Last week, the CSI 300 index fell 2.14%, and the Changjiang household appliance index fell 2.50%, underperforming the CSI 300 index by 0.36pct. In terms of segments, last week, Changjiang white appliances, kitchen and bathroom appliances, small appliances, black appliances and lighting equipment were -3.36% / – 1.46% / 2.76% / – 0.50% / – 2.04% respectively.
Sub section core data tracking:
White appliances & color TV: according to the 12 week data of ovicloud, the offline retail sales of air conditioners, refrigerators and washing machines decreased by 29.23%, 5.01% and 14.95% respectively year-on-year; The online retail sales of air conditioners, refrigerators and washing machines decreased by 10.25%, increased by 30.91% and 14.04% respectively year-on-year; Color TV offline channels fell 4.85% year-on-year, and online channels fell 4.50% year-on-year.
Kitchen appliances: according to the 12 week data of ovicloud, the retail sales of range hood offline channels fell by 6.59% year-on-year, and the retail sales of online channels increased by 9.19% year-on-year; The offline retail sales of gas stoves decreased by 4.45% year-on-year, and the online retail sales increased by 3.51% year-on-year; The offline retail sales of integrated stoves increased by 28.88% year-on-year, and the online retail sales increased by 24.16% year-on-year; The offline retail sales of gas water heater decreased by 11.68% year-on-year, and the online retail sales increased by 4.73% year-on-year.
Small household appliances: according to the 12 week data of ovicloud, the retail sales of dishwashers, rice cookers, cooking machines, health pots, wall breaking machines and floor sweepers Siasun Robot&Automation Co.Ltd(300024) offline channels increased by 23.56%, 23.18%, 33.73%, 35.19%, 32.88% and 20.18% respectively year-on-year; Online channel retail sales increased by 24.82%, decreased by 26.08%, decreased by 33.87%, decreased by 33.40%, decreased by 26.38% and increased by 7.69% respectively year-on-year.
Investment advice
New products of emerging household appliances emerge one after another. Following dangbei, Epson and fengmi, recently, Hisense Visual Technology Co.Ltd(600060) officially announced that it would launch the first laser intelligent projection product. According to the announcement on receiving investors disclosed by the company, the industry’s first pure three-color laser high-quality 4K portable intelligent projection is expected to be officially released this year. The products closely focus on the life circle of young people and meet the high-quality audio-visual needs of young groups; In addition, Hisense’s first new laser TV in 2022 was unveiled at JD l5g new product launch. L5g continues the advantages of Hisense’s laser TV in large screen video and audio, meets the DLP technology of Hollywood cinema digital projection standard, and brings a cinema level immersion experience more shocking than traditional TV with dtsvirtual as standard in IMAX cinema. In addition, last week Beijing Roborock Technology Co.Ltd(688169) released the annual flagship product g10s series, which integrates five core functions: automatic mop washing, automatic dust collection, automatic water replenishment, automatic bacteriostasis and base station self-cleaning. Moreover, the modular base station can also be equipped with automatic water change and automatic drying functions.
Pay attention to the new trends of smart home IOT. The whole line of intelligent lighting products of OPP, such as spotlight and table lamp, have been adapted with Huawei lighting subsystem and seamlessly connected to Hongmeng ecology. Consumers can experience the intelligent lighting ecology of multi device, multi scene mode and control mode through Huawei intelligent interaction in the whole house. Rex Jianzhuang, a brand of Rex international, signed a strategic cooperation agreement with master Wan. The two sides will build a new ecosystem of smart life around the smart home service experience.
It is suggested to pay attention to: Ecovacs Robotics Co.Ltd(603486) , Beijing Roborock Technology Co.Ltd(688169) , Marssenger Kitchenware Co.Ltd(300894) , Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) , Hangzhou Robam Appliances Co.Ltd(002508) , Gree Electric Appliances Inc.Of Zhuhai(000651) , Haier Smart Home Co.Ltd(600690) , Midea Group Co.Ltd(000333) .
Risk tips: 1) the impact of the epidemic on the macro economy failed to meet expectations; 2) The price war in the household appliance industry has intensified; 3) Raw material prices rose more than expected.
