Midea acquires existing business of Xiderui in China, signs multiple strategic agreements.

Midea Group and global intelligent indoor climate solutions leader Xidere Group have signed multiple strategic agreements. The series of agreements signed by both parties include the following main points: 1. Midea will acquire Xidere's existing business in China, including production, sales networks, and core technologies. 2. According to the brand licensing agreement, Midea will continue to use the four brands in the Chinese market, enhancing its multi-brand matrix. 3. Xidere Group will retain a streamlined supply chain business in China, focusing on global strategic procurement. 4. After the acquisition is completed, Midea will supply boiler products and services to Xidere Group's wide range of overseas markets.