An electric pallet jack, also called an electric pallet truck, is material handling equipment used to move pallets within warehouses, distribution centers, logistics & other storage facilities. The equipment is powered by a rechargeable battery, making it easy to maneuver and reducing operator fatigue by minimizing manual work. Electric pallet jacks are used across several applications or end-users, such as manufacturing, storage, logistics, or warehouses, to maximize productivity by effortless loading & unloading thousand pounds of load. They are used for the horizontal transportation of goods. They are a viable option for palletizing goods for short distances or feasible for limited storage areas. They are the substitutes for manual pallet jacks and forklifts.

The dynamic garden & yard maintenance equipment industry witnessed a paradigm shift over the years in terms of global trends and challenges. The garden & yard maintenance industry constantly evolves with environmental factors. It is also externally shaped based on the equipment and technology available. The market can witness further traction supported by stringent protocols and corporate policies and considerable upgrades in business models and operation techniques. Accordingly, outdoor power equipment are an integral component of the garden & yard maintenance equipment industry. The global outdoor power equipment market is expected to grow at a CAGR of 5.36% during the forecast period. The demand for landscaping services is on the rise with the rise in interest in gardening and lawn care activities, thereby pushing the demand for outdoor power equipment from landscaping service providers.

The global industrial motor market is expected to grow significantly during the forecast period. Regions, such as APAC and Europe, are expected to dominate the demand in the market, followed by North America. However, Middle East & Africa and Latin America are anticipated to create opportunities with upcoming industrial developments in HVAC applications, F&B, oil & gas, and other industries. China, Middle Eastern countries, and the US provide the most competitive industrial initiatives.

Advances in technology have led to the development of several tools and machines across industries. Power tools are outpacing traditional hand tools in the professional and residential segments due to the demand for efficiency. For example, the construction industry experiences high pressure to launch innovative tools that reduce human effort. The surge in the infrastructure and construction market is a boon to the power tools market that will also enforce innovations in the future. With the rise in manual labor costs and home improvement activities, DIY has pushed the demand for user-friendly tools.

Nowadays, electrical appliances are the easiest, most comfortable, and most timesaving devices. These electrical appliances are the most advanced modern appliances used for daily purposes. Through a combination of these factors, vendors have introduced personal care electrical appliances in the market. Personal care electrical appliances are typically powered by electricity and may include rechargeable batteries for cordless use. They may also have various features and attachments, such as different speed or heat settings, interchangeable heads or blades, and timers or sensors.

The global robotic floor scrubber market is gaining momentum due to the rising demand for effectiveness and efficiency by various commercial and industrial users, high labor costs in developed countries, and stringent norms regarding cleanliness and hygiene in various end-user industries. The popular trend of automation, rising dependence on technology to enhance productivity, and development of advanced technologies such as AI and sensors provide significant growth opportunities for vendors in the market.

The global portable air compressors market has been witnessing stable growth in recent years with rapid utilization in construction sites, road works, and packaging machines through myriad industries. Expanding infrastructural activities in APAC and MEA allow manufacturers profitable business opportunities over the forecast period. Furthermore, technological advances in compression techniques profoundly influence equipment compression capabilities. They are expected to drive the global portable air compressors market growth during the forecast period.

Grout is the filling used between two flooring pieces to enhance the aesthetics and prevent the accumulation of dirt between the two flooring pieces. However, due to continuous movement on the flooring, dirt will always accumulate on the grout. As time passes, it can become evident and spoil the floor's aesthetics. It can cause health hazards, such as germs, grease, microbes, bacteria, and dust. These sticky microbes, fungal organisms, and other organic particles can be easily picked up from the ground by anyone moving on them, which can further be transmitted from one person to another, which can be hazardous in cases of deadly microbes. Many facilities are used by several people daily, such as public transportation facilities, hotels, entertainment, and leisure facilities. It becomes mandatory in such places to properly maintain hygiene and cleanliness. Hence, such factors drive the growth of the grout cleaning equipment market during the forecast period.

机床行业2022 年业绩承压，2023Q1 净利润企稳回升。根据我们统计的 18 家机床行业上市公司看，收入端，机床公司2022 年合计营收约406.18 亿元，基本同上年持平，2022 年合计净利润34.75 亿元，较上年小幅下滑 6.8%，2023 年Q1 合计营收99.33 亿元，同比增速回正，合计净利润8.53 亿元，较上年Q4 环比快速增长，达到38.82%，净利润恢复明显，我们认 为，Q1 业绩回暖主要是由于出口拉动和新能源汽车市场需求依旧旺盛所 致。具体看，机床整机厂商2022 年合计收入及利润出现小幅下滑，但头部 机床企业依旧保持经营韧性，行业规模优势显著，海天精工和纽威数控作 为国内金属切削机床头部厂商，2022 年净利润取得高于收入端增速的增 长，分别为40.31%和55.59%，2023 年Q1 净利润增长分别为22.84%和 35.63%。零部件厂商看， 刀具企业在2022 年业绩表现出色， 但 2023Q1，主要刀具公司的营收增速均出现放缓，净利润增速出现一定程度 下滑。

