15 September 2025 | 4:16PM CST China Consumer Durables Xiaomi's AC push to enhance industry efficiency but may impact profitability; Buy Midea, Xiaomi; Gree to Neutral China AC remains an attractive industry in many respects – a highly consolidated market with leaders enjoying higher margin, balanced supply/demand, and leaders' profit-centric strategies. That said, there has been growing investor debate around Xiaomi's renewed expansion into the industry – and whether it will disrupt the existing order and ...