Scale development (1992 ~ 1997)
In 1992, Guangdong Midea Group Co., Ltd. was established.
In 1992, Midea actively promoted enterprise restructuring. In March, Guangdong Midea Electric Appliance Enterprise Group was established, and in May, it was identified by the Guangdong Provincial Government as one of the first batch of eight pilot units for internal shareholding system reform enterprises in the province. In June, the IPO of 12 million yuan was completed, and then the transformation of corporate governance structure, finance and management system was completed, and a modern enterprise system was gradually established.
In 1992, the first phase of Midea Industrial City was completed and put into production
In November 1992, the first phase (air conditioning) project of Midea Industrial City, covering an area of 12, square meters, with a total investment of 25 million yuan and a construction area of over 1, square meters, was completed and put into production, and Midea became one of the air conditioning manufacturing bases with the most advanced equipment and technology and the largest production scale in China, and thus entered the second period of rapid growth. The second phase expansion project with an investment of 27 million yuan was carried out at the same time and completed in 1993.
In 1993, Midea entered the rice cooker market
In 1993, Midea decisively entered the rice cooker market. In October, in cooperation with Sanyo of Japan, Midea introduced the fuzzy logic computer rice cooker project and established Midea Rice Cooker Manufacturing Co., Ltd. to produce high-grade rice cookers, thus expanding the scale of a full range of products, gradually occupying the domestic market and becoming an industry leader.
In 1993, Midea was listed as the first township enterprise.
On November 12, 1993, Midea's stock was listed on the Shenzhen Stock Exchange. Midea became the first listed company in China that was approved by China Securities Regulatory Commission and transformed by township enterprises. Through listing financing, Midea quickly expanded its plate, and its main business income increased rapidly from 487 million yuan in 1992 to 2.5 billion yuan in 1996, making it one of the largest home appliance production bases in China.
Since 1991, Midea's exports have been ranked first in China's home appliance industry for eight consecutive years.
Since 1991, Midea's export earnings have been ranked first in China's home appliance industry for eight consecutive years, and Midea has become one of the export-oriented home appliance enterprises in Guangdong Province and even the whole country, and also occupies an important position in the domestic market. Beauty formally put forward the slogan of "being the beauty of the world".
In 1996, Midea began to implement MRP-II and the development of office automation system
promoted the improvement of Midea's management ability. In 1996, Midea implemented MRP-II and office automation system, which improved its management ability by using modern technical means and provided conditions for the efficient operation of enterprises.
In 1997, Midea carried out the reform of business division system in an all-round way
In 1997, Midea carried out the reform of business division system in an all-round way, and divided business divisions with products as the center. The business division integrated research and development, procurement, production, sales and service, and the Group became an investment, monitoring and service center, forming an internal authorization model of "proper centralization, orderly decentralization, orderly authorization and proper use of power", which promoted
In 1992, Midea launched Gong Li as its image spokesperson, and its brand grew rapidly.
In 1992, Midea hired the famous actor Gong Li as its image spokesperson. In 1995, Gong Li became the image spokesperson of beauty again. In just a few years, the brand awareness and reputation of Midea have been greatly improved. By 1997, the value of Midea brand exceeded 2.9 billion yuan, making it one of the most valuable brands in China.
Decentralized Operation (1998～28)
1998 p > In 1998, Midea began to go out of Guangdong.
In 1998, Midea put forward the strategy of "upgrading connotation and expanding extension", went out of Guangdong, bought Anhui Wuhu Liguang air-conditioning factory, and managed the export, realizing "investment in that year and profit in that year", which established an important role for Midea to advance into East China and radiate the whole country. In the same year, Midea invested in a fan project in Chongqing.
In p>1998, Midea acquired 4% of the shares of Toshiba Wan Jiale Refrigeration Equipment Co., Ltd. and Toshiba Wan Jiale Electric Co., Ltd. (owned by Guangdong Wan Jiale Group), which made the enterprises profitable that year, and then acquired 2% of the shares of Toshiba, which successfully entered the air-conditioning compressor industry and built a deep-going air-conditioning industrial chain.
In 1999, Midea made a large-scale diversified expansion in products
In 1999, Midea made a large-scale diversified expansion in products, and successively launched new product projects such as commercial air conditioner (MDV), microwave oven, water dispenser, IH rice cooker, dishwasher, washing machine motor, etc., successfully expanded the product line, and grew rapidly according to the concept of "being the top three if you want to do it".
Since 1999, Midea has started to introduce overseas experts and returned overseas students on a large scale in response to the trend of internationalization, and has recruited more than 1 returned overseas students and nearly 1 domestic graduates with master's degrees at one time. At the same time, it has implemented the century talent project and sent a large number of senior managers, important suppliers and distributors to go abroad for training.
In 1999, Midea spent tens of millions of dollars to launch a new CI system around the world.
In 1999, Midea invested tens of millions of dollars to transform the CI project, replacing the original brand portfolio with a new CI system with a more international form. Subsequently, the new CI system was successfully implemented in China and successfully applied for registration in more than 1 countries around the world.
In p>1999, Midea carried out the transformation of the business department
After nearly two years of operation, Midea adjusted and improved the business department system. In September 1999, Midea merged the original fan division, the rice cooker division and the newly invested water dispenser project to form the household appliances division, and then launched the microwave oven project. In the same year, Midea withdrew its investment project in Chongqing because of the unsatisfactory investment environment.
for more than p>2 years, in the process of coping with market changes, Midea has constantly adjusted its strategy and tactics, gradually changed from a single product to a brand of household appliances with multiple products, and gradually moved from localization to internationalization. This is the process of Midea's continuous practice of the corporate philosophy of "creating a better life for mankind". The evolution of Midea brand vividly interprets this process.
after the project acquired in Anhui was a great success, Midea expanded the construction of Wuhu base on this basis. In 2, Wuhu Midea Industrial Park covering an area of 28, square meters was completed. Subsequently, logistics, motors, controllers, kitchen utensils and other enterprises have settled down in the industrial park.
midea set up a doctoral research workstation
in April p>2, midea group technology center was recognized at the national level. At the same time, the doctoral research workstation was approved by the relevant departments to be established in the United States, and two doctors were introduced to study in the station. Since then, Midea's R&D system has been more perfect and its scientific research level has been continuously improved.
