Haier Smart Home Co Ltd Reports Stock Price Fluctuations

Haier Smart Home Co Ltd, a Chinese company engaged in the manufacturing and distribution of appliances, has experienced stock price fluctuations in recent days. The company’s shares declined following the announcement by its subsidiary GE Appliances to relocate manufacturing from China to the U.S.

• GE Appliances plans to invest $490 million in the relocation of washing machine production to the U.S.
• The relocation is expected to have a potential negative impact on Haier Smart Home’s operations and profitability.

In a separate development, Haier Smart Home has made a strategic investment in Shanghai New Time Electric Co Ltd, a company specializing in elevator systems. This investment marks an important milestone in the company’s digital economy development.

• Key details of the investment:
  • Shanghai New Time Electric Co Ltd specializes in elevator systems
  • The investment is expected to enhance Haier’s industrial internet ecosystem