Tianfeng Securities released a research report stating that since the beginning of the year, it has always insisted on judging the good performance of “white electronic+export” chain companies. Looking ahead to the second quarter, we will continue to be optimistic about stable assets represented by Baidian and export chain companies represented by independent brands. Currently, export sales of home appliances are booming. At the same time, they are optimistic that the domestic “trade-in” policy is gradually taking effect. Joint efforts for trade-in are being formed in terms of both publicity and subsidies, which is conducive to stimulating a large stock market (the estimated inventory of empty ice washers is close to 2 billion units, and the renewal cycle has clearly been longer than 10 years). In addition, it is recommended to focus on historically low levels dominated by domestic demand, such as Covos (603486.SH), Jimi Technology (688696.SH), and the kitchen electronics sector.
天风证券：家电外销景气度较高 政策起效或激发较大存量市场
Tianfeng Securities: The export market for home appliances is booming, and the policy is effective or stimulates a large stock market
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