海外营收增8.3% 各区域全面领跑海尔智家2025经营韧性尽显

作者：龚作仁文章来源：Laborer

2026-03-27 13:37

作者：龚作仁文章来源：Laborer

2026-03-27 13:37

邦小白快读

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海尔智家2025年业绩稳健增长，展示出显著经营韧性和市场领先优势。

财务表现方面，营收首次突破3000亿元，达3023.47亿元，同比增长5.71%；归母净利润195.53亿元，增长4.39%，创历史新高；经营活动现金流净额260.03亿元，为净利润的1.33倍，现金质量扎实。此外，分红比例提升至55%，计划回购股份30-60亿元。

市场份额方面，国内多个品类领先：冰箱份额47.7%连续第一，厨电嵌入式烟机销量第一，抽屉式洗碗机份额第一；家用空调全球销量增长14.8%，商用空调多品类份额第一，热水器份额32.5%行业第一，洗衣机份额47.4%提升2个百分点。同时，布局大厨房和大暖通新生态，抢抓AI和银发经济机遇，发布家务机器人等新品。

海外业绩方面，营收同比增长8.3%，各区域全面领跑：美国高端品牌收入增长7%连续四年TOP1，欧洲收入增长19.9%中企第一，澳新、日本、新兴市场均实现高增长。

数字化创新方面，打造全域统仓TC平台和用户全生命周期体验管理平台，提升客户效率和用户体验，如空调经销商收入增长超130%，库存周转效率提升50%以上；用户订单直配占比57%，24小时时效覆盖1944个区县，送装一体率提升至83%。

海尔智家通过多品牌战略和数字化创新，实现品牌价值提升和消费趋势转化。

品牌营销与渠道建设方面，卡萨帝连续10年高端第一实现双位数增长，Leader统帅以用户洞察驱动产品创新，懒人三筒洗衣机上市销量超30万台，带动品牌收入突破百亿增长30%；海尔品牌线上线下份额双第一，首发L4级智能体套系定义全屋智能高度；全域统仓TC平台缩短交易链路降低库存压力，强化渠道效率。

产品研发与消费趋势方面，布局大厨房和大暖通生态，如洗碗机份额第一，抢抓AI和银发经济机遇，发布家务机器人展示智能融合，推动“智慧照护”新方向；精准覆盖不同圈层用户，多品牌协同构建竞争壁垒，满足智慧康养等新兴需求。

用户行为与定价策略方面，通过直配用户模式提升体验，订单直配占比57%提升履约质量，应对消费偏好变化；同时，高端品牌如卡萨帝在国际市场表现稳健，显示定价竞争力。

海尔智家在2025年提供增长市场和可学习策略，帮助卖家应对风险把握机会。

增长市场与消费需求方面，新兴市场需求强劲：东南亚收入增长13.4%，南亚23.2%，中东非55.8%，展示高潜力；同时，AI和银发经济催生新产业如家务机器人，带来创新商机；国内大暖通生态多品类份额第一，如商用空调逆势两位数增长，反映市场变化。

事件应对与风险提示方面，尽管美国关税政策加码家电产品关税，海尔通过全球化供应链体系缓解影响，海外营收仍增8.3%；面对行业竞争加剧，布局新生态如大厨房，提供正面应对措施。

可学习点与商业模式方面，数字化平台全域统仓TC提升效率，经销商收入增长超130%，库存周转优化50%，可借鉴其物流管理；合作方式包括多品牌协同与生态布局，如卡萨帝高端合作；扶持政策体现在回购与分红计划，支持业务扩展。

机会提示方面，加速布局康养和机器人等新领域，定义未来增长空间。

海尔智家的生产与数字化策略为工厂提供商业启示和机会导向。

产品生产需求方面，冰箱份额47.7%第一，洗衣机47.4%提升，热水器32.5%第一，显示高产量产品优势；新品如懒人三筒洗衣机销量超30万台，AI机器人发布，反映生产需求聚焦创新与效率。

商业机会与新兴领域方面，布局大厨房和大暖通生态，商用空调份额第一实现高增长，抢抓银发经济机遇如智慧康养产业，打开新增长空间；海外供应链扩张如新建美国GE Appliances等项目提供合作机会。

数字化与电商启示方面，推进全域统仓平台优化库存周转天数0.9天，物流成本显著降低；用户直配模式提升履约效率，支持电商发展；生产数据如库存周转提升50%以上，可借鉴数字技术提升效率。

海尔智家展示行业趋势与技术创新，解决客户痛点和提供解决方案。

行业发展趋势方面，全面拥抱AI和数字化变革，布局家务机器人和智慧康养新产业，反映智能化与健康化趋势；全球化供应链扩张如新建12个项目支持海外增长。

新技术与应用方面，发布3大类机器人展示智能融合，打造全域统仓TC平台和用户生命周期管理平台，推动无人家务新方向；AI技术提升运营效率，整体费用率优化0.23pct。

客户痛点与解决方案方面，解决库存压力与物流低效问题：空调经销商通过平台缩短交易链路收入增长超130%，库存周转提升50%以上；用户痛点如配送延迟，通过直配模式订单占比57%，24小时时效覆盖1944区县2小时送装一体率83%，显著提升体验。

海尔智家的平台策略针对商业需求优化运营管理。

商业需求与平台做法方面，打造全域统仓TC客户平台简化交易流程降低库存压力，提升客户生意效率，如空调业务收入增长超130%；用户全生命周期体验管理平台实现订单直配透明可视，订单占比57%提升履约质量。

平台招商与运营管理方面，全球供应链布局新建与投产12个项目，包括美国GE Appliances和埃及冰箱等，支持招商合作；运营上通过数字化重构物流网络降低成本，库存周转天数优化0.9天。

风向规避与风险应对方面，尽管关税政策变化如美国加征家电关税，海尔通过全球化供应链体系缓和冲击，保持海外营收增长8.3%；强化大暖通业务布局规避市场风险。

海尔智家揭示产业新动向和政策应对启示，推动商业模式创新。

产业新动向与新问题方面，布局AI和数字化变革，抢抓银发经济机遇如家务机器人和智慧康养产业，打破产业边界构建大厨房和大暖通生态；新问题包括地缘政治影响如关税政策加码，但海尔供应链体系展示韧性。

政策法规启示方面，尽管关税挑战持续，全球化策略实现优于行业增长，提供法规适应案例；商业模式从传统向平台服务型科技生态企业转型，如全域统仓平台提升效率用户直配模式定义新高度。

研究案例与数据方面，多品牌协同如卡萨帝高端第一Leader统帅收入破百亿增长30%，海外各区域领跑数据如欧洲增长19.9%；库存周转优化0.9天物流成本降低，为产业效率研究提供参考。

声明：快读内容全程由AI生成，请注意甄别信息。如您发现问题，请发送邮件至 run@ebrun.com 。

我是品牌商卖家工厂服务商平台商研究者帮我再读一遍。

Quick Summary

Haier Smart Home demonstrated robust performance in 2025, showcasing significant operational resilience and market leadership.

Financially, revenue surpassed 300 billion yuan for the first time, reaching 302.347 billion yuan, a 5.71% year-on-year increase. Net profit attributable to shareholders hit a record high of 19.553 billion yuan, up 4.39%. Operating cash flow was 26.003 billion yuan, 1.33 times net profit, indicating strong cash quality. The dividend payout ratio increased to 55%, with a planned share buyback of 3-6 billion yuan.

In terms of market share, Haier led in multiple domestic categories: refrigerator share was 47.7%, maintaining the top position; built-in range hoods ranked first in sales, as did drawer-type dishwashers. Global home air conditioner sales grew 14.8%, with leading shares in multiple commercial air conditioner categories. Water heater share was 32.5%, industry-leading, and washing machine share rose 2 percentage points to 47.4%. The company also expanded into new ecosystems like integrated kitchens and HVAC, seizing opportunities in AI and the silver economy, launching products such as home service robots.

Overseas revenue grew 8.3%, with leading performance across regions: premium brand revenue in the U.S. grew 7%, ranking first for four consecutive years; European revenue increased 19.9%, top among Chinese enterprises; Australia-New Zealand, Japan, and emerging markets all achieved high growth.

