Market Overview - The Shanghai Composite Index rose by 0.15% on April 15, with 12 sectors experiencing gains, led by the beauty and personal care sector at 2.27% and the banking sector at 1.50% [1] - The home appliance sector ranked third in terms of gains for the day [1] - Conversely, the defense and military industry and retail sector saw declines of 1.78% and 1.37%, respectively [1] Capital Flow - The main capital flow showed a net outflow of 19.301 billion yuan across both markets, with 11 sectors experiencing net inflows [1] - The media sector led the net inflow with 800.2 million yuan and a daily increase of 0.96%, followed by the banking sector with a net inflow of 780 million yuan and a daily increase of 1.50% [1] - A total of 20 sectors experienced net outflows, with the electronics sector leading at 3.841 billion yuan, followed by the computer sector at 2.799 billion yuan [1] Home Appliance Sector Performance - The home appliance sector increased by 1.35% with a net inflow of 278 million yuan, comprising 95 stocks, of which 51 rose and 38 fell [2] - The top three stocks with the highest net inflow were Midea Group at 187 million yuan, Gree Electric Appliances at 161 million yuan, and Shenzhen Konka at 143 million yuan [2] - The stocks with the highest net outflows included Sanhua Intelligent Control at 63.297 million yuan, Stone Technology at 60.431 million yuan, and Starlight Shares at 45.593 million yuan [2] Notable Stocks in Home Appliance Sector - Midea Group: Increased by 2.23% with a turnover rate of 0.50% and a main capital flow of 187.256 million yuan [2] - Gree Electric Appliances: Increased by 2.21% with a turnover rate of 0.94% and a main capital flow of 160.982 million yuan [2] - Shenzhen Konka: Increased by 7.58% with a turnover rate of 17.10% and a main capital flow of 143.227 million yuan [2]

Core Viewpoint - Midea Group is focusing on three key areas for 2025: prioritizing overseas self-owned brands, transforming to a direct-to-consumer model, and developing its To B (business and industrial solutions) business [1] Group 1: Financial Performance and Market Response - Midea Group's revenue from the U.S. is relatively low, which may mitigate the impact of U.S. tariffs on its performance [1] - Following the release of its annual report on March 28, Midea's stock price fell over 15%, from a high of 80.50 CNY per share on March 31 to 67.19 CNY on April 7 [1][2] - The company announced a share buyback plan of up to 10 billion CNY, with a minimum of 5 billion CNY, using its own funds or stock repurchase loans [2] Group 2: Global Operations and Strategy - Midea operates over 400 subsidiaries, 38 R&D centers, and 44 major manufacturing bases globally, employing over 190,000 people across more than 200 countries and regions [1] - The company is accelerating its "China supply to the world + regional supply" model, with 22 R&D centers and 23 major manufacturing bases established overseas [1] Group 3: Robotics and AI Development - Midea Group ranks among the top four in the global industrial robotics industry following its acquisition of KUKA in 2017 [2] - The company is focusing on three areas in humanoid robotics: core component research and development, integration of robotics and AI in home appliances, and development of complete robotic systems [2] - Midea is exploring new breakthroughs in digital transformation through applications in AIGC (Artificial Intelligence Generated Content), middleware technology, and big data [2]

Core Viewpoint - Midea Group focuses on three key areas for 2025: prioritizing overseas self-owned brands, transforming to a direct-to-consumer (DTC) model, and developing its ToB (business and industrial solutions) business [1] Group 1: Financial Performance - In 2024, Midea Group achieved total revenue of 409.1 billion yuan, a year-on-year increase of 9.5%, and a net profit attributable to the parent company of 38.5 billion yuan, up 14.3% [1] - The net cash flow from operating activities reached 60.5 billion yuan, marking a historical high [1] Group 2: Business Segmentation - Domestic business revenue was 238.1 billion yuan, a year-on-year growth of 7.68%, while overseas business revenue reached 169 billion yuan, growing by 12.01% [2] - The ToB business revenue proportion increased from 18.5% in 2020 to 25.5% in 2024, with revenue exceeding 100 billion yuan for the first time [2] Group 3: Overseas Expansion - Midea Group operates in over 200 countries and regions, with a low revenue share from the U.S. and plans to expand overseas manufacturing and new factory construction [2] - The company has established 22 R&D centers and 23 major manufacturing bases across multiple continents [2] Group 4: Robotics Industry - Midea Group ranks among the top four global industrial robot companies following its acquisition of KUKA in 2017, and has since established a robotics and automation division [2] - In 2024, KUKA China launched 27 new products, achieving significant market performance, with a domestic market share of approximately 8.2% for industrial robots [3][4] Group 5: Industry Applications - KUKA China's industrial robot business has seen rapid growth in the 3C consumer electronics sector and strengthened partnerships in the new energy vehicle industry, achieving record order volumes [4] - The company has expanded applications in logistics, including stacker robots in new industries such as tobacco and tires, and has made breakthroughs in pharmaceuticals and chemicals [4]

