Understanding the Market | Midea Group's stock rises over 6% after earnings, with a 15% year-on-year increase in net profit, plans to spend 5 to 10 billion yuan to repurchase shares

Midea Group's stock rose over 6% after earnings, reaching a 6.02% increase as of the time of writing, priced at HKD 80.95, with a trading volume of HKD 250 million. In terms of news, Midea Group released its annual performance report, stating that the company's total operating revenue for 2024 is expected to be CNY 407.1 billion, a year-on-year increase of 9.44%; the net profit attributable to the parent company is CNY 38.5 billion, a year-on-year increase of 14.29%. Earnings per share are CNY 5.44. The final dividend is CNY 35 for every 10 shares. Additionally, Midea Group announced plans to repurchase shares worth CNY 5 billion to CNY 10 billion, with 70% or more of the repurchased shares intended for cancellation. CITIC Securities pointed out that the company has achieved steady growth in domestic sales performance by leveraging national subsidy benefits, showcasing its strong foundation as a leading player. At the same time, relying on strong manufacturing capabilities and multinational cooperation, export growth remains high. Looking ahead, the global home appliance market is vast, and as a leading white goods manufacturer with top comprehensive competitive strength, Midea's market share is expected to continue to break through, driving further growth in operating performance. Meanwhile, the company's dividend payout ratio has increased to nearly 70%, and the significant repurchase is mainly for cancellation, further elevating shareholder returns