Expect sequential improvement in 2HFY26

研报英文原文证据摘录

Expect sequential improvement in 2HFY26

Macquarie Equity Research Haier Smart Home

Alpha Model Decomposition Key Quant Findings

The quant model currently holds a strong positive view The Macquarie Alpha is decomposed into its sector and

on Haier Smart Home. The strongest style exposure is market relative factor & styles exposures (a higher/better

Valuations, indicating this stock is under-priced in the percentile is coded in green, whilst lower in red).

market relative to its peers. The weakest style exposure

is Profitability, indicating this stock is not efficiently relativePercentileto

converting investments to earnings; proxied by ratios like

sectors market

ROE or ROA. Factors / Styles (/677) (/599) Core factors in definition

ALPHA 91% 88% Built from the styles below

Macquarie Alpha Model: Key rankings VALUE 83% 90% Book, CF, Yield, Earnings Multiples

ANALYST 70% 55% Revisions (Earnings, Recommendations)

The Macquarie Quant’s flagship Alpha model is a dynamic MOMENTUM 90% 66% Price Momentum

multi-factor model based on a staple of quant factors such

as value, momentum, revisions, quality, and risk. GROWTH 66% 56% EPS, Sales (Forecast, Historic)

PROFITABILITY 64% 48% ROE, Margin, Asset Turnover

Global Market (Country) Sector

Consumer QUALITY 51% 61% Accruals, Earn Stability, Cash Conversion

Whole Universe Hong Kong Durables

CAPITAL 75% 92% Investment/Capex, Net share issuance

& Apparel

Macquarie Alpha LIQUIDITY 67% 84% Size, Turnover, Analyst Coverage 1824/17996 69/599 64/677 Model

LOW RISK 57% 72% Beta, Volatility, Earn.Cert, Leverage

Fundamental

5056/17996 326/599 187/677 TECHNICAL 29% 31% MACD, RSI, Bollinger, Williams R, etc (Consensus) *

* based on Total Shareholder Return = Consensus Price target / Current Price

Factors driving the Alpha Model vs peers