An automotive turbocharger is a turbine-driven forced induction device that helps the engine to produce additional power. It improves the overall performance of the vehicle.Variable geometry turbochargers (VGTs) are a family of turbochargers that are generally designed to allow an effective aspect ratio (A/R) of the turbo to be altered based on the change in conditions. This is because the optimum A/R at low enginespeeds is different from the required optimum ratio at high engine speeds. VGT allows the altering of these ratios such that the turbo is maintained at optimum levels at all engine speeds.

LFPs (also known as wide-format printers) are printers that support maximum print roll width of 18 inches to 100 inches. The major areas where LFPs find application include print banners, posters, backdrop for theaters, constructional designs, and different other large-format artworks. Most of the LFPs available currently are based on inkjet printing technology. Aqueous, solvent, dye sublimation, UV, and pen/plotters are the technologies used to transfer ink in LFPs. Advances in technology across different components of LFPs, such as ink and working mechanism, are the factors that have enhanced their efficiency and productivity. The global LFPs market is witnessing an increase in demand from application areas, such as advertising, textile, and vehicle wraps, and these are expected to be the key factors driving the market growth during the forecast period.

家电板块 2017年上半年营业收入 5011.99 亿元，同比增长 34.87%，52 家公司中 48 家收入同比实现正增长，涨幅居前的主要是各子行业龙头公司；净利润 332.37 亿元，同比增长 22.16%。受原材料价格上涨影响，上半年家电行业毛利率和净利率分别同比下滑 0.9 和 0.73 个 pct，同时企业提前采购原材料、零部件导致存货增长 50.67%，经营活动净现金流下降 34.07%。

上周家电板块下跌 1.40%，上证指数上涨 1.07%,沪深 300 指数上涨0.92%，创业板指上涨 2.89%。家电各子行业中，照明设备涨幅最大，白色家电跌幅最大。2017 年初至今涨幅排行中，家电排第 4 位，涨幅26.69%。

上周钢铁等周期行业表现强势，资金分流效应下家电板块走势平淡，且主要价值蓝筹品种出现不同程度回调；不过上周披露完成的中报显示，成本及汇兑冲击下，行业收入及业绩仍实现高速增长且白电龙头均有超预期表现，基本面支撑确定，长期配置价值凸显；综合来看，上周家电指数下跌 1.66%，在申万一级行业中排名第 27 位，分别跑输沪深 300 及上证综指 2.58 及 2.73pct；个股层面，涨幅前三个股为三星新材（15.96%）、金莱特（8.54%）及奇精机械（7.39%），跌幅前三个股为新宝股份（-12.45%）、惠而浦（-5.37%）及万和电气（-3.90%）。 

家电行业重要三板公司中，小狗电器与浙江国祥都有上佳表现：1）小狗电器 1H17 营业收入 3.2 亿元，同比+42.2%；归母净利润 0.20 亿元，同比+51.7%。2）浙江国祥 1H17 收入 3.04 亿元，同比+39.6%；归母净利润 0.24 亿元，同比+74.7%。

7 月份以来，原材料价格继续上涨、人民币大幅升值、地产销售增速放缓，这些对家电行业下半年形成压力，但中报情况再次证明了，龙头公司凭借良好的行业格局、优秀的管理能力，有望克服外部压力实现收入的良好增长和盈利能力的稳定。

本周沪深 300 指数上涨 0.96%，家电指数下跌 1.00%。从各行业本周涨跌幅来看，家电板块位列中信 29 个一级行业涨幅榜的第 28 位；从家电和其他行业PE(TTM)对比来看，家电行业 PE(TTM)为 20.3 倍，位列中信 29 个一级行业排行榜的第 25 位，处于较低水平。