Huatai Securities has unveiled its annual industry forecast for the home appliance sector, looking ahead to 2026. In the initial ten months of 2025, the home appliance industry witnessed a cumulative growth of 7.7%, positioning itself in the lower-middle tier among the sub - industries classified by Shenwan. Throughout this particular economic cycle, the sector's social retail sales of home appliances received a boost from subsidy initiatives. However, the pace of growth has been tapering off, and the export landscape is clouded by uncertainties, notably potential tariff modifications. In light of these circumstances, Huatai Securities points out three pivotal trends that warrant close observation:

Firstly, leading white goods manufacturers, capitalizing on their substantial scale, extensive channel networks, and robust profitability, are set to emerge as reliable assets capable of "riding out the economic tides".

Secondly, technological advancements are propelling the intelligent evolution of home appliances, thereby opening up avenues for structural growth.

Thirdly, burgeoning sectors such as automotive thermal management systems, humanoid robotics, and AI computing power present substantial opportunities for expansion and have the potential to elevate industry valuations.