Midea Group Co Ltd Class A

000333: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥88.00	Jqdwq	Gycjtgcw

Midea’s Q1 2023 Earnings in Line; Shares Undervalued

Chokwai Lee

May 1, 2023

Business Strategy and Outlook

Midea is one of the largest household appliance manufacturers in China, with key products being air conditioners, refrigerators, washing machines and small household appliances. It is consistently ranked as one of the top three players in China by retail sales in most of the home appliance products. We think the firm’s leadership position is underpinned by its reputable brand, extensive distribution network and strong focus in research and development.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

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