家电ETF（159996）盘中涨超2.1%，机构：行业利润有望修复

Group 1 - The home appliance industry is transitioning from a "mass manufacturing + mass distribution" model to a "brand manufacturing + efficient retail" model, driven by market maturity and increased competition [1] - Companies like Haier Smart Home are optimizing governance structures through capital operations, achieving cost reductions and accelerating smart home strategies [1] - After integration, Haier's sales expense ratio significantly decreased due to channel optimization, while management expense ratio steadily declined through a digital decision-making system, with overseas revenue now accounting for over 50% [1] Group 2 - The home appliance ETF (159996) tracks the home appliance index (930697), which includes listed companies involved in the manufacturing and sales of white goods and kitchen appliances, reflecting the overall performance of the home appliance sector [1] - The index exhibits strong consumer attributes and cyclical characteristics, providing a comprehensive view of the market trends in China's home appliance manufacturing industry [1]