XIAOMI(HK:01810) Sou Hu Cai Jing·2025-10-29 03:47Core Viewpoint - Gree's executive has been actively engaging in social media disputes, particularly targeting Xiaomi, indicating competitive pressure in the air conditioning market [1][3]. Industry Summary - Market Share: Gree's market share is 15.22%, showing a decrease of 1.1% year-on-year, while Xiaomi's market share is 16.71%, with an increase of 2.83% [4]. - Sales Performance: Xiaomi's rapid growth in online sales has positioned it close to Gree, which is concerning for Gree as air conditioning is its main business, unlike Xiaomi where it is a secondary focus [3]. - Product Trends: Xiaomi has introduced a 10-year free warranty on its air conditioning products, enhancing consumer trust and increasing competitive pressure on Gree [4][6]. - Price Trends: The average price of Gree's air conditioners is 3488 yuan, with a year-on-year increase of 10.16%, while Xiaomi's average price is 2513 yuan, with an increase of 11.37% [4]. - E-commerce Impact: The competitive landscape is shifting, with Xiaomi leveraging its advantages in smart home integration and mobile technology to challenge traditional players like Gree and Midea [8]. Company Developments - Manufacturing Expansion: Xiaomi has launched a new smart appliance factory in Wuhan, investing over 2.5 billion yuan, which will significantly enhance its production capabilities and quality control through AI technology [6]. - Competitive Strategy: Xiaomi's self-manufacturing approach reduces reliance on outsourcing, addressing previous criticisms from Gree regarding manufacturing quality [6].