Zhi Tong Cai Jing·2026-01-02 06:23Group 1 - Home appliance stocks experienced a significant increase, with Skyworth Group rising by 10.45% to HKD 5.18, Midea Group increasing by 5% to HKD 89.2, Haier Smart Home up by 4.2% to HKD 25.3, and Hisense Home Appliances gaining 2.33% to HKD 23.72 [1] - The National Development and Reform Commission and the Ministry of Finance jointly issued a notice on December 30 regarding the implementation of large-scale equipment updates and the replacement of consumer goods by 2026, which is expected to positively impact the home appliance sector [1] - Dongfang Securities anticipates that the domestic sales pressure will improve in the first quarter of 2026 as national subsidy funds become available, and the industry will gradually enter a post-subsidy era [1] - Guotou Securities forecasts that the home appliance replacement policy will continue into 2026, with optimized support scope, subsidy standards, and implementation mechanisms, benefiting companies with R&D, channel, and brand advantages [1] - The easing of the US-China trade conflict is expected to reduce tariff pressures, allowing home appliance companies to gradually release global production capacity, with emerging markets contributing to incremental growth [1]