Midea Group Co.,Ltd. (HKG: 00300) released its interim report for the fiscal year 2026 on August 28, marking its sixth consecutive half-year period of simultaneous revenue and profit growth. The company achieved total operating revenue of RMB 261.05 billion, a year-on-year increase of 3.5%, while net profit attributable to shareholders of the listed company reached RMB 26.45 billion, up 1.7% from the previous year.
As performance hits new heights, Midea is vigorously promoting the application of AI across its entire business value chain, steadily progressing toward its transformation into an "AI + Industrial Technology Group." During the first half of 2026, while consolidating its leading position in the white goods industry, commercial and industrial solutions in robotics, new energy, building technology, industrial components, healthcare, and logistics have emerged as one of the primary engines driving the company's sustained growth. Notably, revenue from building technology and robotics & automation segments grew by over 10% year-on-year.
According to the interim report, in the first half of 2026, Midea's global market volume share for household air conditioner compressors, household air conditioner motors, and washing machine motors all ranked first. In the domestic market, Midea's central air conditioning sales accounted for over 22% of total market sales, commercial multi-split systems captured more than 29% of domestic sales, and centrifugal chiller units secured over 16% of domestic market sales, each holding the industry's top position. Additionally, KUKA's domestic market volume share in China climbed to 9.7%, rising to second place in the industry, while further expanding its advantages in heavy-load robots, with KUKA's domestic market share for robots with loads above 300kg surpassing 50%.
Fostering 20,000+ Autonomous Agents to Drive Cost Reduction and Efficiency Across the Value Chain
During the first half of this year, Midea Group Co.,Ltd. has further deepened AI's empowerment across its entire value chain. By incubating over 20,000 autonomous agents, the company achieved cumulative efficiency gains exceeding 9 million hours and cost savings surpassing RMB 450 million. In front-end R&D, Midea has developed an AI planning platform covering everything from user demand insights to product definition, enabling AI-human collaboration in key scenarios and AI substitution in repetitive tasks, resulting in a 30%-60% efficiency improvement in individual scenario processes.
In manufacturing, 14 core autonomous agents have replaced traditional manual tasks that took hours with second-level responses, boosting average efficiency in core scenarios by over 30% and accelerating production scheduling response speed by 50%. For product sales, AI-driven sales and production intelligent agents have improved domestic inventory turnover efficiency by 4.4%. The scale of transactions closed through AI-generated business opportunities continues to expand, while self-developed AI supports the full-chain planning and execution of overseas business from quotation to shipment, achieving an overall efficiency improvement of over 60%.
In supply chain logistics, AI has facilitated a 10% improvement in domestic omni-channel inventory turnover, a 35% increase in overseas warehouse operation efficiency, an 8% year-on-year reduction in comprehensive logistics costs, and a 98% transparency rate for full-chain data. For user experience, Midea launched MevoX, the industry's first AI agent for home appliances, which has developed multi-scenario proactive intelligence capabilities across six major systems including air, water, and cooking, serving over 150 million users.
Establishing Four Data Centers and Actively Expanding into AIDC-Related Businesses
Currently, Midea Group Co.,Ltd. has established four global data centers, forming a unified global data asset system. Total data volume has surpassed 54PB, with data assets exceeding 17PB. Data services were called over 6 billion times in the first half of the year, covering more than 50 application scenarios across 8 business domains including domestic sales, exports, and supply chain. Meanwhile, as computing power scales exponentially, Midea Building Technologies, Midea Energy, and Midea Industrial Technology have comprehensively expanded into businesses related to thermal management and energy supply for AI data centers (AIDC).
In the first half of this year, Midea Building Technologies initiated construction of a liquid cooling intelligent manufacturing base in Shunde, Foshan, which upon completion in 2027 will drive mass production of core data center products including magnetic levitation cold sources and energy storage thermal management systems. The globally first-launched self-developed magnetic levitation refrigerant supplement CDU has achieved batch delivery at a hyperscale data center in Malaysia. Additionally, a customized integrated cold station solution has provided a reliable "cooling foundation" for Pengcheng Cloud Brain, a national-level supercomputing platform. Currently, Midea is participating in data center projects for multiple leading internet companies and government institutions, has established deep cooperation with global leading telecom enterprises to provide data center thermal management solutions, and has signed a strategic cooperation agreement with Alibaba to jointly focus on AIDC liquid cooling technology, building a green computing foundation for the AI era.
