"为什么你去年问我，今年又问我，你问过董小姐吗？" "为什么你去年问我，今年又问我，你问过董小姐吗？" 方洪波所说的"董小姐"，是指格力电器（000651.SZ）董事长董明珠。13年前，方洪波、董明珠接替所在公司的创始人，分别出任美的集团、格力电器董事 长。如今，这两大龙头企业是否又到了再次"交接班"的时候了呢？ 今年，格力电器的董事会、高管团队都增加了年轻成员，而方洪波所说的六七个"苗子"又是谁呢？ 美的年轻高管梯队丰富 在5月8日的分析师会议上，美的集团（000333.SZ、00300.HK）董事长兼总裁方洪波被问到企业接班问题时的回答引发热议。 全场大笑后，方洪波说："人年纪大了认知会退化，慢慢就会让人讨厌，可那时候自己不知道被讨厌，甚至还以为大家很喜欢。我一定不会让自己拖到那 天，已经有六七个可随时接班的人了，但现在不能告诉你，大股东我都还没告诉他。" 今日，有关人士向第一财经记者确认，美的集团5月8日举行了分析师会议，方洪波在会上有上述表态。 目前，美的集团董事会、高管层中，年轻管理人员梯队丰富。 据美的集团2024年年报，在公司董事、高级管理人员中，方洪波58岁，比他年轻的非独立董事有两位，分别是 ...

在空调、冰箱、洗衣机、厨电等领域，美的和海信是竞争对手。但在昨晚，美的集团（000333.SZ、 00300.HK）董事长兼总裁方洪波与海信集团董事长贾少谦罕见同框，见证美的集团与海信集团战略合 作的签约。 从目前透露的信息看，双方将在AI智能体的应用、全球产能布局、智慧物流等方面合作。有意思的 是，两位今年同时上榜福布斯"中国杰出商界女性100"的美的、海信高管——美的集团副总裁兼CFO钟 铮、海信集团副总裁兼海信家电（000921.SZ、00921.HK）董事长高玉玲代表双方签约。 曾有多位国内家电经销商告诉笔者，在其收入中，前四大品牌分别为美的、海尔、海信、格力。美的集 团有白色家电、小家电业务，产品线丰富，且近年在供应链效率提升方面积极变革，其去年收入4071亿 元，其中智能家居业务收入2695亿元。海信集团的黑电、白电业务近年均稳步增长，其去年收入2022亿 元，其中做黑电的海信视像（600060.SH）收入585.3亿元、做白电的海信家电收入927.46亿元。 和海尔、格力等竞争对手相比，美的与海信的合作空间更大。因为海尔智家（600690.SH、06690.HK） 也有自己的"日日顺"物流业务， ...

Core Insights - *ST Shengxun (003004) closed at 18.18 yuan on May 8, 2025, down 1.03% with a turnover rate of 20.31% and a trading volume of 133,700 lots, amounting to 236 million yuan [1] - The company reported a total revenue of 19.33 million yuan for Q1 2025, a year-on-year decrease of 1.35%, and a net profit attributable to shareholders of 14.08 million yuan, down 32.85% year-on-year [1] - The company has a current ratio of 3.385, a quick ratio of 3.085, and a debt-to-asset ratio of 38.31% [1] Financial Performance - The net profit after deducting non-recurring items was 15.05 million yuan, reflecting a year-on-year decrease of 41.98% [1] - Major capital inflows included a net inflow of 75.60 million yuan from main funds, accounting for 32.09% of the total transaction amount [1] - Large orders saw a net inflow of 21.09 million yuan, representing 8.95% of the total transaction amount [1] Company Overview - Beijing Shengxun Electronics Co., Ltd. was established in 1994 and is primarily engaged in the manufacturing of computers, communications, and other electronic devices [2] - The company has invested in 26 enterprises and participated in 676 bidding projects [2] - It holds 33 trademark registrations and 179 patents, along with 18 administrative licenses [2]

