Industry News

Midea to Maintain Focus on Overseas M&As After USD2.3 Billion Profit Last Year

Chinese home appliance maker Midea brought in almost CNY160 billion (USD23.2 billion) in revenue last year, up 14.7 percent on the year, according to its latest report. The firm netted nearly CNY16 billion in profits, up 16.4 percent on the year, while it acquired Japanese Toshiba Home Appliances...

Intelligent Manufacturing Replaces Humans at Home Appliance Makers' Factories

Rising employment costs have driven many labor-intensive Chinese household electric appliance factories to replace manual workers with machines. ‘Networked’ plants capable of expediting stock turnover and improving operating efficiency by integrating, user, research and development, supply chain...

China's home appliance giant Midea eyeing 'smart factory' market

Already a leader in air conditioners and washing machines, Chinese home appliance giant Midea has set its sights on a new industry: robots. Midea made the announcement at a strategy conference Wednesday held in the southern Chinese city of Guangzhou, days after its acquisition of German robotics...

Midea deals to push it up the value chain

The acquisition of a number of international intelligent automation solution makers will help develop new business growth for Midea Group, a traditional home appliance maker based in Guangdong province, according to a senior company executive. Gu Yanmin, vice-president of Midea, said the overseas...

Growing electronics segment eyes high-end products

Total output by China's electronic information sector－producing products ranging from smartphones, laptops to routers and LCD panels－increased by 10 percent year-on-year in 2016. That was about 4 percentage points higher than the rate of overall industrial output, the China Information Technology ...