Midea Group

What does Midea own?
Midea owns home appliance brands including Midea, Toshiba Lifestyle, Little Swan, and Comfee. The company also owns KUKA (industrial robotics, acquired in 2016 for approximately EUR 3.7 billion), Clivet (commercial HVAC), and acquired Arbonia, Toshiba Elevator China operations, and Carestream Health's international business in 2025.

Is Midea publicly traded?
Yes, Midea Group is dual-listed on the Shenzhen Stock Exchange under ticker 000333.SZ and on the Hong Kong Stock Exchange under ticker 00300.HK. The Hong Kong secondary listing was completed in September 2024, raising approximately HKD 30.7 billion.

Who founded Midea?
Midea was founded in 1968 by He Xiangjian in Beijiao, Shunde District, Foshan, Guangdong, China. He started the business as a small workshop with 23 employees producing bottle caps and auto parts. He expanded into electric fans in 1980 and air conditioners in 1981. He Xiangjian remains the controlling shareholder but has not held an executive management role since 2012.

Where is Midea headquartered?
Midea Group is headquartered in Foshan, Guangdong, China. The company has maintained its headquarters in Foshan since its founding in 1968. Foshan is a major manufacturing center in the Pearl River Delta region of southern China.

How many brands does Midea own?
Midea owns multiple brands across home appliances and industrial technology. Key brands include Midea, Toshiba Lifestyle, Little Swan, Comfee, KUKA, Clivet, Arbonia, and Carestream Health. The company also manufactures compressors and motors through its Industrial Technology segment under the GMCC brand.

Who owns Midea?
Midea is controlled by founder He Xiangjian through Midea Holding Co., Ltd., a private holding company. Despite his controlling economic stake, He Xiangjian has not held an executive role since 2012. The company is managed by professional executives led by Chairman and CEO Fang Hongbo. Public shareholders hold the remaining economic interest through shares traded on the Shenzhen and Hong Kong stock exchanges.

What is Midea's revenue?
Midea reported revenue of RMB 458.5 billion in fiscal year 2025, up 12.1% from RMB 409.1 billion in 2024. Net profit attributable to shareholders was RMB 43.95 billion, up 14% year-over-year. The Smart Home Solutions segment generated RMB 299.9 billion, while Commercial and Industrial Solutions contributed RMB 122.8 billion.

What is KUKA?
KUKA is a German industrial robotics manufacturer acquired by Midea in 2016 for approximately EUR 3.7 billion. KUKA is one of the top four industrial robot manufacturers globally, serving automotive, electronics, and general manufacturing customers. The acquisition was controversial in Germany, and Midea committed to preserving KUKA's independence through 2023. KUKA is now fully integrated into Midea's Robotics and Automation segment.

Midea was founded in 1968 by He Xiangjian in Beijiao, a town in Shunde District, Foshan, Guangdong Province. He started the business as a small workshop producing bottle caps and auto parts with 23 employees. The workshop expanded into plastic parts and eventually into electric fan components in the 1970s.

In 1980, Midea began manufacturing complete electric fans under its own brand. The following year, the company started producing air conditioners, which would become its core product category. Midea registered its trademark in 1981. The company grew rapidly during China's economic reform period, benefiting from rising consumer demand for home appliances.

Midea went public on the Shenzhen Stock Exchange in 1993, becoming one of the first Chinese companies to list shares. The IPO raised capital that funded expansion into new product categories including refrigerators, washing machines, and rice cookers. By the late 1990s, Midea was one of the largest appliance manufacturers in China.

The 2000s marked Midea's international expansion phase. The company established manufacturing facilities in Vietnam (2007), and later in Thailand, Mexico, and other countries. Midea also began acquiring foreign brands and technologies. In 2007, Midea acquired a controlling stake in Little Swan, one of China's oldest washing machine brands, founded in 1958.

A major transformation occurred in 2016-2017 when Midea acquired three significant international businesses. The company acquired a 51% stake in Toshiba's home appliance business for approximately $470 million in 2016. Later that year, Midea acquired German robotics manufacturer KUKA AG for approximately EUR 3.7 billion ($4.5 billion), one of the largest Chinese acquisitions of a European technology company. Midea also acquired Clivet, an Italian HVAC manufacturer, in 2016.

The KUKA acquisition was controversial in Germany. Political figures including then-Economy Minister Sigmar Gabriel expressed concerns about German technology falling into Chinese hands. Midea committed to preserving KUKA's independence, management, and workforce through 2023. The commitment period has since expired, and Midea has integrated KUKA more closely into its robotics and automation segment.

Midea listed on the Hong Kong Stock Exchange in September 2024 through a secondary listing, raising approximately HKD 30.7 billion ($3.9 billion). The Hong Kong listing provided access to international capital markets and improved the company's profile among global investors. The primary listing remains on the Shenzhen Stock Exchange under ticker 000333.SZ.

In 2025, Midea achieved record revenue of RMB 458.5 billion, up 12.1% from 2024. The company completed three acquisitions during the year: Arbonia (Swiss HVAC and door systems), Toshiba Elevator China operations, and Carestream Health's international business. These acquisitions expand Midea's ToB business, which reached RMB 122.8 billion in revenue, up 17.5% year-over-year. The company's 2026 strategy focuses on core growth, reducing complexity, and comprehensive transformation under the leadership of Chairman Fang Hongbo.

Midea publishes an annual sustainability report aligned with its ESG framework. The company has committed to reaching carbon peak by 2030 and carbon neutrality by 2060, consistent with China's national climate targets. Midea has not set a net-zero target aligned with the Paris Agreement's 1.5 degree pathway.

The company reports that its HVAC products contribute to energy savings through inverter technology and high-efficiency compressors. Midea's Industrial Technology segment produces compressors and motors that meet increasingly stringent energy efficiency standards in China, Europe, and North America.

Midea has invested in green manufacturing, with several facilities certified to ISO 14001 environmental management standards. The company reports on water consumption, waste reduction, and energy efficiency at its manufacturing sites. However, Midea's sustainability reporting relies primarily on self-reported data without independent third-party verification of all metrics.

Labor practices at Midea's manufacturing facilities in China and overseas have drawn periodic scrutiny. The company employs approximately 190,000 people globally. Midea has stated that it complies with local labor laws in all operating jurisdictions and has implemented supplier codes of conduct. The company is not a Certified B Corporation.

The KUKA acquisition in 2016 generated political controversy in Germany. German political figures and labor unions expressed concern about technology transfer and job security at KUKA's Augsburg headquarters. Midea committed to preserving KUKA's independence, management board, and workforce through 2023. The commitment period expired in 2023, and Midea has since increased integration of KUKA into its robotics segment. German labor unions continue to monitor employment levels at KUKA facilities.

Midea has faced tariff risks in international markets, particularly in the United States and European Union. The company's manufacturing footprint in Vietnam, Thailand, Mexico, and other countries partially mitigates tariff exposure by diversifying production locations. In 2025, the company cited "constantly shifting tariffs" as a significant challenge for its overseas operations.

In China, Midea has benefited from government "trade-in" subsidy policies that encourage consumers to replace old appliances with new energy-efficient models. These subsidies drove domestic demand in 2025 but also intensified competition around pricing and customer acquisition. The company has not been subject to significant regulatory action regarding antitrust or market manipulation in China or international markets.