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研報掘金|中金:以舊換新有望拉動下半年大型家電零售恢復增長 看好海信家電、海爾智家及TCL電子
中金公司的研究報吿指,以今輪家電以舊換新來測算,認為今年下半年受補貼的大型家電及廚房電器零售額在謹慎、中性及樂觀的假設下將按年升1%、5.3%及12.6%。中金認為,以舊換新有望拉動2024年下半年的大型家電零售恢復增長,指在消費降級的影響下,料大型家電及廚房電器的零售市場不樂觀,並料各省市補貼推廣期為8月至12月。該行亦指,以舊換新受益層面廣闊,單台補貼上限高,料下半年彩電一、二級效能產品佔比有望大幅提升,有利Mini LED產品佔比提升,而今次補貼每人每類產品可補貼一件,單件補貼上限為2,000元人民幣,明顯高過以往補貼政策,認為有利高檔產品的銷售。中金推薦海信家電及海爾智家等白色家電,而黑色家電則看好TCL電子。
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