Orient Securities Research Report pointed out that focusing on the three major investment directions of the home appliance industry: 1. Subsequent domestic trade-in policies and overseas interest rate cuts are also expected to provide beta elasticity, compounding the current undervaluation and high dividend characteristics. It is recommended to focus on: Midea Group, Haier Smart Home, etc.; 2. Clean appliances and black electricity account relatively high overseas, and independent brands are entering a period of rapid expansion. The share continues to increase. The superposition product structure continues to be optimized, showing outstanding growth. It is recommended to focus on: Stone Technology, Hisense Video, etc.; 3, Active; Export-oriented companies seeking expansion from overseas customers, Recommended attention: Osun Electric, etc. Furthermore, in the medium term, I am optimistic about the ability of leading domestic home appliance segments to extend their endowments to overseas markets, thereby contributing to the second growth curve. It is recommended to focus on: **** Electric, Feike Electric, etc.