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Midea is a privately owned company in Shunde, Foshan City, Guangdong Province, China, owned by Mr. He Xiangjian.
Meiji started out as a fan manufacturer.
Founded in 1968, Midea Group is a large-scale comprehensive modern enterprise group mainly engaged in home appliances, real estate, logistics and other fields, and is one of the largest home appliance production bases and export bases in China.
In 1980, Midea formally entered the home appliance industry; in 1981, it began to use the Midea brand; in 2001, Midea was transformed into a private enterprise; in 2004, Midea acquired Hefei Rongshida and Guangzhou Hualing, and continued to make home appliance industry bigger and stronger.
At present, Midea Group employs 70,000 people and owns more than 10 brands such as Midea and Welling, etc. In addition to its headquarters in Shunde, it also has ten production bases in Guangzhou, Zhongshan, Wuhu, Anhui Province, Wuhan, Hubei Province, Huai'an, Jiangsu Province, Kunming, Yunnan Province, Changsha, Hunan Province, Hefei, Anhui Province, Chongqing, Jiangsu Province, etc., with a total land area of 7 million square meters; the marketing network spreads throughout the country, and in the U.S.A., Germany, Japan, Hong Kong, South Korea, Canada and the United States. The marketing network covers all over the country, and has 10 branches in the United States, Germany, Japan, Hong Kong, Korea, Canada, Russia and other places.
The main products of Meishi Group include household air conditioners, commercial air conditioners, large-scale central air conditioners, fans, rice cookers, refrigerators, microwave ovens, water dispensers, washing machines, electric heaters, dishwashers, induction cookers, water heaters, stoves, sterilizers, hotplates, electric ovens, vacuum cleaners, small appliances and other household appliances of all sizes, as well as supporting products for household appliances, such as compressors, motors, magnetron tubes, transformers, and enameled wires. China's largest and most complete air-conditioning industry chain and microwave oven industry chain, with China's largest and most complete small home appliances and kitchen appliances industry cluster.
In August 2005, the Ministry of Commerce announced the "2004 China's largest exports of 200 enterprises" list, Midea ranked 57th. September 2005, the National Bureau of Statistics, China's industry enterprise information dissemination center announced the "2004 China's largest 500 large enterprises (groups) In September 2005, the National Bureau of Statistics China Industry Enterprise Information Release Center announced the "2004 China's largest 500 large enterprises (groups)", Midea was ranked 59th.
While maintaining high growth, Midea Group has also made positive contributions to local economic development, paying more than 5.8 billion yuan in taxes from the 1990s to the present, and donating more than 70 million yuan to social welfare and education.
Midea Group has been maintaining a healthy, stable and rapid growth. the average growth rate of 60% in the 80's and 50% in the 90's. Since the new century, the average annual growth rate of 50% has been maintained. Since the new century, the average annual growth rate has exceeded 30%.
In 2005, the Midea Group as a whole realized sales revenue of 45.6 billion yuan, an increase of 40% year-on-year, of which exports exceeded 1.76 billion U.S. dollars, an increase of 65% year-on-year. In the recently announced "2005 China's most valuable brands" assessment, Midea's brand value has jumped from 20.118 billion yuan in 2004 to 27.215 billion yuan, ranking seventh in the country's most valuable brands.
Looking ahead, Midea will continue to develop steadily, forming an industrial pattern of industrial diversification, development scale, operational specialization, business regionalization and management differentiation. It has a healthy financial structure and obvious core competitive advantages, and initially has the ability to deploy and use resources on a global scale. With the goal of maximizing the overall value of the enterprise, we will further improve the organizational structure and management mode, and strive to become an international consumer electrical appliances manufacturing enterprise group with standardized operation and management, clear governance structure, and annual sales exceeding RMB 100 billion in 2010.