MIDEA-GROUP
Midea Group, the world's largest home appliance supplier, has reported impressive growth and record profits in its 2023 annual report. The company achieved a total revenue of RMB 373.7 billion, representing a year-on-year increase of 8.10%. Concurrently, the net profit attributable to shareholders reached RMB 33.7 billion, a year-on-year increase of 14.10%, marking the largest growth since 2019.
The company's success is attributed to its "Global Impact" strategy, which has resulted in overseas sales accounting for over 40% of its total sales for several years. Midea's products have been exported to over 200 countries and regions worldwide, and it is continuously expanding its overseas manufacturing layout, promoting the construction of manufacturing bases in Indonesia, India, Thailand, Brazil, Mexico, Italy, Egypt, and other countries.
Midea's new energy and industrial technology are co-builders of digital transformation and green sustainable development in the global industrial field, consolidating its leading position in the industry. The company's household air conditioning compressor business ranked first in 2023, claiming a global market share of 45%. Its household air conditioning and washing machine motors also secured the top spot globally, with market shares of 40% and 22%, respectively. Furthermore, the company’s New Energy automotive parts product lines are rapidly developed, with an expected shipment volume of 750,000 units in 2023, representing a year-on-year growth of 400%. Additionally, through the acquisition of energy companies such as CLOU Electronics and Hiconics Eco-energy, Midea has entered the energy storage industry, which holds immense market potential.
KUKA, a subsidiary of Midea, is one of the "Big Four" industrial robot companies globally and the second-largest heavyweight robot company based on sales in 2023. In 2023, KUKA Group reached record-high revenue and order volume, with particularly strong performance in the Chinese market.
Midea's intelligent building technology provides intelligent ecological integration solution provider for building construction. According to Frost & Sullivan, the company is the largest commercial air conditioning supplier in mainland China and the fifth-largest globally in 2023.
Midea Group has invested over RMB 14.5 billion in R&D, employing more than 23,000 research personnel globally. As of 2022, the company ranks seventh globally in total patent families, first among Chinese enterprises and the global home appliance industry, with over 28,000 invention patents.
Midea Group has approximately 200 subsidiaries, 33 research and development centers, and 40 major production bases worldwide, with over 190,000 employees. The company's impressive growth and record-breaking profits demonstrate its commitment to innovation, sustainability, and global expansion.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240327086107/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Outpost24 Acquires Infinipoint to Power Its Entry into the Zero Trust Workforce Access Market9.12.2025 08:00:00 CET | Press release
The strategic acquisition strengthens market leadership by unifying user identity with device trust, eliminating security blind spots. Outpost24, a leader in exposure management and identity security, today announced the acquisition of Infinipoint, a specialist in device identity, posture validation, and secure workforce access. The acquisition marks Outpost24’s entry into the Zero Trust Workforce Access market and enhances its identity security division, Specops, by laying the foundation for a unified approach that evaluates both the user and the device before access is granted. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208750630/en/ Ido Erlichman, Chief Executive Officer of Outpost24. As organizations advance their Zero Trust strategies, authentication alone is no longer enough. MFA and SSO confirm who the user is, but they do not validate the security of the device being used. In hybrid environments where employee
VSO Submits VCP v1.0 to Nineteen Regulatory Authorities Across Thirteen Jurisdictions and Completes First Integrated Evaluation in a Production-Like Environment9.12.2025 08:00:00 CET | Press release
The VeritasChain Standards Organization (VSO) announced today that it has submitted the VeritasChain Protocol (VCP) v1.0 to nineteen regulatory authorities across thirteen jurisdictions, including the United States, United Kingdom, European Union, Singapore, Hong Kong, United Arab Emirates (DIFC), Australia, India, South Korea, Switzerland, Brazil, Liechtenstein, and Saudi Arabia. The submissions present VCP v1.0 as a cryptographic audit framework designed to address emerging supervisory requirements under the EU AI Act Article 12 for logging and traceability, and MiFID II / RTS 25 for timestamp integrity and event ordering in AI-driven and algorithmic trading systems. VSO also confirmed the first completed integration of VCP v1.0 within a controlled, production-like evaluation environment operating under its Early Access Program. The environment successfully generated cryptographically linked event chains, immutable hashing, and verifiable proofs using RFC-aligned structures, demonstr
ENGIE and NHOA Energy Expand Their Partnership in Belgium to Build a New 320 MWh Battery Energy Storage System9.12.2025 08:00:00 CET | Press release
The project strengthens the strategic partnership with ENGIE and reinforces NHOA Energy’s long-term commitment to the Benelux markets NHOA Energy, global provider of utility-scale energy storage systems, has been awarded by ENGIE the contracts for the Supply, Commissioning and the Long-Term Service of a new 80 MW / 320 MWh Battery Energy Storage System (BESS) to be installed at the site of ENGIE’s Drogenbos power station, near Brussels. The Drogenbos BESS represents ENGIE’s third large-scale battery asset in Belgium and was selected in the country’s fifth Capacity Remuneration Mechanism (CRM) auction, securing a 15-year contract starting in November 2027. Designed to deliver essential flexibility services to the Belgian grid, enabling greater integration of renewable energy and supporting grid stability at national level, the BESS will be based on NHOA Energy’s NHEXUS platform, including 88 battery containers capable of providing up to 4 hours of discharge, corresponding to the average
2025 Sees Double-digit Increase in Tourists' Spending via Alipay+ in South Korea as Travellers Seek More Local Experiences9.12.2025 07:55:00 CET | Press release
- Total number of Alipay+ QR code payment transactions in South Korea increased 18%, with total payment volume (TPV) growing 16% year-on-year - Beauty clinic, transportation and F&B are some of the fastest-growing categories in spending with Alipay+ Alipay+, Ant International’s global wallet gateway services, revealed an 18% increase in Alipay+-supported QR code payment transactions, with total payment volume (TPV) growing 16% year-on-year in South Korea, as more tourists use Alipay+ partner wallets and bank apps to make digital payments for a range of services, from beauty clinic treatments and transportation to night market food stalls. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208351936/en/ Weixiao Jiang, General Manager North Asia and North America, Alipay+, Ant International South Korea is among the top destinations for tourists from regions such as Southeast Asia and the Chinese mainland, with the greatest numb
Interactive Brokers Expands Market Access with United Arab Emirates Equities9.12.2025 07:00:00 CET | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced the introduction of United Arab Emirates (UAE) equities through two leading exchanges in one of the world’s fastest-growing economic regions. Clients of Interactive Brokers worldwide can now access the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM). This enables investors in the region to trade both local and international markets from a single platform while investors worldwide can build diversified portfolios across asset classes and geographies, including countries in the growing Gulf Cooperation Council (GCC). Interactive Brokers serves a global client base and is uniquely equipped to advance the financial goals of individual and institutional investors worldwide, including those in the Middle East. Adding UAE stocks further expands Interactive Brokers’ market access and enhances the investment opportunities available to local and global investors. Interactive Broker
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom