太平洋证券：以旧换新补贴政策或将持续促进家电行业四季度终端销售

Core Viewpoint - The "trade-in" policy is expected to boost the sales growth during the "Double 11" shopping festival, positively impacting the performance of the home appliance sector in Q4 2024 [1] Group 1: Market Impact - The "trade-in" subsidy has enhanced the promotional effect of the "Double 11" on terminal sales, leading to an improvement in total sales growth compared to the previous year [1] - This improvement is anticipated to benefit the revenue performance of home appliance companies in Q4 2024, particularly for leading companies in the major appliance category [1] Group 2: Company Recommendations - Recommended companies in the white goods sector include Midea Group and Haier Smart Home [1] - Recommended companies in the black goods sector include TCL Electronics and Hisense Visual Technology [1] - Recommended companies in the kitchen appliance sector include Robam Appliances and Mars Man [1]