TOPIC

/ company

Midea Group

The latest news, analysis and opinion on Midea Group. In-depth analysis, industry insights and expert opinion.

Chairman / President

Fang Hongbo

CEO / Managing Director

Fang Hongbo

CFO / Finance Director

Zhong Zheng

Industry

Home Appliances, Consumer Electronics

Website

midea.com

Headquarters address

Midea Headquarters Building, Beijiao, Shunde District, Foshan, Guangdong, China

Stock Code

SSE:000333

Year founded

1968

last updated:

30 September, 2024

People visit a booth for Chinese battery manufacturing giant CATL at Automechanika, a leading trade fair for cars, in Frankfurt, Germany, on September 11. Photo: Xinhua

US-China relations

US study finds China’s tech innovation ‘much stronger’ than understood

Performing best in nuclear power, EVs and batteries, mainland companies will ‘likely equal or surpass Western firms within a decade or so’.

25 Sep 2024 - 3:41PMvideocam

Banking & finance

Chinese e-commerce payment company seeks US$78 million in Hong Kong IPO

20 Mar 2024 - 10:31AM

IPO

Hong Kong bankers on ‘survival mode’ as IPO drought ends windfalls

12 Mar 2024 - 5:34PMvideocam

Hong Kong stock market

Hang Seng Index compiler leaves blue chip benchmark unchanged in latest review

No new companies will be added to the Hang Seng Index in March, leaving the total number of constituents unchanged at 82, according to the latest quarterly review by Hang Seng Indexes Company.

16 Feb 2024 - 8:10PM

A giant electronic monitor shows the Hang Seng Index in Hong Kong. Photo: Edmond So

Banking & finance

MSCI cuts dozens of Chinese stocks from global indices, raises India’s weightage

MSCI has cut dozens of Chinese stocks from its global benchmark indices in its February review. It added five stocks from India, which has the second-highest weightage in the MSCI Global Standard index, after China.

14 Feb 2024 - 8:47AM

Hong Kong stock market

Hong Kong IPOs: here’s what’s in store in 2024 after a miserable 2023

Hong Kong’s IPO ranking sank to the 8th this year. But analysts are confident the stock exchange can shrug off a dismal year, pointing to potentially lower rates next year and China’s policy boost for the economy.

30 Dec 2023 - 10:00AM

IPO

Cainiao, Midea, SF and Movoi among hotly anticipated Hong Kong IPOs of 2024

After a lacklustre year for fundraising in Hong Kong, market participants are pinning their hopes on a turnaround in the primary market, expecting companies to revive dormant IPO plans.

25 Dec 2023 - 10:00AM

There has been a death of IPOs on Hong Kong stock exchange in 2023. Photo: Yik Yeung-man

IPO

Hong Kong IPO: WuXi Biologics unit eyes up to US$520 million in biotech push

WuXi XDC, a 60 per cent-owned unit of WuXi Biologics, could raise as much as US$520 million, including excess share allotment, based on the top end of its IPO price range.

7 Nov 2023 - 2:30PMvideocam

IPO

China’s appliance giant Midea applies to list in Hong Kong

Midea Group, the world’s biggest home appliances maker, has submitted plans to list its shares in Hong Kong which analysts say could help attract more foreign investors as they could overcome the shareholding limits of the Stock Connect programme.

25 Oct 2023 - 10:07AM

IPO

Hong Kong ranks ninth globally for IPOs as fundraising hits 20-year low

A total of 42 companies raised US$3.13 billion in the first nine months, a 65% year on year drop in fundraising and the lowest since 2003, Refinitiv says. Investors and analysts hope for a fourth-quarter return of mega deals.

28 Sep 2023 - 6:02PM

A pedestrian passes by Exchange Square, home of the Hong Kong stock exchange, on July 14, 2023. Photo: AP

HKEX

HKEX to launch digital IPO platform FINI on November 22

Hong Kong Exchanges and Clearing, which operates Asia’s third largest stock market, will launch a long-awaited new digitalised IPO platform on November 22 in its latest push to reboot the city’s new listings market.

27 Sep 2023 - 6:32PM

Hong Kong’s Central business district. Besides shortening settlement times, FINI will have a new pre-funding model that will reduce the scale of locked-up funds in oversubscribed IPOs, HKEX says. Photo: Jelly Tse

IPO

Cainiao launches Hong Kong’s largest IPO of 2023 as it aims to raise US$1 billion

The filing by Hangzhou-based Cainiao comes at a crucial time for Hong Kong’s stock market, as its benchmark Hang Seng Index struggles to claw its way out of this year’s 11.7 per cent slump.

2 Oct 2023 - 12:28PM

IPO

6 Hong Kong share listings this week set to raise up to US$458 million

Tencent-backed car-services platform Tuhu and AI company Beijing Fourth Paradigm are among a series of listings expected this week as Hong Kong’s performance as a fundraising venue continues to disappoint versus past years.

