Midea Group(SZ:000333) 投中网·2025-10-02 07:03Core Viewpoint - Anke Intelligent Supply Chain Co., Ltd. (Anke Zhiliang), a subsidiary of Midea Group, is preparing for an IPO on the Hong Kong Stock Exchange, highlighting the strength of its parent company and the growth potential in the logistics sector [2][6]. Group 1: Company Overview - Anke Zhiliang, originally Midea Group's logistics division, was established in 2000 and rebranded in 2017 to focus on smart logistics, becoming an independent supplier of integrated supply chain solutions [4]. - The company has developed a unique "1+3" supply chain model, providing end-to-end logistics services that help businesses optimize their supply chains and reduce costs [4]. - As of June 2025, Anke Zhiliang serves over 9,000 enterprise clients across various industries, including home appliances and automotive, with a management warehouse area exceeding 11 million square meters [4]. Group 2: Financial Performance - Anke Zhiliang has maintained double-digit growth over the past three years, with revenues of 141.73 billion, 162.24 billion, and 186.63 billion from 2022 to 2024, reflecting a compound annual growth rate (CAGR) of 14.8% [5]. - The net profit for the same period showed a CAGR of 33%, with figures of 2.15 billion, 2.88 billion, and 3.8 billion [5]. - In the first half of 2025, the company achieved a revenue of 108.85 billion, a year-on-year increase of 20.23%, and a net profit of 2.48 billion, up 21.75% [5]. Group 3: IPO Journey - Anke Zhiliang has attempted to go public multiple times, with its first attempt in 2009 being rejected due to high related-party transactions [8]. - After a slow progress post-rebranding, the company received approval from Midea Group's board in July 2023 to prepare for an IPO on the Shenzhen Stock Exchange, but later shifted its focus to the Hong Kong market [9]. - Prior to its IPO application, Anke Zhiliang secured 1.9 billion in Pre-IPO financing from various investors, including Hisense Group and Zhongding Capital [9]. Group 4: Parent Company Insights - Midea Group reported a total revenue of 2,523 billion in the first half of 2025, a 15.7% increase year-on-year, with a net profit of 260 billion, up 25% [11]. - The group has a significant investment portfolio, having established multiple investment platforms and made numerous investments across various sectors, including smart appliances and medical devices [11]. - If Anke Zhiliang successfully goes public, it will mark the 10th IPO for the family of Midea's founder, He Xiangjian, further expanding their capital influence and wealth [13].