Midea Group Shares Surge Over 4% in Session, CLSA Keeps Outperform Rating

Deep News06-29

Shares of MIDEA GROUP (00300) rose more than 4% during the trading session. As of the time of writing, the stock was up 2.99%, trading at HK$82.75 with a turnover of HK$497 million.

Recently, CLSA published a research report maintaining its HK$99 target price and Outperform rating for Midea Group's H-shares. The report cited Midea's strategy presentation at a London conference, indicating that competition in the domestic market has eased due to a reduction in the intensity of trade-in subsidies and rising commodity prices. The growth rate of Midea's own-brand products is outpacing that of its OEM products. There is clear synergy between its home appliance business and its industrial and building businesses, while its new energy and medical imaging businesses aim for diversification. The AI data center and humanoid robotics businesses have potential, though visibility is currently limited.

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