家用电器：2024年5月消费金股推荐

Investment Rating - The report maintains an "Outperform" rating for the industry [2][5]. Core Views - The report highlights key stock recommendations across various sectors, including Haier Smart Home in home appliances, Sun Paper in light industry, Taiji Group in pharmaceuticals, Lao Baigan Liquor in food, Juzibio in trading, Shandong Pharmaceutical Glass in building materials, and Hai Da Group in agriculture [2][5]. Summary by Relevant Sections Home Appliances - Haier Smart Home's Q1 2024 performance exceeded expectations, benefiting from the old-for-new policy and improvements in its premium brand Casarte and overseas markets. The company is expected to maintain rapid growth in domestic sales, with projected EPS of 2.0 CNY and 2.3 CNY for 2024 and 2025, respectively, and is rated "Buy" [5][13]. Light Industry - Sun Paper is expected to maintain a weak balance in the cultural paper market, with stable prices and quality. The company's integrated operations and cost management are anticipated to enhance profitability, with projected EPS of 1.36 CNY and 1.52 CNY for 2024 and 2025, respectively, rated "Buy" [6][13]. Pharmaceuticals - Taiji Group, a leader in OTC traditional Chinese medicine, focuses on modern manufacturing and specialty drugs. The company is expected to benefit from an aging population and favorable policies, with projected EPS of 1.98 CNY and 2.52 CNY for 2024 and 2025, respectively, rated "Buy" [7][13]. Food - Lao Baigan Liquor is positioned well in the growing regional market, with strong performance in Q1 2024. The company is expanding its brand nationally, with projected EPS of 0.98 CNY and 1.23 CNY for 2024 and 2025, respectively, rated "Buy" [8][13]. Trading - Juzibio is focusing on skin solutions and expanding its product lines. The company is expected to see growth from new product launches, with projected EPS of 1.77 CNY and 2.27 CNY for 2024 and 2025, respectively, rated "Buy" [9][13]. Building Materials - Shandong Pharmaceutical Glass is expected to see continued growth in borosilicate glass demand and profitability. The projected EPS is 1.53 CNY and 1.85 CNY for 2024 and 2025, respectively, rated "Buy" [10][13]. Agriculture - Hai Da Group reported strong Q1 2024 profits, with expectations for growth in feed sales and pig farming. The projected EPS is 2.43 CNY and 3.08 CNY for 2024 and 2025, respectively, rated "Buy" [11][13].