Source: Aug. 19, 2024 /PRNewswire/
Midea Group has achieved a historic financial milestone, with revenue surpassing RMB 100 billion for two consecutive quarters and reaching a remarkable RMB 218.1 billion in the first half of 2024. This represents a 10% year-over-year increase, with profits jumping to RMB 20.8 billion, reflecting a 14% rise.
Revenue of Mainland China grew 8%, demonstrating Midea Group's strong market penetration in China. Internationally, the company's revenue experienced a remarkable 13% leap. OBM operations recorded a considerable revenue growth, with an over 50% YOY increase in e-commerce sales revenue.
The consumer (ToC) segment reported a revenue of RMB 147.6 billion, an 11% increase, while commercial and industrial solution (ToB) revenues saw a 6% year-over-year growth. The new energy and industrial technology segment reached RMB 17.1 billion, intelligent building technology revenues were at RMB 15.7 billion, and robotics and automation revenues stood at RMB 13.9 billion.