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 Earnings Momentum, indicating this stock has received relativePercentileto

earnings downgrades and is not well liked by sell side

sectors market

analysts. Factors / Styles (/677) (/5117) Core factors in definition

ALPHA 90% 88% Built from the styles below

Macquarie Alpha Model: Key rankings VALUE 91% 96% Book, CF, Yield, Earnings Multiples

ANALYST 45% 62% Revisions (Earnings, Recommendations)

The Macquarie Quant’s flagship Alpha model is a dynamic MOMENTUM 69% 31% Price Momentum

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

as value, momentum, revisions, quality, and risk. GROWTH 47% 42% EPS, Sales (Forecast, Historic)

PROFITABILITY 63% 50% ROE, Margin, Asset Turnover

Global Market (Country) Sector

Consumer QUALITY 70% 69% Accruals, Earn Stability, Cash Conversion

Whole Universe China A Durables

CAPITAL 98% 98% Investment/Capex, Net share issuance

& Apparel

Macquarie Alpha LIQUIDITY 98% 98% Size, Turnover, Analyst Coverage 1905/17996 619/5117 67/677 Model

LOW RISK 88% 81% Beta, Volatility, Earn.Cert, Leverage

Fundamental

3664/17996 1065/5117 128/677 TECHNICAL 51% 33% MACD, RSI, Bollinger, Williams R, etc (Consensus) *

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

Factors driving the Alpha Model vs peers