家电行业周报（2024W45）：双十一收官，多公司发布战报

Investment Rating - Industry rating: Recommended [6] Core Viewpoints - The home appliance sector experienced a weekly decline of 1.95% from November 11 to November 15, 2024, with cumulative growth of 30.48% year-to-date [27][28] - Key players in the home appliance market, such as Midea Group, Haier Smart Home, and Hisense, are expected to benefit from the "old-for-new" policy as the white goods industry matures [5][26] Summary by Sections Investment Recommendations - Focus on three areas: 1) Domestic "old-for-new" policy implementation, benefiting stable cash flow companies like Midea Group and Haier Smart Home [5][26] 2) Export chain, particularly for high-demand products like robotic vacuums from Stone Technology, which has seen significant overseas growth [5][26] 3) Tool sector, anticipating a recovery in demand as inventory levels normalize and U.S. interest rates drop, with companies like Juxing Technology and Quanfeng Holdings poised for growth [5][26] Market Data - Home appliance sector weekly performance: - White goods: -1.00% - Black goods: -4.14% - Small appliances: -2.70% - Kitchen appliances: -0.59% - Year-to-date performance: - White goods: +40.34% - Black goods: +49.60% - Small appliances: +0.72% - Kitchen appliances: +15.32% [27][28] Key Developments - Stone Technology achieved top rankings in both cleaning appliances and washing machines during the Double Eleven sales event, with significant sales growth across various platforms [3][56] - XGIMI reported over 210,000 units sold and a GMV exceeding 700 million during the same sales period, leading the home projector category [4][61]