Singapore
On July 29, the 2025 Fortune Global 500 list was officially unveiled, with Midea Group ranking 246th — a significant leap of 31 places — marking its tenth consecutive year on this pinnacle of global business recognition.
Amid the complexities of a new global economic cycle, Midea has steadfastly advanced its business strategy of “driving growth through simplification and confronting challenges through self-disruption.” In 2024, the company achieved revenue of RMB 409.1 billion, up 9.5% year-on-year; net profit attributable to shareholders reached RMB 38.5 billion, up 14.3% year-on-year; and operating cash flow hit a record high of RMB 60.5 billion — delivering solid results that underscore the resilience of Made in China.
Technological Leadership: Driving Core Competitiveness through R&D and Innovation
Midea places great emphasis on R&D investment and the global deployment of technological innovation, positioning “Technological Leadership” as a core strategic pillar. Over the past three years, the company has invested more than RMB 43 billion in R&D. On July 21, the Midea Global Innovation Campus in Shanghai was officially inaugurated, further strengthening its “2+4+N” global R&D network.
Technological Industrialization
The world’s first helium-free superconducting MRI system now serves medical institutions in 30 countries; the 130°C ultra-high-temperature industrial heat pump has been included in China’s National Energy-Saving Technology Promotion Catalogue; and innovative products such as the DeepSeek AI Air Conditioner are spearheading transformative change across the industry.
Patent Strength
As of the end of 2024, Midea held over 150,000 patents worldwide, with 11,000 new patents granted in 2024 alone — including more than 5,000 invention patents — ranking among the top ten home appliance companies globally.
Benchmark in Smart Manufacturing
Midea operates six Lighthouse Factories worldwide — including the Midea Building Technologies Chongqing facility, the world’s first end-to-end, fully AI-enabled Lighthouse Factory in the central air-conditioning industry — along with 37 national-level Green Factories.
Frontier Exploration
The National Key Laboratory for High-End Heavy-Duty Robotics (Midea Blue Orange Lab) has achieved breakthroughs in core technologies such as RV reducers. Two self-developed humanoid robots, MELo and MELa, have officially entered the smart manufacturing sector.
Global Breakthrough
Enhancing Quality and Efficiency Across the Entire Overseas Value Chain
In 2024, overseas revenue accounted for over 40% of Midea’s total, with its OBM (Own Brand Manufacturing) business growing 35% year-on-year — achieving a full value chain global expansion encompassing technology, manufacturing, and branding.
Multi-Brand Portfolio
Adhering to its “OBM-First Strategy,” Midea’s OBM revenue accounted for 43% of its overseas smart home business in 2024, establishing a global presence featuring three full-category brands — Midea, Toshiba, and Comfee — alongside 13 specialized brands in niche categories, including Carrier and Eureka, working in synergy.
Deepening Localization
With 60 manufacturing bases worldwide, Midea inaugurated its Minas Gerais facility in Brazil — witnessed by President Lula — creating over 2,000 local jobs. The company also established its Asia-Pacific headquarters in Thailand and a branch in Saudi Arabia, while earning the title of “No. 1 Air-Conditioning Brand in Latin America.”
Scenario-Based Innovation
In Europe, Midea launched the PortaSplit, the world’s first DIY portable split air conditioner, solving installation challenges; in North America, it introduced a modular cold-climate heat pump designed to meet regional heating regulations — precisely catering to local market needs.
Sports Marketing
Midea sponsored the Africa Cup of Nations, the CONCACAF Gold Cup, and AFC tournaments, reaching over 2 billion fans worldwide and deepening emotional connections with its brand.
Talent Development
Building a High-Caliber Workforce
Guided by its Technological Leadership strategy, Midea will continue to enhance the talent structure of its R&D teams by attracting more leading experts and nurturing outstanding young talent. Through the development of a global R&D system and the establishment of a world-class talent acquisition mechanism, the company has brought in dozens of strategic cooperation experts, set up multiple academician workstations, and undertaken joint scientific and technological research.
Supported by Midea’s global market expansion and comprehensive job rotation programs, the company actively fosters deep talent engagement in localized operations, cultivating more high-quality professionals with an international perspective and diversified skill sets — enabling them to create unique value on Midea’s global stage.
A Decade of Transformation
From Home Appliance Manufacturer to Global Technology Group
Since its debut on the Fortune Global 500 in 2016, Midea has undergone a strategic transformation into a global technology group:
In 2024, the company’s revenue surpassed RMB 400 billion, sustaining growth across economic cycles. Its B2B business exceeded RMB 100 billion for the first time, with sectors such as energy, robotics, and healthcare emerging as a second growth engine. Through a multi-brand approach, Midea has completed international acquisitions including KUKA, Toshiba Home Appliances, Teka, and ARBONIA Climate, achieving technology-market synergies and building a global network spanning four continents.
Committed to social responsibility, Midea has been listed on the Fortune China ESG Influential Companies list for three consecutive years. Its Hefei washing machine plant earned international carbon-neutral certification, while the East China Normal University Affiliated Midea Senior High School will open this September, enrolling its first 200 students and ultimately offering 1,800 high-quality high school placements.
Under its business philosophy of “driving growth through simplification and confronting challenges through self-disruption,” Midea is navigating economic cycles at full speed — with technological innovation as its vessel and a global vision as its sail.
Looking ahead, Midea will continue to advance its strategic pillars of Technological Leadership, Direct-to-User Engagement, Digital Intelligence, and Global Breakthroughs, maintaining a balanced focus on both B2C and B2B sectors. The company will increase R&D investment, further refine its global network, drive intelligent manufacturing upgrades internally, and empower the value chain externally.
From setting out in wind and rain to reaching every corner of the globe, Midea will keep pursuing and writing its next great story.