Midea Group (000333) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥251.1 billion, up 15.58% year-over-year; net profit attributable to shareholders was ¥26.0 billion, up 25.04% year-over-year.

• Operating cash flow increased 11.33% year-over-year to ¥37.3 billion.

• The company maintained its position as a global leader in home appliances, with top market share in several categories.

• Significant progress in overseas markets, with double-digit sales growth in key regions and enhanced local manufacturing and supply chain capabilities.

Financial highlights

• Revenue: ¥251.1 billion, up 15.58% year-over-year.

• Net profit attributable to shareholders: ¥26.0 billion, up 25.04% year-over-year.

• Operating cash flow: ¥37.3 billion, up 11.33% year-over-year.

• Basic and diluted EPS: ¥3.41, up 12.91% and 13.29% year-over-year, respectively.

• Gross margin for manufacturing: 27.10%; for smart home business: 28.52%.

• Total assets: ¥638.0 billion; net assets attributable to shareholders: ¥216.1 billion.

Outlook and guidance

• The company will continue to focus on technology leadership, digital transformation, and global expansion.

• H2 2025 priorities include cost optimization, product simplification, DTC model transformation, and strengthening overseas OBM strategy.

• Emphasis on R&D, high-end product development, and digital/AI-driven operational efficiency.