On June 29, Midea Group (00300.HK) rose 3.67% in regular trading, reaching HKD 83.2 per share with turnover of HKD 144 million, leading the Household Appliances sector.

The surge was driven by intensifying reports of record-breaking heatwaves across Europe, where Midea's PortaSplit portable split air conditioners have become a viral sensation, selling out across multiple countries. France recorded 43°C, England hit 36.7°C — both historic June records — triggering panic buying of cooling equipment in a region with only about 20% air conditioning penetration.

Midea confirmed that demand has been extraordinary, with its PortaSplit units sold out across multiple sales channels. Second-hand prices have surged above new product retail prices. German e-commerce sales grew approximately 37% year-on-year in May, while shipments to Spain and France surged 108% YoY. The company stated its Shunde manufacturing base has activated full overtime production, shipping units to Europe via China-Europe rail freight. Dedicated stock-tracking websites have even been created by consumers to monitor inventory availability across European retail chains.

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