Xin Lang Cai Jing·2025-08-13 09:35Core Viewpoint - Hisense is facing challenges in its home appliance segment despite revenue and net profit growth, with a need for strategic adjustments to compete effectively in a highly competitive market [1][2][8] Financial Performance - In the first half of 2025, Hisense Home Appliances reported revenue of 49.34 billion yuan, a slight increase of 1.44% year-on-year, and a net profit of 2.077 billion yuan, up 3.01% year-on-year [4][6] - The air conditioning segment remains the largest revenue contributor, generating 23.69 billion yuan, a growth of 4.1% [10][12] - The washing and refrigeration business saw revenue of 15.39 billion yuan, with a year-on-year growth of 4.8% [6] Market Position and Competition - Hisense is positioned in the second tier of the white goods market, facing intense competition from industry leaders like Midea, Haier, and Gree, which dominate nearly 70% of the air conditioning market [8][13] - The company’s growth rates in revenue and net profit are at their lowest in five years, contrasting sharply with the previous year's growth rates of 13.27% and 34.61%, respectively [8][9] Strategic Leadership Changes - The appointment of Gao Yuling as both Chairman and CEO marks a significant leadership change aimed at revitalizing the company’s growth strategy [15][17] - The introduction of experienced executives from Midea into key positions indicates a strategic shift to enhance operational efficiency and market competitiveness [14][15] International Expansion and Diversification - Hisense is focusing on international markets, with overseas revenue reaching 20.45 billion yuan, a growth of 12.34% year-on-year, particularly strong in Europe and the Americas [7][18] - The company is diversifying its product offerings, including a recent acquisition in the automotive supply chain, to explore new growth avenues [18][19] Technological Innovation - Hisense is investing in smart technology, particularly in air conditioning products, to enhance user experience and capture the younger consumer demographic [19] - The integration of AI technology into product development is seen as a critical factor for Hisense to maintain competitiveness in the evolving market landscape [19]