Core Insights - The air conditioning industry is witnessing the rise of new players leveraging smart ecosystems, posing challenges to traditional leaders like Gree Electric, which has faced declining performance and stock prices [2][3] New Forces Rising - At the Hongmeng Smart Selection 2025 Autumn New Product Launch, health air was highlighted as a key focus area, with MEIPONT air conditioners selling out shortly after their launch [3] - MEIPONT's first batch of products sold over 4,000 units and generated over 10 million yuan in sales on the first day [3] - The MEIPONT air conditioners utilize advanced technologies recommended by Huawei, aiming to create a smart air conditioning experience [3][4] Industry Dynamics - The competition is intensifying with Midea Group signing a strategic cooperation agreement with Huawei to develop integrated smart home solutions [5] - Gree Electric is expanding its offline experience stores while also offering a ten-year free repair service, similar to Xiaomi's recent announcement [5][6] - The market is experiencing a price war, with Xiaomi introducing budget-friendly models, leading to pressure on mid-to-high-end air conditioning sales [5][6] Market Outlook - The emergence of new players is expected to accelerate market competition and drive technological upgrades within the air conditioning industry [6] - Analysts suggest that while Xiaomi focuses on cost-effectiveness, the Hongmeng Smart Selection air conditioners target the mid-to-high-end market, indicating a potential shift in market dynamics over time [6]

Core Insights - The air conditioning industry is experiencing intensified competition driven by new players leveraging smart ecosystems, leading to a shift in market dynamics [1][3][7] Industry Dynamics - Traditional leaders like Gree Electric (000651.SZ) are facing pressure from emerging competitors, with Gree's stock hitting a year-low of 39.3 yuan per share on September 26 [3] - The competition landscape is characterized by price wars, technological advancements, and service enhancements [3][6] Emergence of New Players - The new player MEIPONT, in collaboration with Huawei's HarmonyOS ecosystem, has launched smart air conditioning products that emphasize technology integration and user experience [4][5] - MEIPONT's initial product launch saw sales exceeding 4,000 units and revenue surpassing 10 million yuan on the first day [4] Competitive Strategies - Xiaomi has also made significant strides in the air conditioning market, achieving a 14.73% share in the online segment, a 3.78 percentage point increase year-on-year, ranking third behind Midea and Gree [5] - Midea has signed a strategic partnership with Huawei to develop integrated smart home solutions, while Gree is expanding its offline experience stores [6] Service and Pricing Competition - The competition is not only about technology but also service, with Gree and Xiaomi both offering ten-year free repair services for their air conditioners [6] - Xiaomi's introduction of budget-friendly models has intensified price competition, impacting mid-to-high-end sales, while Gree has opted not to engage in price wars [6] Market Outlook - Analysts suggest that the influx of new players will accelerate market competition and technological upgrades, similar to past trends in the television industry [7] - However, some experts caution that while Xiaomi's air conditioning business has matured over ten years, MEIPONT's entry is still in its early stages and may take time to establish a market presence [7]