About Midea Group
The Midea Group, with the vision of “bringing great innovations to life”, has upheld the philosophy of creating a better life with technology for 52 years since its establishment. Today, Midea has evolved into a sci-tech conglomerate, specializing in Smart Home Business Group, Electromechanical Business Group, HVAC &Building Division, Robotics &Automation Division, and Digital Innovation Business. Serving about 400 million consumers in over 200 countries and regions. Media has a number of well-known subsidiaries like Little Swan, TOSHIBA, WAHIN, BUGU, COLMO, Clivet, Eureka, KUKA, GMCC and Welling.
In 2019 the Midea Group generated the total operating revenue of 279.4 billion yuan ($39.2 billion), a rise 6.7% year on year, domestic revenue 58% and overseas revenue 42%, which rose by 8.2% and 5.8% respectively. Its net profit reached 25.3 billion yuan ($35.5 billion), a 16.8% year-on-year jump. The taxes turned over amounted to 19.8 billion yuan ($2.8 billion), a growth 13% year on year, and its investment in R&D exceeded 10 billion yuan ($1.4 billion). In 2020, Midea ranked the 307th among the Global Fortune 500, 36th among China’s Fortune 500 and 27th among Brand Finance Tech 100.
In 2021, facing the great changes of the times, Midea will re-focus on its strategy, adhere to the strategic focus of Technology Leadership, Direct to users, Digitization& Intelligence Driven, Global Impact, and further consolidate its business foundation. Midea will insist on facing the future, build innovation ability and R&D scale advantage; persist in user-centered and promote business transformation; insist on the driving of digitalization and intellectualization to promote structural upgrading, and insist on global operation and promote breakthroughs in overseas business.
Hardship and difficulties will only make us stronger. The Midea Group will remain true to its goals and press ahead with its dreams in mind despite great challenges, and will bring about a wave of reform and transformation on the basis of supply-side structural reform!
About Midea HBT
Midea HVAC & Building Technologies division, which was Midea Commercial Air Conditioning division before, now transforms into a comprehensive building solutions provider along with its businesses being expanded.
Established in 1999, Midea HBT has continued with the tradition of innovation upon which it was founded, and emerged as a global leader in the HVAC industry. A strong drive for advancement has created a groundbreaking R&D department that has placed Midea HBT at the forefront of a competitive field. Through these independent efforts and joint cooperation with other global enterprises, Midea has supplied thousands of innovative solutions to customers worldwide.
The three main self-owned brands selling Midea HVAC equipment to the global are Midea, MDV, and Clivet. Their wide range of products includes VRFs, large tonnage chillers, unitary, heat pumps, elevators, escalators, integrated solutions of building management system & week current system, selling to over 200 countries across the world.
Possessing four manufacture bases in the world, three in China and one in Italy, Midea is one of the most important manufacturers in the global HVAC industry. In China, Midea has the largest market share of 16%, which is No. 1. At the same time, Midea is also China's largest VRF exporter.
Over the past 20 years, Midea HBT business has maintained a steady trend of development. Nowadays, as a comprehensive building solutions provider, Midea HBT is dedicated to offer the professional products and services to customers in various industries all around the world.