Home Corporate Facts

BUSINESS OVERVIEW

Engage in R&D, production, sales of household appliance and channel services business
Top seller of large household appliance globally

Source: Euromonitor, by retail sales volume, in 2019;China Market Monitor Co., Ltd. ("CMM"), by retail sales volume, in 2019.

COMPANY HISTORY

Learn more
  • 1984

    Qingdao Refrigerator General Factory, Haier's predecessor entity, was established.

  • 1989

    Qingdao Refrigerator General Factory was reorganized into Qingdao Refrigerator Co., Ltd.

  • 1993

    The Company changed its name to Qingdao Haier Refrigerator Co., Ltd. and was listed on the Shanghai Stock Exchange(Stock Code:600690).

  • 1996

    In the first half of 1996, a allotment plan of changing 3 rights shares for every 10 shares to 4 rights shares for every 10 shares was implemented,and the allotment price was RMB5.80 per share.

  • 1997

    In 1997, a allotment plan of 3 rights shares for every 10 shares was implemented with a placement price of RMB6.80 per share; Haier Group Company transferred its shareholding in the Company's total share capital of 20.01% to its holding subsidiary Qingdao Haier Washing Machine Co., Ltd. ( Later changed its name to "Haier Electric International Co., Ltd."), which still holds a 35.08% stake in the Company.

  • 1999

    In 1999, a allotment plan of 3 rights shares for every 10 shares was implemented, and the allotment price was RMB11.60 per share.

  • 2000

    In March 2000, Haier Group E-Commerce Co., Ltd. was established as a joint venture; in May, 98.15% equity of Zhangqiu Haier Electrical Engineering Co., Ltd. held by Haier Group Company was transferred.

  • 2001

    The Company changed its name to Qingdao Haier Co., Ltd. after acquiring 99.95% of the air-conditioner business from Haier Group.

  • 2002

    In 2002, the Company and the Group jointly invested to establish Haier Finance Co., Ltd., and the Company held 30% of its equity.

  • 2004

    Haier became the only Chinese brand listed in the World's 100 Influential Brands.

  • 2006

    In 2006,the share reform plan was implemented.

  • 2007

    In May 2007, the implementation of the 2006 Directional Additional Issuance Project was completed: the Renminbi common share of 142,046,347 shares were issued to Haier Group to purchase its 75% equity in Qingdao Haier Air Conditioning Electronics Co., Ltd., 80% equity in Hefei Haier Air Conditioner Co., Ltd., 60% of the shares of Wuhan Haier Electronics Co., Ltd. and 59% of the shares of Guizhou Haier Electronics Co., Ltd. have been implemented.

  • 2008

    Qingdao Haier acquires a 20.1% interest in Haier Electronics.

  • 2009

    In May 2009, the first phase of equity incentive plan was launched; in September, the equity incentive plan was approved. In December, 647,115,110 shares of Haier Electronics were transferred, accounting for 31.93% of its total share capital. After the completion of the transfer, the Company held a total of 51% of Haier Electronics.

  • 2010

    Qingdao Haier started two transitions: (i) from a traditional business model to the Win-Win Model of RenDanHeYi; and (ii) from a traditional manufacturer to a user-centric service provider. Haier Group consolidated the logistics business into one of its subsidiaries. Qingdao Haier acquired a controlling interest in Haier Electronics, a Company listed on the Hong Kong Stock Exchange, and consolidated such controlling interest into Haier Electronics’s finance statement.

  • 2011

    Qingdao Haier became the top selling household appliances company in the world in terms of total global retail volume, achieving a global market share of 8.3%, according to Euromonitor. This was the first time a Chinese household appliance manufacturer achieved such a ranking. The sales of Haier's refrigerators and washing machines also ranked first in the world in terms of total global retail volume, with a global market share of 15.9% and 11.7%, respectively, according to Euromonitor.

