In 1992, Midea, which was still a township enterprise, carried out enterprise restructuring and became the first batch of 8 pilot units for internal shareholding transformation in Guangdong Province, and established Guangdong Midea Electrical Appliance Enterprise Group in this year.
In the same year, Fang Hongbo, who graduated from East China Normal School, gave up the iron rice bowl of Dongfeng Automobile Factory, went south to Guangdong, joined Midea, and became the editor of Midea's internal magazine.
In the following years, he became the most successful professional manager of a private enterprise in China.
A year later, in 1993, Midea shares were listed on the Shenzhen Stock Exchange, becoming the first listed company to be transformed from a township enterprise.
In that era before the real estate market, Midea electrical appliances were the core business of He Xiangjian, the founder of Midea.
Through listing and financing, Midea quickly expanded its plate, and its revenue increased from hundreds of millions in 1992 to tens of billions in 2000, becoming the largest enterprise in Shunde.
In 1998, Midea began to go out of Guangdong, diversify and expand, and attacked everywhere in China, acquiring small local factories on the verge of closure and building its own production base.
In this year, He Hengle, a native of Zhoukou, Henan Province, who graduated from Shanghai University of Finance and Economics with a major in law, joined Midea Group as a legal officer.
In 1998, the State Council issued the Notice on Further Deepening the Reform of the Urban Housing System and Accelerating Housing Construction, which made it clear that urban housing would stop the distribution of housing in kind and fully turn to the monetization of housing allocation, which marked the beginning of China's real estate marketization.
Five years later, in 2004, Midea Electric Appliances, which had gained a firm foothold in the field of home appliances, acquired a majority stake in Welling Real Estate in Shunde District, officially entered the real estate industry, and established Foshan Shunde Midea Real Estate Co., Ltd.
It has become the fourth industrial group after the refrigeration appliance group, the household appliance group, and the electromechanical equipment group.
At the beginning of its establishment, the first project of Midea Real Estate Development was located in the Junlan Golf Project in Beijiao Town, Shunde, and the owner of Midea, He Xiangjian, became the first batch of owners and has moved in so far.
In 2005, He Hengle, who served as the director of audit and legal affairs in Midea Electric, was transferred by He Xiangjian to the real estate group as president, when He Hengle was 36 years old.
In the following five years, Midea Real Estate mainly cultivated Foshan, the base camp, which may be a case of failure to acquire Yunnan Bus on the road of diversification and Sanxiang Bus to enter the automotive field, and the development of Midea Real Estate is relatively slow.
In 2009, the equity of Midea Real Estate was changed, and it was spun off from the original subsidiary of the listed company Midea Electric Appliances to become the sole holding company of the He Xiangjian family.
In 2010, Midea Real Estate started its nationwide expansion, and this year, it successively entered Guiyang, Zhuzhou, Xuzhou, Handan, Shenyang and other places, and enjoyed urban development dividends through large-scale development.
In 2016, following the national destocking strategy, Midea Real Estate accelerated its nationwide expansion and settled in Changsha, Shijiazhuang, Nanchang, Nanjing and other cities.
In terms of strategy, Midea Real Estate fully draws on Country Garden, which also belongs to Shunde, to focus on second-tier and third- and fourth-tier cities, and abandon first-tier cities.
With the hot property market in second-, third- and fourth-tier cities, Midea Real Estate has grown rapidly, which has also increased its confidence in seeking to go public in Hong Kong.
In view of the success of Midea Group in employing professional managers like Fang Hongbo, Midea Real Estate has been under the helm of He Hengle since its inception, and He Hengle has been doing this for 20 years.
In the past 20 years, He Hengle has led Midea Real Estate to make great progress, and in 2019, it has entered the scale of 100 billion yuan, becoming another business empire of He Xiangjian's family, and He Hengle's position is also as stable as a rock.
In recent years, with the downturn of the property market, Midea's real estate income has declined, thanks to the invisible endorsement of the major shareholder He Xiangjian, backed by Midea electrical appliances, Midea's financing cost has been at a low level, and has become one of the few real estate companies with funds to maintain a healthy debt.
The continuous downturn of the property market, so that He Hengle, who is in charge of Midea Real Estate, must adjust the idea of business operation as soon as possible, and Midea Real Estate has also made efforts to new tracks in recent years, including Meizhi Service, Meizhi Commercial, Ruizhu Intelligence, Ruizhu Jianke, hoping to cultivate new growth points as soon as possible.
At the same time, Midea Real Estate also has new senior management changes, just today, Midea Real Estate released a personnel appointment information, appointing Wang Dazai as the executive president of Midea Real Estate, assisting He Hengle to handle daily operations and transactional work.
For Midea Real Estate, a real estate company, the stability of its management can refer to He Hengle, which is quite stable, and Wang Dazai can be regarded as a "newcomer" for Midea Real Estate.
Before joining Midea Real Estate, Wang Dazai was the Secretary of the Party Committee and Chairman of Guangzhou Nansha Urban Investment.
In 2018, he joined Midea Real Estate and served as the general manager of Midea Real Estate Yuegui Region, and in 2020, he was adjusted to the general manager of the central region.
According to Midea insiders, born in 1969, He Hengle has been working in Midea Real Estate for 20 years, and it is time to train a successor.
But this appointment is still a bit surprising, after all, before this, under He Hengle, Midea Real Estate also had a young executive vice president - Wang Quanhui.
Born in 1974, Wang Quanhui joined Midea Group in 2001, and after joining Midea Real Estate, he successively served as the general manager of the city company, the general manager of the North China region, the general manager of the central region, and was promoted to executive director and vice president in 2021.
In the past few years after the listing of Midea Real Estate, Wang Quanhui has been accompanying He Hengle to appear in the performance conference of Midea Real Estate, and has become the core management of Midea Real Estate with Chief Financial Officer Lin Ge.
More than half a month ago, at the 2023 performance meeting of Midea Real Estate, Wang Quanhui also spoke on behalf of Midea Real Estate.
And the latest whereabouts of the No. 2 person who defaulted to Midea Real Estate is the regional general manager of Midea Real Estate Yuegui.
From 2018 to 2024, Wang Dazai started from the Guangdong-Guizhou region and spent 8 years to become the No. 2 person in Midea Real Estate.
And Wang Quanhui, who has worked in the United States for 23 years, has returned to the starting point of Wang Dazai!
It can only be said that creation makes people.
In the 20-year development history of Midea Real Estate, there has never been a post of "executive president", and the appointment of Wang Dazai also announced the change of the new No. 2 person of Midea Real Estate.
Extending it a little further, not long after, the 20-year development history of Midea Real Estate finally changed to a new helmsman.
