[6] Starting with only CN¥5,000 to open a workshop for the production of bottle lids in Beijiao, Shunde in 1968, He Xiangjian (Chinese: 何享健), the founder of the company, has since turned Midea into one of the most successful private companies in China, with sales revenue for the entire Group declared at US$ 40.5 billion for 2020 financial year, as well as listed on the main board of the Shenzhen Stock Exchange.

Over the following 15 years though, the company gradually expanded into a wide variety of other electrical home appliances, including refrigerators, washing machines, and microwave ovens.

[8][non-primary source needed] In 1973, the subsidiary which handled the core businesses of the company, known as "Guangdong Midea Electric", proceeded with a public offering of shares on the Shenzhen Stock Exchange.

[8][non-primary source needed] 2010 would see the first of several overseas joint ventures between Midea and American air-conditioner manufacturer Carrier Corporation.

The next year, Midea and Carrier continued on this course, forming a collection of closely networked joint venture companies in Brazil, Argentina and Chile, and another one separately in India.

[8][non-primary source needed] In August 2012, the board of Midea Group announced that the company's founder, He Xiangjian, had resigned as Chairman.

[12] In 2016, Midea made three major acquisitions, the first of which was Toshiba's home appliances business for US$477 million,[13] followed by the even larger purchase of KUKA, the German robotics company.

In recent years, Midea has begun launching its own brand in a growing number of foreign markets, such as Brazil, Argentina, Chile, India, Egypt, and most countries in Southeast Asia.

Midea also offers a wide range of smaller appliances, such as microwave ovens, kettles, water dispensers, and vacuum cleaners.