Midea Group(SZ:000333) Zheng Quan Ri Bao Wang·2025-08-01 13:48Group 1 - The National Development and Reform Commission has allocated 690 billion yuan for the third batch of subsidies for the old-for-new consumption policy, with plans to distribute another 690 billion yuan in October, completing the annual target of 3000 billion yuan [1] - The subsidies are specifically directed towards the home appliance sector, stimulating consumption potential and promoting both consumption and industrial upgrades [1] - The upcoming subsidies are expected to invigorate the home appliance market during the traditional peak sales season of "Golden September and Silver October" [1] Group 2 - Home appliance companies are proactively preparing for the new round of subsidies, with brands like Midea and Gree launching "pre-subsidy" campaigns to capture market share [2] - Sales of air conditioners at Suning increased by over 40% month-on-month in July, with 92% of sales being first-level energy efficiency products, indicating strong consumer demand [2] - The old-for-new policy is not only a short-term consumption stimulus but also drives companies to optimize product structures and accelerate technological iterations [2] Group 3 - The old-for-new policy has significantly boosted the consumption market, with 280 million people applying for subsidies, leading to over 1.6 trillion yuan in related sales [3] - Retail sales of home appliances and audio-visual equipment saw year-on-year growth of 30.7%, while retail sales of passenger vehicles increased by 10.8%, contributing to a 5% rise in total retail sales [3] - Two notable trends in the home appliance market include accelerated product iteration, with a 300% increase in subsidy applications for new categories like dishwashers and robotic vacuums, and a significant contribution from lower-tier markets [3] Group 4 - Ensuring the effectiveness of subsidies and preventing market irregularities are key concerns, with suggestions for dynamic price monitoring mechanisms to avoid "price hikes before subsidies" [4] - The fourth batch of subsidies is expected to further stimulate the consumption market in the third and fourth quarters, supporting the growth of home appliance retail sales and contributing to the overall economic recovery [4]