Core Viewpoint - The competition from Xiaomi in the home appliance industry is acknowledged, but the company does not fear it strategically, viewing it as an opportunity for learning and growth [3][4][5]. Group 1: Company Strategy and Competition - Midea Group's chairman, Fang Hongbo, expressed that while Xiaomi's entry into the home appliance market is taken seriously tactically, it does not pose a strategic threat [3][4]. - Fang questioned which of the current top three home appliance companies (Midea, Gree, Haier) Xiaomi would displace to achieve its goal of being in the top three by 2025 [4]. - The home appliance industry is characterized by low barriers to entry and intense competition, which has already undergone several rounds of "red ocean" competition [4][5]. Group 2: Industry Insights - Fang believes that the potential for great high-tech companies to emerge from the home appliance industry is minimal, indicating that any new entrants are already at a strategic disadvantage [5]. - The home appliance market is experiencing limited growth potential, and any cost-cutting measures can be replicated by competitors [4][5]. - Midea Group is focusing on transforming its business model and extending the lifecycle of its home appliance business through high-end structural adjustments and international expansion [6]. Group 3: Future Development Areas - Midea Group is optimistic about the future of its medical devices and humanoid robots sectors, with a clear focus on imaging diagnostic equipment in the medical field [8][9]. - The company aims for its ToB (business-to-business) and home appliance businesses to each represent 50% of its revenue in the future, creating a "growth relay" effect [8]. - The global medical imaging market is significant, with major players like GE Healthcare, Philips, and Siemens holding a combined market share of 79% [9].