Household Appliances

The Zhejiang Regulatory Bureau of the National Financial Regulatory Administration issued an approval on October 9, agreeing to allow A-share listed company Great Star Technology to acquire 44.6782 million MyBank shares held by Wanxiang Sannong Group and 56.7354 million shares held by Hangzhou Hebo Shi E-Commerce. Upon completion, Great Star Technology will hold 101 million MyBank shares, a 1.54% stake, making it the bank's ninth-largest shareholder. According to an announcement disclosed by Great Star Technology in June this year, the total consideration for this investment in MyBank was approximately 325 million yuan, equivalent to about 3.20 yuan per share. This equity change marks the fourth industrial shareholder introduced by MyBank, following the successive investments by three Zhejiang-based private enterprises in 2025, including Zhejiang Hangmin Industrial Group and Hangzhou Dongheng Petroleum. Great Star Technology is a listed platform actually controlled by Zhejiang business magnate Qiu Jianping. Its subsidiary Hangcha Holdings had previously invested in MyBank with a 4.88% stake. After this latest entry, Qiu Jianping's actual controlled stake within the MyBank system now exceeds 6% in total. As of the end of 2025, MyBank's total assets reached 504.59 billion yuan. For the full year 2025, it achieved operating revenue of 20.563 billion yuan, down 3.52% year-on-year, and net profit of 3.293 billion yuan, up 4.01% year-on-year.

AB Electrolux has reached a key milestone in its long-running partnership with Midea Group, with all three North American joint ventures now active and targeting roughly double the existing production capacity. The North America push follows a volatile stretch for the share price, which posted a 1-day return of 4.08% and a 90-day return of 1.67% against a year-to-date decline of 61.82% and a five-year total shareholder return down 74.41%. AB Electrolux closed at SEK24.97, while the most followed narrative puts fair value at SEK31.85, implying the stock is 22% undervalued. That narrative leans on a turnaround in profitability and mix, supported by an accelerated cost efficiency program and substantial investments in automation and digitalization. It could break if Europe remains stuck in a low replacement cycle and if currency and demand pressures in Latin America continue to squeeze profitability.

The Zhejiang Financial Regulatory Bureau issued an approval on October 9, allowing A-share listed company Great Star Technology to acquire 44.6782 million shares of Zhejiang MYbank held by Wanxiang Sannong Group Co., Ltd., as well as 56.7354 million shares of the bank held by Hangzhou Heboshi E-commerce Co., Ltd. MYbank is one of China's first private banks, initiated by Ant Group and approved by the former China Banking Regulatory Commission. After this transfer, Great Star Technology will hold a total of 101 million shares of MYbank, representing a 1.54% stake.

PepsiCo and Helen of Troy both beat earnings expectations as the Q3 reporting season got underway. PepsiCo reported earnings of $2.34 per share on revenues of $25.27 billion, beating estimates by +2.18% and +1.59%, respectively; shares rose +1% on the news but remain down more than -12% year to date. Helen of Troy, the maker of OXO home products and Hydro Flasks, posted a fiscal Q2 profit of $0.79 per share against expectations of $0.51, a +54.9% positive surprise, though revenues slipped -0.12% from estimates to $440.93 million; strong guidance for the current quarter and full year sent shares up +20% in pre-market trading. Broader markets were lower, with the Dow down -399 points, the Nasdaq down -242 and the S&P 500 down -33, while renewed attacks on Saudi energy infrastructure by Iran-backed Houthis pushed WTI crude up +4.7% to $92 per barrel and Brent to $104 per barrel. Initial Jobless Claims came in at +197K, the fourth-straight week below +200K and the lowest level post-Covid, while Continuing Claims rose slightly to +1.716 million.