Group 1: Financial Performance - In 2024, Midea Group achieved total revenue of CNY 409.1 billion, a year-on-year increase of 9.5% [6] - The net profit attributable to the parent company reached CNY 38.5 billion, growing by 14.3% year-on-year [6] Group 2: Research and Development - From 2022 to 2024, Midea's total R&D investment exceeded CNY 43 billion, with over CNY 16 billion allocated in 2024 alone, marking a growth of over 10% [7] - Midea ranked 8th globally and 1st among private enterprises in China for the number of patent families in 2023 [7] Group 3: Business Matrix - Midea operates across various sectors including smart home, renewable energy, industrial technology, smart building technology, robotics and automation, health care, and smart logistics [3] - The company has established a dual business model focusing on both consumer (ToC) and business (ToB) markets [3] Group 4: Market Expansion - Midea's self-owned brand products achieved market share leadership in several countries, including refrigerators in Malaysia, Saudi Arabia, and Chile, and washing machines in Malaysia and Saudi Arabia [24] - The share of commercial and industrial solutions in total revenue increased from 18.5% in 2020 to 25.5% in 2024, with revenue surpassing CNY 100 billion for the first time [11] Group 5: Digital Transformation and E-commerce - In 2024, Midea's domestic e-commerce sales accounted for over 50% of total sales, maintaining the top position in the industry for 12 consecutive years during major sales events [26] - The overseas self-owned brand e-commerce sales grew by over 50% year-on-year, with significant improvements in profitability and market share [21] Group 6: Product Innovation - Midea launched the Eureka J15 Max Ultra smart vacuum cleaner, featuring advanced dual-vision recognition technology for improved cleaning efficiency [10] - The company introduced the COLMO high-end brand, which saw a retail sales growth of over 45% in 2024 [18] Group 7: Strategic Focus for 2025 - Midea will prioritize overseas OBM (Original Brand Manufacturer) expansion, deepen DTC (Direct to Consumer) model implementation, and promote ToB business transformation [8] - The company aims to enhance its global manufacturing capabilities and improve efficiency in overseas production [27]

登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 美的集团股份有限公司 关于首次实施以集中竞价交易方式回购A股股份的公告 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，没有虚假记载、误导性陈述或重大遗 漏。 美的集团股份有限公司（以下简称"公司"）于2025年4月8日召开第五届董事会第七次会议审议通过了 《关于以集中竞价方式回购公司A股股份的方案》，同意公司以集中竞价交易方式回购公司部分已发行 的A股股份，用于实施股权激励计划及/或员工持股计划，回购价格为不超过人民币100元/股，回购金额 为不超过30亿元且不低于15亿元，实施期限为自董事会审议通过回购股份方案之日起12个月内。公司于 2025年4月9日披露了《关于以集中竞价方式回购公司A股股份方案的报告书》。 一、首次回购公司股份的具体情况 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第9号一回购股份》等相关规 定，公司应当在首次回购股份事实发生的次日予以公告。现将公司首次回购股份情况公告如下： 公司于2025年4月9日通过回购专用证券账户，首次以集中竞价方式回购公司A股股份，回购股份数量为 1,720,300股，占公司 ...

证券代码：000333 证券简称：美的集团 公告编号：2025-024 美的集团股份有限公司 关于首次实施以集中竞价交易方式回购 A 股股份的公告 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，没有虚假记载、误导 性陈述或重大遗漏。 美的集团股份有限公司（以下简称"公司"）于2025年4月8日召开第五届董 事会第七次会议审议通过了《关于以集中竞价方式回购公司A股股份的方案》， 同意公司以集中竞价交易方式回购公司部分已发行的A股股份，用于实施股权激 励计划及/或员工持股计划，回购价格为不超过人民币100元/股，回购金额为不超 过30亿元且不低于15亿元，实施期限为自董事会审议通过回购股份方案之日起12 个月内。公司于2025年4月9日披露了《关于以集中竞价方式回购公司A股股份方 案的报告书》。 美的集团股份有限公司董事会 2025年4月10日 2 一、首次回购公司股份的具体情况 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9号—回购股份》等相关规定，公司应当在首次回购股份事实发生的次日予以公 告。现将公司首次回购股份情况公告如下： 公司于2025年4月9日通过回购专用证券账户 ...

