On 1-2 Sept, we met with the management of Midea, Haier, Hisense and Gongniu at the UBS A-Share Conference. Also, on 4 Sept, we hosted a one-day appliance and furniture trip in Shenzhen, as part of the China Consumer & Healthcare Tour, visiting Ziel, Aqara and the Arashi Vision flagship store, as well as holding an expert meeting on 360/ action cameras. Details are inside. Key highlights from the events 1) Likely intensified domestic AC competition: Midea has shifted focus from profitability (a strategy it ...