Haier Smart Home Appoints Li Huagang as Chairman

Haier Smart Home's board of directors has elected Li Huagang as chairman. The company, previously known as Qingdao Haier Co Ltd, is a China-based manufacturer of home appliances, operating through five segments including household food storage, air solutions, household laundry management, household water solutions, and other businesses. It primarily operates in the domestic and overseas markets.

Haier Smart Home Co., Ltd., formerly known as Qingdao Haier Co Ltd, has elected Li Huagang as the new chairman of the board of directors. The appointment follows a series of strategic moves aimed at strengthening the company's leadership and market position in the home appliance sector [1].

Li Huagang, who previously served as the CEO, brings extensive experience in the industry to the new role. His appointment underscores the company's commitment to maintaining a strong executive team as it navigates the competitive landscape of home appliances and smart home solutions.

Under Li's leadership, Haier Smart Home has expanded its operations and product portfolio, with a focus on innovation and sustainability. The company's five key segments—household food storage and cooking solutions, air solutions, household laundry management, household water solutions, and other businesses—continue to drive growth both domestically and internationally [1].

Financial Performance

The company's financial performance has been robust, with significant revenue growth across its segments. For instance, the Household Food Storage and Cooking Solutions segment, which includes refrigerators and freezers, saw a notable increase in sales from 34.39 billion CNY in 2020 to 83.56 billion CNY in 2024 [1]. Similarly, the Overseas Home Appliance and Smart Home Business segment has shown consistent growth, reaching 114 billion CNY in 2021 and projected to further expand in the coming years.

Geographically, Haier Smart Home's sales have been strong, particularly in Mainland China and America. Sales in Mainland China reached 142 billion CNY in 2024, while sales in America totaled 79.53 billion CNY in the same period [1].

Market Position

Haier Smart Home's market position is bolstered by its extensive network of subsidiaries and partnerships. The company operates through various subsidiaries, including HAIER ELECTRONICS GROUP CO., LTD., Harvest International Co., and Candy Hoover Group Srl, among others. These subsidiaries contribute to the company's diverse product offerings and global reach [1].

Board of Directors

The new chairman joins a board of directors that includes key industry veterans and experienced executives. The board comprises directors such as Wei Gong, Yu Miao, and Da Chun Chien, who bring a wealth of experience in finance, strategy, and operations [1].

Conclusion

The election of Li Huagang as chairman signals a new era of leadership at Haier Smart Home. Under his guidance, the company is poised to continue its growth trajectory, leveraging its strong market position and innovative product portfolio to meet the evolving needs of consumers worldwide.

References

[1] https://uk.marketscreener.com/quote/stock/HAIER-SMART-HOME-CO-LTD-6496829/company/