MIDEA-GROUP
31.8.2022 11:37:36 CEST | Business Wire | Press release
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
AHS Properties: At 26, Abbas Sajwani Is Deploying Billions Into Dubai’s Future21.5.2026 08:00:00 CEST | Press release
Named the youngest billionaire in real estate globally by Forbes, the AHS Properties founder is scaling a AED 50 billion pipeline on a single conviction: Dubai is no longer a luxury market - it’s a capital destination. While global real estate capital recalibrates, Abbas Sajwani is accelerating. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519804834/en/ Abbas Sajwani, Founder and CEO of AHS Properties. (Photo: AETOSWire) The 26-year-old Founder and CEO of AHS Properties - recently recognised by Forbes as the youngest Arab billionaire and the youngest billionaire globally in real estate, with a net worth of $1.9 billion - is building one of the fastest-scaling development platforms in Dubai. Since launching in 2021, AHS Properties has expanded from ultra-luxury villa redevelopments into a multi-billion-dollar portfolio spanning waterfront residential, Grade-A commercial, and large-scale mixed-use developments across Duba
Xsolla and the Dubai Films and Games Commission Create a Strategic Partnership to Connect Dubai-Based Developers to Global Markets21.5.2026 05:16:00 CEST | Press release
Multi-Year Agreement Creates Opportunities to Build All The Things for Video Games in Dubai and MENA Xsolla, a leading global video game commerce company, and the Dubai Games Commissioner, in coordination with the Dubai Films and Games Commission, announced a multi-year strategic partnership to accelerate the development of the video game industry and expand commercial access for developers operating across the Middle East and North Africa. The announcement was made at GamesBeat Summit 2026 in Los Angeles, California. The partnership will unite Xsolla's global commerce infrastructure, including direct-to-consumer storefronts, intelligent payments across 1,000+ payment methods in 200+ geographies, and player engagement tools, with DFGC's mandate to establish Dubai as a world-class destination for video game development and publishing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520329315/en/ Xsolla and the DFGC partner
Marquee Brands Enters Strategic Partnership With DAMAC Group for a Majority Interest in Roberto Cavalli20.5.2026 20:30:00 CEST | Press release
The Partnership Positions Roberto Cavalli for a New Phase of Global Expansion and Omnichannel Growth Marquee Brands, the premier global brand management company and leading brand accelerator, today announced a definitive agreement for a majority interest in Roberto Cavalli, through a strategic partnership with DAMAC Group, the leading Dubai-based global conglomerate and luxury real estate developer. The transaction is expected to close in the second quarter of 2026, after which DAMAC Group will remain a significant shareholder. Founded in Florence in 1970, Roberto Cavalli the iconic luxury house celebrated for its avant-garde design and distinct Italian craftsmanship joins Marquee Brands’ portfolio of timeless global brands, including Martha Stewart, Laura Ashley, Sur La Table, BCBGMAXAZRIA and Stance. The addition of Roberto Cavalli further strengthens Marquee Brands’ position as a leader in the luxury and lifestyle sectors, bringing total portfolio-wide retail sales to approximately
Variational Secures ~$50M to Bring Liquidity from Traditional Markets To Crypto20.5.2026 19:07:00 CEST | Press release
Already powering $200B+ in crypto volume, Variational is using its zero-fee liquidity aggregation model to bring traditional markets on-chain. Variational, a protocol for on-chain derivatives trading, has announced a ~$50M Series A raise led by Dragonfly with support from Bain Capital Crypto, Coinbase Ventures, and other strategic investors. The funding coincides with the launch of the protocol’s first Real-World Asset (RWA) markets. This initial rollout allows traders to access perpetuals on select commodities alongside their crypto portfolio, laying the groundwork for Variational to route liquidity directly from traditional markets in the coming months. While the broader crypto industry is attempting to bootstrap RWA liquidity from scratch on isolated Central Limit Order Books (CLOBs), Variational introduces a fundamentally different architecture. Instead of starting new order books from scratch for each new market, Variational aggregates and routes liquidity from both existing tradi
EIG’s MidOcean Energy Announces $120m Investment from The Arab Energy Fund as Part of Equity Raise20.5.2026 17:29:00 CEST | Press release
MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, today announced a $120 million equity investment from The Arab Energy Fund (‘’TAEF’’), a leading multilateral impact financial institution, as part of its current equity capital raise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520063539/en/ TAEF’s investment further strengthens MidOcean’s high-quality investor base and underscores continued strong interest in the Company’s strategy to build a diversified, resilient and long-life global LNG business. There is significant further momentum from additional investors currently in documentation, and MidOcean will continue to raise capital, with a cumulative target of up to $2 billion from new investors. R. Blair Thomas, MidOcean Chairman and EIG CEO, said: “We are delighted to welcome The Arab Energy Fund as a shareholder in MidOcean. Their significant expertise
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