Midea Group Hits Record High On Fortune Global 500 List

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Jul 20, 2018, 04:44 ET

FOSHAN, China, July 20, 2018 /PRNewswire/ -- On the evening of July 19th, the blockbuster Fortune Global 500 list was released. With a revenue of $35.794 billion, Midea Group ranked 323 in the Fortune Global 500, which marks the third year in a row that Midea was on this list. Midea rose 127 ranks this year compared to 2017, hitting a company high.

Founded in 1968, Midea has evolved into a global technology group, and this has been reflected by the Fortune Global 500 list over the past three years.

In 2008, as a group that originated in the traditional manufacturing industry, Midea found that the receding demographic dividend would bring great changes to the industry, so it turned to "smart manufacturing" and expanded into the international market. Today, Midea has successfully transformed from a group involved in a single industry to a global operation that spans multiple industries.

This year, Midea released the "New Era of Human-Machine Collaboration" strategy and announced their entry into Industrial Internet: integrating R&D, production equipment, supply chain, business, logistics and users terminals together. Midea has set the goal of realizing "zero-inventory" production, 100% logistics tracking management, and C2M customization. With the company's advantages in industrial robot manufacturing, Midea has focused on smart factories for years. Combined with the applications of AI technologies and big data, Midea is trying to capture more of the Chinese automation market, with the concept of combining high-end smart manufacturing and human-machine cooperation into broader industry applications.

Today, Midea provides more than 400 million products for the global market every year. With over 130,000 employees worldwide, a comprehensive layout of the white goods industry, and rapidly developed new industries, which shows exceptional coordination, Midea gradually completed a gorgeous transformation into technology enterprise from a traditional manufacturing one.

In this new era, the Midea Group remains ambitious. For a company with clear goal, being #323 on the Fortune Global 500 is just another starting point for Midea.