Digitally, Haier built an integrated TC warehouse platform and a full-lifecycle user experience management platform, enhancing customer efficiency and user experience. For example, air conditioner dealer revenue grew over 130%, inventory turnover efficiency improved by over 50%, direct user delivery accounted for 57% of orders, 24-hour delivery covered 1,944 districts, and integrated delivery-installation rate rose to 83%.

Haier Smart Home enhanced brand value and capitalized on consumer trends through a multi-brand strategy and digital innovation.

In brand marketing and channel development, Casarte maintained its premium leadership for the tenth consecutive year with double-digit growth. Leader drove product innovation through user insights, with its lazy triple-drum washer selling over 300,000 units, pushing brand revenue past 10 billion yuan, up 30%. Haier brand led in both online and offline market share, launching the L4-level smart home suite to define whole-home intelligence. The integrated TC warehouse platform shortened transaction chains, reduced inventory pressure, and strengthened channel efficiency.

In product R&D and consumer trends, Haier expanded into integrated kitchen and HVAC ecosystems, leading in dishwasher share, and seized opportunities in AI and the silver economy by launching home service robots, advancing smart care solutions. It precisely targeted diverse user segments, leveraging multi-brand synergy to build competitive barriers and meet emerging needs like smart wellness.

In user behavior and pricing strategy, the direct-to-user model improved experience, with direct delivery accounting for 57% of orders, enhancing fulfillment quality amid shifting consumer preferences. Premium brands like Casarte showed steady international performance, demonstrating pricing competitiveness.

Haier Smart Home offered growth markets and learnable strategies to help sellers manage risks and seize opportunities.

In growth markets and consumer demand, emerging markets showed strong momentum: Southeast Asia revenue grew 13.4%, South Asia 23.2%, and Middle East-Africa 55.8%, indicating high potential. AI and the silver economy spawned new industries like home service robots, creating innovative business opportunities. Domestically, the HVAC ecosystem led in multiple categories, with commercial air conditioners achieving double-digit growth against the trend, reflecting market shifts.

In risk management, despite U.S. tariff hikes on appliances, Haier mitigated impact through its global supply chain, with overseas revenue still growing 8.3%. Facing intensified competition, it expanded into new ecosystems like integrated kitchens, providing proactive countermeasures.

Learnable aspects and business models included the digital TC warehouse platform boosting efficiency, with dealer revenue growing over 130% and inventory turnover improving 50%, offering logistics management insights. Collaboration opportunities involved multi-brand synergy and ecosystem expansion, such as partnerships with Casarte. Support policies included buybacks and dividends, aiding business expansion.

Opportunities highlighted accelerated entry into new areas like wellness and robotics, defining future growth spaces.

Haier Smart Home's production and digital strategies provided business insights and opportunity guidance for factories.

In product demand, refrigerator share led at 47.7%, washing machine share rose to 47.4%, and water heater share was 32.5%, highlighting high-volume product advantages. New products like the lazy triple-drum washer sold over 300,000 units, and AI robots were launched, reflecting demand for innovation and efficiency.

Business opportunities and emerging areas included expansion into integrated kitchen and HVAC ecosystems, with commercial air conditioners leading in share and achieving high growth. The silver economy, such as smart wellness, opened new growth spaces. Overseas supply chain expansion, like new GE Appliances projects in the U.S., offered partnership opportunities.

Digital and e-commerce insights featured the TC warehouse platform optimizing inventory turnover to 0.9 days, significantly reducing logistics costs. The direct-to-user model improved fulfillment efficiency, supporting e-commerce. Production data, like over 50% inventory turnover improvement, demonstrated how digital tech can boost efficiency.

Haier Smart Home highlighted industry trends and tech innovations, addressing client pain points with solutions.

Industry trends included full adoption of AI and digital transformation, with ventures into home service robots and smart wellness, reflecting智能化 and health trends. Global supply chain expansion, such as 12 new projects, supported overseas growth.

New technologies and applications involved launching three categories of robots showcasing smart integration, building the TC warehouse platform and user lifecycle management platform, and advancing autonomous home care. AI improved operational efficiency, with overall expense ratio optimized by 0.23 percentage points.

