Midea’s Earnings Growth to Be Underpinned by Operating Efficiency and Market Leadership

Midea is one of the largest household appliance manufacturers in China, with key products being air conditioners, refrigerators, washing machines and small household appliances. It is consistently ranked as one of the top three players in China by retail sales in most of the home appliance products. We think the firm’s leadership position is underpinned by its reputable brand, extensive distribution network and strong focus in research and development.