Midea Group achieves outstanding performance in overseas markets

Midea Group released its annual report for 2023 on March 27, 2024. In 2023, Midea achieved revenue of 373.7 billion yuan, an increase of 8% year-on-year; and net profit attributable to the parent company of 33.7 billion yuan, an increase of 14% year-on-year. The announcement showed that Midea Group’s “COLMO+Toshiba” dual high-end brand strategy has begun to show initial results, with overall retail sales increasing by over 20%. Among them, COLMO’s high-end whole house smart solutions cover both smart appliances and smart homes after 5 years of development; Toshiba’s domestic market retail sales increased by over 60% in 2023, and during the “618” and “Double 11” periods in 2023, its online retail sales increased by 92% and 40% respectively.