Midea Announces 2022 Semi-annual Results: Steady Growth in Revenue and Profit, Acceleration in Technology-driven Transformation
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
Frontgrade Unveils RT-SADE: Precision Motor Control for Next-Gen Space Missions19.11.2025 14:00:00 EET | Press release
Frontgrade™ Technologies, a leading provider of high-reliability electronic solutions for space and national security missions, today announced the release of the RT-SADE (Radiation-Tolerant Solar Array Drive Electronics), a next-generation microprocessor-based stepper motor controller engineered to deliver precision, reliability, and versatility for demanding spacecraft and defense applications. Designed for mission-critical motion control systems such as solar array drives, RT-SADE combines radiation-tolerant electronics, advanced fault management, and flexible configuration options to give customers superior performance and confidence in the harshest environments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251119546361/en/ Built around a microprocessor and advanced circuitry rated to 30 krad total ionizing dose, RT-SADE ensures long-term durability and mission assurance for Low- to Medium-Earth Orbit (LEO/MEO) operati
Murata Named Top Innovator for UltraSonic Clearing Device Technology Advancing All-Weather ADAS19.11.2025 14:00:00 EET | Press release
Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) has been selected as a Top Innovator in the Digital category of the CLEPA Innovation Awards. The award recognizes Murata’s UltraSonic Clearing Device (USCD) technology, which is currently in development to augment the effectiveness of cameras and sensors used in advanced driver assistance systems (ADAS) and autonomous driving applications, regardless of weather conditions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251119372516/en/ [Murata Manufacturing Co., Ltd.] CLEPA While current camera and sensor technologies often rely on ideal operating conditions, their performance can be negatively impacted by rain, fog, dust, ice, and snow. Murata’s USCD technology is addressing this challenge by using ultrasonic vibrations to disperse water and remove debris from the camera lens and sensor, maintaining visibility. The ultrasonic vibrations also heat the outer le
CMOs Face a ‘Reputation and Results’ Reckoning, According to NIQ’s 2026 Outlook19.11.2025 13:00:00 EET | Press release
NielsenIQ (NYSE: NIQ), a global leader in consumer intelligence, today released its CMO Outlook: Guide to 2026 report, revealing how chief marketing officers (CMOs) are navigating a critical inflection point between brand building and revenue accountability. According to the report, 83% of CMOs remain confident in their brand’s equity, even as they face tightening budgets and heightened scrutiny over ROI. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118947080/en/ NIQ CMO Outlook: Guide to 2026 “Every marketing dollar is now under the microscope,” said Marta Cyhan-Bowles, Chief Communications Officer & Head of Global Marketing COE, NIQ. “With organizations prioritizing cost reductions, CMOs are being challenged not just to spend wisely, but to prove how marketing directly drives awareness, growth, and loyalty. It’s no longer just about efficiency; it’s about proving impact – all with largely flat budgets.” Key Findings f
Data Space Technology Leaders Advance Data Interoperability in Construction and Real Estate at the Gaia-X Summit19.11.2025 12:03:00 EET | Press release
Leaders in data space technology are converging at the Gaia-X Summit, in Porto November 20-21, to address the imperative of interoperability within and across data spaces in the construction and real estate sectors. The main objective is to assess how data spaces can leverage the world’s estimated $393 trillion in real estate assets. Achieving this involves exploring numerous use cases among the entire building lifecycle, from design to demolition, including construction, renovation and facility management operations, which creates a win-win situation for both industry and technology stakeholders. In France, the construction and renovation market alone is estimated at €200 billion annually. Designed to address the sector’s challenges, Digital TER-X is a technology demonstrator serving the construction and real estate use cases. Its relevance has been recognized, notably by being named in November 2025 Gaia-X Lighthouse Project, just one year after its Gaia-X Endorsed Project status, an
Quectel Takes Smart Meters to the Next Generation at Enlit 202519.11.2025 11:00:00 EET | Press release
Quectel Wireless Solutions, an end-to-end global IoT solutions provider, has announced it is attending the Enlit 2025 event in Bilbao, Spain on 18-20 November 2025 and will be at Stand 1.G86. Quectel is attending to showcase how its comprehensive range of modules, antennas and services are poised to assist continued massive uptake of smart meters and assist industry moves from first to second-generation devices. With deployments of smart meters, comprised of electricity, water and gas meters, exceeding 1.06 billion at the end of 2023 and set to continue in all regions, according to IoT Analytics, Quectel is seeing growth across all meter types and expansion of meter-based use cases. Smart electricity meters are being deployed in developing markets for the first time and mature markets are accelerating deployments of second-generation smart meters to help users optimize consumption and manage their own power generation via two-way metering communications. Growth is being experienced acr
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