CLSA has released a research report indicating that Midea Group's (00300) overseas sales could deliver positive surprises driven by OEM orders. Utilizing a 12.5x historical average price-to-earnings ratio, the firm has raised its H-share target price from HK$90 to HK$95, reiterating an "Outperform" rating. The report notes observations that some of Midea's distributors have reflected increases in ex-factory prices, signaling an impending rise in the industry's average selling price. Historical data provides limited help in judging the correlation between price and sales volume, a situation further complicated by the backdrop of rising copper prices. However, the landscape in 2026 is expected to be different; while major home appliance companies generally agree that growth prospects remain uncertain, the industry is still anticipated to enter a recovery phase.