HK Stock Market Move | Midea Group Co., Ltd (00300) has risen by nearly 8%, exceeding the IPO price by over 25%. The company's global expansion is accelerating.

Midea Group Co., Ltd (00300) rose nearly 8% to a high of 6.91 Hong Kong dollars, exceeding the IPO price of 54.8 Hong Kong dollars by over 25%. As of the time of writing, it has risen by 7.73% to 68.95 Hong Kong dollars, with a turnover of 5.12 billion Hong Kong dollars. On the news front, on September 17, Midea Group Co., Ltd was listed on the stock exchange, raising over 30 billion Hong Kong dollars. The funds raised this time are intended to be used for global research and development investment, upgrading intelligent manufacturing systems and supply chain management, improving global distribution channels and sales networks, and increasing overseas sales of their own brands. According to a report from Zhongtai Securities International, based on the amount raised, Midea Group Co., Ltd is the largest IPO project in the Hong Kong stock market in the past 3 years. Guosheng Securities pointed out that Midea Group Co., Ltd is currently in an important stage of entering globalization and diversification. This H-share listing not only provides the company with a new platform for overseas equity incentives and mergers and acquisitions, but also optimizes investment channels and structures, helping to attract high-quality capital from around the world to support the company's further advancement of its globalization and diversification development strategy.