The Zhitong Finance App learned that according to the Hong Kong Stock Exchange disclosure on April 29, Midea Group Co., Ltd. (hereinafter: Midea Group) submitted a statement on the main board of the Hong Kong Stock Exchange, with CICC and Bank of America Securities as co-sponsors.

According to the prospectus, Midea Group is a leading global provider of technology-driven smart home and commercial and industrial solutions. Through the smart home business, the company provides consumers with all kinds of household appliances; through commercial and industrial solutions, it provides enterprise customers with various solutions, such as home appliance compressors and motors, commercial air conditioning, industrial robots and supply chain services. The company has been on the Fortune 500 list for eight consecutive years. It operates in more than 200 countries and regions, has 33 R&D centers, 43 major production bases around the world, and has more than 190,000 employees worldwide.

The following table shows the company's business highlights:

The company was founded in Shunde, China in 1968 and continues to embrace innovation and change. Through endogenous development, strategic acquisitions, and joint ventures, it has transformed and upgraded from a single-category, single-country business to a technology group with multiple categories of products and services, multiple industries, and global operations.

Through this process, to this day, the company has achieved extraordinary results in many business areas. Key achievements include the following (each according to the Frost & Sullivan Report):

Based on sales volume and revenue in 2023, the company is the world's largest home appliance company, with a market share of 7.9% in terms of sales volume. In 2023, in terms of sales, household air conditioners, washing machines, refrigerators, kitchen appliances and other household appliances all ranked among the top three in the world, accounting for 23.7%, 14.2%, 10.5%, and 6.0% market shares respectively. In the same period, in terms of retail sales, the company also ranked among the top three in the world in terms of retail sales, with market shares of 21.1%, 12.5%, 7.7% and 4.6% respectively. Among them, household air conditioning and kitchen appliances and other household appliances ranked first.

According to the 2023 production calculation, the company's home appliance compressor business ranked first in the global market, with a market share of 30.3%. The household air conditioning compressor business also ranked first in the global market during the same period, with a global market share of 45.1%.

According to 2023 revenue, the company is the largest commercial air conditioning provider in mainland China (market share 14.3%) and the world's top five (market share 6.6%).

The KUKA Group, a subsidiary of the company, is one of the four largest industrial robot companies in the world. In 2023, the sales volume and revenue of heavy-duty robots ranked second, with market shares of 18.6% and 17.9% respectively.

On the financial side, in 2021, 2022, and 2023, the company achieved revenue of approximately RMB 343.361 billion, RMB 345.709 billion, and RMB 373.71 billion respectively. During the same period, it realized annual profits of approximately RMB 29.031 billion, RMB 29.812 billion, and RMB 33.747 billion, respectively.

Looking forward to the future, the company will continue to advance around the four strategic axes of “leading technology, direct user access, digital intelligence drive, and global breakthrough”. The goal is to continue to develop the commercial and industrial solutions business, make it an important engine for the company's growth, and firmly commit to the continuous expansion of the smart home business.