The Maadiran Home Appliance introduction and sales seminar was held on Friday, the tenth of Shahrivar, concurrently with the thirty-first home appliance exhibition in the city of Tabriz, with the presence of a group of regional representatives and managers of Maadiran Home Appliance Company. After introducing and unveiling Maadiran’s latest product, the fully automatic side-by-side X-Vision and other products of the company, seven distinguished representatives from the Azerbaijan region were appreciated.

This ceremony, being the largest seminar for the introduction and sale of Maadiran home appliances, is considered a significant turning point in the continued presence of the X-Vision and TCL brands in the northwestern provinces of the country.

The CEO of Maadiran Holding announced: This year, efforts will be made for the entry of Maadiran Electronics Industries Company into the capital market with two objectives of expansion and creating more products through liquidity provision and also as a benchmark for the evaluation of Maadiran Industries Holding with NAV index and a benchmark (subsidiaries and the market).

Ali Karami, the CEO of Maadiran Holding, stated at the annual general meeting of Maadiran Industries in 1401, while outlining the most important actions of the past year and explaining the planning and budgeting for 1402: Last year, we faced issues such as sales and the absence of European technicians for the installation of home appliances and refrigerators, fortunately, these problems have been resolved.

He explained: Maadiran Industries envisions changing the company structure from manufacturing to an investment and holding company in 1402, and in this regard, all manufacturing activities have been transferred to subsidiaries.

Karami stated: Improving and expanding corporate governance with the approach of transitioning from a manufacturing company to an investment company (the approach of creating value for the parent company in subsidiaries) is among the goals and visions of Maadiran Industries. The company plans to implement a BI system this year to enable online and line-by-line control and monitoring in subsidiaries.

He added: Maadiran Industries has been pursuing the legal restructuring of the company from manufacturing to investment and changing the company’s status in the over-the-counter market from a manufacturing company to a holding and investment company, and with the necessary permissions, this will be operational in a few months. In this case, the company’s evaluation should be based on NAV instead of P/E.

The CEO of Maadiran Holding mentioned: This year is the first year that Maadiran is extensively entering the market with its large home appliances and plans to increase its market share from 3% to 10%. This holding has no plans for investing in external companies in 1402.

He also mentioned the actions taken by Maadiran’s managers regarding social responsibility and said: “3% of the workforce at Maadiran are individuals with disabilities, which is in line with our social responsibility efforts.”

Karami, referring to the activities of this holding through two brands, stated: “Maadiran owns 100% of X.vision and also holds the exclusive representation of TCL. TCL is one of the largest companies active in the home appliance industry and ranked third globally in TV sales in 2022 and reached second in production quantity in 2023.”

Referring to Maadiran’s activities using the TCL brand, he said: “TCL is among the top 10 global brands in home appliances; it also ranks third or fourth globally in the production of air conditioners. Maadiran holds the exclusive representation of this company and manufactures its products in Iran. Last year, Maadiran was selected as the best manufacturer, distributor, and seller of TCL products in the Middle East.”

The CEO of Maadiran Holding stated: “Last year the company experienced a 107% increase in profits, and a significant budget has been allocated for the company’s expansion next year. We hope to reach a tenfold increase. (The approved budget is less than this number) This budget has been approved by the board of directors and the company is projected to grow about 100% next year.”

Detailing the company’s plans to achieve a 100% growth, he said: “Over the past three years, we have invested heavily in the home appliance company but have not yet fully benefited from it due to installation and completion issues related to the products. This year, God willing, the company will be three times bigger, and we are pursuing this ambitious goal.”

Karami added: Home appliance production lines are operating at acceptable capacity. We have four refrigerator production platforms, and we have purchased three more platforms tailored to the needs and tastes of the Iranian market; these platforms have entered the country one by one this year, and we will commence their production. On the other hand, we have completed our product production basket.

The CEO of Maadiran Holding explained: Another constructive step taken for the development of Maadiran company relates to doubling the production of air coolers. Last year a few were produced and sold, but with the completion of the related lines, the goal of doubling the production and sales will be realized.

He mentioned that a one-hundred-percent growth of Maadiran this year was plausible per the plans, but achieving this goal has faced difficulties. He said: Providing working capital was one of the company’s challenges, but we managed to secure 900 billion Tomans through the capital market, solving part of the related problems. There are also other challenges regarding currency allocation by the Central Bank.