PepsiCo and Helen of Troy both beat earnings expectations in reports released ahead of Thursday's open, while weekly jobless claims held at historic lows. PepsiCo reported Q3 earnings of $2.34 per share on revenues of $25.27 billion, beating estimates by +2.18% and +1.59% respectively, with shares up +1% though still down more than -12% year to date. Helen of Troy, maker of OXO home products and Hydro Flasks, posted a fiscal Q2 beat of $0.79 per share versus expectations for $0.51, a +54.9% positive surprise, with revenues down -0.12% from estimates to $440.93 million; strong guidance for the present quarter and full year sent shares up +20% in pre-market trading. Initial Jobless Claims came in at +197K, 2K lower than the prior week and the fourth-straight week under +200K, marking the lowest level post-Covid, while Continuing Claims rose slightly to +1.716 million from a downwardly revised 1.699 million. Pre-market futures were in the red, with the Dow at -399 points, the Nasdaq at -242 and the S&P 500 at -33 points, as renewed attacks on Saudi energy infrastructure by Iran-backed Houthis pushed spot oil up +4.7% to $92 per barrel on WTI and $104 per barrel for Brent crude.

On the evening of October 8, several A-share listed companies disclosed progress on share buybacks, with Midea Group having repurchased nearly 10 billion yuan and planning to cancel all repurchased shares. Midea Group's announcement showed that as of September 30, the company had repurchased 123 million A-shares through centralized bidding, accounting for 1.61% of its current total share capital, with the highest transaction price at 87.71 yuan per share and the lowest at 73.66 yuan per share, for a total payment of 9.94 billion yuan, excluding transaction fees. The buyback plan originally set a repurchase amount of no more than 13 billion yuan and no less than 6.5 billion yuan, with a repurchase price not exceeding 100 yuan per share. After board review, the use of repurchased shares was changed from equity incentive plans and employee stock ownership plans to cancellation to reduce registered capital. On the same day, CATL disclosed that it had repurchased 10.9452 million A-shares, accounting for 0.2482% of total share capital, with a total transaction amount of 3.303 billion yuan. Its buyback plan proposes to use no less than 20 billion yuan and no more than 40 billion yuan, and the repurchased shares will also be cancelled to reduce registered capital. In addition, GigaDevice repurchased 2.4519 million shares, paying 948 million yuan; Salubris repurchased 8.3196 million shares, with a total transaction amount of 266 million yuan; Jianlong Weina repurchased 1.0002 million shares, paying a total of 26.4348 million yuan; YTO Express repurchased 2.2933 million shares, with a cumulative repurchase amount of 39.9847 million yuan.

Midea Group announced on the evening of October 8 that as of September 30, the company had repurchased a total of 123 million A-shares through a dedicated repurchase securities account via centralized bidding, accounting for 1.61% of the company's current total share capital. The highest transaction price was 87.71 yuan per share, the lowest was 73.66 yuan per share, and the total amount paid was 9.94 billion yuan, excluding transaction fees. Previously, on March 30, 2026, the company's repurchase plan was approved at the 13th meeting of the fifth board of directors, with a repurchase price not exceeding 100 yuan per share, a repurchase amount not exceeding 13 billion yuan and not less than 6.5 billion yuan, and an implementation period of 12 months from the date of board approval. The original purpose was to implement an equity incentive plan and/or an employee stock ownership plan. Subsequently, on April 29, 2026, the company approved a change proposal at the 14th meeting of the fifth board of directors, changing the purpose of the repurchased shares to cancellation for reducing registered capital in accordance with the law.

On the evening of October 8, multiple listed companies on the Shanghai and Shenzhen stock exchanges released positive announcements. Amlogic issued its performance forecast for the first three quarters of 2026, expecting net profit attributable to owners of the parent company of 1.26 billion to 1.31 billion yuan, up 80.58% to 87.74% year on year, with third-quarter net profit expected at 649 million to 699 million yuan, up 222.67% to 247.52% year on year. The company preliminarily estimates that annual operating revenue this year is expected to exceed 10 billion yuan. Dongyue Silicone expects net profit for the first three quarters of 547 million to 567 million yuan, compared with only 2.8567 million yuan in the same period last year, mainly benefiting from rising product prices and lower unit production costs. Xingyun Technology expects net profit for the first three quarters of 240 million to 290 million yuan, turning from loss to profit year on year, with computing power business, especially server sales, achieving explosive growth. Midea Group announced that as of September 30, 2026, it had cumulatively repurchased 123 million A-shares, accounting for 1.61% of total share capital, with a total payment of 9.94 billion yuan. The purpose of this buyback plan has been changed to cancellation and capital reduction. Hua Hong Hongli announced that Guosheng Group subscribed for 6.127 billion yuan of new registered capital in Hua Hong Group in cash, raising its shareholding from 15.29% to 41.66%, and its indirect shareholding in the company through Hua Hong Group and Hua Hong International rose from 3.75% to 10.22%. In addition, Huada Jiutian invested 149 million yuan to acquire 9.269142 million shares of Xinxingji, Jianyan Institute received a tender offer from Hanqi Investment for 9.9% of its shares, Zhucheng Technology plans to invest no more than 409 million yuan to build a southwest headquarters base project for communication connectors, Hangyu Technology plans to invest about 600 million yuan in an aero-engine gas turbine ring forging project, Bright Laser Technologies plans to invest about 1 billion yuan to build a high-end metal additive manufacturing industrial base project, and Zhibang Home Furnishing plans to increase capital by 200 million yuan and invest in a smart manufacturing base project in Thailand.

