Group 1 - The core viewpoint of the article highlights that Changhong Meiling is actively engaging with market demands through its domestic air conditioning business, primarily operated by its subsidiary Sichuan Changhong Air Conditioning Co., Ltd [2] - The company implements a business strategy focused on "product first, brand priority, channel co-construction, and direct user access," indicating a customer-centric approach to capitalize on market opportunities [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 Midea Group Co., Ltd. 美的集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：0300） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而做出。 茲載列美的集團股份有限公司於深圳證券交易所網站(www.szse.cn)刊登的公告如 下，僅供參閱。 承董事會命 美的集團股份有限公司 董事長、執行董事兼總裁 方洪波先生 香港，2025年8月29日 於本公告日期，董事會成員包括(i)執行董事方洪波先生、王建國先生、顧炎民博 士、管金偉先生及張添博士，(ii)非執行董事趙軍先生，及(iii)獨立非執行董事許 定波博士、肖耿博士、劉俏博士及邱鋰力博士。 美的集团股份有限公司 2025 年半年度报告摘要 证券代码：000333 证券简称：美的集团 公告编号：2025-068 美的集团股份有限公司 2025 年半年度报告摘要 一、重要提示 1、本 ...

Core Viewpoint - Changhong Meiling Co., Ltd. is actively engaging with institutional investors to discuss its operational performance and market strategies for the second half of 2025, amidst a competitive home appliance market [1] Group 1: 2025 First Half Operational Performance - The company adopted a strategy of "innovation-driven, resource integration, industrial synergy, and internal-external integration" to navigate market challenges [2] - Refrigerator business generated approximately 4.415 billion yuan, a year-on-year decrease of 4.17% [2] - Air conditioning business achieved revenue of about 11.575 billion yuan, a year-on-year increase of 36.18% [2] - Washing machine business reported revenue of around 1.04 billion yuan, up 32.70% year-on-year [2] - Kitchen and small appliances generated approximately 699 million yuan, a decline of 6.14% [2] - Biomedical business reached about 149 million yuan, an increase of 3.89% year-on-year [2] Group 2: Overseas Revenue and Market Strategies - The company's overseas revenue for the first half of 2025 was approximately 6.367 billion yuan, reflecting a year-on-year growth of 32.17% [3] - Domestic air conditioning strategy focuses on optimizing sales rhythm and enhancing product development driven by user needs [3] - Overseas air conditioning strategy includes expanding into Latin America, the Middle East, and Europe while deepening relationships with major clients [3] - Domestic refrigerator strategy emphasizes marketing transformation and user-centric operations [3] - Overseas refrigerator strategy aims to reshape product platforms and enhance brand presence in emerging markets [3]

Core Viewpoint - Midea Group achieved significant growth in Q1 2025, with revenue exceeding 120 billion yuan and a year-on-year growth rate of over 20%, while net profit increased nearly 40% [1][4]. Group 1: Financial Performance - In Q1 2025, Midea Group's total revenue reached 128.4 billion yuan, with a net profit of 12.42 billion yuan, reflecting year-on-year growth rates of 20.6% and 38.0% respectively [4]. - The growth in revenue and net profit has been consistent over the years, indicating a strong and sustainable performance [1]. Group 2: Business Segments - Both C-end (consumer) and B-end (business) segments contributed to revenue growth, with C-end smart home business growing by 17.4% and B-end solutions growing by 25.3% [5]. - The B-end business has become a significant revenue driver, with a total revenue exceeding 100 billion yuan in recent years [13]. Group 3: Strategic Initiatives - Midea Group is focusing on simplifying operations to enhance growth, aiming to eliminate non-value-adding activities [7]. - The company is transforming its Direct-to-Consumer (DTC) model to improve user engagement and operational efficiency [8]. Group 4: Global Expansion - Midea Group has been actively pursuing acquisitions to expand its global footprint, including notable acquisitions in Europe and China [9][12]. - The overseas OBM (Own Brand Manufacturing) business has shown strong growth, accounting for 43% of the smart home business's overseas revenue in Q1 2025 [9]. Group 5: High-End Market Strategy - Midea Group is penetrating the high-end market with its COLMO and Toshiba brands, achieving over 55% year-on-year growth in retail sales for these brands in Q1 2025 [13]. - The company has made adjustments to its high-end brand strategy, including reducing the number of retail outlets to enhance brand positioning [13]. Group 6: Challenges and Opportunities - Despite the growth, Midea Group acknowledges that there is still significant room for improvement in its B-end business segments [14]. - The company anticipates a recovery in its robotics and automation business, which faced challenges in recent years due to cyclical impacts from the automotive industry [14].