Midea Group(SZ:000333) Sou Hu Cai Jing·2025-09-12 13:50Core Viewpoint - Midea has undergone significant organizational restructuring, focusing on transforming its market system from a support-oriented model to a professional one, emphasizing user operation and traffic acquisition [3][4]. Organizational Changes - The internal document outlines a reorganization of the market system, with the user and market department renamed to the traffic and user operation department, which will take over responsibilities related to marketing activities and user acquisition [3]. - The terminal experience module has been abolished, with responsibilities transferred to regional business units, including standardization and training for stores [3]. - Responsibilities related to offline business promotion have been integrated into the brand and user operation department, aligning with the new traffic and user operation department [4]. Personnel Appointments - Midea aims to ensure a simple and agile organization, with operational managers directly responsible for business outcomes [5]. - The first batch of appointments includes part-time general managers for kitchen and heating products, indicating potential layoffs for existing product managers [6]. - A total of 15 city operation center general managers have been reassigned to oversee air conditioning and kitchen product management [6]. Previous Restructuring Efforts - This marks the third adjustment of the operation center within the year, following earlier announcements in February about the reduction of provincial sales companies from 35 to 29, resulting in approximately 900 job cuts [7][8][9]. - Midea has consolidated its regional operation centers into six core marketing platforms, merging several centers across different cities [10]. Financial Performance - In the first half of the year, Midea reported 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% [10]. - The smart home business generated revenue of 167.20 billion yuan, reflecting a growth of 13.31% [10]. - Despite revenue growth, the gross margin for the smart home business declined to 28.52%, down 0.84 percentage points year-on-year [12]. Market Context - The domestic air conditioning market saw retail sales of 126.3 billion yuan in the first half of the year, a growth of 12.4%, with increased competition leading to price reductions and a shift in consumer purchasing behavior [11].