Ge Long Hui A P P·2026-01-19 07:26Group 1 - The core viewpoint of the report highlights Midea Group's commitment to shareholder returns through multiple share buybacks in 2025 and 2026, indicating a strong focus on enhancing shareholder value [1] - In 2026, Midea Group repurchased approximately 2 million yuan worth of 2.613 million A-shares at an average price of 76.5 yuan per share, representing about 0.038% of the total shares [1] - The total amount for Midea's two share buybacks in 2025 ranged from 6.5 billion to 13 billion yuan, with 70% of the 5-10 billion yuan allocated for cancellation and reduction of registered capital, and 1.5-3 billion yuan for employee stock ownership plans [1] Group 2 - Midea Group's operational performance remains stable, and short-term disruptions do not alter its long-term value, suggesting potential for further market capitalization expansion driven by cash flow [1] - The company is expected to leverage global resources for diversified growth opportunities, maintaining a target price of 93.4 yuan based on a DCF valuation method, corresponding to a 15x PE for 2026 [1] - The report maintains a "strong buy" rating for Midea Group, reflecting confidence in its financial health and growth prospects [1]