Industry Micro Weekly (20240415) Reading Tips: Industry Hot Spots→ Enterprise Dynamics→ International Newsletter → Exclusive Data
The 14 departments of the industry hotspot jointly released the "Action Plan for Promoting the Trade-in of Consumer Goods", and the growth rate of mainland imports and exports hit a new high in six quarters in the first quarter, and the national CPI and PPI data were released in March
The 2024 China Refrigeration Exhibition was grandly opened, the new products of central air conditioning were highlighted, and the new heating facilities and equipment will be updated to give priority to the transformation of various heat pump units, and new energy has become the largest power supply type in the five southern provinces and regions for the first time The subsidiary was spun off and listed on ROBAM to establish an innovative technology company, including a number of AI businesses, and Huawei released the world's first new wind-liquid intelligent refrigeration industrial and commercial energy storage product
Silan Micro's 2023 IPM module operating income increased by 37%, International Briefing: Goldman Sachs raised its forecast for China's economic growth due to strong manufacturing
U.S. inflation has been higher than market expectations for many months, Indonesia's economic growth rate will exceed 5% this year and next year, Apple may not hold a special spring event this year, Tesla has set up a universal charging station in the United States, open to all brands, and Samsung will receive an exclusive chip subsidy of $7 billion from the United States
Industry Hotspots·
The Action Plan for Promoting the Trade-in of Consumer Goods was released
On April 12, 14 departments including the Ministry of Commerce issued and issued the "Action Plan for Promoting the Trade-in of Consumer Goods", proposing that by 2025, the market share of high-efficiency and energy-saving household appliances will be further increased; The recycling of used household appliances will increase by 15% compared to 2023, and by 2027, the recycling of used household appliances will increase by 30% compared to 2023. The "Action Plan" proposes to promote the replacement of household appliances with "intelligence", focusing on facilitating the replacement of urban and rural residents, improving the recycling system of waste household appliances, opening up the "venous circulation" of waste household appliances recycling, and smoothing the consumption cycle of household appliances.
The growth rate of imports and exports in the first quarter hit a new high in six quarters
On April 12, the State Council Information Office held a press conference to introduce the import and export situation in the first quarter of 2024. According to customs statistics, the scale of imports and exports in the first quarter exceeded 10 trillion yuan for the first time in the same period in history, and the growth rate of imports and exports hit a new high in six quarters. The total value of imports and exports of goods was 10.17 trillion yuan, an increase of 5% year-on-year. Among them, exports were 5.74 trillion yuan, an increase of 4.9 percent, imports were 4.43 trillion yuan, an increase of 5 percent, and exports and imports were 4.1 and 2.3 percentage points faster than those in the fourth quarter of last year, respectively.
The Bureau of Statistics released the national CPI and PPI data for March
According to the national CPI and PPI data released by the National Bureau of Statistics in March 2024, the national CPI rose by 0.1% year-on-year and decreased by 1.0% month-on-month in March, and the core CPI, which excludes food and energy prices, rose 0.6% year-on-year due to factors such as the seasonal decline in consumer demand after the holiday and the overall sufficient market supply. In March, with the recovery of industrial production after the holiday, the supply of industrial products was relatively sufficient, and the national PPI fell by 0.1% month-on-month, a narrower decline than the previous month, and a year-on-year decrease of 2.8%, with a slight expansion of the decline, of which the price of means of production fell by 3.5%.
New real estate policies in many places are frequently issued to stabilize the market by "city-specific policies".
A few days ago, Beijing, Guangzhou, Shenyang and Suzhou introduced adjustment and optimization measures for housing provident funds at the same time to further support residents' demand for rigid and improved housing. In addition to optimizing the provident fund policy, Qingdao, Nanchang, Fuzhou and other places have optimized the housing credit policy, and at the same time launched the "old for new" policy for the demand for improved housing. According to incomplete statistics, as of April 10, 15 cities such as Guangzhou, Ganzhou, and Jining have phased out the lower limit of the interest rate on commercial personal housing loans for the first house.
The 2024 China Refrigeration Exhibition showcases the innovation vitality of enterprises
From April 8th to 10th, the 2024 China Refrigeration Exhibition was successfully held at the China International Exhibition Center in Beijing, which is the return of the refrigeration exhibition to Beijing after 6 years, attracting 1,006 exhibitors from 27 countries and regions around the world. The number of participating countries and regions increased by 8 compared with the previous year, and the proportion of international exhibitors exceeded 20%, basically returning to the level before the epidemic. In this grand exhibition, exhibitors showcased their most cutting-edge refrigeration technologies and products, allowing us to witness the vigorous development and innovative vitality of the refrigeration industry.
