Introduction to this report:
Online small appliances recovered, online Martian integrated stoves performed well, and copper and aluminum prices rose month on month.
Summary:
Online small appliances have recovered. Online small household appliances recovered, and dishwasher sales margin improved.
Dishwashers in kitchen appliances performed well, and online sales totaled+0.09% year on year. Health preserving pots and rice cookers have recovered, with cumulative sales of+7.35%/-0.77% year on year respectively. The online sales volume of the sweeping robot is+28.89% year on year. The offline sweeping robot performed well, with the cumulative offline sales of+7.14% year on year. The overall retail performance of various categories of offline household appliances is weaker than that of online appliances, and the overall retail sales have declined from the previous week.
The online Martian integrated cooker performs well. From the perspective of online brands, Haier Air Conditioner performs well in white electricity, and the cumulative market share of sales is+0.1pct month on month. The boss's range hoods and gas stoves performed well, and the cumulative market share of sales was+0.1 pct month on month; Martians in integrated stoves performed well, and the cumulative market share of sales volume was+0.8 pct month on month. Among the sweeping robots, Yunjing performs well, and the cumulative market share of sales is+0.8pct month on month.
Copper and aluminum prices rose month on month. On April 30, the average price of SHFE copper was 81600 yuan/ton, and the average price of SHFE aluminum was 20470 yuan/ton, which was+3.92% and+1.04% month on week respectively; As of April 30, 2024, the latest China Plastics Index is 892.26, and the latest WTI crude oil price is 82.81 dollars/barrel,+0.85% and -0.66% month on week respectively. Steel price increased by 0.16% month on month on April 19, April 26. Since 2024, the prices of SHFE copper, SHFE aluminum, plastics, steel and WTI crude oil have accumulated+17.99%,+5.19%,+6.89%, - 5.97% and+12.25%.
Investment suggestions: online small appliances have recovered, online Martian integrated stoves have performed well, and copper and aluminum prices have increased month on month. Recent financial reports have been intensively released, focusing on sweeper Shuangxiong Stone Technology and Covos. The valuation of big white TV is expected to continue to improve. In terms of individual stocks, it is recommended to research and develop the reinforced moat, stone technology (21.6X) with rapid growth in domestic sales, Haier Zhijia (15.0X) with high-end multi brand leading layout and efficiency optimization, No. 9 company WD (31.7X) with electric two wheeled vehicles expected to be rapidly scaled up, Midea Group (13.1X) with complete categories and profitability being repaired step by step, and central air conditioning developing steadily, Hisense home appliances (15.1X), the leader of laser display technology (15.6X), the leader of clean appliances (20.2X), and the traditional main businesses of Home Air and Ice Cleaning, which contributed to the performance elasticity, grew steadily, The TCL integration brought about the increment of Omar Appliances (13.1X), and the adjustment of domestic sales came to an end. The export of Xinbao Shares (12.1X) continued to recover, the export of Supor (19.5X) jointly promoted by the expansion of domestic sales categories and channels, and the rapid development of new energy vehicle heat management business in Dunan Environment (13.7X).
Risk warning: price fluctuation of raw materials; The recovery of the property is not as expected; Exchange rate fluctuations
