MIDEA-GROUP
Midea released its financial report for the first half of 2022, showing semi-annual revenue growth from 5.0% to RMB183.7bn. Net profit growth was even faster than revenue, coming in at RMB 16bn with a YoY 6.6% increase.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220830006040/en/
Midea 2022 Semi-annual Results (Photo: Business Wire)
Balanced in both ToB and ToC businesses, Midea Smart Home revenue during the first half of 2022 was RMB126.9bn. According to AVC, Midea home appliance products ranked 1st during the first half of 2022 in both domestic online and offline market shares among 7 household appliance categories, including air conditioners and microwave ovens.
Industrial Technology achieved a revenue of RMB12.1bn with 13.3% YoY growth, and Midea’s global market of residential AC compressors increased to 44%, representing the 1st worldwide. The unit sales of motors for residential ACs and laundry appliances accounted for 42% of the global figures.
Building Technology realized significant growth of 33.1% RMB12.2bn revenue. Commercial AC ranked No.1 amongst the domestic market share while the export value of Midea’s heat pump grew by over 200% YoY, with its export volume ranking 1st in China’s heat pump industry.
Midea's overseas revenue over the first half of 2022 was RMB77.8bn with a YoY increase of 5.2%. With “China-Based Supply for the World + Local Supply”, Midea has advanced the construction of manufacturing bases in Egypt and Brazil to cover the local markets, begun Indian A/C compressor manufacturing bases, and integrated a Thai compressor company. With over 20,000 new sales networks, and having kicked off Midea direct sales stores in Brazil and the Philippines, Midea continues to improve its overseas distribution channels.
With Technology Leadership firmly in its sights as its long-term strategy, Midea continues to build artificial intelligence technical capabilities with R&D investment in the first half of 2022 numbering RMB5.9bn, with 10.5% YoY growth. Midea owns 35 worldwide R&D centers and has over 77,000 authorized patents under its belt to date.
Driven by intelligence, Midea loT has nearly 13million units of newly connected devices and services for over 70 million families.
About Midea Group
Midea Group comprises of five strategic business pillars: Smart Home, Industrial Technology, Building Technologies, Robotics & Automation, and Digital Innovation. Midea Group has over 160,000 employees in over 200 countries and regions, and ranks #245 on the Global Fortune 500 list of 2022.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220830006040/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SBC Medical added to membership of Russell 3000® Index28.6.2025 01:30:00 CEST | Press release
SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“SBC Medical”), a global franchise and provider of services for aesthetic clinics, has been added as a member of the broad-market Russell 3000® Index, effective after the US market opens on June 30, as part of the 2025 Russell indexes reconstitution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250608244276/en/ Yoshiyuki Aikawa-Director (Chairman), CEO Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000®Index as well as the appropriate growth and value style indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to
Altimetrik and SLK Software Join Forces to Create an AI-First Engineering Services Powerhouse27.6.2025 22:44:00 CEST | Press release
Altimetrik, a pure-play AI, Data and Digital engineering solutions company, today announced the signing of a definitive agreement to acquire SLK Software (“SLK”), a global technology services firm focused on delivering AI, intelligence automation and analytics solutions. The acquisition will further strengthen Altimetrik’s end-to-end enablement services and expand its customer reach, with a clear path to accelerate towards Altimetrik’s goal of reaching $1billion in annual revenue. The transaction remains subject to customary closing conditions and is expected to close in the second half of 2025. Financial details were not disclosed. Founded in 2000, SLK is recognized as a leader in the tech industry, and for its commitment to create innovative digital solutions. This strategic acquisition will significantly enhance the scale of Altimetrik’s capabilities, bringing together Altimetrik’s AI-first, platform-native engineering model and SLK’s full technology services stack that will further
Andersen Consulting udvider sine kompetencer inden for forretningstransformation med tilføjelsen af The Clearing27.6.2025 16:48:00 CEST | Pressemeddelelse
Andersen Consulting udbygger sin platform med samarbejdsfirmaet The Clearing, som er en managementkonsulentvirksomhed med speciale i organisatorisk omstilling og lederudvikling. The Clearing blev stiftet i 2009 og rådgiver kunder om komplekse udfordringer ved at afstemme ledelse, strategi, kultur og drift. Firmaet arbejder med føderale agenturer, virksomheder og nonprofitorganisationer med henblik på at skabe målbare forandringer på tværs af forskellige interessenter til gavn for en leders vision og strategi. Med dyb erfaring inden for flere sektorer, herunder national sikkerhed, sundhedspleje og finansielle tjenester, leder The Clearings unikke blanding af talent med ekspertise inden for organisationsudvikling, dataanalyse og visuel rådgivning forretningstransformationer i stor skala og arbejder sammen med kunder og eksperter for at sikre, at rådgivning omsættes til implementering. "Vi leverer transformative resultater, der ikke kun er i overensstemmelse med strategiske mål, men også
PRD Therapeutics Announces Initiation of First-in-Human Study for PRD00127.6.2025 16:00:00 CEST | Press release
PRD Therapeutics, Inc., a clinical stage company focused on the development of novel lipid metabolism regulators targeting homozygous familial hypercholesterolemia (HoFH) and metabolic dysfunction associated fatty liver disease (MASH/MASLD), today announced that the company recently initiated dosing in a First-in-Human (FIH) clinical trial of PRD001, a first-in-class SOAT2 (formerly known as ACAT2) selective inhibitor. “We are excited to initiate dosing in this clinical trial of PRD001. Many clinical trials have been conducted on SOAT1/2 dual or SOAT1 selective inhibitors, but this is the first clinical trial of an SOAT2 selective inhibitor” said Kanji Hosoda, Ph.D., CEO and co-founder of PRD Therapeutics. “Several results with SOAT1 or 2 knockout mice have been published, suggesting that knocking out or inhibiting only SOAT2 is crucial to demonstrate safety and efficacy. PRD001 is the world's first and only SOAT2-selective inhibitor and is expected to exhibit safety and efficacy in hu
STEMCELL Technologies Introduces STEMprep™ Tissue Dissociator System to Accelerate Research Discoveries27.6.2025 14:00:00 CEST | Press release
New instrument automates tissue processing for researchers in cancer, immunology and other science fields To help scientists accelerate their workflows, STEMCELL Technologies has commercially launched the STEMprep™ Tissue Dissociator System—a new benchtop instrument that automates, standardizes, and streamlines tissue dissociation, the process of breaking down tissue samples into single-cell suspensions for research purposes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250627342791/en/ To help scientists accelerate their workflows, STEMCELL Technologies has commercially launched the STEMprep™ Tissue Dissociator System—a new benchtop instrument that automates, standardizes, and streamlines tissue dissociation, the process of breaking down tissue samples into single-cell suspensions for research purposes. “Tissue dissociation is incredibly important for making advancements in research fields, like cancer and immunology, yet
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom