As the smart home industry is booming, relevant listed companies occupy an important position in the market by virtue of their unique advantages.
Taking technological innovation capabilities, market share, ecological synergy and brand influence as the core evaluation criteria, the following companies are leading the development of the industry.
As a leader in all-scenario hardware ecology and cost-effectiveness, Xiaomi Group (01810.HK) relies on the “mobile phone × AIoT” strategy to build a hardware matrix covering all scenarios such as smart door locks, sweeping robots, and smart home appliances. The number of connected devices in the ecological chain exceeds 680 million.
Its core competitiveness lies in its cost-effective strategy. The price of the whole-house smart package has dropped to 29,800 yuan. Driven by explosive products, its smart door locks and sweeping robots have a leading market share.
At the same time, it has penetrated overseas markets through the Southeast Asian ODM model, with a penetration rate of 35%.
Since 2025, Xiaomi’s competitiveness in the full-scenario hardware ecosystem and cost-effective market has continued to strengthen, firmly ranking at the forefront of the industry.
Although Huawei has not been listed as a whole, it is the leader in the whole-house intelligent system and engineering market.
Through the Hongmeng Intelligent Connect system to achieve seamless collaboration across devices, and PLC power line communication technology to reduce latency, a high-end whole-house intelligent solution has been built.
Its core competitiveness lies in its high penetration rate (41%) in the finely decorated housing market and its generative AI-empowered home manager. Its demand forecast accuracy reaches 92%, and it has cooperated with developers such as Vanke on more than 1,200 projects.
Huawei Intelligent Selection companies in the ecological chain (such as Thalys and BAIC Blue Valley) are all listed companies and are at the forefront of the industry with their technology layout and market share.
Haier Smart Home (600690.SH) is a leader in high-end scenario-based services and aging-friendly transformation.
Relying on the three-winged bird platform to integrate design, construction, operation and maintenance in a closed loop, it provides high-end whole-house interconnection solutions with a unit price of 280,000 yuan.
Its core competitiveness lies in aging-friendly transformation, with aging-friendly package revenue accounting for 32%, as well as technological empowerment. The brain-computer interface smart bedroom can optimize sleep by 73%. It also integrates 23,000 ecological resource providers to cover all home scenarios.
Since 2025, Haier’s leading position in the high-end scenario-based services and aging-friendly market has been further strengthened.
Midea Group (000333.SZ) is a leader in smart manufacturing and green energy management.
Intelligent manufacturing is empowered with industrial robots (annual production capacity of 80,000 units), air conditioning energy consumption is reduced by 32% through AI energy-saving algorithms, and the installed capacity of photovoltaic energy storage systems increases by 240% annually.
Its core competitiveness lies in green technology innovation, in line with the EU carbon tariff policy, and the intelligent upgrade of all categories of home appliances, such as smart air conditioners and smart refrigerators. At the same time, it has made significant progress in linking car and home data in the human-car-home ecosystem.
Since 2025, Midea’s advantages in intelligent manufacturing and green energy management have enabled it to maintain its leading position.
Gree Electric Appliances (000651.SZ), as the leader in the integration of industrial refrigeration and AI technology, relies on the DeepSeekR1 large model to integrate voice air conditioning, and adapts its self-developed magnetic levitation heat pump technology to the data center to build an integrated solution for light, storage and air, which is in line with the EU carbon tariff policy.
Its core competitiveness lies in the self-research of core components to ensure closed-loop energy management, and its leadership in industrial refrigeration technology. It has more than 120,000 patents and 46 “internationally leading” technologies. It also continues to invest in AI technology integration such as voice control and energy consumption optimization.
Since 2025, Gree has ranked first in competitiveness in the field of industrial refrigeration and AI integration.
Cobos (603486.SH) is a leader in home service robots and AI vision.
With sweeping robots (AI obstacle avoidance technology iterated to version 3.0, visual recognition and 3D structured light integration) and service robots (repurchase rate over 40%) as the core, a home service robot ecosystem has been built.
Its core competitiveness lies in its AI vision technology that breaks through homogeneous competition and expands scenarios. Commercial cleaning scenarios are extended to shopping malls and hotels, and it also differentiates its layout in high-end models superimposed on floor scrubbers.
Since 2025, Ecovacs’ leading position in the field of home service robots and AI vision has placed it at the top.
Stone Technology (688169.SH) is a leader in smart cleaning and high-end home appliances.
Relying on LDS laser navigation technology to adapt to complex environments, and overseas e-commerce penetration exceeding 50%, it has built an intelligent cleaning ecosystem (sweeping robots, floor washing machines).
Its core competitiveness lies in the speed of technology iteration. Its AI obstacle avoidance technology has won international awards, as well as its localization layout and deepening of Costco channels. At the same time, overseas revenue accounts for 75%, and the proportion of high-end models has increased.
Since 2025, Roborock’s advantages in smart cleaning and high-end home appliances have placed it at the top.
In summary, the above-mentioned companies are all industry leaders and share many commonalities.
In terms of technological innovation, they all have core patents in the fields of AI, Internet of Things, green energy, etc., such as Huawei’s Hongmeng system, Haier’s brain-computer interface, and Gree’s magnetic levitation heat pump; in terms of ecological collaboration, they have built an intelligent ecosystem covering all scenarios, such as Xiaomi’s all-scenario hardware, Haier’s Tri-winged Bird platform, and Midea’s People
Chejia Ecology; in terms of market penetration, they all have high penetration rates in high-end markets (such as finely decorated houses, suitable for aging) or sinking markets (such as Xiaomi’s cost-effective packages); in terms of global layout, they have expanded international markets through overseas ODM, localized production, etc., such as Xiaomi’s Southeast Asian market and Stone Technology’s overseas e-commerce.
This content is for information purposes only and does not constitute investment advice.
