Equity Analyst

Steve Zhou, CFA

Over 13 years of professional experience covering mainly Asian consumer companies in sell-side and buy-side.

Midea Group (000333 CH):  Potential H-Share Listing Thoughts

Midea (000333 CH):  Positive Read-Through From Gree's Profit Alert

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> posted strong 4Q23 results, with net profit up 18% yoy and sales up 10% yoy. </li>
<li>In terms of 2024 outlook, management targets a 5-10% yoy growth in both the top and bottom line. </li>
<li>The stock is has rerated up to 12x 2024E earnings, compared to an average of 13x over the last 10 years. </li>
</ul>



Midea Group Co Ltd A (000333 CH) posted strong 4Q23 results, with net profit up 18% yoy and sales up 10% yoy. 
In terms of 2024 outlook, management targets a 5-10% yoy growth in both the top and bottom line. 
The stock is has rerated up to 12x 2024E earnings, compared to an average of 13x over the last 10 years. 


Midea Group (000333 CH):  Strong 4Q23 Result As Expected