GUOSHENG SECURITIES(SZ:002670) 智通财经网·2026-01-08 06:45Group 1: Home Appliance and Light Industry Investment Opportunities - The home appliance and light industry should focus on four investment themes by 2026: 1) The white goods sector, supported by trade-in policies, is expected to have good allocation value due to its dividend yield; 2) The power bank industry is anticipated to improve due to new regulations, while the domestic hardware market share is set to rise [1] - The white goods sector has strong defensive attributes and offers good value in terms of dividend yield. Midea Group's B-end business, particularly in data center liquid cooling, shows significant growth potential, with its current P/E ratio being relatively low [1] - Haier Smart Home is enhancing its competitive edge through a new operational system focused on "data-driven intelligent decision-making and closed-loop optimization" [1] - The power bank industry is expected to see improved market conditions with the upcoming release of the "Mobile Power Safety Technical Specification" in Q1 2026, which will raise industry standards and potentially eliminate many white-label brands [1] Group 2: Consumer Trends and New Market Opportunities - The "lipstick effect" and social currency attributes are driving demand for emotional consumption, with the IP-based spiritual consumption sector in China experiencing rapid growth and increasing supply of domestic IPs [2] - Companies like Pop Mart, which have strong IP operation capabilities, and Blukoo, which has significant room for channel expansion, are recommended [2] - The folding bicycle market is gaining traction due to its convenience and efficiency in urban settings, with Dahan Technology leading the industry in mainland China [2] - The consumer-grade 3D printer market is evolving from a niche tool for professionals to a widely accessible device, with Chuangxiang Sanwei expected to list on the Hong Kong Stock Exchange [2] Group 3: Export Chain Recovery and New Product Opportunities - The Chinese home appliance and light manufacturing industry remains globally competitive, with a focus on companies that have strong product and channel development capabilities and overseas factories to mitigate tariff risks [3] - New product opportunities include pool cleaning robots, which have significant room for market penetration, and companies like Wangyuan Technology are expected to list on the Hong Kong Stock Exchange [3] - There is a focus on multinational hygiene product companies like Leshushi that are targeting rapidly developing emerging markets in Africa, Latin America, and Central Asia [3]