Midea

Midea is one of the largest manufacturers and exporters of household appliances in the world: built-in household appliances, but also washing machines, vacuum cleaners, microwave and other kitchen appliances. Midea is heading towards globalization and expanding its international operations with production sites around the world - India Vietnam,, Argentina and Belarus Brazil Egypt - with a total of 21 production sites with a total area of ​ ​ 7 million square meters.

The Midea group has more than 135,000 employees, including qualified engineers, experts from research institutes and laboratories, specialists from foreign production companies.

In 2016, Midea bought a majority stake in the company's home appliances division. Toshiba In December of that year, the company announced the successful acquisition of KUKA AG (KUKA), a provider of intelligent automation solutions. This strategic partnership has opened up opportunities for robotization of production. About 2,000 industrial robots were installed in the factories of the Midea group.

Midea is one of the top 100 green businesses in China.

In 2017, Midea took 450th place in the annual ranking of the 500 largest global companies Fortune Global 500. In 2016, the company's annual profit grew by 16 percent. The volume of sales of the manufacturer of household appliances Midea reached $24.060 billion, positive growth dynamics amounted to 8.5%.

Performance indicators

2020: Global Air Conditioner Market Share - 19.3%

Sales of home air conditioners in the world at the end of 2020 reached 153.5 million units, down 6.1% compared to 2019. The second place in the market went to Midea, its share - 19.3% (data from Euromonitor International UK). Read more here.

History

2024: Going public

On September 9, 2024, China's largest home appliance manufacturer Midea carried out an initial public offering (IPO) in Hong Kong. The listing was the largest for the Hong Kong Stock Exchange in at least three years.

According to Reuters, Midea held a share offering worth about 26.97 billion Hong Kong dollars ($3.46 billion at the time of the IPO). It is Hong Kong's largest offering since JD Logistics raised $3.16 billion in May 2021. In addition, Midea's entry into the stock exchange eclipses the last largest deal of the Hong Kong Stock Exchange with Chinese lithium battery manufacturer Calb, which raised $1.3 billion in October 2022.

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Investing.com

The filing indicates that Shenzhen-listed Midea has committed about 492.1 million shares to a Hong Kong offering. Midea securities began trading on the Hong Kong Stock Exchange under code 0300.

Midea Group specializes in the production of consumer electronics, heating and ventilation systems, air conditioners, etc. Midea has about 200 subsidiaries and more than 60 overseas branches. As Reuters notes, the group was previously ranked 278th on the Global Fortune 500,

Despite interest from institutional investors, the reaction of retail investors to the Midea IPO may be weakened by still pessimistic sentiment in the Hong Kong stock market, fears KGI Asia investment strategy chief Kenny Wen.

Until we see one or two major IPOs with a [significant] price hike allowing investors to cash in on the secondary market, the IPO market in Hong Kong will not improve much, the analyst said.[1]

Notes