China’s Small Appliance Makers Face Broad H1 Profit Declines in 2026

China’s small home appliance sector has entered mid‑2026 under clear pressure, with five major listed manufacturers — Supor, Xinbao, Biyi Electric, Aishida and Bear Electric — all reporting year‑on‑year declines in revenue and profit for the first half of the year. The cluster of results, released in mid‑to‑late July, highlights a sector grappling with weak demand, intense price competition and margin compression across core categories.
Supor: Revenue Flat, Profit Under Pressure
Supor posted revenue of 11.41 billion yuan, down 0.59% year‑on‑year. Net profit fell more sharply, dropping 7.70% to 868 million yuan. 
The company continues to face a squeeze between softer domestic demand and rising promotional intensity in cookware, kitchen appliances and small domestic electricals.
Xinbao: Profit Plunge Exceeds 70%
Xinbao’s forecast points to one of the steepest declines among the group. 
Net profit is expected to land between 125–155 million yuan, representing a year‑on‑year fall of more than 70%. 
Export‑oriented categories remain challenged by global inventory digestion and slower overseas replenishment cycles.
Biyi Electric: Swinging to Loss
Biyi Electric expects net profit attributable to the parent to fall between –31.7 million and –35.7 million yuan, marking a loss versus the same period last year. 
The company has been hit by weaker volumes in entry‑level appliances and sustained price pressure in online channels.

Aishida: Significant H1 Loss
Aishida anticipates a net loss of 77.9–111 million yuan for the first half of 2026. 
The business continues to navigate restructuring costs and a slow recovery in its core product lines.
Bear Electric: Revenue and Profit Down
Bear Electric’s performance forecast shows:
Revenue down 6.14% year‑on‑year in Q1 
– Net profit down 38.67% year‑on‑year 

With competitive intensity rising further in Q2 — particularly in lifestyle appliances and novelty categories — Bear’s overall H1 profit scale has declined compared with last year.
Sector View: Competition Tightens as Demand Softens
The synchronised downturn across five brands underscores a broader trend: China’s small appliance market is in a cooling phase, marked by:
– High promotional pressure in e‑commerce channels 
– Slower replacement cycles among younger consumers 
– Fragmented category innovation, making differentiation harder 
– Export headwinds as overseas retailers continue to destock 
Manufacturers are expected to respond with tighter cost control, selective premiumisation, and more disciplined product planning in the second half of the year.

LG posts the strongest home‑appliance quarter in its history

LG posts the strongest home‑appliance quarter in its history
LG Electronics reported Q2 2026 consolidated revenue of 23.83 trillion won (approx. €15 billion) and operating profit of 1.58 trillion won (approx. €1 billion). Year‑on‑year, revenue increased 14.9%, while operating profit surged 147%, driven by a stronger premium mix and improved cost efficiency across the business.
The Home Appliance Solution division delivered the best quarter in its history, surpassing 7 trillion won (approx. €4.5 billion) in revenue for the first time. Operating profit reached 686 billion won (approx. €430 million). Growth came from both premium categories and high‑volume segments, supported by supply‑chain optimisation and tighter cost controls. LG’s subscription‑based service model also contributed to more stable, recurring revenue.Why this matters for the global appliance sector
– Premium appliances continue to be the main driver of margin expansion. 
– LG’s results highlight the impact of aggressive operational efficiency in a high‑cost environment. 
– Subscription models are becoming a structural stabiliser for revenue in home appliances. 

Elica Secures €120M Credit Line

Elica has strengthened its financial position with a new €120 million pooled credit facility, backed by a consortium of major European banks and supported by SACE guarantees. The funding will accelerate the company’s industrial transformation, product innovation, and international expansion across its cooking ventilation portfolio. 

CEO Luca Barboni says the operation boosts financial flexibility and supports Elica’s long‑term growth strategy. The move reinforces the Fabriano manufacturer’s leadership in premium cooking extraction systems and its push into wider global markets.

Hoshizaki Partners with Japan Activation Capital to Fuel Global Expansion

HOSHIZAKI CORPORATIO has secured a strategic partnership with investment firm **Japan Activation Capital (JAC)** to accelerate its global growth and improve profit margins.
While Hoshizaki already dominates Japan’s commercial sector, the partnership aims to position the company as the world’s leading foodservice equipment supplier through its upcoming 2027 mid-term growth strategy.
Key Objectives:
* **Global Expansion:** Scaling market reach across North America, Europe, and Asia.
* **Margin Optimization:** Boosting capital efficiency and operational profitability.
Product Innovation Accelerating R&D for next-generation, energy-efficient cooling technology.

Singer Bangladesh Returns to Profit in Q2 2026

Singer Bangladesh returning to profitability while continuing to invest in Bangladesh’s manufacturing future.
The company recorded Tk 8.4 billion in revenue, a 3.4% year-on-year growth, and achieved a Profit Before Tax of Tk 141 million, reflecting improved operational efficiency and business resilience.
Our commitment to long-term growth remains stronger than ever. Through our global-standard Green Factory in the Bangladesh Special Economic Zone (BSEZ), over 90% local manufacturing, and the commencement of exports, we continue to strengthen Bangladesh’s industrial and export capabilities.
We remain focused on creating sustainable value through innovation, local manufacturing, and an enhanced customer experience.

