Stockcode: 000333 Stock name:MideaGroup AnnouncementNo.: 2024-028
Midea Group Co., Ltd.
Interim Report for the First Quarter 2024
Midea Group Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the
Company’s Board of Directors have warranted that the information given in this Report is true, accurate
and complete, as well as free of any false record,misleading statementor material omission.
Important Reminders:
1. The Board of Directors, the Supervisory Committee as well as all the directors, supervisors and
senior management staff of the Company have warranted that this Report contains no false record,
misleading statement or material omission. And they shall be jointly and severally liable for the
truthfulness,accuracyandcompletenessof the information given in this Report.
2. The legal representative, principal in charge of accounting and head of the accounting department
of the Company have represented and warranted that the financial information in this Report is true,
accurateand complete.
3. Is this Reportaudited by a CPAfirm
□ Yes √ No
This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandingsbetweenthetwo versions,the Chineseversionshall prevail.
1. Key financial information
1.1 Major accountingdataand financialindicators
Does the Company adjustretrospectivelyorrestate accountingdataof previousyears
□ Yes √ No
Jan.-Mar. 2024 Jan.-Mar. 2023 YoY Change (%)
Operating revenue (RMB'000) 106,101,612 96,262,922 10.22%
Net profit attributable to shareholders of the 9,000,007 8,041,853 11.91%
Company (RMB'000)
Net profit attributable to shareholders of the
Company before non-recurring gains and 9,236,971 7,672,681 20.39%
losses (RMB'000)
Net cash flows from operating activities 13,928,908 9,272,312 50.22%
(RMB'000)
Basic earnings per share (RMB/share) 1.31 1.18 11.02%
Diluted earnings per share (RMB/share) 1.31 1.18 11.02%
Weighted average ROE (%) 5.37% 5.46% -0.09%
31 Mar. 2024 31 Dec. 2023 Change (%)
Total assets (RMB'000) 497,968,468 486,038,184 2.45%
Net assets attributable to shareholders of 172,498,707 162,878,825 5.91%
the Company (RMB'000)
During the Reporting Period, the Company’s Intelligent Building Technology, Energy Solutions &
Industrial Technology, and Robotics & Automation recorded respective revenue of RMB8.2 billion (up
6% year on year), RMB7.7 billion (up 23% year on year), and RMB6.7 billion (down 12% year on
year).
Intelligent Building Technology reported a slowdown in revenue growth during the Reporting Period
mainly due to changes in subsidy policies for heat pumps in some countries and the decline in natural
gas prices in Europe. Exclusive of heat pumps, the other product categories of Intelligent Building
Technologycombinedsaw a year-on-yeargrowthof28% in revenue.
Robotics & Automation reported a year-on-year decline in revenue during the Reporting Period mainly
due to the temporary suspension of production ramp-up plans by domestic automakers and the
product strategy adjustments by overseas automakers; at the same time, the logistics automation
business was driven by strong offline consumption overseas, achieving over 9% growth in the
ReportingPeriod.
Total share capital of the Company on the last trading 6,974,420,601
session before disclosure (share)
Fully diluted earnings per share based on the latest share 1.29
capital above (RMB/share)
1.2 Non-recurringgainsandlosses
√ Applicable □ N/A
Unit: RMB’000
Item Jan.-Mar. 2024 Note
Gains and losses on disposal of non-current assets 7,249
Except for effectively hedging business related to normal
business operations of the Company, gains and losses
arising from the change in the fair value of financial assets
held for trading, derivative financial assets, financial -381,518
liabilities held for trading, derivative financial liabilities and
other non-current financial assets, as well as investment
gains and losses produced from the disposa