2026-01-28 02:20Summary of Conference Call Notes Industry Overview - The focus is on the home appliance industry, particularly on undervalued stocks following a period of high growth, with expectations that funds will favor these low-value targets in the near term [1] Core Insights and Arguments - Market Expectations: The high base from Q4 2025 has been fully digested, leading to a stable outlook for Q1 2026, with production data remaining flat compared to a slight decline in Q4 2025 [1] - Performance Metrics for Key Companies: - Midea A: Expected net profit growth of +10%, with a Price-to-Earnings (PE) ratio of 11.7X and a dividend yield of 5.9% [1] - Haier A: Expected net profit growth of +10%, with a PE ratio of 10.5X and a dividend yield of 5.2% [1] - Gree: Net profit expected to remain flat, with a PE ratio of 6.9X and a dividend yield of 7.5% [1] - AUX: Assuming a net profit of 2.6 billion for 2026, with a PE ratio of 7.3X and a dividend yield of 10% [1] - Hisense Home Appliances: Expected net profit growth of +6%, with a PE ratio of 9.9X and a dividend yield of 5% [1] - Hisense Visual: Expected net profit growth of +13%, with a PE ratio of 11.4X and a dividend yield of 4.5% [1] - TCL Electronics: Expected net profit growth of +23%, with a PE ratio of 11.2X and a dividend yield of 4.5% [1] - Yadea: Expected net profit growth of +15%, with a PE ratio of 10.5X and a dividend yield of 4.8% [1] - Aima: Expected net profit growth of +15%, with a PE ratio of 9.9X and a dividend yield of 5% [1] Additional Important Points - The overall sentiment indicates a favorable environment for investment in the home appliance sector, particularly for companies with strong fundamentals and attractive valuations [1]