Photo taken on April 1, 2021 shows a workshop of a microwave oven factory of Midea Group, a Chinese home appliance giant, in Foshan City, south China's Guangdong Province. (Xinhua/Li Jiale)
BEIJING, Aug. 31 (Xinhua) -- Midea Group Co.,ltd. (000333.SZ), China's leading home appliance manufacturer, reported 15.03 billion yuan of net profit in the first half of 2021, representing a year-on-year growth of 7.76 percent.
Its operating revenue reached 173.81 billion yuan, increasing by 24.98 percent year on year, with overall business performance in line with expectations despite uncertainties such as rising prices of raw materials and Covid-19 rebound, according to the company's interim report on Monday.
As of June 30, Midea Group had 123 billion yuan in cash and 20.2 billion yuan of operating cash flow, the interim results show.
The company has been gaining the market share this year, with its major product air conditioning ranking first in both online and offline market share accounting for 37.6 percent and 36.5 percent respectively.
Midea Group has achieved good results in businesses including heating, ventilating and air conditioning (HVAC) achieving sales of 76.4 billion yuan, up 19.3 percent year on year and consumer appliances revenue reaching 65 billion yuan, up 22.5 percent year on year.
(Edited by Tian Shenyoujia with Xinhua Silk Road, tianshenyoga0524@163.com)
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