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[Brokerage Focus] HTSC: The mid-term report window is about to open, and it is expected that leading household appliance companies' overseas revenue performance may outperform the Industry's customs export data.
Jingwu Finance News | HTSC indicates that since 2025, affected by multiple factors such as the escalation of tariff friction between China and the United States and the marginal decline of the inventory replenishment cycle, China's home appliance exports have come under pressure in April and May. In terms of export value and volume, as well as production scheduling at factories, the short-term economic outlook has weakened. This is particularly true for exports to the U.S., which are heavily impacted by the temporary 145% high tariff policy. Although the tariffs have eased somewhat in mid-May, there is still the burden of a 30% tariff plus an additional 50% on some steel and aluminum components. The institution believes that the fluctuations in exports are not simply due to a temporary weakening of external demand, but rather reflect a structural shift in the home appliance export chain: as the overall...
Guolian Minsheng Securities: The national subsidies for home appliances are expected to continuously and steadily release demand throughout the year, maintaining an "outperform the market" rating for the Industry.
The calculations indicate that since May, the usage speed of subsidy funds has significantly accelerated, and by the end of May, it is estimated that the home appliance category has accumulated approximately 50 billion in subsidy funds, reflecting a progress that is clearly faster than initial expectations.
Insider Stock Buying Reaches US$990.2m On JS Global Lifestyle
【Brokerage Focus】SWHY maintains a "Buy" rating for JS GLOBAL LIFE (01691), indicating that its business prospects in the Asia-Pacific region are broad.
Jinwu Financial News | SWHY Research Reports indicate that JS GLOBAL LIFE (01691) is further expanding its Dealers in Southeast Asia. In Q1 2025, SharkNinja APAC officially entered the Thai market in partnership with the major electronics retailer Power Buy, and held a launch event for the Shark CleanSense iQ+ cordless vacuum cleaner in March, showcasing the CleanSense iQ+ vacuum cleaner products. After establishing its presence in markets such as Japan, South Korea, and Australasia in the Asia-Pacific region, the company achieved rapid revenue growth and is further expanding into the Southeast Asian market.
After June 20 in Guangxi, the subsidy for replacing old consumer goods will be suspended, and the specific resumption time will be based on official announcements.
According to reports from domestic media, the Guangxi Autonomous Region Department of Commerce has issued a notification regarding the suspension of the 2025 Guangxi consumer goods trade-in subsidy activities. The notification states: From 24:00 on June 20 of this year, the subsidy activities for car replacement and renewal, home appliance trade-ins, new 3C digital purchases, electric bike trade-ins, and home decoration kitchen and bathroom "refresh" will be suspended. Among these, for consumers participating in the car replacement and renewal subsidy activity, they need to complete the purchase of a new car procedures (based on the time of issuance of the unified invoice for motor vehicle sales), and submit the unified invoice for motor vehicle sales through the Yunshanf Pay car replacement activity special area to lock in the quota before 24:00 on June 20.
In "Dahing", Credit Lyonnais raised the target for JS GLOBAL LIFE (01691.HK) to 2.3 yuan, rating it as "outperform the market".
According to the Lyon research report, JS GLOBAL LIFE (01691.HK) subsidiary Joyoung is actively investing in marketing to expand market share, but the firm believes that future growth will mainly come from the SharkNinja business in the Asia-Pacific region. This is because SharkNinja in the United States continues to provide mature products, while leveraging brand effects in the Asia-Pacific region leads to rapid market growth. The market share in this region is expected to be comparable to that of the United States in the future. With the scale effect of SharkNinja's Asia-Pacific business and the expiration of some related transaction expenses, profit margins are expected to improve. The firm will...