Chinese home appliance maker Midea posts solid H1 revenue growth

China’s leading home appliance manufacturer Midea Group saw its revenue rise 24.98 percent year on year in the first half of 2021, following strong sales growth.

Its revenue reached 173.8 billion yuan (about 26.9 billion U.S. dollars) in the January-June period, the Fortune 500 company said in an interim financial report filed with the Shenzhen Stock Exchange on Tuesday.

Over the period, the company chalked up 15 billion yuan in net profit, up 7.76 percent year on year, according to the report.

Midea said its major home appliance products expanded their shares in online and offline domestic markets in the first six months of this year. The company was the top seller of household air conditioners in both markets during the period.