Summary of Key Points
Recently, there have been rumors that Zhumi Technology’s “Large Appliance Division” has been disbanded and that the company is in arrears with its suppliers. While the company officially denies this dissolution, it has indeed made adjustments to its large appliance business: the production line for refrigerators has been halted, the related operations have been integrated into the Smart Home segment, and the team has been streamlined, with a focus on developing overseas markets. At the same time, domestic refrigerator sales in China are declining, making a full recovery difficult. However, Zhumi’s core businesses in cleaning appliances and hair dryers remain strong.
Detailed Analysis
1. Official Denial of Dis dissolution, but Actual Business Adjustments
The president of Zhumi’s Smart Home Appliances Group clearly stated that the “disintegration of the Large Appliance Division” is a rumor, emphasizing that large appliances are still a core part of the company’s business. However, industry sources indicate significant changes: the Large Appliance Division is no longer a separate unit and has been merged into the Smart Home segment, with costs and profits no longer being calculated separately. The planned production line for refrigerators in Nanjing has been canceled, and the team has been reduced. In other words, it’s not a complete dissolution but rather a strategic reorganization, with a focus on scaling back domestic operations and shifting resources to overseas markets.
2. Zhumi’s Refrigerator Business in China
Data from OviCloud shows that since 2026, Zhumi’s refrigerator sales online and offline in China have not even made it into the top 20. Industry insiders suggest that Zhumi adopted a “focus on overseas” strategy at the beginning of this year, which explains the reduction in domestic operations. Additionally, Zhumi has been relying on other companies for manufacturing its refrigerator products, as it never established its own production line.
3. The Nanjing Refrigerator Factory
In April 2025, Zhumi held a groundbreaking ceremony for its smart large appliance headquarters in Lishui, Nanjing. However, local business officials reported that the foundation work has not even been completed, and the production line has not started construction. Therefore, the rumors of a stalled factory construction are true, and the plan to build its own production line has been put on hold.
4. The Global Refrigerator Market
Industry data from IndustryOnline shows that China’s total refrigerator sales in the first half of 2026 were 51.065 million units, a year-on-year decrease of 6.7%, while overseas sales increased. Analysts point out that this year’s subsidy program for replacing old appliances with new ones only targets green and smart products, which has limited its impact. Additionally, high sales from last year, inventory buildup in channels, and fluctuations in raw material costs have made it difficult for the appliance industry to recover. Zhumi’s adjustment of its large appliance business is in line with these industry trends: focusing on overseas markets due to the challenging domestic market.
5. Zhumi’s Core Businesses Remain Strong
Suppliers confirm that Zhumi is paying its debts on time, and its core businesses in cleaning appliances (such as robotic vacuums) and hair dryers are performing well. This indicates that the adjustments to its large appliance business will not affect its main sources of revenue, and the company’s foundation remains stable.
Overall, Zhumi is making a rational strategic adjustment by scaling back its domestic large appliance operations and focusing on overseas markets under the pressure of the industry. By doing so, it is preserving its core businesses and maintaining its competitive position in the market.