美的集团完成中期分红 何享健家族三年半获超200亿

Core Insights - The 2025 Hurun Rich List reveals that the He family of Midea Group (000333) has a wealth of 278 billion yuan, marking an 18% increase [1] - Midea Group recently completed its first interim dividend, distributing 5 yuan per 10 shares, totaling approximately 3.8 billion yuan [1][3] Dividend Distribution - Over the past three years, the He family has received around 20 billion yuan in dividends from Midea Group [2][7] - The He family directly holds 0.42% of Midea Group shares and controls a total of 28.75% through Midea Holdings [2] - The recent interim dividend allows the He family to receive approximately 1.09 billion yuan [3] Historical Dividend Performance - Since its overall listing in 2013, Midea Group has distributed over 134 billion yuan in cash dividends, nearing 140 billion yuan with the latest interim dividend [4] - The company has implemented share buybacks exceeding 33 billion yuan [4] - Midea Group has increased its dividend payout ratio since 2022, with dividends of 25 yuan, 30 yuan, and 35 yuan per 10 shares in 2022, 2023, and 2024 respectively, maintaining a payout ratio around 60% [4] Financial Performance - For the first three quarters of 2025, Midea Group reported revenues of 364.72 billion yuan, a 13.9% year-on-year increase, and a net profit of 37.88 billion yuan, up 19.5% [9] - Midea Group leads in revenue and net profit growth among the three major white goods manufacturers, including Haier and Gree [9] Shareholder Insights - The largest individual shareholder, Chairman Fang Hongbo, holds 1.17 million shares and has received approximately 1.11 billion yuan in cash dividends over the past three and a half years [9] - Midea Group's stock is perceived to be undervalued, prompting share buybacks to enhance shareholder returns [9] Business Segments - Midea Group's B2B segment has a lower gross margin of 21.4%, compared to over 29% for its C2C smart home business [10] - Despite stable growth, Midea Group's valuation is considered the highest among its peers, with a dynamic P/E ratio of about 12 times, compared to Haier's 11 times and Gree's below 8 times [10]