According to data from the State Taxation Administration, during the Lunar New Year holiday, driven by the national subsidy policy, the sales of Consumer Electronics, including mobile phones and Asia Vets, nearly doubled year-on-year.
According to the Zhitung Finance APP, Credit Lyonnais has released a research report stating that AAC TECH (02018), BYD Electronics (00285), SUNNY OPTICAL (02382), XIAOMI-W (01810), and LENOVO GROUP (00992) are expected to continue benefiting from the national trade-in subsidy policy, all receiving an "outperform the market" rating.
The report stated that data from the State Administration of Taxation shows that during the Lunar New Year holiday, driven by the national subsidy policy, sales of consumer electronics, including smartphones and smartwatches, increased nearly twofold year-on-year. The bank indicated that the policy also boosted household appliance consumption during the Lunar New Year holiday, with data showing that sales of household appliances and audiovisual equipment also rose by 166.4% year-on-year, of which Television sales increased by 226.8%.
