|Mar 24, 2017|
|Mar 24, 2017|
Currency in CNY
|Full time employees:||93,299|
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.
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.
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- Local currency
- US Dollar
|Income before tax||15,630.61M|
|Dividends per share||0.80|
|Operating cash flow||28,853.15M|
Currency in CNY
|Income before tax||2,486.92M|
|Dividends per share||0.12|
|Operating cash flow||4,590.70M|
Currency in USD
- 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
- 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%)
- 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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