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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Midea Group Co., Ltd.    000333   CNE100001QQ5

MIDEA GROUP CO., LTD.

(000333)
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Germany considers protecting firms from foreign takeovers-newspaper

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10/16/2016 | 04:42am EDT

BERLIN (Reuters) - The German Economy Ministry wants to protect high tech companies in Germany from unwanted takeovers, especially from state-owned and partly state-owned companies in non-European countries, a German newspaper reported on Sunday.

Welt am Sonntag (WamS) said Deputy Economy Minister Matthias Machnig had in the past week sent to members of the German government a paper containing six key points for reviewing investment at the European Union level.

The paper foresees wide-reaching rights for the EU and national governments to prohibit company acquisitions by investors in non-EU countries, the newspaper said.

The issue of foreign takeovers has come to the fore in Germany with Chinese home appliance maker Midea (>> Midea Group Co Ltd) buying German robot maker Kuka (>> KUKA AG) and Chinese chipmaker Sanan Optoelectronics (>> SANAN OPTOELECTRONICS CO.,LTD) saying on Monday it had been in contact with German lighting group Osram (>> Osram Licht AG) about a potential acquisition or cooperation deal.

Asked about the newspaper report, a spokesman for the Economy Ministry said he would not comment on internal government working papers.

"Minister (Sigmar) Gabriel has, however, repeatedly made clear that he would like to sound out options - also at the European level - to make fair competition possible, especially in international competition with state-subsidised foreign companies, and at the same time to remain open for investment," the spokesman said.

(Reporting by Michelle Martin and Holger Hansen; Editing by Mark Potter)


Stocks mentioned in the article
ChangeLast1st jan.
AMS AG 0.36% 22.2 Delayed Quote.-43.47%
KUKA -1.32% 37.3 Delayed Quote.2.19%
MIDEA GROUP CO., LTD. 1.73% 76.3 End-of-day quote.30.99%
OSRAM LICHT AG 0.04% 51.24 Delayed Quote.16.06%
SAN'AN OPTOELECTRONICS CO., LTD. -1.37% 23.84 End-of-day quote.29.85%
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Financials
Sales 2020 279 B 41 838 M 41 838 M
Net income 2020 24 820 M 3 718 M 3 718 M
Net cash 2020 34 135 M 5 114 M 5 114 M
P/E ratio 2020 21,4x
Yield 2020 2,17%
Capitalization 533 B 79 764 M 79 776 M
EV / Sales 2020 1,78x
EV / Sales 2021 1,53x
Nbr of Employees 150 000
Free-Float 61,8%
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Technical analysis trends MIDEA GROUP CO., LTD.
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 33
Average target price 79,27 CNY
Last Close Price 76,30 CNY
Spread / Highest target 18,4%
Spread / Average Target 3,89%
Spread / Lowest Target -26,9%
EPS Revisions
Managers
NameTitle
Hong Bo Fang Chairman, President & General Manager
Francoise Liu Chairman-Supervisory Board
Helmut Zodl Chief Financial Officer
Zi Qiang Hu Chief Technology Officer & Vice President
Jian Feng He Director
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