Midea (company)

Midea Group
美的集团

Type	Privately-owned company
Industry	Household Products Manufacturing
Founded	1968
Founder(s)	Mr. He Xiangjian
Headquarters	Shunde, Guangdong, People's Republic of China
Area served	People's Republic of China
Key people	Chairman: Mr. He Xiangjian
Products	Residential and Commercial AC , White Goods such as Refrigerator , Washing Machine and Living Appliances like Dish Washer , Microwave Oven , Toaster Oven , Lighting Products , Vacuum Cleaner , Rice Cooker , Induction Cooker , Fan , Water Dispenser and other Small Kitchen Appliances
Revenue	Above 17.2 billion USD , 2010
Employees	130,000 people worldwide, 2010
Website	Midea global website (English) Midea Group Chinese website (Chinese)

Midea (simplified Chinese: 美的电器; traditional Chinese: 美的電器 SZSE: 000527) Founded in 1968, Midea is renowned as a sizeable conglomerate that specializes in the manufacturing of household appliances and sets foot in relevant fields of real estates and logistics. It is now one of the largest white household appliance production bases and export bases in China.According to Group figures, Midea now is one of the top 5 biggest manufacturers of the world in the home appliance industry.

History

In 1968, Mr. He Xiangjian raised a mere RMB 5,000 to start a small plastic bottle lid workshop with 23 employees .In the next 40 years, Midea has gone through an unprecedented development from a local workshop to a multi-billion conglomerate. Midea formally entered into the household appliance industry in 1980, and started to use the brand name of Midea in 1981. Today, Midea Group has up to 130,000 employees and owns over ten famous brands in various industries, namely Midea and Welling etc. Apart from its headquarter in Shunde, the Group has established production bases scattered in Guangzhou, Zhongshan, Wuhu, Wuhan, Huai'an, Kunming, Changsha, Hefei, Chongqing and Suzhou, etc.The Group now has 3 overseas production bases in Vietnam, Belarus and Egypt. Oppossessing an extensive marketing network spreading all over China, the Group also has established twenty-one overseas branch subsidiaries in countries and areas such as U.S.A, England, Germany, Japan, Hong Kong, Korea, Canada,Russia,France,Malaysia and Vietnam. Currently, Midea holds the largest and most complete production chains for air-conditioner,refrigrator, microwave oven,small home appliances and kitchen utensil groups in China.

Group Profile

Its core products include residential AC, commercial AC, large-scale central AC, washing machine, electric cooker, refrigerator, water dispenser, microwave oven, dish washer, induction cooker, electric fan, electric warmer, water heater, kitchen range, range hood, sterilizing cabinet, electric chafing dish, electric oven, vacuum cleaner, small household appliances and other homehold appliance products, as well as other supporting products, such as compressor, electric motor, magnetron and transformer. Midea has been growing in healthy, steady and rapid steps. It successfully achieved an average growth rate of 60% and 50% respectively in the 80s and the 90s. Since the arrival of the new millennium, Midea maintains a growth rate of 35% annually.

In 2007, sales revenue of Midea increased by 30% and hit a record of 75 billion Yuan, while export sales went up by 40% to 3.12 billion USD compared to 2006. In the assessment of ChinaMost Valuable Brands 2007, brand value of Midea ranks No.7 by surging to 37.829 billion Yuan. In Jun 2007, Midea ranked the 3rd in the list of Guangdong's Top 100 Enterprises by Guangdong Enterprise Union Committee and Guangdong Enterprise Association. In October 2007, Midea was placed 52nd by National Bureau of Statistics among the China's Top 500 Large-scale Enterprise Groups. While keeping a rapid growth, Midea also makes active contribution for local economic development. Since 1990, Midea has paid tax totaling 10 billion Yuan and donated nearly 120 million Yuan for social welfare and the cause of education. In 2010, Midea will strive to become the most valuable brand of home appliances of China and an internationalized consumer electrical appliances manufacturing super giant and ascend before the 5th of white household appliance suppliers in the world, with record-breaking sales revenue of 120 billion Yuan.

Major Business

While strengthening the industry of household appliances, Midea is also taking initiatives in expanding new domains. By acquisitions, mergers, and cooperation on a trans-regional and trans-sectoral basis, the group is now marching to a diversified business operation in a well-grounded way. In addition to the domain of household appliances, Midea is also engaged and developing rapidly in the industries of real estate, automobiles, logistics, information technique, finance, and so on. With the acquisition of the industries of refrigerators and washing machines in 2004, Midea's products group of white appliances has been completed, with its overall competitiveness enhanced. In 2001, Midea acquired Sanyo's microwave-oven division.

Midea Microwave and Electrical Appliances Mfg. Co., Ltd.

Only Enterprise in the Microwave Oven Industry that obtained"Certificate of Exemption from Export Inspection" Founded in 1999, Midea Microwave and Electrical Appliances Manufacturing Company Ltd is a member of the Midea Group.The company is a professional manufacturing company with production plants and offices specifically engaged in researching, designing, producing and marketing of Microwave Ovens, Toaster Ovens, BBQs, Built-in Ovens, Ranges, Healthy Appliances, Lighting and Electrical Parts.

On 15 April 2011, as the result of Group huge investment for around $ 180 million, Midea Microwave new factory was opened in Shunde with over 40 million pcs of production capacity per year covering 500,000 square meters of land. The new factory is the biggest worldwide and this way Midea is determined to keep itself at the No.1 position of this industry as the recent years.

Supporting the requirements of assembly lines with components and parts are the high-tech plastic injection molding lines, automated pressing lines, welding lines, spraying lines, screen-printing lines, specialized enameling lines and a PCB factory. In keeping ahead of the world's incessant demand for superior certifiable quality, energy efficient and environmentally friendly products all innovative designs, operational processes and production equipments and techniques used from start to finish are the most advanced in the industry. The Microwave Oven Company, Oven Electrical Appliances Company and Lighting Company are the powerhouses for research, design, innovation, production and ongoing stringent testing, whereas the International Marketing Company and Domestic Marketing Company are the highly skilled and professional front line driving-force in marketing and sales for the entire range of products.

References

• (Group Profile)
• (Midea Microwave Oven Division)

External links

• (Global website)
• (Midea AC website)