According to the Securities Times app, home appliance stocks rose in the afternoon. As of the press time, Hisense Ha (00921) rose by 4.83% to HKD 26.05; Midea Group Co., Ltd (00300) rose by 3.5% to HKD 72.5; vesync (02148) rose by 2.07% to HKD 3.94; Haier Smarthome (00669) rose by 0.83% to HKD 109.2.

The Pacific Securities pointed out that the sales volume of home appliances temporarily ranked first in the 'November 11' national network. The debut performance on Douyin platform is impressive. The company mentioned that with the support of national and local subsidies for trading in old appliances for new ones, this year's discounts for home appliances during the 'November 11' festival may be stronger than in previous years. This is expected to enhance the promoting effect on terminal sales, thus potentially giving a bullish outlook on the income performance of home appliance companies in 2024 Q4. Leading companies in the major home appliance sector are expected to benefit first.

GTJA pointed out that it is expected that by mid-November 2024, national funding utilization for trading old appliances for new ones will reach 70%. Taking into account the subsidy funding utilization progress disclosed by various local authorities and the sales growth of home appliance categories in various provinces, it is predicted that areas where subsidies were implemented later and had lower fund utilization will accelerate in Q4: expanding categories or further opening up online channels. Furthermore, from a publicity perspective, consumers who are aware of and participate in the national subsidies will gradually shift from first- and second-tier cities to third- and fourth-tier cities. The vast lower-tier market owns a large stock of home appliances with longer usage periods, which will subsequently drive the release of demand for replacement in the future stages.