证券代码：000333 证券简称：美的集团 公告编号：2025-055 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3月28日、5月30日分 别召开第五届董事会第六次会议、2024年度股东大会，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 分已在境内发行的A股股票，用于依法注销减少注册资本及实施股权激励计划及 /或员工持股计划。公司于2025年6月17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—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。现将公司首次实施本回购方案的情况公告如下： 公司于2025年6月17日通过回购专用证券账户，首次以集中竞价方式实施本 回购方案，回购股份数量为2,078,100股，占公司目前总股本的0.0271%， ...

Group 1 - The report by Goldman Sachs focuses on the strong return of Chinese private enterprises, the increasing size of large private companies, and the rise of the "Prominent 10" [2][4] - The "Prominent 10" includes Tencent, Alibaba, Xiaomi, BYD, Meituan, Netease, Midea, Hengrui, Trip.com, and Anta, which have seen significant stock price increases averaging 54% since the end of 2022 and 24% year-to-date, outperforming the MSCI China Index by 33 percentage points and 8 percentage points respectively [4][5] - The total market capitalization of the "Prominent 10" reaches $1.6 trillion, accounting for 10% of the total market value of A-shares, H-shares, and all US-listed Chinese stocks, with a weight of 42% in the MSCI China Index [5] Group 2 - Recent signals indicate a shift in the trend of Chinese private enterprises, with policymakers recognizing the importance of the private economy, including the convening of a meeting with private entrepreneurs and the issuance of the "Private Economy Promotion Law" [6] - The profitability of private enterprises has improved, with profits and return on equity (ROE) rising by 22% and 1.2 percentage points respectively since the low point in 2022 [6] - Despite the increasing competitiveness and market share of Chinese companies, their gross margins remain lower than those of major companies in developed markets, indicating a need for further concentration in the industry [7] Group 3 - If the profit margins of Chinese private enterprises continue to grow, there is potential for increased international investment, with many global investors expressing willingness to reallocate a portion of their assets to China [8] - Currently, 86% of global mutual funds are underweight in China, with a potential inflow of up to $44 billion if these funds were to allocate equally to Chinese stocks [8]

Group 1 - Recent trends in A-share listed companies show a surge in share buybacks, with some companies announcing buybacks in the range of billions, while others are executing buybacks during the delisting preparation period [1] - Midea Group announced a plan to repurchase shares with a total amount not exceeding 10 billion yuan and not less than 5 billion yuan, funded by its own resources and special loans [2] - The purpose of Midea's buyback is to enhance investor confidence, improve shareholder returns, and optimize corporate governance structures [2] Group 2 - Dayun Technology's chairman proposed a buyback plan with a total amount between 10 million yuan and 20 million yuan, funded by the company's own resources [3] - Godewei executed its first buyback of approximately 184,300 shares at a total amount of about 748,340 yuan, with a maximum buyback price of 40.8 yuan per share [4] - Several companies have announced plans to buy back shares during the delisting preparation period, drawing market attention [4] Group 3 - Delisted Haiyue disclosed a buyback plan with a total amount between 30 million yuan and 50 million yuan, with a maximum buyback price of 2 yuan per share [5] - Delisted Longyu announced a buyback plan with an estimated amount between 50 million yuan and 100 million yuan, having already repurchased 19.9 million shares, accounting for 5.29% of its total share capital [5][6]

Core Viewpoint - The market for mosquito lamps is experiencing a surge in demand due to the summer season, but consumers face challenges in selecting effective and cost-efficient products due to the wide variety of brands and claims [1][4]. Group 1: Market Analysis - A recent comparative test conducted by the Ningbo Consumer Rights Protection Committee evaluated 15 mosquito lamp samples available in the market [3][4]. - The test revealed that only 3 samples met the significant efficacy standard, while 12 samples had a capture rate below the threshold, with over half of the samples showing an average capture rate of less than 20% [6][8]. Group 2: Product Performance - The comparative test included brands such as Midea, Zhigao, and Mosquito Doctor, with prices ranging from 120 yuan to 1318 yuan [4][6]. - The results indicated that brands like Nuoyin, Mosquito Doctor, and Midea had capture rates below 70%, with some samples, including Mosquito Doctor and Antxi, showing capture rates below 10% [6][7]. Group 3: Consumer Guidance - Consumers are advised to be cautious of exaggerated claims such as "99% mosquito elimination" and to choose products from reputable brands with established market reputations [8]. - The test was conducted under controlled conditions, which may not reflect real-world performance due to environmental factors affecting the efficacy of mosquito lamps [8].

