please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . march 2015 learn how and when to remove this template message this article may rely excessively on sources too closely associated with the subject potentially preventing the article from being verifiable and neutral . please help improve it by replacing them with more appropriate citations to reliable independent third party sources . march 2015 learn how and when to remove this template message learn how and when to remove this template message midea group midea headquarters in shunde guangdong type public company traded as szse 000333 industry electrical appliances founded 1968 founder he xiangjian headquarters beijiao shunde foshan guangdong china key people f ng h ngb paul fang chairman products household appliances revenue 22.17 billion usd 2015 number of employees 100 000 website midea global midea china midea group chinese ; pinyin m id j tu n is a chinese electrical appliance manufacturer headquartered in beijiao shunde foshan guangdong . as of 2013 the firm employs approximately 100 000 people in china and overseas across 21 manufacturing plants and 260 logistics centers across 200 countries . 1 midea group is listed on shenzhen stock exchange since 2013 . it has been listed on the fortune 500 since july 2016 . 2 3 midea produces wide ranges of lighting water appliances floor care small kitchen appliances laundry large cooking appliances and refrigeration appliances . it also has a long history in producing home and commercial solutions in air conditioning and heating hvac . in the summer of 2016 midea made a highly publicized move to acquire german robotics company kuka . 4 5 contents 1 history 2 products 3 projects 4 research & development 5 references 6 external links history edit starting with only cn 5 000 to open a workshop for the production of bottle lids in beijiao shunde in 1968 he xiangjian the founder of the company has since turned midea into one of the most successful private companies in china with sales revenue for the entire group declared at us 22.2 billion for 2011 . 1 after its initial period of manufacturing bottle lids and car parts the company focused on the manufacture of fully finished goods ; specifically electric fans beginning in 1980 . five years later midea produced its first air conditioner a product which remains as the core component of midea s business today . over the following 15 years though the company gradually expanded into a wide variety of other electrical home appliances including refrigerators washing machines microwaves . 6 in 1993 the subsidiary which handled the core businesses of the company known as gd midea holding proceeded with a public offering of shares on the shenzhen stock exchange . 6 the gd midea s parent company known today as midea group remained a privately held company . midea opened its first overseas production facilities in 2007 in the vietnam industrial park outside of ho chi minh city . this would mark the beginning of a period of international expansion for the company . in the very next year midea formed a manufacturing joint venture with belarusian microwave producer horizont in order to break into the various cis markets . 6 2010 would see the first of several overseas joint ventures between midea and american air conditioner manufacturer carrier corporation . their first joint venture is based in cairo egypt under the name of miraco carrier . the next year midea and carrier continued on this course forming a collection of closely networked joint venture companies in brazil argentina and chile and another one separately in india . 6 in august 2012 the board of midea group announced that the company s founder he xiangjian had informed them of his resignation as chairman of midea group . gd midea holding chairman and president paul fang was subsequently named as the new chairman of midea group . 7 by april 2013 the whole company including gd midea was publicly listed as midea group in shenzen stock market 000333sz . at the end of 2014 the chinese electronics giant xiaomi invested cn 1.2 billion around 200 million usd acquiring 1.2 % of midea group . despite being a small part of it this opened the door to future collaboration between the 2 companies making midea s stock grow more than 6 % in the day of the purchasing . 8 it is said that both companies want to set a strategic cooperation for the future internet of things also known as iot era . in 2016 midea made two major acquisitions the first of which was toshiba s home appliances business 9 followed by the even larger purchase of kuka the german robotics company . 4 5 products edit midea s mdv x vrf air conditioner midea s main business is producing home appliances and commercial air conditioners . it sells products domestically under its own name while the majority of its export business is as an oem and odm for many well known global brands . in recent years midea has begun launching its own brand in a growing number of foreign markets such as brazil argentina chile india egypt and most countries in southeast asia . 10 11 12 13 14 the company s main product category is air conditioners both residential and commercial . it manufactures other major home appliances such as refrigerators washing machines and dishwashers . midea also offers a wide range of smaller appliances such as microwave ovens kettles water dispensers and vacuum cleaners . 