Daily focus：Midea Group (300)
It is deepening its "Brand Globalization" strategy. Traditional white goods remain its strong cash flow foundation, with a projected CAGR of 6.8% for revenue from 2025 to 2030. Future core growth will be driven by overseas markets. Additionally, its "second growth engine," industrial solutions, saw a 9.7% increase in revenue from non-white goods segments. This signifies that Midea is gradually moving away from the old logic of solely relying on the real estate cycle and consumer spending, shifting towards a new growth model with higher technological barriers and customer loyalty, effectively diversifying the risks of a single business and making it a revenue accelerator.
Employment Data Fuels Interest Rate Cut Expectations
The latest weekly unemployment claims data has become the focus of the market. Initial jobless claims for the week ending December 27th fell to 199,000, far below economists' expectations of 220,000, breaking the psychological threshold of 200,000. This data reflects that companies remain cautious under the rigid dynamic of "no hiring, no layoffs." Meanwhile, the unemployment rate reached a four-year high of 4.6%, suggesting an overall weak job market.
Hong Kong Stock Connect saw a net inflow of HK$3.45bn on Wednesday, with China Merchants Bank (3968) experiencing the largest net inflow at HK$720mn, followed by Industrial and Commercial Bank of China (1398); Zijin Mining (2899) saw the largest net outflow at HK$680mn, followed by Tencent Holdings (700).
The HSI opened 1 point higher and then extended its gains, closing up 219 points or 0.9% at 25,854; the HSCEI rose 99 points or 1.1% to 8,991; and the HSTECH gained 95 points or 1.7% to 5,578. Total market turnover was HK$199.8bn. Market anticipation of the Kunlun chip concept under Baidu boosted Baidu (9888) shares by 8.9%. Robotics concept stocks generally rose, with Johnson Electric (0179) up 4.7% and Lens Technology (6613) up 5.1%. DOBOT (2432) proposed its IPO on the Shenzhen Stock Exchange, and its share price rose 13.5%. UBTECH (9880), a peer company, announced that its chairman would not reduce his shareholding within one year, and its share price rose 8.3%.
Source: KGI Investment Products and Solutions Department
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