Core Viewpoint - The article highlights the impressive performance of Midea Group amidst a complex market environment, showcasing its strong financial results and innovative "smart factory" model as key drivers for future growth and competitive advantage [3][4][20]. Financial Performance - Midea Group reported a total revenue of 252.3 billion yuan for the first half of the year, representing a year-on-year growth of 15.7% [4]. - The net profit attributable to the parent company reached 26 billion yuan, marking a 25% increase compared to the previous year [4]. - The smart home segment generated revenue of 167.2 billion yuan, up 13.3% year-on-year, while the new energy and industrial technology segment saw a revenue increase of 28.6% to 22 billion yuan [6]. Smart Factory Innovation - Midea's "smart factory" in Jingzhou has been certified by the World Record Certification Agency as the world's first multi-scenario intelligent factory, showcasing its advanced manufacturing capabilities [4][8]. - The factory utilizes 14 intelligent agents covering 38 core production scenarios, significantly enhancing production efficiency with an average improvement of over 80% in task completion time [8]. Technological Integration - The "smart factory" integrates AI and big data analytics, processing 3 billion industrial data points daily to optimize production and supply chain management [10][12]. - Midea's self-developed industrial AI system, "Midea Factory Brain," facilitates seamless collaboration among intelligent agents, enhancing overall operational efficiency [12]. Market Position and Future Potential - Midea's diverse business portfolio across smart home, industrial technology, and robotics positions it uniquely in the market, creating a substantial barrier to entry for competitors [13][14]. - The company is transitioning from traditional manufacturing to a "data economy," leveraging its vast industrial data to drive innovation and enhance product offerings [15][16]. - Midea's smart factory solutions not only improve its own operations but also provide opportunities to empower other industrial enterprises, expanding its market share in intelligent manufacturing [11][18]. Strategic Outlook - Midea's focus on AI integration and smart manufacturing is expected to yield significant economic benefits, as evidenced by its strong financial performance [12][21]. - The company's ability to adapt to market changes and customer demands through data-driven strategies positions it for sustained growth and competitive advantage in the global manufacturing landscape [20][22].

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。 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。 证券代码：000333 证券简称：美的集团 公告编号：2025-067 美的集团股份有限公司 第五届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 ...

Core Viewpoint - Midea Group's Jingzhou factory is the world's first "intelligent body" factory, featuring 14 intelligent bodies covering 38 core production scenarios, showcasing significant advancements in automation and efficiency [1][2]. Group 1: Intelligent Body Factory Overview - The Jingzhou factory is recognized as Midea's first fully connected 5G factory, which supports the operation of intelligent bodies and data transmission [9]. - The factory integrates advanced manufacturing experiences and is designed to embrace new technologies like AI from the ground up [9]. - The intelligent body factory operates with a "factory brain" that coordinates various intelligent terminals, enhancing the efficiency of production processes [6][10]. Group 2: Role of Robots and AI - The humanoid robot "Mei Luo" and other intelligent devices like the "Yutu" inspection robot and AI glasses are actively involved in production, significantly reducing the need for human labor [4][5]. - The introduction of robots like Yutu has improved the reliability and efficiency of tasks such as inspection, which were previously performed by humans, achieving an average efficiency increase of over 80% [6][10]. - The AI glasses assist in quality checks, automating the identification of errors and enhancing accuracy in inspections [10][13]. Group 3: Future Developments and Challenges - Midea aims to evolve the intelligent body factory into a self-learning ecosystem, where robots can make autonomous decisions based on inspection results [10]. - The transition to an intelligent body factory involves rethinking traditional job roles and responsibilities, allowing for more flexible task assignments among robots [9][12]. - Midea's leadership acknowledges the challenges of implementing these new technologies and emphasizes the need for continuous testing and adaptation to create a successful intelligent body factory [9][10].

