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ID:5351614
大小:1.39 MB
页数:18页
时间:2017-12-08
《家用电器2018年年度投资策略:优质资产稀缺,估值有望重构》由会员上传分享,免费在线阅读,更多相关内容在行业资料-天天文库。
1、行业研究/年度策略
2、2017年11月30日正文目录优质资产稀缺,估值有望重构...........................................................................................3龙头强者恒强,外资涌入重构估值体系.....................................................................3稀缺的核心资产,家电龙头强者恒强......................................
3、..........................3外资涌入,估值中枢上移,波幅收窄................................................................6汇率干扰短期业绩,未来弹性可期............................................................................7子行业分析:多点开花,众彩纷呈........................................................
4、............................9空调:炎夏推动销售高增长,渠道库存水平处低位..................................................9洗衣机:滚筒替代,均价提升领跑全行业...............................................................10冰箱:出口增速快于内销,产品升级延续...............................................................11彩电:
5、内销平淡,夏普异军突起.............................................................................12厨电:产品普及率提升,龙头份额扩张,嵌入式打造新亮点..................................13小家电:寻找“隐形冠军”.....................................................................................15个股推荐................
6、.........................................................................................................16格力电器:空调龙头増势延续.................................................................................16美的集团:全品类快速增长,国际竞争力持续提升..............................................
7、..16青岛海尔:高端发力,整合GEA超预期................................................................17小天鹅A:滚筒替代,份额扩张..............................................................................17老板电器:烟灶消领跑,渠道持续拓展...................................................................17TCL
8、集团:持续推动架构调整,面板价值有待重估................................................17苏泊尔:小家电龙头,确定性优选..........................................................................18飞科电器:个护龙头正起航.....................................................................................18欧普照明:家居照明龙头
9、,份额持续扩张...............................................................18新宝股份:未来弹性可期....................
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