| 朝云集团(06601) | 558.91 | 0.87 | 1 | | --- | --- | --- | --- | | 招商银行(03968) | 90208.86 | 0.84 | 1 | | 新天绿色能源(00956) | 3408.94 | 0.81 | 3 | | 新吉奥房车(00805) | 519.87 | 0.79 | 2 | | 赢家时尚(03709) | 881.37 | 0.78 | 1 | | 耀才证券金融(01428) | 142664.51 | 0.78 | 1 | | 粤港湾控股(01396) | 829.66 | 0.76 | 5 | | 同源康医药-B(02410) | 8492.89 | 0.73 | 2 | | 长飞光纤光缆(06869) | 12912.22 | 0.70 | 1 | | 国美零售(00493) | 297.49 | 0.70 | 1 | | 中远海运港口(01199) | 3644.33 | 0.68 | 6 | | 亨利加集团(03638) | 165.42 | 0.60 | 4 | | 茂盛控股(00022) | 512.32 | 0.59 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a potential upside of 15% to 35% [6][12]. Core Insights - The company reported a total revenue of RMB 128.43 billion for Q1 2025, reflecting a year-over-year increase of 20.6%. The net profit attributable to the parent company was RMB 12.42 billion, up 38.0% year-over-year, slightly exceeding expectations due to government appliance subsidy policies and foreign exchange gains [10]. - The company's smart home business saw a revenue increase of 17.4% year-over-year, driven by the national appliance replacement policy and strong overseas sales growth. The commercial and industrial solutions segment grew by 25.3%, with the new energy and industrial technology segment experiencing a remarkable 45% growth [10]. - The report forecasts net profits for 2025, 2026, and 2027 to be RMB 44.46 billion, RMB 48.02 billion, and RMB 52.17 billion, respectively, with year-over-year growth rates of 15.4%, 8.0%, and 8.6% [10]. Company Overview - The company operates in the home appliance industry, with a current H-share price of HKD 74.45 and a target price of HKD 96 [3][2]. - Major shareholders include Midea Holding Co., Ltd., which holds 28.32% of the shares [3]. - The company has a market capitalization of approximately RMB 488.35 billion [3]. Financial Performance - The company’s earnings per share (EPS) for 2025 is projected to be RMB 5.80, with a price-to-earnings (P/E) ratio of 12X for H-shares [10]. - The dividend per share (DPS) is expected to be RMB 3.48 for 2025, yielding a dividend yield of 4.70% [10]. Sales and Profitability - The report notes a change in sales structure affecting gross margins, with a slight year-over-year decline in gross margin by approximately 1 percentage point due to accounting standard changes [10]. - Financial expenses decreased by 2.7 percentage points, primarily due to increased foreign exchange gains, impacting financial income by approximately RMB 2.8 billion [10].

Investment Rating - The investment rating for the company is "Buy" with a target price of HKD 96 [2][6]. Core Insights - The company reported a total revenue of RMB 128.43 billion for Q1 2025, representing a year-over-year increase of 20.6%. The net profit attributable to the parent company was RMB 12.42 billion, up 38.0% year-over-year [10]. - The growth in the home appliance sector is driven by government subsidy policies and expansion into overseas markets. The smart home business saw a revenue increase of 17.4% year-over-year, while the commercial and industrial solutions segment grew by 25.3% [10]. - The company is expected to benefit from continued domestic sales growth due to appliance subsidy policies and ongoing international market expansion. The projected net profits for 2025-2027 are RMB 44.46 billion, RMB 48.02 billion, and RMB 52.17 billion, respectively, with year-over-year growth rates of 15.4%, 8.0%, and 8.6% [10]. Summary by Sections Company Basic Information - The company operates in the home appliance industry, with a current H-share price of HKD 74.45 and a market capitalization of RMB 488.35 billion [3]. - Major shareholder is Midea Holding Co., Ltd. with a 28.32% stake [3]. Recent Ratings - The last rating update was on March 18, 2025, with a closing price of HKD 80.2 and a "Buy" recommendation [4]. Financial Performance - The company’s net profit for 2023 is projected at RMB 33.72 billion, with an expected increase to RMB 38.54 billion in 2024 and RMB 44.46 billion in 2025 [9]. - The earnings per share (EPS) for 2025 is forecasted to be RMB 5.80, with a price-to-earnings (P/E) ratio of 12.77 for H-shares [9]. Revenue and Profit Forecast - The company’s total revenue is expected to reach RMB 454.4 billion in 2025, with a gross profit margin impacted by changes in sales structure [13]. - The financial forecast indicates a steady increase in operating income and net profit over the next few years, reflecting strong growth potential in both domestic and international markets [10][13].

