Midea Group(SZ:000333) 36氪·2025-03-13 00:01Core Viewpoint - The article discusses the recent trend of major companies in China, such as DJI and Midea, implementing mandatory off-work policies to reduce costs and improve efficiency, reflecting a broader shift in corporate culture away from the "996" work schedule [3][5][20]. Group 1: Company Actions - DJI has initiated a "no overtime" policy, where employees are encouraged to leave the office by 9 PM, and this has been in effect since late February [4][11]. - Midea has also enforced strict controls on overtime, with a directive from its chairman to simplify work processes and limit after-hours meetings and communication [3][12]. - Other companies like Miniso and Haier are following suit, emphasizing the reduction of formalities and the implementation of a two-day weekend policy across all departments [15]. Group 2: Financial Performance - Midea's overseas market growth has outpaced domestic growth, with its overseas revenue accounting for over 40% of total income in the first half of 2024 [13]. - Midea's total revenue for the first half of 2024 was approximately 217.27 billion, a 10.3% increase from the previous year [14]. - The manufacturing sector remains the largest contributor to Midea's revenue, with HVAC products making up 46.7% of total revenue [14]. Group 3: Industry Context - The shift away from the "996" work culture is becoming more pronounced as companies face economic pressures and seek to enhance operational efficiency [5][20]. - The article highlights that the trend of reducing working hours and simplifying processes is not limited to China, as similar movements are observed in other countries, particularly in Europe and Japan, where labor regulations are becoming stricter [18][19].