Sou Hu Cai Jing·2025-12-17 23:13Core Viewpoint - The home appliance industry is witnessing a rare trend of collaboration among major air conditioning companies to promote a self-regulatory convention regarding the use of aluminum in air conditioning systems, while Gree, a leading player, has not joined this initiative [2][4][14]. Industry Collaboration - Major brands such as Midea, Haier, and others have announced a self-regulatory convention to prohibit malicious attacks and promote the characteristics of aluminum heat exchanger air conditioners [2]. - Gree, traditionally a leader in the industry, has publicly stated it does not have plans to adopt aluminum in place of copper, citing concerns over aluminum's technical capabilities [2][11]. Market Reactions - Gree's stock price has risen despite the industry's shift towards aluminum, while the stocks of companies that joined the convention have shown volatility, indicating challenges in the widespread adoption of aluminum [5]. - The rising copper prices have led to increased costs for air conditioning manufacturers, prompting discussions about the potential benefits of switching to aluminum [6][10]. Cost Analysis - The cost of copper is significantly higher than aluminum, with copper prices reaching approximately 93,500 yuan per ton compared to aluminum at around 21,862.5 yuan per ton [7]. - The use of copper in air conditioning units accounts for about 26% to 33% of the total cost, with high-end models using up to 40% [9]. - If aluminum were to replace copper, Midea could save approximately 23.2 billion yuan, Gree 17.3 billion yuan, and Haier 12.4 billion yuan in costs [10]. Technical Considerations - Gree has expressed concerns about aluminum's durability and reliability, stating that aluminum components may have a shorter lifespan compared to copper, which could conflict with their commitment to a ten-year warranty [11][12]. - The industry consensus suggests that while aluminum can be used in non-pressurized components, it is not suitable for critical parts of the cooling system due to issues like corrosion and welding difficulties [11][12]. Consumer Perception - A significant portion of consumers (68%) prioritize whether an air conditioner is made of copper when making purchasing decisions, indicating that Gree's commitment to copper may enhance its brand perception [15]. - The push for aluminum in the industry is partly driven by government strategies to promote resource efficiency, but consumer trust in aluminum's performance remains a concern [14][16].