Established in 1968, Midea Group is a comprehensive and modern business conglomeration engaged mainly in the industry of household appliances, as well as the domains of real estate and logistics. The group is also one of the largest manufacturing and exportation bases of electric appliances in China.
In 1980, Midea entered into the household appliance industry. In 1981, the brand "Midea" was created and used. In 2001, Midea transformed into a private business. And in 2004, Midea procured the Hefei joint venture of Royalstar-Maytag (ROYALSTAR) and the Guangzhou Hualing group (HUALING), continuing on the way to become an electric appliance giant.
Midea Group currently has 70,000 employees, with a dozen brands including Midea and Welling. Apart from our headquarters in Shunde (Guangdong Province), we have also ten major production bases in Guangzhou (Guangdong), Zhongshan (Guangdong), Wuhu (Anhui), Wuhan (Hubei), Huai'an (Jiangsu), Kunming (Yunnan), Changsha (Hunan), Hefei (Anhui), Chongqing (Chongqing),Suzhou (Jiangsu), and Binh Duong Province (Vietnam) covering a total area of seven million square meters. Our marketing network covers all over the world, and we have a dozen branches in the United States, Germany, Japan, Hong Kong, South Korea, Canada and Russia.
Major products by Midea Group include household and commercial air-conditioners, large central air-conditioners, electric fans, electric cookers, refrigerators, microwave ovens, water dispensers, washing machines, electric heaters, dishwashers, induction cookers, water heaters, cooking stoves, sterilizers, electric chafing pots, electric ovens, vacuum cleaners, and small electric appliances, as well as related products such as compressors, motors, magnetrons, transformers, and enameled wires. We have the largest and most comprehensive industrial chain of air-conditioners and microwave ovens in China, in addition to the greatest and most integral industry cluster of small household and kitchen appliances in the nation.
Midea Group has always maintained a healthy, stable, and speedy development. The average speed of growth was 60% in the 1980's, and 50% in the 1990's.The annual development rate is over 30% on average since the commencement of the new century.
In 2005, Midea Group has had overall sales revenue of 5.7 billion dollars, with an increase of 40% over the previous year. The exportation has exceeded 1.76 billion dollars, with an increase of 65%. In the recent voting for "China's Most Valuable Products in 2005", the brand of Midea has been appraised at 3.402 billion dollars, up from 2.515 billion dollars in 2004, ranking No. 7 all over the country.
Looking into the future, Midea will continue with a stable and sustainable development, in a bid to establish an industrial pattern of diversity, large-scale, professional, regionalization, and differential management. With our healthy financial structure and the obvious edge in core competitiveness, we will be primarily able to allocate and deploy our resources around the globe. Taking the maximization of the overall enterprise value as the objective, we will further improve the structure and management of the enterprise, in order to be an international group of consumer electric appliances by the year 2010, with standard operation and management, a clear administrative structure, as well as an annual sales amount of over 12.5 billion dollars.
For the past 20 years or so, Midea has been regulating its strategies and tactics in face of changes in the market, and has developed from a local brand with a single product to an international one engaged in multiple sectors. Experience in the last two decades has made Midea an ingenious, adaptive, and innovative brand.
Enterprise principle: Creating a better life for humans
Midea endeavors to provide household appliances with the best cost performance to consumers. We make every effort to create a better life for humans, which features a top-grade environment and quality experience, with our human-oriented products and sincere services.
Enterprise vision: To become the world's most excellent manufacturer of household appliances
The vision of "becoming the world's most excellent manufacturer of household appliances" means our way and system are different .We would like to create products offering satisfaction, thus offering consumers greater amenity of life.
Core value of the brand:
Midea has been accompanying and growing with consumers through all the years, which has endowed us with the ability to better understand the needs of consumers in a profound and practical observations. With our innovative capability and flexible response, we are able to provide consumers with products and services to the greatest of their satisfaction, thus bringing them a more comfortable, easier, and better life
Midea's brand characteristics have very close relations with, and are a vivid representation of its core values. On the base of affinity, the core value gives the brand of Midea characteristics as follows: Curious, exploring, ambitious, and careful
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