Midea stock: Q3 profit jumps as revenue slips 4.12%

Midea reported mixed third-quarter results on Thursday, October 29, 2026, with revenue declining while reported profit increased sharply. The figures, summarized by TipRanks, point to a widening gap between headline earnings and underlying operating momentum.

Revenue falls as profit rises

Operating revenue reached RMB 107.3 billion in the third quarter, 4.12% below the year-earlier period. Attributable net profit nevertheless rose 25.93% to RMB 14.95 billion. TipRanks said non-recurring gains from derivative instruments supported the reported profit increase.

Morningstar attributed the revenue decline partly to weak domestic home appliance sales. It said growth in building technology and robotics offset some of that pressure, while the operating margin improved to 12.7% from 12.4% a year earlier through marketing and research cost optimization.

Industrial mix remains uneven

The segment picture was mixed. Building technology revenue increased 10% year on year to RMB 30.9 billion, while robotics and automation also grew 10% to RMB 24.9 billion. Industrial technology revenue fell 13% to RMB 18.3 billion, showing that the group's expansion businesses are not moving in lockstep.

For the first nine months, revenue edged up 1.19% to RMB 367.4 billion and attributable profit increased 9.27%. Operating cash flow fell 29.58% to RMB 40.19 billion, according to TipRanks. The combination of higher reported earnings and weaker cash generation gives investors an important quality check on the result.

Underlying profit needs attention

TipRanks reported that core profit before non-recurring items fell as foreign-exchange losses weighed on the period. That distinction matters for investors: the headline profit increase does not by itself demonstrate a comparable improvement in recurring operations.

The real-time quote of Midea stock was EUR 11.03 at Lang & Schwarz on Friday, October 30, 2026, at 9:13 a.m. Berlin time.

China's broader equity market can be followed through the Shanghai Composite market overview.

Further earnings updates and analysis are available in more news and analyses on Midea stock.