China's air-conditioning market shipments hit record high in 2023, with Hisense and Gree both delivering impressive results

[Secret Home News]Recently, major air-conditioning listed companies have announced their performance forecasts for 2023, and many of them have very impressive performance. Driven by the hot weather in the first half of 2023 and the backlog of demand from the previous year, the air conditioner market has become the most popular category in the field of home appliances. Throughout the year, the air-conditioning industry showed an obvious cyclical growth trend, and the scale of domestic shipments hit a record high.

Throughout 2023, the performance of listed companies in the air conditioning industry has achieved substantial growth. Performance forecasts released by companies such as Gree Electric Appliances, Hisense Home Appliances and Changhong Meiling show that Gree Electric Appliances' annual operating income reached 205 billion to 210 billion yuan, a year-on-year increase of 7.8% to 10.4%; the net profit attributable to the parent company was 27 billion yuan to 29.3 billion yuan, a year-on-year increase of 10.2% to 19.6%. Hisense Home Appliances' full-year net profit attributable to the parent company was 2.75 billion to 2.85 billion yuan, a year-on-year increase of 92% to 99%; Changhong Meiling's full-year net profit attributable to the parent company was 700 million to 770 million yuan, a year-on-year increase 186.25% to 214.88%.

In 2023, the domestic air conditioner sales market showed a cyclical growth trend, with shipments hitting a record high. Starting from February, domestic shipments of air conditioners have achieved rapid year-on-year growth for six consecutive months until the cold season arrives in 2024 and the market enters a cyclical adjustment stage. Specific to each quarter, shipments gradually increased in the first quarter, reached a peak in the second quarter, began to decline in the third quarter, and stabilized in the fourth quarter. Despite the cyclical fluctuations in the market, domestic shipments for the whole year of 2023 still exceeded 90 million units, and the scale of shipments once again set a new record.

Zhaimi believes that there are various reasons behind the remarkable results achieved by the air-conditioning industry. First, the richness of product categories meets the diversified needs of consumers; secondly, brands have increased investment in promotion channels, increasing product visibility and market share; in addition, high temperature weather has a stimulating effect on market demand; finally, The concentrated release of accumulated demand and emergency demand has also contributed to the prosperity of the air conditioning market. The superposition of multiple factors will enable the air conditioning industry to achieve excellent results in 2023.

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