Xin Lang Cai Jing·2025-09-02 00:53Core Insights - The article discusses the performance of major home appliance companies in China, specifically Midea Group, Haier Smart Home, and Gree Electric, based on their half-year reports for 2025, highlighting their revenue and profit growth rates [2][5][7]. Group 1: Company Performance - Midea Group leads in both revenue and profit growth, achieving a revenue of 251.12 billion yuan, a year-on-year increase of 15.58%, and a net profit of 26.01 billion yuan, up 25.04% [5][7]. - Haier Smart Home reported a revenue of 156.49 billion yuan, a 10.22% increase, and a net profit of 12.03 billion yuan, growing by 15.59% [7][9]. - Gree Electric experienced a revenue decline of 2.46%, totaling 97.32 billion yuan, while its net profit grew by 1.95% to 14.43 billion yuan [9][11]. Group 2: Market Trends - The domestic home appliance market (excluding 3C products) saw a retail sales increase of 9.2% in the first half of 2025, reaching 453.7 billion yuan [5]. - The air conditioning sector experienced a retail volume growth of 15.6%, with sales reaching 38.45 million units, and a retail scale of 126.3 billion yuan, up 12.4% [5][15]. - The washing machine market grew by 11.5%, while the refrigerator market saw a 3.5% increase in retail sales [5]. Group 3: Competitive Landscape - Midea Group is positioned to "compete against two" with its revenue nearly matching the combined total of Haier and Gree [5][7]. - Gree Electric's core air conditioning business, which traditionally contributed over 70% of its revenue, is facing challenges with a 5.09% decline in the consumer electronics segment [12][14]. - The competitive landscape is intensifying, with companies like Xiaomi gaining market share, prompting major players to adjust their strategies [16][17].