freerouletteforfun| Home appliances: The gross profit margin of the home appliance sector has improved for 8 consecutive quarters

Source Gangtise Investment Research

analysts saidfreerouletteforfunIn 2024Q1, revenue from the A-share home appliance sector increased by 8 to 9% year-on-year, of which, revenue from white electricity increased by 8% year-on-yearfreerouletteforfun.88%, black electricity increased by about 6% year-on-year, and smart homes increased by about 16% year-on-year. Gross profit marginfreerouletteforfunFrom a perspective, the gross profit margin of the entire home appliance sector has improved for 8 consecutive quarters (2022Q2 to date), mainly due to the increase in the overall home appliance ex-factory price, the downward trend on the cost side, the depreciation of the RMB during the period, and the decline in freight during the period. Domestic shipments of air conditioners in 2024Q1 increased by 17% year-on-year (mainly due to channel replenishment and the pace of delivery has been advanced), exceeding market expectations. It is expected that subsequent white electricity retail revenue will increase by 5 - 10% year-on-year, and profit growth will be higher than revenue growth.

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