Net profit of Midea for Q3 up by 32%

Midea achieved revenue of 216.76 billion RMB for the first three quarters of 2020 with a shrinkage of 1.9% year-on-year, and net profit attributable to owners of the parent company 22 billion RMB for the same period of time, up by 3.3% year-on-year, according to the company’s Q3 financial report released on October 30 2020. For Q3 alone, the company posted revenue of 77.69 billion RMB, down by 15.7% year-on-year, and net profit attributable to the parent company 8.09 billion RMB, up by 32% year-on-year. The company revealed on its official Wechat account that its domestic revenue for Q3 came to 38.8 billion RMB, up by 21.6% year-on-year, revenue from exports 23.5 billion RMB, up by 18% year-on-year and overseas orders surged by 50% year-on-year for Q3.