Zhitong Financial APP learned that according to the disclosure of Hong Kong Stock Exchange on April 29, Midea Group Co., Ltd. (hereinafter referred to as Midea Group) submitted to the main board of Hong Kong Stock Exchange, with CICC and Bank of America Securities as its joint sponsors. According to the prospectus, Midea Group is a global leading, technology driven supplier of smart home and commercial and industrial solutions. Through smart home business, the company provides consumers with various household appliances; Through commercial and industrial solutions, it provides various solutions for enterprise customers, such as home compressors and motors, commercial air conditioners, industrial robots and supply chain services. The company has been listed in the Fortune Global 500 for eight consecutive years. Its business covers more than 200 countries and regions. It has 33 research and development centers, 43 major production bases, and more than 190000 employees worldwide. The following table shows the highlights of the company's business: the company was founded in Shunde, China, in 1968, and continues to embrace innovation and change. Through endogenous development, strategic acquisition and joint venture cooperation, it has transformed from a single category and single country business to a multi category product and service, multi industry and globally operated technology group. Through this process, the company has made extraordinary achievements in many business fields. The key achievements are as follows (based on the Frost Sullivan report): the company is the world's largest household appliance enterprise in terms of sales volume and revenue in 2023, with a market share of 7.9% in terms of sales volume. In 2023, it will rank among the top three in the world in terms of sales of household air conditioners, washing machines, refrigerators, kitchen appliances and other household appliances, accounting for 23.7%, 14.2%, 10.5% and 6.0% of the market shares respectively. In the same period, the company also ranked among the top three in the world in terms of retail sales, with market shares of 21.1%, 12.5%, 7.7% and 4.6% respectively. Among them, the company ranked first in the fields of household air conditioners, kitchen appliances and other household appliances. According to the output in 2023, the company's home appliance compressor business ranks first in the global market, with a market share of 30.3%. The output of the household air conditioning compressor business also ranked first in the global market over the same period, with a global market share of 45.1%. According to the revenue in 2023, the company is the largest commercial air-conditioning provider in mainland China (14.3% market share) and the top five in the world (6.6% market share). Kuka Group, a subsidiary of the company, is one of the four largest industrial robot enterprises in the world. In 2023, the sales and revenue of heavy-duty robots will rank second, with market shares of 18.6% and 17.9% respectively. In terms of finance, in 2021, 2022 and 2023, the Company realized revenues of about 343.361 billion yuan, 345.709 billion yuan and 373.71 billion yuan respectively, and realized annual profits of about 29.031 billion yuan, 29.812 billion yuan and 33.747 billion yuan in the same period. Looking ahead, the company will continue to move forward around the four strategic axes of "leading technology, direct access to users, digital intelligence driven, and global breakthrough". The goal is to continuously develop commercial and industrial solutions business, build it as an important engine for the company's growth, and firmly commit to the continuous expansion of smart home business.
