Olympus Split AC 31400 BTU Cold Only MSTL36CRN3MB White

OverviewMidea Group is a Chinese electrical appliance manufacturer, headquartered in Beijiao town, Shunde District, Foshan, Guangdong and listed on Shenzhen Stock Exchange. As of 2018, the firm employs approximately 135,000 people in China and overseas with 200 subsidiaries and over 60 overseas branches.[2] Midea Group is listed on Shenzhen Stock Exchange since 2013. It has been listed on the Fortune Global 500 since July 2016.[3][4] Midea produces lighting, water appliances, floor care, small kitchen appliances, laundry, large cooking appliances, and refrigeration appliances. It also has a long history in producing home and commercial products in heating, ventilation and air conditioning (HVAC). In the summer of 2016, Midea made a highly publicized move to acquire German robotics company KUKA.[5][6] It is the world's largest producer of robots and appliances.[7] Starting with only CN¥5,000 to open a workshop for the production of bottle lids in Beijiao, Shunde in 1968, He Xiangjian (Chinese: 何享健), the founder of the company, has since turned Midea into one of the most successful private companies in China, with sales revenue for the entire Group declared at US$ 22.2 billion for 2011 financial year, as well as listed on the main board of the Shenzhen Stock Exchange.[8][non-primary source needed]After its initial period of manufacturing bottle lids and car parts, the company focused on the manufacture of fully finished goods; specifically, electric fans beginning in 1980. Five years later, Midea produced its first air conditioner, a product which remains the core component of Midea's business today. Over the following 15 years though, the company gradually expanded into a wide variety of other electrical home appliances, including refrigerators, washing machines, and microwave ovens.[9][non-primary source needed]In 1973, the subsidiary which handled the core businesses of the company, known as "Guangdong Midea Electric", proceeded with a public offering of shares on the Shenzhen Stock Exchange.[9] The Guangdong Midea Electric's parent company, known today as "Midea Group", remained a privately held company at that time.Midea opened its first overseas production facilities in 2007, in the Vietnam Industrial Park outside of Ho Chi Minh City. This would mark the beginning of a period of international expansion for the company. In the very next year, Midea formed a manufacturing joint venture with Belarusian microwave producer Horizont (rus.), in order to break into the various CIS markets.[9][non-primary source needed]2010 would see the first of several overseas joint ventures between Midea and American air-conditioner manufacturer Carrier Corporation. Their first joint venture is based in Cairo, Egypt, under the name of Miraco Carrier. The next year, Midea and Carrier continued on this course, forming a collection of closely networked joint venture companies in Brazil, Argentina and Chile, and another one separately in India.[9][non-primary source needed]