Guotai Junan Securities has released a research report stating that the home appliance sector still has allocation value: since the beginning of the year, the home appliance sector has shown a significant increase, which is influenced by both fundamental factors and style catalysts. At present, some investors are worried that changes in external factors may put pressure on the fundamentals of the home appliance industry, thereby affecting the sector's returns. The team believes that compared to other sectors, home appliance companies have operating stability (high industry concentration), higher dividend yields (abundant cash flow, no major capital expenditures), and verified overseas expansion logic, which gives them a comparative advantage. The home appliance sector still has long-term investment value.