Midea

OverviewSuggest Edit

Midea Group (美的集团股份有限公司) is a technologies group that manufactures electrical appliances. It operates through five business divisions: Smart Home Business, Electromechanical Business, HVAC and Building Technologies, Robotics and Automation, and Digital Innovation Business. The Smart Home Business group provides smart home appliances and services. The Electromechanical Business group carries out R&D, production, and sales of high-precision core components such as compressors, motors, chips, industrial control, and cooling modules. The HVAC and Building Technologies division is dedicated to providing energy, HVAC, elevator, control, and other products, solution packages, and services. The Robotics and Automation division focuses on providing solutions for industrial robotics, automatic logistics systems, and transmission systems. The Digital Innovation Business provides software services, unmanned retail solutions, and production services for the digital transformation of enterprises.
TypePublic
Founded1968
HQFoshan, CN
Websitemidea-group.com

Latest Updates

Employees (est.) (Dec 2020)149,239(+11%)
Revenue (FY, 2021)¥306.7 B(+18%)
Share Price (Aug 2022)¥53.6(-1%)
Cybersecurity ratingCMore
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Key People/Management at Midea

Fang Hongbo

Fang Hongbo

Chairman, CEO
Hu Ziqiang

Hu Ziqiang

Vice President
Zhang Xiaoyi

Zhang Xiaoyi

Vice President
Wang Jianguo

Wang Jianguo

Vice President
Wang Jinliang

Wang Jinliang

Vice President
Yin Bitong

Yin Bitong

Executive Director, Vice President
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Midea Office Locations

Midea has offices in Foshan, Hefei, Louisville, Parsippany-Troy Hills and in 28 other locations
Foshan, CN (HQ)
No. 6 Midea Avenue, Beijiao Shunde
Hefei, CN
176 Jin Xiu Road
Buenos Aires, AR
Vedia 3616 3er. Piso
Condell Park, AU
114 Eldridge Rd
Dandenong South, AU
7 Ordish Rd
Underwood, AU
Bcp House, 5/11 Eileen St
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Midea Financials and Metrics

Midea Revenue

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Midea's revenue was reported to be ¥306.69 b in FY, 2021
CNY

Revenue (Q1, 2022)

90.6b

Gross profit (Q1, 2022)

20.2b

Gross profit margin (Q1, 2022), %

22.3%

Net income (Q1, 2022)

7.2b

EBITDA (Q1, 2022)

6.9b

EBIT (Q1, 2022)

6.9b

Market capitalization (2-Aug-2022)

367.1b

Closing stock price (2-Aug-2022)

53.6

Cash (31-Mar-2022)

69.8b

EV

393.4b
Midea's current market capitalization is ¥367.1 b.
Annual
CNYFY, 2018FY, 2019FY, 2020FY, 2021

Revenue

239.4b255.3b259.9b306.7b

Cost of goods sold

(188.4b)(198.0b)(213.0b)(264.6b)

Gross profit

71.8b79.6b71.2b77.1b

Gross profit Margin, %

30%31%27%25%
Quarterly
CNYQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Revenue

75.0b67.2b(75.1b)58.1b69.6b89.0b82.6b73.6b105.6b90.6b

Cost of goods sold

(54.0b)(54.6b)60.3b(43.5b)(60.1b)(58.4b)(63.5b)(69.9b)(65.7b)(70.4b)

Gross profit

21.1b23.8b(26.0b)14.6b20.8b19.2b19.1b21.4b22.0b20.2b

Gross profit Margin, %

28%35%35%25%30%22%23%29%21%22%
Annual
CNYFY, 2018FY, 2019FY, 2020FY, 2021

Cash

27.9b70.9b81.2b71.2b

Accounts Receivable

19.4b18.7b23.0b24.6b

Prepaid Expenses

2.2b2.2b2.8b4.4b

Inventories

29.6b32.4b31.1b45.9b
Quarterly
CNYQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Cash

29.0b35.9b52.4b78.5b53.0b66.5b86.2b63.4b55.9b69.8b

Accounts Receivable

23.0b20.3b20.7b25.7b23.1b26.4b27.6b26.0b29.7b

Prepaid Expenses

2.5b2.1b2.2b2.8b2.4b2.5b3.2b3.5b3.6b4.7b

Inventories

24.1b24.1b24.0b24.4b21.7b24.1b31.5b34.5b33.2b41.8b
Annual
CNYFY, 2018FY, 2019FY, 2020FY, 2021

Net Income

21.7b25.3b27.5b29.0b

Depreciation and Amortization

4.8b5.2b5.0b6.2b

Inventories

(77.4m)(2.7b)(1.8b)(15.2b)

Accounts Payable

19.2b15.9b19.9b24.9b
Quarterly
CNYQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Net Income

