Midea hits 245th on 2022 Fortune Global 500 through tech-driven transformation and overseas market breakthroughs

FOSHAN, China--(BUSINESS WIRE)--The 2022 Fortune Global 500 list has been announced with Midea Group listed on Fortune Global 500 for its seventh consecutive year, this time with its ranking moved up to No. 245.

This April, Midea Group published its 2021 annual report - the company's annual revenue grew 20.06% in 2021, reaching an all-time high of RMB343.4 billion.

Midea adheres to its strategic focus on “Technology Leadership”, and accelerates its technology-driven transformation.

For C-suite businesses, smart home is committed to providing the best experience of whole-house smart home appliances and services through using IoT and AI technology.

For B-suite businesses, Midea focuses on developing not only ToB business areas such as robotics and automation, building technologies, energy management, smart travel, and Midea Healthcare, but also further developing the transformation and upgrading of digital innovation business areas such as Annto, Midea Cloud.

In this approach Midea will strive to better realize its ultimate aim of evolving from a home appliance company into an innovation-driven technology group.

Midea Industrial Technology invests in green energy and high-precision products, and it operates brands such as GMCC, Welling, HICONICS, SERVOTRONIX, etc.

With its digital building service platform, Midea Building Technologies provides one-stop solutions that are intelligent, digital, and low-carbon.

The Robotics & Automation division focuses on providing solutions for industrial robotics, automatic logistics systems, and transmission systems for future factory-related fields, as well as solutions for health care, entertainment, new consumption, etc.

The Digital Innovation Business provides solutions and services for the digital transformation of enterprises.

In addition, Midea has been seeking breakthroughs in overseas markets; recently, COSCO-owned CSP Abu Dhabi signed an agreement with Midea on the joint construction of an overseas warehouse transit center in the Middle East, which will make it easier for international users to access Midea products.

Midea Group is proud to have a family of approximately 160,000 employees, including over 30,000 based overseas.

About Midea Group

Midea Group has upheld its philosophy of creating a better life through technology ever since its establishment 54 years ago. Over the past five years, Midea has invested nearly RMB50 billion in R&D, and has 35 R&D centers and 35 major production bases across the globe. Midea products and services are used and enjoyed by 400 million consumers in over 200 countries and regions.