家电行业周报：养老机器人国际标准正式发布，多家企业发布24年度业绩快报

Investment Rating - The report maintains a "Positive" outlook on the home appliance industry, highlighting its resilience and potential for growth in the coming years [3][4]. Core Insights - The home appliance sector outperformed the CSI 300 index, with a decline of 0.4% compared to the index's 2.7% drop [4][5]. - Key companies such as Boss Electric, XGIMI Technology, and Lek Electric showed significant gains, while companies like Yitian Intelligent and Sanhua Intelligent Control faced notable declines [4][7]. - The report emphasizes the impact of new international standards for elderly care robots, which are expected to drive growth in the robotics segment of the home appliance industry [9]. - Several companies reported their 2024 annual performance, with XGIMI Technology's revenue at 3.414 billion yuan, a 4% decrease year-on-year, while Stone Technology projected a revenue increase of 38% to 11.93 billion yuan [10][46]. Summary by Sections Industry Dynamics - The report discusses the establishment of international standards for elderly care robots, which will guide product design and development in the sector [9]. - It also notes the performance of various home appliance companies, with XGIMI Technology and Stone Technology providing key financial figures for 2024 [10][46]. Market Data - In January, the air conditioning market saw a retail volume and value decline of 2.9% and 0.5% respectively, while the average price increased by 2.52% to 4,523 yuan [26]. - The refrigerator market experienced a 10.4% drop in retail volume and a 12.1% drop in value, with an average price decrease of 2.3% to 6,336 yuan [27]. - The washing machine sector faced a 17.4% decline in retail volume and a 14.4% decline in value, with an average price increase of 2.8% to 4,086 yuan [27]. Investment Highlights - The report identifies three main investment themes: 1. White goods, benefiting from favorable real estate policies and potential stimulus from trade-in programs, with a focus on leading companies like Hisense, Midea, and Gree [4]. 2. Export opportunities driven by large customer orders, particularly for companies like Ousheng Electric and Dechang Shares [4]. 3. Core components, with increased demand for key parts driven by the white goods sector's unexpected growth, recommending companies like Huaxiang Shares and Shun'an Environment [4]. Raw Material Prices - As of February 28, 2025, copper and aluminum prices increased by 11.75% and 9.64% year-on-year, while stainless steel prices decreased by 7.48% [13]. Company Announcements - Companies like Yitian Intelligent and Supor provided updates on their financial performance, with Supor projecting a revenue increase of 5.3% for 2024 [44][47].