Xin Lang Cai Jing·2025-11-27 00:47Core Insights - The leadership of Gao Yuling at Hisense Home Appliances has seen a decline in revenue growth and net profit margins, marking the lowest performance in recent years [5][6] - Key executives, including Yin Zhixin, have been promoted or given expanded roles, indicating a strategic shift within the company [3][4] Financial Performance - Revenue growth rates from 2022 to 2025 for the first three quarters are 13.90%, 13.81%, 8.75%, and 1.35%, while the net profit growth rates are 14.10%, 165.99%, 10.99%, and 1.65% [5] - The current performance under Gao Yuling is the worst in nearly four years, attributed to increased competition and price reductions in the domestic appliance market [6] Executive Changes - Gao Yuling was elected as the new chairman on November 21, 2022, following the retirement of the previous chairman [2] - Yin Zhixin has been promoted to President of Hisense Group China while still managing the ice-wash business, which has been a significant revenue source [3][4] Market Challenges - The air conditioning segment, a major revenue contributor, has seen a decline in gross margins, with a year-on-year drop of 1.56% [6][7] - The company faces challenges in online sales channels, lagging behind competitors like Gree and Midea, which could impact future market share [7] Strategic Initiatives - Hisense has initiated a restructuring plan to enhance its air conditioning business, including the establishment of a new air conditioning division [7] - Despite these efforts, the effectiveness of the restructuring has yet to be realized, with market share and pricing under pressure [7][8]