Midea Group Ranks 246th on Fortune Global 500

Midea Group has achieved the 246th spot on the Fortune Global 500 list, marking a significant climb of 31 places from its prior ranking. This placement signifies the company's tenth consecutive year on the list, highlighting its sustained presence among the world's largest corporations.

The company reported substantial growth for 2024. Revenue increased by 9.5% to RMB 409.1 billion, while net profit attributable to shareholders grew by 14.3% to RMB 38.5 billion. Operating cash flow reached a record high of RMB 60.5 billion, demonstrating Midea's resilience in a complex global economic environment.

Midea prioritizes research and development (R&D), investing over RMB 43 billion in the past three years. The recent inauguration of the Midea Global Innovation Campus in Shanghai further strengthens its global R&D network. As of year-end 2024, Midea held over 150,000 patents worldwide, including more than 5,000 invention patents granted in 2024 alone.

The company is also a benchmark in smart manufacturing, operating six Lighthouse Factories globally. Midea's overseas revenue accounted for over 40% of its total revenue in 2024, with its Own Brand Manufacturing (OBM) business growing by 35% year-on-year. Midea manages a portfolio of global brands, including Midea, Toshiba, and Comfee.