The CEO of Maadiran Holding continued: There are problems like smuggling as well, but given the good quality of the products, there are no worries in this regard. In Maadiran Holding, we have put all our energy and focus on the home appliance industry, and we hope to achieve a good position in this field, just like our successes in the electronics industry.

He stated: The Electronic Industries Company has been the most successful and best of Maadiran companies, holding approximately a 20 percent share in the Iranian market. This company has been a supplier of visual products in the country and managed to sell 45 thousand televisions with special discounts and the permission of the Ministry of Silence during the last year’s World Cup; also, around 7 thousand televisions were sold directly through non-presence and online sales. Eventually, we managed to achieve a 107 percent growth last year.

Karami mentioned, regarding the ambiguities created by some media outlets about the growth in the number of products from the Electronic Industries company, that: “The production of products is on a growing trend, but overall our strategy has been focused on selling higher quality and larger-inch products, which creates currency, especially for the company. Fortunately, last year, the inches of products increased, indicating an improvement in the company’s quality and production capacity.”

The CEO of Maadiran Holding announced: “This year, efforts are being made to enter the Electronic Industries company into the capital market, with two goals of development and creating more products, providing liquidity, and also company valuation according to NAV and increasing the benchmark.”

Referring to the issues related to the Maadiran Plastic Company, he stated: “Three product groups are produced in the plastic company, including injection production (supplying plastic parts for refrigerators and TVs), which is very helpful in the value chain. Maadiran Plastic has the ability to supply parts for three new acquired refrigerator platforms and can complete this product in three full shifts.”

Karami added: “Another product of the plastic company is related to biodegradable products which are eco-friendly, and the third product is related to the production of small home appliances, which was approved last year. Last year, we produced vacuum cleaners, and this year we will introduce other products like irons, coffee makers, air fryers, etc.”

The CEO of Maadiran Holding said: “Despite the small size of the Plastic Company, we have big goals for it, and it can have a bright future in Maadiran.”

He mentioned another subsidiary of Maadiran: “The Chain Store company is another subsidiary of Maadiran; last year we had 25 stores, and this year this number has reached 50, and by next year, the number of stores will reach a hundred. However, since we allocate a large portion of our resources to the production and sale of home appliances, there is a possibility of launching 70 stores.”

Karami stated: “The chain stores not only limit themselves to selling home appliances but also sell electronic devices, laptops, and other products of Iranian manufacturers, and it has the potential to expand to 300 to 400 stores in the coming years, but this year the focus and goal are on a hundred stores.”

The CEO of Maadiran Holding, referring to the Maadiran After-Sales Service Company, said: “This company is responsible for support and is very helpful in the value chain. This company has been active in support for 30 to 40 years and has more than 700 representative points across the country, and 2,000 technicians are providing services in this platform.”

Amir Masoud Amiri, The Chairman of the Board of Maadiran Holding, along with the Human Resources Manager, visited the Firooz Factory. This visit aimed to gain a better understanding of the operations, hiring, and the conditions for the presence of physically limited individuals at the Firooz Factory.

During this visit, Seyed Mohammad Mousavi, the CEO of Firooz Factory and the founder and Chairman of the Board of the Able Disabled Community, spoke about the experiences, the way of hiring staff, and interacting with them. Seyyed Akbar Hosseini, the CEO of the Able Community, also explained the selection and introduction of physically limited individuals to the Firooz Factory, considering their physical conditions and the needs of the working environment.

Subsequently, the Chairman of the Board of Maadiran Managers visited the production line of Firooz Factory and had a heartfelt conversation with the factory staff.

At the end of this visit, it was agreed that Maadiran Holding and Firooz Factory, along with the Able Community, would cooperate in employing physically limited individuals. It was also decided that the Autism Friend Foundation, present in Qazvin, should also be able to use the sports and occupational therapy facilities of Firooz Factory, which is managed under the supervision of capable coaches of this group.

Maadiran Holding signed a cooperation agreement with two valuable music artists of the country in the direction of social responsibility and support of Iranian art and music.
Babak Saghafi, the managing director of the holding, under separate contracts with Mr. Homayoun Shajarian and Mr. Fardin Khalatbari, promised to pay all the expenses for Shajarian’s next album, which will be composed by Khalatbari.
This contract was signed on Thursday, 10/30/1400 in Madiran building. Previously, Maadiran Holding sponsored the album Afsaneh Cheshmahit by Homayoun Shajarian and Alireza Ghorbani.