随着新能源车销量逐步走高，充电桩行业需求也在高速增长，尤其是海外 充电桩建设或将进入发力期，看好国内充电桩龙头企业出海。重点关注充 电桩业务相关企业通合科技、盛弘股份、沃尔核材等。在新技术方面，我们 看好钠离子电池、磷酸锰铁锂、PET 铜箔、氢能等的 0-1 过程。建议关注 钠电池的维科技术、元力股份、传艺科技、圣泉集团等。我们认为当前新 能源车处于低估区间，随着Q2 以来需求的逐步回升，产业链公司业绩有 望逐步环比提升。4 月底以来，碳酸锂价格维持上涨。不到一个月的时间 里，电池级碳酸锂价格已由18 万元/吨涨至30 万元/吨。根据中汽协，4 月 份，国内新能源汽车产销分别完成64 万辆和63.6 万辆，同比均增长1.1 倍，市场占有率达到29.5%。中共中央政治局4 月28 日召开会议，指出要 要巩固和扩大新能源汽车发展优势，加快推进充电桩、储能等设施建设和 配套电网改造。当前位置建议积极配置，推荐宁德时代、亿纬锂能、当升科 技、容百科技、长远锂科、天赐材料、科达利、星源材质、中伟股份、恩捷 股份、比亚迪、德方纳米、信德新材、天奈科技、杉杉股份、中科电气、壹 石通、孚能科技、超频三等。

家电新消费品类 2023 年 3 月至今相继推新，从新品窥见行业两 大增长逻辑。2023 年 3 月至今，家电行业智能投影品类中的极 米科技和光峰科技、清洁电器品类中的云鲸智能、智能短交通 品类下的九号公司相继推新。我们认为，公司推新或系在提前 备战“618”大促节点，同时从近期新品中也可以窥见目前新消 费品类的两大增长逻辑：1）紧抓消费分层逻辑，双向拓展价格 段拓宽已有品类覆盖；2）充分利用自身技术积淀，布局底层技 术相通的新品类探索新业务空间。

2022 年Q4 以来，家电行业指数整体表现略微跑赢大盘，2022 年10 月起截 至2022 年4 月28 日，长江家用电器指数上涨13.68%，跑赢沪深300 指数 7.79pct。四月底政治局会议提到仍要扩大内需，提振消费，未来消费属性较 强的家电领域也将持续受到政策利好。总结家电行业2022 年年报和2023 年 一季报，当前家用电器主要的子板块指数均有上涨，分化较为明显，其中长 江黑色家电指数涨幅34.05%最为突出，白电、小家电、照明设备、厨卫家电 均有上涨。未来建议重点关注可选消费属性强和行业龙头标的。

报告期内电力设备行业指数涨幅为-0.94%，跑赢沪深300 指数 1.41Pct。电力设备申万二级子行业电网设备、电机Ⅱ、电池、风电设备、 其他电源设备Ⅱ、光伏设备涨跌互现，分别变动3.01%、1.95%、1.42%、 0.59%、-1.86%、-6.99%。重点跟踪的三级子行业锂电池、电池化学品 分别变动4.00%、-3.92%。

在《海信系专题报告系列一&二》中，我们分别对海信集团国际化历程和非上市业务 持股及管理情况进行了梳理。海信系的研究重点在于如何提高上市公司净利润，因 此我们仍要回答：1）混合所有制改革能否提高经营效率？2）国际营销公司是否对 集团利润回表产生影响？3）管理层的换届对公司带来什么变化？ 我们认为第一个问题决定了利润能否增加，第二个问题决定了利润能增加多少，第 三个问题决定了利润如何分配。本篇，我们将对海信集团混合所有制改革及核心管 理层持股进行进一步的梳理。

根据奥维云网数据，2023 年4 月我国清洁电器全渠道销量109.5 万台，同比- 6.8%，月度同比降幅缩小，由2023 年3 月的-15.5%缩小8.7pct 至-6.8%；销 额12.0 亿元，同比-7.8%，月度同比由2023 年3 月的-8.2%缩小0.4pct 至- 7.8%。2023 年4 月清洁电器全渠道销量同比较1-3 月累计销量同比缩小9.3pct； 全渠道累计销额缩小2.9pct，销售短期承压但存在复苏趋势。 洗地机占比略有回落，与扫地机量额仍基本持平。扫地机与洗地机销量销额数据 接近。根据奥维云网数据，洗地机销额占比在过去一年由2022 年3 月的26.4% 提升至2023 年3 月的31.0%，2023 年4 月较3 月缩小2.7pct，占比略有回 落，总体上看与扫地机仍规模相当。