Midea Group(SZ:000333) 券商中国·2025-03-30 02:15Core Viewpoint - Midea Group announced a new share repurchase plan with a maximum amount of 10 billion yuan, reflecting confidence in its future development and commitment to enhancing shareholder returns [2][3]. Summary by Sections Share Repurchase Plan - Midea Group's board approved a share repurchase plan for 2024, with a budget of 5 billion to 10 billion yuan, at a price not exceeding 100 yuan per share [2]. - The repurchased shares will primarily be used for cancellation and reducing registered capital, with over 70% allocated for this purpose [2]. - The funding for the repurchase will come from the company's own funds and a special loan from China Bank [2]. Market Context and Performance - Midea Group's repurchase plan is the highest in terms of amount since July 2022 in the A-share market [2]. - The company has previously executed a 15 billion yuan repurchase plan in May 2021, which was completed in September of the same year [2]. - Among over 130 companies with a market capitalization exceeding 100 billion yuan, only 17 have implemented share repurchases consistently from 2020 to 2024, with Midea Group leading with nearly 20 billion yuan in total repurchases [3][4]. Stock Performance - From 2020 to March 28, 2025, the average stock price increase for the 17 companies that consistently repurchased shares was nearly 60%, with Midea Group's stock rising over 55% during this period [3]. - Midea Group's stock saw a significant increase of over 40% in 2024 alone [3]. QFII Holdings - As of March 28, 2024, 69 stocks among those that disclosed annual reports had QFII (Qualified Foreign Institutional Investor) holdings, indicating increased foreign investment interest [5]. - The sectors with the largest increases in QFII holdings included basic chemicals, non-ferrous metals, and semiconductors, while sectors like pharmaceuticals and public utilities saw declines [5]. - Notable companies with significant QFII holdings include Zijin Mining, Satellite Chemical, and North New Building Materials, with Satellite Chemical's QFII holdings increasing to 1.125 billion yuan [6]. Long-term QFII Holdings - Among the 69 stocks, 14 have maintained stable QFII holdings since 2022, with some like Satellite Chemical and North New Building Materials having held QFII investments for over five years [9]. - The average stock price increase for these 14 companies exceeded 20%, outperforming the Shanghai Composite Index during the same period [9].