Midea Group earned 43.945 billion yuan last year and plans to buy back shares of up to 13 billion yuan.

Following a RMB 11.6 billion share buyback in 2025, Midea Group (000333) plans another large-scale share buyback.

On the evening of March 30, Midea Group disclosed its 2025 annual report, and the company also released its latest share buyback plan. The annual report of Midea Group shows that in 2025, the company achieved total operating revenue of RMB 458.5 billion, representing a year-on-year increase of 12%; and realized net profit attributable to shareholders of RMB 43.945 billion, representing a year-on-year increase of 14.03%. Midea Group’s basic earnings per share for 2025 were RMB 5.8.

In terms of business segments, in 2025, Midea’s smart home business achieved revenue of RMB 299.927 billion, representing a year-on-year increase of 11.28%.

For the building technology business, revenue was RMB 35.791 billion, up 25.72%. The company’s revenue from robotics and automation was RMB 31.011 billion, up 8.05%; revenue from industrial technology and other innovation businesses was RMB 27.232 billion and RMB 28.719 billion, respectively.

In terms of regions, in 2025, Midea Group’s overseas revenue reached RMB 195.9 billion, up 16% year over year. Overseas business revenue accounted for 42.93%.

Midea Group announced the company’s 2025 profit distribution plan. Specifically, cash dividends of RMB 43 per 10 shares (including tax) will be paid. Among this, the company’s interim profit distribution plan for 2025—cash dividends of RMB 5 per 10 shares (including tax)—has been fully implemented. The company’s year-end 2025 profit distribution plan this time will pay cash dividends of RMB 38 per 10 shares (including tax), and it will not increase share capital by converting capital reserves into shares.

On March 30, Midea Group held the 13th meeting of the fifth session of its board of directors, where it examined and approved the “Plan for Repurchasing the Company’s A-shares by Centralized Competitive Bidding.” It agreed that the company will repurchase some of the company’s A-share stocks already issued domestically using centralized competitive bidding transactions, for the purpose of implementing an equity incentive plan or an employee stock ownership plan.

Based on confidence in the company’s future development prospects and a high level of recognition of the company’s value, and taking into account factors such as the company’s operating situation, the development outlook for its principal businesses, the company’s financial position, and its future profitability, Midea Group plans that the total amount of funds for this share repurchase will not exceed RMB 13.0 billion and will not be less than RMB 6.5 billion. The funds will come from the company’s own funds or a dedicated stock repurchase special loan provided by China Bank, Shunde Sub-branch.

Under the condition that the repurchase price will not exceed RMB 100 per share, if calculated based on the upper limit of RMB 13.0 billion, the number of shares to be repurchased is expected to be no less than 130 million shares, or about 1.71% of the company’s total issued share capital currently. If calculated based on the lower limit of RMB 6.5 billion, the number of shares to be repurchased is expected to be about 0.85% of the company’s total issued share capital currently.

On March 30, Midea Group’s share price fell 3.58%, and the closing price was RMB 72.10 per share. The latest market capitalization was RMB 548.2 billion. As of December 31, 2025, Midea Group’s total assets were approximately RMB 608.8 billion, with monetary funds of approximately RMB 85.2 billion. The company has sufficient funds on its books.

Calculated using the RMB 13.0 billion upper limit, Midea Group’s repurchase plan disclosed this time is one of the buyback plans with relatively large amounts in A-share history. Previously, Gree Electric disclosed a buyback plan with an upper limit of RMB 15.0 billion in 2021, and Midea Group has also rolled out large-scale buyback plans multiple times.

In its 2025 annual report, Midea Group disclosed that in 2025, the company launched two A-share repurchase plans and also implemented an H-share repurchase. The total amount of share repurchases for the full year exceeded RMB 11.6 billion, and Midea Group’s historical cumulative share repurchase amount has already exceeded RMB 38.8 billion.

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