Home appliance giant Midea's revenue up 7.7% in January-September

GUANGZHOU -- Chinese home appliance giant Midea Group saw its revenue rise 7.67 percent year-on-year in the first three quarters of 2023, the company said on Monday.

Its revenue totaled 291.1 billion yuan ($40.6 billion) in the January-September period, it said in a report.

The company realized a total net profit of 27.7 billion yuan during the period, up 13.27 percent year-on-year, according to the report.

In the third quarter alone, Midea Group achieved a revenue of 94.1 billion yuan, a year-on-year increase of 7.32 percent, and a net profit of 9.5 billion yuan, a year-on-year increase of 11.93 percent.

To date, the Fortune 500 company has 31 research and development centers and 40 major production bases worldwide. In the first half of this year, its overseas revenue hit 80.54 billion yuan, accounting for 40.88 percent of the company's total revenue.