At the 2025 annual general meeting, Midea Group Co.,Ltd. Chairman Fang Hongbo addressed investor inquiries regarding the perception of Xiaomi as the company's primary competitor.

Fang stated explicitly that the company has never labeled Xiaomi as its biggest rival and does not view any external brand as a threat, emphasizing that challenges have always originated from within the organization itself. He remarked that competition is beneficial, expressing no fear of it but rather a welcoming attitude, as it serves to drive greater motivation.

This is not the first instance where Fang has publicly commented on Xiaomi. During the 2024 annual shareholders' meeting held in May of last year, he responded to an investor's question by stating that Midea Group Co.,Ltd. is not strategically concerned about Xiaomi's entry into the home appliance sector, a conclusion based on rational analysis and judgment.

Similarly, in an interview with media last year, Fang candidly noted that Xiaomi has entered all of Midea's business areas, including air conditioners and washing machines. He acknowledged the need for tactical attention to Xiaomi but reiterated a lack of strategic apprehension regarding its market entry.