1月9日，港交所公布2025年四季度末陆股通的持股情况。从2025年全年看，北向资金买卖总额大幅增 长，ETF成交额突破8000亿元，期末持股市值突破2.5万亿元，持股偏好向硬科技及有色金属板块倾 斜，重仓股迎来大洗牌。 亮点一：持股市值创出历史次高 陆股通是境外资金布局内地资产的重要渠道，虽然北向资金持股按季度进行公布，但其市场关注度始终 居高不下，更成为龙虎榜"常客"。 根据数据，截至2025年末，北向资金持有A股数量合计近1080亿股，持股数连续4年超过1000亿股。按 年末收盘价计算，北向资金期末持股市值再度突破2.5万亿元，达到2.59万亿元，创出历史次高（仅次于 2021年），较上一年末增长近20%。若纳入ETF的持仓，北向资金对A股的持仓规模将更高。 从各个季度数据看，北向资金自2025年一季度起持股市值连续4个季度增加，但持股数量有所下降，这 与北向资金调仓、持股公司股价变动有一定关系。 亮点二：买卖总额首次突破50万亿元 2025年以来，中国在科技领域持续取得突破，大模型、人形机器人、量子计算、可控核聚变等前沿科技 领域均取得新的进展，全球投资者清晰看到中国资产在硬核科技赛道的核心竞争力，北 ...

以下文章来源于金错刀 ，作者张一弛 金错刀 . 科技商业观察家。爆品战略提出者。 来源丨金错刀 （ID： ijincuodao ） 作者丨 张一弛 编辑丨博文 图源丨Midjourney 十年前，所有人出门必备的三件套是：钱包、钥匙和手机。 十年后，也许只带一部手机就够了。 钱包被手机支付所替代，至于出门不用带钥匙则要多亏了智能锁的大爆发。2025 年，智能锁彻底走进大众视野，中国智能锁市场一线城市的渗透率已经高 达 40% 以上。 而到底给家里装一个什么样的门锁，成为了装修的最大考验。 从当年被吐槽 " 人工智障 " 的初代产品，到如今能识人、会联动、懂预判的 AI 智能锁。 甚至还有年轻人爆改智能锁，把整个门换成电子大屏，在门口就情绪价值拉满：总裁欢迎回家。 上千家大厂 集体盯上"你家门口"的生意 智能锁到底是智能还是智障，早年一直是个争论不休的话题。 2023年底，"杭州检察"发布了一则窃贼通过观察密码锁使用痕迹，推测出门锁密码实施盗窃的案例。 窃贼专挑密码门锁下手，不断尝试数字排列，试开了别人家的门锁。类似，也有"指纹膜"、"复制卡"等新式非法开锁案件发生。 有意思的是，一边是第一批尝鲜的年轻人在社交 ...

证券之星消息，1月12日白色家电板块较上一交易日下跌0.62%，美的集团领跌。当日上证指数报收于 4165.29，上涨1.09%。深证成指报收于14366.91，上涨1.75%。白色家电板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 001387 | 雪祺电气 | 14.41 | 1.55% | 6.12万 | | 8730.01万 | | 000521 | 长虹美菱 | 6.77 | 1.35% | 13.76万 | | 9271.12万 | | 000016 | 深康佳A | 5.13 | 1.18% | 49.55万 | | 2.53亿 | | 000921 | 海信家电 | 24.91 | 0.73% | - 10.73万 | | 2.67亿 | | 600690 | 海尔智家 | 26.20 | 0.58% | 43.36万 | | 11.33亿 | | 600336 | 澳柯玛 | 8.35 | 0.48% | 22.80万 | | 1.88Z ...

Core Viewpoint - The market is expected to gradually refocus on the consumer sector due to the recovery of high-end consumption and certain mass-market products, along with the implementation of national subsidy policies and funding demands for "high-cut low" strategies [1] Group 1: Market Trends - High-end consumption, including luxury goods and gambling, shows improvement in demand, while some mass consumer goods like beer and dairy products are experiencing governance and structural enhancements [3] - The long-term policy encouragement and low interest rate environment are expected to boost equity allocation dynamics, particularly in high-dividend, stable performance stocks with valuation advantages [1][2] Group 2: Investment Opportunities - Companies with strong global competitive power, particularly in the white goods sector, are enhancing their operational models and supply chains, which is expected to positively impact overall performance [2] - The selected consumer sector stocks have an average dividend yield of over 5% and a projected PE ratio of 13X for 2026, indicating potential for long-term investment [4]

