年初至今行情回顾:也无风雨也无晴2025 年以来家电板块表现受关税及风格压制,而年初至6 月5 日累计小幅上涨0.1%,跑赢沪深300 指数1.6pct,位居一级行业第17 位;过去20 年同期板块跑赢沪深300 指数16 次,高胜率底色不改。内外销预期向好,估值股息率优势依旧。白电:内外预期向好,龙头策略积极我们预计白电后续内需环境向好,出货端基数走低,环比趋势或向上,5 月以旧换新资金使用进度...
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