Core data interpretation: First, the national subsidy policy has a significant implementation effect. In 2026, the central government included the installation of elevators in old communities into the scope of large-scale equipment renewal policy support, and arranged special subsidy funds of 18 billion yuan. As of the end of March 2026, 28 provinces and cities nationwide have issued supporting implementation rules. After superimposing local financial subsidies, the maximum subsidy for a single elevator can reach 200,000 yuan; Second, regional distribution, East China accounts for 38%, South China 21%, North China 16%, Central China 12%, Southwest China 8%, Northwest and Northeast China 5%. Jiangsu, Zhejiang, Guangdong, Shandong, and Sichuan are the top five provinces and cities in terms of construction volume; Third, model innovation, the proportion of "construction on behalf and lease" and "shared elevator" models has increased to 32%. Owners do not need to pay a one-time investment, only need to pay monthly rent to use the elevator, greatly reducing the installation threshold; Fourth, fund source structure, central financial subsidy accounts for 38%, local financial matching 32%, housing provident fund 15%, special residential maintenance funds 10%, owner self-raised 4%, social capital 1%. Financial subsidies have become the core source of funds; Fifth, market scale forecast, the national market scale of elevator installation in existing residences is expected to exceed 35 billion yuan in 2026, a year-on-year increase of more than 45%. In the next 3 years, the national demand for elevator installation will exceed 300,000 units, and the market scale will exceed 100 billion yuan.