(MENAFN) In a recent announcement made on Monday, Chinese home appliance giant Midea Group disclosed a notable uptick in its revenue for the first quarter of 2024. The company reported a revenue surge of 10 percent year on year, reaching an impressive total of 106.5 billion yuan (equivalent to approximately 14.99 billion U.S. dollars).
Additionally, Midea disclosed that its net profit attributable to shareholders witnessed a noteworthy increase during the January-March period, rising by 12 percent year on year to reach 9 billion yuan.
Amidst evolving market dynamics and competitive pressures, Midea has demonstrated its ability to capitalize on opportunities and deliver strong financial results, affirming its position as a leading player in the global home appliance industry.
Furthermore, Midea has been actively pursuing expansion initiatives in international markets, leveraging its established brand reputation and innovative product offerings to drive growth and capture new opportunities.
The company has been focusing on enhancing its overseas channels and market presence, while also advancing its localized services to better cater to the diverse needs of customers worldwide.
Notably, Midea reported a significant surge in its overseas e-commerce retail sales during the first quarter of 2024, with a remarkable year-on-year increase of approximately 60 percent.
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