Zhou’s investment view:
Hisense commercial display released three new smart education products: Hisense smart blackboard flagship U series, professional P series and smart enjoyment s series. Six eye care technologies are adopted, which will effectively protect students’ eyesight for a long time, and realize a new upgrade in terms of ease of use. Hisense is developing the 100300 inch laser commercial projection market. Its main market segments include commercial and residential, education and Engineering (video conference, exhibition, cultural tourism, etc.). We believe that in addition to domestic scenes, laser display is more and more widely used in commercial scenes. At present, the penetration rate of laser TV is low, the growth rate is fast, and the market prospect in the future is very broad. At the same time, the localization and cost reduction of laser display chips are also gradually promoted. It is suggested to focus on the leading layout of China’s laser display: Hisense Visual Technology Co.Ltd(600060) , Appotronics Corporation Limited(688007) , focus on the release of 4K laser TV new products this year, or focus on Chengdu Xgimi Technology Co.Ltd(688696) .
To help prevent and control the epidemic, Midea has provided relevant equipment and solutions for more than 10 shelter hospitals. The integrated solution integrates the advantageous resources of Beijing Wandong Medical Technology Co.Ltd(600055) image, KUKA medical Siasun Robot&Automation Co.Ltd(300024) and ruishige medical and drug transportation. In addition, Midea’s own professional technology accumulation in the fields of medical low-temperature storage, hospital building solutions, air and surface double elimination, meets the professional requirements of many fields in the construction of shelter hospital, and shows Midea’s strength in the layout of intelligent industrialization. We believe that in addition to the enterprises that have made layout in globalization and high-end in advance, they can still enjoy certain dividends, and a considerable number of enterprises will accelerate the practice of industrialization. The logic behind the core lies in the obvious global comparative advantage of China’s household appliance manufacturing, with components leading the way and leading enterprises turning slowly. China’s household appliance industrialization and manufacturing value revaluation are the long-term logic of the sector, focusing on Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) , Zhejiang Dun’An Artificial Environment Co.Ltd(002011) , Hiconics Eco-Energy Technology Co.Ltd(300048) , Zhenjiang Dongfang Electric Heating Technology Co.Ltd(300217) , Hangzhou Star Shuaier Electric Appliance Co.Ltd(002860) , and leading enterprises Midea Group Co.Ltd(000333) , Gree Electric Appliances Inc.Of Zhuhai(000651) . Industry focus dynamic tracking:
In April, the domestic production scheduling of household air conditioners continued to recover; In February, the sales of central air conditioning multi online increased significantly. In April, the production scheduling of household air conditioners increased by 5.4% compared with the actual performance of the same period last year, of which the domestic production scheduling increased by 14.9% compared with the actual performance of the same period last year, mainly driven by the peak season effect. Most manufacturers increased the production scheduling to prepare goods for channels; Export production scheduling increased by 5.3% year-on-year. The output of refrigerators and washing machines decreased by 4.2% and 10.4% year-on-year respectively. In February, the domestic sales volume of central air conditioning market was 5.19 billion yuan, a year-on-year increase of 45.0%, and the domestic sales volume of multi online was 3.49 billion yuan, a year-on-year increase of 65.7%. It is suggested to focus on the leading enterprises of household air conditioning and central air conditioning: Midea Group Co.Ltd(000333) , Gree Electric Appliances Inc.Of Zhuhai(000651) , Haier Smart Home Co.Ltd(600690) , Hisense Home Appliances Group Co.Ltd(000921) .
Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) join hands with minshi group to jointly develop the European water-cooled panel market Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) and minshi automotive technology R & D Co., Ltd., a wholly-owned subsidiary of minshi group, plan to establish a joint venture. The joint venture plans to carry out R & D, production and sales of water-cooled panel products and related spare parts in Europe Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) accounts for 51% of the equity of the joint venture. The water cooling sector is used for heat exchange and can be carried on the battery box. Battery box is an advantageous product of minshi group, and minshi group has a rich source of customers all over the world. Its European customers include Volkswagen, Audi, Skoda, BMW and other mainstream car companies. We expect that the company may produce a water-cooled sector directly assembled on the minshi battery box, which will be directly sold to European car enterprises by the joint venture, and the company’s auto parts business will be further expanded.
The matching rate of smart toilet fine decoration has been significantly improved. From January to February 2022, the matching quantity of toilet in the refined decoration market is 166000 sets, and the matching rate reaches 100%; The matching quantity of intelligent toilets reached 48000 sets, with a matching rate of 32.6%, an increase of 11.3pct year-on-year. With the relaxation of local real estate policies, it is expected that the engineering market will gradually warm up and the scale of hardbound projects will expand, thus driving the increment of the scale of intelligent toilet products. It is suggested to pay attention to the rapidly developing intelligent toilet industry, and the target companies are: Haier Smart Home Co.Ltd(600690) , Xiamen R&T Plumbing Technology Co.Ltd(002790) , Shenzhen Megmeet Electrical Co.Ltd(002851) , Huida Sanitary Ware Co.Ltd(603385) , Xiamen Solex High-Tech Industries Co.Ltd(603992) , etc.
