MIDEA-GROUP
28.3.2024 06:49:29 CET | Business Wire | Press release
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
Rigaku Launches CT Lab HR160 High-Resolution X-ray CT System1.9.2026 17:00:00 CEST | Press release
- Developed in collaboration with Excillum for battery, semiconductor devices, and advanced materials analysis - Rigaku Corporation, a global solutions partner in X-ray analytical systems and a group company of Rigaku Holdings Corporation (Headquarters: Akishima, Tokyo; President and CEO: Jun Kawakami; “Rigaku”), today announced the launch of the CT Lab HR160, a high-resolution X-ray computed tomography (CT) system for battery, semiconductor devices, electronic components, and advanced materials analysis. The system is developed in collaboration with Excillum AB, the global source for X-ray innovation (Headquarters: Stockholm, Sweden; CEO: David Lindblom; “Excillum”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901074099/en/ Photo: CT Lab HR160 High-Resolution X-ray CT System CT Lab HR160 combines Rigaku’s X-ray CT imaging expertise with Excillum’s NanoTube N3 X-ray source. Operating at up to 160 kV to support a wide r
GigaDevice Joins the Zephyr® Project to Foster Global Open-Source Ecosystem1.9.2026 16:00:00 CEST | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, has officially joined the Zephyr® Project, one of the world’s leading open-source real-time operating systems (RTOS). Hosted by the Linux Foundation®, the Zephyr® Project welcomes GigaDevice as a Silver Member, making GigaDevice a dual Silver Member of both the Zephyr® Project and the Linux Foundation. Leveraging its comprehensive GD32 MCU portfolio, GigaDevice will actively participate in the Zephyr® community, promoting deeper integration between its MCU technologies and the global open-source RTOS ecosystem. This will provide customers and developers in industrial, IoT, consumer electronics, and other fields with a more open, standardized, and efficient embedded development environment, while continuing to contribute to the growth of the global embedded open ecosystem and broader access to technology. With the continued evolution of the Internet of
Vivax-Metrotech Partners with Oaktree to Accelerate Strategic Growth1.9.2026 16:00:00 CEST | Press release
Vivax-Metrotech Corporation (“Vivax-Metrotech”), a leading manufacturer of precision locating and inspection devices for utility infrastructure, and Oaktree’s Power Opportunities strategy, today announced a partnership to accelerate Vivax-Metrotech’s growth trajectory and strengthen its leading position. For more than 60 years, Vivax-Metrotech has delivered best-in-class solutions for the utility industry with a focus on underground infrastructure. From its origins in California, the company has expanded across the United States and internationally, developing and supplying locator systems, inspection cameras, and associated digital solutions that help utilities, municipalities, and service providers safely build, maintain, and manage their assets. Today, Vivax-Metrotech is firmly established as a leading player in the U.S. and Global utility locator equipment and inspection device markets. The partnership with Oaktree’s Power Opportunities group will support Vivax-Metrotech’s continue
Mary Kay Unveils New Global Brand Platform – Beauty Is More Beautiful Shared™ – Reclaiming Beauty as a Shared Experience1.9.2026 15:00:00 CEST | Press release
With Largest Consumer-Facing Campaign In Company History Mary Kay Enters Its New Era Of Reach And Impact Today, Mary Kay Inc., the iconic beauty and entrepreneurship brand founded by the bold visionary Mary Kay Ash, announced Beauty Is More Beautiful Shared™, its largest-ever global consumer-facing campaign and a long-term brand strategy designed to drive its next era of growth. Launching across 40 markets worldwide, the campaign reintroduces Mary Kay to a new generation of consumers by celebrating a timeless truth at the heart of the brand: Beauty Is More Beautiful Shared™ and bridging the love for Mary Kay across generations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901735460/en/ Mary Kay announces Beauty Is More Beautiful Shared™, its largest-ever global consumer-facing campaign and a long-term brand strategy designed to drive its next era of growth. (Image Courtesy: Mary Kay Inc.) “Beauty Is More Beautiful Share
Visa Launches Enhanced A2A Protect Innovations to Help Financial Institutions Stop Fraud Before Money Leaves Accounts1.9.2026 15:00:00 CEST | Press release
New unified fraud score is the company’s first combined offering in-market since Visa’s acquisition of FeaturespaceA2A Protect has been shown to reduce over 50% more fraud and help reduce over 40% in unnecessary fraud alerts Visa (NYSE: V), a world leader in digital payments, today announced an enhanced version of A2A Protect, delivering real-time risk insights that help banks stop account-to-account fraud before money leaves customer accounts. The expanded solution introduces a new unified fraud score—Visa’s first in-market integration of Featurespace technology—giving financial institutions faster, clearer signals to detect more fraud while reducing unnecessary alerts. As account-to-account (A2A) payments accelerate globally, A2A transactions are projected to surpass 5.8 trillion by 2028, a 160% increase from 20241. A2A Protect leverages advanced AI and sophisticated transfer learning and gives banks immediate access to critical global risk insights on A2A transactions, without waiti
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