Zheng Quan Shi Bao Wang·2025-05-23 01:12Group 1 - The National Market Supervision Administration is promoting the update of old residential elevators through a new policy, ensuring safety and quality in elevator products [1] - The policy includes measures for funding sources, maintenance and update methods, and implementation timelines, which are expected to invigorate the elevator service market [1] - The focus is on encouraging elevator manufacturers to take responsibility for producing high-quality and reasonably priced elevator products [1] Group 2 - The aging of elevators in China is anticipated to drive the demand for updates, with policies and funding increasingly favoring elevator renewal [2] - As of 2023, the number of elevators in China has surpassed 10 million, indicating potential for growth in per capita elevator ownership compared to developed countries [2] - The domestic elevator manufacturers are expected to see improved business models and free cash flow, with valuations likely aligning more closely with overseas leading companies [2]