Core Viewpoint - The report highlights the premium rates of AH shares, with Northeast Electric (00042), Sinopec Oilfield Service (01033), and Zhejiang Shibao (01057) leading in premium rates, while CATL (03750), China Merchants Bank (03968), and Heng Rui Medicine (01276) are at the bottom of the list [1] Premium Rate Rankings - The top three AH shares by premium rate are: - Northeast Electric (00042) with a premium rate of 864.29% - Sinopec Oilfield Service (01033) with a premium rate of 361.80% - Zhejiang Shibao (01057) with a premium rate of 345.22% [1] - The bottom three AH shares by premium rate are: - CATL (03750) with a premium rate of -14.10% - China Merchants Bank (03968) with a premium rate of -4.16% - Heng Rui Medicine (01276) with a premium rate of 0.99% [1] Deviation Value Rankings - The top three AH shares by deviation value are: - Sinopec Oilfield Service (01033) with a deviation value of 89.71% - Northeast Electric (00042) with a deviation value of 34.53% - Zhongwei New Materials (02579) with a deviation value of 25.28% [1] - The bottom three AH shares by deviation value are: - Zhejiang Shibao (01057) with a deviation value of -53.92% - Changfei Optical Fiber (06869) with a deviation value of -35.50% - Nanhua Futures (02691) with a deviation value of -30.81% [1] Additional Insights - The report includes detailed tables showing the premium rates and deviation values for various AH shares, indicating significant disparities in market valuations between H-shares and A-shares [2]

Group 1 - Midea Group announced that on January 30, 2026, it will accept an investor survey conducted by Changjiang Securities, with the company's management participating in the reception and answering questions from investors [1]

Group 1: Business Strategy - In 2026, Midea's business strategy focuses on "core growth," aiming to achieve a leading global position in white goods and HVAC sectors, targeting to be "number one or two" globally [2] - The company emphasizes the need to strengthen market advantages in technology innovation and user experience to achieve its global market goals [2] - Midea plans to maintain strategic focus on robotics, energy, and healthcare sectors, which have significant market potential and are crucial for navigating economic cycles [2] Group 2: Raw Material Management - Midea has implemented bulk procurement strategies to mitigate the impact of raw material price fluctuations, which have seen significant volatility [3] - In 2021, copper prices increased by approximately 40%, leading to a slight decline in net profit margin by less than 1%, but by 2022, the net profit margin had returned to an upward trajectory [3] - The company will address future raw material price volatility through cost reduction via technology development, product structure upgrades, efficiency improvements across the value chain, and optimized supply chain management [3] Group 3: AI Empowerment - Midea's Wuhu kitchen appliance factory has been recognized as a "lighthouse factory" by the World Economic Forum, marking it as the first fully AI-enabled water heater factory globally [4] - The factory utilizes AI for comprehensive data transparency across 23 process nodes, with a 39% improvement in end-to-end delivery cycles, significantly exceeding the industry average improvement of 10%-15% [4] - Midea is integrating AI tools into its home appliance products, creating a unified ecosystem of "people, vehicles, and homes," and collaborating with major partners like Huawei and BYD to enhance connectivity [5]