Furthermore, Midea's self-developed humanoid robots are advancing applications across multiple scenarios. The humanoid robot "Mei Luo U" has been operational at a premium washing machine campus for over 2 months, completing over 100,000 screw fastening operations. For home and commercial scenarios, Midea's second-generation high-performance bipedal full-humanoid robot "Meila X2" now possesses terrain-adaptive locomotion capabilities including human-like walking, stair climbing, running, and dancing, achieving over 95% success rates in open-ended household tasks such as towel folding, table clearing, and sofa tidying.
Portable Split Air Conditioners Sweep European Market; Overseas OBM Revenue Share Exceeds 50%
An Austrian man drove 200 kilometers across the border to purchase one; programmers developed paid software to track inventory; multiple regions sold out with second-hand prices doubling. This summer, Midea's PortaSplit portable split air conditioner became a phenomenal hit in the European market, with both sales volume and revenue growing over 200% year-on-year in the first half. The success of PortaSplit, co-developed by Chinese and European teams, reflects the effectiveness of Midea Group Co.,Ltd.'s "local for local" localization strategy: deeply understanding climate characteristics, building standards, infrastructure, and lifestyle differences across global regions, establishing closed-loop R&D, design, and sales operations in target markets, and customizing products that better meet local user needs.
In North America, Midea's U-shaped inverter window air conditioner, designed to fit double-hung windows in old cities like New York, has become the top-selling window unit on US e-commerce platforms. In the Middle East, Midea's customized high-temperature air conditioners operate reliably under extreme heat up to 70°C, becoming household retail bestsellers in the Gulf region. In Africa, Midea's UNICOOL inverter air conditioners, compatible with small generator power supplies and adaptable to unstable grids, are gaining popularity across markets in West Africa and beyond.
For overseas markets, Midea has built a global R&D, manufacturing, and sales network, with 29 overseas R&D centers across 11 countries, integrating global R&D resources. Of its 68 major production bases worldwide, 45 are located overseas, enabling global production and delivery. Overseas sales now account for 43% of total revenue, with products exported to over 200 countries and regions. The company operates approximately 5,500 after-sales service outlets, and more than 25,000 overseas retailers have joined its overseas sales platform.
More notably, Midea Group Co.,Ltd. is transitioning from "product going global" to "systematic capability going global." In June 2026, Midea launched its "Going Global Partner Program" in Thailand, integrating 72 digital and AI solutions, 13 intelligent agents, and 25 application scenarios. This program provides Chinese companies expanding overseas with comprehensive, full-lifecycle support from factory planning from zero to one, production line implementation, to localized long-term operations. This move marks a new phase in Chinese manufacturing's globalization journey, evolving from "fragmented capacity spillover" to "systematic capability symbiosis."
Stock Price Hits Historic High; Midea Claims Title of A-Share's All-Time Buyback Champion
The rapid business development, overseas breakthroughs, and AI-driven improvements across the value chain have provided a solid foundation for Midea Group Co.,Ltd. to continue rewarding shareholders. Since its listing in 2013, Midea has distributed cumulative dividends exceeding RMB 170 billion, with per-share dividends growing over 330% in the past decade. Since the beginning of 2026, Midea has repurchased RMB 9.5 billion of A-shares. As of the end of June, cumulative historical share buybacks have surpassed RMB 45 billion, making it the company with the highest cumulative repurchase amount in A-share history. Additionally, Midea has attracted insurance capital, with China Life, Ping An Insurance, Taiping Insurance, and other insurers entering its top ten shareholders.
This year, Midea's A-share price once rose to RMB 88.95 per share (adjusted), setting a historic high, while its H-share price reached HK$99.75 per share (adjusted), also a record high since its listing on the Hong Kong Stock Exchange. In the 2026 Fortune Global 500 ranking, Midea Group Co.,Ltd. secured the 231st position, climbing 15 places from the previous year and marking its 11th consecutive year on the prestigious list.
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