Midea Reports Higher Half-Year Profit with Currency-Accounting Effects

Midea reported modest growth in revenue and attributable profit for the first half of 2026, alongside a sharp decline in profit excluding non-recurring items. Its half-year filing recorded operating revenue of CNY 260.04 billion, up 3.55%, and attributable net profit of CNY 26.45 billion, up 1.66%.

Profit excluding non-recurring items fell 25.31% to CNY 19.60 billion. The company explained that the different treatment of currency-related items affected the comparison. Foreign-exchange losses on monetary balances entered recurring results, while gains on derivatives used to manage currency exposure were classified as non-recurring.

That accounting distinction matters because the derivative gains and monetary-item losses sit on different sides of the adjusted-profit calculation. Reading the adjusted decline alone would omit part of the currency-management result included in reported profit. It would also confuse an earnings classification with a direct measure of appliance demand.

The board proposed an interim cash dividend of CNY 0.50 per share, excluding shares held in its repurchase account from the distribution base. The financial results cover Midea's consolidated operations during January–June 2026. They offer a group-wide view of trading and currency exposure, rather than a standalone performance measure for cleaning appliances.