Midea Group Signs a Strategic Cooperation Agreement with China Huarong Financial Leasing Co., Ltd.

On December 4th, Midea Group and China Huarong Financial Leasing Co., Ltd. signed a strategic cooperation agreement at Midea's headquarters. Based on the needs of their respective business development, the two parties will carry out multi-dimensional cooperation in industries such as photovoltaic energy, industrial manufacturing, and high-end medical care, including resource integration, asset procurement, and capital financing. They will also strengthen communication and create development opportunities together.

Sun Ping, Deputy General Manager of China Huarong Financial Leasing Co., Ltd., and Liu Yi, Deputy General Manager of Hiconics Technology Co., Ltd. under Midea's Industrial Technology Business Group, signed the strategic cooperation agreement on behalf of the two parties. Gu Jianfei, Chairman of China Huarong Financial Leasing Co., Ltd., Fang Hongbo, Chairman and President of Midea Group, and Qiu Xiangwei, President of Midea's Industrial Technology Business Group, attended and witnessed the signing ceremony.

As a financial leasing company under Citic Group, China Huarong Financial Leasing Co., Ltd. focuses on professional fields such as green energy, energy equipment, high-end medical care, manufacturer leasing, aviation and shipping, and is committed to providing professional financial services to high-quality corporate clients. At the same time, Midea Group is a global technology group covering five major business segments: smart home, industrial technology, building technology, robotics and automation, and innovative businesses. With technological leadership as its core, it achieves the parallel development of both ToC and ToB businesses.

According to the agreement, both parties will regard each other as important business partners and carry out leasing business cooperation based on the principle of resource sharing, mutual assistance and win-win results. Relying on the backgrounds of both parties and the advantages of their branch network, they will give full play to their own industrial endowment advantages, fully explore their respective business channels, recommend project information resources to each other, and, under the condition of reaching a consensus on risks, actively carry out business cooperation in various forms in fields such as photovoltaics, industrial manufacturing, and high-end medical care, so as to expand the business coverage of both parties and extend the business industrial chain.

In order to smoothly promote this cooperation, the two parties have established a meeting system for corresponding departments regarding specific businesses and a multi-level and all-round information communication mechanism, so as to further expand the depth and breadth of the strategic cooperation fields between the two sides.

Fang Hongbo, Chairman and President of Midea Group, stated that since Midea established its five major business segments in 2020, it has been firmly committed to the strategic direction of ToB transformation, among which the Industrial Technology Business Group focuses on the new energy industry. With the society's increasing emphasis on sustainable development, there is still broad room for the development of commercial and industrial photovoltaic and energy storage systems in the future. In the future, in fields such as new energy and healthcare, the two parties can strengthen communication and cooperation, and jointly promote the sustainable development of the social economy.

Gu Jianfei, Chairman of China Huarong Financial Leasing Co., Ltd., said that China Huarong Financial Leasing Co., Ltd. has been deeply engaged in several professional fields such as energy and healthcare, and in the next step, it will increase its support for the real economy. Currently, both parties are at a critical stage of transformation, and their strategies are highly compatible. As these two companies with a long history join hands in cooperation, it is hoped that it will help Midea with its transformation and upgrading. It is also expected that the two parties will jointly create a broader development space and contribute to the transformation, upgrading and sustainable development of the industry.

The visiting delegation also visited Exhibition Hall 08 of Midea Group, intuitively experiencing the development history and innovative achievements of Midea Group, and giving high praise to Midea's green ecological development concept and technical strength. Also attending the signing ceremony were Shao Jianghe, Director of the Photovoltaic and Healthcare Leasing Department of China Huarong Financial Leasing Co., Ltd., Wen Miaomiao, Head of the Operation and Management Department, Yang Zhi, Assistant to the Director of the Photovoltaic and Healthcare Leasing Department, as well as Tian Xinyi, Key Account Manager of the Photovoltaic Company of Midea's Industrial Technology Business Group and other relevant business leaders.