Midea Saw Sales of RMB 75 Billion in 2007

According to the latest news from Midea Group recently, the sales revenue of Midea stood at RMB 75 billion in 2007, up 30% on a year-on-year basis, of which, 3.12 billion came from export, up 40% on a year-on-year basis. The brand value of Midea also leaped to RMB 37.829 billion, ranking seventh among the China's most valuable brands. "The year 2008 will be a crucial year for Midea to promote business globalization," said He Xiangjian, the Chairman of the Board of Directors of Midea Group. "We will set up global business strategy and with global perspectives, positively facilitate the globalization of property right, service, product, brand and talent."
The year 2007 has seen accelerated globalization, fast integration in the world household electrical appliance industry, China's more efforts in macro-economic control, appreciation of Renminbi, price hiking of raw materials and quick industry transformation. Facing the challenges, Midea continues to stick to the guideline of value promotion, and thoroughly facilitates the processes of structure adjustment,scientific & technologic innovation and enterprise globalization.
In 2007, with the South Asia as a point of penetration, the Household Refrigerating Appliance Group and Household Daily-use Appliance Group under the Midea Group have made meaningful trials in the aspects of overseas marketing, sales channels and management system. After the living electrical appliance industrial park in Vietnam was put into operation, the household refrigerating air conditioner project in Vietnam is also put into operation recently, and the daily-use micro-wave appliance project in White Russia and the environment-friendly electrical appliance project in Thailand are carried forward according to schedule. Midea is actively brazing its way into emerging markets and unfolding its blueprint of oversea market expansion. Recently, Midea set up a globalization leadership group with an effort to carry out the globalization strategy in accordance with plans, procedures and goals.
He Xiangjian said, in 2008, Midea will broaden the views, change the consciousness, clearly identify the circumstance, so as to further facilitate product innovation and competition mode transformation, unceasingly emphasize the global business strategy, expand international market, and carry forward the processes in business planning, production, sales, brand maintenance and talent management. Moreover, Midea Group will make more efforts for the technical R&D, continuously promote industrial structure adjustment, strengthen industrial operation and capital management, and vigorously carry out global business strategy while positively seize opportunities in domestic market, so as to ensure that the "1155" strategic plan can be realized ahead of schedule and to carry Midea into the list of world top 500 enterprises as soon as possible.