Huiyin Household Appliances vs Dohome: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Huiyin Household Appliances (1280.HK)

Dohome Public Company Limited (DOHOME.BK)

Q3 202620 Jul – 7 Oct 2026

▲3▼1

Dohome's profit rebound and flood-repair demand lift outlook, but one broker stays bearish

Earnings recovery and margin expansion Dohome's Q2 profit jumped 94% from a year earlier, gross margin widened to 20.2%, and same-store sales turned positive at 4–6%, helped by contractor and government work. Q3 profit is seen up 35–45%.
This is the core new fundamental improvement that drove positive sentiment in the quarter.
Broker upgrade and flood-repair demand CGSI upgraded Dohome from Sell to Buy and made it a top pick, while several brokers named it a post-flood home-repair winner, noting 22% of its branches are in flood-affected Bangkok.
This captures the key analyst action and the new demand catalyst from flooding that lifted the stock.
Government stimulus and solar subsidies Government solar-rooftop subsidies and the extended Thai Help Thai stimulus program are expected to support Dohome's sales and profit in the coming quarters.
These policy measures are new tailwinds that could boost demand for Dohome's products.
Bualuang Sell rating and weak outlook Bualuang kept a Sell rating and 3.20 baht target, forecasting 2027 core profit down 5% on postponed store openings, weak household and construction demand, and a shrinking government investment budget, calling post-flood gains a selling opportunity.
This is the main counterweight, showing that not all analysts share the optimistic view.

August 202620 Jul – 7 Oct 2026

▲3▼1

DOHOME's profit recovery and flood-repair demand outweigh a bearish 2027 outlook

Q2 profit jumped 94%, beating expectations DOHOME's second-quarter 2026 profit rose 94% from a year earlier, with sales up 6.9% and gross margin widening to 20.2% from 18%. That is the clearest sign the company's earnings slump has ended, and it is the main reason brokers turned more positive on the stock.
The earnings jump is the core fundamental event that reset expectations for DOHOME this period.
Same-store sales turned positive, led by contractor and government work Same-store sales grew 4-6% in the third quarter, with back-office sales to contractors and government projects up 6-9%. Brokers see this as a genuine recovery, not just a low-base fluke, and several recommend accumulating the shares on that basis.
The return to positive same-store sales is the key operating trend driving broker upgrades and price support.
Post-flood home-repair demand expected to lift fourth-quarter sales Flooding in Bangkok and central Thailand is expected to be followed by a wave of home repair and renovation spending. DOHOME has 22% of its branches in Bangkok and its vicinity, so brokers name it among the retailers most likely to benefit once the water recedes.
Flood-driven repair demand is the main near-term catalyst brokers cite for DOHOME's fourth-quarter sales.
One broker keeps Sell, warning 2027 profit will fall Bualuang Securities kept a Sell rating and 3.20 baht target, forecasting 2027 core profit down 5% as new large-store openings are postponed, household and construction demand stays weak, and the government investment budget shrinks. It calls post-flood share gains a chance to sell.
This is the main counterweight: a broker arguing the recovery is temporary and 2027 earnings will decline.

Latest20 Jul – 7 Oct 2026

▲3▼1

DOHOME's profit recovery and flood-repair demand outweigh a bearish 2027 outlook

Q2 profit jumped 94%, beating expectations DOHOME's second-quarter 2026 profit rose 94% from a year earlier, with sales up 6.9% and gross margin widening to 20.2% from 18%. That is the clearest sign the company's earnings slump has ended, and it is the main reason brokers turned more positive on the stock.
The earnings jump is the core fundamental event that reset expectations for DOHOME this period.
Same-store sales turned positive, led by contractor and government work Same-store sales grew 4-6% in the third quarter, with back-office sales to contractors and government projects up 6-9%. Brokers see this as a genuine recovery, not just a low-base fluke, and several recommend accumulating the shares on that basis.
The return to positive same-store sales is the key operating trend driving broker upgrades and price support.
Post-flood home-repair demand expected to lift fourth-quarter sales Flooding in Bangkok and central Thailand is expected to be followed by a wave of home repair and renovation spending. DOHOME has 22% of its branches in Bangkok and its vicinity, so brokers name it among the retailers most likely to benefit once the water recedes.
Flood-driven repair demand is the main near-term catalyst brokers cite for DOHOME's fourth-quarter sales.
One broker keeps Sell, warning 2027 profit will fall Bualuang Securities kept a Sell rating and 3.20 baht target, forecasting 2027 core profit down 5% as new large-store openings are postponed, household and construction demand stays weak, and the government investment budget shrinks. It calls post-flood share gains a chance to sell.
This is the main counterweight: a broker arguing the recovery is temporary and 2027 earnings will decline.

