FOSHAN, China, Aug. 19, 2024 /PRNewswire/ -- Midea Group has achieved a historic financial milestone, with revenue surpassing RMB 100 billion for two consecutive quarters and reaching a remarkable RMB 218.1 billion in the first half of 2024. This represents a 10% year-over-year increase, with profits jumping to RMB 20.8 billion, reflecting a 14% rise.
Revenue of Mainland China grew 8%, demonstrating Midea Group's strong market penetration in China. Internationally, the company's revenue experienced a remarkable 13% leap. OBM operations recorded a considerable revenue growth, with an over 50% YOY increase in e-commerce sales revenue.
The consumer (ToC) segment reported a revenue of RMB 147.6 billion, an 11% increase, while commercial and industrial ...
