美的转型“阵痛”：年内二次大调运营架构，有经销商面临出局 | BUG

Core Viewpoint - Midea Group is undergoing significant organizational changes, focusing on integrating its operations in the refrigerator, washing machine, and kitchen sectors, reflecting a shift from wholesale to retail thinking [2][3][4] Group 1: Organizational Changes - Midea has announced an organizational restructuring aimed at consolidating its operations center, particularly in the refrigerator and washing machine sectors, with a focus on retail transformation [2][3] - The restructuring includes the merging of various operational centers, such as the one in Linyi, which has been integrated into the Qingdao center, leading to significant staff reductions and relocations [3] - This is the second major adjustment within the year, following a previous round of layoffs in April, indicating a trend of ongoing operational optimization [2][3] Group 2: Retail Transformation - The shift towards retail is described as the main theme for Midea in the Chinese market over the past two years, with a focus on Direct-to-Consumer (DTC) strategies [4][6] - Midea's management has emphasized the need for simplification and self-revolution to drive growth, as articulated by Chairman Fang Hongbo during the annual management meeting [6][9] - The company is prioritizing DTC and overseas Original Brand Manufacturing (OBM) strategies, which may impact traditional distributors and retailers negatively [4][9] Group 3: Impact on Distributors and Employees - Regional distributors have expressed concerns over reduced support and increased operational costs due to Midea's DTC shift, making it harder for them to compete [4][5] - The restructuring may lead to the elimination of some distributors, as Midea focuses on direct sales channels and core retail operations [5] - Employees within the operational centers face challenges in adapting to the new structure and maintaining professional standards amid the integration of different teams [5][6] Group 4: Financial Performance Concerns - Midea's revenue for 2024 is reported at 407.15 billion yuan, with a year-on-year growth of 9.44%, and a net profit of 38.54 billion yuan, up 14.29% [9] - However, when excluding non-recurring gains, Midea's net profit growth of 8.39% lags behind competitors like Haier and Gree, raising concerns about its core business profitability [9] - The ongoing adjustments and strategic shifts are seen as necessary responses to a slowing home appliance market and increasing competition [9]