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<Research>G Sachs: XIAOMI-W Enters CN AC Mkt; MIDEA GROUP Expected to Be Most Resilient
China's air conditioner (AC) market remains attractive in several aspects: high consolidation with leaders having higher profit margins, supply-demand balance, and leaders'...
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<Research>G Sachs: XIAOMI-W Enters CN AC Mkt; MIDEA GROUP Expected to Be Most Resilient
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China's air conditioner (AC) market remains attractive in several aspects: high consolidation with leaders having higher profit margins, supply-demand balance, and leaders' core earnings strategies, Goldman Sachs commented in its report.

As XIAOMI-W (01810.HK)  -0.150 (-0.264%)    Short selling $1.47B; Ratio 14.865%   's competition with industry leaders is related to the overall efficiency of the industry's value chain, supply chain, manufacturing, and distribution network, Goldman Sachs anticipates that it will enhance industry efficiency and potentially reduce the profit pool.

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Goldman Sachs also sees MIDEA GROUP (00300.HK)  +1.500 (+1.795%)    Short selling $94.19M; Ratio 16.961%   as the most resilient manufacturer that can leverage its global leading production advantages and continuous improvement in distribution efficiency to expand its market share.

The broker has kept a Buy rating on MIDEA GROUP, HAIER SMARTHOME (06690.HK)  +0.180 (+0.672%)    Short selling $134.36M; Ratio 21.263%   , HISENSE HA (00921.HK)  +0.060 (+0.255%)    Short selling $2.70M; Ratio 2.136%   , and XIAOMI-W.

Stocks | Investment Rating | Target Price (HKD)
MIDEA GROUP (00300.HK)  +1.500 (+1.795%)    Short selling $94.19M; Ratio 16.961%   | Buy | 93 -> 101
HAIER SMARTHOME (06690.HK)  +0.180 (+0.672%)    Short selling $134.36M; Ratio 21.263%   | Buy | 31 -> 32
HISENSE HA (00921.HK)  +0.060 (+0.255%)    Short selling $2.70M; Ratio 2.136%   | Buy | 29 -> 28
GREE APPLIANCES (000651.SZ)  +0.230 (+0.572%)   | Buy -> Neutral | RMB53 -> RMB42
XIAOMI-W (01810.HK)  -0.150 (-0.264%)    Short selling $1.47B; Ratio 14.865%   | Buy | 65
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-09-19 16:25.) (A Shares quote is delayed for at least 15 mins.)

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