Midea Group
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Midea Group

Midea Group
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
The rankings showed Apple with a 100-point score, while Huawei and Xiaomi notched scores of 95.3 and 95.1, respectively. Photo: Shutterstock
E-commerce

Apple, Huawei, Xiaomi lead China’s top-500 ranking of consumer brands, report finds

The rankings were based on domestic consumers’ online purchase behaviour, according to a Peking University report.

Hong Kong stock market

Midea, ZTO Express to join Hang Seng Index on June 9 after quarterly review

Robotics

Huawei, UBTech team up to bring humanoid robots to factories and homes

Robotics

China’s UBTech, Midea push humanoid robots into factories amid push for adoption

UBTech’s Walker humanoids are headed for a car plant, while Midea plans to have its own robots in an appliance factory by next month.

A demonstration of one of UBTech’s Walker-series humanoid robots during a media tour of the company’s offices in Shenzhen on April 23. Photo: Edmond So
Stocks

Tencent tops Chinese mutual funds’ holdings as Hong Kong stocks gain traction

Some 1,200 mainland Chinese mutual funds held a combined 151 million Tencent shares worth US$9.5 billion at the end of the first quarter.

China stock market

Chinese companies budget US$2.7 billion to defend stocks in bloodbath

More than 100 companies have announced buy-back plans, including PetroChina, Midea Group and CATL.

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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’.

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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
Banking & finance

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

LianLian DigiTech aims for a fifth of the US$500 million it originally sought a year ago, as market conditions continue to dampen investor sentiment.

IPO

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

Once a lucrative source of fees for investment bankers, new stock offerings have become a source of stress and job insecurity amid a slump in activity. For retail investors, those first-day windfalls are also harder to come by.

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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.

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.

An attendee tries a virtual reality headset during the Vibrant Gujarat Global Summit in Gandhinagar, Gujarat, India. Photo: Bloomberg
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.

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.

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.

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People work at the WuXi Biologics’ factory in Leverkusen, Germany, in this 2023 handout picture. Photo: Reuters
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.

A general view of Midea Group headquarters in Beijiao town, Shunde District, Foshan, Guangdong. Photo: Martin Chan
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.

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.

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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.

Cainiao Smart Logistics Network has grown into a US$13.7 billion concern alongside the explosion of e-commerce in mainland China. Photo: Handout
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.

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.

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.

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.

Midea’s booth during the 2020 World 5G Convention at Nan Fung International Convention & Exhibition Center in Guangzhou city on November 27, 2020. Photo: Getty Images.
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.

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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’.

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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.

A general view of Midea Group headquarters in Beijiao town, Shunde District, Foshan, Guangdong. 15APR17 SCMP / Martin Chan
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.

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Consumer stocks have benefited the most from China’s exit from its harsh zero-Covid policy because of pent-up demand. Photo: Reuters
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.

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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.

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