This week's topic: industry online data tracking. On the whole, in 2021, China's domestic demand for household appliances stabilized and exports continued to grow. In 2021, due to the weak domestic market demand of China's household air conditioners and the channel reform of leading enterprises, the growth rate of domestic sales of household air conditioners in the whole year was lower than expected; The production and sales volume of the refrigerator industry increased slightly, of which the domestic market was relatively stable and the overseas demand was large, driving the export to become the main driving force for the development of the industry; The production and sales of washing machines have increased, of which domestic and foreign sales have shown a good growth trend; The production and sales volume of range hoods have increased compared with last year, of which the domestic sales have remained stable, and the high export demand has driven the overall sales growth. The head enterprises have realized the continuous increase of domestic export volume by virtue of brand bonus and scale advantages; Under the dual pressure of rising panel prices and saturated demand, China's color TV market is in a downturn as a whole, and the production and sales volume has declined to a certain extent compared with the previous two years.
Investment strategy in 2022: clear the clouds and see the end of the day. Sometimes, the willow is dark and the flowers are bright and the spring is coming. We are firmly optimistic about raw materials and real estate. Under the background of marginal easing, the breakdown leader of household appliances will accelerate the breakthrough. (1) White power: it is suggested to pay attention to the Haier Smart Home Co.Ltd(600690) of Casati's high-end leadership, "three winged bird" traffic front and the competitiveness improvement of globalization strategy, and the white power leader Midea Group Co.Ltd(000333) of diversified and global development; (2) Kitchen electricity: it is suggested to pay attention to the steady development of traditional business, the Hangzhou Robam Appliances Co.Ltd(002508) of dishwasher and other businesses with rapid development, as well as Marssenger Kitchenware Co.Ltd(300894) and Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) benefiting from the high prosperity of the industry and accelerated channel expansion; (3) Small household appliances: the industry demand of kitchen small household appliances is expected to pick up in 2022, and the superimposed cost pressure is weakened year-on-year, resulting in strong performance elasticity. It is suggested to pay attention to Zhejiang Supor Co.Ltd(002032) , Joyoung Co.Ltd(002242) , Guangdong Xinbao Electrical Appliances Holdings Co.Ltd(002705) ; Clean electrical appliances such as floor washer and sweeping Siasun Robot&Automation Co.Ltd(300024) are expected to grow steadily due to consumption upgrading, but the short-term chip and shipping problems suppress the valuation of the sector to a certain extent. It is recommended to pay attention to Beijing Roborock Technology Co.Ltd(688169) , Ecovacs Robotics Co.Ltd(603486) , Kingclean Electric Co.Ltd(603355) ; Intelligent projection is recommended to pay attention to Chengdu Xgimi Technology Co.Ltd(688696) . (4) Electrician lighting: focus on Gongniu Group Co.Ltd(603195) of intensive cultivation of channels and products and Opple Lighting Co.Ltd(603515) of rapid development of commercial lighting business.
This week's market: this week, the Shanghai Composite Index fell 4.57%, and the home appliance industry fell 5.53%, slightly losing the market. Among them, white electricity fell 5.15%, black electricity fell 2.97%, kitchen electricity fell 6.95%, small household appliances fell 6.99%, lighting electricians and other sectors fell 9.39%. As for the shareholding ratio of Shanghai (Shenzhen) stock connect, as of Friday, Midea Group Co.Ltd(000333) Shanghai and Shenzhen Stock connect accounted for 16.9%, down 0.11pct from last week; Gongniu Group Co.Ltd(603195) Shanghai and Shenzhen Stock connect accounted for 17.88%, down 0.12pct from last week; Gree Electric Appliances Inc.Of Zhuhai(000651) Shanghai and Shenzhen Stock connect accounted for 10.81%, down 0.02pct from last week; Joyoung Co.Ltd(002242) Shanghai and Shenzhen Stock connect accounted for 11.71%, down 0.06 PCT from last week; Hangzhou Robam Appliances Co.Ltd(002508) Shanghai and Shenzhen Stock connect accounted for 9.5%, down 0.15pct from last week; Haier Smart Home Co.Ltd(600690) Shanghai and Shenzhen Stock connect accounted for 10.83%, down 0.1pct from last week. In terms of individual stocks, the top three gainers in the household appliance industry this week were Chengdu Xgimi Technology Co.Ltd(688696) (6.37%), Zhejiang Goldensea Hi-Tech Co.Ltd(603311) (0.7%) and Haili B shares (0.4%); The top three declines were Xiamen Guang Pu Electronics Co.Ltd(300632) (- 21.65%), Bear Electric Appliance Co.Ltd(002959) (- 19.44%) and Kennede Electronics Mfg.Co.Ltd(002723) (- 17.68%).
One week key data tracking: the price of galvanized sheet coil (0.5mm) this week is 5859 yuan / ton, up 2 yuan / ton from last week; The price of galvanized sheet coil (1.0mm) this week is 5726 yuan / ton, the same as last week; The price of copper (1#) this week is 70600 yuan / ton, down 550 yuan / ton from last week; The price of aluminum (A00) this week is 21640 yuan / ton, up 300 yuan / ton from last week; The price index of China plastic city was 993.6 this week, up 2.6 from last week.
Risk warning: the price of raw materials fluctuates sharply; Risk of sluggish terminal demand; Exchange rate fluctuation risk.
