Midea Group recently issued the “notice on the acquisition of Beijing Hekang Xinneng science and Technology Co., Ltd. (hereinafter referred to as hecan Xinneng)” that the company intends to acquire the controlling equity of hechong Xinneng through its subsidiary Guangdong Midea HVAC Equipment Co., Ltd. (hereinafter referred to as Midea HVAC) by agreement, with a purchase price of 740 million yuan. According to the above agreement, after the transaction, Midea HVAC will control 23.73% of the voting rights of hecan Xinneng and become the controlling shareholder of the company, and Midea Group will become the indirect controlling shareholder of the company.

Midea invested 740 million yuan to acquire the holding right of Hekang Xinneng to accelerate the layout of new energy industry

According to the public information, Hekang Xinneng was founded in 2003 and is a high-tech enterprise specializing in industrial automation control and new energy equipment. In addition to the high-voltage inverter product business, its business areas also include the high-end manufacturing industry of energy-saving equipment, the construction and operation industry of energy-saving and environmental protection projects, and the assembly and operation industry of new energy vehicles.

For this transaction, industry insiders believe that Midea not only values the advantages of Hekang Xinneng in the field of air conditioning, but also covets its layout in the new energy industry. At present, hecan Xinneng has set up three major companies in terms of assembly supporting and operation industry, mainly including hecan power, hecan intelligent and Changda. The specific division of labor is as follows: hecang power is responsible for the manufacturing of new energy vehicle core components and new energy vehicle system assembly; hecon intelligent is responsible for the manufacturing of new energy vehicle charging pile; Changde company is responsible for the construction of new energy vehicle intelligent charging network and Operation, new energy vehicle rental business, cloud platform and app application. In addition, in terms of powertrain and key components of new energy vehicles, Hekang Xinneng’s powertrain products have formed a supporting relationship with many domestic mainstream automobile manufacturers.

It is worth noting that Midea Group formally entered the field of commercial vehicles as early as 2003, which was also the year when the home appliance industry concentrated on entering the automobile manufacturing industry. According to incomplete statistics, Chunlan, Oakes and Greencool announced their own car making plans in that year. In this spring breeze, Midea has undoubtedly gone the fastest in five years. It has successively acquired three enterprises including Yunnan bus factory, Yunnan Aerospace Shenzhou Automobile Co., Ltd. and Hunan Sanxiang Bus Group Co., Ltd., but in 2008, with the crisis of Midea, its car production projects had to stop.

In recent years, with the development and growth of enterprises, Midea Group has begun to make secret efforts in the automotive field. At the second Asian consumer electronics show in 2016, Midea Group’s portable hand anjixing began to extend its tentacles to the automotive Internet.

Editor in charge: WV

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