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研報掘金丨中金:新一輪以舊換新政策落地 看好家居和3C類消費回暖
格隆匯 01-06 14:07

中金髮表報吿,內地新一輪以舊換新政策落地,認為政策力度及補貼範圍的擴大有望進一步刺激相關品類的消費需求,同時補貼機制的完善亦將降低企業參與的門檻,政策普及面有望進一步加大,帶動家裝及消費電子包裝需求持續回暖。

報吿稱,去年家裝補貼政策的拉動係數為1.17至1.75,10及11月龍頭家居企業訂單及銷售均出現明顯回暖,預計補貼力度擴大或將推動拉動係數的上升,同時家居龍頭企業積極參與以舊換新,不斷推進品類擴張和渠道融合,因此今年業績有望恢復快速增長趨勢。

報吿提到,看好消費電子包裝需求回暖空間,近期江蘇、貴州及杭州等地已陸續推出消費電子以舊換新補貼類活動,對消費電子需求有較好的提振作用,認為裕同科技作為全球消費電子包裝龍頭企業,有望直接受惠行業回暖。港股方面,推薦敏華控股,評級“跑贏行業”,目標價7港元。

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