Midea Group released a progress announcement on its share repurchase on the evening of October 8. As of September 30, the company had cumulatively repurchased 123 million A-shares through its dedicated repurchase securities account via centralized bidding, accounting for 1.61% of the company's current total share capital. The highest transaction price was 87.71 yuan per share, and the lowest was 73.66 yuan per share, with a total payment of 9.94 billion yuan, excluding transaction fees. According to a previous announcement, the repurchased shares will be cancelled in accordance with the law to reduce registered capital. The repurchase price will not exceed 100 yuan per share, and the repurchase amount will range from 6.5 billion yuan to 13 billion yuan. The implementation period is within 12 months from March 30, 2026, when the board of directors approved the share repurchase plan. In the secondary market, Midea Group's stock price in 2026 has generally fluctuated upward, hitting an intra-year high of 89.50 yuan per share on July 30. As of the close on October 8, it reported 81.74 yuan per share, up 2.05% on the day.

Gree Electric disclosed on October 8 that as of September 30, 2026, the company had repurchased 28.32 million shares, accounting for 0.5056% of total share capital, with a repurchase amount of 1.083 billion yuan, at prices ranging from 37.83 yuan to 40.1 yuan per share. In the first half of 2026, Gree Electric achieved revenue of 89.673 billion yuan and net profit attributable to the parent of 13.278 billion yuan.

Haier Smart Home announced that the company has confirmed a voluntary public buyback of 79,392,362 overseas-listed foreign-invested D-shares, representing approximately 0.853% of the company's total share capital, and all such repurchased shares will be cancelled. As of the date of the announcement, the aforementioned repurchased D-shares have not yet been cancelled, and the company will disclose changes in share capital after the cancellation is completed.

AXIL Brands reported first-quarter fiscal 2027 net income of $420,571, up 25.8% from $334,294 a year earlier, even as net revenues fell 11.2% to $6.1 million from $6.9 million. Earnings per share rose to 5 cents from 4 cents, gross profit increased 8.6% to $5 million and gross margin expanded to 82.6% from 67.6%, though excluding a non-recurring customs-duty refund benefit the gross margin was 73.6%. The revenue decline reflected the planned transition from first-generation XCOR to XCOR II and the absence of a material big-box retail order recorded in the year-ago quarter, while profitability benefited from $550,929 of refunded IEEPA customs duties recognized as a reduction of cost of revenues. Management highlighted the XCOR II launch as the quarter's principal operating development, with orders exceeding $2.8 million by Aug. 26 and reaching more than $3.6 million by Sept. 30 across retail, distribution and direct-to-consumer channels, and said the quarter's results did not yet reflect the new product's revenue contribution. AXIL expects fiscal 2027 net revenues and net income to increase from fiscal 2026 levels, with improvement becoming more evident beginning in the fiscal second quarter, and brought three strategic partners into Reviv3 ProCare Company with roughly a 25% ownership interest while retaining approximately 75%.

