According to reports, AO Smith's business in China has attracted potential buyers such as Midea and Hisense.

According to informed sources, some potential investors, including private equity firms, have expressed interest as American water heater manufacturer AO Smith evaluates its business in China. They said potential buyers include FountainVest Partners, TPG Capital, who are considering bidding hundreds of millions of dollars to acquire a controlling stake in the business. Qingdao household appliance and electronics manufacturer Hisense Group is also interested in making a bid. They said there may be other bidders as well.