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Haitong Securities: Huge potential in the Southeast Asian consumer electronics market, with the rise of Chinese brands.
The Southeast Asian market has a large population base, the economy is still in a rapid development period, and the home appliance market has great development potential, with Chinese brands thriving.
Detailed rules to support multiple regions! Hong Kong stocks' household appliances sector is strengthening again, institutions say that policy effectiveness is expected to be realized from September.
① What changes are expected in the market as the detailed rules of the "old-for-new" policy are implemented in multiple regions? ② The Hong Kong stock market's household appliance sector has once again shown strength. How do institutions view the future market conditions?
Brokerage Focus: Northeast Securities has first issued a buy rating for TCL Electronics (01070). Data shows that its global TV shipments market share ranks second in the world.
The Northeast Securities Research Department of Jinwu Financial Information reported that tcl electronics (01070) recorded revenue of 45.494 billion Hong Kong dollars in the first half of the year, a year-on-year increase of 30.3%, and achieved a net income attributable to the mother of 0.65 billion Hong Kong dollars, a year-on-year increase of 146.5%. The department pointed out that in H1 2024, the company's TV shipments reached 12.52 million units, a year-on-year increase of 9.2%, and the revenue increased by 23.2% year-on-year to 25.914 billion Hong Kong dollars, significantly outperforming the industry average in terms of both quantity and amount. The latest report from Omida shows that TCL TV's global shipment market share has reached 13.3%, an increase of 0.9 percentage points year-on-year, positioning
Provinces and cities are actively introducing policies to encourage the replacement of old furniture with new ones. Stocks of home appliances are rising collectively, with Haier SmartHome (06690) rising by 4.09%.
Jingu Finance | Home appliance stocks rise collectively, haier smarthome (06690) up 4.09%, tcl electronics (01070) up 3.56%, hisense ha (00921) up 2.19%, skyworth group (00751) up 1.53%, vesync (02148) up 1.02%. On the news front, CICC Securities said that from August to September, various provinces and municipalities have actively introduced policies for the renovation of old homes in the home furnishing sector. Compared to before, the policies introduced by various provinces and municipalities this round are more practical, 1) With regard to the amount, specific provisions have been made, and the subsidy ratio is generally limited to about 15% of the sales price, per unit product.
Společnost TCL Získala Na Veletrhu IFA 2024 Uznání Za Průlomové Inovace a Prestižní Ocenění V Oboru
[Hong Kong Stock Connect] TCL Electronics (01070) rose 3.5% in the afternoon. Institutions believe that domestic sales of household appliances are expected to improve positively.
Jingu Finance | TCL Electronics (01070) surged near midday, with the latest price at 4.73 Hong Kong dollars, up 3.5%, and a turnover of 10.5268 million Hong Kong dollars. On the news front, Guosen Securities stated that the operating environment of listed home appliance companies in Q2 24 has declined, but still achieved steady growth, with a 7.0% year-on-year increase in overall revenue in the first half of the year, and a 4.8% increase in Q2. Profitability continues to improve, with the net margin for the parent company in H1 and Q2 both increasing by 0.4pct, and the operational quality steadily optimizing. In the second half of the year, as the effects of the policy to replace old appliances with new ones continue to be released, the domestic sales of home appliances are expected to improve actively, while the overseas sales will follow the interest rate cut.
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