On March 29, Midea Group released its 2024 annual report. The report shows that Midea's revenue in 2024 was RMB 407.150 billion, a year-on-year increase of 9.44%. Net profit attributable to shareholders was RMB 38.537 billion, up 14.29% year-on-year.
Revenue from manufacturing business was RMB 362.655 billion, up 8.89%, accounting for 89.07% of total revenue, other businesses brought in RMB 44.495 billion, a 14.16% increase, representing 10.93% of total revenue.
By business segment, smart home business revenue reached RMB 269.532 billion, up 9.41%; commercial and industrial solutions brought in RMB 104.496 billion, up 6.87%; revenue from new energy and industrial technology was RMB 33.610 billion, up 20.58%; revenue from smart building technology was RMB 28.470 billion, up 9.86%; robotics and automation revenue was RMB 28.701 billion, down 7.58%.
By region, domestic revenue was RMB 238.115 billion, up 7.68%; overseas revenue was RMB 169.034 billion, up 12.01%.