Yuanta Securities (Hong Kong) research report pointed out that midea group co., ltd (000333.SZ) achieved a net profit attributable to the parent company of 31.7 billion yuan in the first three quarters, with a year-on-year increase of 14.4%. The net profit attributable to the parent company in Q3 was 10.89 billion yuan, a year-on-year increase of 14.9%. The company's performance meets expectations. The domestic sales of smart home appliances sector are still under pressure, yet to reflect the stimulus of home appliance subsidy policies. Overseas markets continue to grow rapidly, with new energy and industrial technology experiencing fast growth along with the sales growth of electric vehicles. However, the siasun robot&automation business remains weak due to pressure from industrial enterprise investments. Looking ahead to Q4, the national policy promoting the replacement of old home appliances with new ones will assist steady growth in home appliance consumption, benefiting the company continuously. Expansion into overseas markets will also promote growth in overseas revenue. In addition, the 2024 employee stock ownership plan is tied to the team, helping to improve profit quality. Currently, the valuation is reasonable, with a dividend yield estimated to be above 4%, maintaining a "buy" investment recommendation.