Overview Key strengths Key risks Largest global home appliance manufacturer by number of units. Higher investment appetite for business expansion. Strong market position in small appliances. Highly competitive markets. Healthy free operating cash flow. Net cash position. We expect the company's revenue to grow by 0%-2% in 2023 after 4%-6% growth in 2022. There will be product mix changes and an increased contribution from commercial products. Midea is pushing out more premium products, as demand for that segment is relatively strong. This will have the benefit of raising its blended average selling price (ASP) for home appliances as well as its gross margin. In the first half of 2022, Midea saw 5.1% revenue growth year over year. Contribution from commercial
