HK Stock Market Move | HAIER SMARTHOME (06690) rose more than 3% in the first quarter as profitability came under pressure. The company is increasing shareholder returns.

HAIER SMARTHOME (06690) rose more than 3%, as of the time of press, it rose by 3.07% to HK$21.5, with a turnover of HK$5.44 billion. In terms of news, HAIER SMARTHOME announced last night that in the first quarter of 2026, the company achieved revenue of 73.687 billion yuan, a year-on-year decrease of 6.86%; net profit attributable to shareholders of the listed company was 4.652 billion yuan, a year-on-year decrease of 15.22%, an improvement compared to the fourth quarter of 2025. The company mentioned that the performance of the first quarter was under pressure, mainly due to the extreme weather in North America which led to a 10% industry decline, and the significant increase in tariff costs compared to the previous year, dragging down the company's performance in the North American market. Excluding the impact of the North American market, the company's operating profit in the first quarter increased by over 10%. It is worth noting that HAIER SMARTHOME has launched a rare stock repurchase and cancellation plan: all the remaining 74.54 million shares in the repurchase plan from 2023 to 2025 will be cancelled; at the same time, a large-scale D-share repurchase plan with the purpose of cancellation has been launched, aiming to repurchase up to approximately 81 million shares, and the repurchased shares will all be cancelled. Western believes that the company is at a critical point in organizational transformation, short-term external disturbances do not change the long-term logic, and it is important to seize the opportunity to invest in undervalued high-quality assets.