总览：2 月零售端延续高增。据奥维，家电2 月全品类线上销额同比+33%，线下销额同比+80%。若剔除春节影响，1-2 月线上和线下销额累计同比增长分别为+51%/+37%。

一、2 月：线上线下持续恢复 .............................................................................. - 4 -

二、白电：零售端表现向好 ................................................................................ - 5 -

三、厨电：线上高增，线下逐渐恢复 .................................................................. - 8 -

四、小家电：扫地机延续高景气 ....................................................................... - 10 -

五、重点品牌天猫旗舰店销售情况.................................................................... - 10 -

六、原材料价格情况 ......................................................................................... - 11 -

七、北上资金持股情况 ...................................................................................... - 12 -

八、投资建议 .................................................................................................... - 13 -

风险提示 ............................................................................................................ - 13 -