From the above, it can be seen that Haier’s revenue growth has slow down significantly, while its profits have maintain a high growth due to factors such as cost control. In addition, its profitability and dividend levels are not very good among the three leading companies, weaker than Midea Group and Gree Electric Appliances.
It is necessary to analyze it separately from the domestic and overseas markets
The proportion of Haier’s domestic market in total Looking ahead revenue continu to decline, falling sharply from 87.3% in 2014 to 47.67% in 2023. Overall, domestic market revenue has already enter a period of slow growth. From 2018 to 2023, revenue increas from 105.8 billion yuan to 124.6 billion yuan, with a compound annual growth rate of only 3.3%. This is significantly lower than Midea Group’s 8.2% in the same period.
Of course, with the continu downturn in tunisia phone number list China’s real estate market, the domestic home appliance business will still face considerable challenges and pressure.
In 2021, China’s real estate market reach its historical peak and then enter a rapid downward cycle
In the first 11 months of 2024, the national commercial housing sales area was 860 million square meters, a decrease of 720 million square meters supervised outsourcing: the formula that guarantees quality in technical teams from 1.58 billion square meters in the same period of 2021, a sharp decrease of 45.6%.
This ruction is quite large, and real estate sales have not yet bottom out. There will be a 1-2 year lag effect from the sale of commercial housing to the generation of demand for home appliances.
Real estate began to decline sharply in 2022
An coupl with the downgrade in home appliance consumption, signs albania business directory of weakness in the downstream home appliance Looking ahead sector were clearly reflect in the first half of 2024. According to statistics, the retail volume of China’s white goods market in the first half of the year was 77.74 million units, a year-on-year decrease of 3.6%, and the retail sales were 231.9 billion yuan, a sharp year-on-year decrease of 7%.