Haier Smart Home: Initiation of Coverage- Is Casarte’s 42% Boom Just the Beginning of a Product Power Play?

Haier Smart Home Co., Ltd. recently released its third-quarter financial results, providing insights into its performance and strategic developments. During the initial three quarters, the company reported sales revenue of RMB 148.9 billion, representing a 7.7% growth. The net profit was RMB 717 million, which marks a 26.2% increase year over year. The third quarter alone recorded a 4.6% top-line growth, which when adjusted for the logistics spinoff effect, implied a like-for-like revenue growth of 9.1%, and 9.5% for the year-to-date.