轻工行业政策点评：一线城市优化限购政策，全面促进地产止跌回稳

Investment Rating - The report suggests a positive outlook for the home furnishing sector, indicating a potential recovery in the market due to recent policy adjustments [3][8]. Core Insights - The recent adjustments in housing purchase restrictions in major cities like Shanghai, Shenzhen, and Guangzhou are expected to boost market confidence and stimulate demand in the real estate sector [3]. - The report emphasizes the importance of the home furnishing sector as a beneficiary of the real estate market's recovery, highlighting government initiatives aimed at stabilizing the market and promoting consumption [3]. - The report recommends focusing on leading companies in the custom home furnishing sector, such as Oppein Home (603833.SH) and Kuka Home (603816.SH), as well as other strong brands in the mattress and home furnishing industry [3]. Summary by Sections Policy Adjustments - On September 29, 2024, major cities announced significant changes to housing purchase policies, with Guangzhou being the first to completely lift all restrictions on home purchases for residents [3]. - Shanghai and Shenzhen also implemented various optimizations to their housing policies, including adjustments to loan policies and purchase qualifications [3]. Market Outlook - The report indicates that the government's focus on stabilizing the real estate market and promoting consumption will likely lead to a recovery in the home furnishing sector [3]. - The introduction of long-term special bonds to stimulate consumer spending is expected to release pent-up demand in the home furnishing market [3]. Investment Recommendations - The report recommends investing in companies with strong supply chain efficiency and management capabilities, such as Oppein Home and Kuka Home [3]. - It also suggests monitoring other leading brands in the mattress and home furnishing sectors, including Mousse (001323.SZ) and Juran Home (000785.SZ) [3].