Client pain points and solutions addressed inventory pressure and logistics inefficiencies: air conditioner dealers using the platform saw revenue grow over 130% and inventory turnover improve by over 50%. For user issues like delivery delays, the direct delivery model accounted for 57% of orders, with 24-hour service covering 1,944 districts and integrated delivery-installation at 83%, significantly enhancing experience.

Haier Smart Home's platform strategies optimized operations for business needs.

In business needs and platform practices, the TC warehouse platform simplified transactions, reduced inventory pressure, and boosted client efficiency, e.g., air conditioner business revenue grew over 130%. The user lifecycle management platform enabled transparent direct order delivery, with 57% order share improving fulfillment quality.

Platform recruitment and operations involved global supply chain expansion with 12 new projects, including GE Appliances in the U.S. and refrigerators in Egypt, supporting partnership opportunities. Operationally, digital logistics network redesign cut costs, with inventory turnover days optimized by 0.9 days.

Risk mitigation included navigating tariff changes, such as U.S. hikes on appliances, through a global supply chain that sustained 8.3% overseas revenue growth. Strengthening the HVAC ecosystem helped hedge market risks.

Haier Smart Home revealed industry shifts and policy responses, driving business model innovation.

Industry trends and new challenges included embracing AI and digital transformation, capturing silver economy opportunities like home service robots and smart wellness, and breaking industry boundaries with integrated kitchen and HVAC ecosystems. Challenges involved geopolitics, e.g., tariff hikes, but Haier's supply chain showed resilience.

Policy insights highlighted how globalization strategies outperformed industry growth despite tariffs, offering adaptation cases. The business model evolved from traditional to platform-based service tech ecosystems, e.g., the TC warehouse platform boosted efficiency, and the direct user delivery model set new standards.

Case studies and data featured multi-brand synergy, with Casarte leading in premium and Leader revenue exceeding 10 billion yuan, up 30%. Overseas leadership data included 19.9% growth in Europe. Inventory turnover optimized by 0.9 days and logistics cost reductions provided references for industrial efficiency research.

Disclaimer: The "Quick Summary" content is entirely generated by AI. Please exercise discretion when interpreting the information. For issues or corrections, please email run@ebrun.com .

I am a Brand Seller Factory Service Provider Marketplace Seller Researcher Read it again.

3月26日晚间，海尔智家发布了2025年报。财报显示，海尔智家营收首次突破3000亿元，达3023.47亿元，同比增长5.71%；归母净利润195.53亿元，同比增长4.39%，创历史新高；经营活动现金流净额达260.03亿元，为净利润的1.33倍，现金质量扎实。

业绩稳健增长的同时，海尔智家还通过提升分红比例积极回报股东，将分红比例由2024年的48%提升至2025年的55%，未来三年分红比例将提升至60%。此外，海尔智家发布最新回购计划，拟斥资30-60亿元回购股份。

打破边界重塑产业新格局，多品牌国内持续引领

面对国内需求萎缩，行业竞争加剧等挑战，海尔智家一方面打破产业和行业边界，布局了大厨房、大暖通等新生态，构建新能力，为用户打造全场景最佳体验。其中，在大厨房生态中，海尔冰箱市场份额47.7%持续第一，持续扩大引领优势；海尔厨电嵌入式烟机销量第一，抽屉式洗碗机份额第一。在大暖通生态中，海尔家用空调全球销量增长14.8%，行业领跑；海尔商用空调多品类份额第一，实现两位数逆势高增长；海尔热水器市场份额32.5%行业第一。此外，海尔洗衣机市场份额47.4%，在第一的基础上再提升2pct。

另一方面，海尔智家抢抓人工智能、银发经济等新机遇，布局了家务机器人、智慧康养等产业，打开新增长空间。在今年3月上海举行的AWE上，海尔智家发布了3大类机器人，展示智能家电与机器人的深度融合，让“无人家务”与“智慧照护”更进一步。

