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Consumer Durables
Midea Group Co. Ltd.
- 41.00 CNY
- -0.20
- -0.49%
China
Jan 16, 2019Ticker
SHE(000333)Prev. close
41.20Market cap (CNY)
270,598.50MMarket cap (USD)
40,065.44MShares
6,567.92M
In the news
- Toshiba appliances enjoy second life with China's Midea Jan 15, 2019
- China's electronics makers lose steam as market matures Dec 5, 2018
- Alibaba and Tencent chiefs among China's '100 entrepreneurs' Oct 26, 2018
- Investors warn of risks as Chinese A-shares join MSCI indexes May 30, 2018
- China gets cozy with smart appliances Mar 20, 2018 See more articles on Midea Group Co. Ltd.
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.
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.
Financial Highlights
| Dec 2017 | CNY | USD |
| Revenue | 240,502.46M | 35,586.64M |
| Gross Profit | 59,788.27M | 8,846.74M |
| Operating income | 18,044.96M | 2,670.07M |
| Income before tax | 21,544.75M | 3,187.93M |
| Net income | 17,283.68M | 2,557.43M |
| EBITDA | 24,740.83M | 3,660.85M |
| Diluted EPS | 2.63 | 0.38 |
| Dividends Per Share | 1.20 | 0.17 |
| Total Assets | 248,106.85M | 38,099.94M |
| Total liabilities | 165,179.18M | 25,365.35M |
| Total equity | 73,737.43M | 11,323.31M |
| Operating cash flow | 27,170.22M | 4,020.32M |
| Currency in CNY | Currency in USD |
Historical Data
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | |
| Revenue | 120,655.24M | 141,501.37M | 138,435.79M | 158,764.58M | 240,502.46M |
| Gross Profit | 27,632.14M | 35,425.48M | 35,209.21M | 42,706.69M | 59,788.27M |
| Operating income | 8,381.28M | 12,856.46M | 12,964.30M | 15,037.37M | 18,044.96M |
| Income before tax | 9,974.50M | 13,895.94M | 15,630.61M | 18,748.69M | 21,544.75M |
| Net income | 5,317.45M | 10,502.22M | 12,706.72M | 14,684.35M | 17,283.68M |
| EBITDA | 11,426.03M | 16,176.87M | 15,816.32M | 18,615.37M | 24,740.83M |
| Diluted EPS | 1.15 | 1.66 | 1.99 | 2.28 | 2.63 |
| Dividends Per Share | 0.53 | 0.66 | 0.80 | 1 | 1.20 |
| Total Assets | 97,705.10M | 120,292.08M | 128,841.93M | 170,600.71M | 248,106.85M |
| Total liabilities | 58,572.46M | 73,366.57M | 72,809.81M | 101,621.61M | 165,179.18M |
| Total equity | 32,847.43M | 39,470.49M | 49,201.85M | 61,126.92M | 73,737.43M |
| Operating cash flow | 11,067.13M | 26,133.94M | 28,853.15M | 28,649.05M | 27,170.22M |
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | |
| Revenue | 19,626.13M | 22,964.66M | 22,025.95M | 23,897.52M | 35,586.64M |
| Gross Profit | 4,494.72M | 5,749.30M | 5,601.99M | 6,428.28M | 8,846.74M |
| Operating income | 1,363.32M | 2,086.51M | 2,062.69M | 2,263.45M | 2,670.07M |
| Income before tax | 1,622.48M | 2,255.21M | 2,486.92M | 2,822.08M | 3,187.93M |
| Net income | 864.95M | 1,704.43M | 2,021.71M | 2,210.31M | 2,557.43M |
| EBITDA | 1,858.59M | 2,625.39M | 2,516.47M | 2,802.01M | 3,660.85M |
| Diluted EPS | 0.18 | 0.26 | 0.31 | 0.34 | 0.38 |
| Dividends Per Share | 0.08 | 0.10 | 0.12 | 0.15 | 0.17 |
| Total Assets | 16,139.20M | 19,389.44M | 19,841.37M | 24,548.63M | 38,099.94M |
| Total liabilities | 9,675.16M | 11,825.68M | 11,212.54M | 14,622.86M | 25,365.35M |
