2 1 Shi Ji Jing Ji Bao Dao·2025-05-08 11:20Core Viewpoint - Hisense Group and Midea Group have signed a strategic cooperation agreement to collaborate in areas such as AI applications, advanced global manufacturing, and smart logistics, marking a significant partnership in the Chinese home appliance market [1][2] Group 1: Strategic Cooperation Details - The cooperation will focus on the development of digital and AI application platforms, green factories, industrial internet, and global capacity layout [1][8] - Both companies aim to enhance supply chain efficiency and user satisfaction through collaborative logistics and inventory optimization [6][11] - The partnership reflects a complex competitive relationship in the home appliance sector, where both companies are seeking to leverage each other's strengths while still competing in certain product categories [2][11] Group 2: Leadership and Management - The signing was attended by top executives from both companies, including Hisense's Chairman Jia Shaoqian and Midea's Chairman and CEO Fang Hongbo, indicating strong leadership commitment to the partnership [2][3] - The executives responsible for the signing, including Hisense's Vice President Gao Yuling and Midea's CFO Zhong Zheng, have significant experience in financial management and operational efficiency [3][4] Group 3: Market Context and Implications - The partnership is seen as a response to the saturated home appliance market in China, where both companies face challenges from increasing competition and changing consumer preferences [5][11] - By collaborating, Hisense and Midea aim to reduce operational costs and enhance innovation, moving away from traditional price wars and channel competition [11] - The cooperation is expected to strengthen their global presence and improve their competitive edge against international brands amid rising trade barriers and geopolitical challenges [10][11]