Midea Group (000333) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 260.0 billion, up 3.55% year-over-year; net profit attributable to shareholders was RMB 26.4 billion, up 1.66% year-over-year.

• Cash flow from operating activities was RMB 37.6 billion, up 0.73% year-over-year.

• The company maintained its global leadership in smart home, industrial technology, building technology, robotics, new energy, healthcare, and logistics.

• Ranked 231st in the 2026 Fortune Global 500, up 15 places from last year.

Financial highlights

• Revenue: RMB 260.0 billion (+3.55% YoY); Net profit attributable to shareholders: RMB 26.4 billion (+1.66% YoY).

• Gross margin for manufacturing: 26.55%; smart home business gross margin: 27.95%.

• Basic EPS: RMB 3.52 (+3.23% YoY); diluted EPS: RMB 3.50 (+2.64% YoY).

• Net assets attributable to shareholders: RMB 212.9 billion (-4.64% from year-end 2025).

• Cash dividend: RMB 5 per 10 shares, total payout RMB 3.72 billion.

Outlook and guidance

• Focus on core growth in white goods and HVAC, aiming for global leadership.

• Continued investment in R&D and innovation, especially in robotics and new energy.

• Strengthen global OBM (own brand manufacturing) and localize operations.

• Domestic market: push for retail transformation and efficiency; ToB business to drive future growth.