CIMC Group and Midea Group Ink Strategic Partnership to Drive High-End Equipment and Green Innovation

On April 13, CIMC Group and Midea Group Co., Ltd. (“Midea Group”) officially signed a comprehensive strategic cooperation agreement. Li Yinhui, Vice President of CIMC Group, and Wang Xinliang, President of Midea Group’s Corporate Business, signed the agreement on behalf of both parties, respectively. The ceremony was attended and witnessed by CIMC Group’s Chairman Mai Boliang, President Gao Xiang, Vice President Wang Xiaoyan, and Assistant President Shan Lipo, alongside Midea Group’s Chairman and President Fang Hongbo, and Midea Industrial Technology’s President Qiu Xiangwei.

1

Under the agreement, the two parties will focus on deepening collaboration in such key areas as smart buildings, green reusable packaging, renewable energy, digital and smart production line upgrades, logistics services, and steel processing and supply to jointly drive the high-quality development of their business.

In terms of renewable energy and low carbon, the two parties will jointly develop benchmark projects, such as green smart buildings and highly efficient factories, to facilitate the green and intelligent upgrade of the construction industry. Concurrently, they will foster strategic synergy between their respective energy storage subsidiaries, conducting comprehensive cooperation across products, technologies, and markets. Regarding supply chain, the two sides will deepen full-chain collaboration in circular packaging, jointly build full-process operational capabilities for component warehouses, and forge a green and smart supply chain system. Additionally, they will strengthen the synergy between product logistics and the global supply chain, consistently enhancing logistics efficiency by optimizing transportation routes, developing multimodal transport, and boosting warehousing and distribution efficiency. On the front of digital and intelligent production lines, the two parties will join forces to create an agile, continuously evolving intelligent manufacturing and operational system to reduce costs and increase efficiency.

2

Mai Boliang noted that Midea Group stands as a paragon of digital transformation in China's manufacturing industry, with admirable and continuous breakthroughs in businesses such as smart homes, industrial technologies, robotics, and automation. CIMC Group has cultivated a deep presence in logistics and energy equipment manufacturing, launching a series of champion products that underpin the global logistics and industrial systems. He emphasized that building on their existing cooperation, the two parties should further deepen communication and continuously explore new areas for collaboration. By empowering each other with high-quality, highly efficient, and competitively priced products and services, they will jointly tackle technological bottlenecks, drive the domestic substitution of core equipment, and vie for a stronger voice in the global high-end equipment sector.

Fang Hongbo remarked that both CIMC Group and Midea Group are pragmatic and low-profile enterprises. While deeply engaged in their core businesses, both continuously achieve self-breakthroughs, actively innovate, and participate in global competition with an open and inclusive attitude. This shared corporate culture enables the two parties to understand each other and collaborate efficiently. He added that this partnership is not merely a profound integration of equipment manufacturing capabilities and technological innovation prowess; it also serves as an opportunity to forge replicable benchmark solutions for global expansion.

Through this strategic cooperation, the two sides will realize quality and efficiency improvements in their own businesses, provide replicable benchmark solutions for the upgrading, green and low-carbon transformation, and digital and intelligent development of the global manufacturing supply chain, propel China's manufacturing industry to achieve higher-quality development on the global stage, and inject fresh momentum into global economic growth.