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

Securities Times reporter Wu Zhi

After repurchasing RMB 11.6 billion in 2025, Midea Group (000333) is planning another large-scale share buyback.

On the evening of March 30, Midea Group disclosed its 2025 annual report, and also released its latest share repurchase plan at the same time. According to Midea Group’s annual report, in 2025 the company achieved total operating revenue of RMB 458.5 billion, up 12% year over year; and attributable net profit of RMB 43.945 billion, up 14.03% year over year. Midea Group’s basic earnings per share for 2025 was RMB 5.8.

From the perspective of business segments, in 2025 Midea’s smart home business generated revenue of RMB 299.927 billion, up 11.28% year over year.

The building technology business recorded revenue of RMB 35.791 billion, up 25.72% year over year. Revenue from robots and automation was RMB 31.011 billion, up 8.05% year over year; revenue from industrial technology and other innovation businesses was RMB 27.232 billion and RMB 28.719 billion, respectively.

From a regional perspective, in 2025 Midea Group’s overseas revenue reached RMB 195.9 billion, up 16% year over year, and overseas business revenue accounted for 42.93%.

Midea Group has announced its 2025 profit distribution plan. Specifically, it will distribute cash dividends of RMB 4.3 per 10 shares (tax included). Among this, the interim profit distribution plan for 2025, which distributes cash dividends of RMB 0.5 per 10 shares (tax included), has already been fully implemented. The company’s year-end 2025 profit distribution plan this time is to distribute cash dividends of RMB 3.8 per 10 shares (tax included), and it will not increase share capital through converting capital reserve into share capital.

At the 13th meeting of the fifth session of its board of directors held on March 30, Midea Group considered and approved a resolution on “a plan to repurchase the company’s A shares by centralized competitive bidding.” It agreed that the company will repurchase some of its A-share stocks already issued domestically through centralized competitive bidding transactions, for the purpose of implementing an equity incentive plan or an employee shareholding plan.

Based on confidence in the company’s future development prospects and a high recognition of the company’s value, and in combination with factors including the company’s operating situation, the development prospects of its main businesses, its financial position, and its future profitability, Midea Group plans to repurchase shares with a total funding amount of no more than RMB 13 billion and no less than RMB 6.5 billion. Its funding sources are the company’s own funds or a special stock repurchase loan provided by the Bank of China, Shunde Sub-branch.

Under the condition that the repurchase price will not exceed RMB 100 per share, using the upper limit repurchase amount of RMB 13 billion, the expected number of shares to be repurchased is no less than 130 million shares, or about 1.71% of the company’s currently issued total share capital; using the lower limit repurchase amount of RMB 6.5 billion, it is expected that the number of shares to be repurchased will be about 0.85% of the company’s currently issued total share capital.

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

Calculated based on the upper limit of RMB 13 billion, this repurchase plan unveiled by Midea Group is one of the largest repurchase plans in the history of A shares by amount. Previously, Gree Electric disclosed in 2021 a repurchase plan with an upper limit of RMB 15 billion, and Midea Group has also repeatedly rolled out large share repurchase plans.

In its 2025 annual report, Midea Group disclosed that in 2025 the company launched two A-share repurchase plans and also implemented H-share repurchases. 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.

(Editor: Liu Chang )

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