Midea Group, a leading Chinese home appliance manufacturer, reported a year-on-year increase of 19.68 percent in its net profit in 2019.

Net profit attributable to the company’s shareholders stood at 24.2 billion yuan (about 3.43 billion U.S. dollars), Midea Group announced in its annual report.

Its total operating revenue rose 6.71 percent year on year to 279.4 billion yuan