15 midea annually wins 40 design awards across a variety of reputable global design shows such as red dot 16 if 17 and other design competitions . beyond midea s eponymous brand name the company also employs a series of other brands . the little swan brand was adopted when midea acquired the little swan company in 2008 . little swan products are mostly laundry and refrigeration appliances . hualing is a brand used by midea for air conditioners and refrigerators and was also adopted in 2008 . mdv is one of the brands used by midea for its line of commercial air conditioners active since 1999 . projects edit during the last decade midea has landed several increasingly high profile projects peaking with the most recent wins to install large scale hvac solutions in all the 12 stadiums for the olympic games in brazil in 2016 18 19 20 as well as 9 of 12 stadiums for the world cup in brazil in 2014 . 21 22 research & development edit courtyard of midea s research and development institute recently midea has maintained a policy of scaling r & d by consistently reinvesting 3 % of company wide revenues back into research and development efforts . 1 in terms of intellectual property midea has been pursuing registration of its achievements in innovation more recently than before the number of patent and utility applications made by midea between 2000 and 2004 grew from 2 to more than 40 . 23 references edit a b c midea group overview . midea group . 1 january 2012 . midea group 481 . fortune . retrieved 2016 09 06 . group midea . midea enters fortune global 500 for the first time . www.prnewswire.com . retrieved 2016 09 06 . a b www.dw.com deutsche welle . berlin approves kuka sale to midea business dw.com 17.08.2016 . dw.com . retrieved 2016 09 06 . a b midea to spend billions on building industrial robots after buying kuka . robotics & automation news . 2016 08 11 . retrieved 2016 09 06 . a b c d midea group history . midea group . 1 january 2012 . midea founder and chairman resigns from midea group ; board of directors elects guangdong midea electric president as successor . midea group . 25 august 2012 . http www.forbes.com sites russellflannery 2014 12 15 homeward bound xiaomi appliance maker midea rises 6 on stake by hot china phone maker china s midea buys majority of toshiba s home appliance business . bloomberg.com . retrieved 2016 09 06 . midea carrier brazil . midea carrier argentina . midea carrier chile . carrier midea india . miraco carrier egypt . midea group products . midea group . 1 january 2012 . red dot award product design midea awards search . red dot.de . retrieved 2016 09 06 . if world design guide midea company summary . ifworlddesignguide.com . retrieved 2016 09 06 . midea carrier to provide hvac systems for brazil s new sports stadiums . www.midea.com . retrieved 2016 09 06 . midea equips all of brazil s new stadiums . retrieved 2016 09 06 . midea equips rio s 12 arenas . retrieved 2016 09 06 . midea carrier in the winner s circle for rio olympics climate control news . retrieved 2016 09 06 . midea equips all of brazil s new stadiums . retrieved 2016 09 06 . midea group profile internationalization r & d patents . chinese champions.com . retrieved july 15 2013 . external links edit wikimedia commons has media related to midea company . chinese website global website forbes list of 2000 top companies joint venture with carrier the template below szseci is being considered for deletion . see templates for discussion to help reach a consensus . v t e shenzhen stock exchange component index constitute stocks shenzhen development bank a china vanke a china merchants property shenzhen energy china international marine containers shenzhen zhongjin lingnan nonfemet zte overseas chinese town holding a weichai power financial street holding chenming paper midea electric appliances hongyuan securities luzhou laojiao jilin aodong medicine changan automobile panzhihua new steel and vanadium tongling nonferrous metals gree electric tianjin teda co. hesteel company yanjing beer xi an aircraft international corporation changjiang securities qinghai salt lake potash faw car taigang stainless steel citic guoan wuliangye yunnan copper shuanghui investment and development ansteel valin steel shen huo coal industry and electricity power jizhong energy resource yunnan tin xishan coal and electricity power suning commerce bank of ningbo goldwind science and technology retrieved from https en.wikipedia.org w index.php title midea company & oldid 741039837 categories shenzhen stock exchange component index constitute stockscompanies listed on the shenzhen stock exchangecompanies listed on the csi 300privately held companies of chinashunde districtcompanies based in foshancompanies established in 1968electronics companies of chinahome appliance manufacturershome appliance brandschinese brandshidden categories articles with a promotional tone from march 2015all articles with a promotional tonearticles lacking reliable references from march 2015all articles lacking reliable referencesarticles containing simplified chinese language textcommons category with local link same as on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces 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