In Q3 2024, Haier Smart Home's third-quarter report demonstrated outstanding results. Despite a high base from the previous year, it achieved a 2.2% increase in revenue to 203 billion yuan and a 15.3% growth in net profit attributable to shareholders. Haier's localized high-end brand-building strategy is paying off in overseas markets. It leads through product innovation and new industry layouts in Europe and America markets. For instance, products like oven range with easy-to-clean baking trays and a new generation of stainless steel inner tank dishwashers are launched in North America. In Europe, the new candy series is introduced in multiple countries. In emerging markets, it grows rapidly by deepening product upgrades and expanding channels. For example, in Southeast Asia, it promotes healthy air conditioning product upgrades, and in South Asia, it strengthens terminal operations. In Malaysia, it even surpasses the local leader to become the industry's number one.
The company's overseas production capacity layout continues to deepen. In May, Haier's ecological park in Egypt opened with a total designed capacity of over one million units. In August, the air conditioning industrial park in Chonburi, Thailand was laid, which will be the largest Chinese brand air conditioning production base in Thailand and Southeast Asia once completed. In September, the second phase of Haier's Egyptian ecological park was laid, mainly producing refrigerators and freezers with an annual capacity of 300,000.
Acquisitions have also expanded Haier's business areas. In July, it acquired Electrolux's South African water heater business, and in October, it completed the acquisition of Carrier Commercial Refrigeration, expanding from home refrigeration to the commercial refrigeration market.
At the September IFA Berlin International Consumer Electronics Show, Haier Europe showcased innovative products and concepts. The Hungarian version of Haier Group's hon application was launched to enhance the smart home experience for Hungarian consumers. The "super-connected" products demonstrated "a new dimension of smart homes", with a virtual avatar at the center of the exhibition area interacting with visitors to highlight the brand's ability to improve users' lives in terms of efficiency, sustainability, product durability, and user experience.
In terms of market share, Haier has made significant gains overseas. In developed countries, the US market share has increased by 0.7%. In Europe, it has been the fastest growing for eight consecutive years with a 9.2% revenue growth. In Australia and New Zealand, it firmly holds the first place in New Zealand's white goods market and has increased its market share in Australia by 2.9%. In emerging markets, South Asia has grown by 9.9%. Pakistan has been the market leader for nine consecutive years, and India has risen to the third place. In Southeast Asia, growth is at 12.4%. Thailand's freezers and air conditioners are consecutively ranked first, and Vietnam's washing machines and Malaysia's air conditioners have jumped to the top. The Middle East and Africa have seen a 26.8% growth, and the Egyptian market has doubled.