周专题：空调内销排产逐月加速，格力选举新任总裁

Investment Rating - Industry rating: Recommended [5] Core Insights - The production of major home appliances, particularly air conditioners and refrigerators, is accelerating month by month, driven by seasonal stocking in the domestic market. The total production of the three major home appliances in May increased by 5.9% year-on-year, accelerating from 4.3% in April [9][10] - Air conditioner production for May to July shows year-on-year growth rates of +15.4%, +28.8%, and +36.7%, respectively, while export production is under pressure with declines of -1.6%, -12.0%, and -16.7% [9] - Refrigerator production for May to July shows a year-on-year growth of -3.4%, +1.8%, and +4.9%, with exports also facing challenges, showing declines of -8.1%, -9.9%, and -7.1% [9] - Washing machine production in May also saw an increase, with year-on-year growth rates of +4.6%, +1.0%, and -0.2% for May to July [10] - Gree Electric has appointed Zhang Wei as the new president, succeeding Dong Mingzhu, which may influence the company's strategic direction [12] Summary by Sections Section 1: Weekly Topic - The production data for May indicates a month-on-month acceleration in the domestic production of air conditioners and refrigerators, with significant year-on-year growth rates [9] - Gree Electric has elected a new president, which may impact its operational strategies moving forward [12] Section 2: Key Company Announcements - Several companies, including XGIMI Technology, Dechang Co., and Giant Star Technology, have released their annual reports for 2024, reflecting their financial performance [3] Section 3: Data Tracking - Raw material prices have shown fluctuations, with copper and aluminum prices increasing by 2.9% and 3.6% respectively [25] - Shipping rates have also seen a slight increase, with the CCFI composite index rising by 1% [33] - Real estate data indicates a decline in sales area, completion area, and new construction area, with year-on-year changes of -3%, -14%, and -24% respectively [36]