国投家电一周看图：双11活跃开启有望拉动家电需求

Investment Rating - The industry rating is "Outperforming the Market - A" [2] Core Viewpoints - The upcoming Double Eleven shopping festival is expected to boost domestic demand for home appliances, with e-commerce platforms starting their promotions earlier than last year [2] - Increased price discounts and the combination of government subsidies for replacing old appliances are anticipated to enhance consumer purchasing power [2] Summary by Sections Double Eleven Activities - E-commerce platforms like JD.com and Tmall have initiated their Double Eleven activities earlier this year, with JD.com starting on October 14 and Tmall on the same date [3][6] - JD.com has increased its discount offerings, including a new promotion of 20 yuan off for every 200 yuan spent, compared to last year's 50 yuan off for every 299 yuan spent [3] Company Performance - Gree Electric Appliances is projected to have a revenue growth of 4% in 2024, while Midea Group is expected to grow by 9% [24] - Haier Smart Home anticipates a revenue increase of 6%, and Hisense Visual is expected to grow by 8% [24] - In the U.S. market, iRobot is projected to see a revenue decline of 13%, while Whirlpool expects a decrease of 14% [25] - In the European market, Electrolux is expected to have a revenue decline of 1%, while Cyber is projected to grow by 3% [26] Market Trends - The report highlights a significant increase in home appliance sales during the Double Eleven period, driven by early promotions and enhanced discounts [2] - The overall sentiment in the home appliance industry remains positive, with expectations of growth in both domestic and international markets [2][24]