Midea H1 2026 Revenue Rises 3.5% to RMB261.05 Billion as Overseas Own-Brand Sales Top 50%

On September 15, 2026, Midea Group held an online briefing on its first-half 2026 results. Chairman and President Fang Hongbo said at the meeting that the share of ToB business in total revenue has risen from 18.5% in 2020 to 26.8% in 2025, and that commercial and industrial solutions have become one of the main engines of the company's continued growth. The company continues to develop and iterate compressors, motors and other core industrial components, and has entered frontier technology fields such as industrial robotics and green energy through acquisitions. Fang said that in the second half Midea will firmly build out robotics, new energy and other secondary core businesses, and will innovate the mechanisms and systems of its overseas own-brand business to advance localized operations.

On the robotics business, Midea Group Board Secretary Gao Shu said that, according to MIR Industrial Research statistics, Kuka industrial robot shipments in the Chinese market exceeded 18,000 units in the first half of 2026, with a domestic market sales share of 9.7%, rising to second place in the industry. In the heavy-duty robot segment, Kuka robots with a payload above 300 kg captured more than 50% of domestic market sales, and are widely used in scenarios including auto parts, energy storage batteries, ships and aerospace.

On overseas business, Fang said Midea's overseas sales already account for more than 40% of the company's total sales, with products exported to more than 200 countries and regions worldwide. The company has 29 overseas research and development centers in 11 countries, and 45 of its 68 major global production bases are located overseas. As of June 2026, Midea had nearly 50,000 overseas employees. In the first half of 2026, revenue from Midea's overseas own-brand business reached more than 50% of overseas revenue in the smart home business.

In the first half of 2026, Midea advanced preparations for five major overseas supply chain delivery centers in Thailand, Egypt, Indonesia, Brazil and Vietnam. In Southeast Asia, the company accelerated expansion of its Thailand home air-conditioner plant while optimizing manufacturing capacity in Indonesia and Vietnam; in the Middle East and Africa, it completed construction and production start-up at its Saudi Arabia home air-conditioner plant and its Egypt refrigerator and microwave oven plants; in the Americas, it began construction of a washing machine plant in Mexico; and in Europe, it pushed forward integration of the TEKA plants.

On the financial side, Zhong Zheng, Midea Group CFO, Vice President and Chief Financial Officer, said that in the first half of 2026 the company's total operating revenue rose 3.5% year on year to RMB261.05 billion, while net profit attributable to shareholders of the listed company rose 1.7% year on year to RMB26.45 billion. The company said domestic home appliance market demand came under some pressure in the first half, while overseas markets were affected by geopolitical conflicts, exchange rate fluctuations and trade protectionism, and prices of raw materials such as copper and plastics rose further. In the second half the company will continue to manage exchange rate hedging and cost control well. On buybacks, Zhong said Midea's 2026 A-share buyback plan is for no more than RMB13 billion and no less than RMB6.5 billion, and the repurchased shares will be used to cancel registered capital in accordance with law. As of the end of August 2026, the buyback plan had repurchased about 99.8 million A shares for a total payment of RMB8.02 billion.