Source: Information consulting department of CHEAA
As coronavirus gradually gets contained, China’s home appliance industry rallies with a narrowed falling rate. From January to August 2020, the industry posted revenue of 872.33 billion Yuan, down by 9.4% year-on-year, and profit of 65.97 billion Yuan, down by 10.3% year-on-year, according to National Bureau of Statistics. While revenue of most categories remained a negative growth, some saw their profit grow restoratively such as household refrigerating category and household beauty care and health care category with the former up by 1.2% YoY in revenue and 10.5% YoY in profit and the latter up by 2.5% YoY in revenue and 36.4% YoY in profit. Household air conditioning category topped the list with the highest revenue and profit, posting a fall of 16.2% YoY in revenue and 15.9% in profit YoY respectively. Household kitchen appliance category remained a negative growth with a fall of 4.8% in revenue YoY and a slight rise of 1.7% YoY in profit.