25 Sep 2023 - 8:12PM

Banking & finance

Hong Kong IPO fundraising levels to hit an 11-year low in 2023: Deloitte

Hong Kong’s public fundraising environment is at its toughest in over a decade, as the global banking turbulence, high interest rates and slow recovery pace of mainland China’s economy bruised investor sentiment, according to Deloitte China.

22 Sep 2023 - 6:15PM

HKEX

Midea Group to file for US$1 billion Hong Kong IPO next month: sources

Midea Group, China’s world-leading home appliances giant, plans to file its listing application in Hong Kong as early as next month, which could raise more than US$1 billion in proceeds, people familiar with the matter said.

21 Sep 2023 - 8:31PM

He Xiangjian, the billionaire founder of Midea Group, is eyeing a dual listing in Hong Kong to help fund its global expansion. Photo: itouchtv.cn

IPO

China’s appliance maker Midea picks BofA, CICC for Hong Kong IPO

Based on its market value, Midea’s Hong Kong share sale could be among the largest in the city in recent years.

10 Aug 2023 - 5:39PM

China stock market

This Chinese stock’s 140 per cent rally is not done as heatwaves fuel profits

Air-conditioner maker Hisense has surged more than 140 per cent in Hong Kong this year, boosting its market value to US$4.3 billion. And the market-beating rally is only going to get better, analysts say.

26 Jul 2023 - 5:07PMvideocam

China technology

Midea’s billionaire founder He Xiangjian unveils US$248 million science fund

He Xiangjan said his eponymous fund ‘will help more scientists focus on their work and attract more youngsters to take part in technological advancement and innovation in the country’.

23 May 2023 - 2:30PMvideocam

He Xiangjian, founder and largest shareholder of home appliances giant Midea Group, wants China’s younger generation to to help shore up local scientific research. Photo: itouchtv.cn

Mergers & Acquisitions

China’s Midea buyout plan of Electrolux tests outbound acquisitions ability

Chinese home appliance giant Midea Group is considering acquiring Sweden’s Electrolux AB but would only want the buyout in a friendly deal, although thus far the target company has not been receptive to the proposal.

1 May 2023 - 3:51PM

China stock market

Chinese consumer stocks surge as eased Covid curbs release pent-up demand

Consumer companies have led a rally in China’s stocks since the easing of Covid-19 restrictions released pent-up demand, even as major cities experience a spike in infections.

14 Dec 2022 - 4:43PMvideocam

E-commerce

Healthy Singles’ Day presales for Alibaba, JD.com despite slow economy

Alibaba and JD.com, China’s leading e-commerce platforms, recorded robust sales during the first round of Singles’ Day shopping spree.

1 Nov 2022 - 8:00PMvideocam

An employee sorts packages for delivery ahead of the Singles’ Day shopping festival at Tianma E-commerce Industrial Park in Lianyungang, Jiangsu province on Tuesday. Photo: AFP

Alibaba

Hangzhou ditches ‘Alibaba Station’ in latest metro railway plan

The upcoming metro railway station no longer appears as ‘Alibaba Station’ in the Hangzhou government’s new plan.

6 Jul 2022 - 7:00PM

China society

Shanghai residents race to buy fridges, freezers storage to survive lockdown

Demand for supersized fridges has surged in Shanghai as many people try to hoard as much food as possible during the city’s ongoing lockdown.

14 Apr 2022 - 10:31AM

Electric & new energy vehicles

Midea joins China’s EV race with US$1.7 billion parts manufacturing venture

Midea, China’s biggest home appliances maker, is building a plant to produce EV components as the green-car industry gets ready for an exponential jump in sales.

17 Feb 2022 - 5:15PMvideocam

Beijing Winter Olympics 2022

Which unknown or household brands are riding on Eileen Gu’s fame?

The Winter Olympics has catapulted dozens of Chinese brands into the limelight, giving them unprecedented airtime to showcase their stuff on the world stage.

18 Apr 2022 - 5:20PMvideocam

Gold medalist Eileen Gu of China celebrates during the medal ceremony for the Women’s Freestyle Big Air in Beijing, on Tuesday. Photo: EPA-EFE

China property

China’s housing market wins friends as Foshan, other cities signal support

China’s beleaguered home developers are winning some friends among local government officials in Foshan and other smaller cities as policy moves turn favourable.

19 Jan 2022 - 7:30AMvideocam

Foshan skyline near in Qiandeng Lake Park Area in Nanhai District. Photo: Shutterstock Images

Greater Bay Area

Meet the new CFO who says appliance maker Midea is really a Xiaomi rival

Midea CFO Jeremy Choy, a former Hong Kong banker, says Midea is a technology company that competes in smart homes, robotics and industrial automation.

4 Nov 2021 - 10:23AMvideocam

Germany

As Angela Merkel’s exit looms, Germany’s ‘China city’ hopes for jobs boom

Duisburg, Germany’s ‘China city’, has long hoped that the surging export-import business would turn into larger investments bringing jobs to this town at the heart of Germany’s rust belt.

14 Sep 2021 - 6:14AM

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