Core Viewpoint - The company indicates that multiple local governments have introduced trade-in subsidy programs, which are expected to boost consumer demand for new products, particularly through online platforms due to their relative convenience in participating in these subsidy policies [1] Group 1: Government Policies and Consumer Demand - The implementation of trade-in subsidy policies is anticipated to accelerate the growth of replacement consumption demand, especially in online sales channels [1] - Offline store demand is also expected to benefit from these policies, although there may be a delay in the transmission of sales from distributors to the company [1] Group 2: Sales Structure and Product Penetration - The current online sales situation suggests that the subsidy policies will positively impact the improvement of product sales structure and the penetration rate of smart toilets [1] Group 3: E-commerce and Market Opportunities - The company plans to continue increasing its investment in new e-commerce channels to further promote the development of its e-commerce business [1] - In the engineering channel, the company will focus on exploring opportunities in niche markets such as education, healthcare institutions, enterprises, hotels, and government projects while strictly controlling accounts receivable risks [1]
箭牌家居：以旧换新补贴政策对于智能马桶渗透率的提升将产生积极影响