2021-08-30-深交所-美的集团_2021年半年度报告（英文版）_256页_2mb

Midea Group Co., Ltd. 2021 Semi-Annual Report Summary

Core Content Overview

This document is the Semi-Annual Report of Midea Group Co., Ltd. for the period from 1 January 2021 to 30 June 2021. It provides an overview of the company's financial performance, strategic direction, business operations, and its position in the home appliance and robotics industries.

Key Financial Highlights

• Operating Revenue: RMB173,809,565 thousand in H1 2021, up 24.98% from H1 2020.
• Net Profit (Shareholders): RMB15,009,046 thousand in H1 2021, up 7.76% from H1 2020.
• Net Profit (Before Non-recurring): RMB14,636,511 thousand in H1 2021, up 8.76% from H1 2020.
• Net Cash Flows from Operating Activities: RMB20,176,410 thousand in H1 2021, up 9.62% from H1 2020.
• Basic Earnings per Share: RMB2.17 in H1 2021, up 7.96% from H1 2020.
• Diluted Earnings per Share: RMB2.16 in H1 2021, up 7.46% from H1 2020.
• Weighted Average ROE: 12.63% in H1 2021, down 0.40% from 13.03% in H1 2020.
• Total Assets: RMB380,211,202 thousand as of 30 June 2021, up 5.50% from 31 December 2020.
• Net Assets (Shareholders): RMB113,240,409 thousand as of 30 June 2021, down 3.64% from 31 December 2020.

Company Profile

• Stock Abbreviation: Midea Group
• Stock Code: 000333
• Stock Exchange: Shenzhen Stock Exchange
• Company Name in Chinese: 美的集团股份有限公司
• Company Name in English: Midea Group Co., Ltd.
• Legal Representative: Fang Hongbo
• Company Headquarters: Midea Headquarters Building, No. 6 Midea Avenue, Beijiao Town, Shunde District, Foshan City, Guangdong Province, China
• Contact Information:
  • Company Secretary: Jiang Peng
  • Representative for Securities Affairs: You Mingyang
  • Phone: 0757-22607708 (Company Secretary), 0757-23274957 (Securities Affairs)
  • Fax: 0757-26605456
  • Email: IR@midea.com

Business Scope

Midea Group operates as a global technology group with five major business divisions:

1. Smart Home Business Group: Focuses on smart appliances, home automation, and intelligent scenarios.
2. Electromechanical Business Group: Specializes in high-precision components such as compressors, motors, and chips.
3. HVAC & Building Technologies Division: Provides energy, HVAC, elevator, and control solutions for buildings.
4. Robotics & Automation Division: Offers industrial robotics, logistics systems, and automation solutions.
5. Digital Innovation Business: Encompasses intelligent supply chains, Industrial Internet, and includes WDM (Beijing Wandong Medical Technology Co., Ltd.) for medical imaging devices.

Position in Home Appliance Industry

• Forbes Global 2000: Ranked No. 183, up 46 places from last year.
• Fortune Global 500: Ranked No. 288, up 19 places from the previous year.
• Brand Finance Tech 100: Ranked No. 33, up from the previous year.
• BrandZ™ Top 100 Most Valuable Chinese Brands: Ranked No. 33, with a 26% increase in brand value.

Midea leads in several key home appliance categories:

Offline Market Shares (2021 H1)

Online Market Shares (2021 H1)

Industry Overview

Home Appliance Industry

• Domestic Retail Sales: RMB380.53 billion in H1 2021, up 13.1% year-on-year.
• Exports: RMB308.81 billion in H1 2021, up 35.8% year-on-year.
• Trends:
  • Cross-border development with home decoration and furnishing.
  • Vertical product diversification and innovation.
  • Emphasis on user experience, safety, and wellness.
• Key Products:
  • Air Conditioners: Market share of self-cleaning models reached 91% offline.
  • Laundry Appliances: Front-loading models gained 66.2% online and 81.5% offline.
  • Refrigerators: Multi-door models dominated offline market (over 60% of sales).
  • Kitchen Appliances: High-end products saw significant growth, with integrated stoves up 55.8% in sales.
  • Small Domestic Appliances: Online sales accounted for 73.1% of total sales, with vacuum cleaners up 16.2% and robot cleaners up 1336.1%.

Robotics and Industrial Automation Industry

• Industrial Robotics Shipments: 132,320 units in China in H1 2021, up 83.3% year-on-year.
• Drivers: Pandemic-driven demand, continued overseas manufacturing orders, and increased investment in automation.
• Applications: Expanding into lithium, photovoltaic, and general industries, as well as non-industrial sectors like education, retail, and healthcare.

Strategic Focus

Midea's strategic focus in 2020 was updated to include "Technology Leadership, Direct to Users, Digitization & Intelligence Driven, and Global Impact." The company aims to integrate global resources and drive innovation to create better life experiences for over 400 million users worldwide.

Corporate Governance and Environmental Responsibility

• The report includes sections on corporate governance and environmental and social responsibility, though specific details are not outlined in the summary.
• The company maintains a global presence with approximately 200 subsidiaries, 28 R&D centers, and 32 manufacturing bases.
• Midea holds a 95% stake in KUKA, a leading German robotics company.

Dividend Policy

The company has no plans to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the reporting period.

Non-recurring Profits and Losses

• No non-recurring profits or losses were reported for the reporting period.

Accounting Standards

• No differences in accounting data were noted between China Accounting Standards (CAS) and International Financial Reporting Standards (IFRS) for the reporting period.

Document Availability

• The report is available in both Chinese and English.
• It can be accessed through the official website (http://www.cninfo.com.cn) and public newspapers designated for information disclosure.