On the evening of August 29, 2025, home appliance industry giant Midea Group Co.,Ltd. announced its record-breaking half-year financial results alongside significant executive leadership changes, generating widespread market attention.
The company's board of directors formally appointed Wang Jianguo as Executive President of Midea Group Co.,Ltd. Wang, 48, brings extensive experience from his tenure at Midea. He previously served as Director of Supply Chain Management for the Home Air Conditioning Division, accumulating deep expertise in supply chain management and establishing a solid foundation for stable product supply and cost control. He later served as General Manager of the Refrigerator Division, leading his team to achieve outstanding performance in the refrigerator market. Wang also held the position of President of Midea International, overseeing overseas market expansion and operations while advancing Midea's global brand development. During his tenure as President of the Smart Home Business Group, he actively promoted smart home business development, contributing to Midea's leading position in the smart home sector. He previously served as Vice President and currently serves as Executive Director of Midea Group Co.,Ltd. This appointment as Executive President represents high recognition of his past achievements and signifies his expanded role in strategic decision-making and overall operations.
Simultaneously, Zhao Lei, President of Midea Group Co.,Ltd.'s Home Air Conditioning Division, was promoted to President of the Smart Home Business Group while continuing to serve concurrently as President of the Home Air Conditioning Division. Midea Group Co.,Ltd. Chairman and President Fang Hongbo previously revealed that the company is actively cultivating its succession talent pipeline. Zhao Lei's promotion represents a significant step in Midea's talent development initiatives. With extensive experience and exceptional leadership capabilities in the air conditioning sector, his concurrent role as President of the Smart Home Business Group is expected to extend successful air conditioning business practices throughout the smart home segment, driving further development of smart home operations.
For the first half of 2025, Midea Group Co.,Ltd. delivered impressive financial results. Total operating revenue reached 252.3 billion yuan, representing a 15.7% year-over-year increase, while net profit attributable to shareholders reached 26 billion yuan, up 25% year-over-year, both achieving historical highs. These achievements resulted from Midea's coordinated development and effective positioning across multiple business segments.
Alongside strong performance results, Midea Group Co.,Ltd. announced its 2025 interim cash dividend plan, proposing a distribution of 5 yuan per 10 shares. This generous dividend policy demonstrates the company's commitment to shareholder interests while showcasing strong financial position and profitability. For investors, this represents a positive signal that helps strengthen confidence in the company.
During the first half of this year, Midea's smart home business, primarily focused on home appliances, accelerated its DTC (Direct-to-Consumer) transformation domestically. The DTC model emphasizes direct communication and interaction between enterprises and consumers, understanding consumer needs and feedback to better satisfy personalized requirements. Midea established comprehensive online and offline omnichannel sales networks, strengthened consumer interaction, and enhanced shopping experiences. The company also utilized big data and artificial intelligence technologies to analyze consumer behavior and preferences, providing more accurate product recommendations and services.
In international markets, Midea actively expanded its OBM (Own Brand Manufacturing) business. The COLMO and Toshiba sub-brands achieved retail sales growth exceeding 60% year-over-year during the first half, indicating consumer recognition and preference for Midea's proprietary brands in international markets. Midea's proprietary brand business accounts for over 45% of overseas revenue, demonstrating the company's growing brand influence in international markets. Additionally, Midea added 18 new overseas manufacturing bases, expanding capacity in Thailand, Indonesia, Vietnam, Malaysia, Egypt, Saudi Arabia, and other countries. This not only helps reduce production costs and improve supply efficiency but also better serves local market demands while further expanding international market share.
Beyond smart home operations, ToB business has become Midea's second growth engine. During the first half of this year, Midea's new energy and industrial technology business revenue reached 22 billion yuan, up 28.6% year-over-year. With increasing global demand for clean energy, the new energy business faces broad development opportunities. Leveraging advantages in technology development and manufacturing, Midea actively positioned itself in the new energy sector, launching competitive products and solutions that achieved strong market performance.
Smart building technology business revenue reached 19.5 billion yuan, up 24.2% year-over-year. With accelerating urbanization and increasing demands for building comfort and intelligence, the smart building technology market demonstrates rapid growth trends. Midea provides intelligent building solutions, including building automation systems and energy management systems, delivering more efficient, energy-saving, and comfortable operating environments for buildings, earning market favor.
Robotics and automation business revenue totaled 15.1 billion yuan, up 8.3% year-over-year. In the Industry 4.0 era, robotics and automation technology applications continue expanding. Through independent research and development and acquisitions, Midea continuously enhances its technological capabilities and market share in robotics and automation, providing strong support for manufacturing industry transformation and upgrading.
During the first half of 2025, Midea Group Co.,Ltd. achieved significant results across performance, executive adjustments, and business development. Executive leadership changes inject new vitality into the company's future development, while outstanding half-year results demonstrate the company's robust strength. Positive development trends in smart home business and ToB operations establish a solid foundation for sustained growth. Looking forward, Midea Group Co.,Ltd. is positioned to maintain its leading position in domestic and international markets while achieving even more remarkable development.