Midea climbs 31 places on Global Fortune 500

Guangdong, China, 7 August 2017 – Midea (Midea Group Co Ltd, SZSE 000333), the world’s largest home appliance company and #1 major appliances producer, has risen to #450 on on the global Fortune 500 list, up from #481 last year when the company became the first company from the Chinese household appliances industry to enter the list.

Midea achieved operating revenue of RMB 159.8 (USD 24) billion in 2016, a year-on-year increase of 16 percent, and net profit of RMB 15.9 (USD 2.4) billion.

“Also during the last 12 months Midea continued to advance its strategy of pivoting towards an efficiency-driven, global operation producing more advanced and innovative products in the home appliances industry. We are also switching from traditional product exportation from China to operating locally in key markets,” said Andy Gu, Vice President at Midea Group.

Midea had a strong year of important M&As including the recently acquired Toshiba home appliance business, German industrial robotics group Kuka AG, Israel-based Servotronix, and Italian air-conditioning manufacturer Clivet.

Midea’s focus has also been on optimizing its product structure with a greater focus on customer-centricity. Midea’s latest smart home appliances cover air treatment, refrigeration, laundry, large cooking and small kitchen appliances, water appliances, floor care and lighting.

The company has taken significant steps toward becoming a global leader in home appliances, heating, ventilation and air-conditioning, robotics and industrial automation systems due to its increased investment in research and development. In the past five years, Midea has invested RMB 20 (USD 3) billion into R&D, including the establishment of 17 research centers in eight countries. More than 10,000 employees are now directly involved in R&D and the company now has more than 26,000 authorized patents. Last year alone, the group applied for 13,546 patents and 5,562 invention patents.


Midea, the world’s largest home appliance company, donates big-ticket products to Woodlands fire victims

Singapore, October 26 2017 – Mr Shah Rizal Abdul Razak and his wife were devastated when a fire destroyed the belongings in their four-room flat in Woodlands on Sept 22.

Today, Midea Singapore donated more than $5,000 worth of its state-of-the art smart home appliances to the couple after reading about their plight in media reports. Leading the donated items is system 3 air conditioner, which can cool three rooms and is worth more than $2,600. The next big-ticket item for the couple is a two-door refrigerator that costs $798. The other appliances are a washing machine, a vacuum cleaner, an intelligent rice cooker, and two stand fans.

A vacuum cleaner was also given to their neighbour, Ms Maslindah Sain, who has been appealing to the public to help them tide over their crisis.

Finance Director of Midea Singapore, Mr Davis Weng, said, “We decided to help Mr Rizal refurnish his home after reading about their neighbours calling for the public to help them rebuild their lives. So, we are donating these modern essential items to help them move on with their lives after the unfortunate incident. We hope our contributions would also enhance their lifestyle and offer them conveniences with the innovative solutions of our products, from the rice cooker to the refrigerator. Doing our bit to make lives better for the less fortunate is part of our corporate social responsibility efforts as we build our presence in Singapore.”

A grateful Mr Rizal (age 34), a civil servant, was surprised by Midea’s generous contribution when he received the items for his home at Block 886B Woodlands Drive 50 today. The flat is still undergoing renovations and he looks forward to unpacking the Midea items.

He believes the fire was started after his e-scooter battery exploded. He and his wife, Haryati Ali, were traumatized after losing most of their belongings in the fire which also killed two of their four cats.

Since then, neighbours had come together and donated cash and furniture to the couple as contractors rushed to renovate the damaged flat that was their home for three years. Woodlands