【海通国际:以旧换新扩围 家电消费潜力有望持续释放】海通国际研报称,2024年家电以旧换新政策效果显著,2025年家电以旧换新政策延续且品类从大家电逐步拓展至厨电及小家电,家电消费潜力有望持续释放,产品结构得到优化。2025年家电终端零售有望实现量价齐升,龙头企业内销收入端有望实现稳健增长,以旧换新拉动下家电销售均价提升明显,家电企业利润率提升可期。利率下行趋势下,家电龙头股息率仍具吸引力,重点关注受益于以旧换新政策且具备全球竞争力的白电和黑电龙头,建议关注:美的集团、海尔智家、格力电器等。

金融界
10 Jan
海通国际研报称,2024年家电以旧换新政策效果显著,2025年家电以旧换新政策延续且品类从大家电逐步拓展至厨电及小家电,家电消费潜力有望持续释放,产品结构得到优化。2025年家电终端零售有望实现量价齐升,龙头企业内销收入端有望实现稳健增长,以旧换新拉动下家电销售均价提升明显,家电企业利润率提升可期。利率下行趋势下,家电龙头股息率仍具吸引力,重点关注受益于以旧换新政策且具备全球竞争力的白电和黑电龙头,建议关注:美的集团海尔智家格力电器等。

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