美的集团（000333）公告，公司于2025年4月9日首次通过集中竞价方式回购A股股份，回购股份数量为 172.03万股，占公司总股本的0.0225%，最高成交价为70元/股，最低成交价为69.5元/股，支付的总金额 为1.2亿元(不含交易费用)。本次回购符合相关法律法规的要求，符合公司既定的回购方案。 ...

4月9日，工业4.0概念上涨3.0%，今日主力资金流入5.24亿元，概念股91只上涨，8只下跌。 主力资金净流入居前的分别为美的集团（000333）(1.49亿元)、汇川技术（300124）(1.27亿元)、恒立液 压（601100）(1.06亿元)、三一重工（600031）(9788.12万元)、海尔智家（600690）(8205.72万元)。 序号 代码 名称 最新价 涨跌幅 主力净流入 主力净占比 | 1 | 000333 | 美的集团 | 69.67 | -0.8 | 1.49亿元 | 3.71% | | --- | --- | --- | --- | --- | --- | --- | | 2 | 300124 | 汇川技术 | 62.55 | 0.24 | 1.27亿元 | 5.56% | | 3 | 601100 | 恒立液压 | 71.36 | 0.68 | 1.06亿元 | 7.7% | | 4 | 600031 | 三一重工 | 19.12 | 3.07 | 9788.12万元 | 4.8% | | 5 | 600690 | 海尔智家 | 25.04 | 1.17 | 8205.72万元 ...

2025 年 4 月 9 日 分析师：洪吉然 执业证书编号：S0930521070002 021- 52523793 hongjiran@ebscn.com 买入（维持） 当前价/目标价：67.18/86.00 元 作者 联系人：周方正 公司研究 盈利稳中有升，分红大超预期 ——美的集团（000333.SZ）2024 年年报业绩点评 股价相对走势 -10% 0% 10% 20% 30% 03/24 07/24 09/24 12/24 美的集团 沪深300 | 收益表现 | | | | | --- | --- | --- | --- | | % | 1M | 3M | 1Y | | 相对 | 3.16 | -8.13 | 5.86 | | 绝对 | -5.47 | -13.41 | 7.36 | | 资料来源：Wind | | | | 相关研报 要点 事件： 公司发布 2024 年年报。2024 年公司实现营业总收入 4091 亿元（YoY+9%），归 母净利润/扣非归母净利润 385/357 亿元，同比+14%/+8%；其中 24Q4 实现营收 887 亿元（YoY+9%），归母净利润/扣非归母净利润 68/ ...

报告显示，2024年美的系自有品牌在多个国家和多个家电品类均取得市场突破，家用空调在巴西、埃及 的市场份额连续多年位居第一，美的系冰箱在马来西亚、沙特、智利等国家取得市场份额第一，在越 南、泰国等国家提升至市场份额第二；美的系洗衣机在马来西亚和沙特的市场份额分别达到第一和第 二；美的系微波炉在日本、泰国、越南市场份额排第一。在国内市场，家用空调、干衣机、台式泛微 波、台式电烤箱、电磁炉、电暖器、电风扇、电热水壶、空气炸锅9个品类中，美的系列产品在国内线 上与线下市场份额均位列行业第一。 美的集团有关负责人表示，美的集团将继续探索新周期下的进一步高质量发展，在新能源和工业技术领 域，推动核心零部件和绿色能源领域的研发。同时，抓住机遇积极发展健康医疗、智慧物流等业务。 (记者何可) 亮眼业绩的背后离不开技术的支撑，据美的集团有关负责人介绍，围绕科技领先战略，美的集团持续优 化"三个一代"研发模式、"四级研发体系"组织机制和"三级技术委员会"运营机制，牵引研究组织在前沿 技术探索、核心技术突破和技术项目转化合理布局，推动技术战略与中长期产品规划相衔接，通过技术 与产品双轮驱动产业发展。 数据显示，美的集团近年研发投 ...