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
Shilpa Medicare and Gate2Brain Sign Strategic Equity Partnership to Advance First-in-Class Brain Cancer Therapy8.6.2026 13:00:00 EEST | Press release
Shilpa Biocare Pvt Ltd, a Subsidiary of Shilpa Medicare Limited (BSE/NSE: SHILPAMED) has entered a strategic equity partnership with Gate2Brain, S.L., a biotechnology company focused on CNS therapeutics. Shilpa becomes a strategic shareholder and CMC, manufacturing, and regulatory partner for G2B-002 — Gate2Brain's lead program targeting deadly pediatric brain cancers, DIPG and pGBM, both with Orphan Drug Designation from the US FDA and EMA. G2B-002 uses Gate2Brain's proprietary MiniAp4 peptide shuttle to deliver SN-38 across the blood-brain barrier, demonstrating up to 100-fold greater brain drug transport preclinically. First-in-human trials are anticipated by FY28. G2B-002 targets high-growth oncology markets — the glioblastoma market projected at USD 6.48B by 2035 (CAGR: 7.97%), pediatric brain tumors at USD 2.47B by 2031 (CAGR: 6.9%), and DIPG at USD 1.2B by 2035 (CAGR: 7.1%). Gate2Brain's MiniAp4 platform further extends potential across rare pediatric cancers and broader CNS cat
Haleon Invests in India to Deliver Better Everyday Health to Rural Communities8.6.2026 12:11:00 EEST | Press release
Haleon, a consumer company that is solely focused on better everyday health, today announces plans to expand its business in India, one of its fastest-growing markets and key to Haleon delivering its strategy and ambitions to reach one billion more consumers by 2030. Haleon will invest approximately £175 million2 in building a new oral health manufacturing site in Madhya Pradesh, central India and accelerate distribution efforts in rural India to meet rising demand. The new site will also support supply for wider Asia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608753094/en/ Haleon Health Ambassador on motorbike, equipped with testing kits, samples and diagnostic tools Building capacity to meet rising demand The new site, which is well-positioned in the middle of the country and close to some of India’s most renowned technical colleges, marks an important step in the delivery of Haleon’s Win as One strategy. Win as On
Diabetology’s Breakthrough Clinical Data From Oraglutide™ Oral GLP-18.6.2026 11:56:00 EEST | Press release
Diabetology Limited (Jersey) poster presentation (https://diabetology.co.uk/ada-poster) 1724-P at the ADA 86th Scientific Session, New Orleans, reporting first human data from Oraglutide™ — small capsule intestinally-released oral semaglutide, formulated using the proprietary Axcess™ delivery technology. KEY HIGHLIGHTS 6-day glucose control: A single 4 mg oral dose of Oraglutide™ produced a sustained fall in glucose. Measuring 14% at Day 6 (p=.046), the longest duration presented from a single oral GLP-1 dose in a human IVGTT study. 28% increase in insulin secretion: Relative to placebo, insulin percent AUC increased by 12% day 0, (p=0.02) & 28% Day 1 (p = 0.025). Novel intestinal depot effect: Blood levels of semaglutide were higher on Day 1 than dosing on Day 0, consistent with lipid associated depot effect in the intestinal wall, a fundamentally new pharmacological finding. No nausea or side effects observed: No adverse events observed across the 8-subject cohort over one week, cons
Cardiolife Partners with Bhutan Ministry of Health to Strengthen Nationwide Cardiac Care8.6.2026 11:00:00 EEST | Press release
Cardiolife is proud to partner with the Ministry of Health of Bhutan to roll out its advanced AI-powered ECG diagnostics system nationwide. The collaboration will provide access to early ECG diagnosis and prevention, marking a major step forward in the country’s effort to strengthen heart health and preventive care. Bhutan has a population of just over 700,000 people and heart failure and other cardiac conditionsare among the leading causes of death. Following constructive meetings in Thimphu, His Excellency, the Health Minister, officially endorsed the national rollout of Cardiolife’s solution and expressed appreciation for Cardiolife’s commitment to advancing cardiac care through the provision of free software and ECG equipment in Bhutan. “We are grateful to the Cardiolife team for their commitment to improving heart health in Bhutan. With cardiovascular diseases on the rise, this collaboration marks an important milestone in our journey to strengthen early detection and prevention a
Reply at VivaTech 2026: Making AI, Agents and Robotics Happen Across the Enterprise8.6.2026 11:00:00 EEST | Press release
Reply[EXM, STAR: REY] is taking part in VivaTech 2026, Europe's largest innovation and technology event, held from June 17 to 20 at Paris Expo Porte de Versailles. At the event, Reply will showcase its latest innovations around AI for software engineering, AI-powered experiences, data and AI, and industrial AI. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608667672/en/ At VivaTech 2026 Reply will showcase its latest innovations around AI for software engineering, AI-powered experiences, data and AI, and industrial AI. Industries are being reshaped by AI, autonomous agents, robotics and new digital experiences. From strategy to execution, Reply helps companies move beyond experimentation and innovative ideas into concrete business value. Visitors can meet Reply in Hall 7.1, booth 1G12, and explore how, through real use cases, scalable solutions and live demonstrations, the group makes innovation happen. This year, Reply'
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