TOPSPORTS(HK:06110) Hua Yuan Zheng Quan·2025-12-24 09:41Group 1: Power and Environmental Industry - The core viewpoint highlights the significant power supply shortage in the U.S. due to increased computing power investments, with OpenAI raising its investment scale to 250GW by 2033 and peak electricity demand expected to exceed 1000GW by 2030, up from approximately 820GW currently [2][5] - The report suggests that the power generation side will rely on gas power, nuclear power, energy storage, and SOFC as emergency measures, with a projected electricity gap of 182GW or 89GW depending on whether existing units are retired by 2030 [6] - It is anticipated that U.S. grid investments will increase significantly, with projections of reaching $30 billion in 2024 and $43.4 billion by 2027, creating export opportunities for domestic companies [7] Group 2: Home Appliance Industry - The report on Tabo (06110.HK) indicates a high single-digit decline in retail sales for Q3 FY25/26, aligning with expectations, and a reduction in store closures is anticipated for FY26 compared to FY25 [11][12] - Nike's revenue in the Greater China region has decreased by 16% year-on-year, prompting the company to collaborate closely with distributors like Tabo to address inventory issues and enhance brand image through targeted strategies [11][12] - The introduction of new brands such as Soar and NORRONA is expected to diversify Tabo's offerings and expand its customer base, potentially driving new revenue growth [12]