The announcement said that the company is a global technology group covering smart home, industrial technology, building technology, robotics and automation and other innovative businesses, based on the needs of the company to deepen the global strategic layout, the company is issuing securities overseas (H shares) and listing matters for the preliminary demonstration. Under the premise of meeting the relevant requirements of overseas regulators, the scale of the proposed issuance is expected to not exceed 10% of the total share capital of the company after the issuance.

The announcement also said that whether the company will implement the aforementioned issues, as well as the specific implementation plan, implementation method and completion time are still significant uncertainties, the company will strictly comply with the requirements of the Shenzhen Stock Exchange Listing Rules and other regulatory rules, fulfill the obligation of information disclosure, and effectively protect the interests of the company and all shareholders.

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According to its official website, Midea was founded in 1968 and has a portfolio of brands such as Midea, Cygnet, Hualing, COLMO, Kuka, Welling, Hekang, Gaochuang, Wandong and Ring-Wang. In 1992, the joint-stock reform was carried out, and the following year, it was listed on the Shenzhen Stock Exchange, becoming the first listed company in China that was restructured from township enterprises and had a modern management system. In 2013, Midea Group was listed as a whole. To date, Midea has about 200 subsidiaries, 35 research and development centers and 35 major production bases around the world, covering more than 200 countries and regions.

According to the financial report of the United States Group, the total operating income last year was 345.7 billion yuan, an increase of 0.68%, and the net profit attributable to the parent company was 29.6 billion yuan, an increase of 3.43%. In the first quarter of this year, the revenue reached 96.26 billion yuan, an increase of 6.51%. Net profit attributable to the parent was 8.04 billion yuan, up 12.04% year on year.

The United States Group in 2022 operation is very challenged, from the 2022 financial data, the United States Group in 2022 revenue growth hit a six-year low, net profit growth is the lowest since 2013.

Midea Group said in the announcement that the business situation in 2022 is still grim, affected by macro factors and overseas geopolitical conflicts, the domestic and foreign political and economic environment is more complicated, while the upstream supply chain is tight, and the prices of bulk raw materials such as copper and aluminum are still high and volatile. Midea implements the annual operating principle of “reasonable income and profit recovery” with profit as the core, quickly adjusts the layout at the beginning of 2022, focuses on core businesses and products, returns to the essence of business, and through unremitting efforts, takes