Midea Group (000333) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached ¥131.10 billion, up 2.55% year-over-year, with net profit attributable to shareholders at ¥12.67 billion, a 2.03% increase year-over-year.

• Excluding non-recurring items, net profit declined 14.02% year-over-year, indicating lower core profitability.

• Segment revenues: Building Technology ¥10.8 billion (+10.1%), Robotics & Automation ¥8.2 billion (+11.8%), Industrial Technology ¥6.8 billion (-11.7%).

Financial highlights

• Operating cash flow was ¥14.53 billion, up 1.45% year-over-year.

• Total assets at quarter-end were ¥613.88 billion, up 0.84% from year-end 2025.

• Shareholders’ equity reached ¥232.31 billion, up 4.07% from year-end 2025.

• Basic and diluted EPS were both ¥1.69, up from ¥1.64 and ¥1.63 respectively year-over-year.

• Comprehensive income attributable to shareholders was ¥10.10 billion, down from ¥12.57 billion year-over-year.

Outlook and guidance

• No explicit forward-looking guidance provided, but segment growth in Building Technology and Robotics & Automation suggests continued focus on these areas.