2021.09.17
■ The Ministry of Commerce (MoC) issued a "Notice on furthering the key tasks of promoting consumption in the current business field” yesterday. ■ This was not a surprise, as yoy growth of retail sales slowed down substantially in Aug 21, and some key sectors reported negative yoy growth (link). ■ The notice mentioned key sectors such as new energy vehicles (NEVs), home appliances and catering services. ■ Home appliances names such as Midea [000333.CH] and platforms such as JD.com [9618.HK] will be beneficiaries. Other home appliances names include Haier Smart Home [6690.HK], TCL [1070.HK] and JS Global [1691.HK]. ■ Apart from NEV names, the battery supply chain, including both battery makers and upper stream suppliers, will benefit from the structural growth trend. ■ SaaS platforms such as Weimob [2013.HK] are helping the digitalization and transformation of enterprises.
