“后国补”时代，华帝多维发力，引领厨电高端化浪潮

Core Insights - The "National Subsidy" policy is expected to support resilient growth in the home appliance market, with the third batch of funds amounting to 69 billion yuan already allocated and a fourth batch on the way [1] - Key focus areas for brands in the home appliance sector include product upgrades, offline experience innovation, service enhancements, and instant retail to thrive in the second half of the subsidy policy [1] Company Strategy - Vatti has positioned itself as a leader in the high-end kitchen appliance market by integrating "fashion" and "cleanliness" into its product offerings, exemplified by its "Clean Kitchen" initiative [3] - The company has achieved significant market share, holding 37.17% of the online ultra-thin range hood market as of February 2024, maintaining its top position for two consecutive years [3] - Vatti's recent product launches, including the "Beauty Bath" water heater and "World Health Steam Oven Master," focus on health and skincare, catering to the needs of elite consumers [3][4] Market Positioning - Continuous optimization of product structure has strengthened Vatti's influence in the high-end market, establishing a perception that "high-end equals Vatti" [4] - The company has transformed its offline stores into experiential centers, enhancing customer engagement through innovative design and interactive spaces [6] Service Innovation - Vatti recognizes the shift from market growth to service competition, emphasizing user satisfaction as the primary criterion for service excellence [8] - The company has implemented a comprehensive service model, the "330 service," which includes pre-sale, in-sale, and post-sale services, with 30 distinct service offerings [9] Marketing Strategy - Vatti has launched the "Ten Thousand Stores Navigation" project to innovate offline marketing, introducing mobile specialty stores to engage directly with communities [10] - As of May 2025, Vatti's community marketing initiatives have successfully conducted 1,105 events, achieving a sales rate of 65.33% and a customer engagement rate of 82.27% [10]