The founder of Midea is He Xiangjian. Now it’s Cai Qiwu (Director and Senior Vice President of Midea Group).

The history of Midea Group can be traced back to 1968. Its predecessor was a street workshop founded by 23 residents of Beijiao Commune led by Mr. He Xiangjian and raised 5,000 yuan. Over the past few decades, Midea has continued to develop into a modern large-scale enterprise group. In 1992, Midea Group underwent an internal restructuring and was listed on the Shenzhen Stock Exchange in 1993. It was the first company in China to be reorganized and listed from a town enterprise, and now has 21 holding companies.

Extended information:

The development history of Midea:

1. In 1968, Midea started its business. In 1980, Midea officially entered the home appliance industry. In 1981, Midea brand was registered. . In 2014, Midea Group employed a total of 130,000 people and owned more than ten brands including Midea, Little Swan, Welling, Hualing, Ande, and Meizhi.

2. The main home appliance products include household air conditioners, commercial air conditioners, large central air conditioners, refrigerators, vacuum cleaners, heaters, electric kettles, ovens, range hoods, water purification equipment, air fresheners, humidifiers, Stoves, disinfection cabinets, lighting and air conditioning compressors, refrigerator compressors, motors, magnetrons, transformers and other home appliance accessories.

3. In 2013, Midea Group achieved overall sales revenue of 121 billion yuan, of which export sales revenue reached US$7.4 billion.

4. In the 2013 "China's Most Valuable Brand" evaluation, Midea's brand value reached 65.336 billion yuan, ranking fifth among the country's most valuable brands. As of 2013, Midea Group has donated more than 600 million yuan to social welfare undertakings.

5. In 2014, Midea Group's net profit attributable to shareholders of listed companies reached 10.502 billion yuan, and the overall gross profit margin reached 25.46%, an increase of 2.17% year-on-year.

6. In 2014, Midea will build an innovation center and implement the “333” strategic plan.

7. In 2015, Midea became the first Chinese home appliance company to receive three major international credit ratings: S&P, Fitch, and Moody's.

8. In 2016, Midea Group’s total operating income was 159.044 billion yuan and net profit was 15.862 billion yuan.

9. Midea ranked 450th in the 2017 Fortune Global 500 rankings and 208th in profit.

10. In June 2018, the Executive Committee of Midea Group has approved the decision to integrate the production, research, supply and sales functions of hoods, stoves, dishwashers and disinfection cabinets into the water heater division. , established the Midea Kitchen and Hot Water Division, merging the two original independent kitchen and water heater divisions.

11. On July 19, 2018, Fortune announced the ranking of the world's top 500 companies, with Midea ranked 323rd.

12. In October 2018, Midea Group planned to absorb and merge Little Swan through the issuance of A shares. Little Swan will terminate its listing and cancel its legal person status. Midea Group or its wholly-owned subsidiaries will inherit and assume all assets, liabilities, businesses, personnel, contracts and all other rights and obligations of Little Swan.

Baidu Encyclopedia-Midea Group