Pointed out that compared with developed countries, domestic appliance consumption is still large room for improvement. With income growth, domestic demand continues to release the appliance.
Measure air-conditioning market compound annual growth rate, slightly higher than the 4% -8%.
That the amount of air exports to the U.S. decline was mainly due to agency order form.
Analysis of the impact of rising raw material prices and home appliances market prices.
Investment Highlights:
Most household appliances industry data released in 2007, we carried out these historical data, comment. Appliance industry from 2007 data, the appliance industry has a high degree of economy, especially domestic air conditioning. At the same time, household appliances export growth slower than the industry growth, showing signs of transfer to the domestic demand.
Our holdings from home appliances, consumer durables proportion, the proportion of GDP, consumption, per capita income growth and so on from the analysis. We believe that compared with developed countries, domestic appliance consumption is still large room for improvement; with income growth, domestic demand continues to release household appliances, whether urban or rural.
By historical data for the return of market saturation by calculating the speed of calculation and update the size of the market approach, we measured the growth rate of domestic air conditioning, air conditioning domestic market until 2020, a compound growth rate of just over 4% -8%. From 2001-2007 data, either seasonal fluctuations or fluctuations over the years are obvious, we find it difficult to predict the next 1-2 years, domestic sales growth in air conditioning.
Air exports to Europe increased substantially smooth overall export growth. We believe that the sharp drop in U.S. exports was mainly due to exports is the agency order patterns. We are the United States and Europe consumption, inventory, orders, agents strategies are analyzed. U.S. consumption growth is expected in the case of uncertainty, agents to reduce orders, took the opportunity to digest inventory, operational risks. We dare to guess, due to consumption of more inventory, new orders continued negative growth in 2009, the United States Air orders growth will resume growth, will be reflected in our exports on the air.
Our steel, copper and aluminum on the air conditioners, refrigerators, washing machines, the cost impact of product and made the appropriate sensitivity analysis, these are the basis of a report in the early completion. Costs will promote the product price increases will inevitably result in the acceleration of industry consolidation.
2007 years, the average price, whether domestic or export average price and price is the basic trend, but in early 2008, the average price change in polarization. However, either from the manufacturers, sales channels, or from the consumption data, the prices of white goods expected to still relatively strong. Breakdown products of the leading enterprises in the first price increase, which reflects the difference between different brands of pricing power. We expect that prices will only slightly affect the industry of terminal sales volume, following the strategy adopted in the market would be more difficult for small businesses, the market share of second-tier brands would be more obvious changes.
Finally, we schedule the export tax rebate rate of household appliances are listed in U.S. and European appliances related non-tariff barriers, in 2008 China's household electrical appliances encountered anti-dumping investigations and case studies.
We remain focused on three major recommendations
white goods: Gree Electric Appliance (44.30,0.29,0.66%), Midea (32.05,0.07,0.22%), Qingdao Haier (14.17,0.37,2.68%).
1.2008 appliance industry in domestic demand driven by the export-oriented approached
Appliance industry from 2007 data, the appliance industry has a high degree of prosperity, especially in domestic air conditioning. Meanwhile, export growth in 2007, slower than the appliance industry growth, shows signs of transfer to the domestic demand.
I am an expert from China Chemicals Products, usually analyzes all kind of industries situation, such as garden groom hedge trimmer , long reach hedge cutter.
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