Kingway Financial News | Hisense Ha (00921) strengthened against the market, as of the deadline, rose by 3.45%, to HK$20.4, with a turnover of 37.49 million HK dollars.
On the news front, Everbright Securities' research report pointed out that the domestic sales of household appliances are expected to pick up marginally, which is beneficial for the performance and valuation elasticity of the household appliances sector. The industry presents structural highlights, with stable growth in domestic sales of white goods, continued positive trend in export, and subdued performance in optional household appliances.
The bank further pointed out from a fundamental perspective: 1) The performance of white goods is stable, with high dividend yield, highlighting its allocation value. The performance growth of the white goods leader is determined by multiple factors (updated demand, retained profits, overseas business, product upgrades), and the completion of real estate projects has limited impact on performance; the dynamic dividend yield of the white goods leader is above 5%, significantly higher than the 10-year US Treasury/Chinese government bond yield, with strong attractiveness to domestic and foreign capital. Continued bullish on the valuation repair of the white goods leader. 2) The recovery of some industries is not yet obvious: The fundamental turnaround of the large kitchen appliances (closely associated with real estate) still requires the wait for industry recovery, with the main focus on the end of the adverse period of project completion; the overall consumption performance of life/kitchen small appliances (closely associated with household income) was subdued in June, and overall performance is expected to remain relatively stable in 2024.