  • 2012

    In May 2012, the third phase of the equity incentive plan was launched, and the plan was approved that month. In June, the Company's controlling subsidiaries and related parties of the Company subscribed to the financial company for capital increase in cash according to their respective shareholding ratios. In October, the Company invested in the construction of 5 million sets of fluorine-free frequency conversion, energy-efficient and environmentally friendly air-conditioning projects in Zhengzhou,China through the establishment of Zhengzhou Haier Air Conditioner Co., Ltd. (the specific name is subject to the approved name of the industry and commerce).

  • 2013

    Qingdao Haier's first interconnected factory commences operations.Qingdao Haier and Kohlberg Kravis Roberts & Co. L.P. ("KKR"), a leading global investment firm, announced the signing of a definitive agreement pursuant to which KKR acquired a 10 % stake in Haier, establishing a long-term strategic partnership.

  • 2015

    Qingdao Haier entered into a trust agreement with Haier Group, whereby assets held in Fisher & Paykel Appliances Holdings Limited were entrusted to Haier for operation and management. Qingdao Haier acquired Haier Group's overseas white goods business,including SANYO Electric's Japanese and South East Asian white goods businesses, thereby significantly expanding its global foot print. Qingdao Haier launched COSMOPlat for developing an industrial internet platform on mass customisation and intelligent manufac turing. Haier acquired a minority interest in Mitsubishi Electric. Qingdao Haier acquired overseas white household appliances assets from Haier Group, including 26 operating companies and two holding companies

  • 2016

    Qingdao Haier completed its acquisition of General Electric's appliances business (GEA).

  • 2018

    Qingdao Haier entered into a share purchase agreement to acquire all shares from Haier Group Fisher & Paykel Household Appliances Holding Limited.

  • 2019

    Qingdao Haier Completes the Acquisition of Candy to Strengthen Global Leadership in Smart Home Appliances; Qingdao Haier officially changed its name into “Haier Smart Home”.

COMPANY STRATEGY

KEY FIGURES 2019

  • Country&District Coverage
  • Global R&D centers
  • Global Industrial Park
  • ¥bn
    Operating revenue
  • ¥bn
    Total Assets
  • Total number of staff

Haier Smart Home Co., LTD. (formerly known as "Qingdao Haier"), headquartered in Qingdao, China, is a smart home ecological brand that customizes better life solutions for global users. The Company is mainly engages in the research, development, production and sales of smart home appliances such as refrigerators/freezers, washing machines, air conditioners, water heaters, kitchen appliances, small home appliances and smart home scene solutions. Through a rich portfolio of product, brand and solutions, the Company creates a full scene of intelligent life experience to meet the needs of users to customize a better life. Founded in the 1980s, the Company was listed on Shanghai Stock Exchange (600690) in 1993 and Frankfurt Exchange (690D) in 2018, respectively.

Since its establishment, the Company has been sticking to the operation philosophy of "taking users as the right, taking oneself as the wrong", adhering to the corporate values of "people-oriented, anything is born from nothing ", and constantly adapting to the development of eras through entrepreneurship and innovation. In overseas market, the Company has always adhered to its independent brand creation strategy. Through its continuous cultivation and merger and acquisition, it has successively acquired the white goods business of Sanyo of Japan, the household appliance business of GEA, Fisher & Paykel company in New Zealand, Candy company in Italian, and held 48.41% equity interest of MABE in Mexico. Furthermore, the Company also has built the local market competitiveness of 3-in-1 layout in respect of “R&D, manufacturing and marketing".Through continuously optimizing the resource integration and platform sharing and exerting the advantage of global strategic synergies, the Company achieves the layout and global operation of the seven world-class brands, including Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, AQUA and Candy. In 2019, revenue from overseas operation represented 47% of the total revenue while near 100% of it was generated from self-owned brands. Oversea business covers five continents, namely Asia, Europe, America, Australia and Africa, providing comprehensive home appliance products and home scenario solutions for hundreds of millions of users worldwide.