Kone's Thirty Years of Deep Roots in Chi Diagram

Strengths

• 30 years in China with a complete local manufacturing and supply chain system and high-end brand positioning
• Cumulative shipments of 1.5 million units and 600,000 units under maintenance in Greater China, boasting a strong existing base

Weaknesses

• Fierce price competition in China's new elevator market, putting pressure on high-end brand premiums
• High business dependence on real estate market prosperity with a relatively high single-market concentration

Opportunities

• Urban renewal and old elevator modernization releasing maintenance and modernization demand
• Digital maintenance and low-carbon elevators aligning with policy guidance
• China's infrastructure and supertall building projects continuously driving new elevator orders

Threats

• Continuous increase in market share by domestic Chinese elevator manufacturers
• Real estate market downturn squeezing new elevator signings
• Group-level M&A integration bringing organizational and channel uncertainties