New stock news: Midea Group Co., Ltd. holds a global market share of 7.9% in the household appliances market through a hearing on the main board of the Hong Kong Stock Exchange.

According to the news from the Hong Kong Stock Exchange on August 30, Midea Group Co., Ltd went through a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC and Bank of America Securities as its joint sponsors. The prospectus shows that Midea Group Co., Ltd is a globally leading, technology-driven provider of intelligent home and commercial and industrial solutions. Through its smart home business, the company provides various household appliances to consumers; through commercial and industrial solutions, it offers various solutions to enterprise customers, such as home appliance compressors and motors, commercial air conditioning, industrial Siasun Robot & Automation, and supply chain services. The company has been listed on the Fortune Global 500 list for nine consecutive years, with operations in over 200 countries and regions, 33 R&D centers, and 43 main production bases worldwide, with over 190,000 employees. During the reporting period, most of the company's revenue came from the sale of household appliances in the smart home business. Through this journey, Midea Group Co., Ltd has achieved remarkable success in multiple business areas. Key achievements are as follows (according to Frost & Sullivan reports): - Based on sales volume and revenue in 2023, the company is the world's largest home appliance company with a 7.9% market share. In 2023, based on sales volume, the company ranked in the top three globally in the household air conditioning, washing machine, refrigerator, and kitchen and other household appliances categories, with market shares of 23.7%, 14.2%, 10.5%, and 6.0% respectively. In the same year, based on retail sales, the company also ranked in the top three globally in these four categories, with market shares of 21.1%, 12.5%, 7.7%, and 4.6%, respectively, ranking first in household air conditioning and kitchen and other household appliances. - Based on production volume in 2023, the company's household appliance compressor business ranks first in the global market with a market share of 30.3%. The company's household air conditioning compressor business production volume also ranked first globally in the same period, with a market share of 45.1%. - Based on revenue in 2023, the company is the largest commercial air conditioning provider in mainland China (with a market share of 14.3%) and the top five globally (with a market share of 6.6%). - The company's subsidiary, Kuka Group, is one of the top four global industrial Siasun Robot & Automation companies. In 2023, Kuka Group ranked second in sales volume and revenue in heavy-duty Siasun Robot & Automation, with market shares of 18.6% and 17.9% respectively. Looking ahead, Midea Group Co., Ltd will continue to advance around the four strategic axes of "Leading Technology, Direct to Customers, Data-Driven, Global Breakthrough." The company's goal is to continue developing its commercial and industrial solutions business as a growth engine and firmly commit to the continuous expansion of its smart home business. Financially, as of April 30 in 2021, 2022, 2023, and the first four months of 2024, Midea Group Co., Ltd's revenue was approximately CNY 343.36 billion, 345.71 billion, 373.71 billion, and 145.78 billion respectively, with profits for the same periods at approximately 29.03 billion, 29.81 billion, 33.75 billion, and 13.46 billion yuan.