此外，海尔智家多品牌协同发力，精准覆盖并深度服务不同圈层用户，持续夯实竞争壁垒。其中，卡萨帝连续10年高端第一，2025年又实现双位数增长。Leader统帅以用户洞察驱动产品创新，报告期内懒人三筒洗衣机上市后销量超30万台，带动品牌收入首次突破百亿元，同比增长30%。海尔品牌线上、线下份额双第一，今年AWE行业首发最高L4级智能体套系Seeker，定义全屋智能新高度。

海外营收增8.3%，各区域全面领跑

相较于做出口贸易的企业，全球化程度高的海尔智家受地缘政治等影响更大，尤其是2025年美国等海外市场持续加码家电产品关税，对中国输美白色家电加征高额关税。但海尔智家通过多年前在全球主要市场建立的供应链体系，实现了优于行业的增长。财报显示，2025年海尔智家海外营收同比增长8.3%。

同时，海外各区域实现全面领跑。在美国，在关税与政策环境持续演变的压力下，海尔智家高端品牌收入仍实现同比7%的增长，并连续4年行业TOP1；在欧洲，海尔智家收入增长19.9%，白电整体份额中企第一；在澳新，海尔、斐雪派克双品牌当地大白电第一；在日本，海尔智家收入增长10.3%；在新兴市场，海尔智家东南亚、南亚、中东非收入分别增长13.4%、23.2%、55.8%。

2025年，海尔智家还持续加大全球供应链布局、新兴市场布局，以及海外数字化平台能力建设。其中，在全球供应链布局上，海尔智家全球开工新建与顺利投产12个项目，包括美国GE Appliances大滚筒、埃及冰箱等6个新项目开工建设，泰国空调、胶州商空等6个项目顺利投产。这些战略性投入布局，也将支持海尔智家海外业绩的持续增长。

全面拥抱AI和数字化变革，持续提升企业效率和用户体验

海尔智家业绩的稳健增长，也离不开AI与数字化变革的全球落地。2025年，海尔智家打造了全域统仓TC的客户平台和用户全生命周期体验管理平台，让客户生意更好做、用户体验更好。企业运营效率和用户体验的提升，带动海尔智家整体费用率同比优化0.23pct。

具体来看，在客户赋能方面，海尔智家全域统仓TC平台缩短了交易链路、降低了库存压力。以空调板块为例，其经销商销售终端收入同比增长超130%，库存周转效率提升50%以上。在用户体验方面，产品直达用户，让用户从购买、配送、安装等全流程透明可视。2025年，海尔智家直配用户的订单占比提升至57%，24小时时效覆盖区县达1944个，2小时送装一体率提升至83%，履约时效与服务质量大幅提升。在供应链后端，库存周转天数同比优化0.9天，物流配送网络的数字化重构带动整体物流成本显著优化。

2026年，面对全球市场的激烈竞争与多重不确定性，海尔智家将全面拥抱AI与数字化变革、强化大暖通业务布局、加速布局康养、机器人等新领域，通过持续打造以用户为中心的平台服务型科技生态企业，进一步打开新的增长空间。

注：文/龚作仁，文章来源：Laborer，本文为作者独立观点，不代表亿邦动力立场。

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海尔智家2025年的核心财务业绩如何？

2025年海尔智家营收首次突破3000亿元，达3023.47亿元，同比增长5.71%；归母净利润195.53亿元，同比增长4.39%，创历史新高；经营活动现金流净额为260.03亿元。

海尔智家2025年海外市场表现如何？

2025年海尔智家海外营收同比增长8.3%。各区域全面领跑：美国高端品牌收入增长7%，欧洲增长19.9%，澳新大白电第一，日本增长10.3%，东南亚、南亚、中东非分别增长13.4%、23.2%、55.8%。

海尔智家在AI和数字化方面有哪些布局？

海尔智家打造了全域统仓TC客户平台和用户全生命周期体验管理平台，带动费用率优化0.23个百分点。直配用户订单占比提升至57%，24小时时效覆盖1944个区县，2小时送装一体率达83%。

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京东工业宣布开放工业品价格指数为央国企采购合规筑基

工业品价格指数对外开放将给企业的工业品采购提供真实可信、公开可验证的价格参照系，为工业供应链行业的高质量发展，为以央国企为代表的企业合规采购奠定扎实的基础。

京东平台工业品电商产业互联网

2026-03-27 11:09:54