Di Yi Cai Jing·2025-09-01 04:22Core Viewpoint - The recent price war in the air conditioning market has led to a dispute between Gree and Xiaomi, with Midea and Haier benefiting from the situation. Industry experts suggest that diversification and flexibility are key to maintaining growth in the current competitive landscape [2][3]. Company Performance - Gree Electric's revenue for the first half of the year was 97.325 billion yuan, a decrease of 2.46% year-on-year, while net profit was 14.412 billion yuan, an increase of 1.95%. However, the second quarter saw a 10% decline in net profit [3]. - Xiaomi's air conditioning shipments exceeded 5.4 million units in the second quarter, with a year-on-year growth rate of over 60% [6]. Market Dynamics - The domestic household air conditioning market saw an 8.3% year-on-year increase in sales volume in the first half of 2025, driven by policies encouraging replacements and warmer weather [3]. - The online market share for Gree's air conditioners decreased by 1.53 percentage points to 17.08% in May, while Xiaomi's share increased by 2.83 percentage points to 18.02% [4]. Competitive Landscape - Midea's online market share rose by 4.9 percentage points to 22.63% in May, with an average price decrease of 5.96% to 2,844 yuan [5]. - Haier's online air conditioning average price dropped by 12.56% to 2,552 yuan, with a market share increase of 2.84 percentage points to 7.25% in June [5]. Strategic Responses - Gree plans to reduce the supply price of some mid-range air conditioning products by approximately 10% in the new cooling year [8]. - Midea and Haier are enhancing their air conditioning business through price adjustments and the introduction of budget-friendly models [6][7]. Future Outlook - Gree aims to expand its international manufacturing base and enhance its research and development efforts to maintain competitive advantages [8]. - The air conditioning industry is entering a new competitive phase, requiring companies to adopt flexible pricing and multi-brand strategies to adapt to consumer segmentation [8].