Midea Group acquires stake in Clou Electronics to deepen layout in energy storage sector

Midea Group recently subscribed 252 million shares issued by Clou Electronics at a price of RMB 3.28 per share, with a shareholding ratio of 22.79%, becoming the controlling shareholder of Clou Electronics. Clou Electronics was founded in 1996, focusing on smart grid business and has leading technical strength in the field of energy storage. The participation of Midea Group is expected to promote the further development of Clou Electronics in the field of energy storage.