格隆汇9月1日丨美的集团(00300.HK)发布公告，2025年9月1日耗资6000万元人民币回购81.09万股A股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 美的集團股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期： 2025年9月1日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | 股份類別 | A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) 000333 | 說明 | A股 (於深圳證券交易所上市) | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | 事件 | 已發行股份（不包 ...

Group 1 - The article highlights the top three companies with the highest AH premium rates as Northeast Electric (00042) at 785.25%, Hongye Futures (03678) at 247.54%, and Andeli Juice (02218) at 235.17% [1] - The bottom three companies with the lowest AH premium rates include Ningde Times (03750) at -13.42%, Hengrui Medicine (01276) at 2.98%, and Midea Group (00300) at 5.69% [1] - The article also lists the companies with the highest deviation values, with Jinli Permanent Magnet (06680) at 38.75%, Beijing Machinery (00187) at 24.13%, and Zhejiang Shibao (01057) at 20.83% [1] Group 2 - The top ten AH stocks by premium rate include Fudan Zhangjiang (01349) at 227.99% and Sinopec Oilfield Service (01033) at 217.95% [1] - The bottom ten AH stocks by premium rate include Zijin Mining (02899) at 5.95% and China Merchants Bank (03968) at 8.52% [1] - The article provides a detailed table of the top and bottom AH stocks, including their H-share prices, A-share prices, premium rates, and deviation values [1][2]

Summary of Midea Group 2Q25 Conference Call Company Overview - **Company**: Midea Group (000333.SZ) - **Industry**: Home Appliances and HVAC Key Financial Results - **1H25 Performance**: Total revenue of Rmb252,331 million, net profit of Rmb26,014 million, representing a year-over-year growth of +16% and +25% respectively [1][6] - **2Q25 Performance**: Revenue and net profit growth of +11% and +15% year-over-year, respectively [1][7] - **Interim Dividend**: First interim dividend announced at Rmb0.5 per share, indicating a 15% payout ratio to interim EPS [1][6] Revenue Growth Drivers - **2B and Domestic 2C Growth**: Robust revenue growth driven by 2B (business solutions) and domestic 2C (consumer) segments, with 2B showing +21% growth in 1H25 [2][8] - **Regional Performance**: Domestic revenue grew by +14% and overseas by +18% in 1H25, with domestic growth supported by trade-in stimulus [2][8] - **Segment Performance**: Energy solutions and industrial technology sales grew by +29% and +24% year-over-year in 1H25 [2] Profitability Insights - **Gross Profit Margin (GPM)**: GPM declined by 1.0 percentage points to 26.2% in 2Q25, attributed to faster growth in the lower-margin 2B segment [3][7] - **Efficiency Gains**: Despite GPM decline, total profits grew faster than revenue due to efficiency improvements and contributions from other profit items [3] Cash Flow and Dividend Policy - **Cash Flow Generation**: Generated Rmb20 billion in net operating cash flows in 1H25, indicating strong cash flow generation capabilities [4][6] - **Dividend Policy Outlook**: The interim dividend is expected to normalize going forward as part of the company's strategy to enhance shareholder returns [6] Investment Thesis - **Market Position**: Midea is a leading player in China's HVAC and major appliances market, with expansion into overseas markets and business solutions [8] - **Growth Drivers**: Focus on intelligent building solutions as a long-term growth driver due to significant revenue opportunities [8] - **Valuation**: Target price set at Rmb92 for A-shares and HK$93 for H-shares, based on a 16X exit multiple applied to 2027E EPS [9] Risks - **Market Risks**: Potential risks include weaker global demand for white goods, rising material costs, execution risks in premiumization strategy, and increased competition in the low-to-mid-end segment [9] Conclusion - Midea Group demonstrates strong financial performance with robust growth in both domestic and overseas markets, supported by strategic investments in high-growth areas. The company maintains a positive outlook with a focus on enhancing shareholder returns through dividends and efficient operations.

Core Viewpoint - Midea Group reported a strong financial performance for the first half of 2025, with significant revenue and profit growth, despite facing challenges in the domestic and overseas markets [1] Financial Performance - Midea Group achieved revenue of 252.33 billion yuan, an increase of 15.68% year-on-year [1] - The profit attributable to shareholders was 26.01 billion yuan, reflecting a year-on-year increase of 25.04% [1] - The company proposed an interim dividend of 5 yuan for every 10 shares [1] Market Conditions - The domestic home appliance market showed signs of recovery, driven by the "trade-in" subsidy policy [1] - However, competition in terms of "user traffic" and "product pricing" is intensifying within the industry [1] - The overseas market continues to face challenges due to trade protectionism, currency fluctuations, and geopolitical conflicts [1] Strategic Focus - Midea Group is committed to its annual operational strategy of "simplifying to promote growth and self-disruption to directly challenge" [1] - The company continues to focus on core businesses and products, with notable success in overseas business development [1] - Overall, Midea Group's scale has further increased, and key indicators such as profitability and cash flow have improved, demonstrating operational resilience and a long-term trend of high-quality growth [1]