Core Insights - Goldman Sachs' chief China equity strategist Liu Jinjun released a report titled "The Return of Chinese Private Enterprises: The Tide Has Turned," indicating an improvement in the mid-term investment outlook for Chinese private enterprises driven by various macro, policy, and micro factors [1] - The report highlights a strong recovery in Chinese private enterprises, with profits and ROE rebounding by 22% and 1.2 percentage points, respectively, from their 2022 lows, and further recovery expected as profit margins normalize during industry consolidation [1] Group 1: Investment Opportunities - Goldman Sachs identified ten major Chinese private companies, referred to as the "Ten Giants," which include Tencent, Alibaba, Xiaomi, BYD, Meituan, NetEase, Midea, Hansoh Pharmaceutical, Ctrip, and Anta. These companies are expected to expand their dominance in the Chinese stock market, similar to the "Seven Giants" in the U.S. stock market [1][2] - The "Ten Giants" have shown significant advantages in market capitalization, trading volume, profit growth potential, and valuation, making them attractive to investors. They span high-growth sectors such as technology, consumer goods, and automotive, representing China's "new momentum" in AI, self-innovation, globalization, service, and new consumption [2] Group 2: Market Trends and Performance - Since the end of 2022, the stocks of these ten companies have risen by an average of 54%, outperforming the MSCI China Index by 33 percentage points and showing a 24% increase this year, surpassing the index by 8 percentage points [2] - Goldman Sachs estimates that 86% of global mutual funds are underweight in Chinese stocks, suggesting a potential inflow of up to $44 billion if these funds adopt equal-weight exposure to Chinese equities, with large private enterprises benefiting the most due to their size, liquidity, and index weight [3] Group 3: Broader Market Context - The report notes a significant increase in global funds returning to China and the ongoing growth of domestic "patient" and passive capital, which is expected to disproportionately benefit index-weighted stocks [3] - Recent trends indicate that Hong Kong stocks are outperforming A-shares, driven by fundamental recovery and inflows from southbound capital, with technology companies in Hong Kong showing superior performance in application areas [3]

Core Viewpoint - Midea Group's energy brand, Midea Energy, debuted at the 18th International Solar Photovoltaic and Smart Energy & Storage and Battery Technology and Equipment Conference, showcasing its energy strategy driven by "Storage + Heat Pump + AI" [1][2] Group 1: Energy Solutions - Midea Energy provides comprehensive energy solutions across various sectors, including commercial, residential, large-scale storage, green buildings, and intelligent manufacturing through subsidiaries like Beijing Hekang New Energy and Shenzhen Kelu Electronics [1] - Kelu Electronics presented a range of products at the conference, including the Aqua-C series all-liquid cooling storage system and integrated energy management solutions [1] - Hekang New Energy focuses on new energy solutions, offering virtual power plants and energy trading platforms, along with residential energy solutions that create smart microgrids for homes [1][2] Group 2: AI and Technology Integration - Midea Energy introduced the next-generation AI energy management system and home energy stations, optimizing energy management through advanced algorithms and dynamic pricing [2] - The company has developed core technologies in the storage sector, including AI battery management and thermal management technologies, aiming for a full-link approach to energy supply, storage, and usage [2] - KUKA showcased automation solutions for the new energy sector, with a market share exceeding 25% for its heavy-duty robots [2] Group 3: Strategic Vision - Midea Group's Vice President and CTO, Wei Chang, emphasized the importance of integrating next-generation storage, heat pump solutions, and advanced AI technologies to drive the energy sector's growth [2][3] - The energy sector is positioned as a pillar industry for Midea Group, with ongoing investments in research and development to enhance sustainable growth [3] - The current energy system is viewed as a complex network requiring real-time optimization, with Midea Energy aiming to lead an "energy efficiency revolution" through its innovative technologies [3]

Core Viewpoint - The A-share market is witnessing an increase in mid-term dividend plans from various companies, reflecting improved operational conditions and a commitment to returning value to shareholders [2][4][6]. Company Dividend Plans - Companies such as Zhangjiang Hi-Tech, High-tech Development, and Upwind New Materials have announced plans to increase mid-term cash dividends in 2025, indicating a trend towards more frequent and higher dividend payouts [2][5]. - Over 200 listed companies have released announcements regarding their mid-term dividend plans for 2025, including conditions and maximum amounts for dividends [2][4]. Regulatory Environment - The new "National Nine Articles" policy emphasizes the importance of cash dividends and aims to enhance the stability and predictability of dividend payouts, encouraging companies to adopt more frequent dividend distributions [3][4]. - The China Securities Regulatory Commission has revised guidelines to increase the weight of cash dividends in company evaluations, promoting a culture of regular cash returns to investors [3][6]. Market Trends - In 2024, 985 listed companies in the Shanghai and Shenzhen markets announced mid-term dividends totaling 699.47 billion yuan, marking significant increases in both the number of companies and the total dividend amount compared to 2023 [4]. - The dividend yield for the CSI 300 index reached a historic high of 3.59%, indicating a growing trend of companies prioritizing shareholder returns [4]. High Dividend Companies - A total of 11 companies have announced cash dividends exceeding 10 billion yuan, with notable examples including Midea Group and CATL, which have substantial dividend payouts relative to their net profits [7][8]. - Companies maintaining high dividend rates, such as Oriental Yuhong and others with over 200% payout ratios, are increasingly viewed as attractive investment opportunities [8][9]. Investment Implications - Analysts suggest that companies with a consistent history of high dividends and returns are becoming more appealing to investors, reflecting a shift in focus from growth to quality and shareholder value [9].

