格力还没到“坐不住”的时候

Core Viewpoint - The air conditioning industry is facing challenges due to product homogenization and increased competition, particularly from Xiaomi, which is impacting Gree's market position and growth potential [4][10][20]. Group 1: Market Position and Competition - Gree's market share in online air conditioning sales is 23.44%, ranking second behind Midea's 24.06%, but it has shown a strong performance in August 2025 with a market share of 24.4%, surpassing Midea [5][13]. - Xiaomi has introduced a "10-year free repair" service, prompting Gree to respond by highlighting its own similar service and emphasizing its product quality [5][10]. - The competition between Gree and Xiaomi has escalated, with both companies engaging in public disputes over sales data and product quality, reflecting a broader struggle between traditional manufacturing and internet-driven business models [10][11][20]. Group 2: Financial Performance - Gree's air conditioning segment reported revenue of 762.8 billion yuan in the first half of 2025, a decline of 5.1% year-on-year, indicating pressure on its core business [13][14]. - In contrast, Midea and Haier reported significant revenue growth of 15.7% and 10.2%, respectively, highlighting Gree's underperformance relative to its competitors [13][14]. - Gree's overall revenue for the first half of 2025 was 973.25 billion yuan, down 2.46%, with a net profit of 144.12 billion yuan, up 1.95% [13][14]. Group 3: Product Innovation and Consumer Perception - Gree is focusing on product differentiation to combat market homogenization, with innovative products like the "wind does not blow people" series seeing a 131% increase in sales [15][16]. - The company is also exploring new retail channels, such as the "Dong Mingzhu Healthy Home" stores, which aim to enhance consumer experience and drive sales [16][17]. - Despite facing pressure from low-cost competitors, Gree maintains a strong brand reputation for quality and reliability, which continues to attract consumer trust [19][20].