家电行业2025年三季报综述:收入韧性 盈利优化

长江证券
Nov 14

整体:收入稳健增长,盈利能力提升2025 年前三季度家电行业营收实现中高个位数增长, 其中Q1/Q2/Q3 分别+13.97%/+5.46%/+3.59%,节奏上呈现逐季放缓趋势,主要受下半年国补退坡以及边际效应减弱影响。盈利层面,2025 年前三季度行业归母净利润同比近双位数增长,其中Q3 同比增长4.22%,盈利能力延续提升。白电:收入稳健增长,盈利保持平稳2025 年前三季度白电行业营收同比...

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