Group 1 - Goldman Sachs introduced the concept of "Chinese Prominent 10," identifying ten leading private enterprises in China, including Tencent, Alibaba, Xiaomi, BYD, Meituan, NetEase, Midea, Hansoh Pharmaceutical, Ctrip, and Anta [3][6] - The "Chinese Prominent 10" spans multiple sectors such as interactive media, retail, technology hardware, automotive, dining, entertainment, consumer goods, pharmaceuticals, hospitality, and textiles, contrasting with the tech-focused "Magnificent 7" in the US [6] - Goldman Sachs forecasts a compound annual growth rate (CAGR) of 13% for these companies' earnings over the next two years, with a median of 12%, and notes that their average price-to-earnings (P/E) ratio is 16 times, making them more attractive compared to the US counterparts' P/E of 28.5 times [6] Group 2 - Notable companies such as JD.com, Baidu, CATL, and SMIC were excluded from the "Chinese Prominent 10," despite JD.com ranking first in revenue among private enterprises in 2024 [3][6][8] - JD.com operates primarily on a direct sales model, differing from Alibaba's e-commerce approach, and has recently entered the food delivery market, showing strong growth [6][8] - NetEase's revenue for 2024 is projected at 105.3 billion yuan, with a year-on-year growth of 1.74%, while its music service revenue is significantly lower than Tencent's music revenue [8][9] Group 3 - The report emphasizes that investing in private enterprises does not exclude state-owned enterprises, as Goldman Sachs still favors "high-quality" state-owned enterprises and shareholder return combinations [10]

Core Viewpoint - Midea Group has announced a share buyback plan, reflecting confidence in its future development and commitment to enhancing shareholder returns and corporate governance [1][3]. Group 1: Share Buyback Details - Midea Group plans to repurchase A-shares worth up to 10 billion yuan (approximately 1.3% of total share capital) and not less than 5 billion yuan (approximately 0.65% of total share capital) [1]. - The buyback will be funded by the company's own funds and/or special loans, with a duration of 12 months from the approval date by the shareholders' meeting [1]. - This marks Midea's third buyback announcement in 2023, following previous plans of 5 to 10 billion yuan and 1.5 to 3 billion yuan [3]. Group 2: Historical Context of Buybacks - Since 2021, Midea Group has been active in share buybacks, with the largest plan in 2021 amounting to 14 billion yuan for 50 to 100 million shares, completed in under two months [3]. - Cumulatively, Midea has announced buyback plans totaling up to 37 billion yuan since 2021 [3]. Group 3: Dividend Distribution - For the fiscal year 2024, Midea Group plans to distribute a cash dividend of 35 yuan per 10 shares, totaling 26.712 billion yuan, which represents 69.31% of the net profit attributable to shareholders [5]. - Since its listing in 2013, Midea has distributed cash dividends 12 times, amounting to a total of 134.194 billion yuan [5][6].

沪指6月17日下跌0.04%，申万所属行业中，今日上涨的有14个，涨幅居前的行业为煤炭、公用事业， 涨幅分别为0.89%、0.82%。家用电器行业今日上涨0.48%。跌幅居前的行业为医药生物、美容护理，跌 幅分别为1.44%、1.24%。 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 000333 | 美的集团 | 1.12 | 0.47 | 29092.48 | | 603215 | 比依股份 | 6.13 | 17.67 | 9597.08 | | 600690 | 海尔智家 | 2.01 | 0.68 | 8985.90 | | 603579 | 荣泰健康 | 10.01 | 6.24 | 4534.79 | | 300342 | 天银机电 | 2.99 | 8.92 | 4486.90 | | 002402 | 和而泰 | 1.63 | 4.33 | 3637.89 | | 300403 | 汉宇集团 | 1.06 | 5.44 | 1730.93 | | 300911 | 亿田智能 | ...