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Midea Invests 1.6B Yuan in Hiconics as New Energy Targets Accelerate

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Midea injects additional 1.6 billion yuan into Hiconics as appliance makers push further into new energy. Hiconics’ Q1 results show revenue of 1.679 billion yuan, down 25.05% year on year, and a net shareholder loss of 11.5742 million yuan. Midea aims for 50 billion yuan in new energy revenue within five years, building on its 2020 control of Hiconics, including new localization R&D work tied to reactor projects launched in July 2026.

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