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Midea climbs 31 places on Global Fortune 500
2017/09/05
2017-09-02
    The home appliance giant is now at #450 after last years’ again double digit growth of 16 percent
 
    Guangdong, China, 7 August 2017 -- Midea (Midea Group Co Ltd, SZSE 000333), the world’s largest home appliance company and #1 major appliances producer, has risen to #450 on on the global Fortune 500 list, up from #481 last year when the company became the first company from the Chinese household appliances industry to enter the list.
 
    Midea achieved operating revenue of RMB 159.8 (USD 24) billion in 2016, a year-on-year increase of 16 percent, and net profit of RMB 15.9 (USD 2.4) billion.
 
    “Also during the last 12 months Midea continued to advance its strategy of pivoting towards an efficiency-driven, global operation producing more advanced and innovative products in the home appliances industry. We are also switching from traditional product exportation from China to operating locally in key markets,” said Andy Gu, Vice President at Midea Group.
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