| Total equity | 5,425.83M | 6,362.10M | 7,576.97M | 8,795.87M | 11,323.31M |
| Operating cash flow | 1,800.21M | 4,241.35M | 4,590.70M | 4,312.30M | 4,020.32M |
Valuation Measures
| Dec 2017 | |
| PER | 20.83 |
| ROA | 8.25% |
| ROE | 25.63% |
| Operating margin | 7.50% |
| Profit margin | 7.18% |
Key executives
- Chairman & President: Hong Bo Fang
- Chairman-Supervisory Board: Min Lu
- Chief Financial Officer: Ming Guang Xiao
- Vice President & Head-Domestic Marketing: Jin Liang Wang
- Director & Vice President: Fei De Li
Shareholders
- HE XIANG JIAN (34.1%)
- China Securities Finance Corp. Ltd. (3.0%)
- Hillhouse Capital Management Ltd. (China) (1.6%)
- HUANG JIAN /MIDEA/ (1.3%)
- Capital Research & Management Co. (Global Investors) (1.3%)
- Xiaomi Corp. (1.2%)
- China Investment Corp. (Investment Management) (1.2%)
- Canada Pension Plan Investment Board (1.1%)
- China Asset Management Co., Ltd. (0.8%)
- LI JIAN WEI /MIDEA/ (0.7%)
Contact Details
- Website:http://www.midea.com.cn
- Address: Midea Headquartere Building, No. 6 Midea Avenue, Foshan, 528311, China
- Phone: +86.757.2633.8888
Related Companies
- Midea Electrics Netherlands II BV
- Guangzhou Hualing Refrigeration Equipment Co., Ltd.
- Midea Electrics Netherlands I BV
- Midea Group Partner Program Phase 3
- Electrolux Home Care Products, Inc. /Eureka Brand/
- Midea America Corp.
- Foshan Shunde Midea Electrical Heating Appliances Manufacturin
- Jiangsu Midea Cleaning Appliances Co. Ltd.
- Wuhu Midea Washing Appliances Manufacturing Co. Ltd.
- Midea Investment Development Co. Ltd.
- Toshiba Lifestyle Products & Services Corp.
- Guangdong Midea Lighting Electric Manufacturing Co. Ltd.
- Midea Electric Trading (Singapore) Co. Pte Ltd.
- Midea Group Finance Co., Ltd.
- Midea Electric (Hong Kong) Ltd.
- Midea-Gorizont OOO
- Midea Living Appliances Group
- Main Power Electrical Factory Ltd.
- Midea Electric Investment (BVI) Ltd.
- Midea Investment Holding (BVI) Ltd.
- Wuhu Annto Logistics Co. Ltd.
- Hunan Sanxiang Passenger Carriage Co. Ltd.
- Shunde Welling Electric Motor Manufacturing Co. Ltd.
- Foshan City Midea Electric Appliance Co. Ltd.
- Midea International Holding Co. Ltd.
- Midea International Corp. Co. Ltd.
- Servotronix Motion Control Ltd.
- Wuxi Little Swan Co. Ltd.
- KUKA Aktiengesellschaft
Competitors
- Electrolux AB Class B
- Whirlpool Corporation
- Panasonic Corporation
- Gree Electric Appliances, Inc. of Zhuhai Class A
- Samsung Electronics Co., Ltd.
- Haier Electronics Group Co., Ltd.
- LG Electronics Inc.
- Chigo Holding Limited
- De'Longhi S.p.A.
- Aumann GmbH
- Shanghai Highly (Group) Co., Ltd. Class B
- Tadiran Holdings Ltd.
- SEB SA
- Sichuan Changhong Electric Co., Ltd. Class A
- Hyundai Heavy Industries Holdings Co., Ltd.
- Concepcion Industrial Corp.
- Rechi Precision Co. Ltd.
- Elec-tech International Co., Ltd. Class A
- A. O. Smith Corporation
- Unitronics (1989) (RG) Ltd.
- BEST, Inc. Sponsored ADR Class A
- Brimag Digital Age Ltd
- Zhejiang Yankon Group Co., Ltd. Class A
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Last Updated on 16 Jan, 2019Your full access to the Nikkei Asian Review has expired