Unox sees consolidated revenues rise to

Unox commercial oven manufacturer has closed the first half of 2026 with sustained growth across its key economic indicators, showing strength and commitment to its international development path.

In the first six months of the year, the Unox Group recorded consolidated revenues of €169m, (£144m) up by six per cent, compared to the same period in 2025.

Orders reached €185m (£158m), an increase of +17%.

Groupe SEB Reports H1 2026 Recovery

Groupe SEB wants you to know their H1 2026 results are back in the green. Thanks to a new “Rebound plan,” the owner of Tefal, Rowenta, and Moulinex is reporting solid cash flow, simplified operations, and confirmed full-year growth. CEO Stanislas de Gramont expressed confidence in the group’s resilience despite tough global market conditions.

Smeg UK Reports 9.3% Revenue Growth as Cooking & Coffee Strategy Pays Off

Smeg UK has delivered a confident performance for 2025, recording 9.3% year‑on‑year revenue growth and a 20% uplift in profit, according to newly published figures. The business reached £73.7 million in revenue and £1.54 million in profit,

Shifts in the US Appliance Landscape: What the Electrolux-Midea Deal Means for Anderson’s 1,200 Workers

If you’ve been keeping an eye on the major players in the appliance industry, you know that the North American market has been a tough nut to crack lately. High manufacturing costs, shifting consumer demand, and biting import tariffs have forced many legacy brands to rethink how they operate.

Recently, we saw one of the biggest strategic shakeups in years. Electrolux Group, the Swedish appliance giant, announced a massive, long-term strategic partnership in North America with China’s Midea Group.

At the center of this deal is a major transition for Electrolux’s historic refrigerator plant in Anderson, South Carolina—a move that brings a temporary factory shutdown, layoffs for over 1,200 workers, and a complete reimagining of what the facility will produce.

Let’s break down exactly what is happening in Anderson, why Electrolux and Midea are teaming up, and what this means for the future of your laundry room and kitchen appliances.

The Anderson Plant: Out with Fridges, In with Laundry

For 37 years, the Anderson, South Carolina facility has been a cornerstone of local manufacturing, specializing in food preservation (refrigerators). However, under the new joint venture, that is about to change completely.

  • The Timeline: Electrolux phased out refrigerator production at the Anderson plant in July 2026.
  • The Retrofit: The plant is temporarily closing to undergo a massive overhaul. It is being completely repurposed from a food preservation factory into a state-of-the-art fabric care (laundry) factory.
  • The Reopening: Fabric care production is slated to officially kick off in the first half of 2027.

What Happens to the 1,200 Anderson Workers?

A factory shutdown of this scale naturally raises immediate concerns for the local community. The transition affects approximately 1,200 local workers who are facing layoffs during the retooling period.

However, there is a silver lining. Because the facility is being repurposed rather than closed permanently, laid-off workers are being invited back to the revamped plant once it resumes operations. The new joint venture expects to gradually hire up to 1,200 employees across 2027 and 2028 as laundry production ramps up to full capacity.

The Big Picture: Why the Electrolux-Midea Partnership?

This isn’t just a localized factory change; it’s a massive corporate realignment. Electrolux and Midea are forming three distinct joint ventures in North America:

  1. A Sales Joint Venture (50/50 split): Co-developing and selling food preservation products across both companies’ brand portfolios in North America.
  2. Juarez, Mexico Factory JV (Midea owns 65%, Electrolux owns 35%): Operating the existing refrigerator plant in Mexico.
  3. Anderson, South Carolina Factory JV (Electrolux owns 55%, Midea owns 45%): Operating the newly retooled laundry plant.

What’s in it for Electrolux?

Electrolux’s North American division represents roughly a third of its global sales, but it has struggled heavily with high operational costs and underperforming factories. By bringing in Midea—known globally for highly efficient, automated manufacturing processes—Electrolux gets an infusion of operational expertise and shares the financial risk. The partnership is expected to yield massive fixed and variable cost savings.

What’s in it for Midea?

Midea is a global powerhouse (reporting over $63 billion in revenue), but they have lacked a major manufacturing footprint in North America. By buying into these joint ventures, Midea successfully circumvents steep US import tariffs, gains direct access to established local distribution networks, and can leverage Electrolux’s deeply trusted brand name.

What Does This Mean for Appliance Buyers?

If you are shopping for white goods over the next couple of years, you can expect a few key changes to flow from this deal:

  • More Tech-Forward Laundry: With Midea’s heavy investments in digital features and smart home integration, the top-load and front-load laundry units coming out of the South Carolina plant in 2027 and beyond will likely feature advanced smart features and high-efficiency designs.
  • Refreshed Refrigerator Lineups: The sales joint venture means we will see a wider, more feature-rich range of refrigerators hitting the market under both the Electrolux and Frigidaire labels, co-designed with Midea’s latest cooling technologies.
  • A Competitive Market: By streamlining manufacturing, both brands hope to offer highly competitive pricing on mid-to-high-end appliances, meaning better value on the retail floor.

The transition period through 2026 will undoubtedly be a challenging time of adjustment for the workforce in Anderson, but the long-term investment ensures that South Carolina will remain a crucial hub for American-made home appliances for years to come.