Core Viewpoint - The Freedom Cash Flow ETF CSI All Share (561080) experienced a decline of 1.70% as of the midday close on November 21, with a trading volume of 4.1672 million yuan [1] Group 1: ETF Performance - The Freedom Cash Flow ETF CSI All Share (561080) closed at 1.211 yuan [1] - The fund has a performance benchmark of the CSI All Share Free Cash Flow Index return rate [1] - Since its establishment on April 23, 2025, the fund has achieved a return of 23.00%, with a one-month return of 4.57% [1] Group 2: Major Holdings - Major stocks in the Freedom Cash Flow ETF include: - China National Offshore Oil Corporation (CNOOC) down 1.44% - Midea Group down 0.05% - Gree Electric Appliances down 0.74% - Wuliangye Yibin down 0.36% - China COSCO Shipping down 0.46% - Luoyang Molybdenum down 3.48% - TCL Technology down 1.92% - China Aluminum down 4.08% - SF Express down 1.34% - Shaanxi Coal and Chemical Industry down 0.43% [1]

对此，美的方面今日回应新浪科技称："美的一直秉承用户体验第一的原则，并无强制售后服务商排他 性合作的行为，感谢关注"。（文猛） 新浪科技讯 11月21日上午消息，据报道，美的近期不再允许售后服务商同时接小米或格力的业务合 作，该政策由中国区经各区域负责人单独向合作商传达，涉及小米、格力等其他品牌的空调售后及安装 维修。 ...

以下文章来源于界面新闻 ，作者李家琦 界面新闻 . 界面新闻是上海报业集团主管主办，中国具有影响力的原创财经新媒体，只服务于独立思考的人群 11月21日，界面新闻获悉，美的近期不再允许售后服务商同时接小米或格力的业务合作，该政策由中国区经各区域负责人单独向合作商传 达， 涉及小米、格力等其他品牌的空调售后及安装维修。 对此消息，美的公关回应称不清楚此事。 多位小米经销商对界面新闻确认了此事。经销商们表示，空调售后主要是安装，小米目前有送装一体和先送后装两种选择，让售后服务 商"二选一" 会减少小米对线下服务商的绑定， 仍有第三方合作商可以选择，只要不乱收费不会对空调服务有太大影响。 一位美的中国区员工告诉界面新闻，此次政策主要针对的是小米，今年小米空调的大卖让美的感受到了威胁，10月份下发了该通知。 区别于汽车、3C行业，美的格力等传统家电厂商在市场份额上有接近"垄断性"优势，这也就意味着美的、格力对售后商有足够的影响力， 目前其所在区域的头部几家合作商都已经结束了和小米的合作。 在该员工看来，对于家电售后体系尚不成熟的小米而言，此举是"打在了七寸上"，小米大家电当下的关键是如何在快速爆量之前搭建好专业 的售 ...

Group 1 - The competitiveness of A-share listed companies in international markets has significantly improved, with 3,667 companies disclosing overseas business income, accounting for 68% of total A-share companies [1] - Total overseas revenue reached 9.52 trillion yuan, a 56.58% increase compared to 2020, with manufacturing companies contributing 6.39 trillion yuan, marking a 75.42% growth [1] - New industries such as new energy vehicles, lithium batteries, and photovoltaics are emerging as new growth drivers for foreign trade, with companies like CATL and BYD leading the way [1] Group 2 - Improving the quality of listed companies is crucial for the healthy development of the capital market and the overall high-quality development of the national economy [2] - Five key areas for enhancing the quality of listed companies include strengthening governance foundations, focusing on core responsibilities, optimizing resource allocation, maintaining stable operations, and reinforcing risk prevention measures [2]

以下文章来源于36氪企业舆情报告 ，作者36氪 36氪企业舆情报告 . 舆情大数据，帮你看清市场全貌、看懂涨跌原因。 美的集团公司日报 来源｜ 36氪企业全情报（ID：EV36kr） 美的集团11月20 日放量上涨0.70% 77.94 +0.54 +0.70% 昨日收盘价77.40；当日收盘价：77.94 当日开盘价77.50；交易量26.19万手 ｜渠道传播分析 该事件全网传播篇次为 878 条 ，事件主要传播渠道为 微信平台 ，传播篇次 170条 ，占比 19.36% 。 换手率0.38%；放量幅度0.22% 3日涨幅 -0.61% ；5日涨幅 -2.09% 成交额：20.50亿；总市值：5989.74亿 较过去一年的平均收盘价 +0.06% ；较过去一年的日均交易量 -0.99% "美的在泰国布局全球化" 舆情分析 美的在泰国布局全球化，美的国际供应链携手普洛斯旗下普顺投、中远海控下属公司金领东南亚在泰国签订战略合作意向，共同建设绿色智慧供应链泰国 交付中心。美的已在泰国持续深化供应链和渠道链布局，成立亚太新总部，泰国工厂成为首个海外空调灯塔工厂，下半年将启动暖通家电部件的泰国制造 基地建设。目前，美 ...

