Morgan Stanley released a research report stating that they believe Haier Smarthome (06690) has over an 80% chance of outperforming the market in the next 15 days, with a target price of HK$26 and a rating of "synchronized with the market".
The report stated that the National Development and Reform Commission announced the plan to replace old appliances with new ones, covering 8 areas including refrigerators, washing machines, televisions, air conditioners, computers, etc. Each consumer can receive a subsidy in each area, up to 20% of the retail price. Morgan Stanley pointed out that the specific policies for direct consumer subsidies will support the growth forecast and investment intentions of major home appliance companies including Haier Smarthome.