Midea Group(SZ:000333) Sou Hu Cai Jing·2025-09-12 14:03Core Points - Midea has undergone significant organizational restructuring, shifting its market system from a support-oriented model to a professional one, focusing on traffic acquisition and user operations [1] - The internal document outlines changes in the market system's organizational structure and responsibilities, including the renaming of the regional operations center's user and market department to the traffic and user operations department [1] - The smart small appliances organizational structure has been adjusted to fully online operations, merging the smart small appliances operations center into the domestic marketing of the home appliance division [1] Organizational Changes - The regional operations center's responsibilities have been redefined, with the termination of the terminal experience module, which will now be managed by regional business units [1] - Headquarters' offline business promotion responsibilities have been integrated into the brand and user operations department, aligning with the new traffic and user operations department [1] - The first batch of appointments includes part-time general managers for kitchen and heating products, indicating potential layoffs for existing general managers in these categories [3] Personnel Adjustments - This marks the third adjustment of the operations center within the year, following previous announcements to reduce the number of provincial sales companies from 35 to 29 [4] - The consolidation of regional operations centers into six core marketing platforms has resulted in an estimated reduction of around 900 employees [5] - Recent personnel changes include the promotion of key executives within the company, reflecting ongoing leadership adjustments [6] 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% [6] - The smart home business generated revenue of 167.20 billion yuan, growing by 13.31% year-on-year, despite a decline in gross margin to 28.52% [6] - The domestic air conditioning market saw a retail value of 126.3 billion yuan, with a year-on-year growth of 12.4%, indicating competitive pricing pressures in the industry [6]