Bitcoin Japan, formerly Hotta Marusho, announced on the 29th that its wholly owned subsidiary BTC JPN Ltd. has completed its first purchase of bitcoin. The acquisition totaled 11.9188 BTC, with the purchase date on the 28th, an acquisition price of 83,857.43 dollars per BTC, and a purchase cost of 999,479.94 dollars, equivalent to about 157.24 million yen at 157.32 yen to the dollar. The company disclosed on the 18th that it would launch a bitcoin treasury business and a bitcoin-related asset management business through the subsidiary, and because it had set the combined purchase cost and trading fees at 1 million dollars as the cap for the initial purchase, this acquisition was carried out within that limit. Separately, it recorded about 85,000 yen, or roughly 540 dollars, as an expense for remittance fees from Japan. The group plans to continue making additional purchases, with the timing, quantity, and amount to be decided within the upper limit of 662 million yen in total investment funds for the business as indicated in the disclosure on the 18th. The impact on consolidated results for the fiscal year ending March 2027 is under review, and the bitcoin held will be marked to market each quarter, with valuation gains and losses recorded in the income statement.

Bitcoin Japan, formerly Hotta Marusho, announced on September 29 that its wholly owned subsidiary had completed its first purchase of bitcoin. On September 28 it acquired 11.9188 BTC, worth about 157.24 million yen, with the purchase price amounting to 999,479.94 dollars, or roughly 157.24 million yen. Including the purchase price and trading fees, the transaction was carried out within the initially set upper limit of 1 million dollars. On September 18 the company announced that BTC JPN Ltd., a wholly owned subsidiary based in the Cayman Islands, would launch a bitcoin treasury business and related asset management operations, and said it planned an initial investment capped at 1 million dollars, covering the bitcoin purchase price and trading fees. On July 16 the company unveiled a financing plan of about 9.7 billion yen through convertible bonds and share options, and stated that 66.2 million yen would be allocated to bitcoin investment; the latest purchase is the first acquisition carried out within this investment framework. The group plans to continue buying bitcoin, with the timing, quantity, and amount of additional purchases to be decided within the 66.2 million yen cap for investment across the business as a whole.

On the evening of September 28, more than 20 listed companies on the Shanghai Stock Exchange, including those on the STAR Market, released a batch of positive announcements covering share buybacks and stake increases, asset restructuring, drug approvals, and the signing of major operating contracts. Buybacks and stake increases were the highlight of the evening, with 12 companies publishing related plans or implementation progress. Among them, Huaqin Technology plans to use 300 million to 400 million yuan of its own funds to repurchase shares, with a buyback price cap of 100 yuan per share. Sifang Electric plans to spend 100 million to 150 million yuan on buybacks, with a price cap of 50 yuan per share. Jingsong Intelligent, which has already entered the implementation stage, completed its first buyback of 27,300 shares for 502,600 yuan. Haier Smart Home has repurchased a total of 108 million shares from March 27 to September 28 this year, spending 2.27 billion yuan. Bull Group has repurchased a total of 6.2046 million shares, using 245 million yuan. On the stake increase side, CCCC Design and Consulting's controlling shareholder CCCC Capital has increased its stake by a total of 15.3542 million shares since launching the increase on August 18, investing 80.36 million yuan and meeting the minimum amount required by the increase plan. In asset restructuring, Garden Corporation plans to issue shares and pay cash to acquire 93.5031 percent of Hualan Micro's shares while raising supporting funds. After the deal is completed, it will control this company engaged in the research, development and design of domestic storage controller chips, expanding its business into the storage chip sector. At the operating level, Jiangsu Jianyou Bio-Pharmaceutical's subsidiary received approval from the U.S. FDA for its vitamin B1 injection, with cumulative research and development investment of nearly 20 million yuan for the project. Shanghai Pharmaceuticals had multiple formulation products approved for production. China National Chemical Engineering announced total newly signed contracts of 238.797 billion yuan from January to August, and in August it secured several large orders including the general contracting of a gold mine in Saudi Arabia.

