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The Unexpected National Champion of Refrigerator Exports

来源:21世纪经济报道 媒体 2025-02-14 19:13:19
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(原标题:The Unexpected National Champion of Refrigerator Exports)

The brand that has held the championship of China's refrigerator exporter for 15 consecutive years,is neither Haier nor Midea,but Homa, a company rooted in Zhongshan, Guangdong province.But why has Homa,remained lesser known to domestic consumers?Most refrigerator brands typically establish themselves in domestic market first,before venturing overseas.Homa, however, took the opposite approach,targeting international markets from day one.

At the beginning of the 21st century,Guangdong had already established itself as a home appliance export hub.Among the top 10 appliance companies in export volume  in 2000,four were based in Guangdong.Amid this wave of expansion,Homa was established in Zhongshan in 2002,targeting the export business at inception,manufacturing for many foreign brands.This quickly established Homa as the champion of Chinese refrigerator exports, And to this day,70% of its revenue comes from overseas business.

The relatively small share of domestic revenue is a key reason for Homa's low profile in China.Behind the scenes,Homa has been quietly amassing wealth,leading in both production and sales volume, with consistent growth.In 2023,Homa's sales exceeded 15 million units.However, even as an export champion,Homa faced a "sales crisis."Between 2018 and 2019,Homa's new business initiatives stalled,with refrigerator inventory exceeding a million units.Each unit in inventory,Represented tied-up capital,and increasing warehouse costs.

With millions of unsold appliances internally, and mounting external debt,Homa could no longer recover independently.That is when TCL stepped in.through acquiring stakes in Homa, TCL took controlling ownership in 2021.In 2023, TCL helped Homa acquire TCL Home Appliance (Hefei),integrating it into TCL's refrigeration and washing machine division.Why would a major player like TCL choose Homa?This leads us to the bigger picture.

Despite the 60% proportion of China's fridge output in terms of total global output,domestic sales and market size represent just 20% of the overall figure.Finding a practical approach to broaden overseas channels is a headache for many brands.Homa, which had already cracked the international market,became a launchpad for TCL's overseas expansion.

Yet Homa's contributions to TCL go beyond that.After ongoing research and adjustments,Homa now boasts 13 automated production lines,with its automation equipment being continuously upgraded for years,creating an industry-leading high-end smart factory.What followed its union with TCLwere revenues of 8.96 billion yuan in TCL Smart Home during the first half of 2024,a yearly increase of 24.7%.In late October, Homa launched a new fully integrated refrigerator,featuring not only a smart temperature control system,but also AI dialogue control capabilities.

However, producing such a refrigerator, requires more than just one company's capabilities.It depends on support from Zhongshan's entire industrial chain.Zhongshan, the birthplace of Homa,has companies throughout the supply chain, from upstream components like chips, PCBs, sensors, capacitors, and smart controllers,to midstream products like smart TVs, air conditioners, and refrigerators,and downstream sales channels,supporting Homa's journey toward smart manufacturing.

From "Made in China" to "Quality in China,"and now to "Smart Manufacturing in China,"Chinese home appliance companies have never stood alone, but rather progress together through mutual support.


出品:南财国际传播中心 21新媒体中心 创意互动中心

策划统筹:于晓娜 丁青云

内容统筹:谭婷 谢珍

责任编辑:陆秀

执行统筹:黄欣然 

设计统筹:林军明

视频统筹:白宇航

监制:施诗

英文翻译&配音:李莹亮

海外运营监制: 黄燕淑

海外运营内容统筹: 黄子豪

运营支持:曾静娇

审校:陈晶晶 黄志明

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