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caizhong news agency, september 18yesterday, midea group (00300/000333) was officially listed on the hong kong stock exchange and closed at hk$59.1 that day. the total market value of a+h shares reached rmb 444 billion.

in this ipo, midea group successfully attracted 18 cornerstone investors including national development fund ii, byd, boyu capital, cpe yuanfeng, dajia life insurance, tcl industrial, and idg capital.

in this ipo, midea group's issue price was hk$54.80 per share, and the public offering stage received 5.31 times of subscription, raising over hk$30 billion, making it the largest new stock in hong kong in the past three years.

today's midea

midea group was founded in 1968. it started as a township enterprise and embarked on the legendary road of home appliances under the leadership of its soul figure he xiangjian. today, midea group has become a leading global technology group covering smart home, new energy and industrial technology, smart building technology, robotics and automation and other innovative businesses. it has established a business matrix that focuses on both to c and to b development, providing consumers with various smart home products and services, as well as providing corporate customers with diversified commercial and industrial solutions.

thanks to the dual-wheel drive of to c business and to b business, the company's performance has been steadily improving for many consecutive years. from 2021 to 2023 and the first half of 2024, the company's revenue was rmb 343.4 billion, rmb 345.7 billion, rmb 373.7 billion and rmb 218.1 billion, respectively, with profit margins of 8.5%, 8.6%, 9.0% and 10.3%, respectively; net profits were approximately rmb 29 billion, rmb 29.8 billion, rmb 33.7 billion and rmb 20.8 billion, respectively, with a year-on-year increase of 14.11% in the first half of this year. this means that midea makes an average net profit of about rmb 100 million per day.