A：Company Basic Information
Full Name: Midea Group Co., Ltd.
Stock Code: 000333.SZ
Stock Abbreviation: Midea Group
Region: Foshan City, Guangdong Province
Industry: Home Appliances
Establishment Date: April 7, 2000
Founder: He Xiangjian
Company Website: http://www.midea.com
Registered Address: No. 6 Midea Avenue, Beijiao Town, Shunde District, Foshan City, Guangdong Province
Total Share Capital: As of September 30, 2024, the total share capital is 6,921,019,717 shares
Business Scope: Household appliances, heating, ventilation, and air conditioning (HVAC), robotics and automation systems, intelligent supply chain, chips, etc.
Company Profile: Midea Group is a global technology group with businesses covering consumer appliances, HVAC, robotics and automation systems, intelligent supply chain, and other fields. The company is committed to creating a better life and a sustainable future with the vision of "Technology for the Best Life."
B：Value Investment Analysis
Key Financial Indicators:
Operating Income: For the first half of 2024, the operating income reached 152.304 billion yuan, a year-on-year increase of 9.7%.
Net Profit: For the first half of 2024, the net profit attributable to the parent company was 15.069 billion yuan, a year-on-year increase of 13.8%.
Gross Margin: For the first half of 2024, the gross margin was 23.8%, a year-on-year decrease of 0.9 percentage points.
ROE: For the first half of 2024, the ROE was 13.3%.
Company Investment Value:
As a leader in the global home appliance industry, Midea Group has a strong brand influence and market competitiveness. The company's continuous innovation and R&D investment in fields such as smart homes, industrial internet, and robotics provide a solid foundation for its long-term growth. In addition, the company's global layout and diversified business structure also provide flexibility to cope with market changes and risks.
Company Growth Potential:
The growth potential of Midea Group mainly comes from the following aspects: First, with the global consumption upgrade and the trend of intelligence, the company's main product lines are expected to achieve sales growth; second, the company's layout in emerging fields such as new energy vehicles and industrial automation is expected to bring new growth points; finally, the company's continuous expansion in overseas markets will further enhance its global competitiveness.
Industry Support Policies:
Midea Group benefits from the national support policies for the home appliance industry, including policy support for technological innovation, intelligent upgrading, and green manufacturing. These policies help reduce the company's R&D costs, improve the competitiveness of its products, and also provide policy guarantees for the company's sustainable development.
International Policy Risks:
The current international situation is complex and changeable. Trade frictions and technology blockades may have certain impacts on the company's supply chain and market expansion. However, Midea Group actively responds to international policy risks by strengthening independent research and development and cooperation, striving to ensure the stable development of the company.
A.Top's Investment Review:
As a leader in the global home appliance industry, Midea Group demonstrates good investment value and growth potential with its technological advantages and brand influence in fields such as smart homes, industrial internet, and robotics. With the advancement of global consumption upgrade and intelligence trends, the company is expected to achieve steady growth in performance. At the same time, the company's active layout in emerging fields and its global strategy also provide a solid foundation for its long-term development.