今日，港股又乘假期抢跑，主要指数集体收涨，恒生指数涨1.74%，国指涨1.92%，恒生科技指数涨3.08%。 | 代码 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 800000 | 恒生指数 | O | 22504.68 | +385.27 | 1.74% | | 800100 | 国企指数 | | 8231.04 | +154.78 | 1.92% | | 800700 | 恒生科技指数 | | 5244.06 | +156.64 | 3.08% | 科网股全线大涨，小米集团涨超6%，阿里巴巴、京东涨超3%，腾讯涨超2%，美团、网易、百度涨超1%。 | 代码 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | 总市值v | | --- | --- | --- | --- | --- | --- | --- | | 00700 | 腾讯控股 | O | 487.800 | +10.600 | 2.22% | 44894.05亿 | | 09988 | 阿里巴巴-W | | 122.000 | +4.500 | 3.83 ...

1）业绩速递 工商银行(01398.HK)：一季度营收2046.88亿元，同比减少2.61%；净利润841.56亿元，同比减少3.99%。 建设银行(00939.HK)：一季度经营收入1859.9亿元，同比减少4.76%；净利润833.51亿元，同比减少3.99%。 农业银行(01288.HK)：一季度营收1867.35亿元，同比增长0.32%；净利润为719.31亿元，同比增长2.2%。 中国银行(03988.HK)：一季度营收1649.11亿元，同比增加2.41%；净利润586.44亿元，同比减少2.22%。 邮储银行(01658.HK)：一季度营收894.06亿元，同比减少0.1%；净利润252.46亿元，同比减少2.62%。 招商银行(03968.HK)：一季度营收837.31亿元，同比减少3.11%；净利润372.86亿元，同比减少2.08%。 交通银行(03328.HK)：一季度净经营收入664.4亿元，同比减少1.13%；净利润253.72亿元，同比增加1.54%。 汇丰控股(00005.HK)：一季度收入176.49亿美元，同比减少14.95%；除税后利润75.7亿美元，同比减少30.15%。 ...

