Midea Announces 2022 Semi-annual Results: Steady Growth in Revenue and Profit, Acceleration in Technology-driven Transformation
14.9.2022 18:20:00 EEST | 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/
Contact information
Lori Luo, luory17@midea.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
NIQ’s Optiq™ Goes Live in Discover, Expanding Access to Trusted Consumer Intelligence9.9.2026 13:45:00 EEST | Press release
NielsenIQ (NIQ), a leading consumer intelligence company, today announced that Optiq is now live within Discover, NIQ’s platform for accessing, analyzing and applying consumer and market intelligence, advancing the company’s strategy to make trusted consumer intelligence easier to access and apply. Where Ask Arthur introduced new ways to explore and analyze NIQ data through AI within Discover, Optiq expands that experience across conversational AI, mobile access and enterprise AI integrations, giving clients greater flexibility to access and apply NIQ intelligence across the applications and workflows where they make decisions. “AI models are becoming ubiquitous. Trusted intelligence is not,” said Irina Stoian, Chief AI Commercial Officer at NIQ. “That is why we are building the full system. Think of it like a body: harmonized NIQ data acts as the nervous system, delivering signals about the marketplace to decisioning agents that act as the brain, helping clients evaluate relevant info
Cegid and Silae Join Forces to Create a European Leader in AI-Driven Business Technology9.9.2026 13:32:00 EEST | Press release
Cegid, an AI-driven European leader in cloud business management software for small and medium-sized businesses (SMBs), and accounting professionals, and Silae, France’s leading payroll and human resources platform, today announced their intention to merge. The combination will create a national technology champion and the leading European technology platform for businesses and their partners, helping them grow safely and efficiently with the support of a fully integrated and compliant suite covering their end-to-end financial and administrative needs. Between them, Cegid, following its recent acquisition of Shine, and Silae power the day-to-day accounting, tax, finance and payroll of 2 million end-customers and more than 15,000 chartered accountancy firms, while producing more than 13 million payslips across Europe every month. The planned transaction is expected to value the combined group at more than €10 billion in enterprise value, positioning it as one of France's largest softwar
Compass Pathways’ New 52-Week Topline Open-Label Data from Phase 3 COMP005 Trial Demonstrates Additional Benefit from Another COMP360 Dose in Part C Extending Durability Out to 1 Year9.9.2026 13:30:00 EEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today the topline 52-week results (Part C) from its Phase 3 COMP005 trial of COMP360, a synthetic, proprietary formulation of psilocybin, for treatment-resistant depression (TRD) which further support COMP360’s differentiated profile and potential for long lasting benefit. The open-label Part C data demonstrate four important findings: first, notable additional benefit was observed with an added reduction in MADRSscore leading to an average 13-point reduction from baseline at Week 52 and extended out to 1 year for participants who were randomized to the 25 mg arm and received an additional dosein Part C; second, for participants in the Placebo arm who received their first dose of COMP360 25 mg in Part C, these findings further reinforce that a single dose of 25 mg has the potential to produce rapid onset, meaningful effect and durabi
New ABB and BCG Report Highlights Growing Role of Direct Current Technologies in Future Power Systems9.9.2026 12:42:00 EEST | Press release
ABB today published a new report, The Strategic Case for Hybrid AC/DC Power: Shaping the Transition to the Next Electrical Architecture, developed in collaboration with Boston Consulting Group (BCG). The report makes the case that direct current (DC) technology is moving from the periphery to the center of industrial, commercial, and digital infrastructure – and that the decisions made by business leaders and policymakers in the next two to three years will determine who shapes that transition and who inherits it. The future of power distribution is not an either-or choice between alternating current (AC) and direct current, but a hybrid system that combines the strengths of both technologies. While AC will remain the backbone of most transmission and regional distribution networks, DC is expected to play an increasingly important role within facilities where many major energy sources and loads already operate natively on direct current. The fastest-growing technologies, including sola
Chiesi Group Delivers Solid H1 2026 Performance, Combining Growth, Continued Investment in Innovation and Positive Economic Impact Across Communities9.9.2026 12:00:00 EEST | Press release
Chiesi Group ("Chiesi"), an international research-focused biopharmaceutical company and certified B Corp, today announced its financial results for the six months ended 30 June 2026 ("H1 2026"). Performance across therapeutic areas and regions Chiesi reported revenues of €1.89 billion, representing growth of +3.6% at constant exchange rates (CER) compared with H1 2025. These results do not include the impact of the recent acquisition of KalVista Pharmaceuticals. The Group's growth is supported by continued expansion of its global rare diseases area (+€45m; +9.9% @CER), and sustained performance in neonatology and specialty care therapeutic areas (+6.5% @CER). The respiratory health area remains broadly stable (-0.8% @CER) fueled by the strong growth in our inhaled triple therapy portfolio. Driven by the ongoing execution of its international growth strategy, Chiesi continued to expand its presence in key markets, with particularly strong momentum in the United States (+9.6% @CER), whi
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