BUZZ-China's Midea gains on 2024 profit, dividend rise, share buyback

Reuters2025-03-31
BUZZ-China's Midea gains on 2024 profit, dividend rise, share buyback

** Midea Group's 000333.SZ Shenzhen shares rise 4.7% to 80.5 yuan, highest since October 8, 2024

** HK-listed stock 0300.HK surges 6.9% to HK$81.65, highest since March 19

** Set for biggest one-day pct gain since March 18

** Chinese household appliances maker's 2024 profit attributable rises 14.3% y/y; rev up 9.5% y/y

** Announces final dividend of 35 yuan ($4.83) per 10 shares vs year-ago 30 yuan

** Plans to buy back A shares worth 5 bln-10 bln yuan in 12 months

** Citi ("buy") says co's 2024 net profit growth in line with expectations

** Adds Midea expects group sales to grow with y/y expansion in net profit margin

** YTD, HK stock up 1.1%, Shenzhen shares gains 2.2%

($1 = 7.2526 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment