Latest news with #MideaGroup
Cision Canada
04-06-2025
- Business
- Cision Canada
Midea becomes Global Supporter of the AFC's National Team Competitions
FOSHAN, China, June 4, 2025 /CNW/ -- Midea – one of the world's leading smart home appliance brands - is delighted to announce it has become a global supporter of the Asian Football Confederation (AFC) National Team Competitions. This multi-year agreements kickstarts with the AFC Asian Qualifiers™ - Road to 26 and continues with AFC Women's Asian Cup Australia 2026™ that promises to inspire a whole new generation of footballers. Meanwhile the AFC U23 Asian Cup™ 2026 in Saudi Arabia is set to be highly competitive as teams look to win the title as well as qualification for the 2028 Summer Olympics. In 2027, Midea will also be present as a global supporter at the AFC Asian Cup Saudi Arabia 2027™. It will be the first time the competition has been held in Saudi Arabia in what promises to be a historic event. "The next four years are set to be an important part of AFC's footballing history and Midea is excited to become part of all the memories. Combined with our club competition partnership, we look forward to growing together with AFC as Midea's home appliance businesses goes from strength to strength across the region," said Lewis Fu, President of Midea International Business. Midea and AFC are also pleased to announce that their partnerships will extend to AFC Youth Competitions, including the AFC U20 Asian Cup™, AFC U17 Asian Cup™, AFC U20 Women's Asian Cup™ and AFC U17 Women's Asian Cup™. About the AFC The Asian Football Confederation (AFC) is the governing body of Asian football and one of the six Confederations making up FIFA. Established in 1954, the AFC is headquartered in Kuala Lumpur, Malaysia, and comprises 47 Member Associations. The AFC organises the AFC Asian Cup™ and the AFC Women's Asian Cup™ while the AFC Champions League Elite™ and AFC Women's Champions League™ are the premier competitions for Asian clubs. About Midea Midea is the world's leading smart home appliances brand and covers a wide range of product categories including air conditioners, refrigerators, washing machines, dishwashers, ovens, air fryers, and robot vacuum cleaners. Midea Group, established in 1968, is a leading global technology company with over 190,000 employees worldwide, an annual revenue of USD57.5 billion in 2024, and ranked #277 on the 2024 Fortune Global 500 list. Find out more about Midea home appliances at and Midea Group at
South China Morning Post
26-05-2025
- Business
- South China Morning Post
Hong Kong to dominate 2025 IPO action amid rush of quality Chinese firms, UBS says
Hong Kong is poised to be the world's top initial public offering (IPO) venue at the end of the year, as a surge in listings by high-quality Chinese companies coincides with interest from global investors seeking alternatives to US assets, according to UBS Group. The city's stock market had taken the lead in global IPO rankings, with investor interest, liquidity and turnover exceeding expectations, said Edwin Chen, Beijing-based co-head of global banking at UBS Securities, the wholly owned Chinese brokerage of the Swiss bank. In addition, 20 to 30 Chinese companies that trade on mainland exchanges were expected to offer shares in the city in 2025, he added. Midea Group 's successful share offering in September, and its solid post-IPO performance, paved the way for similar deals, Chen said in an interview on Friday. 'Hong Kong welcomes A+H listings,' Chen said, referring to mainland-listed companies that sell Kong Kong shares, or H shares, in addition to their yuan-denominated A shares. 'When there's a supply of good and high-quality IPOs, that will attract global investors and capital to Hong Kong.' The city's IPO market regained its feet in 2025 after overseas traders fled amid China's bleak growth outlook over the past few years. Including the US$5.2 billion IPO earlier this month by Contemporary Amperex Technology (CATL) – 2025's biggest stock sale globally – 22 companies have raked in US$7.7 billion in net proceeds in Hong Kong this year, the most among global IPO venues, according to London Stock Exchange Group data. If the momentum continues, the city will take the global annual title for the first time since 2019, when it generated proceeds of about US$40 billion. Chen said Shanghai-listed soft drink maker Eastroc Beverage and another four or five unspecified mainland-listed companies were in UBS' pipeline for Hong Kong offerings. Other investment banks also had full slates this year due to the recovery in sentiment, he added.
