The company manufactures home appliances such as refrigerators, freezers, and color TV sets; consumer electric appliances and integrated kitchenware, including cabinets for drinks, air conditioners, washing machines, water heaters, electric kitchenware (exhaust fans, cooking utensils, sterilizing cabinets, baking ovens, steamers, microwave ovens and dishwashers); and small scale electrical household appliances like coffee machines, toasters, blenders/juicers. At the same time, Haier Group is shifting from its role as a traditional manufacturer to becoming an open entrepreneurship platform.
Haier Group consists of two listed subsidiaries: Qingdao Haier Co., Ltd. and Haier Electronics Group Co., Ltd. While Haier Electronics Group is listed on the Main Board of the Stock Exchange of Hong Kong Limited, Qingdao Haier is listed on the Shanghai Stock Exchange.
The company’s global headquarters are located in Qingdao city, Shandong province of China, while its two regional headquarters – in Paris and New York – serve its clients in Europe and America respectively. Haier Group has five R&D centers, 66 trading companies and 21 industrial parks worldwide. In 2016, the Haier Group acquired General Electric’s appliance division for 5.4 billion U.S. dollars.
In terms of the sales revenue, Haier Electronics Group received around 78.8 billion yuan in 2017 with the revenue forecasted to grow almost 48 percent by 2020. The net profit of Haier Group has doubled since 2013, reaching around 6.93 billion yuan in 2017.