Zhi Tong Cai Jing·2025-10-23 06:13Core Insights - The report from Guotai Junan indicates that in September 2025, the production, domestic sales, and exports of household air conditioners experienced year-on-year declines of 13%, 3%, and 18% respectively, with domestic sales performing better than the previous production forecast of -7% [1][2] - The upcoming Double Eleven shopping festival emphasizes the integration of online and offline channels as a key strategy for future consumption growth, with significant increases in user engagement on platforms like Taobao [1][3] Group 1: Air Conditioning Market Performance - In September 2025, domestic sales of air conditioners showed a decline of only 3%, which is better than the forecasted drop of 7%, while production and exports fell short of expectations by 11% and 13% respectively [2] - Major brands such as Gree, Aux, and Haier outperformed the production forecasts in domestic sales, while export channels are still facing inventory reduction pressures [2] Group 2: Retail Trends and Pricing Strategies - Online sales of air conditioners are being led by brands like Haier, Gree, and Xiaomi, with Gree's online average price dropping by 11% year-on-year, marking a significant price adjustment [3] - The upcoming Double Eleven festival is expected to drive new growth opportunities through instant retail and AI applications, with Taobao's monthly DAU increasing by over 50 million since the launch of its flash purchase feature [3] Group 3: Strategic Collaborations - Haier has signed strategic cooperation agreements with Hikvision and Alibaba to enhance ecosystem construction and AI capabilities [4] - Midea has also formalized a strategic partnership with Huawei to collaborate on enterprise management and ICT infrastructure [4]