Amata Corporation Public Company Limited, or AMATA, disclosed that Homa, a major global refrigerator and freezer manufacturer from China, will establish a production base in Amata Industrial Estate in Chonburi with an investment budget of over 3.1 billion baht, a production capacity of approximately 1.5 million units per year, and is expected to generate export value of up to 12 billion baht per year. The production base will focus on manufacturing high-efficiency refrigerators, smart refrigerators, and high-standard freezers that comply with European Union energy regulations. Michael Yao, President of Homa Appliance (Thailand) Company Limited, said this investment will create approximately 1,400 jobs in the first phase and is expected to rise to 3,000 jobs within one to two years, with a goal of increasing the use of domestic components to 50 to 60 percent. Meanwhile, Vikrom Kromadit, Chief Executive Officer of AMATA, stated that Chinese investors remain continuously interested in investing in Thailand, increasingly viewing the country as a production base for exporting to global markets, shifting from a previous focus on production for the domestic market.

Amata Corporation Public Company Limited, or AMATA, disclosed that Homa, a major global refrigerator and freezer manufacturer from China, will invest more than 3.1 billion baht to establish a production base in Amata Industrial Estate in Chonburi Province, with production capacity of approximately 1.5 million units per year and expected export value of up to 12 billion baht per year. This production base will focus on manufacturing high-efficiency refrigerators, smart refrigerators, and high-standard freezers that comply with European Union energy requirements. In the first phase, it will create approximately 1,400 jobs and is expected to increase to 3,000 positions within one to two years, while aiming to raise the proportion of locally sourced components to 50 to 60 percent. Vikrom Kromadit, Chief Executive Officer of AMATA, said this investment will strengthen the electrical appliance and electronics industry cluster in the area and open opportunities for Thai operators to connect into the production chains of world-class manufacturers. Michael Yao, President of Homa Appliance (Thailand) Company Limited, said this investment decision marks an important step in Homa's global business development, as the company sees Thailand as having a strong foundation for serving customers across ASEAN and connecting with global markets.

Homa Appliance (Thailand) Co., Ltd., or Homa, a major global manufacturer of refrigerators and freezers from China, has established a production base in Amata Industrial Estate in Chonburi with an investment of over 3.1 billion baht. Production capacity is approximately 1.5 million units per year, and the facility is expected to generate export value of up to 12 billion baht per year. The production base will focus on manufacturing high-efficiency refrigerators, smart refrigerators, and high-standard freezers that comply with European Union energy requirements. Employment will start at around 1,400 positions and is expected to rise to 3,000 within one to two years, with a target of increasing the use of locally sourced components to 50 to 60 percent. Vikrom Kromadit, Chief Executive Officer of Amata Corporation Public Company Limited, or AMATA, said Chinese investors remain continuously interested in investing in Thailand, viewing the country as one of the region's key production bases. Meanwhile, Michael Yao, President of Homa Appliance (Thailand) Co., Ltd., stated that this investment is an important step in Homa's global business development, as Thailand has a strong foundation for serving customers across ASEAN and connecting to global markets.

Whirlpool Corporation reported second-quarter net sales of $3.52 billion, down 6.8% year over year, and swung to an ongoing loss of $0.21 per diluted share from a profit of $1.34 a year earlier, while holding its full-year outlook steady. The appliance maker said MDA North America grew net sales 8% quarter over quarter and expanded EBIT margin by 240 basis points on previously announced pricing actions and new product launches, and it announced fresh price increases in Latin America to address margin pressure in Brazil. Whirlpool completed the transition to a $2 billion asset-based lending facility and issued $2 billion in secured bonds, clearing debt maturities until 2028, and an agreement with Arcelik to sell its remaining 25% stake in Beko produced a $139 million gain and $84 million in net cash proceeds during the quarter. Year over year, ongoing EBIT fell 69.1% to $62 million and ongoing EBIT margin dropped to 1.8% from 5.3%, with MDA North America's EBIT margin down 3.2 points to 2.7% on tariff costs, raw material inflation and fuel costs, MDA Latin America's EBIT margin down 3.0 points, and SDA Global's EBIT margin down 5.4 points on planned marketing investment. The company still guides to $300 million or more in full-year free cash flow and more than $150 million in structural cost cuts, with updated full-year EPS guidance of $2.25 to $2.75 GAAP and $2.50 to $3.00 ongoing reflecting a higher interest expense outlook.

