Lyon: Midea Group Co., Ltd (00300) target price raised to HKD 99; first quarter net profit outperforms the industry.

13:43 30/04/2026

This partnership between Midea and Electrolux in North America marks the official entry of the Midea brand into the American market. The bank has raised profit forecasts for Midea and increased its target prices for H shares/A shares from 94 Hong Kong dollars/86 RMB to 99 Hong Kong dollars/90 RMB respectively.

Lyon released a research report stating that Midea Group Co., Ltd (00300,000333.SZ) saw a 2.5% increase in first quarter revenue and a 2% increase in net profit in 2026, outperforming its peers. Domestic sales growth for Midea was faster than overseas sales. The bank predicts that as domestic demand weakens, domestic sales will slow down, while overseas sales, starting from a low base, will accelerate to high single-digit growth in the future. The bank views Midea's partnership with Electrolux in North America as the beginning of Midea's brand officially penetrating the U.S. market. The bank has raised its profit forecast for Midea and raised its H-shares/A-shares target price from 94 Hong Kong dollars/86 yuan to 99 Hong Kong dollars/90 yuan, mainly reflecting lower marketing expenses. The bank maintains an outperform rating.

HK Stock Market Move | EAST BUY (01797) plunges more than 8% in midday trading, four core anchors collectively resign, the company quickly distributes 500 million Hong Kong dollars in stock incentives.

Donghai Securities: Optimistic about the sector catalysis brought by the increase in first quarter value, focusing on the opportunity for insurance sector allocation.

New stock news | Cofoe Medical Technology (01187) has received a subscription amount of HK$3.274 billion for its initial public offering, oversubscribed by 307.3 times. The entry fee for one lot is HK$3,972.7.

Donghai Securities: Optimistic about the sector catalysis brought by the increase in first quarter value, focusing on the opportunity for insurance sector allocation.