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 該等內容而引致的任何損失承擔任何責任。 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。 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） 截至2025年6月30日止六個月的 中期業績公告 美的集團股份有限公司（「本公司」，及其附屬公司「本集團」）董事（「董事」）會 （「董事會」）謹此宣佈本集團截至2025年6月30日止六個月的未經審核綜合業績。 本公告載有本公司2025年中期報告（「2025年中期報告」）全文，並符合香港聯合交 易所有限公司（「香港聯交所」）證券上市規則有關中期業績初步公告附載資料的相 關規定。 ...

Core Insights - The article highlights the top and bottom AH share premium rates as of August 29, with Northeast Electric (00042) leading at 785.25% and Ningde Times (03750) at -13.55% [1][2][3] Group 1: Top AH Share Premium Rates - Northeast Electric (00042) has a premium rate of 785.25% with a deviation value of 5.90% [2] - Andeli Juice (02218) follows with a premium rate of 253.20% and a deviation value of 40.75% [2] - Hongye Futures (03678) ranks third with a premium rate of 246.76% and a deviation value of 17.02% [2] Group 2: Bottom AH Share Premium Rates - Ningde Times (03750) has the lowest premium rate at -13.55% with a deviation value of 6.61% [2] - Heng Rui Medicine (01276) shows a premium rate of 4.11% and a deviation value of 7.74% [2] - China Merchants Bank (03968) has a premium rate of 7.02% with a deviation value of 1.87% [2] Group 3: Top AH Share Deviation Values - Jinli Permanent Magnet (06680) leads with a deviation value of 42.99% and a premium rate of 121.34% [3] - Andeli Juice (02218) again appears with a deviation value of 40.75% [3] - Zhejiang Shibao (01057) has a deviation value of 25.37% [3] Group 4: Bottom AH Share Deviation Values - BYD Company (01211) has the lowest deviation value at -66.83% with a premium rate of 19.42% [3] - Longpan Technology (02465) follows with a deviation value of -46.69% [3] - Great Wall Motors (02333) has a deviation value of -22.48% [3]

Core Insights - Midea Group's intelligent factory in Jingzhou is the first of its kind globally, integrating humanoid robots and AI technologies to enhance production efficiency and quality control [3][7][12] - The introduction of robots like "Mei Luo" and "Yutu" has significantly improved operational efficiency, achieving an average productivity increase of over 80% and a 90% improvement in production scheduling response time [5][6][12] Group 1: Intelligent Factory Overview - The Jingzhou factory is recognized as Midea's first "intelligent body" factory, featuring 14 intelligent bodies covering 38 core production scenarios [3][7] - The factory operates as a connected ecosystem where various intelligent devices, including humanoid robots and autonomous mobile robots (AMRs), work collaboratively under a central "brain" for task scheduling and execution [6][8] Group 2: Robot Functionality and Impact - "Mei Luo" has been effectively performing tasks such as quality inspections and equipment checks, demonstrating its proficiency after three months of operation [3][4] - "Yutu" is responsible for reliability testing of washing machines, replacing human labor and enhancing accuracy and efficiency in inspections [5][11] Group 3: Future Developments and Innovations - Midea plans to further develop "Yutu Pro," which will include additional functionalities for autonomous operation and fault diagnosis, creating a closed-loop system for inspection and maintenance [5][10] - The intelligent factory is seen as a living entity capable of self-evolution, with data continuously feeding into the factory's central brain to improve processes and decision-making [10][12] Group 4: Strategic Vision and Industry Positioning - Midea aims to set new standards for Chinese manufacturing through the development of intelligent factories, positioning itself as a leader in the integration of AI and automation in production [13][14] - The transition to an intelligent factory model reflects a significant shift in manufacturing paradigms, moving from traditional automation to a more autonomous and adaptive system [12][14]

