（文章来源：证券日报） 证券日报网讯 12月3日，TCL科技在互动平台回答投资者提问时表示，展望2026年，在体育赛事的催化 下，预计电视面板需求，尤其是大尺寸电视面板需求将得到较好拉动。 ...

Market Overview - The Shanghai Composite Index fell by 0.51% on December 3rd, with six industries rising, led by transportation and non-ferrous metals, which increased by 0.69% and 0.63% respectively. The media and computer sectors experienced the largest declines, down by 2.86% and 2.26% respectively [2] Capital Flow Analysis - The net outflow of capital from the two markets reached 57.883 billion yuan, with only three industries seeing net inflows. The non-ferrous metals industry had a net inflow of 4.407 billion yuan, followed by coal with 0.235 billion yuan, and transportation with 0.00533 billion yuan [2] - A total of 28 industries experienced net outflows, with the computer industry leading with a net outflow of 9.185 billion yuan, followed by the electronics industry with an outflow of 8.163 billion yuan. Other industries with significant outflows included power equipment, communication, and media [2] Electronics Industry Performance - The electronics industry declined by 0.93%, with a total net outflow of 8.163 billion yuan. Out of 471 stocks in this sector, 95 rose, including 5 that hit the daily limit, while 368 fell [3] - Within the electronics sector, 115 stocks saw net inflows, with 14 stocks receiving over 100 million yuan. The top inflow was from BOE Technology Group, which attracted 1.134 billion yuan, followed by Huaying Technology and TCL Technology with inflows of 0.940 billion yuan and 0.743 billion yuan respectively [3] - The stocks with the largest net outflows included Sai Microelectronics, Shannon Microelectronics, and Changying Precision, with outflows of 1.125 billion yuan, 0.841 billion yuan, and 0.807 billion yuan respectively [3][5] Top Gainers in Electronics - The top gainers in the electronics sector included: - BOE Technology Group: +3.87%, turnover rate 3.54%, net inflow 1.134 billion yuan - Huaying Technology: +10.02%, turnover rate 18.93%, net inflow 0.940 billion yuan - TCL Technology: +4.08%, turnover rate 3.93%, net inflow 0.743 billion yuan [4] Top Losers in Electronics - The top losers in the electronics sector included: - Sai Microelectronics: -19.56%, turnover rate 32.06%, net outflow -1.125 billion yuan - Shannon Microelectronics: -2.99%, turnover rate 8.13%, net outflow -0.841 billion yuan - Changying Precision: -6.35%, turnover rate 11.37%, net outflow -0.807 billion yuan [5]

企查查APP显示，近日，苏州东熹股权投资合伙企业（有限合伙）成立，出资额3.01亿元，经营范围包 含：股权投资；创业投资（限投资未上市企业）。企查查股权穿透显示，该企业由TCL科技旗下惠州市 东燊嘉岸股权投资合伙企业（有限合伙）等共同出资。 ...

格隆汇12月3日丨TCL科技(000100.SZ)在投资者互动平台表示，2026年是体育赛事大年，包括冬奥会、 世界杯等。 根据公开信息，世界杯将于2026年6月至7月在美国、加拿大和墨西哥三国联合举办，系世 界杯历史上首次由三个国家共同承办。同时，世界杯参赛队伍由上届的32支扩容到48支，比赛场次由64 场增加至104场，赛程时间由30天增加至40天，参赛队伍数量、比赛场次和赛程时间均创下历史之最， 将覆盖到全球更多的线上、线下观赛人群。 因此， 展望2026年，在体育赛事的催化下，预计电视面板 需求，尤其是大尺寸电视面板需求将得到较好拉动。 来源：格隆汇APP ...

格隆汇12月3日丨TCL科技(000100.SZ)在投资者互动平台表示，过去几年，电视大尺寸化带来需求面积 的稳定增长，而行业供给侧产能则保持相对稳定，根据第三方机构数据，大尺寸LCD稼动率中枢逐年提 升，行业供需缺口显著收敛。 当前来看，由于明年是体育赛事大年，包括冬奥会和有史以来规模最大 的世界杯，下游品牌已逐渐开始备货，根据第三方机构预测，后续面板报价有望企稳回升。 ...

格隆汇12月3日丨TCL科技(000100.SZ)在投资者互动平台表示，2026年是体育赛事大年，包括冬奥会、 世界杯等。 根据公开信息，世界杯将于2026年6月至7月在美国、加拿大和墨西哥三国联合举办，系世 界杯历史上首次由三个国家共同承办。同时，世界杯参赛队伍由上届的32支扩容到48支，比赛场次由64 场增加至104场，赛程时间由30天增加至40天，参赛队伍数量、比赛场次和赛程时间均创下历史之最， 将覆盖到全球更多的线上、线下观赛人群。 因此， 展望2026年，在体育赛事的催化下，预计电视面板 需求，尤其是大尺寸电视面板需求将得到较好拉动。 ...

