In May, 2004, Maytag Company of the United States transferred 50.5% of its shares in Rongshida Sino-US joint venture company to Midea Group, and Midea Group became a new partner of Rongshida. In 2005, Midea acquired 24.5% equity of Rongshida Sino-US joint venture company, and China retained 25% equity. In 2008, Midea Group acquired all Chinese shares of Rongshida Sino-US Joint Venture Company and became a wholly-owned subsidiary of Midea. In 2008, Rongshida Group signed a five-year trademark license contract with Midea, authorizing Midea to use the "Rongshida" trademark on refrigerators and washing machines.