Summary of Midea Group's Conference Call Company Overview - **Company**: Midea Group - **Industry**: Home Appliances and Robotics Key Financial Performance - **Q2 2025 Revenue**: 123.9 billion RMB, up 11% YoY [1] - **Net Profit**: Approximately 13.6 billion RMB, up 15% YoY [1] - **Net Profit (Excluding Non-recurring Items)**: 13.5 billion RMB, up 23% YoY [1] - **Operating Cash Flow**: 23 billion RMB, up 17% YoY [1] - **H1 2025 Total Revenue**: 252.3 billion RMB, up 15.7% YoY [2] - **H1 2025 Net Profit**: 26 billion RMB, up 25% YoY [2] - **Earnings Per Share**: 3.4 RMB, up 12.9% YoY [2] Business Segment Performance - **ToC Business Revenue**: 81.9 billion RMB, up 9.3% YoY; domestic sales grew over 15% [3] - **ToB Business Revenue**: 32.3 billion RMB, up 16.6% YoY; building technology revenue grew over 25% [4] - **Central Air Conditioning**: Achieved double-digit growth, with domestic sales up 20% and exports up 35% [13] Shareholder Returns and Capital Management - **Dividend Distribution**: 5 RMB per 10 shares [5] - **Stock Buyback**: Over 10 million shares repurchased, totaling approximately 600 million RMB [5] - **A-Share Buyback Plans**: Two plans totaling 6.5 to 13 billion RMB for equity incentives and share cancellation [5] Market Trends and Challenges - **Overseas Orders**: Faced pressure in Q2 but began to recover in July and August [6] - **OEM vs. OBM Orders**: OEM orders performed poorly, while OBM brand orders were strong [6] - **Impact of North American Tariffs**: Need to monitor the effects of tariffs on global economic conditions [6] Strategic Focus and Future Outlook - **Market Share and Pricing Strategy**: Plans to adjust pricing strategies to maintain market share and improve operational efficiency [7] - **Profit Margin Target**: Expected to maintain a net profit margin close to 10% for the year [9] - **Domestic Sales Growth**: Anticipated continued growth despite potential industry headwinds [8] Organizational Changes - **Management Restructuring**: Adjustments made to optimize resource allocation and improve operational efficiency [11][12] Robotics and Technology Strategy - **Focus Areas**: Core components, factory applications, and service robots [16][17] - **Showcase of Robotics**: Plans to demonstrate interactions between humanoid robots and industrial robots [22] Energy Sector Initiatives - **New Energy Strategy**: Entering the renewable energy sector, focusing on energy-efficient solutions [18] Capital Expenditure Plans - **Future Capex**: Expected to remain below 15 billion RMB over the next three years, with some overspending due to acquisitions [20] New Business Performance - **New Business Growth**: Profit growth of 25% in new business segments, with expectations for double-digit revenue growth [21] Conclusion Midea Group is demonstrating strong financial performance with a focus on operational efficiency, strategic market adjustments, and innovative technology integration. The company is well-positioned to navigate challenges in the global market while maintaining growth in both domestic and international segments.

Core Viewpoint - *ST Shengxun (003004.SZ) reported a significant increase in revenue for the first half of 2025, but also faced a net loss attributed to shareholders [1] Financial Performance - The company achieved an operating revenue of 72.75 million yuan, representing a year-on-year growth of 27.51% [1] - The net profit attributable to shareholders was -10.24 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -11.42 million yuan [1] - The basic earnings per share were -0.1251 yuan [1]

EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公告日期，董事會成員包括(i)執行董事方洪波先生、王建國先生、顧炎民博士、管金偉先生及張添博士；(ii)非執行董事趙軍 先生；及(iii)獨立非執行董事許定波博士、肖耿博士、劉俏博士及邱鋰力博士。 第 2 頁 共 2 頁 v 1.1.1 免責聲明 EF001 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 股票發行人現金股息公告 | | | 發行人名稱 | 美的集團股份有限公司 | | 股份代號 | 00300 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 建議分派截至二零二五年六月三十日止六個月之中期股息 | | | 公告日期 | 2025年8月29日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 Midea Group Co., Ltd. 美的集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：0300） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而做出。 茲載列美的集團股份有限公司於深圳證券交易所網站(www.szse.cn)刊登的公告如 下，僅供參閱。 承董事會命 美的集團股份有限公司 董事長、執行董事兼總裁 方洪波先生 香港，2025年8月29日 於本公告日期，董事會成員包括(i)執行董事方洪波先生、王建國先生、顧炎民博 士、管金偉先生及張添博士，(ii)非執行董事趙軍先生，及(iii)獨立非執行董事許 定波博士、肖耿博士、劉俏博士及邱鋰力博士。 美的集团股份有限公司 2025 年半年度报告摘要 证券代码：000333 证券简称：美的集团 公告编号：2025-068 美的集团股份有限公司 2025 年半年度报告摘要 一、重要提示 1、本 ...

香港，2025年8月29日 本公告乃由美的集團股份有限公司（「本公司」）根據香港聯合交易所有限公司證券 上市規則第13.51(1)條作出。 根據本公司業務發展需要以及註冊資本變化等實際情況，本公司董事會（「董事 會」）建議對本公司的公司章程（「公司章程」）有關條款作出相應修訂（「建議修 訂」）。建議修訂的詳情載於本公告附錄一。除本公告附錄一所載的建議修訂以 外，公司章程所有其他條款均保持不變。 建議修訂須待本公司股東（「股東」）於本公司即將召開的臨時股東會（「臨時股東 會」）上以特別決議案方式通過，並將於臨時股東會上獲股東批准後方告生效。一 份載有（其中包括）有關建議修訂的進一步詳情及臨時股東會通告的通函，連同臨 時股東會代表委任表格將於本公司網站( www.midea.com.cn )及香港聯合交易所有 限公司網站( www.hkexnews.hk )適時刊發。 承董事會命 美的集團股份有限公司 董事長、執行董事兼總裁 方洪波先生 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而 ...