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Government and corporate stimulus measures are frequent, and the domestic home appliance consumer market is heating up.
Hong Kong stocks fell below 18,000 points
auto, real estate sector dropped
overnight US stocks three major indexes collectively closed down. Affected by this, Hong Kong stocks continued to adjust after opening lower in early trading. Hang Seng Index fell below 18,000 points again in early trading. As of noon closing, Hang Seng Index fell 1.13% to 17809.4 points; Hang Seng Technology Index fell 2.8%.
Consumer stocks fell sharply, with new energy vehicles leading the decline. Among them, ideal car plunged 16.12%, and its market value evaporated by 30 billion Hong Kong dollars. Weilai fell nearly 9%, Xiaopeng Motors fell nearly 7%, Great Wall Motor , BYD fell more than 5%. The Bank of Communications Research Report pointed out three disadvantages of the ideal car: first, the ideal relies on the extension of the program, which is not in line with the general trend of pure electric; second, the license of the new energy vehicle with the extension of the program has been cancelled in some areas; third, the sales of L9 restricts the user group. The
real estate sector continued to be under pressure, with CIFI Holdings leading the decline in real estate, down 15.28%, and Country Garden tumbled 11.11%.
Kingsoft fell 12.31%. The company announced that after considering the proposed impairment provision, it is expected that the group will make a significant loss for the nine months ended September 30, 2022. With regard to the proposed provision, the Board wishes to stress that this accounting treatment will not have any impact on the Group's cash flow and operating results. All in all, the Group continued to maintain a healthy net cash balance to support its operating and investing activities.
CICC said that at present, the Hong Kong stock market is more vulnerable to external market fluctuations and the devaluation of the renminbi. In the medium term, CICC's strategy judges that the market reversal may depend on the realization of the following two factors. First, the Fed slows down the pace of interest rate hikes; second, there is clearer evidence that China's economic growth is getting out of the trough.
Policies are frequently introduced
Holiday home appliance consumer market picks up
During the November long holiday, the domestic home appliance consumer market continues to heat up. On October 4, the JD.com Consumer and Industrial Development Research Institute released the "11th Holiday Consumption Insight Report", showing that this holiday, many people choose to stay at home for leisure, and add new items to their homes, driving the rapid growth of home appliance consumption. According to
data, from October 1st to 3rd, smart home appliances, kitchen appliances and other improved commodities saw the most obvious growth, and quality, intelligent and refined products became the main direction of household consumption upgrades. The consumption of shoe washing machine increased by 7 times year-on-year, and the dryer, floor washing machine and so on also achieved about 3 times growth. The kitchen is an important life scene, and related categories have grown rapidly. The average year-on-year growth rate of kitchen supplies such as electric juicer cup, air fryer , coffee machine, noodle maker is more than 50%.
In terms of policy, from October 1st, Shanghai began to implement a subsidy policy to promote the consumption of green smart home appliances. Subsidized products include air conditioners, refrigerators (including freezers), washing machines (including clothes dryers ), televisions, water heaters (including wall-hung furnaces ), range hoods , gas stoves (including integrated stoves) and dishwashing 8 categories of machines. Consumers can enjoy an instant discount of 10% of the transaction price after excluding all discounts, up to a maximum of 1,000 yuan, and the total subsidy fund is 200 million yuan.
recently issued "Several Measures for Guangdong Province to Increase Efforts to Continue to Promote Consumption", which comprehensively promotes the consumption of household appliances through "government support and enterprise promotion". Since the National Day holiday, Guangdong Province has launched a new round of consumer coupon issuance activities and home appliance "trade-in" activities to help online and offline consumption continue to pick up. Statistics show that 21 prefectures and cities in the province issued 350 million yuan of consumer coupons in this round, and the subsidy amount of home appliances trade-in in various places exceeded 150 million yuan.
Many home appliance companies have also launched subsidy programs one after another. September 30, Gree Electric announced that it will carry out the "Golden Autumn Swap Season" trade-in welfare activity during the 11th period, and any brand of air conditioners, washing machines and refrigerators can participate; Midea Group will distribute green renewing subsidy coupons with a total price of over 100 million yuan across the country. The purchase of designated models of green smart home appliances can be directly deducted, and can be used in combination with other discounts.
A number of home appliance stocks have received high attention from institutions.
17 stocks have a bullish space of more than 40%. It is believed that the favorable home appliance policy is frequent, and the price of upstream raw materials has dropped significantly recently. With the easing of the epidemic, the profitability of enterprises is expected to improve in the second half of the year.
Securities Times ·Databao statistics A-share market home appliance industry, among the stocks that 10 or more institutions are concerned about, there are as many as 13 rating agencies with more than 30 , accounting for nearly 50%. Veteran home appliance giants Midea Group, Robam Appliances , and Haier Zhijia ranked among the top three; smart home appliance leaders also received high attention, XGIMI Technology and Stone Technology were rated by 35 institutions.
Affected by the overall decline of the market in the third quarter, the stock prices of listed companies generally performed poorly, with 28 stocks down by nearly 15% on average, and nearly 80% of the stocks down by more than 10%. Stone Technology, Ecovacs , and Yitian Smart led the decline, with a retracement of more than 40%. Many individual stocks have fallen out of considerable bullish space from their institutional target prices. The current share price of 17 stocks has a 40% upside from their institutional target prices. The bullish space of XGIMI Technology is over 100%, and the bullish space of Stone Technology and Yitian Intelligence is also higher than 80%. In terms of
's performance, the agency expects that Skyworth Digital 's annual net profit is expected to double, and Dun'an Environment and Deye Shares may achieve a high growth rate of more than 90% year-on-year. In addition, Robam Electric , whose performance declined slightly in the first half of the year, is also optimistic about the institution. It is expected that the net profit for the year will increase by 51.05% year-on-year.
statement: All the information content of Databao does not constitute investment advice, the stock market is risky, and investment should be cautious. Responsible editor of
: Lin Lifeng
proofreading: Gaoyuan
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data treasure (shujubao2015): Securities Times Smart Original Innovation Media.
