美的集团完成百亿股份回购 业绩高增托底累派现1382亿

Core Viewpoint - Midea Group has successfully completed a significant share buyback program amounting to 10 billion yuan, with plans for further buybacks and a strong commitment to shareholder returns through dividends [1][2][4]. Buyback Program - The buyback program initiated on June 17, 2025, aimed to repurchase shares worth between 5 billion to 10 billion yuan, with a maximum price of 100 yuan per share [2]. - As of December 8, 2025, Midea Group repurchased 135 million shares, representing 1.76% of the total share capital, with a total expenditure of approximately 10 billion yuan, reaching the upper limit of the buyback plan [2][3]. - Over 70% of the repurchased shares will be canceled, reducing the total share capital to approximately 7.596 billion shares [2]. Financial Performance - Midea Group has shown consistent revenue and profit growth since its listing in 2013, with revenue increasing from 121.27 billion yuan in 2013 to 409.08 billion yuan in 2024, and net profit rising from 5.32 billion yuan to 38.54 billion yuan during the same period [4]. - In the first three quarters of 2025, the company reported revenue of 363.06 billion yuan, a year-on-year increase of 13.82%, and a net profit of 37.88 billion yuan, up 19.51% year-on-year [4]. Dividend Policy - Midea Group announced its first interim dividend in 2025, distributing 5 yuan per 10 shares, totaling 3.448 billion yuan, marking a shift from its previous annual dividend model [5]. - Since its listing, the company has distributed a total of 138.195 billion yuan in dividends, with a payout ratio of 46% [5]. Strategic Developments - Midea Group is evolving from a traditional home appliance manufacturer to a global technology group, launching initiatives in energy solutions and robotics [5]. - The company has introduced a comprehensive energy strategy focusing on "energy storage + heat pumps + AI," providing customized energy solutions across various sectors [5]. - Midea's robotics strategy includes AI integration, humanoid robot development, and core component manufacturing [5].