyst forecasts on Haier Smart Home Co., Ltd. Class H stock, see the HK:6690 Stock Forecast page.

Haier Smart Home Schedules Board Meeting to Review Q3 Results

Haier Smart Home Co., Ltd. has scheduled a board meeting on October 30, 2025, to review and approve the company’s third-quarter results for the nine months ending September 30, 2025. This meeting is significant as it will provide insights into the company’s financial performance and strategic direction, impacting stakeholders and potentially influencing its market positioning.

The most recent analyst rating on (HK:6690) stock is a Buy with a HK$27.00 price target. To see the full list of analyst forecasts on Haier Smart Home Co., Ltd. Class H stock, see the HK:6690 Stock Forecast page.