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Investing.com -- Chinese appliance maker Midea reported 11% year-over-year revenue growth in the second quarter of 2025, slightly ahead of market estimates of 10%. The company's operating profit increased by 9% during the period, falling short of the expected 11% growth.
Foreign exchange gains boosted Midea's bottom line, helping net profit rise by 15% compared to the same period last year, exceeding market expectations of 11% growth.
The company's consumer business revenue grew 9.3% in the second quarter, with domestic sales increasing by more than 15% while overseas sales posted low single-digit growth. Business-to-business revenue showed stronger performance with a 16.6% increase.
Midea has raised its full-year outlook, expressing confidence in achieving double-digit revenue growth for 2025, an improvement from its previous guidance of high single-digit to low teens growth. The company also expects net profit growth to exceed revenue growth.
Management anticipates positive sales and profit growth in each quarter of the second half of 2025 despite facing a higher comparison base from the previous year.
Looking further ahead, Midea acknowledged potential uncertainty in 2026 due to the high base being established this year, but projected long-term sales growth in the mid to high single-digit percentage range.
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