格隆汇12月3日丨TCL科技(000100.SZ)在投资者互动平台表示，2026年是体育赛事大年，包括冬奥会、 世界杯等。 根据公开信息，世界杯将于2026年6月至7月在美国、加拿大和墨西哥三国联合举办，系世 界杯历史上首次由三个国家共同承办。同时，世界杯参赛队伍由上届的32支扩容到48支，比赛场次由64 场增加至104场，赛程时间由30天增加至40天，参赛队伍数量、比赛场次和赛程时间均创下历史之最， 将覆盖到全球更多的线上、线下观赛人群。 因此， 展望2026年，在体育赛事的催化下，预计电视面板 需求，尤其是大尺寸电视面板需求将得到较好拉动。 ...

关联产品： 全指现金流ETF鹏华（512130） 关联个股： 截至12月03日14:15，全指现金流ETF鹏华（512130.SH）上涨0.75%，其关联指数中证现金流 （932365.CSI）上涨0.65%；主要成分股中，中国铝业上涨4.25%，TCL科技上涨4.08%，洛阳钼业上涨 2.33%，云铝股份上涨4.77%。 今日，有色金属板块涨幅居前，带动全指现金流ETF鹏华（512130.SH）关联指数中证现金流 （932365.CSI）成分股表现活跃，其中中国铝业、云铝股份分别上涨4.25%和4.77%，TCL科技、洛阳钼 业涨幅超2%。板块走强或受大宗商品价格波动及供需预期改善影响。 券商研究方面，湘财证券指出年末红利资产行情具备韧性，煤炭、石油石化等行业因供需格局改善及高 股息特性成为配置重点。其研报显示，煤炭行业受益于冬储补库逻辑，头部企业现金流充裕且股息率维 持高位。 有机构指出，维持A股年末休整期的判断，短期涨跌空间有限，建议以守为攻，风格上强调平衡配置， 适当关注回调充分且产业逻辑清晰的成长类品种。期待市场在12月重磅会议前后逐步企稳，明年一季度 有望迎来向上合力，春季躁动提前，科技成长和资源 ...

上市企业：美的集团（000333）,海尔智家（600690）,格力电器（000651）,海信家电（000921）,惠而浦 （600983）,创维数字（000810）,TCL科技（000100）,深康佳Ａ（000016）,长虹美菱（000521） 相关报告：智研咨询发布的《2025-2031年中国智能冰箱行业市场全景调研及发展趋向研判报告》 根据国家统计局数据显示：2025年9月中国家用电冰箱(家用冷冻冷藏箱)产量为1013万台，同比下降 2%；2025年1-9月中国家用电冰箱(家用冷冻冷藏箱)累计产量为8035.2万台，累计增长1.5%。 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 数据来源：国家统计局，智研咨询整理 2020-2025年1-9月中国家用电冰箱(家用冷冻冷藏箱)产量统计图 ...

Group 1: Core Insights - The Greater Bay Area (GBA) is positioned to become a global center for consumer electronics, driven by young entrepreneurs in the 2C sector, supported by its industrial cluster, market potential, and entrepreneurial ecosystem [1][2] - The GBA's participation in the CES has significantly increased, with over 50% of Chinese exhibitors coming from the region, showcasing a shift from scattered startups to a cohesive group of over 40 companies [2] - The GBA's consumer electronics industry benefits from a vast market opportunity, with a 20% gap in consumer spending as a percentage of GDP compared to developed economies, representing a trillion-dollar market potential [2] Group 2: Innovation Ecosystem - The GBA has established a comprehensive innovation ecosystem characterized by "one location, multiple schools, one platform, and one park," fostering entrepreneurship through project-based learning and collaboration with over 20 universities [3] - This ecosystem has nurtured over 270 companies, with some unicorns valued at over $50 billion, gaining international recognition for its development model [3] Group 3: Challenges for Chinese Companies Going Global - Chinese companies face significant challenges in international markets, with a decline in overseas affiliates and a 38% increase in bankruptcies among foreign affiliates from 2024 [3][4] - The average recovery period for overseas projects has extended from 5.2 years to 7.8 years, with over 60% of companies experiencing "investment silence" [3] Group 4: Cultural and Regulatory Barriers - Cultural differences and regulatory barriers are major obstacles for Chinese companies abroad, as illustrated by TCL's struggles in Vietnam and India due to policy changes and market conditions [4] Group 5: Long-term Opportunities - Despite challenges, there is a consensus that the trend of Chinese companies going global will continue, with systemic competitiveness emerging as a new advantage [5] - Companies like TCL and UBTECH demonstrate the value of long-term investment strategies and the importance of adapting to local markets [5] Group 6: Capacity Building - Building cultural understanding and regulatory knowledge is crucial for success in international markets, with companies encouraged to adopt an altruistic mindset and focus on ecosystem development rather than just product sales [6] - Compliance costs should be viewed as necessary investments, and companies need to establish specialized teams to navigate market regulations effectively [6]