Investment Rating - The report maintains a positive outlook on the home appliance sector, highlighting the potential for undervalued leading companies with high dividends and stable growth attributes [6]. Core Insights - The home appliance sector is experiencing a mixed performance, with air conditioning sales declining significantly while washing machines show growth in exports. The report emphasizes the importance of leading brands like Midea, Gree, and Haier in navigating market challenges and capitalizing on emerging opportunities [6][36][43]. Summary by Sections Air Conditioning - In November 2025, the air conditioning industry produced 10.577 million units, a year-on-year decrease of 36.70%. Total sales reached 10.492 million units, down 31.80%, with domestic sales at 4.052 million units (down 39.80%) and exports at 6.44 million units (down 25.60%). Midea led the market with a 36.20% share, followed by Gree at 19.50% [2][36][38]. Refrigerators - The refrigerator sector saw a slight overall decline, with production at 8.257 million units (down 3.9%) and sales at 8.0531 million units (down 2.99%). Domestic sales fell to 3.5611 million units (down 15.59%), while exports increased to 4.492 million units (up 10.04%) [2][40][41]. Washing Machines - The washing machine industry reported production of 8.605 million units (up 8.2%) and sales of 8.4619 million units (up 7.61%). Domestic sales were 4.0565 million units (down 5.47%), while exports rose to 4.4054 million units (up 23.31%) [3][43]. Market Performance - The home appliance sector underperformed compared to the broader market, with the sector index rising 2.3% against a 2.8% increase in the CSI 300 index. Key performers included Rongtai Health (up 15.7%) and Yitian Intelligent (up 11.2%), while companies like Lek Electric and Feike Electric faced declines [5][9]. Industry Dynamics - Notable developments include Stone Technology's CES debut of the G-Rover robot vacuum, showcasing advanced cleaning capabilities, and Kaineng Health's acquisition of subsidiaries from Yuaneng Group for 204 million yuan [5][12][13]. Investment Themes - The report identifies three main investment themes: 1. Leading white and black appliance companies with low valuations and high dividends. 2. Upstream core component manufacturers diversifying into robotics and new tech sectors. 3. Strong demand in emerging markets for home appliances, driven by favorable trade conditions [6].

Investment Rating - The report maintains a positive outlook on the home appliance sector, highlighting the potential for growth in leading companies due to their low valuations, high dividends, and stable growth attributes [6]. Core Insights - The home appliance sector has shown mixed performance, with air conditioning sales declining significantly while washing machine exports continue to grow. The report emphasizes the resilience of leading brands in navigating market challenges and capitalizing on emerging opportunities [5][6]. - The report identifies three main investment themes: the undervaluation and growth potential of leading white and black appliance companies, the technological advancements in core component manufacturers, and the strong demand for small appliances in international markets [6]. Summary by Sections Air Conditioning - In November 2025, the air conditioning industry produced 10.577 million units, a year-on-year decrease of 36.7%. Total sales reached 10.492 million units, down 31.8%, with domestic sales falling by 39.8% and exports declining by 25.6%. Midea led the market with a 36.2% share, followed by Gree at 19.5% [2][41]. Refrigerators - The refrigerator sector saw a slight overall decline, with production at 8.257 million units, down 3.9% year-on-year. Sales totaled 8.0531 million units, a decrease of 2.99%. Domestic sales dropped by 15.59%, while exports increased by 10.04% [2][43]. Washing Machines - The washing machine industry experienced growth, with production reaching 8.605 million units, up 8.2% year-on-year. Sales were 8.4619 million units, an increase of 7.61%. Domestic sales fell by 5.47%, but exports surged by 23.31% [3][47]. Industry Dynamics - Notable developments include the CES debut of the G-Rover robot vacuum by Stone Technology, showcasing innovative cleaning technology, and the acquisition of subsidiaries by Kaineng Health, indicating strategic expansion efforts [5][12][13]. Component Data - In November 2025, the sales of rotary compressors decreased by 13.6%, while the sales of refrigerator compressors increased by 7.2%. The report highlights the contrasting performance of different components within the appliance sector [23][32].

