HK Stock Market Move | Midea Group Co., Ltd (00300) rises over 8%, continuing to set new highs, with a cumulative increase of nearly 40% compared to the IPO price, deepening strategic cooperation with Home Depot.

Midea Group Co., Ltd (00300) rose by more than 8%, hitting a new high in the market with a high of 75.8 Hong Kong dollars, up more than 38% from the IPO price of 54.8 Hong Kong dollars. As of the drafting of this report, it has risen by 7.98% to 75.75 Hong Kong dollars, with a transaction volume of 1.21 billion Hong Kong dollars. In terms of news, according to Midea Group Co., Ltd, recently, Vice President and President of the Smart Home Business Group Wang Jianguo of Midea Group Co., Ltd met with Senior Executive Vice President Ann-Marie Campbell and her team from Home Depot at a factory in Thailand. The two sides had in-depth discussions on smart manufacturing, sustainable development, and strategic cooperation in the US, Canada, and Mexico markets, and reached consensus on professional channels and online business multi-category cooperation. A Citigroup research report pointed out that Midea Group Co., Ltd has been included in the list of short-term upward trends in the next 90 days, and it is expected that the company will benefit more from the "trade-in" policy implemented by the mainland government from September to December. Midea Group Co., Ltd was given a "buy" rating, envisioning that with the accelerated implementation of the central government's policy to promote the "trade-in" of consumer goods, home appliances will become the consumer industry that can benefit the most in the second half of the year, and it is expected that the group's sales growth in the second half of the year will also accelerate, with a positive outlook on its high-profit visibility. A target price of 90.08 Hong Kong dollars was given.