Sou Hu Cai Jing·2025-07-31 16:31Core Viewpoint - The first half of 2025 financial report from Hisense Home Appliances shows disappointing results, with revenue growth at 1.44%, the lowest since 2020, and net profit growth at 3.01%, the lowest in three years, leading to a significant drop in stock price following the report [2][7][14]. Financial Performance - In the first half of 2025, Hisense Home Appliances achieved revenue of 49.34 billion yuan, marking a year-on-year increase of 1.44% [2]. - The net profit attributable to shareholders was 2.077 billion yuan, reflecting a year-on-year growth of 3.01% [2]. - The stock price fell by 5.55% the day after the report was released, and since the new chairman took office, the stock has decreased by 13.53%, resulting in a market value loss of 5.568 billion yuan [2][14]. Leadership Transition - Gao Yuling, the new chairman, took over from Dai Huizhong on November 21, 2024, and this report is her first as chairman [3][9]. - Dai Huizhong, who served for nearly 20 years, was instrumental in optimizing the supply chain and improving operational efficiency during his tenure [4][6]. Background of New Chairman - Gao Yuling, born in the 1980s, has a strong financial background and extensive experience in mergers and acquisitions, having joined Hisense in 2007 [9][10]. - She has held various financial roles within the company, including financial manager and chief accountant, and played a key role in significant acquisitions [10][11]. Market Position and Competition - Hisense Home Appliances has seen steady growth but still lags behind major competitors like Midea and Haier, which reported revenues of 409.08 billion yuan and 285.98 billion yuan respectively in 2024 [18][20]. - The company aims to enhance its competitiveness in the air conditioning market, especially during peak seasons [14]. Future Outlook - The leadership change is part of a broader trend in the home appliance industry towards younger management teams, which is expected to bring vitality and adaptability to the company [21].