The first eight months of this year, China’s home appliance exports soared by 14.7% compared to the same period last year. This growth was primarily driven by the global expansion of Chinese companies and increased external demand, although this demand may weaken in the future.Chinese home appliance manufacturers have reported that revenue from overseas markets has become a crucial source of income in the first half of this year. For instance, Haier Smart Home’s net profit surged by 16.3% to CNY 10.4 billion (USD 1.5 billion), with operating revenue increasing by 3% to CNY 135.6 billion (USD 18.8 billion). Notably, its overseas income grew by 3.7%, accounting for more than half of its total revenue, while domestic market revenue rose by only 2.3%.
Similarly, Xinbao Electrical Appliances, a leading exporter of small home appliances, experienced an 11.2% rise in net profit to CNY 442 million (USD 62.3 million) and a 22% increase in operating revenue to CNY 7.7 billion (USD 1.1 billion). Its income from overseas markets surged by over 70%.
Guangdong Bangze Chuangke, another key player, attributed its core growth to its factory in Vietnam, which has helped secure more external orders. Chairman Xu Ning mentioned that while the home appliance market remains relatively stable, the boost from external demand might weaken due to tariff risks and fluctuations in the Chinese yuan exchange rate.
Shi Yonghong, vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, noted that export growth to Europe and the United States was minimal in the first half of the year. However, exports to major developing markets, especially in regions where Chinese home appliance makers have invested, such as Vietnam, India, and Mexico, continued to grow.
Middleby residential New home
Middleby Residential UK has launched its first showroom bringing six of its brands under one roof in Oundle, Northamptonshire space measures 3,000sqft, spread over two floors, and features 51 products across six brands.
These included AGA, La Cornue and Novy, together with AGA Outdoors, Kamado Joe, and Josper.Middleby Residential, which comprises 21 brands in total, he stated: “We are this great collection, a unique collection, of luxury brands. And from the expanse of our portfolio, we are the largest by far. There’s nothing really comparable to that in high-end residential goods
SMEG dishwasher winners in Australia
Smeg Australia has once again been recognised by Canstar Blue, taking the top spot in the latest dishwasher ratings. Smeg secured a five-star rating in all categories, including overall satisfaction, value for money, performance, features and functionality, design and ease of use.
Electrolux Group appoints new Head of Investor Relations & Sustainability Reporting
Electrolux Group has appointed Ann-Sofi Jönsson as Head of Investor Relations and Sustainability Reporting as from latest February 10, 2025.
Ann-Sofi Jönsson is currently Head of Investor Relations, Group Risk Management and Sustainability at Munters Group AB, and has previously held similar positions within Saab, ABB AG, Accenture AG and Siemens Building Technologies. She will report to Therese Friberg, Chief Financial Officer of Electrolux Group.
EZVIZ launches its flagship RS20 Pro Robot Vacuum and Mop Combo,
EZVIZ launches its flagship RS20 Pro Robot Vacuum and Mop Combo,Pushing the boundary of EZVIZ’s proprietary robotic technology, the RS20 Pro features various innovations: automatic mop installation and detachment, a 3-in-1, self-cleaning roller brush system, auto-lifting side brushes, and dynamic edge mopping. It comes with a multifunctional charging station for automatic dust emptying, mop washing, hot air drying, and clean water refilling. Moreover, the robot doubles as a mobile smart camera by integrating EZVIZ’s market-proven security technology.Ready for messy homes with pets and kids, the robot integrates LDS LiDAR, structured 3D laser and an AI camera to identify over 65 types of common objects, navigating even a multi-storey house smoothly. It vacuums with 7,200 suction power, and mops with dual swirling pads with 10N pressure. Its 3-in-1 roller brush further digs up hidden dirt with a combination of a rubber strip and a bristle brush. After heavy tasks, the RS20 Pro is a breeze to maintain – it self-empties collected wastes into the station, and uses the built-in blade to cut off tangled hair on the brush
Haier Europe: Daniele Pugliese is the new Head of Cooling
Pugliese joins from Whirlpool where he headed up operations in the Czech Republic and Slovakia, before which he spent four years heading up marketing for Whirlpool’s refrigeration category. He replaces Diego Perrone, who was recently appointed Managing Director for the UK
Roborock Qrevo Curv
The New Roborock Qrevo Curv is designed to tackle various cleaning challenges with ease. It features a chassis that can lift 10mm to prevent carpets from blocking the suction ports. Additionally, it can elevate itself by 4cm to navigate over thresholds and obstacles.
This model boasts an impressive suction power of 18,500Pa, ensuring thorough cleaning. It also includes a FlexiArm side brush for reaching into corners and a new anti-tangle brush roll to prevent hair from getting tangled. The self-emptying dock has been completely redesigned with a sleek, modern curved look, making it less obtrusive in your home.
Hisense profit jump
Hisense Home Appliance’s profit rose 34.6% to 2.02 billion yuan in the first half of this year, propelled by the company’s rapid overseas growth
Samsung Workers’ Strike Action At India Plant
Samsung Electronics’ stock dropped more than 3% on Friday as a result of the sixth day of production disruption caused by the ongoing strike by workers at the company’s southern Indian plant.
Since Monday, hundreds of employees have gone on strike to demand that Samsung recognise their union, increase pay, and shorten workweeks the plant, located in the city of Chennai in southern India, makes electronic appliances including televisions, refrigerators, and washing machines.
Midea to raise at least $3.5 billion in Hong Kong
Midea ‘s IPO has started on the Hong Kong stock exchange. The group’s shares were listed only on the Chinese Shenzen stock exchange, where many investors prefer not to buy. The entry into the Hong Kong stock exchange would put Midea on the same level as other large listed groups: Whirlpool or Electrolux as a group investable in electronics and household appliances. Midea is expected to raise at least $3.5 billion with this share issue. It is the largest IPO in Hong Kong since 2022.
Midea is currently valued at 432 billion yuan, 54 billion euros, nearly 12 times Whirlpool and 24 times Electrolux . The stock has grown 15% over the course of 2024.
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