美的集团耗资95.75亿大手笔回购 业绩稳增首次中期分红派现34.48亿

Core Viewpoint - Midea Group is actively distributing cash dividends and repurchasing shares, marking its first mid-term dividend distribution while achieving significant revenue and profit growth in 2025 [1][2][3]. Dividend Distribution - Midea Group announced a mid-term A-share profit distribution plan for 2025, distributing 5 yuan per 10 shares, totaling 3.448 billion yuan [1][4]. - This is the first mid-term dividend for Midea Group, which has distributed dividends 13 times since its listing, totaling 138.195 billion yuan [2][5]. - The dividend registration date is November 17, with the ex-dividend date and cash dividend payment date set for November 18 [4]. Share Buyback - Midea Group has implemented two share buyback plans, having spent 9.575 billion yuan on repurchases as of October 31, 2025 [3][9]. - The first buyback plan allows for repurchasing shares up to 10 billion yuan, while the second plan allows for up to 3 billion yuan [6][7]. - As of October 31, 2025, the company repurchased approximately 1.1 billion shares under the first plan and 20.564 million shares under the second plan [8][9]. Financial Performance - For the first three quarters of 2025, Midea Group reported revenue of 364.716 billion yuan, a year-on-year increase of 13.85%, and a net profit of 37.883 billion yuan, up 19.51% [3][10]. - The company’s revenue exceeded 110 billion yuan in each of the three quarters, surpassing historical levels [3][10]. - The ToB business revenue grew by 18%, while ToC business revenue increased by 13% [10]. R&D Investment - Midea Group has maintained R&D expenditures exceeding 10 billion yuan annually for six consecutive years, with 12.944 billion yuan spent in the first three quarters of 2025 [10][11]. - The company is expanding its global R&D network and aims to replicate its "local R&D-manufacturing-service" model in overseas markets [11].