On October 31, Midea Group announced its third quarter earnings report for 2018. The data showed that Midea Group’s third quarter revenue reached 63.1 billion yuan, up 1.01% year-on-year; net profit reached 4.96 billion yuan, up 18.55% year-on-year. .
The report shows that Midea Group achieved operating income of 205.575 billion yuan in the first three quarters, an increase of 10.06% year-on-year; net profit attributable to shareholders of listed companies was 17.90 billion yuan, an increase of 19.35% year-on-year.
In addition, the announcement shows that Midea Group’s total share capital was 6.644 billion shares on August 30, 2018. As of September 30, it has repurchased 39 million shares, and the total share capital of the repurchased shares was 6.605 billion shares.
It is worth mentioning that Gree Electric also announced the third quarter report of 2018 last night. The data shows that Gree’s third quarter revenue this year reached 57.7 billion yuan, a year-on-year increase of 38.46%, and net profit reached 8.3 billion yuan. The increase was 38.35%. In the first three quarters of this year, Gree Electric’s revenue reached 148.7 billion yuan, a year-on-year increase of 34.11%, net profit reached 21.1 billion yuan, an increase of 36.59%, the development of the two giants in the home appliance industry is still steadily rising.