Midea Group Co., Ltd.

Midea Group Co., Ltd. is a leading global technology company listed on the Main Board of the Shenzhen Stock Exchange since 2013. The company specializes in manufacturing electrical machinery and equipment, focusing on smart home solutions, energy solutions, industrial technology, intelligent building technology, robotics, and automation. Midea aims to enhance the quality of life for consumers and businesses by offering a wide range of innovative products and services. Midea's business portfolio includes smart appliances and home automation systems for individual consumers, as well as diverse commercial and industrial solutions for corporate clients. The company operates multiple brands, providing high-precision components like compressors and motors, as well as HVAC systems, elevators, and industrial robotics. Midea's extensive market presence spans over 200 countries and regions, where it maintains leadership in various sectors, including household appliances and commercial air conditioning. The company continues to focus on technological innovation and strategic development to meet the evolving demands of the digital era.

A leading global technology company in smart home and commercial and industrial solutions As a leading global technology company in smart home and commercial and industrial solutions, Midea provides services to customers in over 200 countries and regions. It leads the way in various markets, including various household appliances and their key components, commercial air conditioners, robotics and automation. In 2023, Midea Group’s revenue reached RMB373.7 billion, marking its ninth consecutive year on the Fortune Global 500 list, demonstrating its global leadership and outstanding performance. Midea persists in consolidating its market leadership in the global home appliance industry. According to a report by Frost & Sullivan, based on sales volume and revenue in 2023, Midea is the world’s largest home appliance supplier. Currently, Midea has an extensive brand matrix targeting high-end, mass-market, and young consumer segments, and provides various smart home appliance products. Based on value of retail sales in 2023, Midea’s products ranked first in eight categories in both online and offline markets in Mainland China. Furthermore, Midea has become a sizable provider of commercial and industrial solutions, leading the way in multiple markets. According to production volume, Midea ranked first in the residential AC compressor market in 2023, with a global market share of over 45%. Also, based on production volume, Midea ranked first in residential air conditioner and laundry appliance motors, with global market shares of 40% and 22%, respectively. According to a report by Frost & Sullivan, based on revenue in 2023, Midea is the largest commercial air conditioner supplier in Mainland China and the fifth largest globally. Additionally, according to Frost & Sullivan’s report, KUKA Group, a subsidiary of Midea, is one of the “Big Four” industrial robot companies globally and the second largest heavy-duty robot company based on sales volume and revenue in 2023.