Changhong Meiling and its subsidiary Hefei Changhong Industrial Co., Ltd. announced they will invest in the construction of dryer and dishwasher projects, with a total investment of 79.8 million yuan. The company will contribute 65.5 million yuan and Hefei Changhong Industrial will contribute 14.3 million yuan, funded through self-raised capital. The project aims to boost dryer production capacity and improve the white goods category layout. It is scheduled to start at the end of September 2026, with a construction period of 12 months, and is expected to officially begin production in December 2027. In the first half of 2026, Changhong Meiling achieved revenue of 16.136 billion yuan and net profit attributable to the parent of 57.98 million yuan.

Midea has placed SMART MASTER at the centre of its IFA 2026 showcase, unveiling an AI-powered home ecosystem designed to listen, understand, and respond naturally. The system's AI Agent supports 140 languages, has an 8-metre voice-recognition range, and a 0.4-second response time, with voice entry points built into key appliances and additional access through in-car systems. The AI Agent provides personalised support through features like Comfort Agent, Health Agent, Efficiency Agent, and Service Agent, which adjust home environments, recommend meals, manage energy, and offer maintenance guidance. Midea also showcased Midea Robot, a physical embodiment of AI built on the EAGLES system architecture and powered by four multimodal foundation models, demonstrating tasks such as tableware handling and popcorn preparation. Cliff Liang, General Manager of Enterprise Commercial for the China Region at Microsoft, joined the event to share Microsoft's perspective on the next phase of AI.

SharkNinja, Inc. shares have fallen 2.6% since its latest earnings report, underperforming the S&P 500, but the company delivered strong second-quarter results and raised its full-year 2026 outlook. Adjusted earnings came in at $1.26 per share, up 29.9% year over year and beating the consensus estimate of $1.10, while net sales rose 22.2% to $1,765.5 million, surpassing expectations. Growth was broad-based across all four segments, with Beauty and Home Environment Appliances surging 65.3% and international sales up 36.6%. Management raised its 2026 net sales growth forecast to 16-17% from 11.5-12.5%, and adjusted EPS guidance to $6.45-$6.55, partly due to an expected $247.1 million tariff refund benefit. The company also repurchased 815,233 shares for $99.7 million during the quarter.

SharkNinja, Inc. raised its fiscal 2026 net sales growth forecast to 16-17% from 11.5-12.5% previously, citing strong performance across its product portfolio. In the second quarter of fiscal 2026, net sales increased 22.2% year over year to $1.77 billion, with all four major categories contributing to growth. Cooking and Beverage Appliances led incremental sales, rising 36.5% to $499 million, while Beauty and Home Environment Appliances grew fastest at 65.3% to $285.8 million. Established categories also performed well: Food Preparation Appliances sales rose 13.3% to $458.6 million, and Cleaning Appliances, the largest category, advanced 4.1% to $522 million. Management noted that roughly 20 of its 25 annual product launches target existing categories, which have typically delivered mid- to high-single-digit growth over the past three years. The company's shares have gained 44.2% over the past three months, and it trades at a forward price-to-sales ratio of 3.05, below the industry average of 3.34.

On the evening of September 2, multiple listed companies disclosed progress on share buybacks. Midea Group announced that as of August 31, the company had cumulatively repurchased 99.798 million A-shares, accounting for 1.31% of total share capital, with a total payment of 8.02 billion yuan. Wuliangye cumulatively repurchased 14.7074 million shares, accounting for 0.3789% of total share capital, with a payment of 1.101 billion yuan. Foxconn Industrial Internet cumulatively repurchased 14.0102 million shares, accounting for 0.07% of total share capital, with a transaction amount of 887 million yuan. Metallurgical Corporation of China repurchased 182 million A-shares, accounting for 0.87805% of total share capital, with a transaction amount of 509 million yuan, and also repurchased 65.815 million H-shares, accounting for 0.31808% of total share capital, with a transaction amount of 105 million Hong Kong dollars. STO Express repurchased 24.2313 million shares, accounting for 1.58% of total share capital, with an amount of 339 million yuan. Ultrapower Software repurchased 37.2511 million shares, accounting for 1.89% of total share capital, with an amount of 301 million yuan. Sungrow Power Supply repurchased 3.0476 million shares, accounting for 0.147% of total share capital, with an amount of 325 million yuan.