Galaxy Securities of China: The main focus of investment in the white goods sector is on the stability of company performance.

China Galaxy Securities pointed out that the investment in the white goods sector mainly depends on the stability of the company's performance, the steady increase in dividend payout ratio, and the valuation increase trend brought about by the decline in risk-free interest rates; the investment opportunities in the black goods sector mainly lie in the performance resilience in the context of global competitiveness enhancement; the investment opportunities in the clean appliances sector come from the opportunities for industry leaders to emerge after deep integration since the third quarter of 2023; in addition, the penetration of AI and embodied robot technology will lead to the introduction of attractive new smart products by some companies.