Small Appliances Demonstrate the Capabilities of the Ki Cordless Kitchen Standard

Midea is excited to announce it will exhibit innovative prototype kitchen appliances during the consumer electronics industry’s largest tradeshow – CES 2023, January 5-8, 2023 in Las Vegas, NV. As part of the Wireless Power Consortium’s – a global standard development body for wireless power – booth (Tech West, Venetian Expo #53529), Midea’s prototype appliances, including a blender and electric kettle, will be displayed in the emerging Ki Cordless Kitchen which builds on the success of the Qi standard for wireless charging. The appliances are activated by special transmitters hidden beneath both glass induction cooktops as well as non-metal countertop surfaces to create a convenient, sleek, ultra-modern design for the kitchen. The appliances are then powered by inductive power transfer with no cords to get in the way.

“As the connected world continues to evolve, Midea is proud to be at the forefront of innovating by providing consumers with smart, connected solutions that serve a purpose in people’s everyday lives,” said Kurt Jovais, president of Midea America Corp. “The Wireless Power Consortium supports our mission and is revolutionizing the industry with its Ki Cordless Kitchen. We look forward to working together to elevate the at-home experience with smart technology in our users’ homes.”

This collaboration is built on proven technologies and guided by the Wireless Power Consortium whose members come together from all parts of the industry and all parts of the globe to create worldwide compatibility of all wireless chargers and wireless power sources.

“The Ki Cordless Kitchen standard eli minates the clutter of cords that come with small appliances, creating a more convenient, safer and sleeker designed kitchen,” said Paul Golden, Marketing Director, Wireless Power Consortium. “We’re excited to have Midea as part of our Ki Cordless Kitchen, a company with ground-breaking home appliances that homeowners rely on worldwide.”

The new Ki Cordless Kitchen wireless power standard is currently in development. More information can be found by visiting WirelessPowerConsortium.com/Kitchen. And for additional details on Midea and its entire portfolio of appliances, please visit Midea.com.

Midea on the Board of Connectivity Standards Alliance

Midea Group announces that it has joined the Connectivity Standards Alliance , becoming a new member of the Board of Directors, to live up to its vision of improving consumers’ lives through universal and interconnected technology. In this context, Midea Group hopes that more and more companies will join in supporting the integration with Matter, the unique protocol of the Connectivity Standards Alliance that allows the most diverse IoT devices and smart appliances to communicate effectively.By joining the Connectivity Standards Alliance team, Midea Group will be at the forefront of promoting collaboration between all consumer electronics and smart home appliance brands, so that everyone can experience universal connectivity. As an industry leader, it is imperative that all of our brands’ smart appliances work effectively in tandem with connected devices from other global brandsMidea Group joins the Connectivity Standards Alliance together with other important companies in the sector and will collaborate in the creation of a universal connectivity protocol for all operators in the sector. Founded in 2002, the Connectivity Standards Alliance has been a leader in creating global open standards like Matter, building the foundation and future of IoT. With a broad membership of more than 500 different companies contributing market-proven technologies and best practices, and the 29 companies on the Board of Directors, the members of the Connectivity Standards Alliance have worked together for nearly two decades to simplify and increase the compatibility of the ‘IoT and concretely improve people’s lives.

Midea starts work on new heat pump plant in Italy

Chinese home appliance maker Midea Group began construction of a new base for the production and research and development of heat pumps in Feltre, a town of Veneto in northern Italy, on Friday, aiming to help facilitate its international market expansion.

The new base, with an investment of 60 million euros ($58.75 million), is located inside a production area of Italy’s Clivet, a European leading company that designs, produces and distributes systems for cooling, heating, air ventilation and air purification for residential, commercial and industrial markets.

Midea acquired an 80 percent stake in Clivet in 2016, aiming to expand its presence in the European central air conditioning market

Midea hit by hackers

REvil says they breached electronics giant Midea Group
Hackers claim to have stolen around 400 GB of data, including firmware source code and financial data. If confirmed, the hit would be REvil’s biggest in months.

Notorious hacker cartel REvil, labeled dead for several months, appears to have come back to life. The group says it has breached Midea Group, a major Chinese electrical appliance manufacturer.Midea Group employs over 150,000 people, owns over 200 subsidiaries, and boasts a revenue of over $53 billion. The company claims to be ranked 245 on the Global Fortune 500 list.

The company owns a majority stake in German company KUKA, the world’s largest robots and appliances producer.

Midea financial report

Midea released its financial report for the first half of 2022, showing semi-annual revenue growth from 5.0% to RMB183.7bn. Net profit growth was even faster than revenue, coming in at RMB 16bn with a YoY 6.6% increase.

“China-Based Supply for the World + Local Supply”

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Balanced in both ToB and ToC businesses, Midea Smart Home revenue during the first half of 2022 was RMB126.9bn. According to AVC, Midea home appliance products ranked 1st during the first half of 2022 in both domestic online and offline market shares among 7 household appliance categories, including air conditioners and microwave ovens.

