Asia300

Midea Group Co. Ltd.

China

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Mar 24, 2017
Prev close: 34.92
Mar 24, 2017
Market cap:
Market cap(USD):
224,359M
32,571.4M
Shares: 6,424.93M

Currency in CNY

Company profile

Market(Ticker): SHE(000333)
Sector:
Industry:
Consumer Durables
Electronics/Appliances
Full time employees: 93,299

Business summary

Midea Group Co., Ltd. manufactures and sells home and commercial electric appliances. Its business segments include large appliances, water, kitchen, large & small cooking, heating, ventilation, electrical and logistics appliances. Its products include air conditioner, fan, bakery machine, rice cooker, microwave, oven, induction cooker, micro-electric air pot, kettle, vacuum cleaner, humidifier, heater, washing machine, water appliances, floor care, and dehumidifier. The company was founded by He Xiang Jian in 1968 and is headquartered in Foshan, China.

Company background

Chinese home appliance maker Midea Group offers products such as air conditioners, refrigerators, washing machines and microwave ovens. Its main competitor is China's top air conditioner maker, Gree Electric Appliances.

He Xiangjian set up the company with friends in 1968 in the town of Foshan, Guangdong Province, beginning with a small operation producing plastic parts. It built earnings with electric fans and the like, and listed on the Shenzhen Stock Exchange in 1993. In 2012, He stepped down, replaced by current Chairman Fang Hongbo.

At the end of 2014, smartphone maker Xiaomi invested in Midea, taking a 1.288% stake. They plan to deepen their business relationship by combining Midea's home-appliance technology with smartphones to jointly produce, for example, a system to easily operate home appliances using smartphones. Recently, Midea has been building partnerships with other companies, including online retailer Jingdong Group.

In the news

Financial highlights

Dec 2015

  • Local currency
  • US Dollar
Revenue 138,435.79M
Gross profit 35,209.21M
Operating income 12,964.30M
Income before tax 15,630.61M
Net income 12,706.72M
EBITDA 15,816.32M
Diluted EPS 1.99
Dividends per share 0.80
Total assets 128,841.93M
Total liabilities 72,809.81M
Total equity 49,201.85M
Operating cash flow 28,853.15M

Currency in CNY

Revenue 22,025.95M
Gross profit 5,601.99M
Operating income 2,062.69M
Income before tax 2,486.92M
Net income 2,021.71M
EBITDA 2,516.47M
Diluted EPS 0.31
Dividends per share 0.12
Total assets 19,841.37M
Total liabilities 11,212.54M
Total equity 7,576.97M
Operating cash flow 4,590.70M

Currency in USD

Valuation measures

Dec 2015

PER 10.97
ROA 10.20%
ROE 28.65%
Operating margin 9.36%
Profit margin 9.17%

Key executive

  • Chairman & President: Hong Bo Fang
  • Chairman-Supervisory Board: Min Lu
  • Chief Financial Officer: Ming Guang Xiao
  • Director & Vice President: Wen Xin Wu
  • Vice President & Head-Domestic Marketing: Jin Liang Wang

Share holders

  • HE XIANG JIAN(72.3%)
  • CDH Investments Management (Hong Kong) Ltd.(8.7%)
  • China Securities Finance Corp. Ltd.(5.4%)
  • Industrial & Commercial Bank of China Ltd.(5.0%)
  • FANG HONG BO(4.0%)
  • HUANG JIAN /MIDEA/(3.3%)
  • Ningbo Meicheng Equity Investment Partnership LP(3.3%)
  • YUAN LI QUN(2.6%)
  • China Investment Corp. (Investment Management)(2.3%)
  • CAI QI WU(2.2%)

Address

  • Website: http://www.midea.com.cn
  • Address: Midea Headquartere Building, No. 6 Midea Avenue, Foshan, 528311, China
  • Phone: +86.757.2633.8888

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