September 202610 Sep – 30 Sep 2026

▲4

DOHOME upgraded on retail recovery and post-flood repair demand

CGSI flips DOHOME from Sell to Buy as top pick CGSI upgraded the Thai retail sector to Overweight and DOHOME from Sell to Buy, its top pick, citing the clearest demand recovery in three years. Building permits rose in early 2026 after long declines, so construction-material sales should recover from late 2026 into 2027.
This is the strongest new, company-specific reason for the stock's move and directly answers what is driving it.
Brokers name DOHOME a post-flood home-repair winner Kasikorn, Globlex, DBS Vickers and BLS all flagged DOHOME as a beneficiary once floodwaters recede, expecting repair and home-restoration demand to lift sales in the fourth quarter of 2026. BLS upgraded it to speculative buy. Near-term flooding still hurts store traffic.
This is the main new demand catalyst behind the period's price move, with a clear timing and a real near-term counterweight.
Government solar rooftop subsidy adds a new sales channel A 50-billion-baht household solar rooftop subsidy, opening for registration in mid-October 2026, was cited by Asia Plus as positive for DOHOME because it sells solar installation-related products. It could lift household demand and support revenue, though it is an extra opportunity rather than a core profit driver.
It is a new government demand programme that could add to DOHOME's sales, so it helps explain the positive backdrop.
Stimulus extension supports third-quarter profit growth The Finance Ministry extended the Thai Help Thai Plus Phase 2 co-payment scheme by two months, injecting up to 7.1 billion baht. Finansia Syrus expects DOHOME's third-quarter 2026 profit to grow around 35-45% year on year, helped by recovering same-store sales.
It is a new government cash injection that directly supports DOHOME's earnings and consumer spending.

10 Sep – 30 Sep 2026

▲4

DOHOME upgraded on retail recovery and post-flood repair demand

CGSI flips DOHOME from Sell to Buy as top pick CGSI upgraded the Thai retail sector to Overweight and DOHOME from Sell to Buy, its top pick, citing the clearest demand recovery in three years. Building permits rose in early 2026 after long declines, so construction-material sales should recover from late 2026 into 2027.
This is the strongest new, company-specific reason for the stock's move and directly answers what is driving it.
Brokers name DOHOME a post-flood home-repair winner Kasikorn, Globlex, DBS Vickers and BLS all flagged DOHOME as a beneficiary once floodwaters recede, expecting repair and home-restoration demand to lift sales in the fourth quarter of 2026. BLS upgraded it to speculative buy. Near-term flooding still hurts store traffic.
This is the main new demand catalyst behind the period's price move, with a clear timing and a real near-term counterweight.
Government solar rooftop subsidy adds a new sales channel A 50-billion-baht household solar rooftop subsidy, opening for registration in mid-October 2026, was cited by Asia Plus as positive for DOHOME because it sells solar installation-related products. It could lift household demand and support revenue, though it is an extra opportunity rather than a core profit driver.
It is a new government demand programme that could add to DOHOME's sales, so it helps explain the positive backdrop.
Stimulus extension supports third-quarter profit growth The Finance Ministry extended the Thai Help Thai Plus Phase 2 co-payment scheme by two months, injecting up to 7.1 billion baht. Finansia Syrus expects DOHOME's third-quarter 2026 profit to grow around 35-45% year on year, helped by recovering same-store sales.
It is a new government cash injection that directly supports DOHOME's earnings and consumer spending.