South China Morning Post
20-05-2025
- Business
- South China Morning Post
Chinese investments in Europe have increased for first time since 2016
China's investments in Europe rose in 2024 for the first time in nine years, with Hungary reaffirming its position as the region's leading hub for Chinese capital. The investments shot up 47 per cent from a year earlier, to €10 billion (US$11.23 billion), according to a new joint report from the Mercator Institute for China Studies and Rhodium Group, two research houses. It marked the first rise since 2016, the year in which European governments' serious concerns over Chinese investments first emerged. The purchase of Kuka, a German manufacturer of industrial robots and factory automation systems, by Chinese appliance maker Midea Group stoked fears that Beijing was hoovering up Europe's critical technology companies. The subsequent nine years saw a significant cooling in investment, as the EU implemented a foreign direct investment screening mechanism designed to protect its crown jewels. While things are picking up again amid Chinese companies being frozen out of other markets – notably the US – they are still well below the rates seen before 2017. The report found that 53.2 per cent of China's investments in high-income economies flowed into Europe, with the EU and Britain accounting for 19.1 per cent of all foreign direct investment from the country – the first meaningful hike since 2018. Hungary is seen as China's closest partner in Europe. Photo: Shutterstock Greenfield investments in Europe – meaning Chinese companies launching new ventures by constructing new operational facilities from the ground up – rose 21 per cent compared to 2023, the third straight annual increase. Mergers and acquisitions, meanwhile, jumped 114 per cent to €4.1 billion, although this came from a very low base.
New Straits Times
20-05-2025
- Automotive
- New Straits Times
China's CATL jumps in Hong Kong debut in world's biggest listing this year
HONG KONG: Shares of Chinese electric vehicle battery giant CATL opened 12.50 per cent higher than the subscription price on Tuesday after the company raised US$4.60 billion in its Hong Kong listing, the largest in the world this year. CATL shares started trading at HK$296.00 each in Hong Kong after the firm sold its shares at HK$263.00 apiece in the listing. Hong Kong's Hang Seng Index was up about one per cent in early trading. CATL, which is also listed in Shenzhen, sold 135.60 million shares in Hong Kong to raise US$4.60 billion, marking the largest listing in the city since Midea Group raised the same amount last year. CATL's Shenzhen stock was down about 0.50 per cent on Tuesday. The institutional tranche of the Hong Kong deal was oversubscribed 15.20 times, according to CATL's filings, while the retail portion was 151 times oversubscribed. The company said most of the funds would be used for construction of a factory in Hungary, part of its plan to make batteries in Europe for automakers such as BMW, Stellantis and Volkswagen. "The Hong Kong stock listing means our wider integration into the global capital market and a new starting point for us to promote the global zero-carbon economy," CATL Founder and Chairman Robin Zeng said at a listing ceremony in Hong Kong. CATL had aimed to raise about US$4 billion in the listing but increased the size of the deal following strong demand from investors. A so-called "green shoe option" can be exercised that would take the size of CATL's raising to US$5.30 billion. At that size, it would be the largest listing in Hong Kong since Kuaishou Technology raised US$6.20 billion in 2021, according to LSEG data. TRADE TRUCE MOMENTUM CATL's bookbuild had been open for a day when the US and China announced a brief truce in the trade war that had roiled global financial markets since early April. The US will cut extra tariffs it imposed on Chinese imports last month from 145 per cent to 30 per cent for the next three months, the two sides said last week, while Chinese duties on US imports will fall to 10 per cent from 125 per cent. The move created some extra momentum for CATL, whose bookbuild had already been covered with pre-commitment orders when the deal launched last Monday, according to two sources with direct knowledge of the bookbuilding process. The tariffs pause prompted some global long-only investors who had previously not bid for CATL stock in the Hong Kong listing to place orders, they added. CATL did not respond to a request for comment. CATL's net profit in the first three months of 2025 rose 32.90 per cent year-on-year to 14.00 billion yuan (US$1.91 billion), its fastest pace in nearly two years. It has been extending its lead in the electric vehicle battery market with a 38 per cent share globally in 2024, up from 36 per cent a year ago, according to data from SNE Research. The demand for CATL shares was driven by increasingly positive sentiment towards China from global investors that had started to emerge since the start of the year despite the tariff war, according to the sources. They said a decision to restrict US onshore investors from buying CATL stock did not dent the demand for the shares. US investors with offshore accounts could still participate, and some did so despite CATL being placed on a US Department of Defense list in January of companies accused of working with the Chinese military. CATL said in its Hong Kong listing documents it was working with US authorities to have the "false designation" removed. More than 20 cornerstone investors subscribed for US$2.60 billion of CATL's Hong Kong shares, led by the Kuwait Investment Authority and Chinese oil giant Sinopec, according to CATL's prospectus. "The context of what is happening in the US and associated uncertainty, many investors including sovereign wealth funds must be considering to shift some weight off the West and move to Asia," said Investory analyst Devi Subhakesan, who publishes on Smartkarma. "CATL offers a long-term big-ticket investment opportunity in a strong growth sector for large funds and investment houses."