Group 1 - Midea Group is a leading technology-driven enterprise, having invested over 7 billion yuan to build the Shanghai Midea Global Innovation Park, which is set to be completed in July 2025, with nearly 2,000 people already settled in, covering cutting-edge fields such as artificial intelligence, humanoid robots, and smart healthcare [2] - Midea Group is the absolute leader in China's home appliance industry, having been listed in the Fortune Global 500 for ten consecutive years, and is the only home appliance company in China with revenue exceeding 400 billion yuan, demonstrating significant global commercial influence [3] - The park is located in the core area of the Xihongqiao Business District in Qingpu District, Shanghai, adjacent to the National Exhibition and Convention Center, and is Midea's second global innovation and R&D base in China after Shunde, Foshan, with a total construction area of approximately 400,000 square meters, accommodating 8,000 to 10,000 high-end R&D talents [5] Group 2 - The building is designed by the Beijing Institute of Architectural Design's Ma Long Studio, with the core concept of "a technology park above the forest," featuring two L-shaped towers that form a super-scale circular building with a side length of approximately 240 meters [6] - The project employs a pioneering "group tube - large-span cable-stayed" structural system, with a maximum span of 70 meters and a maximum cantilever of 45 meters, making it the largest in domestic civil architecture with 172 cable-stayed steel cables, the largest diameter reaching 214 millimeters, and a breaking force exceeding 4,000 tons [11] - The building facade utilizes a double-layer curtain wall system, with the outer layer of white perforated metal panels that can intelligently adjust according to the angle of sunlight, and the roof integrates approximately 20,000 square meters of photovoltaic panels, expected to meet 20% of the park's annual electricity consumption, achieving efficient use of green energy [13] Group 3 - As the core of the digital economy industrial belt in Qingpu District, the park collaborates with Huawei's Lianqiuhui and NetEase's eSports Industrial Park, becoming a highland for ecological and green integrated development in the Yangtze River Delta, aiding Midea's acceleration towards becoming a globally leading technology group [15]

Group 1 - The top three companies with the highest AH premium rates are Northeast Electric (00042) at 831.03%, Zhejiang Shibao (01057) at 339.32%, and Sinopec Oilfield Service (01033) at 323.71% [1][2] - The bottom three companies with the lowest AH premium rates are CATL (03750) at -14.62%, China Merchants Bank (03968) at -3.22%, and Hengrui Medicine (01276) at 1.77% [1][2] - Sinopec Oilfield Service (01033), Andeli Juice (02218), and Shandong Molong (00568) have the highest deviation values at 53.41%, 21.68%, and 19.01% respectively [1][2] Group 2 - The companies with the lowest deviation values include Zhejiang Shibao (01057) at -58.91%, Yangtze Optical Fibre and Cable (06869) at -49.00%, and Fudan Zhangjiang (01349) at -24.81% [1][2][4] - The top ten AH stocks by premium rate include companies like Hongye Futures (03678) and Beijing Electromechanical (00187) with premium rates of 258.91% and 257.99% respectively [2] - The bottom ten AH stocks by premium rate include Weichai Power (02338) and Midea Group (00300) with premium rates of 6.84% and 8.51% respectively [2]

Core Viewpoint - Midea Group announced a share repurchase plan and the issuance of shares under stock option incentive plans, indicating a strategic move to enhance shareholder value and employee motivation [1] Group 1 - The company plans to repurchase 7,100 A-shares at a cost of RMB 537,800 on January 29, 2026 [1] - Under the eighth stock option incentive plan, the company will issue 13,400 shares [1] - Under the ninth stock option incentive plan, the company will issue 67,800 shares [1]

Core Viewpoint - Midea Group announced a share buyback plan and the issuance of shares under stock option incentive plans, indicating a strategic move to enhance shareholder value and employee motivation [1] Group 1: Share Buyback - The company will repurchase 7,100 A-shares at a cost of RMB 537,800, scheduled for January 29, 2026 [1] Group 2: Stock Option Plans - Under the eighth stock option incentive plan, the company will issue 13,400 shares [1] - Under the ninth stock option incentive plan, the company will issue 67,800 shares [1]

Group 1 - The core point of the article is that Midea Group announced a share buyback plan, intending to repurchase 7,100 A-shares at a total cost of RMB 537,800 [1] - The buyback price per share ranges from RMB 75.57 to RMB 75.99 [1]

FF305 呈交日期： 2026年1月29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 | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | ...

Group 1 - The white goods sector increased by 2.42% on January 29, with Midea Group leading the gains [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] - Midea Group's stock price rose by 3.37% to 77.88, with a trading volume of 622,400 shares and a transaction value of 4.784 billion yuan [1] Group 2 - The white goods sector experienced a net outflow of 169 million yuan from institutional investors and 195 million yuan from speculative funds, while retail investors saw a net inflow of 364 million yuan [3] - Midea Group had a net inflow of 24.2 million yuan from institutional investors, while it faced a net outflow of 28.4 million yuan from speculative funds [3] - Gree Electric experienced a net outflow of 119 million yuan from institutional investors and a net inflow of 138 million yuan from retail investors [3]