Industrial Technology achieved a revenue of RMB12.1bn with 13.3% YoY growth, and Midea’s global market of residential AC compressors increased to 44%, representing the 1st worldwide. The unit sales of motors for residential ACs and laundry appliances accounted for 42% of the global figures.

Midea growth

Growing by 20% in 2021, the Chinese group had a turnover of about 50 billion euros last year and invested over 7 billion in the last five years in Research and Development.

Midea in 245th place among the Fortune 500
Growing by 20% in 2021, the Chinese group had a turnover of about 50 billion euros last year and invested over 7 billion in the last five years in Research and Development.

Midea in 245th place among the Fortune 500
Midea climbs to 245th place in the 2022 version of the ranking of the world’s 500 largest companies drawn up annually by Fortune. The turnover of the Chinese group grew by 20.06% in 2021, reaching an all-time high of 343.4 billion yuan, equal to about 50 billion euros at the current exchange rate.

As reported in a press release from the group , Midea pursues the goal of “Technological Leadership” and accelerates its transformation based on technology in all sectors of intervention. In the home appliance under the banner of the ‘smart home’ you are committed to providing the best experience of appliances and services for the whole home through the use of IoT and AI technology.

The Midea Group employs 160,000 people, of which over 30,000 are outside China. Over the past five years, Midea has invested nearly 50 billion yuan (7.2 billion euros) in research and development and has 35 research and development centers and as many manufacturing bases around the world. Midea products and services are used and appreciated by 400 million consumers in over 200 countries and regions.

Midea to remain in appliance industry

Midea partially confirms the rumors that were circulating. It will proceed with disposals, plant closures and layoffs but not in the household appliances sector which remains one of the 5 divisions on which the Chinese giant (165,000 employees, 51 billion dollars in sales) intends to focus its future. The shareholders’ meeting on May 20, President Paul Fang announced that the company has decided to keep the home appliance business and to give up the categories of products for mom and baby and for pets.

The group is concentrating investments on B2B sectors with a higher technological content such as robots and industrial automation, batteries, technologies for construction

Midea Group

Midea Group published the 2021 annual report. Despite the pandemic’s numerous hurdles, we still achieved RMB29 billion in net profit, a YoY increase of 5.5%. The total revenue grew 20.2% in 2021, reaching an all-time high of RMB343.4 billion.

The Canton Fair is online until April 24, 2022

China Import and Export Fair, also known as Canton Fair, started its 131st edition that will be also online on April 24, 2022. As Xu Bing, spokesperson of the Fair, deputy director general of China Foreign Trade Centre, explained in the opening cerimony, Themed facilitating the “dual circulation” of domestic and overseas markets, the event is held from April 15-24 online. The exhibition offers an online display platform, business matchmaking services, and a cross-border e-commerce zone.

The electronic and home appliances exhibition zone hosts about 2,600 companies with 140,000 products. Among the protagonist brands, the event was attended by Haier, Hisense, Gree, Midea, Changhong, TCL, and others.

Midea Group as a pioneer in the 4th Industrial Revolution f

Midea Group Co., Ltd. was honoured as a pioneer of Industry 4.0 technologies with two factories, Midea Heifei and Midea Jingzhou, included in the Global Lighthouse Network of the World Economic Forum (WEF), showing the Group’s efforts in achieving both production efficiency and sustainability.

The Global Lighthouse Network is a community of production sites and value chains which are world leaders in the adoption and integration of the cutting-edge technologies of the Fourth Industrial Revolution (4IR). In total, Midea Group owns 4 WEF Lighthouse factories covering smart home appliances, which account for a relatively high proportion of the Group’s revenue.

“Our factory used to produce high-end and middle-end products at the same time, and our production faced a very big challenge,” commented Li Zhen, General Manager of Midea Jingzhou factory. “It was very inefficient in the traditional manufacturing way, and difficult to meet the needs of our consumers in time.”
Through the implementation of the digital and intelligent transformation measures, Midea Jingzhou lighthouse factory adopted flexible automation. loT and artificial intelligence with more than 2,000 digital transformation initiatives have increased labor productivity by 52%, and reduced production lead time by 25%, the failure rate by 53%, and the utility consumption per unit by 20%.

Midea washing machine factory in Hefei has also witnessed a similar revolution. The number of product SKUs exceeds 1,100 and the annual production and sales volume of Midea Hefei is also at the forefront. “Digitalization has driven the transformation of our entire business process, model and increased efficiency,” according to Zhang Zhimin, General Manager of the factory.

Targeting domestic high-end product segments and overseas market expansion, Midea Hefei Advanced 4IR Lighthouse factory widely deploys artificial intelligence and loT technologies across end-to-end value chains to form a faster response and more efficient supply chain, resulting in lead time reduction by 56%, customer report defect rate reduction by 36%, and labor productivity improvement by 45%. Also, it also helps to meet the goal of achieving carbon emissions peak in 2025 and net-zero in 2040.

In the future, Midea Group will continue to increase investment in digitalization, IoT, global breakthroughs and technological leadership and invest in new cutting-edge technologies,” said Simon Zhang, CIO of Midea Group.