According to a research report published by Huatai Securities, Midea Group is transforming from a traditional home appliance leader to a global technology manufacturing enterprise. It has strong management and defense capabilities in the short term. Medium- to long-term overseas expansion, TOB business and AI industry chain layout can provide room for growth, form a dual logic of steady performance+valuation reshaping, maintain a “buy” rating, and raise the valuation premium. The target price was raised from HK$120.32 to HK$134.46. The bank believes that the overseas market is still an important source of revenue growth for the US. The company continues to promote OBM transformation, and the share of overseas revenue continues to increase. The domestic business is improving profits through product upgrades and structural optimization, and the company is actively expanding intelligent manufacturing and ToB businesses. Among them, data center cooling benefits from AI computing power infrastructure and is expected to become a new driving force for growth. Coupled with Midea's continued cost reduction and efficiency, profitability expectations remain stable.

According to a research report published by Huatai Securities, Midea Group is transforming from a traditional home appliance leader to a global technology manufacturing enterprise. It has strong management and defense capabilities in the short term. Medium- to long-term overseas expansion, TOB business and AI industry chain layout can provide room for growth, form a dual logic of steady performance+valuation reshaping, maintain a “buy” rating, and raise the valuation premium. The target price was raised from HK$120.32 to HK$134.46. The bank believes that the overseas market is still an important source of revenue growth for the US. The company continues to promote OBM transformation, and the share of overseas revenue continues to increase. The domestic business is improving profits through product upgrades and structural optimization, and the company is actively expanding intelligent manufacturing and ToB businesses. Among them, data center cooling benefits from AI computing power infrastructure and is expected to become a new driving force for growth. Coupled with Midea's continued cost reduction and efficiency, profitability expectations remain stable.