[Brokerage Focus] SWHY anticipates that the domestic sales prosperity of home appliances will likely benefit and continue over the next 25 years, remaining Bullish on the white goods Industry Chain with both volume and price rising.

Jinwu Financial News · 01:32

Jinwu Financial News | SWHY stated that on July 25, 2024, the National Development and Reform Commission and the Ministry of Finance jointly issued the notice "Several Measures to Strengthen Support for Large-Scale Equipment Updates and Consumer Goods Exchanges". With the implementation of the old-for-new policy exceeding expectations; the 2024 Central Economic Work Conference mentioned that efforts will still be made to vigorously boost Consumption, comprehensively expand domestic demand, and implement special actions to stimulate consumption, while also continuously increasing support for the real estate sector. The home appliance industry's domestic sales prosperity over the next 25 years is expected to benefit and continue. The white goods sector combines "low valuation, high dividends, and stable growth" characteristics, having a high safety margin and significant elasticity in stock prices. In the context of significant retail pull from the old-for-new initiatives, downstream companies in 24Q4 are actively adjusting production upward. The bank remains bullish on the white goods industry chain with both volume and price rising and continues to recommend the combination of Midea, Haier, Gree + HISENSE HA in the white goods sector, as well as Vatti Corporation, Guangdong Vanward New Electric, and Hangzhou Robam Appliances in the large kitchen appliance sector.

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【券商聚焦】申万宏源料家电25年内销景气度有望受益延续 持续看好白电产业链量价齐升

[Brokerage Focus] SWHY anticipates that the domestic sales prosperity of home appliances will likely benefit and continue over the next 25 years, remaining Bullish on the white goods Industry Chain with both volume and price rising.

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【券商聚焦】申万宏源料家电25年内销景气度有望受益延续持续看好白电产业链量价齐升