Midea

COMPANY BIO

Midea Group, founded in 1968 is a Chinese manufacturer of appliances for both household and commercial applications. It is an industry of manufacturing and engineering. Its business segments include large appliances, a water kitchen, heating HVAC, electrical as well as logistical appliances. Some of its other products include fans, air conditioners, rice cookers, microwaves, ovens, vacuum cleaners, humidifiers, washing machines and dehumidifiers. Their main office is registered on the Shenzhen Stock Exchange in Beijiao Town of Shunde District Foshan, Guangdong. Approximately 166,000 people work there. Midea rose to No. 245 on the 2022 Fortune Global 500 list and No. 36 on the 2022 Brand Finance Tech 100 list. Among the 10 rankings on the list were China State Construction, Midea Group and Chinese Academy of Sciences. As of January 3, 2023; Midea Group was the largest Chinese and eighth-largest global company with a total number of patents being at 64,895

REVENUE

Midea Group, a well-known Chinese conglomerate, has shown the ability to do dynamic with its annual revenue for the past decade and thereafter. In 2010, the net earnings of this company were $15.45bn. These years can be grouped in sub-periods - with the bulk of earnings collected in some years after which the following years see growth slowing down to a minimum. Midea Group achieved remarkable growth planning between 2011 and 2017, when the company started earning $20.82 billion from Assets and this amount increased to $36.03 billion worth of revenue which means an increase of 50.52% of the initial assets value. In contrast to the previous year, 2021 proved to be an even more profitable opportunity for the company as its revenue surged to $53.07 billion within the given time. This significant rise is indeed a 27.65% growth rate compared to the previous year. Despite drops at times, Midea Group's revenue has a fair tendency to be on the rise and hence becomes obvious that through the process of embracing shifts and corporating in market dynamics, Midea has managed to strengthen its position in the global market.

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