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).
Hong Kong stock market closed today on Lunar New Year's Eve. The HSI opened 53 points lower and continued to fall, closing down 224 points, or nearly 0.9%, at 25,630. The HSCEI closed down 77 points, or nearly 0.9%, at 8,913. The HSTECH closed down 62 points, or 1.1%, at 5,515. Total market turnover was HK$119.67bn. Some resource stocks bucked the trend and were favored. Zijin Mining (2899) issued a profit warning, expecting its full-year profit to increase by about 59% to 62%, and its share price closed up 0.8%. Major auto stocks diverged, with Great Wall Motor (2333) rising more than 3%; however, BYD (1211) and Li Auto (2015) fell 2.3% and 1.4%, respectively.
Source: KGI Investment Products and Solutions Department
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