Consumer
Midea Reports Strong Revenue Despite Facing US Tariff Risks
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Midea Group Co. saw strong revenue and profit growth in the first quarter, as it benefited from Chinese subsidies for home appliance purchases despite facing US tariff risks.
Net income rose 38% from a year ago to 12.4 billion yuan ($1.7 billion), beating analysts’ estimate of 10.8 billion yuan. Sales increased 20% on year to 127.8 billion yuan.