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MIDEA GROUP (00300.HK) Rises 2% Against Market Trend; CLSA Says Growth Momentum Continues
2026-08-31 13:47:02 MIDEA GROUP (00300.HK) opened 0.46% higher today and once peaked at HKD100.9. It is now trading at HKD100.8, up 2.08%, with trading volume of 5.9448 million shares and turnover of HKD595 million. CLSA released a report stating that MIDEA GROUP's second-quarter revenue and net profit increased 4.5% YoY and 1.3% YoY respectively. Overseas home appliance sales remained the main growth driver, while self-owned brand (OBM) sales recorded faster growth. Domestic demand was relatively weak. The broker maintained its "Outperform" rating, raising the A-share target price of MIDEA GP (000333.SZ) from RMB90 to RMB91, while maintaining the H-share target price at HKD103. The report noted that smart building technology benefited from synergies arising from the scale of the home appliance business. The robotics and automation business focused on cooling solutions for AI data centers and humanoid robots. Both businesses made significant contributions to business-to-business (ToB) revenue growth, with bright prospects ahead. Looking forward, CLSA expected ToB sales growth to outperform the business-to-consumer (ToC) segment. Mainland operations are expected to recover in 2H26 on a low comparison base, while overseas sales are expected to maintain relatively fast growth. As raw material prices decline and foreign exchange headwinds ease, earnings growth is expected to remain solid. (ad/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |