Key takeaway

In 2025, Midea Group's performance demonstrated a trend of "revenue breakthrough and stable profitability," with significantly enhanced shareholder returns. Annual revenue exceeded 450 billion yuan for the first time, net profit attributable to parent company shareholders grew 14.03% year-on-year, gross margin remained stable, and expense control continued to improve. ToB business revenue increased 17.47% year-on-year, and overseas revenue share rose to 42.7%. The annual cash dividend payout ratio reached 73.6%, coupled with the launch of a new 6.5-13 billion yuan share repurchase plan, driving shareholder returns to a new high through a dual-engine approach. Looking ahead to 2026, the company will continue to deepen its global breakthroughs and digital-intelligence-driven strategy, embarking on a new cycle of high-quality development.

Event

Midea Group Releases 2025 Annual Performance Report Full-year 2025 operating revenue reached 458.502 billion yuan (YoY +12.08%); net profit attributable to parent company shareholders was 43.945 billion yuan (YoY +14.03%); Q4 singlequarter operating revenue was 93.786 billion yuan (YoY +5.69%); net profit attributable to parent company shareholders was 6.062 billion yuan (YoY -11.35%). The company plans to distribute a final dividend of 3.8 yuan per share, with a new share repurchase amount of 6.5-13 billion yuan.