格力渠道大洗牌：核心代理商时代将落幕

Core Viewpoint - Gree Electric Appliances is undergoing a significant transformation in its distribution channels, shifting from a model reliant on core agents to a more streamlined and digital approach, which aims to enhance control over retail channels and improve market responsiveness [2][6][8]. Distribution Channel Transformation - Gree has transitioned its online procurement system from the "Shengshi" series to the newly established "Hengxin" series, indicating a move towards a flatter distribution model that reduces reliance on traditional agents [2][3]. - The new "Hengxin" series companies are primarily composed of professional managers associated with Gree, contrasting with the previous model that was heavily tied to core agents [4][7]. - This change is expected to simplify the sales process, reduce costs, and enhance competitiveness by eliminating layers of pricing that previously inflated retail prices [6][8]. Market Response and Sales Strategy - Gree's new retail model is currently in a transitional phase, with both traditional and online procurement systems operating simultaneously [7][11]. - The company aims to expand its product categories beyond air conditioners to include refrigerators, washing machines, and water purifiers, thereby diversifying its revenue streams [8][9]. - Recent reports indicate that the procurement prices for mid-range air conditioners have decreased by approximately 10% year-on-year, reflecting the impact of the new model [7]. Financial Performance and Competitive Landscape - Gree's revenue for the first half of 2025 was reported at 97.325 billion yuan, a decrease of 2.46% year-on-year, while net profit increased by 1.95% [9]. - The company faces increasing competition in the home appliance market, necessitating a shift from its traditional air conditioning business to other product lines to sustain growth [9][10]. - Competitors like Midea and Haier have already made significant strides in digital channel transformation, which Gree is now striving to catch up with [9][10]. Future Trends in Retail - The future of retail for Gree is expected to focus on "factory sales" and experiential retail, emphasizing direct consumer engagement and reducing intermediary costs [11][12]. - Gree is enhancing its offline channels to improve customer experience and integrate online and offline sales processes, aiming for a more cohesive retail strategy [12].