xi's moments
Home | Companies

China home appliances giant Midea net profit up 17.4%

Xinhua | Updated: 2019-08-31 19:48

A logo of Midea Group, Chinese electrical appliance manufacturing company. [Photo/VCG]

GUANGZHOU - Midea Group, a leading home appliances maker in China, reported a 17.4-percent annual growth in net profit in the first half of 2019.

The company earned a net profit of 15.2 billion yuan ($2.1 billion) in the first six months, according to its interim results report filed to the Shenzhen Stock Exchange on Friday.

Over the period, the company, based in the city of Foshan in South China's Guangdong province, raked in revenue of 153.8 billion yuan, up 7.8 percent year-on-year.

Midea said in the report that it had continued to ramp up its research and development efforts and further develop its robotics and smart home appliances businesses in the January-June period.

Founded in 1968, Midea plays a leading role in areas including consumer appliances, robotics and industrial automation systems.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349