Midea Reported Robust 1H24 Results with Sales and NP Beat
Midea $美的集团(000333)$ announced its 2Q/1H24 results on Aug 19 after market hour. 2Q24 revenue grew by 10% YoY to Rmb111bn, 2% higher than consensus. Net profit was up 16% YoY to Rmb11.8bn, exceeding consensus by 5%. Midea’s domestic revenue (+8% YoY) growth remained resilient in 1H24 despite a lacklustre industry performance (15% YoY decline in retail sales value of air conditioners in 1H24, per All View Cloud). Overseas business (+13% YoY) outperformed with accelerated revenue growth and GPM expansion, driven by ongoing restocking demand. The Global X China Consumer Brand ETF (2806) $GX中国消费(02806)$ tracks the performance of China's consumer sector, including leading companies such as retailers, food and beve
[AIB] Mr. Hyeon Joo PARK, Founder and Global Strategy Officer of Mirae Asset, has been awarded the prestigious AIB Fellows International Executive of the Year at 2024 Annual Conference of International Business
[For Hong Kong Investors Only] We are honored to announce that Mr. Hyeon Joo PARK, Founder and Global Strategy Officer of Mirae Asset, has been awarded the prestigious AIB Fellows International Executive of the Year at 2024 Annual Conference of International Business held at a Seoul hotel on July 3. The award recognizes Mr. Park's visionary leadership in guiding Mirae's remarkable transformation from a $7.2 million startup in 1997 to a $600 billion global asset manager across 19 countries. Mr Park credited Mirae Asset's acclaimed ETF business as a key driver of this growth story. Looking ahead, the firm plans to enhance its ETF capabilities through AI innovation. https://www.linkedin.com/posts/academy-of-international-business_aib2024-seoul-activity-7214199208726196226-GIBc?utm_source=shar