--- title: "A massive 44 billion dividend payout! Midea Group, where does its confidence come from?" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/39685838.md" description: "The 580-billion-yuan white goods leader Midea Group has delivered a satisfactory annual "report card." On the evening of March 30, Midea Group released its 2025 annual financial report. The data shows that during the reporting period, the company achieved total revenue of 458.502 billion yuan, a year-on-year increase of 12.08%; net profit reached 43.945 billion yuan, up 14.03% year-on-year; and non-GAAP net profit was 41.267 billion yuan, rising 15.46% year-on-year. Notably, both the revenue and net profit figures in Midea's latest report have hit record highs. Faced with this impressive performance..." datetime: "2026-04-02T01:47:01.000Z" locales: - [en](https://longbridge.com/en/topics/39685838.md) - [zh-CN](https://longbridge.com/zh-CN/topics/39685838.md) - [zh-HK](https://longbridge.com/zh-HK/topics/39685838.md) author: "[侃见财经](https://longbridge.com/en/profiles/3206955.md)" --- # A massive 44 billion dividend payout! Midea Group, where does its confidence come from? Midea Group, the 580-billion-yuan white goods giant, has delivered a satisfactory annual "report card". On the evening of March 30, Midea Group released its 2025 annual financial report. The data shows that during the reporting period, the company achieved total revenue of 458.502 billion yuan, a year-on-year increase of 12.08%; net profit reached 43.945 billion yuan, a year-on-year increase of 14.03%; non-GAAP net profit was 41.267 billion yuan, up 15.46% year-on-year. Notably, both the revenue and net profit figures in Midea's latest report hit record highs. Faced with this impressive performance, Midea has also been generous with dividends. According to the company's announcement, the 2025 profit distribution plan is a cash dividend of 4.3 yuan per 10 shares (tax inclusive). Among this, the mid-2025 profit distribution plan of 0.5 yuan per 10 shares (tax inclusive) has already been implemented. The year-end 2025 profit distribution plan is a cash dividend of 3.8 yuan per 10 shares (tax inclusive). Calculations show that Midea's total annual cash dividend payout amounts to 32.4 billion yuan. Combined with the cumulative share repurchase amount of 11.6 billion yuan in 2025, the total of these two items reaches 44 billion yuan. This also means that Midea used its entire annual net profit for cash dividends. Through equity penetration calculations, the actual controller of Midea Group, He Xiangjian, holds a total of 27.41% of the shares. Based on this shareholding ratio, the He Xiangjian family could receive approximately 8.88 billion yuan in cash dividends (tax inclusive) in 2025. **According to relevant statistics, Midea Group's cumulative dividend payout over the past decade has exceeded 150 billion yuan.** In addition, Midea Group simultaneously announced that the company plans to repurchase A-shares through centralized bidding, with a repurchase amount of no less than 6.5 billion yuan and no more than 13 billion yuan, at a repurchase price not exceeding 100 yuan per share. So, will such a large-scale combination of dividends and repurchases affect the company's daily operations? In terms of business segments, Midea's main businesses cover six segments: Smart Home, Building Technologies, Robotics & Automation, Industrial Technology, and other businesses. Among these, the Smart Home business is the core pillar of the company's revenue, generating 299.927 billion yuan in 2025, accounting for 65.41% of total revenue. The revenue scale of the other major segments is relatively balanced. Euromonitor International research data shows that Midea Group ranked first in global smart home appliance sales in 2025. The annual report data reveals that Midea's localized self-operated business has covered 50 major countries worldwide, with 29 R&D centers and 43 major manufacturing bases overseas. Its own brand ranks first in market share in 32 segmented product categories in core markets such as Amazon North America, Europe, and Japan. In terms of revenue distribution by region, Midea's domestic business revenue in 2025 was 260.504 billion yuan, accounting for 56.82% of total revenue; overseas business revenue was 195.948 billion yuan, accounting for 42.74% of total revenue. In terms of cash flow, Midea's net operating cash flow in 2025 reached 53.3 billion yuan; as of the end of 2025, the company's ending cash and cash equivalents balance was 68.509 billion yuan. This is also the core confidence behind Midea's decision to use its entire annual net profit for dividends. Regarding R&D investment, Midea's total R&D investment in 2025 reached 17.8 billion yuan, a year-on-year increase of 9.6%; over the next three years, the company plans to invest over 60 billion yuan, focusing on cutting-edge scientific research. Data shows that by the end of 2025, Midea had established an AI professional R&D team of over 400 people, with employees independently building 13,500 intelligent agents. Through intelligent transformation, efficiency was improved by over 15 million hours annually, and costs were reduced by 700 million yuan. Midea Group stated that the company is accelerating its transformation into an "AI+" global technology group. Currently, Midea's entire product portfolio includes 500 million appliances with networking capabilities. Globally, over 140 million smart appliances are connected, over 150 million smart users are connected, and AI integration has been completed for over 150 appliance categories. After the earnings release, China Galaxy Securities issued a research report pointing out that under severe external market pressures, Midea achieved high double-digit growth in both revenue and profit while maintaining stable operating indicators, fully demonstrating the company's core competitiveness. It also reflects the strong driving role of the ToB business as the company's second growth curve, therefore maintaining a "Recommended" rating for Midea Group. Huachuang Securities issued a research report stating that driven by the stable development of the C-end business, accelerated growth of the B-end business, and continuous upgrades in brand and channels, Midea's revenue and profit growth have strong certainty. First, the company's OBM business continues to grow rapidly, laying a solid foundation for subsequent ToC business growth. Second, the Building Technologies segment, new energy and commercial & industrial energy storage business, coupled with the volume growth of the Robotics & Automation business, are expected to become the core increment of the ToB business. Third, the company continues to promote cost reduction and efficiency improvement across the entire value chain, and profitability is expected to be continuously optimized and enhanced. In addition, the company places high importance on shareholder returns and market value management. The 2025 dividend payout ratio exceeded 73%. If combined with the repurchase amount, the total exceeds the full-year net profit. Furthermore, the company still plans to implement a 6.5 to 13 billion yuan repurchase in 2026, highlighting its significant advantage in shareholder returns. The report maintains a "Strongly Recommend" rating. Kanjian Finance believes that as a global leader in the home appliance industry, Midea's ability to maintain double-digit growth in performance is sufficient proof of the health of its business system. Although the overall home appliance industry currently faces certain growth pressures, the rapid growth of the company's other business segments is enough to offset the impact of the slowdown in the traditional home appliance segment. In the long run, after Midea deepens the AI integration of its home appliance products, valuing it according to traditional manufacturing standards is clearly no longer in line with the company's actual development. There is a possibility that the company's current valuation is underestimated.$MIDEA GROUP(00300.HK) ### Related Stocks - [000333.CN](https://longbridge.com/en/quote/000333.CN.md) - [00300.HK](https://longbridge.com/en/quote/00300.HK.md)