Midea's revenue in 2025 reaches 456.5 billion yuan: surpassed by Xiaomi, with smart home business revenue of 300 billion yuan

Ask AI · How can innovative businesses like Xiaomi Auto help drive Midea’s revenue to surpass Midea?

Lei Di Network Lei Jianping March 31

Midea Group Co., Ltd. (Stock code: 000333, stock abbreviation: Midea Group) yesterday released its financial report for the period ended December 31, 2025. The report shows that in 2025, Midea Group’s revenue was RMB 456.45B, up 12% from RMB 407.15 billion in the same period last year;

Midea Group’s 2025 net profit was RMB 43.95B, up 14% from RMB 38.54B in the same period last year; net profit after deducting non-recurring items was RMB 41.27B, up 15.46% from RMB 35.74B in the same period last year.

Midea Group’s revenue in the fourth quarter of 2025 was RMB 93.4 billion, net profit was RMB 6.06B, and net profit after deducting non-recurring items was RMB 4.13B.

Xiaomi Group’s 2025 revenue was RMB 457.3 billion, up 25% from RMB 365.9 billion in the same period last year. Of this, revenue in the fourth quarter of 2025 was RMB 116.9 billion, up 7.3% from RMB 109.0 billion in the same period last year; operating profit was RMB 6.23B, profit during the period was RMB 6.54B, and adjusted net profit was RMB 6.35B.

This means that driven by the rapid development of innovative businesses such as Xiaomi Auto, Xiaomi has surpassed Midea Group in both annual and quarterly revenue in 2025.

Midea Group’s 2025 profit distribution plan is: distribute RMB 43 in cash for every 10 shares (including tax). The interim profit distribution plan of distributing RMB 5 in cash for every 10 shares (including tax) for 2025 has been fully implemented.

The company’s profit distribution plan for the end of 2025 is to distribute RMB 38 in cash for every 10 shares (including tax), and not to increase share capital by converting capital reserve into share capital.

Midea 2025 smart home business revenue: RMB 300 billion

Midea is a technology group covering smart home, industrial technology, building technology, robotics and automation, new energy, health and medical care, smart logistics, and other areas. It has built a business matrix with both ToC and ToB development. It can provide consumers with various smart home products and services, and can also provide enterprise customers with diversified commercial and industrial solutions.

Midea’s smart home business mainly covers smart appliances, smart homes, and related industries and ecosystem supply chains. It focuses on building intelligent scenarios for end users, conducting user operations, and uncovering data value, aiming to provide end users with the best-experience whole-home smart home products and services. Midea’s industrial technology business focuses on heating, ventilation and air-conditioning (HVAC) appliances, new energy vehicles, and core components for robotics. It has brands such as Midea-ZhiMi, VELING, and AMERIN. Its products cover compressors, motors, chips, valves/pumps, new energy vehicle components, robotic components, and more. It is committed to providing customers with green, efficient, and intelligent product and technology solutions using leading technology, quality, and service.

Midea’s building technology business is centered on the iBUILDING smart building digital service platform. Its business covers HVAC, elevators, energy, building control, and more. Products include multi-connected air conditioner unit systems, large chilled water chillers, unit machines, machine-room air conditioners, escalators, elevators, freight elevators, and building automation control software and building low-voltage integration solutions, using “building equipment and facilities + digital technology + industrial ecosystem layout”.

Midea’s robotics and automation business focuses on providing intelligent and efficient automation solutions that can be applied across multiple industries, including automobiles (including electric vehicles and batteries), electronics, metal, plastics, consumer goods, food, e-commerce, retail, and healthcare. Its products cover industrial robots, autonomous mobile robots, and more, including system integration, robots, Rischger logistics, Rischger medical, and other business segments within its digital divisions.

Midea’s new energy business focuses on the full-chain energy ecosystem of “source, grid, load, storage, and heat,” providing customers with low-carbon, high-efficiency, and intelligent full-chain energy solutions. Under the group, Kangcong New Energy focuses on green energy solutions, household energy storage and photovoltaic inverters, and high-voltage frequency converters as its three main businesses; while KELU Electronic focuses on the two major segments of smart grids and new electrochemical energy storage.

Midea’s medical business includes Wandong Medical, which is committed in the health and medical care field to medical imaging technology innovation and provides high-quality medical imaging products and services to clinical settings; and Carestream Health, Inc.’s selected business assets outside the United States of the company’s acquired Rigidco Medical (Carestream Health, Inc.) in December 2025, to promote the internationalization and expansion of Midea’s medical business and to develop high-end markets.

In Midea’s smart logistics sector, Aide Zhilian is an integrated supply-chain logistics solutions provider. It combines end-to-end logistics capabilities with three core solutions: “production logistics,” “one-fleet warehousing and unified allocation for an entire assortment,” and “last-mile delivery and installation as one.” It continues to work to provide customers with end-to-end integrated, digital and intelligent supply-chain solutions.

Midea’s 2025 smart home business revenue was RMB 300 billion, up 11.28% year over year; building technology revenue was RMB 35.8 billion, up 25.72% year over year;

Midea’s 2025 robotics and automation revenue was RMB 31 billion, up 8% year over year; industrial technology revenue was RMB 27.2 billion, up 10.24% year over year; other innovative business revenue was RMB 28.7 billion, up 27% year over year.

In 2025, Midea’s e-commerce sales in the domestic market (including e-commerce channel penetration downward) reached more than 55% of its domestic sales revenue within the smart home business. Among them, in down-tier markets, the retail scale of Midea-branded products surpassed RMB 30 billion.

He Xiangjian controls 28.97% of equity

As of December 31, 2025, Midea Holdings held 28.55%, Hong Kong Securities Clearing Company Limited held 12.98%, HKSCC NOMINEES LIMITED held 8.57%, China Securities Finance Co., Ltd. held 2.61%, Fang Hongbo held 1.54%, Central Huijin Asset Management Co., Ltd. held 1.16%, and Huang Jian held 1.13%;

As of December 31, 2025, Midea’s equity structure

Industrial and Commercial Bank of China Limited—Huatai-PineBridge CSI 300 Exchange-Traded Open-Ended Index Securities Investment Fund held 1.07%, China Construction Bank Corporation—E Fund CSI 300 Exchange-Traded Open-Ended Index Fund (with sponsor) held 0.76%, and Li Jianwei held 0.6%.

He Xiangjian directly holds 0.42%, holding 94.55% of Midea Holdings’ equity, and altogether controls 28.97% of the company’s equity.

As of September 30, 2025, Midea Holdings held 28.23%, Hong Kong Securities Clearing Company Limited held 12.83%, HKSCC NOMINEES LIMITED held 8.47%, China Securities Finance Co., Ltd. held 2.58%, Fang Hongbo held 1.52%, Central Huijin Asset Management Co., Ltd. held 1.15%, and Huang Jian held 1.12%;

As of September 30, 2025, Midea’s equity structure

Industrial and Commercial Bank of China Limited—Huatai-PineBridge CSI 300 Exchange-Traded Open-Ended Index Securities Investment Fund held 1.09%, China Construction Bank Corporation—E Fund CSI 300 Exchange-Traded Open-Ended Index Fund (with sponsor) held 0.79%, and Li Jianwei held 0.59%.

Overall, in the fourth quarter of 2025, there were no major changes in the equity structure of Midea Group.

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