On September 17, Midea Group Co., Ltd. (hereinafter referred to as "Midea Group" or "the Company", stock code: 00300) was listed on the main board of the Hong Kong Stock Exchange, becoming another "A+H" share listed company.
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Founded in 1968, Midea Group is a leading global technology group covering smart home, new energy and industrial technology, intelligent building technology, robotics and automation and other innovative businesses.
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So far, Midea Group has made remarkable achievements in many business areas, with the leading position in the smart home business continuing to be consolidated, and the rapid growth of commercial and industrial solutions. Thanks to the two-wheel drive of To C business and To B business, the company's performance has been steadily improving for many years, demonstrating the long-term trend of Midea's business resilience and high-quality growth. From 2021 to 2023 and the first half of 2024, the Company's revenue was RMB343.4 billion, RMB345.7 billion, RMB373.7 billion and RMB218.1 billion, respectively, with profit margins of 8.5%, 8.6%, 9.0% and 10.3%, respectively.
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As a global operating company, Midea Group continues to pursue business expansion to the world, and has built a global R&D, manufacturing and sales network, with global development capabilities. In terms of R&D, the company has 33 R&D centers around the world, including 17 overseas R&D centers in 10 overseas countries, integrating global R&D resources and forming global R&D capabilities with complementary advantages. In terms of manufacturing, the company has 43 major production bases around the world, of which 22 overseas production bases are located in 12 countries, achieving global production and delivery, and enjoying growth opportunities in overseas regional markets. In terms of sales, the company has established a complete online and offline sales network in many overseas markets, and has continuously deepened the penetration of the digital sales platform " Meiyunpin" in overseas markets. In addition, the company continues to deepen its global business layout through strategic acquisitions and joint ventures. In the past few years, overseas business has become a new driving force for the company's growth, and its revenue has continued to account for more than 40% of the company's total revenue.
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Looking forward to the future, Midea Group will continue to focus on the four strategic axes of "leading technology, direct access to users, driven by digital intelligence, and global breakthrough", increase R&D investment, attract global R&D talents, and maintain its leading position in science and technology; Strengthen the reach of users, occupy users' minds with products and services, improve user stickiness and satisfaction, and acquire and retain more users; Maximizing efficiency through digitalization and accelerating globalization, we will continue to expand our business in overseas markets, and continue to strengthen our leading position as a global technology company to achieve long-term growth.