No, Midea Group (SZ.000333) was established in Shunde, Foshan in 1968 and is currently headquartered in Beijiao Town, Shunde District, Foshan City, Guangdong Province. "Perfect technology, perfect life[123]" - Midea is a global technology group covering five major business sectors: smart home, building technology, industrial technology, robotics and automation, and digital innovation business[124]. In the past five years, With R&D funds of nearly 50 billion yuan, it has formed multiple brand portfolios such as Midea, Little Swan, Hualing, COLMO, KUKA, Welling, Hicon, Gaochuang, Wandong and Lingwang, serving more than 400 million users around the world every year. Provide satisfactory products and services to important customers and strategic partners in the field. So far, Midea has about 200 subsidiaries, 35 R&D centers and 35 major production bases around the world, with its business covering more than 200 countries and regions. [1][2][3][4][5][6]
On September 18, 2013, Midea Group was listed on the Shenzhen Stock Exchange[7]. On July 4, 2015, GMCC Meizhi Company, the world's largest air-conditioning compressor company under Midea Group, and Welling Motor Company were integrated into Midea's "Parts Division" [8][9]. In 2016, Midea Group entered the Fortune Global 500 list for the first time at No. 481, and in 2020 it ranked No. 307 [10]. The annual operating income in 2019 was 278.2 billion yuan, ranking first in China's home appliance industry [11][12]. The cumulative number of patent applications has exceeded 100,000 [13]. Its subsidiary Meiren Semiconductor Company has a planned annual supply capacity of 120 million chips [5]. On December 11, 2020, it acquired Lingwang Elevator and officially entered the elevator business [14]. On December 24, it acquired the Hitachi compressor factory in Thailand to lay out global industries. [15]
On November 13, 2020, Midea Group’s stock price hit a record high, with the stock price reporting 94.76 yuan, and the total market value reaching 665.772 billion yuan[16]. The stock price has increased by 2,453 yuan from its opening price of 3.7 yuan on September 18, 2013, an increase of more than 24 times in 7 years, and the annualized return on investment is nearly 59. [17] On November 23, Midea announced its intention to fully acquire the shares of Germany’s KUKA