Investment Rating - The industry investment rating is "Recommended (Maintain)" [1] Core Viewpoints - The report continues to favor the black appliance sector, highlighting the operational and performance turning point for leading companies like Hisense and TCL, driven by domestic demand and long-term overseas market share growth [3][26] - It recommends white appliance leaders such as Haier, Midea, Gree, and Hisense, which have solid fundamentals and attractive dividend attributes [3][26] - The report emphasizes the upcoming product launches from companies like Roborock and Ecovacs in March 2025, indicating potential growth opportunities in the market [3][26] Price Tracking - In week 25 of 2025, copper prices increased by 1.17% to an average of 77,180 CNY/ton, while aluminum prices rose by 1.10% to 20,530 CNY/ton [6][8] - ABS prices decreased by 0.77% to 11,660 CNY/ton, and hot-rolled coil prices fell by 1.18% to 3,673 CNY/ton [6][8] - Global panel prices for 65", 55", 43", and 32" increased by 0.57%, 0.80%, 1.56%, and 1.43% respectively [9][15] Real Estate Market Insights - In week 25 of 2025, the transaction area of residential properties in 30 major cities increased by 122.69%, reaching 1,015,700 square meters, a significant rise of 1,019.85% compared to week 5 of 2025 [20]
家用电器行业周报：石头机械手新品G30 SPACE国内预售开启，关注后续扫地机终端动销
兴业证券·2025-02-18 02:00