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Haier Group Profile

Haier Group Profile

Founded in 1984, the Haier Group is today the world’s leading brand of major household appliances and is now transforming from a traditional manufacturer to an open entrepreneurship platform. In the era of the Internet and post e-commerce, Haier will extend its ecosystem to social networks and community economies while enhancing the user value of Haier products and services and instilling integrity as a core competence throughout the Group. Haier aims to become a global leader in the era of the Internet of Things.

Social value created by transformation

By August 2017, Haier Group’s platform has attracted 4316 organizations with resources and developed 15 innovation and entrepreneurship sites, supporting 118 incubators, 2246 incubation projects, and 1333 venture capital investments totaling 12 billion RMB. More than 200 customer-facing microenterprises, 3800 service and support micro-enterprises, and 1.22 million micro stores attract both capital and labor on the Haier platform. More than 100 micro-enterprises’ annual revenues have exceeded 100 million RMB, and 52 have received VC funding of which 18 received in excess of 100 million RMB. Through measures such as decentralization, disintermediation, and elimination of internal communication barriers, Haier has decreased employment by 45% from its peak but has created more than 1.6 million job opportunities. Haier was the only household appliance company recognized for its contributions to Shuangchuang—mass entrepreneurship and innovation—by the State Council of the Peoples Republic of China in May 2016.

Industry innovation

Haier Group focuses on innovation on five major platforms including a white goods transformation platform, an investment and incubation platform, a financial holdings platform, a real estate industry platform, and a cultural industry platform.

  • White Goods Transformation Platform: The white goods platform focuses on the transformation from traditional electric appliances to networked appliances and ultimately to a networked home appliance hub.
  • Investment & Incubation Platform: The innovation and incubation platform focuses on new products and services like the RRS LeHome express cabinet closing the “last 100 meters” in the Chinese logistics industry and RRS Health rural water stations monitoring and improving water quality online for millions of Chinese households.
  • Financial Holdings Platform: The financial holdings platform focuses on internet-based transactions and industrial finance, the latter mainly in medical care and rehabilitation and in agriculture where financing of production/cultivation and traceability have contributed to the efficiency and safety of the food supply in China.
  • Real Estate Industry Platform: Haier entered the residential real estate market in 2002 and entered a new stage in 2013 with the Haikehui customer database and platform where for the first time Chinese buyers can design their own homes.
  • Cultural Industry Platform: The cultural industry platform is responsible for Haier’s Rendanheyi management model worldwide and protects Haier’s intellectual property. The platform also supports social media and Internet-based games.

Revenue generated by the traditional economy: The Haier Group’s global revenues of 2016, excluding GE Appliances, were 201.6 billion RMB, with year-on-year growth of 6.8%; profit achieved 20.3 billion RMB, with year-on-year growth of 12.8%. Profits increased at 1.8 times the rate of revenue growth. The Haier Group achieved a compound growth rate of 6.1% in income and 30.6% in profit over the past decade.

Trading volume crated by online transaction: Haier Group’s product online platforms, B2B, B2C, social networking online platforms, and Internet-finance platforms generated a 2016 trading volume of 272.7 billion RMB with year-on-year growth of 73%.

Global market share of large appliances (source: Euromonitor):

Haier Group

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Haier Brand Share (%)

4.8

5.3

6.4

7.5

8.6

9.4

10.4

10.5

10.5

10.2

Group Share (%)

4.8

5.3

6.4

7.5

8.6

9.9

11.0

11.2

11.2

13.6

Currently, the Group’s brands include Haier, Casarte, GE Appliances, Aqua, Fisher & Paykel, Leader, RRS, DCS, and Monogram. Each brand has its own market position and provides outstanding user experiences for end users. Beginning in 2017, Haier will further deploy and demonstrate the effectiveness of the Rendanheyi management model and will internationalize Rendanheyi through its unique cultural integration system.

Haier Global