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<Research>HSBC Research Expects MIDEA GROUP (00300.HK) Shareholder Return to Be 6.7% This Yr, Lifts TP to $110
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Industry data shows a YoY decline of about 24% in air conditioner sales in mainland China for 4Q25, due to a higher base and continued pressure on industry demand, HSBC Global Research issued a research report saying. However, the broker expected MIDEA GROUP (00300.HK)'s revenue to be slightly better than expectation during the same period, as its sales outperformed the industry average through merger and acquisition projects. Looking ahead to 2026, HSBC Global Research believed that domestic demand for home appliances will be affected by the gradual withdrawal of subsidies and high base effects, and predicted the Group to maintain mid-single-digit growth. Meanwhile, combining dividends and buybacks, shareholder returns for 2026/ 2027 are estimated to rise to 6.7%/ 7%, respectively. Therefore, the broker lifted its target prices for MIDEA GROUP's H-/ A-shares from $109/ RMB99 to $110/ RMB97, with ratings kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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