Chinese home appliance leader Midea Group posted a 9% rise in third-quarter net profit, reaching 11.9 billion yuan (€1.44 billion), while revenue climbed 10% year-on-year to 111.9 billion yuan (€13.6 billion). Although still positive, the pace of growth slowed compared to the previous quarter.

For the first nine months of the year, Midea reported a robust net profit of 37.9 billion yuan (€4.6 billion), up 20% from the same period last year. Revenue rose 14% to 363.1 billion yuan (€44 billion). The Foshan-based company had previously recorded even stronger gains in the first half, with net profit surging 25% and revenue growing 16%