On May 13, 2026, Midea Group (0300.HK, 000333.SZ, “Midea Group”), through its wholly owned offshore subsidiary Midea Investment Development Company Limited, successfully completed the issuance in the international market of HKD 17.248 billion in zero-coupon guaranteed convertible bonds, guaranteed by Midea Group. The offering comprised two tranches of convertible bonds: HKD 8.624 billion due 2027 and HKD 8.624 billion due 2033. The net proceeds from the offering amounted to approximately HKD 17.174 billion, of which around 60% will be used for international expansion and enhancement of overseas liquidity, and around 40% for general corporate purposes.
Midea Group is a global technology company with operations spanning smart homes, industrial technology, building technologies, robotics and automation, new energy, healthcare, and smart logistics. With businesses and customers worldwide, Midea provides a wide range of smart home products and services to consumers while also delivering diversified commercial and industrial solutions to enterprise clients.
Fangda acted as PRC legal counsel to the joint lead managers for the offering, participating throughout the transaction and assisting with the filing procedures with the China Securities Regulatory Commission. The Fangda team was led by partners Jeffrey DING and Brian LIU. Team members included SHI Shengjie, Helga CHEN, Chris XUE and WANG Shen.
Special thanks to ZHU Zhenying for her significant contribution to this project.