CNA
20-05-2025
- Business
- CNA
Shares of China's CATL open 12.5% higher in Hong Kong trading debut
HONG KONG: Shares of China battery giant CATL opened 12.5 per cent higher than the subscription price on Tuesday (May 20) after the company raised US$4.6 billion in its Hong Kong listing, the largest of its kind in the world this year. CATL shares started trading at HK$296 each in Hong Kong after the firm sold its shares at HK$263 apiece in the listing. Hong Kong's Hang Seng Index was up 0.3 per cent in early trading. CATL, which is also listed in Shenzhen, produces more than a third of all electric vehicle batteries sold worldwide. Founded in 2011 in the eastern Chinese city of Ningde, CATL has been aided by strong financial support from Beijing, which has sought in recent years to shore up domestic strength in certain strategic high-tech sectors. It has also weathered a fierce price war in China's expansive EV sector that has put smaller firms under huge pressure to compete while remaining financially viable. HONG KONG IPO CATL sold 135.6 million shares to raise US$4.6 billion in Hong Kong, which was the largest listing in the city since Midea Group raised the same amount last year. CATL's Shenzhen stock was down about 0.5 per cent on Tuesday. The institutional tranche of the Hong Kong deal was oversubscribed 15.2 times, according to CATL's filings, while the retail portion was 151 times oversubscribed. "The Hong Kong stock listing means our wider integration into the global capital market and a new starting point for us to promote the global zero-carbon economy," CATL founder and chairman Robin Zeng said at a listing ceremony in Hong Kong. CATL had aimed to raise about US$4 billion in the listing, but increased the size of the deal following the strong demand from investors. A further 17.7 million can be sold as part of a so-called "green shoe option" that would take the size of CATL's raising to US$5.3 billion. At that size, it would be the largest listing in Hong Kong since Kuaishou Technology raised US$6.2 billion in 2021, according to LSEG data. CATL's bookbuild had been open for a day when the US and China announced a brief truce in the trade war that had roiled global financial markets since early April. The US will cut extra tariffs it imposed on Chinese imports last month from 145 per cent to 30 per cent for the next three months, the two sides said last week, while Chinese duties on US imports will fall to 10 per cent from 125 per cent. The move created some extra momentum for CATL, whose bookbuild had already been covered with pre-commitment orders when the deal launched last Monday, according to two sources with direct knowledge of the bookbuilding process. The tariffs pause prompted some global long-only investors who had previously not bid for CATL stock in the Hong Kong listing to place orders, they added. CATL did not respond to a request for comment. CATL's net profit in the first three months of 2025 rose 32.9 per cent year-on-year to 14 billion yuan (US$1.91 billion), its fastest pace in nearly two years. Tuesday's blockbuster listing comes as Hong Kong's stock exchange is eager for the return of big-name Chinese listings in hopes of regaining its crown as the world's top IPO venue. The Chinese finance hub saw a steady decline in new offerings since Beijing's regulatory crackdown starting in 2020 led some Chinese mega-companies to put their plans on hold. In a list issued in January by the US Defense Department, CATL was designated as a "Chinese military company". The United States House Select Committee on the Chinese Communist Party highlighted this inclusion in letters to two US banks in April, urging them to withdraw from the IPO deal with the "Chinese military-linked company". But the two banks - JPMorgan and Bank of America - are still on the deal.