In 2, Midea accelerated the internationalization process
Since 2, Midea has vigorously promoted the internationalization process. On the basis of the successful operation of Hong Kong companies, it has successively set up American companies, European companies, Japanese companies and Korean offices. In the following two years, we set up a Canadian office and a Russian office to vigorously promote the expansion of Midea's overseas business and provide support for Midea's internationalization.
In 2, Midea's sales exceeded 1 billion yuan
In 2, Midea's sales revenue reached 1.5 billion yuan, making it the largest enterprise in Shunde and stepping into the ranks of large enterprises with 1 billion yuan.
In April, 21, Midea completed the MBO transformation
In April, 21, Midea's joint-stock company implemented the MBO, and the Beijiao Town Government, the largest shareholder, all withdrew, and the management headed by He Xiangjian became the largest shareholder of the company, which formed the real fate of the company's management and enterprises. This is a typical case of successful implementation of MBO in China enterprises.
In 21, Midea decided to change from scale-oriented to profit-oriented.
In 21, amid the domestic enterprises' pursuit of the largest price reduction, Midea decided to change its business model from scale-oriented to profit-oriented, and issued a series of rules and regulations, which soberly enabled enterprises to maintain good profits and successfully passed through the difficult crisis of home appliance enterprises.
In April, 21, Midea's shares successfully implemented MBO
In April, 21, Midea's joint-stock company implemented MBO, and the Beijiao Town Government, the largest shareholder, all withdrew, and the management headed by He Xiangjian became the largest shareholder of the company, forming a true fate with the enterprise. This is a classic case of successful implementation of MBO in China enterprises.
Midea entered the field of magnetron
In October p>21, in order to continue to expand the industrial strategy of vertical integration, Midea acquired the magnetron factory of Sanyo, Japan, and entered the field of magnetron, the core component of microwave oven, to construct the second industrial chain of Midea. Subsequently, Midea realized the production of transformers and extended the industrial chain of microwave ovens.
Guangdong Midea Enterprise Group was established
In October p>21, Guangdong Midea Enterprise Group was established with joint-stock companies as the main body. The unlisted industries were managed by the newly established Weishang Company, and the business structure and management structure of the enterprise group became increasingly clear. He Xiangjian is the CEO of the enterprise group and the chairman of the board of directors of the joint-stock company. Since listing, the governance structure and mechanism of joint-stock companies have become increasingly standardized and improved.
Midea continued four adjustments
In July p>23, Midea continued to push forward four adjustments, reorganizing the kitchen utensils division and the household electrical appliance company, dividing the product business, and making the water heater company independent; On the basis of the Air Conditioning Division, the Refrigeration Division was set up, including household air conditioners, commercial air conditioners and refrigerator companies, to build a development platform for household appliances.
since June, 22, Midea has successively reorganized the original household appliances division and kitchen utensils and household appliances companies, and formed household appliances, drinking water equipment, fans and microwave ovens divisions and dishwashers, heating and cleaning, kitchen appliances and water heaters companies.
in p>24, midea cancelled weishang management headquarters, and adjusted the management platforms under the group into four platforms: household appliances group, refrigeration appliances group, electric machinery business headquarters and real estate business headquarters.
in p>27, midea adjusted the management platform under the group into four industrial entities: refrigeration household appliances group, daily household appliances group, mechanical and electrical equipment group and real estate development group.
In 23, Midea began to seek moderate diversification
From 23 to 24, Midea carried out moderate diversification development while insisting on the home appliance industry, striving to cultivate a number of pillar industries, and acquired and merged Yunnan bus enterprises, Hunan Sanxiang bus, Jiangsu Qingjiang Electric, Hefei Rongshida, Chongqing GM, Guangzhou Hualing and Jiangsu Chunhua, and built bases in Yunnan and Wuhan at the same time, forming a group including.
In 27, the foundation stone was laid for Midea's new headquarters building
On September 28th, 27, the foundation stone laying ceremony for Midea's headquarters building was held in Beijiao New Town, Shunde. The main building of Midea Headquarters Building is 128 meters high and has 31 floors above ground. It is planned to be completed within two years and put into use in October 29. The construction of Midea's headquarters building implies that Midea should base itself on the Pearl River Delta, look around the world and promote the internationalization of enterprises.
Since 199, Midea has donated more than 1 million yuan in insurance and property.
As an excellent enterprise, Midea Group has never forgotten to repay the society. While maintaining rapid growth, it has also made positive contributions to local economic development. Since 199, it has paid over 9 billion yuan in taxes, and the accumulated value of donations and materials for various social public welfare, welfare and education undertakings has exceeded 1 million yuan.
in December p>27, the brand value of Midea increased to 37.829 billion yuan
Midea Group has maintained a healthy, stable and rapid growth. In the 198s, the average growth rate exceeded 6%. The average growth rate in the 199s was 5%. Since the new century, the average growth rate has exceeded 3%. In 27, Midea Group achieved sales revenue of 74.3 billion yuan, of which exports reached 3.5 billion US dollars, with year-on-year growth of over 29% and 38% respectively. The brand value of Midea increased from 3.38 billion yuan in 1998 to 37.829 billion yuan in 27, ranking seventh among the "most valuable brands in China".
source: ChinaByte