Research Report Nuggets丨Cathay Pacific Junan: Haier Smart Home's 23-year performance is in line with expectations, and the dividend ratio has further increased

Gelonghui Finance ·  Apr 9 03:09

According to the Cathay Pacific Junan Research Report, Haier Smart Home (6690.HK)'s 2023 performance was in line with expectations, and the dividend ratio was further increased. It is optimistic that the leading overseas market share will continue to increase and high-end technology will drive improvements in profit efficiency. Maintain an “Overweight” rating. Among the company's five main businesses in 2023, air conditioning revenue was +14% ahead of other sectors compared to the same period last year. In terms of export sales, Europe led the way in growth, revenue +24% year over year, and the US GEA performed steadily. The significant increase in the European market comes from the company's commitment to improving the competitiveness of products and supply chains. The cash dividend ratio has increased, and the future commitment ratio is even higher: the company plans to distribute cash dividends of 7.471 billion yuan, accounting for 45.02% of net profit returned to mother in '23, an increase of 9% over 2022.

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