HK Stock Market Move | Midea Group Co., Ltd. (00300) rose more than 6% after its performance announcement, with a year-on-year increase in net profit of 15%. It plans to repurchase shares worth 5 to 10 billion yuan.

Midea Group Co., Ltd (00300) rose more than 6% after the performance announcement, as of the time of writing, it had increased by 6.02% to HK$80.95, with a turnover of HK$2.5 billion. On the news front, Midea Group Co., Ltd announced its annual performance, with the company's total operating income in 2024 reaching 407.1 billion yuan, a year-on-year increase of 9.44%; the net profit attributable to the parent company was 38.5 billion yuan, a year-on-year increase of 14.29%. Earnings per share were 5.44 yuan, and a dividend of 35 yuan per 10 shares would be distributed. In addition, Midea Group Co., Ltd announced plans to repurchase shares totaling 5 to 10 billion yuan, with over 70% of repurchased shares to be used for cancellation. China Securities Co., Ltd pointed out that the company relied on government subsidies to achieve steady growth in domestic sales performance, demonstrating a strong foundation as a leading company. At the same time, with its strong manufacturing capabilities and international cooperation background, the company maintained a high export growth rate. Looking ahead, the global household appliance market is vast, and as a leading company in the white goods sector with comprehensive competitive capabilities, Midea's market share is expected to continue to increase, driving further growth in operating performance. Meanwhile, the company's dividend payout ratio has increased to nearly 70%, and the large-scale share buyback is mainly for cancellation, pushing shareholder returns to new heights.