16.1b14.1b15.2b

Depreciation and Amortization

2.4b2.5b3.0b

Inventories

5.8b8.1b(3.6b)

Accounts Payable

12.3b2.9b14.9b
CNYFY, 2018

Revenue/Employee

2.1m

Debt/Equity

0.7 x

Debt/Assets

0.2 x

Financial Leverage

2.9 x
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Midea Acquisitions / Subsidiaries

Company NameDateDeal Size
Clivet SpAJune 25, 2016
KUKA RoboticsMay 18, 2016
Chongqing Midea Air-Conditioning Equipment Co., Ltd.
GD Midea Air-Conditioning Equipment Co. Ltd.
GD Midea Group Wuhu Air-Conditioning Equipment Co. Ltd.
GD Midea Heating & Ventilating Equipment Co., Ltd
Hefei Hualing Co., Ltd.
Hefei Midea Refrigerator Co., Ltd.
Midea Group Finance Co., Ltd.
Midea Group Wuhan Refrigeration Equipment Co., Ltd.
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Midea Revenue Breakdown

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Midea revenue breakdown by business segment: 82.9% from HOUSEHOLD APPLIANCES PRODUCTS and 17.1% from TRAILERS/MOTOR HOMES/CAMPERS

Midea revenue breakdown by geographic segment: 59.7% from CHINA (PEOPLES REPUBLIC) and 40.3% from REST OF WORLD

Midea Cybersecurity Score

Cybersecurity ratingPremium dataset

C

77/100

SecurityScorecard logo

Midea Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Midea Online and Social Media Presence

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Midea News and Updates

Midea America Corp in partnership with New York City Football Club (NYCFC) announced that Midea Group (Fortune Global 500 Company)

Midea America Corp in partnership with New York City Football Club (NYCFC) announced that Midea Group (Fortune Global 500 Company) will become the largest contributing partner for the NYCFC foundation: "City in the Community" which focuses on youth mentorship, product donations and combating homeles…

Midea To Become Largest Contributing Partner For Nycfc Foundation ‘City In The Community’ (Citc)

Midea & City in the Community join forces to tackle youth homelessness in NYC New initiative will combine the power of soccer and Midea home appliances to help make underserved youth feel at home, on the soccer field and beyond Collaboration Includes Significant Midea Product Donation to NYC Are…

Comedian Sam Richardson Stars As ‘Chief Idea Officer’ In Midea’s U.S. Brand Launch Campaign

Midea has launched its first U.S. brand campaign. The concept is centered on a fictional ‘Chief Idea Officer’ played by actor and comedian Sam Richardson of HBO’s “Veep” and Netflix's “The Afterparty”.

Invite Nature In: Midea Delivers a Breath of Fresh Air with Midea GAIA Split AC

Inspired by nature, Midea GAIA provides a real fresh air experience with its innovative OxygenFresh Air Exchange System which brings in purified outdoor air. FOSHAN, China, June 15, 2022 /PRNewswire/ -- Midea has officially launched the Midea GAIA AC, an innovative split AC system that...

Midea Introduces XIAOWEI - Reshaping Home Life

AI Butler, Family Assistant, Safety Guard, Tech Playmate - the first home service robot brought to customers by Midea delivers everything in a single AI package GUANGZHOU, China, June 9, 2022 /PRNewswire/ -- Smart home global leader Midea introduces XIAOWEI, a robot with intelligent...

Midea Industrial Technology brands, Servotronix and Hiconics, at Hannover Messe 2022: Driving Global Industries towards Digitalization and Sustainability

HANNOVER, Germany, May 31, 2022 /PRNewswire/ -- Midea Industrial Technology, showcased innovative automation and green energy products from its two industrial automation brands Servotronix and Hiconics at Booth B38/3, Hall 11. "We hope to leverage the Hannover Messe for more in-depth...
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Midea Frequently Asked Questions

  • When was Midea founded?

    Midea was founded in 1968.

  • Who are Midea key executives?

    Midea's key executives are Fang Hongbo, Hu Ziqiang and Zhang Xiaoyi.

  • How many employees does Midea have?

    Midea has 149,239 employees.

  • What is Midea revenue?

    Latest Midea annual revenue is ¥306.7 b.

  • What is Midea revenue per employee?

    Latest Midea revenue per employee is ¥2.1 m.

  • Who are Midea competitors?

    Competitors of Midea include Haier, Whirlpool and Johnson Controls.

  • Where is Midea headquarters?

    Midea headquarters is located at No. 6 Midea Avenue, Beijiao Shunde, Foshan.

  • Where are Midea offices?

    Midea has offices in Foshan, Hefei, Louisville, Parsippany-Troy Hills and in 28 other locations.

  • How many offices does Midea have?

    Midea has 33 offices.