XIAOMI(HK:01810) Qian Zhan Wang·2025-08-15 07:12Core Insights - The latest data indicates that in July 2025, the top five air conditioning brands in China will be Midea, Gree, Xiaomi, Haier, and Aux, with Xiaomi achieving a remarkable year-on-year sales growth of 53.9%, making it the only brand among the top three to experience such rapid growth [2][4]. Group 1: Market Performance - Xiaomi ranks third in the Chinese air conditioning market with a sales share of 13.7% as of July 2025 [2]. - The overall market for household air conditioners in China is projected to reach approximately 300 billion yuan in 2024, with China accounting for over 80% of global production [4][6]. Group 2: Company Strategy and Innovation - Xiaomi's rapid growth in the air conditioning sector is attributed to significant improvements in its capabilities, including full-stack self-research and mastery of key technologies [4]. - Over 70% of Xiaomi air conditioner users utilize connected features, showcasing a substantial technological advantage over competitors [4]. Group 3: Industry Trends and Challenges - The air conditioning industry in China is experiencing a downward trend in average retail prices, with a 3.53% year-on-year decline in 2024, leading to increased pressure on the industry [6]. - The competition in the air conditioning market has shifted from product-centric to a comprehensive battle of ecosystems and technologies, highlighting the importance of innovation and user demand insights [8].