① The Housing and Urban-Rural Development Bureau of Changsha City recently issued a notice to various communities that it will launch a large-scale home appliance trade-in campaign throughout the city from April 20 to 21. The special subsidy is expected to invest 39 million yuan; ② Whether the government will grant Tongcheng Holdings a corresponding subsidy for this subsidy fund, the relevant person in charge of the company replied “I hope so”.
Financial Services Association, April 18 (Reporter Wu Weiling) Home appliances have been traded in and landed in many places. Changsha will also host its first special event this weekend.
The Housing and Urban-Rural Development Bureau of Changsha City recently issued a notice to various communities that it will launch a large-scale home appliance trade-in campaign throughout the city from April 20 to 21. The special subsidy is expected to invest 39 million yuan.
According to the “Notice on Publicity and Promotion” (< “助力搬迁安居圆梦千万补贴推动大规模家电以旧换新&50000台母婴洗衣机免费送” 活动> hereinafter referred to as the “Notice”) and the attached activity plan, the China Chamber of Commerce, the Changsha Municipal Bureau of Commerce, and Tongcheng Holdings (000419.SZ) will launch a special home appliance trade-in subsidy campaign this weekend. The subsidy is expected to invest 39 million yuan and the amount of subsidies is 26,600 units/set. It is used to subsidize products such as air conditioners, color TVs, refrigerators, washing machines, kitchen appliances, household appliances, mobile phones, water purification equipment, etc. The public can voluntarily participate and make purchases voluntarily.
After signing up in advance, residents of Changsha can go to 18 Tongcheng Electric stores in the Changsha area to buy at the weekend. The event promised that on the day of the special event, all products will be lower than the price of the official flagship store on the Internet, with a subsidy of at least 5% to 30% on top of the factory price. If you participate in the trade-in subsidy activity on this basis, you can enjoy a trade-in subsidy ranging from 100 to 1200 yuan. Details of some popular products that participated in the day's event were also listed as examples.
At noon today, a reporter from the Financial Services Association visited Tongcheng Electric's flagship store in Wujialing. The inside of the store was quite deserted. When the Financial Services Association reporter inquired about the aforementioned special event, the store clerks all said they had received the relevant notice. “There is no need to collect additional vouchers. You can sign up by scanning the QR code on the notice and come directly on the day of the event.” A staff member at the flagship store in Wu Jialing told the Financial Federation reporter.
Photo by a reporter from the Financial Federation of Tongcheng Electric's flagship store in Wujialing
A Financial Services Association reporter noticed that many of the appliances mentioned in the “Notice”, such as Hisense's 75-inch smart TV and Covos all-in-one washing and mopping robot, were not seen on site today. The store clerk advised that it would not affect normal sales on the day of the weekend special.
Judging from the strength of the discount, the back price of the subsidy voucher for some products is as low as 30% off the market price. For example, the market price of a certain brand's fingerprint smart lock is 1,699 yuan, and the price after the subsidy voucher is 499 yuan; in addition, the price after the iPhone 15 (256GB) subsidy voucher is 5,489 yuan, which is about 8.8 percent off the market price; there is also an embedded dishwasher, which drops the price from 4,999 yuan to 2,599 yuan after the subsidy.
It is worth mentioning that the “Notice” mentions that this special subsidy is estimated to invest 39 million yuan, and who will bear this funding is not explained in the document. In response, the Financial Services Association reporter asked Tongcheng Holdings. Will the financial side give the company a corresponding subsidy for this subsidy? The relevant person in charge of Tongcheng Holdings replied, “I hope so.”
A Financial Services Association reporter noticed that in addition to Changsha, many places have also announced specific subsidy methods and amounts. For example, Suzhou will launch the “Home Appliance Trade-In” consumer season on April 20, with a total subsidy of 20 million yuan; Nanjing plans to launch policy toolkits around the five areas of automobiles, home appliances, furniture, refined oil products, and finance to carry out “Spring Rejuvenation Season” trade-in consumption promotion activities.
Furthermore, at a meeting on mobilizing and deploying large-scale equipment upgrades and consumer goods trade-in work in Foshan, the person in charge of trade-in of Midea Group (000333.SZ) said that next, a full range of Midea home appliance brands will participate in the trade-in campaign to provide discounts to consumers through their own concessions and government support.