核心观点2025 年上半年家电板块受困于关税加征扰动、以旧换新政策波动以及下半年高基数预期,整体跑输沪深300。展望2025 年下半年,各地国补政策调整是为了解决前期暴露出的节奏失衡与资金配置问题,透支效应对年度销售的影响有限,同时外销的关税加征影响存在,但是中国家电出口仍有韧性,白电板块的景气度仍存。黑电的国内外结构升级趋势明显,国产双雄有望抢占高端市场份额实现产品结构升级与利润率提升。清洁电器...
Source LinkDisclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.