Interview with Fang Hongbo, Chairman of Midea Group: The era of human-computer interaction is approaching

In July this year, Midea Group made a significant leap on the "Fortune" World Top 500 list, securing the 450th position—up 31 spots from the previous year. It became the only Chinese home appliance company to appear on the list consecutively, with a market value exceeding 300 billion yuan. This achievement marks a major milestone in Midea's global journey. As a private enterprise, how has Midea managed to upgrade its production and operations when the broader industry has been lagging? And how has it successfully expanded into the global market? In its pursuit of globalization, how has Midea integrated companies from Germany, Japan, and Italy, each known for their innovative approaches, to achieve cross-cultural and trans-regional growth? At the "Fortune" Global Forum on "Globalization Strategy in Development: Cross-border Convergence, Partnerships, and Organic Growth," Midea Group Chairman Fang Hongbo shared his insights on these questions. He emphasized that truly global companies must have a deep understanding of global trends and continuously push beyond current limits. "We believe we are moving toward an era of perfect human-computer interaction," he said on December 7th. The Human-Computer Interaction Era During the forum, a journalist asked about Midea’s strategy for entering the European and American markets after acquiring Toshiba and KUKA. Fang explained that while Midea is not just a U.S.-based brand, it now operates with over 130,000 employees, 200 subsidiaries, and 12 strategic business units globally. Nearly half of its revenue comes from international markets. Over the past five years, Midea has invested more than 20 billion yuan in R&D, establishing a global network of 20 R&D centers across China, the U.S., Japan, Italy, Germany, and Austria. The company has also deployed a global brand matrix to ensure balanced and sustainable growth in both domestic and international markets. Midea has formed strategic partnerships with brands like KUKA, KoChuang, Carrier, and Toshiba Electric Appliances, leveraging resources, technologies, and channels to access mature markets. Looking ahead, the company plans to further integrate internal resources to boost organic growth. When asked about the evolution of Midea’s three core strategies—Product Leadership, Efficiency-Driven Growth, and Global Management—Fang highlighted the shift toward a future where human-computer interaction becomes seamless. With the rise of mobile internet, big data, and cloud computing, manufacturing is evolving into a more intelligent and connected field. Midea has been exploring smart home and smart manufacturing as its dual-core strategies, aiming to create products that enhance human life through organic integration. Managing a global operation brings new challenges, especially given Midea’s relatively short history. To address this, the company is building a strong international team capable of assessing and predicting business developments. Fang also emphasized the importance of respecting the culture and management systems of acquired companies, believing that they bring unique strengths that can be leveraged for mutual benefit. Looking at the future, Midea sees robotics and automation as key growth areas. While HVAC and consumer electronics remain its main businesses, the proportion of robot-related ventures will grow. The company is working on creating an open, connected, and integrated robotic platform, collaborating with leading firms like Yaskawa, KUKA, Huawei, and Alibaba to extend human-computer collaboration into various sectors, including healthcare, logistics, and manufacturing. After acquiring Toshiba and KUKA, Midea has entered a phase of recovery and expansion. While no specific plans for future acquisitions have been announced, the company has gained valuable experience in integrating global assets. By extending its supply chain and building an ecosystem that includes R&D, manufacturing, logistics, and service, Midea aims to maximize synergies and improve operational excellence on a global scale. Finally, when asked about China’s manufacturing challenges, Fang pointed out that the traditional low-cost, mass-production model is unsustainable. Global competition now revolves around core technologies and high-quality products. With increased R&D investment and favorable policies post-19th National Congress, Chinese companies are breaking stereotypes and gaining recognition for innovation and quality. As the integration of AI, big data, and the real economy deepens, Chinese home appliance companies are poised to gain even greater influence in the global market.

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