H e Xiangjian is a Chinese self-made billionaire and the co-founder of Midea Group, one of the largest and most successful home appliance manufacturers in the world. His is a classic story of China's economic transformation. He started his business in 1968 with a small group of villagers and a tiny amount of capital, initially producing bottle lids and car parts. He later pivoted to manufacturing electric fans, which would be the start of his appliance empire.
He has since built Midea into a global giant with a vast portfolio of products, from air conditioners and washing machines to microwave ovens. He is known for his bold and visionary leadership. He was one of the first private entrepreneurs in China to embrace a modern corporate governance structure, and in 2012, in a rare move for a Chinese founder, he stepped down from all operational roles and handed over the leadership of the company to a professional, non-family management team led by Fang Hongbo. He is also the driving force behind Midea's acquisition of the German robotics giant, KUKA. He and his family remain the controlling shareholders of the publicly traded company.
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He Xiangjian is a Chinese businessman, the self-made billionaire Founder of Midea Group Co., Ltd. (SZSE: 000333), one of the world's largest manufacturers of household appliances. Born in Shunde, Guangdong, in 1942, his early career began humbly as a farmer and an apprentice in a factory because he did not have the chance to go to school.
His entrepreneurial journey began in May 1968 when he gathered 23 local residents and raised RMB 5,000 ($730) to start a small workshop manufacturing glass bottles and plastic lids (the Beijie Plastics Production Team). His strategic genius was his early pivot from simple components to electric fans and later to air conditioners, washing machines, and refrigerators—anticipating the massive demand from China's growing middle class and urbanization.
He Xiangjian's strategic leadership transformed Midea into a global powerhouse. In 1981, he registered the Midea brand. He expanded the company aggressively, listing it on the Shenzhen Stock Exchange in 1993, becoming the first listed Cantonese company approved by the China Securities Regulatory Commission. His focus on vertical integration and diverse product lines (e.g., air conditioners, microwave ovens) secured Midea's global market dominance.
His most audacious move was the 2016 acquisition of the German robotics firm KUKA (a leader in industrial automation), showcasing Midea's commitment to smart manufacturing and technological leadership. He stepped down as Chairman in 2012, handing the role to Paul Fang (Fang Hongbo), ensuring a successful transition to professional management while retaining his majority family control. His wealth is secured by the colossal, stable returns generated by the global home appliance sector.
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Founds the 'Beijie Plastics Production Team' with RMB 5,000 (Founding).
Factory diversifies to produce electric fans (Strategic Pivot 1).
Midea executes its successful IPO on the Shenzhen Stock Exchange (Financial Milestone).
Steps down as Chairman, transitioning leadership to Paul Fang (Fang Hongbo) (Generational Succession).
Orchestrates the acquisition of German robotics firm KUKA (Strategic Acquisition).
Continues as Founder and Controlling Shareholder (Executive Oversight).
He Xiangjian's wealth is concentrated in his founding and controlling ownership of the publicly traded appliance giant, Midea Group Co., Ltd. (SZSE: 000333).
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He Xiangjian is a dedicated and generous philanthropist. His structural social impact is massive, tied to Midea's role as a massive global employer (over 150,000 employees globally) and provider of essential home appliances that improved the quality of life for China's growing middle class. His acquisition of KUKA contributed to the globalization of smart manufacturing.
His personal philanthropy supports various educational and community initiatives, reflecting his dedication to giving back to the community that supported his initial venture.
He Xiangjian maintains the low-profile, composed style of a Chinese industrial patriarch. His attire is consistently formal and high-quality, favoring tailored business suits. His aesthetic reflects humility and immense corporate authority, preferring privacy despite his colossal wealth.
Residing in Shunde, Guangdong, China, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to industrial scale, technological innovation, and strategic corporate governance.
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-0.14% | -$2.33M
+0.03% | +$2.16M
This profile is compiled from verified biographical and financial records:
All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.
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