Understanding the Market | Midea Group's stock rises over 6% after earnings, with a 15% year-on-year increase in net profit, plans to spend 5 to 10 billion yuan to repurchase shares

Zhitong
2025.03.31 01:45
portai
I'm PortAI, I can summarize articles.

Midea Group's stock rose over 6% after earnings, reaching a 6.02% increase as of the time of writing, priced at HKD 80.95, with a trading volume of HKD 250 million. In terms of news, Midea Group released its annual performance report, stating that the company's total operating revenue for 2024 is expected to be CNY 407.1 billion, a year-on-year increase of 9.44%; the net profit attributable to the parent company is CNY 38.5 billion, a year-on-year increase of 14.29%. Earnings per share are CNY 5.44. The final dividend is CNY 35 for every 10 shares. Additionally, Midea Group announced plans to repurchase shares worth CNY 5 billion to CNY 10 billion, with 70% or more of the repurchased shares intended for cancellation. CITIC Securities pointed out that the company has achieved steady growth in domestic sales performance by leveraging national subsidy benefits, showcasing its strong foundation as a leading player. At the same time, relying on strong manufacturing capabilities and multinational cooperation, export growth remains high. Looking ahead, the global home appliance market is vast, and as a leading white goods manufacturer with top comprehensive competitive strength, Midea's market share is expected to continue to break through, driving further growth in operating performance. Meanwhile, the company's dividend payout ratio has increased to nearly 70%, and the significant repurchase is mainly for cancellation, further elevating shareholder returns

According to Zhitong Finance APP, Midea Group (00300) rose over 6% after its earnings report, reaching a rise of 6.02% as of the time of writing, priced at HKD 80.95, with a transaction volume of HKD 250 million.

In terms of news, Midea Group released its annual performance report, with total operating revenue of CNY 407.1 billion in 2024, a year-on-year increase of 9.44%; the net profit attributable to the parent company was CNY 38.5 billion, a year-on-year increase of 14.29%. Earnings per share were CNY 5.44. The final dividend is HKD 35 per 10 shares. In addition, Midea Group announced a share repurchase plan of CNY 5 billion to CNY 10 billion, with 70% or more of the repurchased shares intended for cancellation.

CITIC Construction Investment pointed out that the company achieved steady growth in domestic sales performance by leveraging national subsidy benefits, demonstrating the deep foundation of a leading enterprise. At the same time, strong manufacturing capabilities and multinational cooperation have maintained high export growth. Looking ahead, the global home appliance market is vast, and as a leading white goods company ranked among the top in comprehensive competitive strength, Midea's market share is expected to continue to break through, driving further growth in operating performance. Additionally, the company's dividend payout ratio has increased to nearly 70%, and the substantial repurchase is mainly for cancellation, further enhancing shareholder returns

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.