HK Stock Market Move | Midea Group Co., Ltd(00300) up by over 9% again, exceeding the IPO price by over 18%. The company stated that the Hong Kong IPO will help accelerate the globalization process.

Midea Group Co., Ltd (00300) rose more than 9% again, reaching a high of 64.8 Hong Kong dollars, surpassing the IPO price of 54.8 Hong Kong dollars by over 18%. As of the time of writing, it has risen by 9.64%, to 64.8 Hong Kong dollars, with a trading volume of 1.869 billion Hong Kong dollars. On the news front, Midea Group Co., Ltd was listed on September 17, with an announcement stating that each share was priced at 54.8 Hong Kong dollars, and a total of 566 million shares were issued, raising a net amount of approximately 30.668 billion Hong Kong dollars. Chairman of Midea Group Co., Ltd, Fang Hongbo, stated at the listing ceremony that entering the Hong Kong capital market will help accelerate the globalization process and the company will continue to implement its four major strategies of technology leadership, customer orientation, digital drive, and global breakthrough with greater determination and courage in the future, continuously strengthen Midea's position as a global technology company, and achieve long-term and sustainable growth to create more value for global users and shareholders. Guolian believes that the significance of the company's H-share listing lies not only in fundraising but also in extending the "global breakthrough" strategy since 2020, providing a platform for overseas equity incentives and M&A operations, and improving overseas investment channels and capital structure; with China COSCO Shipping (Hong Kong) as a cornerstone investor, the funds raised will be used for research and development/supply chain/overseas channel brand building, binding strategic resources for going global, and increasing investment.