Chinese Home Appliances Manufacturers Focusing on Smart Homes

On October 31, Midea, Gree, and Haier Smart Home, which was renamed this year from Qingdao Haier, released their financial reports for the third quarter of 2019.
According to its financial report, the Midea group achieved an operating income of RMB 67.15 billion (US$ 9.5 billion) in the third quarter, up 6.4% year on year; the net profit attributable to shareholders of listed companies was RMB 6.13 billion (US$ 871.6 million), up 23.5% year on year; the operating income in the first three quarters totaled RMB 220.9 billion (US$ 31.4 billion), up 7.4% year on year, and the net profit attributable to shareholders of listed companies in the first three quarters was RMB 21.32 billion (US$ 3.0 billion), up 19.1% year-on-year.