New stock first day | Midea Group Co., Ltd. (00300) made its debut on the market, opening in the morning with a 8.03% increase.

Midea Group Co., Ltd (00300) made its debut on the stock market, with the announcement showing a price of 54.8 Hong Kong dollars per share and a total of 566 million shares issued. The net proceeds are expected to be approximately 30.668 billion Hong Kong dollars, making it the largest IPO in the Hong Kong stock market this year. At the time of writing, the stock has risen by 8.03% to 59.2 Hong Kong dollars, with a trading volume of 690 million Hong Kong dollars. Midea Group Co., Ltd is one of China's leading home appliance manufacturers, with products covering air conditioning, refrigerators, washing machines, kitchen appliances, and other sectors. The company has been listed on the Fortune Global 500 list for nine consecutive years, with business operations in over 200 countries and regions. It has 33 research and development centers, 43 major production bases worldwide, and more than 190,000 employees. Based on sales volume and revenue projections for 2023, Midea Group Co., Ltd is the world's largest home appliance company, with a market share of 7.9% based on sales. According to Guolian, as of the first half of this year, the company had a total of 144.9 billion yuan in cash and cash equivalents/trading financial assets and other fixed income liquid assets. The significance of the H-share listing is not only in fundraising but also an extension of the "global breakthrough" strategy since 2020, providing a platform for overseas equity incentives and mergers and acquisitions, while improving overseas investment channels and capital structure. The company introduced China COSCO Shipping (Hong Kong) as a cornerstone investor, with funds raised used for research and development, supply chain, overseas channel brand building, binding strategic resources for overseas expansion, and increasing investment.