Chinese home-appliance maker Midea Group launched a $5-billion-plus bid for German robotics specialist Kuka AG, in the latest instance of global Chinese dealmaking and a move targeting technology crucial for the country’s ambitions to become a high-end manufacturing powerhouse.

Midea said Wednesday it wants to keep the company listed and doesn’t plan a complete takeover. But by saying Wednesday it was seeking a stake of more than 30%, it is required to make an offer for all outstanding shares.

...