The company’s third quarter financial reports in recent

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However, Haier Smart Home's profit performance is better compared to revenue. In the first three quarters of 2024, the company's net profit attributable to the parent company was 15.15 billion yuan (in absolute terms, lower than Midea Group's 31.7 billion yuan and Gree Electric's 21.96 billion yuan), a year-on-year increase of 15.44%. Moreover, it has maintained double-digit growth in the past few years.

This is mainly because the company has achieved some results in cost control. In 2017, the company's total expense ratio during the sales period was as high as 25.62%, a record high. By the end of the third quarter of 2024, it had dropped to 22.09%. Of course, compared with its home appliance peers, Haier's cost control is not very good. According to Wind statistics, Midea Group’s latest total expense ratio is 15.66%, and Gree Electric’s is 12.33%.

This also affects the huge disparity in profitability among singapore whatsapp number data the three leading home appliance companies. As of the end of the third quarter of 2024, Haier's net sales profit margin was 7.6%, Midea Group's was 10%, and Gree Electric's was 14.5%.

The net interest rate also reflects the large gap between their respective return on equity (ROE). In 2023, Haier Smart Home's ROE will be 16.85%, which is significantly lower than Gree Electric's 27.2% and Midea Group's 22%. This has been the case for a long time.



In addition, Haier's ROE has weakened against the backdrop of continued rise in net interest rates in recent years. According to DuPont analysis, the company's asset turnover rate and equity multiplier have both shown a downward trend, which can also reflect some changes in operations.

Let’s look at dividends. Since Haier went public in 1993, it has distributed dividends a total of 29 times, with an average dividend rate of 29.9%. However, one bright spot is that the indicators have improved in recent years, and the dividend rate in 2023 is 45%. In contrast, the average dividend rate of Midea Group since its listing is 42% (61.6% in 2023), and the average dividend rate of Gree Electric Appliances since its listing is 47.8% (45.3% in 2023). It can be seen that the latter two companies are more generous in dividends.