He Xianjiang

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Name: He Xianjiang

Country: China

Date of birth: 05.10.1942

Education: —

Type of business: Midea group

Main achievements: He has been listed among the wealthiest people of the world by Forbes magazine multiple times. He also contributed the US $2.3 million to Qinghai province for earthquake damages. In addition to that, he established He Xianjiang foundation with the purpose of community development, promotion of culture, helping people who went through disasters, education and environmental problems in 2007.

Smth interesting about the person: Before He Xiangjiang’s success journey, he worked as a farmer. His net worth is around the US $22.2 billion. He swims and reads newspapers as a hobby. He also loves playing golf.

Biography:

He Xianjiang was born in Shunde district, Foshan, Guangdong in the People’s Republic of China on the 5th of October 1942. Before he started working in a factory as a trainee, He Xianjiang was a farmer. He decided to start his factory that made glass bottles for medicines in May 1968 along with other residents of his district. He bought the midea trademark in 1981. This company started making electric fans. He called his first electric fan as the pearl.

Midea group had a rapid growth and made other electronic products as well in later years. By 1984, Media group made a different kind of fan which could be used overnight known as a plastic box fan. These fans were further exported to Hong Kong. Media group sent its members to Japan to study the production of technology to help them apply this knowledge in the production of better appliances by their company. 

Media group created their first air conditioner in the year 1985, and over the time span of 15 years, the company made other electrical home appliances such as refrigerators, washing machines and microwaves too. By 1993 Media group was one of China’s top air conditioning companies. Moreover, Media group was listed in Shenzen stock exchange market in the same year. 

In 2007, Midea group started providing its appliances overseas too. They opened their first market in Vietnam industrial park. By 2010, He Xianjiang started expanding his company even more. He made his first international joint venture with an American air conditioner company. They named this venture as Miraco carrier. Miraco carrier was their first-ever joint venture which is located in Cairo, Egypt. They expanded this venture to several other countries too, including Brazil and India.

He Xianjiang only made electronics such as home appliances. He never got an interest in building mobile phones, laptops or computers, etc.

He Xianjiang resigned from his company in the year 2012. At that time, Paul Fang became the new chairman of Midea group.  He thinks that he had served good and successful years to his company, and now it’s time that he enjoys life. Nowadays, he spends most of his time playing golf. He has been ranked 136th richest person in the world. At one time, He was China’s 6th richest person, but this rank dropped to 11th in 2011. He lives in Foshan with his three children. Now, his son He Jianfeng is the director of their company and has a hold of midea real estate. Today, this company has over 200 branches, including the robotics firm in Germany known as Kuka.

In 2014, one of China’s biggest mobile phones company known as Xiaomi, made an investment of about US $200 million gaining about 1.2% of midea group. Even though it is a very small percentage, it still made an increase of 6% per day of purchasing. They also made an acquisition with Toshiba appliance for the US $477 million.  

Midea group also has several development projects in different cities in China. Today, Midea group is one of china’s largest appliance maker companies.

Links:

https://people.followcn.com/2017/01/11/he-xiangjian-and-midea/