Group 1: Domestic Market Performance - The retail sales of home appliances have maintained double-digit growth for eight consecutive months from September 2024 to April 2025, with a year-on-year increase of 38.8% in April 2025, leading among 16 categories of consumer goods [1] - The central government's "trade-in" policy has expanded from 8 to 12 categories, significantly reducing consumer costs by up to 40% [1] - Traditional categories like air conditioners and refrigerators are experiencing slower growth compared to emerging categories such as floor washing machines and robotic vacuums, which saw online sales increase by 82% and 81% respectively in April [1] Group 2: Export Market Dynamics - In April, the overall export value of home appliances from China was $8.7 billion, a slight decrease of 2.9% year-on-year, with exports to the U.S. dropping by 21% [2] - Emerging markets in Southeast Asia, Africa, and Latin America are showing growth, with export values increasing by 21%, 25%, and 17% respectively [2] - Chinese home appliance companies are establishing production bases in Southeast Asia, enhancing their market presence and competitiveness against Japanese and Korean brands [2] Group 3: Company Financial Performance - Midea Group reported total revenue of 409.1 billion yuan in 2024, a year-on-year increase of 9.5%, with overseas revenue accounting for over 40% [3] - Haier Smart Home achieved revenue of 286 billion yuan in 2024, with overseas markets contributing over half of its total revenue [3] - The home appliance sector is expected to continue benefiting from domestic subsidies and emerging market growth, with leading companies poised for significant performance improvements [3] Group 4: Market Index Performance - The Xinhua Consumption Overseas Index rose by 1.39% in the week of May 23, driven by demand from the "618" shopping festival and positive market sentiment towards AI commercialization in the home appliance sector [4]