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Air conditioning sales surge to eliminate high inventory concerns. Opened in January 2008 the data than the industry expected. The total sales of air conditioning as much as 47.6% increase over the previous year, while a year earlier in January year on year growth rate of only 8.13%, significantly enhance the growth rate of more than our full year before the 2008 sales growth forecast of 20-25%. We worry about the end of December 2007 inventory has climbed to 11.41 million units the risk of high stocks. However, the January sales surge has made significant reduction in inventory. By the end of January over the previous year increased by only 2.19% stock, stock index fell to 88% for 7 years, the minimum level of inventory in January. (We think that using the absolute value of inventory to measure the risk of biased trade stocks, so the definition of a stock index to measure the rationality of stock trades, or stock index = ending stocks / two months after the end of last year with total sales) 2 by the Lunar New Year holidays, and snow weather, growth should not be optimistic. Although the January data, the impact of weak external force, is able to reflect the needs of natural growth of data, we can not use the January monthly data to predict the trend throughout the year, consolidated 1,2 months of data should be more realistic. Prices is not new. February prices on white goods endless media coverage. In fact, from the second half of 2006 white home appliances have already embarked on the road prices, margins and profits gradually return to a reasonable level. There is no upward pressure on raw materials in 2007, and air conditioning products prices by about 8.9%, refrigerators product prices by about 6.4%. For steel up 40% of the expected air-conditioning and refrigerator need 6.1% and 8.9% price increase to cover costs, the price adjustment rate is achievable. Continues to recommend the first half of Super 08 with white, should enjoy the "uncertainty" premium. Foundation and the first quarter of the recommended strategy report "anti-cyclical investment growth" is not recommended to change the basis, January sales data also strengthen the confidence of investors. Investment can be divided into the following four main lines: First, determine the fastest performance, strong anti-risk ability of the leader type, representative varieties Gree Supor; second, the integration of assets and assets into the industry leader, varieties for the United States on behalf of the electrical, Qingdao Haier; Third, the industry benefited from the white business and the economy, the white upper supporting enterprises, enterprise representatives white varieties Hisense Kelon, Meiling, upstream of three varieties of flowers on behalf of shares Hailigufen; Fourth, benefit from the Olympic effect increased demand driven by sales and profit potential rapid growth of household electrical appliance enterprises, representatives of varieties Hisense Electric, Vantage shares. 1. Air conditioning sales surge to eliminate high inventory concerns 1.1 very good start last year, concerns the high inventory drop 08 opened in January of data than industry expectations. Air-conditioning as much as the total sales increase of 47.6% year on year, while a year earlier in January year on year growth rate is only 8.13%. If the beginning of last year on the air conditioning industry, we know that out of the industry downturn of the recovery, and it made a great start, even more so this year's opener last year, significantly enhancing growth. Export and domestic sales growth almost equal to much more than our full year before the 2008 forecast of sales growth of 20-25%. We worry about the end of December 2007 inventory has climbed to 11.41 million units the risk of high stocks, optimistic that the industry there is partial market demand is expected. However, the January sales surge has made significant reduction in inventory. If we simply look at the absolute value of inventory inventory risk industry, we believe is biased. Therefore, we define the stock index to measure the rationality of stock trades, or stock index = ending inventory / sales is expected the next two months, we are more conservative with the same period last year two months after the end of the sales to measure the next two months sales. Can be seen from the analysis, although the absolute value of inventory at the end of last year compared to roughly equal, but the growth rate and stock index from the point of view, by the end of January an increase of 2.19% stock, stock index fell to 88% 7 years, the minimum level of inventory in January. I am an expert from china-leather-handbags.com, while we provides the quality product, such as Ladies Leather Hand Bags Manufacturer , Women Leather Backpacks, Ladies Leather Hand Bags,and more.
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