China's home appliances giant Midea profit up 16.6 pct in Q1

BEIJING -- Midea Group, a leading home appliances maker in China, has reported a net profit growth of 16.6 percent year-on-year in the first quarter of 2019, according to its financial statement released Monday.

The company's net profits attributable to its shareholders totalled 6.1 billion yuan (about 900 million US dollars).

Its revenue surpassed 75 billion yuan between January and March, up 7.84 percent.

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