Analyst

Steve

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