On August 2, the 2023 Fortune Global 500 list was announced, and Midea Group was selected for eight consecutive years, ranking 278th.
Layout optimization and business improvement
In 2022, Midea Group will continue to develop five major sectors: smart home, industrial technology, building technology, robotics and automation, and innovative business, forming a "1+3+N" business structure with equal emphasis on ToC and ToB business development and rapid growth of innovative business. The ToC business focuses on the "Digital One Strategy", while growing steadily, it is oriented to ToB, focusing on the layout and investment in cutting-edge fields such as Midea's medical, Midea's energy, and Midea's industry, so as to achieve incremental creation and firmly ignite the "second engine".
At present, Midea Group's products and services benefit about 500 million users in more than 200 countries and regions around the world. It has formed a multi-brand portfolio including Midea, Little Swan, Toshiba, Hualing, COLMO, Eureka, GMCC, Welling, Gaochuang, Hekang New Energy, Kelu Electronics, Clivet, LINVOL, Kuka, Swissg, Ande Zhilian, Meiyun Zhishu, and Wandong Medical.
Through the optimization of the industrial layout and the global breakthrough of the market, in 2022, the total operating income of Midea Group will be 345.7 billion yuan, a year-on-year increase of 0.7%, and the net profit attributable to the parent company will be 29.6 billion yuan, a year-on-year increase of 3.4%; In the first quarter of 2023, the total operating income was 96.6 billion yuan, a year-on-year increase of 6.3%, and the net profit attributable to the parent company was 8 billion yuan, a year-on-year increase of 12%, and the operating performance continued to improve. At present, Midea Group has a total of more than 160,000 employees at home and abroad, including nearly 40,000 overseas employees.
Reform and innovation continue to make breakthroughs
Under the guidance of the four strategic axes, driving the continuous growth of the five major business segments, Midea Group adheres to the genes of innovation and pragmatism, finds more endogenous power through continuous reform and innovation, further improves corporate governance, looks for more employees with entrepreneurial spirit, stimulates innovation and entrepreneurship, and continuously establishes new differentiated advantages.
Midea Group has always taken "leading technology" as the core source of enterprise development, continuously optimized the global R&D system, increased R&D investment, laid out and invested in new cutting-edge technologies, especially strengthened investment in basic science, carried out forward-looking R&D layout in cutting-edge technology fields such as green, intelligence, health, robotics and automation, and constantly overcame key and important technical problems to achieve independent and controllable key core technologies.
At the same time, Midea Group unswervingly promotes "global breakthroughs", firmly invests in overseas advantageous markets, and forms brand and scale advantages; For overseas potential markets, optimize product structure and channels, promote the localization of R&D, manufacturing and talents, and continue to make breakthroughs towards global technology groups.