Group 1 - Midea Group has announced that its subsidiary, Ande Zhihui, has submitted an application for an H-share listing on the Hong Kong Stock Exchange, with the expected listing date being August 27, 2025 [1] - The initial issuance scale for Ande Zhihui's H-shares is set to be no more than 20% of the enlarged total share capital immediately after the issuance, excluding any exercise of the over-allotment option [1] - Underwriters will be granted an over-allotment option of up to 15% of the initial issuance scale of Ande Zhihui's H-shares [1] Group 2 - Following the proposed spin-off listing, Ande Zhihui will continue to be a controlling subsidiary of Midea Group [1]

Group 1 - The core point of the article is that Midea Group plans to spin off its non-wholly owned subsidiary, Ande Zhili Supply Chain Technology Co., Ltd. ("Ande Zhili"), for a public listing [1] - Ande Zhili has submitted its listing application to the Hong Kong Stock Exchange on August 27, 2025, through its joint sponsors [1]

Core Insights - The top three companies with the highest AH premium rates are Northeast Electric (00042) at 770.97%, Hongye Futures (03678) at 252.57%, and Andeli Juice (02218) at 238.08% [1][2] - The bottom three companies with the lowest AH premium rates are CATL (03750) at -18.73%, Midea Group (00300) at 6.86%, and Heng Rui Medicine (01276) at 7.43% [1][2] - The companies with the highest deviation values are Beijing Machinery (00187) at 32.43%, Andeli Juice (02218) at 29.55%, and Fudan Zhangjiang (01349) at 29.44% [1][3] - The companies with the lowest deviation values are BYD (01211) at -84.97%, Longpan Technology (02465) at -62.46%, and GAC Group (02238) at -26.17% [1][3] AH Premium Rate Rankings - The top AH stocks by premium rate include: - Northeast Electric (00042): H-share at 0.310 HKD, A-share at 2.25 CNY, premium rate 770.97%, deviation -23.02% [2] - Hongye Futures (03678): H-share at 4.280 HKD, A-share at 12.6 CNY, premium rate 252.57%, deviation 25.11% [2] - Andeli Juice (02218): H-share at 17.780 HKD, A-share at 50.18 CNY, premium rate 238.08%, deviation 29.55% [2] - The bottom AH stocks by premium rate include: - CATL (03750): H-share at 410.200 HKD, A-share at 278.3 CNY, premium rate -18.73%, deviation 1.21% [2] - Midea Group (00300): H-share at 81.500 HKD, A-share at 72.71 CNY, premium rate 6.86%, deviation -1.78% [2] - Heng Rui Medicine (01276): H-share at 72.500 HKD, A-share at 65.03 CNY, premium rate 7.43%, deviation 11.64% [2] Deviation Value Rankings - The top AH stocks by deviation value include: - Beijing Machinery (00187): H-share at 4.950 HKD, A-share at 13.24 CNY, premium rate 220.40%, deviation 32.43% [3] - Andeli Juice (02218): H-share at 17.780 HKD, A-share at 50.18 CNY, premium rate 238.08%, deviation 29.55% [3] - Fudan Zhangjiang (01349): H-share at 3.590 HKD, A-share at 10.06 CNY, premium rate 235.65%, deviation 29.44% [3] - The bottom AH stocks by deviation value include: - BYD (01211): H-share at 115.100 HKD, A-share at 110.68 CNY, premium rate 15.18%, deviation -84.97% [3] - Longpan Technology (02465): H-share at 10.320 HKD, A-share at 14.37 CNY, premium rate 66.76%, deviation -62.46% [3] - GAC Group (02238): H-share at 3.690 HKD, A-share at 7.88 CNY, premium rate 155.83%, deviation -26.17% [3]

Core Viewpoint - The company *ST Shengxun (003004.SZ) primarily operates in urban rail transit, finance, and medical sectors, and has not yet entered the military supplier system [1] Group 1 - The company's main business applications are in urban rail transit [1] - The company also serves the finance sector [1] - The company is involved in the medical field [1] Group 2 - The company has not yet become a supplier for military applications [1]