Investment Rating - The industry investment rating is "Overweight" [5][9] Core Insights - The report highlights Midea's acquisition of Carestream Health's global business, which is expected to create synergies with Midea's existing medical business in terms of channels and equipment resources [5][6] - The consumer robotics sector is advancing towards embodied intelligence, with a notable decline in domestic supply chain substitution expected [2][4] - The report emphasizes the performance of major brands in the vacuum cleaner market, noting a significant sales decline for some brands while others, like Roborock, have shown growth [2][3] Summary by Sections White Goods - Midea's acquisition of Carestream Medical's global business is expected to enhance its existing medical operations through effective resource synergy [5][6] Consumer Robotics - December sales data shows a year-on-year decline of 29% for the overall market, with leading brands like Ecovacs and Roborock experiencing varying sales changes [2] - New product launches at CES include Roborock's G-Rover, which is the world's first stair-climbing vacuum robot, and Ecovacs' T90 pro omni, which features upgraded roller lengths and new pre-spray functions [3] Laser Technology in Robotics - Hesai Technology announced that it will lead the market in 3D LiDAR shipments for lawn mowing robots by 2025, showcasing its new models at CES 2026 [4] - The integration of digital all-solid-state LiDAR in new lawn mowing robots was highlighted by Ninebot and other companies [4] Investment Recommendations - The report recommends focusing on white goods, particularly Haier, Midea, and Gree, due to their strong market positions and potential benefits from the current economic environment [7] - It also suggests selecting consumer technology stocks like Ecovacs and others, while keeping an eye on companies like TCL Electronics for overseas growth opportunities [7]

重仓股数据表明，北向资金持仓依旧以核心资产龙头股为主。截至2025年四季度末，宁德时代成为北向资金的头 号重仓股，持股市值高达2543.43亿元，远超排名第二的美的集团的770.49亿元。美的集团、贵州茅台、招商银 行、紫金矿业等个股紧随其后。不过，由于食品饮料板块全年股价表现较弱，贵州茅台在北向资金持仓组合中的 排名进一步下滑。此外，北向资金前十大重仓股还包括北方华创、中际旭创、汇川技术、中国平安、立讯精密。 对比2024年末，紫金矿业、北方华创、中际旭创、立讯精密新晋北向资金持股市值前十名单，而长江电力、迈瑞 医疗、国电南瑞、比亚迪则掉出前十，持仓结构调整明显。 行业分布上，Wind数据显示，截至2025年末，在31个申万一级行业中，电力设备、电子和有色金属成为北向资金 重仓的前三大板块。而2024年末，北向资金重仓的前三大板块为电力设备、银行、食品饮料，行业偏好有所转 变。从单个季度变化来看，2025年第四季度北向资金持仓市值增加最多的行业分别是有色金属、通信和基础化 工。个股方面，除了紫金矿业、中国铝业、江西铜业等资源类龙头受到青睐，北向资金持有中国平安及招商银行 等金融股的市值增幅也较为明显。截至2 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 二、合伙人持股计划出售情况及后续安排 美的集团股份有限公司 关于合伙人持股计划股票出售完毕暨 终止的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 美的集团股份有限公司（以下简称"公司"或"美的集团"）核心管理团队持股计划暨"美的集团全球合伙 人计划"之第八期持股计划（以下简称"第八期全球合伙人持股计划"）和核心管理团队持股计划暨"美的 集团事业合伙人计划"之第五期持股计划（"第五期事业合伙人持股计划"）已经2022年4月28日和2022年 5月20日召开第四届董事会第七次会议和2021年年度股东大会审议通过。依据第八期全球合伙人持股计 划及第五期事业合伙人持股计划持有人会议决议，成立持股计划管理委员会，代表持股计划持有人行使 股东权利，对本持股计划进行日常管理，并通过非交易过户的方式受让公司回购专用证券账户股份。 截至本公告披露日，第八期全球合伙人持股计划和第五期事业合伙人持股计划持有股份已通过集中竞价 的交易方式全部出售完毕。根据中国证券监督管理委员会《关于上市公司实施员工持股计划试点的指导 意见 ...

证券日报网讯1月9日，美的集团（000333）在互动平台回答投资者提问时表示，公司是一家全球运营的 企业，在国内海外均设有制造基地。截至2025年6月30日，公司在全球设有63个主要制造基地，其中41 个位于海外。 ...