报告指，美国可能提高关税的下行风险可控。美国大选期间或之后，此类消息可能对股价动力构成压 力。但由于美的拥有多元化的全球供应链及强大对客户议价能力，中长期的基本因素应维持不变。尽管 全球宏观不确定性较高，该行仍认为美的的盈利能见度较高，预测2024至2026年的收入及盈利年均复合 增长率分别为7%及10%。 摩根士丹利发布研报称，看好美的集团（000333）(00300)双引擎策略，即家庭电器+To-B细分市场，认 为公司是一家具备增长潜力的防守型优质企业，加上估值具吸引力，首次覆盖美的H股予"增持"评级， 目标价92港元。 ...

智通财经APP获悉，摩根士丹利发布研报称，看好美的集团(00300)双引擎策略，即家庭电器+To-B细分 市场，认为公司是一家具备增长潜力的防守型优质企业，加上估值具吸引力，首次覆盖美的H股予"增 持"评级，目标价92港元。 报告指，美国可能提高关税的下行风险可控。美国大选期间或之后，此类消息可能对股价动力构成压 力。 但由于美的拥有多元化的全球供应链及强大对客户议价能力，中长期的基本因素应维持不变。尽 管全球宏观不确定性较高，该行仍认为美的的盈利能见度较高，预测2024至2026年的收入及盈利年均复 合增长率分别为7%及10%。 ...

大摩发表报告指出，看好美的双引擎策略，即家庭电器+To-B细分市场，认为公司是一家具备增长潜力 的防守型优质企业，加上估值具吸引力，首次覆盖美的H股予"增持"评级，目标价92港元。报告指，美 国可能提高关税的下行风险可控。由于美的拥有多元化的全球供应链及强大对客户议价能力，中长期的 基本因素应维持不变。尽管全球宏观不确定性较高，该行仍认为美的的盈利能见度较高，预测2024至 2026年的收入及盈利年均复合增长率分别为7%及10%。 ...

报告指，美国可能提高关税的下行风险可控。由于美的拥有多元化的全球供应链及强大对客户议价能 力，中长期的基本因素应维持不变。尽管全球宏观不确定性较高，该行仍认为美的的盈利能见度较高， 预测2024至2026年的收入及盈利年均复合增长率分别为7%及10%。 大摩发表报告指，看好美的双引擎策略，即家庭电器+To-B细分市场，认为公司是一家具备增长潜力的 防守型优质企业，加上估值具吸引力，首次覆盖美的H股予"增持"评级，目标价92港元。 ...

Core Points - The company held its 2024 Annual General Meeting to discuss various proposals, including the 2025 compensation plan for directors and senior management, and the authorization for the board to issue shares to specific targets [1][2][3] - The company reported a revenue of 892 million yuan in 2024, a 4.41% increase from the previous year, with significant growth in the optical components business [4][6] - The net profit attributable to shareholders for 2024 was 209 million yuan, a decrease of 14.25% compared to the previous year, influenced by increased R&D expenses and the absence of one-time gains from land acquisition [4][5] - The company plans to distribute a cash dividend of 8.50 yuan per 10 shares, totaling approximately 94 million yuan, marking a cash dividend ratio of 45.21%, the highest since its listing [31][32] Meeting Agenda - The meeting was scheduled for May 20, 2025, at 14:30, with a detailed agenda including reports from the board and supervisory committee, financial statements, and various proposals for shareholder approval [1][2] - The meeting included provisions for shareholder participation, allowing for both on-site and online voting [2][3] Financial Performance - The company achieved a total asset value of approximately 2.3 billion yuan by the end of 2024, reflecting a 9.85% increase from the previous year [19][21] - The total liabilities increased by 29.17% to approximately 361 million yuan, primarily due to an increase in short-term borrowings [22][24] - The company’s equity rose by 6.87% to approximately 1.94 billion yuan, with significant changes in stock repurchase obligations and minority interests [24][25] Strategic Initiatives - The company is focusing on enhancing its technological capabilities and market competitiveness through a dual-engine strategy, aiming for high-end scientific instrument production and consumer-oriented optical components [4][6] - A talent development plan is in place to foster a younger management team, with over 60% of mid-to-senior management being under 40 years old [6][15] Governance and Compliance - The board of directors and supervisory committee have adhered to legal and regulatory requirements, ensuring the legality and effectiveness of their operations [11][18] - The company has implemented a stock incentive plan to attract and retain talent, with 72,100 shares granted to 146 employees [12][13]