Xin Lang Ke Ji·2025-09-02 00:55Core Viewpoint - The performance of major home appliance companies in the first half of 2025 shows significant differences, with Midea Group leading in both revenue and profit growth, while Gree Electric experienced a decline in revenue [2][3][4]. Revenue and Profit Performance - Midea Group reported 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% [2][6]. - Haier Smart Home achieved revenue of 156.49 billion yuan, growing 10.22%, with a net profit of 12.03 billion yuan, increasing by 15.59% [2][9]. - Gree Electric's revenue was 97.32 billion yuan, down 2.46%, with a net profit of 14.43 billion yuan, up 1.95% [2][11]. Market Trends - The domestic home appliance market (excluding 3C products) reached a retail value of 453.7 billion yuan, growing by 9.2% year-on-year in the first half of 2025 [6]. - The air conditioning sector saw retail sales of 38.45 million units, a 15.6% increase, with a retail scale of 126.3 billion yuan, up 12.4% [6][14]. Business Dynamics - Midea Group's smart home business generated revenue of 167.2 billion yuan, growing 13.31% [15]. - Gree Electric's consumer electronics segment reported revenue of 76.28 billion yuan, down 5.09% [16]. - The air conditioning market is experiencing price competition, with a significant shift towards lower-priced models, impacting mid-to-high-end demand [17]. Strategic Adjustments - Midea Group has made operational adjustments to enhance efficiency and streamline its business model [18]. - Gree Electric is focusing on diversifying its product offerings beyond air conditioning to strengthen its market position [18]. - Haier Smart Home is actively expanding through investments and acquisitions to broaden its business scope [18]. Competitive Landscape - The competitive environment in the home appliance industry is intensifying, with new entrants and existing players adjusting strategies to capture market share [19].