The heating facility will be renewed, and all types of heat pump units will be preferred
On April 8, the Ministry of Housing and Urban-Rural Development of the People's Republic of China issued a notice on the issuance of the "Notice on Promoting the Implementation Plan for the Renewal of Construction and Municipal Infrastructure Equipment", mentioning that the renewal of heating facilities and equipment, in accordance with relevant standards, the renewal and transformation of coal-fired boilers that exceed their service life, do not meet the energy-saving level or level 2 standards of industrial boilers, and do not meet the standard of flue gas emissions. Focus on eliminating coal-fired boilers of 35 steam tons / hour and below, and give priority to transforming them into various types of heat pump units.
For the first time, new energy has become the largest power source type in the five southern provinces
China Southern Power Grid said on April 11 that as of now, the installed capacity of new energy in Guangdong, Guangxi, Yunnan, Guizhou and Hainan provinces and regions is 145 million kilowatts, accounting for 32% of the total installed capacity, surpassing coal power for the first time and becoming the largest power type. In terms of provinces and regions, the installed capacity of new energy in Guangdong, Guangxi, Yunnan, Guizhou and Hainan accounted for 27%, 44%, 31%, 32% and 44% of the total installed capacity of the province (region) respectively. From 2021 to 2023, new energy will account for 63% of the new power sources in the five southern provinces and regions.
Company News·
Gree air conditioning unit won the title of "Product of the Year" at the Refrigeration Exhibition
On April 10, the release ceremony of the "Gold Award Product" of the 2024 China Refrigeration Exhibition was grandly held. Gree's ultra-efficient two-stage permanent magnet variable frequency screw chiller won the title of "Gold Award Product" at the 2024 China Refrigeration Exhibition, and stood out among the 9 "Gold Award Products" and became the only winner of the title of "Product of the Year". Gree's ultra-high-efficiency two-stage permanent magnet variable frequency screw chiller has achieved a breakthrough in the energy efficiency level of chillers in the small and medium-sized cooling sections, with a COP of 7.53 and an IPLV of 10.52 for the double-head 400RT unit, which is 29.9% higher than the national standard first-class energy efficiency.
Haier Casarte rushed into the multi-online high-end track
During the 2024 China Refrigeration Exhibition, Haier Smart Building released its new high-end series of new products, Casarte IoT Multi-Connection, the industry's first active butler service. The release of Casarte IoT multi-online is of great significance. In terms of brand, Casarte, as an international high-end brand, has entered the field of HVAC engineering for the first time, filling the gap of domestic brands in the high-end multi-line central air conditioning market.
Midea signed a strategic cooperation agreement with NIO
On April 10, Midea Group signed a strategic cooperation agreement with NIO at Midea's Welling auto parts manufacturing base in Anqing. According to the agreement, Midea and NIO will work together on in-depth cooperation in the field of auto parts and new technology research and development, including key products such as air conditioning compressors, electric drive systems, thermal management integrated solutions, and on-board refrigeration equipment. On the same day, a new generation of 900V round wire stator products launched by Midea Welling Auto Parts was officially put into production.
Invic 7cm ultra-thin energy storage dehumidifier new product released
On April 11, Invic released an ultra-thin energy storage dehumidifier. It can intelligently detect the air humidity, and the compressor actively dehumidifies to maintain the appropriate humidity in the cabin and ensure the service life of various equipment in the energy storage system. At the same time, through structural design innovation, it can achieve smaller size and volume, and can be flexibly installed in a small space. In addition, the product has good versatility and reliability. It supports 4500m high altitude applications and can be applied to 0-45°C environments.
Skyworth plans to hit the scale of 100 billion yuan in 2025
On April 8, Huang Hongsheng, founder and major shareholder of Skyworth Group, revealed that Skyworth Group plans to hit the target of 100 billion yuan in revenue by 2025 within two years. "Now there are two directions for the development of the group, one is group management, like Midea Group, and the other is the spin-off and listing of subsidiaries, such as Geely Group, which has a number of subsidiaries spin-off and listing." Huang Hongsheng said that the future development direction of Skyworth Group is more inclined to learn from the Geely model, because China's new entrepreneurial era has come, and it is necessary to conform to the trend of the times of partners.
ROBAM established a new company, including a number of AI businesses
According to the Qichacha APP, recently, Chengdu Boss Innovation Technology Co., Ltd. was established with a registered capital of 5 million yuan, and its business scope includes: artificial intelligence application software development, artificial intelligence theory and algorithm software development, artificial intelligence general application system, wearable smart device sales, etc. The company's equity penetration shows that the company is wholly owned by Robam Appliances.
Huawei released its first new wind-liquid intelligent cooling industrial and commercial energy storage product
On April 10, Huawei Digital Power released the world's first new wind-liquid intelligent cooling industrial and commercial energy storage product. The product has made breakthrough innovations in the three major architectures of security, thermal management, and power supply, and has carried out full-scenario and full-life cycle application innovation in order to flexibly adapt to industrial and commercial scenarios. The system has three working modes: active liquid cooling, natural air cooling, and waste heat utilization. Through the intelligent cooling router, the working mode is automatically adjusted according to the ambient temperature and battery working conditions, and the "heart rate" adaptive adjustment control is realized.
