家电2024年双十一系列跟踪（三）：家电销额和增速平台第一，以旧换新8类家电销售环比翻倍

Investment Rating - The report maintains a "Positive" outlook for the home appliance industry, expecting overall returns to exceed the CSI 300 Index by more than 5% in the next six months [9]. Core Insights - During the 2024 Double Eleven shopping festival, the total sales of home appliances reached CNY 193 billion, reflecting a year-on-year increase of 26.5%, leading both sales volume and growth rate on the platform [8]. - The "old-for-new" subsidy policy significantly boosted sales, with 20.25 million people purchasing 30.458 million units of eight categories of home appliances, generating sales of CNY 137.79 billion, with sales volume and revenue both doubling compared to the previous month [5]. - The report highlights that major brands such as Haier, Midea, Xiaomi, and Little Swan ranked among the top five in sales on platforms like Tmall and JD during the Double Eleven event [4]. Summary by Sections Sales Performance - The overall online sales during the Double Eleven reached CNY 1,441.8 billion, a 26.6% increase, with e-commerce platforms accounting for CNY 1,109.3 billion of that total, growing by 20.1% [4]. - Live-streaming e-commerce sales surged to CNY 332.5 billion, marking a 54.6% increase [4]. Category Analysis - The eight major categories of home appliances saw sales volume and revenue both double compared to the previous month, driven by significant platform discounts and the "old-for-new" policy [5][6]. - The report suggests that the "old-for-new" policy will continue to positively impact sales in Q4 2024, particularly benefiting leading companies in the major appliance sector [6]. Recommended Companies - The report recommends focusing on the following companies: 1. White Goods: Midea Group, Haier Smart Home, Gree Electric, Hisense Home Appliances 2. Black Goods: TCL Electronics, Hisense Visual 3. Kitchen Appliances: Boss Appliances, Mars Man [6].