Fang Hongbo, Chairman and President of MIDEA GROUP (00300.HK) -1.100 (-1.444%) Short selling $46.78M; Ratio 8.260% (000333.SZ) -0.530 (-0.700%) , responded to investors' inquiries about competition with XIAOMI-W (01810.HK) +0.550 (+1.036%) Short selling $353.66M; Ratio 8.783% at the 2024 Shareholders' Meeting, Chinese news broke. He stated that the company is strategically not afraid of Xiaomi making foray into the home appliance industry, given common sense analysis and judgment. While the home appliance industry has low barriers to entry, it is highly competitive and considered the "Red Sea", the Chairman elaborated. Home appliances are electromechanical products with fixed strategies, and there is limited room for efficiency improvement in the industry, he said. Related NewsCCBI Expects HSI to Fluctuate Between 22,000/ 26,000 in 2H25, Suggests Investors to Accumulate Positions on Dips in 3QTherefore, regardless of the approach, the ultimate winner is determined by a massive war of attrition, which is the same for new players like Xiaomi, and Redmi, as well as existing major players. At this juncture, no high-tech companies have emerged from the home appliance industry, indicating that "anyone entering the home appliance industry now has already lost strategically and cannot go far", he boasted. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-09 12:25.) (A Shares quote is delayed for at least 15 mins.)