建议把握一线白马的估值切换机会，推荐白电龙头格力电器、美的集团、青岛海尔， 推荐小家电龙头苏泊尔，推荐黑电龙头海信电器，推荐厨电龙头老板电器。沪深 300 指数表现平稳， 微涨 0.1%。本周家电板块表现一般，申万家电指数微跌 0.2%，跑输市场 0.3 个百分点，其中白电指数下跌 0.3%，视听器材指数上涨 0.8%。

本周家电板块表现不及沪深 300 指数。本周申万家用电器板块指数下跌 0.2%，低于沪深 300指数 0.1%的涨幅。重点公司中， 本周青岛海尔（+0.9%）、格力电器（+0.6%）领涨，银河电子（-13.4%）、聚隆科技（-7.5%）、金海环境（-6.9%） 领跌。

大陆面板产能规模 2019 年将位居全球第一：2017H1 显示产业收入达 497 亿美元，同比增长 11%；b) 财富评最受赞赏中国公司：海尔位列前三：同时入围的还有阿里巴巴、百度；c) 厨电行业已进入专综并举时代，突破千亿元：2017H1 同比增长 14.9%；d) 中国家电全球份额超 50%：今年主要家电产品的全球生产量为 75284万台，中国制造的产品多达 42318 万台，占总体的 56.2%；e) 康佳彩电业务成包袱向大股东业务靠拢转型；f) 国内洗碗机行业将迎爆发拐点：中怡康预计，2017 年全年洗碗机行业零售额规模将达 47.6 亿元，零售量将至 109.7 万台；h) 空气净化器市场再添新丁，墨迹空气推出的净化器主打 AQI 预警即时推送功能

Electronic components are made of several electronic circuits. A clock signal is a stable signal oscillating at regular intervals. More precisely, for an electronic circuit to perform optimally, a stable cycle of signal oscillation is necessary. This is where timing devices, especially a semiconductor clock plays a crucial role. Electronic circuits operate based on the clock signals. Timing devices provide timing cues to ensure delivery of circuit's functions and enable synchronization with a peripheral controller.

A gas engine is a type of internal combustion engine that uses different types of fuel to generate motive power. Natural gas is the most commonly used fuel in a gas engine. After the engine generates enough high temperature and high pressure, force is applied by the engine. This force moves the piston thus creating mechanical energy from chemical energy. The diesel engine is a substitute of a gas engine. Advantages of gas engines over diesel engines are listed below.

The global HB LED market is growing at a high rate due to the benefits of HB LEDs. HB LEDs have better luminosity when compared with traditional LEDs. They are preferred over other lights such as incandescent and compact fluorescent lamps (CFL) for their higher drive current levels and energy efficiency. HB LEDs are known as green lighting systems because of their energy-efficient features and low carbon emissions. They consume 75% less energy than other bulbs and have a longer lifespan (60,000 hours) compared with incandescent bulbs (1,500 hours) and CFLs (8,000 hours).

A grinding machine is a type of machine tool, which is used to cut and shape metals and other materials based on the specifications of the product. The machine uses an abrasive wheel as the cutting tool. The rough surface of the abrasive wheel helps in scrapping off the unnecessary material from the workpiece.

2017年三季度地产销量增速为1.1%，相比上半年16.1%大幅回落。三季度新开工增速由上半年10.6%降至1.4%。随着2017 年9 月底多地出台新一轮限购限售政策，工程机械重要下游房地产的需求将会进一步收紧，需要继续关注基建和出口数据。2017 年9 月份挖掘机销售10496 台，同比+92.27%，环比+20.45%， 1-9 月累计销量 101934 台，累计同比+100%。

建议把握一线白马的估值切换机会，推荐白电龙头格力电器、美的集团、青岛海尔，推荐小家电龙头苏泊尔推荐厨电龙头老板电器。

本周 SW机械设备指数下跌2.55%，跑输沪深300指数2.70个百分点。国联机械设备股票池中一周表现居前的二级子板块为运输设备（-0.91%）和通用机械（-2.59%）；一周表现居前的三级子板块分别为运输设备（-0.91%）、其他专用机械（-1.92%）和其他通用机械（-1.94%）。

上周家电行业涨幅再次居于各行业前列，其中白电板块涨幅较为明显，再次表现强势。在目前的市场风格中，价值和基本面成为投资的核心逻辑，市场持续关注企业盈利以及内生增长，重视安全边际，低估值的价值蓝筹预期仍将保持相对强势。