Financial Performance - Revenue for Q1 2025 reached CNY 127.84 billion, a 20.49% increase compared to CNY 106.10 billion in the same period last year[8] - Net profit attributable to shareholders was CNY 12.42 billion, reflecting a 38.02% increase from CNY 9.00 billion year-over-year[8] - Basic earnings per share increased to CNY 1.64, a rise of 25.19% from CNY 1.31[8] - Operating profit for Q1 2025 was RMB 15.12 billion, up 42.9% from RMB 10.65 billion in Q1 2024[26] - Net profit attributable to shareholders for Q1 2025 was RMB 12.42 billion, representing a 38.5% increase compared to RMB 9.00 billion in Q1 2024[27] Cash Flow - The net cash flow from operating activities was CNY 14.32 billion, up 2.81% from CNY 13.93 billion in the previous year[8] - Cash flow from operating activities for Q1 2025 showed significant improvement, reflecting the company's strong operational performance[28] - In Q1 2025, the total cash inflow from operating activities was RMB 115,929,183 thousand, an increase of 20.4% compared to RMB 96,290,124 thousand in Q1 2024[29] - The net cash flow from operating activities for the company was RMB 6,162,883 thousand in Q1 2025, compared to a negative RMB 695,146 thousand in Q1 2024[29] - The company reported a cash inflow of RMB 3,721,907 thousand from tax refunds in Q1 2025, compared to RMB 2,430,455 thousand in Q1 2024[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 634.78 billion, representing a 5.04% increase from CNY 604.35 billion at the end of the previous year[8] - Total liabilities as of March 31, 2025, amounted to RMB 393.16 billion, an increase from RMB 376.68 billion as of December 31, 2024[22] - Total equity as of March 31, 2025, was RMB 241.63 billion, compared to RMB 227.67 billion as of December 31, 2024, reflecting a growth of 6.1%[23] - Current assets total RMB 419,851,157,000, up from RMB 389,063,786,000 in the previous period[20] - Non-current assets total RMB 214,933,552,000, slightly down from RMB 215,288,067,000[21] Revenue Breakdown - Revenue from new energy and industrial technology reached CNY 11 billion, a 45% year-over-year growth[9] - Revenue from smart building technology was CNY 9.9 billion, showing a 20% increase compared to the previous year[9] - Revenue from robotics and automation was CNY 7.3 billion, reflecting a 9% growth year-over-year[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 252,066, with 252,007 being A-share holders[16] - Midea Holdings Limited holds 28.32% of shares, amounting to 2,169,178,713 shares, making it the largest shareholder[16] Investment and R&D - The company reported a significant increase in investment income, which rose by 1,807.52% to CNY 533.80 million due to gains from the disposal of trading financial assets[14] - Research and development expenses for Q1 2025 were RMB 4.35 billion, an increase from RMB 3.59 billion in Q1 2024[25] - The company has ongoing investments in new technologies and products, although specific figures were not disclosed in the provided content[19] Operational Costs - The company reported a total operating cost of RMB 112.77 billion for Q1 2025, compared to RMB 95.74 billion in Q1 2024, indicating a 17.8% increase[25] - The company’s cash outflow for purchasing goods and services was RMB 67,837,319 thousand in Q1 2025, compared to RMB 53,754,061 thousand in Q1 2024, indicating a 25.9% increase[29] Other Financial Activities - Cash inflow from investment activities totaled RMB 30,002,440 thousand in Q1 2025, while cash outflow was RMB 53,219,113 thousand, resulting in a net cash flow of negative RMB 23,216,673 thousand[30] - The company received RMB 21,678,276 thousand in cash from borrowings in Q1 2025, significantly higher than RMB 4,127,287 thousand in Q1 2024[31] - The net cash flow from financing activities was RMB 7,333,433 thousand in Q1 2025, recovering from a negative RMB 5,090,826 thousand in Q1 2024[31] Inventory Management - The total inventory decreased to RMB 52,740,554,000 from RMB 63,339,188,000, indicating improved inventory management[20] Audit Information - The company did not conduct an audit for the Q1 2025 report[32]

智通财经APP获悉，截止4月17日，未平仓空单比位列前三位为药明康德（02359）、赣锋锂业 （01772）、万科企业（02202），空仓比分别为15.63%、14.23%、13.24%。 未平仓空单比（绝对值）较上一次减少最多为再鼎医药（09688）、美的集团（00300）、康龙化成 （03759），分别减少-1.31%、-0.80%、-0.76%。 前10大未平仓空仓比 | 股票名称 | 前次空仓数 | 本次空仓数 | 最新空仓比↓ | | --- | --- | --- | --- | | 药明康德(02359) | 6168.69 万股 | 6050.95 万股 | 15.63% | | 赣锋锂业(01772) | 5893.42 万股 | 5743.15 万股 | 14.23% | | 万科企业(02202) | 2.59 亿股 | 2.92 亿股 | 13.24% | | 中兴通讯(00763) | 9237.00 万股 | 9472.26 万股 | 12.54% | | BRILLIANCE CHI(01114) | 6.18 亿股 | 6.15 亿股 | 12.18% | | 福莱特玻璃(06 ...