Midea Group
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July 1, 2020
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Midea Group

Revenue:
RMB 261,820 million (2018)
Profit:
RMB 21,650 million (2018)
Employees:
150,000 (2018)
GICS Industry Group:
Headquarters:
Foshan City, Guangdong Province, China
Founded:
1968
Current CEO:
Paul Fang
Parent:
This is the ultimate parent

Description

Midea Group (often referred to as Midea) is a manufacturer of consumer appliances, heating, ventilation, and air conditioning systems (HVAC), robotics and industrial automation systems, and provider of smart supply chain (logistics) solutions. Midea Group's products include  consumer appliances (kitchen appliances, refrigerators, laundry appliances, and various small home appliances), HVAC (residential air-conditioning, commercial air-conditioning, heating & ventilation), and robotics and industrial automation (Kuka Group and Yaskawa joint venture).

Founded in 1968 in Guangdong, China, by He Xiangjian, Midea has over 200 subsidiaries, over 60 international branches and 12 strategic business units. In the year end 31 December 2018, the company employed approximately 150,000 people and generated revenue of RMB261,820 million (Note: RMB can also be displayed as CN¥).

Midea is listed on Shenzhen Stock Exchange (SZSE) under the code 000333.

In Renminbi (RMB - also called CNY) millions
In Renminbi (RMB - also called CNY) millions
In Renminbi (RMB - also called CNY) millions
No items found.

Operating Segments:

Heating, ventilation, and air conditioning - In 1985, Midea entered into the air conditioning sector, launching the production of residential air conditioners (ACs) with commercial ACs beginning production in 1989. Midea's HVAC brands include the flagship brand Midea, as well as Clivet (acquired in 2016) and MDV. As a share of revenue, Midea's HVAC segment is the largest, representing 47.27% of revenue (RMB123,750 million) in 2018 (Financial year end December 31).

Consumer appliances - Midea's consumer appliances segment offers refrigeration, laundry, and large cooking appliances, kitchen appliances, water appliances, vacuum appliances, small domestic appliances, and lighting. Product prices range from mass-market products (low cost) to premium goods (high cost). Under Midea Group’s umbrella the company controls the following consumer appliance brands Toshiba, Midea, Comfee, Eureka, COLMO, Beverly, Vandelo, and Little Swan. Consumer appliances represented 40.52% (RMB106,077 million) of revenue in 2018.

Robotics and automation systems - Midea Group entered in robotic systems and manufacturing automation through the acquisition of German-based KUKA in December 2016. Following the acquisition, Midea has deployed over 800 robots in its own production lines. Midea has entered a strategic partnership with Servotronix to advance the company's strategy to modernise the industry of home appliances and air treatment. The robotics and automation systems segment represented 9.84% (RMB25,767 million) of revenue in 2018.

Mergers and Acquisitions:

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