Midea Group Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Operating Revenue	418,111	374,029	344,133	316,465	308,298	261,475	Upgrade
Other Revenue	33,121	33,121	27,905	27,453	32,936	22,747	Upgrade
Revenue	451,232	407,150	372,038	343,918	341,234	284,222	Upgrade
Revenue Growth (YoY)	12.84%	9.44%	8.18%	0.79%	20.06%	2.16%	Upgrade
Cost of Revenue	333,418	300,206	276,612	261,006	265,129	217,317	Upgrade
Gross Profit	117,815	106,944	95,426	82,912	76,104	66,905	Upgrade
Selling, General & Admin	57,825	53,260	45,430	40,299	38,914	32,828	Upgrade
Research & Development	17,776	16,233	14,583	12,619	12,015	10,119	Upgrade
Other Operating Expenses	-1,381	-1,115	-265.88	-330.23	301.88	109.56	Upgrade
Operating Expenses	74,432	68,364	59,971	53,087	51,317	43,195	Upgrade
Operating Income	43,383	38,580	35,454	29,825	24,788	23,709	Upgrade
Interest Expense	-2,436	-2,455	-2,840	-1,880	-1,445	-1,411	Upgrade
Interest & Investment Income	12,599	10,578	9,087	7,836	9,674	7,514	Upgrade
Currency Exchange Gain (Loss)	-1,398	-1,398	-904.74	-507.08	798.12	446.35	Upgrade
Other Non Operating Income (Expenses)	2,709	249.82	-150.31	83.44	76.2	0.05	Upgrade
EBT Excluding Unusual Items	54,857	45,554	40,646	35,357	33,892	30,259	Upgrade
Gain (Loss) on Sale of Investments	-61.43	1,302	-226.49	-257.35	-166.41	1,763	Upgrade
Gain (Loss) on Sale of Assets	-56.25	214.9	-60.87	-59.85	58.26	-60.52	Upgrade
Asset Writedown	-592.73	-384.91	-78.02	-54.17	-35.02	-297.36	Upgrade
Other Unusual Items	3.86	3.86	-3.85	-30.13	-31.28	-0.35	Upgrade
Pretax Income	54,150	46,690	40,277	34,956	33,718	31,664	Upgrade
Income Tax Expense	8,906	7,933	6,532	5,146	4,702	4,157	Upgrade
Earnings From Continuing Operations	45,244	38,757	33,745	29,810	29,015	27,507	Upgrade
Minority Interest in Earnings	-522.55	-219.98	-25.42	-256.72	-441.73	-283.57	Upgrade
Net Income	44,722	38,537	33,720	29,554	28,574	27,223	Upgrade
Preferred Dividends & Other Adjustments	83.94	83.94	66.16	63.56	82.15	64.93	Upgrade
Net Income to Common	44,638	38,453	33,654	29,490	28,491	27,158	Upgrade
Net Income Growth	18.62%	14.29%	14.10%	3.43%	4.96%	12.44%	Upgrade
Shares Outstanding (Basic)	7,586	7,071	6,824	6,791	6,837	6,909	Upgrade
Shares Outstanding (Diluted)	7,628	7,113	6,849	6,819	6,906	6,972	Upgrade
Shares Change (YoY)	10.25%	3.85%	0.44%	-1.26%	-0.95%	2.97%	Upgrade
EPS (Basic)	5.88	5.44	4.93	4.34	4.17	3.93	Upgrade
EPS (Diluted)	5.86	5.42	4.92	4.33	4.14	3.90	Upgrade
EPS Growth	7.61%	10.07%	13.58%	4.75%	5.97%	9.20%	Upgrade
Free Cash Flow	47,858	52,672	51,589	27,306	28,266	24,901	Upgrade
Free Cash Flow Per Share	6.27	7.41	7.53	4.00	4.09	3.57	Upgrade
Dividend Per Share	4.000	3.500	3.000	2.500	1.700	1.600	Upgrade
Dividend Growth	33.33%	16.67%	20.00%	47.06%	6.25%	-	Upgrade
Gross Margin	26.11%	26.27%	25.65%	24.11%	22.30%	23.54%	Upgrade
Operating Margin	9.61%	9.48%	9.53%	8.67%	7.26%	8.34%	Upgrade
Profit Margin	9.89%	9.44%	9.05%	8.58%	8.35%	9.55%	Upgrade
Free Cash Flow Margin	10.61%	12.94%	13.87%	7.94%	8.28%	8.76%	Upgrade
EBITDA	49,257	45,086	42,803	36,333	30,058	28,730	Upgrade
EBITDA Margin	10.92%	11.07%	11.51%	10.56%	8.81%	10.11%	Upgrade
D&A For EBITDA	5,874	6,506	7,349	6,508	5,270	5,020	Upgrade
EBIT	43,383	38,580	35,454	29,825	24,788	23,709	Upgrade
EBIT Margin	9.61%	9.48%	9.53%	8.67%	7.26%	8.34%	Upgrade
Effective Tax Rate	16.45%	16.99%	16.22%	14.72%	13.95%	13.13%	Upgrade
Revenue as Reported	453,451	409,084	373,710	345,709	343,361	285,710	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.