No 37 billonaires He JianChun – Media home appliance

Writer:

#Blog, Information

Home Appliance OEM manufacturer, Midea Group, Chinese enterpriser

In 1968, He Xiangjian led 5,000 yuan(RMB), taking 23 people to start a business in Shunde, Guangdong.

Firstly they produced plastic bottle caps.

In 1980, it began to produce electric fans and entered the home appliance industry.

In 1981, the “Midea” brand was registered and used officially.

In 1985, it began to manufacture air-conditioning products.

In 1993, Midea Group was established and the internal shareholding system was reformed.

In the same year, the Electric Motor Company and the Rice Cooker Company were established.

In 2013, Midea Group became a listed company.

Midea Group’s main home appliances include household air conditioners, commercial air conditioners, large central air conditioners, refrigerators, washing machines, microwave ovens, fans, dishwashers, induction cookers, rice cookers, electric pressure cookers, soymilk makers, water dispensers, water heaters, air energy water heaters, and vacuum cleaners, heaters, electric kettles, ovens, range hoods, water purification equipment, air purifiers, humidifiers, stoves, disinfection cabinets, lighting, etc. and home appliance accessories such as air-conditioning compressors, refrigerator compressors, motors, magnetrons, transformers, etc. product. Now it has the most complete air conditioner industry chain, refrigerator industry chain, washing machine industry chain, microwave oven industry chain, and dishwasher industry chain in China.

Midea Group has more than 60 overseas branches around the world, and its products are sold to more than 200 countries and regions around the world. It has established 14 production bases in China and 6 overseas production bases. Midea Group’s overseas markets are mainly distributed in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. In 2009, when the economic crisis was the most serious, Midea’s operating income also maintained a growth rate of 5%, reaching 47.278 billion yuan.

Business method

  1. In the late 1980s, Midea Group chose OEM (OEM) as its first step towards the international market. Midea Group has its production bases in Shunde, Guangdong, and Vietnam as OEM processing plants. Most international home appliance brand has OEM at Media, as I know.
  2. Expand the product market through shareholding. This is a normal method of the group company, it is faster to acquire upstream and downstream companies, not only in China.
  3. Establish branches and production bases overseas. Up to now, Midea Group has established more than 60 overseas branches in the United States, Italy, the United Kingdom, Germany, France, and established 6 overseas production bases in Belarus, Egypt, Vietnam, Brazil. It is a basic need to set up branches for after-sales-service in different markets, especially for electric, mechanistic products.

In 2020, on June 15th, it was reported from the media that He Xiangjian, the founder of Midea, was held hostage, and He Xiangjian’s son He Jianfeng swam from the river next to his villa to the other side of the river to call the police. I heard this retired founder lived in the village house, he is low key and has a regular daily life, eat breakfast tea, and took golf. His son has opened a financial company, has related business with Midea.

I had visited many manufacturers in Shunde, China, from small, medium, big, huge factories. In my mind, the key point of home appliance is products exploded diagram, like as below:

If you want to OEM products in China, welcome to send email to:

Maggie.lee@mecosourcing.com

Thanks for your reading.

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