Midea Group (000333) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB107,322,446 thousand, down 4.12% YoY; net profit attributable to shareholders was RMB14,947,334 thousand, up 25.93%.

• 9M revenue reached RMB367,364,936 thousand, up 1.19% YoY, while attributable net profit rose 9.27% to RMB41,393,371 thousand.

• Adjusted for non-recurring items, 9M attributable net profit fell 22.49% YoY to RMB28,787,970 thousand, primarily due to the classification of FX losses and derivative gains.

Financial highlights

• 9M operating profit increased to RMB50,715,051 thousand from RMB45,736,705 thousand; net profit was RMB41,498,562 thousand versus RMB38,637,827 thousand.

• 9M non-recurring gains, net of tax and minority interests, totaled RMB12,605,401 thousand; gains from financial asset and derivative fair-value changes and disposals were significant contributors.

• 9M financial expense/income shifted to an expense of RMB4,127,689 thousand from income of RMB6,749,427 thousand; the change was attributed mainly to FX gains and losses.

Segment performance

• 9M Building Technologies revenue was RMB30.9 billion, up 10% YoY; Robotics and Automation revenue was RMB24.9 billion, up 10%.

• 9M Industrial Technology revenue was RMB18.3 billion, down 13% YoY.