Haier Smart Home to Build Air Conditioner Factory for 2.49 Billion Yuan

MT Newswires Live08-29

Haier Smart Home (SHA:600690, HKG:6690) plans to invest 2.49 billion yuan air conditioner factory, according to a Tuesday disclosure on the Shanghai Stock Exchange.

The factory will produce 5 million sets of air conditioners every year. They will be sold domestically and in overseas markets, such as Europe, North America, Australia, the Middle East and Southeast Asia, the Chinese household appliance manufacturer said.

The factory will be located in the China-SCO Local Economic and Trade Cooperation Demonstration Zone in Qingdao. The first phase of the construction is expected to be completed in September 2026 and the second phase in December 2027.

Shares of the company fell 2% on the Shanghai bourse in recent trade.

Price (HKD): $23.34, Change: $-0.52, Percent Change: -2.18%

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