He Xiangjian Family (Midea)
Overview
The He Xiangjian family controls Midea Group, one of the world's largest home appliance manufacturers, founded by He Xiangjian in 1968 in Shunde, Guangdong. Starting as a small plastic bottle cap workshop, Midea grew into a global powerhouse in air conditioners, refrigerators, and other consumer electronics, with annual revenues exceeding $50 billion. He Xiangjian stepped down as chairman in 2012, passing leadership to professional managers, while his son He Jianfeng oversees the family's investment arm, Midea Capital. The family is known for its low-profile, pragmatic business style and deep roots in Guangdong's manufacturing ecosystem.
Description
The He Xiangjian family controls Midea Group, one of the world's largest home appliance manufacturers, founded by He Xiangjian in 1968 in Shunde, Guangdong. Starting as a small plastic bottle cap workshop, Midea grew into a global powerhouse in air conditioners, refrigerators, and other consumer electronics, with annual revenues exceeding $50 billion. He Xiangjian stepped down as chairman in 2012, passing leadership to professional managers, while his son He Jianfeng oversees the family's investment arm, Midea Capital. The family is known for its low-profile, pragmatic business style and deep roots in Guangdong's manufacturing ecosystem.
Leadership
Governance
He Xiangjian retired in 2012 and handed operational control to non-family CEO Fang Hongbo, while his son He Jianfeng leads the family office and investment activities. The next generation is being groomed through professional management roles and the family's private investment platform.
Succession
He Xiangjian retired in 2012 and handed operational control to non-family CEO Fang Hongbo, while his son He Jianfeng leads the family office and investment activities. The next generation is being groomed through professional management roles and the family's private investment platform.
Public-Sector Context
Midea has maintained strong ties with local and national governments in China, benefiting from industrial policies and subsidies. He Xiangjian served as a delegate to the National People's Congress, and the family is known for close relationships with Guangdong provincial leaders.