大消费行业周报（第一期）：板块迎政策催化，以旧换新效果明显

Investment Rating - The report indicates a positive investment outlook for the consumer sector, with all segments outperforming the CSI 300 index during the week of December 9-13, 2024 [14]. Core Insights - The central economic work conference held on December 12 emphasized the importance of boosting consumption and expanding domestic demand as key tasks for the upcoming year. It is expected that policies aimed at expanding domestic demand will improve the current consumption landscape, presenting long-term investment opportunities in the consumer sector [15]. - The "old-for-new" policy for household appliances has significantly boosted sales, with over 49 million units sold across eight product categories and sales exceeding 100 billion yuan. This initiative is anticipated to continue driving demand in the household appliance sector [15]. Summary by Sections Market Weekly Review - All consumer sectors outperformed the CSI 300 index, with notable increases in the retail, textile, and food and beverage sectors, with respective gains of 6.17%, 4.23%, and 2.01% [14]. - Leading stocks included Huifa Food (+60.97%), Shuaifeng Electric (+61.08%), and Zhongbai Group (+61.05%) [14]. Industry News and Key Company Announcements - Midea's new factory in Brazil, with an investment exceeding 700 million yuan, has commenced production, aiming for an annual capacity of over 1 million units [38]. - In November, online air conditioner sales reached 2.84 million units, a year-on-year increase of 12.8%, while offline sales surged by 67.6% [38]. - The Yunnan provincial government has expanded the scope of the "old-for-new" subsidy program to include additional furniture and home products, offering up to 20% subsidies on sales prices [41].