Midea
- Revenue¥306.7 BFY, 2021
- Market Capitalization¥367.1 B2022-08-02
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.
| Type | Public | |
| Founded | 1968 | |
| HQ | Foshan, CN | Map |
| Website | midea-group.com |
Recent NewsAll News
- Midea America Corp in partnership with New York City Football Club (NYCFC) announced that Midea Group (Fortune Global 500 Company)
- Midea To Become Largest Contributing Partner For Nycfc Foundation ‘City In The Community’ (Citc)
- Comedian Sam Richardson Stars As ‘Chief Idea Officer’ In Midea’s U.S. Brand Launch Campaign
- Invite Nature In: Midea Delivers a Breath of Fresh Air with Midea GAIA Split AC
Key People/Management at Midea
Fang Hongbo
Chairman, CEO
Hu Ziqiang
Vice President
Zhang Xiaoyi
Vice President
Wang Jianguo
Vice President
Wang Jinliang
Vice President
Yin Bitong
Executive Director, Vice President
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
Midea Financials and Metrics
Midea Revenue
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
| CNY | FY, 2018 | FY, 2019 | FY, 2020 | FY, 2021 |
|---|---|---|---|---|
Revenue | 239.4b | 255.3b | 259.9b | 306.7b |
Cost of goods sold | (188.4b) | (198.0b) | (213.0b) | (264.6b) |
Gross profit | 71.8b | 79.6b | 71.2b | 77.1b |
Gross profit Margin, % | 30% | 31% | 27% | 25% |
Quarterly
| CNY | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 | Q3, 2021 | Q1, 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 75.0b | 67.2b | (75.1b) | 58.1b | 69.6b | 89.0b | 82.6b | 73.6b | 105.6b | 90.6b |
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 | 21.1b | 23.8b | (26.0b) | 14.6b | 20.8b | 19.2b | 19.1b | 21.4b | 22.0b | 20.2b |
Gross profit Margin, % | 28% | 35% | 35% | 25% | 30% | 22% | 23% | 29% | 21% | 22% |
Annual
| CNY | FY, 2018 | FY, 2019 | FY, 2020 | FY, 2021 |
|---|---|---|---|---|
Cash | 27.9b | 70.9b | 81.2b | 71.2b |
Accounts Receivable | 19.4b | 18.7b | 23.0b | 24.6b |
Prepaid Expenses | 2.2b | 2.2b | 2.8b | 4.4b |
Inventories | 29.6b | 32.4b | 31.1b | 45.9b |
Quarterly
| CNY | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 | Q3, 2021 | Q1, 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash | 29.0b | 35.9b | 52.4b | 78.5b | 53.0b | 66.5b | 86.2b | 63.4b | 55.9b | 69.8b |
Accounts Receivable | 23.0b | 20.3b | 20.7b | 25.7b | 23.1b | 26.4b | 27.6b | 26.0b | 29.7b | |
Prepaid Expenses | 2.5b | 2.1b | 2.2b | 2.8b | 2.4b | 2.5b | 3.2b | 3.5b | 3.6b | 4.7b |
Inventories | 24.1b | 24.1b | 24.0b | 24.4b | 21.7b | 24.1b | 31.5b | 34.5b | 33.2b | 41.8b |
Annual
| CNY | FY, 2018 | FY, 2019 | FY, 2020 | FY, 2021 |
|---|---|---|---|---|
Net Income | 21.7b | 25.3b | 27.5b | 29.0b |
Depreciation and Amortization | 4.8b | 5.2b | 5.0b | 6.2b |
Inventories | (77.4m) | (2.7b) | (1.8b) | (15.2b) |
Accounts Payable | 19.2b | 15.9b | 19.9b | 24.9b |
Quarterly
| CNY | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 | Q3, 2021 | Q1, 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
Net Income | 16.1b | 14.1b | 15.2b | |||||||
Depreciation and Amortization | 2.4b | 2.5b | 3.0b | |||||||
Inventories | 5.8b | 8.1b | (3.6b) | |||||||
Accounts Payable | 12.3b | 2.9b | 14.9b |
| CNY | FY, 2018 |
|---|---|
Revenue/Employee | 2.1m |
Debt/Equity | 0.7 x |
Debt/Assets | 0.2 x |
Financial Leverage | 2.9 x |
Midea Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Clivet SpA | June 25, 2016 | |
| KUKA Robotics | May 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. |
Midea Revenue Breakdown
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
Midea Environment, Social & Governance (ESG) Ratings
Midea Online and Social Media Presence
648 Twitter followers
Midea has 648 Twitter Followers. The number of followers has increased 2.7% month over month and increased 4.3% quarter over quarter
Midea's Trends
Midea News and Updates
July 04, 2022
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…
June 30, 2022
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…
June 21, 2022
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”.
June 16, 2022
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...
June 09, 2022
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...
May 31, 2022
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...
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.
Learn about Craft real-time company insights
Receive alerts for 300+ data fields across thousands of companies