Chinese Appliance Makers Accelerate Global Expansion: 2025 Results Reveal “Going Out” Strategy
Why China’s Overseas Push Matters Now
The perception of Chinese products as cheap and low-quality is rapidly becoming outdated.
According to a May 2026 report from CITIC Securities, overseas markets have become the core growth engine for China’s home appliance and smart hardware industry. While domestic markets struggle with subsidy program aftereffects and real estate market weakness, Chinese manufacturers continue to steadily expand their global market share.
Despite headwinds including tariff increases, RMB fluctuations, and intensifying price competition, the pace of overseas expansion represents a significant signal for international business professionals and investors tracking China’s tech sector.
Why “Going Out” Has Become the Core Growth Engine
Domestic Slowdown vs. Overseas Resilience
The industry’s overall structure can be summarized as: “Domestic: front-loaded growth then decline; Overseas: steady expansion.”
Domestically, the first half of 2025 saw revenue surge thanks to government appliance trade-in subsidies (以旧换新). However, from Q4 2025 onward, many sub-sectors turned negative year-over-year as subsidy effects faded and comparison bases rose.
Overseas markets tell a different story. Looking at overseas revenue growth for the three major white goods manufacturers:
| Company | 2025 Overseas Revenue | Overseas Growth | Domestic Growth |
|---|---|---|---|
| Midea Group | RMB 195.9B | +15.92% | +9.40% |
| Haier Smart Home | RMB 154.5B | +8.15% | +3.05% |
| Hisense Home Appliances | RMB 45.4B | -5.38% | +6.44% |
Midea Group’s overseas growth rate significantly outpaced domestic performance, with over 45% of overseas revenue now coming from OBM (Original Brand Manufacturing) products. This represents a clear shift from pure OEM exports to brand-driven market expansion.
The “China Moment” in TV: Hisense and TCL’s Global Ascent
The most dramatic transformation is occurring in the TV and black goods sector.
In 2025, combined TV shipments from Hisense and TCL reached approximately 61 million units, far exceeding LG’s roughly 21.84 million units. Among the world’s top four TV manufacturers, two Chinese companies now lead in unit shipments, surpassing Samsung’s approximately 36.92 million units.
Profitability continues to improve as well:
- TCL Electronics: Net profit margin 2.18% (+1.24 points vs. 2023)
- Hisense Visual Technology: Net profit margin 4.25% (+0.34 points vs. 2023)
In contrast, Samsung and LG’s TV business revenues recorded year-over-year declines in 2025. The report characterizes this situation as the “China Moment” — an era of Chinese dominance.
Concrete Data on the Depth of Global Expansion
Midea Group’s Overseas Strategy: Direct Operations in 50 Countries
Midea Group’s expansion velocity deserves special attention:
- Countries with direct local subsidiaries: Expanded from 27 in 2024 to 50 countries in 2025
- Overseas e-commerce revenue: +35%+ year-over-year, with UK, France, Italy, Korea, Brazil, and Argentina exceeding +50% growth
- Japan market: Combined retail share of six white goods categories under the Toshiba brand reached over 16%
In Europe, Midea completed the acquisition of premium kitchen brand TEKA, pursuing a multi-brand cross-selling strategy that delivered double-digit revenue growth across the region.
Hisense Home Appliances: Comprehensive Regional Deployment
Hisense’s 2025 regional growth rates demonstrate well-rounded overseas capabilities:
- Europe: White goods revenue +22% (washing machines +38%)
- North America: Home appliance revenue +13% (dishwashers +56%)
- South America: White goods revenue +28% (refrigerators +43%)
- Southeast Asia (ASEAN): Own-brand revenue +23.5%
Motorcycles and Leisure Vehicles: The Next Wave
Beyond appliances, the “going out” wave extends to other sectors. In motorcycles and leisure vehicles, CFMoto and Loncin General are rapidly expanding overseas market share. CFMoto’s overseas fuel motorcycle revenue grew +21.88% in 2025.
Meanwhile, Taotao Vehicles preemptively established production bases in Southeast Asia and the US for golf carts, avoiding tariff impacts while rapidly expanding share. Q1 2026 revenue growth reached +65.66%.
Implications for International Businesses and Investors
Career Opportunities
As Chinese appliance makers accelerate overseas expansion, several career opportunities are emerging:
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Localization talent demand: Midea, Haier, and Hisense are strengthening bases in European and Japanese markets, increasing demand for marketing, sales, and logistics professionals. Toshiba white goods (under Midea) achieving 16%+ Japan market share indicates the scale of these operations.
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Market research and consulting: Tariff responses and production base diversification (Southeast Asia, Turkey) are creating demand for expertise in navigating regulatory and supply chain complexities.
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Technology and manufacturing: TCL’s strategic partnership with Sony, Hisense’s FIFA World Cup sponsorship activities — touchpoints with established international players are increasing.
Business Implications
The strategic imperatives for international companies are clear:
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Update competitive analysis: Reassess whether evaluations of Chinese manufacturers in TV, air conditioning, and refrigerators are based on outdated perceptions. Hisense and TCL already surpass Korean competitors in unit shipments.
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Review OEM and supply chain arrangements: Cleaning appliance (robot vacuum) OEM companies saw profit declines of 80-90%+ in Q1 2026 due to tariffs and currency fluctuations. Companies using Chinese manufacturers as contract producers need urgent risk diversification strategies.
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Evaluate investment opportunities: The white goods sector offers high-dividend, shareholder-return-focused stocks including Midea Group (74.35% payout ratio), Gree Electric (approximately 7.78% dividend yield), and Haier Smart Home — potential stable income sources for China-focused portfolios.
Key Takeaways
1. China’s “going out” strategy has evolved from quantity to quality
This expansion is no longer simply about volume. Chinese manufacturers are pursuing high-value-added deployment through own-brand products, with rising OBM ratios, expanding local subsidiaries, and brand acquisitions through M&A. The differentiation from pure “low-price competition” is becoming unmistakable.
2. TV enters the “China Moment”
Hisense and TCL’s unit share has surpassed Samsung and LG. With continued profitability improvements, long-term competitive positioning appears increasingly sustainable. TCL’s Sony partnership and Hisense’s World Cup sponsorship could serve as catalysts for further brand enhancement.
3. Tariff and currency risks remain critical concerns
From Q4 2025 through Q1 2026, significant increases in financial expense ratios (currency losses) pressured profits across white goods, cleaning appliances, and motorcycle companies. Investment decisions must include assessment of currency hedging status and production base diversification.
→ Related: China Smart Home Market Trends | China AI Industry Report | AWE 2026 Highlights
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