Midea Group recently published its financial report for the first half of 2020, stating that its total operating revenue was CNY139.7 billion, a year-on-year decrease of 9.47%; and its net profit attributable to parent company was CNY13.9 billion, a year-on-year decrease of 8.29%.
Meanwhile, the group's sales scale reached over CNY43 billion during the reporting period, representing a year-on-year increase of over 30%.
According to the financial report, the market share of Midea's main home appliance categories increased to varying degrees in the Chinese market during the first half of 2020. Its air-conditioning products saw a significant increase in all channels, with an online market share of over 35% and an offline market share of over 30%.
In addition, Midea applied 6,164 patents worldwide and gained 1,649 invention patent licenses during the reporting period. By June 2020, the group's accumulated patent applications exceeded 147,000.
As of July 31, 2020, the company has implemented repurchase of nearly CNY4 billion since 2019.