China’s leading home appliance giant expands globally with energy solutions, robotics, and premium brands driving momentum.
China’s Midea Group reported RMB 128.4 billion revenue in Q1 2025, up 20.6% year-on-year, with net profit up 38% to RMB 12.4 billion. The profit margin rose to 9.9%, showing solid performance.
Shareholders continue to benefit, as cumulative dividends since 2013 now exceed RMB 134 billion, supported by new buyback programs.
Business-to-Business operations were the main growth driver. Energy Solutions and Industrial Technology rose 45%, Intelligent Building Technology expanded via acquisitions, and Robotics gained major projects in Europe. Midea Medical became a new core unit, while logistics arm Annto prepares a Hong Kong IPO.
Global expansion was clear: cross-border e-commerce jumped over 50%, AIGC tools improved service efficiency, and new hubs in Thailand and Saudi Arabia strengthened presence abroad. At home, premium brands COLMO and Toshiba grew more than 55%, with new AI-powered appliances leading innovation.
This mix of shareholder returns, global reach, and innovation could expand Midea’s impact across home appliances, automation, and healthcare worldwide.
Key Terms Explained
- ToB (Business-to-Business): Sales and services provided directly to other businesses or industries, rather than to individual consumers.
- AIGC (AI-Generated Content): Artificial intelligence tools that automatically create digital content, used here to improve efficiency in overseas customer service.
- Share Buyback: A financial strategy where a company repurchases its own shares from the market to boost stock value and benefit shareholders.
