Midea Group is a Chinese electrical appliance manufacturer, headquartered in Beijiao town, Shunde District, Foshan, Guangdong and listed on Shenzhen Stock Exchange. As of 2018, the firm employs approximately 135,000 people in China and overseas with 200 subsidiaries and over 60 overseas branches. Midea Group is listed on Shenzhen Stock Exchange since 2013. It has been listed on the Fortune Global 500 since July 2016.
Midea produces lighting, water appliances, floor care, small kitchen appliances, laundry, large cooking appliances, and refrigeration appliances. It also has a long history in producing home and commercial products in heating, ventilation and air conditioning (HVAC). It is the world's largest producer of robots and appliances.
(WOWTIMES) Midea’s history and achievements
- 1968: Mr. He Xiangjian, founder of Midea Group, leads a group of 23 local residents of the town of Beijiao in Guangdong province in raising a total of 5,000 RMB, to establish a bottle lid production workshop.
- 1980: The company begins production of electric fans, marking its entry into household appliance manufacturing.
- 1981: The "Midea" trademark is registered with the company’s first logo.
- 1985: Midea starts to produce residential air conditioners.
- 1990: The company signs an agreement with Toshiba to develop technology for and begin production of split-style air conditioners.
- 1993: Midea further diversifies its product portfolio to include rice cookers and appliance motors through cooperation with several Japanese manufacturers.Also this year, Midea Electric (current name GD Midea Holding, SZSE:000527) is listed on the Shenzhen Stock Exchange.
- 1998: Midea purchases the Macro-Toshiba compressor factory (renamed later to GMCC-Guangdong Midea Toshiba Compressor Corporation), and steps into the air conditioning compressor business.
- 2001: Midea builds its first magnetron factory with the help of acquired assets from Sanyo, thus forming an integrated supply chain for its microwave production. The company also successfully initiates other product lines such as VRFs, water dispensers, and dishwashers.
- 2004: Midea officially set foot into the refrigerator and washing machine businesses.
- 2005: Midea purchases Jiangsu Chunhua Electric Group, a major vacuum cleaner manufacturer in China.
- 2007: Midea establishes Vietnam Industrial Park near Ho Chi Minh City, which marks its first overseas green field manufacturing investment. Midea currently manufactures rice cookers, air conditioners and refrigerators in Vietnam.
- 2010: The company reaches a milestone of annual sales revenue 100 billion RMB (USD14.1 billion).
- 2013: Newly consolidated Midea Group (SZSE 000333) goes public on the Shenzhen Stock Exchange on September 18th.
- 2014: Annual turnover reached an all-time high of US$23 billion, with one third of revenue coming from overseas. In the first half of the year Midea Group launched an E-commerce company and achieved e-commerce sales of nearly USD650 million.
- 2016: Midea made three major acquisitions, the first of which was Toshiba's home appliances business for US$477 million, followed by the even larger purchase of KUKA, the German robotics company. Lastly, acquiring Eureka, the brand that specializes in floorcare, from Electrolux AB in December.
According to Wikipedia; midea