Midea Group(000333) 智通财经网·2025-03-28 15:10Core Viewpoint - Midea Group reported a strong performance for the fiscal year 2024, with significant revenue growth and a robust shareholder return plan, highlighting its operational resilience and global expansion success [1][2]. Financial Performance - Midea Group achieved a total revenue of 409.1 billion RMB, representing a year-on-year increase of 9.5% [1]. - The net profit attributable to the parent company rose by 14.3% to 38.5 billion RMB, with operating cash flow reaching a historical high of 60.5 billion RMB [1]. Shareholder Returns - The company announced a dividend of 3.5 RMB per share, totaling 26.7 billion RMB, which is a 28.5% increase year-on-year, with a payout ratio nearing 70% [2]. - Midea plans to repurchase shares worth 5 to 10 billion RMB, with 70% of the repurchased shares to be canceled, indicating a commitment to returning profits to shareholders [2]. Research and Development - In 2024, Midea's R&D expenditure exceeded 16 billion RMB, with a total investment surpassing 100 billion RMB over the past decade [3]. - The company added 11,000 global authorized patents in the year, including 5,000 invention patents, and led or revised 230 industry technical standards [3]. International Strategy - Midea became the top global brand in smart home appliance sales in 2024, with its smart home business revenue reaching 269.5 billion RMB [4]. - The overseas business contributed over 40% to the total revenue, with self-owned brand (OBM) revenue accounting for more than 43% of the smart home overseas business [4]. B2B Business Growth - Midea's enterprise segment (ToB) revenue surpassed 100 billion RMB for the first time, making up 25.5% of total revenue [5]. - The company maintained the leading global market share in household air conditioning compressors and achieved significant sales in domestic central air conditioning [5].