Group 1 - The company Midea Group announced a share buyback plan, intending to repurchase 1.276 million A-shares at a total cost of approximately 99.9995 million RMB [1] - The buyback price per share is set between 77.08 and 78.88 RMB [1]

Group 1 - The company, Midea Group, announced a share buyback plan to repurchase 1 billion RMB worth of A-shares, totaling 1.276 million shares [1] - The buyback price is set between 77.08 and 78.88 RMB per share [1]

Core Viewpoint - Midea Group announced a share buyback plan, intending to repurchase 1.276 million A-shares at a total cost of approximately 99.9995 million RMB, with individual share prices ranging from 77.08 to 78.88 RMB [1] Group 1 - The company plans to execute the buyback on November 20, 2025 [1] - The total number of shares to be repurchased is 1.276 million [1] - The price range for the repurchase is set between 77.08 and 78.88 RMB per share [1]

Market Overview - The white goods sector increased by 0.66% on November 20, with Hisense Home Appliances leading the gains [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Individual Stock Performance - Hisense Home Appliances (000921) closed at 26.25, up 1.35% with a trading volume of 73,200 shares and a turnover of 191 million yuan [1] - Haier Smart Home (600690) closed at 26.79, up 1.02% with a trading volume of 286,200 shares and a turnover of 769 million yuan [1] - Midea Group (000333) closed at 77.94, up 0.70% with a trading volume of 261,900 shares and a turnover of 2.05 billion yuan [1] - Gree Electric Appliances (000651) closed at 40.35, up 0.47% with a trading volume of 332,900 shares and a turnover of 1.35 billion yuan [1] - Whirlpool (600983) closed at 10.14, up 0.40% with a trading volume of 15,800 shares and a turnover of 1.6 million yuan [1] - Other notable performances include Changhong Meiling (000521) at 6.89, up 0.15%, and TCL Smart Home (002668) at 10.61, down 1.67% [1] Capital Flow Analysis - The white goods sector saw a net inflow of 22.28 million yuan from institutional investors and 33.49 million yuan from retail investors, while retail investors had a net outflow of 55.77 million yuan [1] - Midea Group experienced a net inflow of 47.03 million yuan from institutional investors, while retail investors had a net outflow of 4.07 million yuan [2] - Hisense Home Appliances had a net inflow of 17.62 million yuan from institutional investors, with a significant net outflow from retail investors of 15.98 million yuan [2] - Gree Electric Appliances and TCL Smart Home both faced net outflows from institutional investors, indicating a shift in investor sentiment [2]

智通财经APP获悉，国联民生证券发布研报称，10月空调内销出货同比-21%，2024年同期为+24%，剔 除基数看，10月内销较2023/2019年同期CAGR分别-1%/持平，环比8-9月变化不大，需求内生趋势平稳 为主；展望后续，2024年11-12月空调内销同比+24%，基数仍高，短期或仍偏弱。外销方面，剔除基 数，10月空调外销出货2年CAGR+12%，规模仍在同期次高，趋势稳健；考虑2024年11-12月外销出货同 比+47%，据产业在线，11/12月空调外销排产分别-14%/-2%，短期或仍偏弱。 外销筑底，关税压力减轻 10月空调外销出货量同比-19%，仍在筑底。剔除基数，10月空调外销出货2年CAGR+12%，规模仍在同 期次高，趋势稳健；考虑2024年11-12月外销出货同比+47%，据产业在线，11/12月空调外销排产分 别-14%/-2%，短期或仍偏弱。而10月底中美谈判取得积极进展，关税压力减轻，美国降息开启，外销 预计在消化基数及前期出货节奏影响后，向中个位数历史中枢收敛；龙头外销接单有望持续稳健， OBM势能强劲，推进海外转产，经营韧性强于行业，修复阶段有望好于线性预期。 投资建议 ...