Midea Group Releases H1 2021 Financial Report

Consumer Discretionary Author: 石伟 Aug 31, 2021 10:49 AM (GMT+8)

The income from home appliances and electrical appliances accounts for more than 80%; the proportion of new businesses such as robotics has increased.


According to the interim performance report for 2021:

- The operating revenue increased by 24.98%, reaching CNY 173.8 billion.

- The net profit attributable to the parent company increased 7.76%, reaching CNY 15 billion.

- The revenue of HVAC was CNY 76.4 billion (up 19.33%), accounting for 43.96% of the revenue.

- The revenue of consumer electrical appliances was CNY 64.96 billion (up 22.4%), accounting for 37.38% of the revenue. 

- The revenue of robots, automation systems and other manufacturing industries was CNY 12.69 billion (up 33.28%), accounting for the rest 7.3% of the revenue.

- The gross profit margins of HVAC and consumer appliances were 20.85% (down 3.35%) and 29.6% (down 2%) respectively; while the that of robots, automation systems and other manufacturing industries was 22.94%, achieving an increase of 3.94%.

- The domestic revenue, which takes 57.45% of the total revenue, was CNY 99.85 billion,showing a year-on-year increase of 29.28%. 

- The revenue for foreign markets was CNY 73.96 billion, representing an increase of 19.6%, accounting for 42.55% of revenue.