Silan Micro's 2023 IPM operating income increased by 37%
According to the 2023 annual report released by Silan Micro, during the reporting period, the revenue was 9.34 billion yuan, a year-on-year increase of 12.77%, and the non-net profit was 58.9 million yuan. The company's integrated circuit operating income was 3.129 billion yuan, a year-on-year increase of 14.88%. Among them, the operating income of IPM module reached 1.983 billion yuan, a year-on-year increase of 37%. In 2023, many mainstream domestic white appliance manufacturers will use more than 100 million Silan IPM modules on white appliance machines such as inverter air conditioners, an increase of 38% over the same period last year.
International Newsletter·
Goldman Sachs raised its forecast for China's economic growth on a strong manufacturing sector
Goldman Sachs China recently released a research report that China's January-February data generally exceeded expectations, the manufacturing purchasing managers' index (PMI) in March was higher than the market consensus, and the recent high-frequency data showed economic resilience, based on this, the Goldman Sachs macroeconomic team revised China's real GDP growth forecast for the first quarter upward, and China's GDP growth forecast for the whole year of 2024 was also revised upward to 5.0% from the previous value of 4.8%.
U.S. inflation has been higher than market expectations for many months
According to the latest data released by the U.S. Department of Labor on April 10, the U.S. consumer price index (CPI) rose by 3.5% year-on-year in March this year, an increase of 0.3 percentage points from February and a month-on-month increase of 0.4%, the same as in February. Excluding volatile food and energy prices, core CPI rose 0.4% month-on-month and 3.8% year-on-year, both unchanged from February. U.S. inflation has been higher than market expectations for many months, causing the industry to worry about economic risks, believing that the Fed may not even cut interest rates this year.
Indonesia's economic growth will exceed 5% this year and next year
According to a report on the website of Singapore's "Lianhe Zaobao" on April 9, a new report released by the Macroeconomic Research Office (AMRO) of ASEAN and China, Japan and South Korea predicts that Indonesia's real gross domestic product (GDP) will grow by 5% in 2023, and is expected to reach 5.2% in 2024 and 5.2% in 2025.
Apple may not be hosting a special spring event this year
It's now mid-April, and sources have revealed that Apple will no longer hold a special spring event this year, but will instead release new products directly through press releases. New products for spring 2024 include an iPad Pro with an OLED display and an M3 chip, the new Apple Pencil 3. The media speculated that Apple's WWDC conference is scheduled for June 11-15, 2024, and that the new iPad products could be released during the conference and be available in late June.
Tesla has universal charging stations that are open to all brands
According to US media reports on April 9, Tesla Motors has set up two charging stations in Massachusetts for the first time that are suitable for all electric vehicles. Thanks to Tesla, EV drivers looking for charging stations on the roadside in Massachusetts have some new options this month, the report said. The industry-leading electric vehicle maker has set up two new Supercharger stations in Linfield and Foxborough across the state, open to all brands of electric vehicles.
Samsung is rumored to receive a $7 billion chip subsidy from the United States
According to people familiar with the matter, the U.S. government plans to unveil a major subsidy package in the near future that will provide up to $6 billion to $7 billion in financial support to South Korean tech giant Samsung. The move is aimed at further expanding Samsung's chip production capacity in Taylor, Texas. It is reported that this huge subsidy will be directly used to build four modern factories in Taylor.
Exclusive data·
In February, household dehumidifiers bucked the trend and exploded
According to industry online data, in February 2024, despite the impact of the Spring Festival holiday, the production and sales of dehumidifiers still showed an impressive growth trend. Domestic sales: Due to the early arrival of the "return to the south of the sky" in the southern region, the air humidity has risen sharply, which has greatly stimulated the purchase demand of consumers, and the market is positive, and even the phenomenon of exploding orders once appeared. Exports: Affected by the low base of the previous year and the replenishment of inventory at the beginning of the year, the export of dehumidifiers also showed a warming trend.
In February, the production and sales of rotary compressors declined
According to industry online data, affected by the Spring Festival holiday, the rotor compressor industry produced 19.400 million units in February, down 6.6% year-on-year and 19.5% month-on-month, and sold 19.258 million units, down 10.5% year-on-year and 24.1% month-on-month. Domestic market: The trade-in policy has been gradually implemented, and it is expected to continue to boost the growth of compressors in the future. Export market: Combined with the situation from January to February, the global heat wave strengthened terminal expectations, resulting in the continuation of overseas replenishment demand, and simultaneously driving the growth of the compressor market.
