证券研究报告 行业研究 / 行业点评 2025 年 07 月 07 日 行业及产业 电子 强于大市 投资要点： 一年内行业指数与沪深 300 指数对比走势： 资料来源：聚源数据，爱建证券研究所 相关研究 《电子行业周报：AI Glasses 市场持续爆发— —2025/06/23-2025/06/27》2025-07-01 《电子行业周报：Switch 2 开启新一轮成长周 期——2025/06/16-2025/06/20》 2025-06-24 《电子行业周报： 低轨卫星市场正处于持续爆 发周期——2025/06/09-2015/06/13》 2025-06-16 《电子行业周报：EDA 限制升级，国产替代加 速——2025/06/02-2025/06/06》 2025-06-10 《Wolfspeed 陷入困境，国产 SiC 企业迎来发 展机遇——20250604 爱建电子行业周报》 2025-06-04 许亮 S0820525010002 0755-83562506 xuliang@ajzq.com 移动电源 3C 认证加速品牌龙头发展 ——电子行业周报（2025/6/30-7/4） 风险提示：1）国际 ...

齐鲁晚报.齐鲁壹点李梦瑶见习记者周雨婷 近期，"充电宝召回"事件引发社会对3C认证制度的广泛关注。记者调查发现，多个电商平台上，无3C 认证充电宝仍在流通，部分商家甚至通过伪造认证贴纸规避监管。 网上仍有售卖且价格低 有客服表示是库存产品 7月3日，记者在多个电商平台上发现，不少在售充电宝在商品详情页未标注3C认证信息。"未标注即无 3C认证。"一客服介绍，店内在售充电宝皆可当天发货。 受有无3C认证、容量等影响，充电宝产品价格不一。记者调查发现：这些无3C认证的充电宝售价较 低，多在20—50元/个，且多数无品牌标识。其中最便宜的一款充电宝，10000毫安容量售价仅17元。 值得注意的是，不少品牌的低价充电宝产品也标有3C认证，相关品牌产品简介上标有"3C认证、符合国 标""可上飞机"等广告语。不过，当问及"能否登机"时，相关客服则表示："需看当地政策管控，无法保 证。" 二手交易平台上，低价二手充电宝售卖情况更为普遍。不少充电售价6-15元/个，浏览量达数万人。一 位商家表示："充电宝容量20000-50000毫安，各类品牌都有，买家不能挑选，盲盒销售，保证能用。" 有的电商平台还专门设置了"3C安全认证 ...

Core Viewpoint - The new regulation from the Civil Aviation Administration, which prohibits boarding with mobile power banks lacking 3C certification, poses challenges for the charging bank industry while pushing for a balance between compliance, safety, and user experience [1][2]. Industry Response - The implementation of the new regulation has led to instances where users encounter functional devices being confiscated due to the absence of 3C certification, highlighting the issue of "compliance misfires" [1]. - Major brands like Ugreen are proactively addressing the situation by launching initiatives such as the "Ugreen Power Bank Trade-in" program, which allows users to exchange non-compliant products for subsidies, demonstrating corporate social responsibility [1][2]. Brand Actions - Ugreen completed the 3C certification for its mobile power banks before the enforcement of the new standards, positioning itself as one of the early adopters in the industry [2]. - The trade-in initiative reflects the brand's commitment to balancing social responsibility, environmental friendliness, and user experience, responding to user expectations for safety and service assurance [2]. Market Implications - The new regulation serves as an opportunity for the market, users, and brands to reassess the necessity and attainability of standardization in the industry [2]. - Leading manufacturers like Ugreen and Xiaomi are fostering a more mature, stable, and trustworthy development path for the industry through practical mechanisms [2]. Future Outlook - The focus on compliance and safety is expected to extend beyond power banks to other consumer electronics, emphasizing the importance of a closed loop around "certification compliance—safety empowerment—product recycling—re-experience" [2]. - The proactive actions taken by brands not only stabilize consumer confidence but also signify the emergence of a healthier industry ecosystem [2].

Core Viewpoint - The incident involving Romoss power banks highlights significant safety concerns regarding battery quality and certification standards in the consumer electronics industry, leading to regulatory actions and increased scrutiny on battery safety [2][21]. Group 1: Incident Overview - Romoss power banks were criticized for using substandard battery cells, resulting in multiple incidents of explosion and fire [2]. - Following the criticism, Romoss recalled approximately 50,000 potentially hazardous power banks and faced the revocation of its 3C certification [4][10]. - The Civil Aviation Administration of China issued a ban on carrying power banks without clear 3C certification on domestic flights, causing confusion among consumers [6][12]. Group 2: Certification Standards - The 3C certification, which stands for "China Compulsory Certification," was not initially applicable to power banks until August 2023, meaning many products sold prior lacked this certification [10]. - For a power bank to be allowed on flights, it must have a clear capacity label indicating it is under 100 watt-hours (Wh) and must not be part of any recall batch [12]. - Other certifications like CE (European market) and FCC (U.S. market) do not guarantee flight safety, as they focus on different compliance aspects [16][18]. Group 3: Industry Implications - The incident has prompted increased consumer awareness regarding battery safety across various electronic products, potentially leading to a decline in the market for low-quality products [22]. - Regulatory bodies are expected to enhance oversight on battery safety and may raise certification standards in response to the incident [24]. - The overall impact of this event could lead to improved safety standards in the consumer electronics sector, particularly concerning battery technology [24].

Core Viewpoint - The recent "power bank recall" incident has heightened consumer awareness of 3C certification as a key quality indicator for power banks, leading to increased sales of certified products in both offline and online markets [1][4]. Group 1: Market Response - Sales and inventory of power banks with 3C certification have surged, with some merchants reporting a threefold increase in both procurement and sales [3]. - Shenzhen's market regulatory authority has mandated a complete ban on the sale of non-3C certified power banks, resulting in most merchants removing uncertified products from their shelves [4]. - The demand for 3C certified power banks has led to a significant increase in wholesale orders, with some suppliers experiencing a backlog of nearly two weeks [9]. Group 2: Pricing and Compliance - As of August 1, 2024, lithium-ion batteries and power banks without 3C certification will not be allowed for production, sale, or import, which has prompted businesses to comply with these regulations [7]. - The price of 3C certified power banks is approximately 20 yuan higher than non-certified ones, attributed to compliance costs and the use of higher quality materials in core components [7]. - E-commerce platforms have reported a doubling in the demand for 3C certified power banks, with non-certified products being removed from listings [9].

Core Viewpoint - The recent crisis faced by Romoss highlights not only the company's internal issues but also systemic problems within the power bank industry, signaling a need for significant reform and quality improvement across the sector [2][4][6]. Company Summary - Romoss has been a major player in the global power bank market, holding approximately 27.18% market share alongside brands like Anker and Xiaomi [2]. - Following a series of operational disruptions starting July 1, Romoss has informed employees of work stoppages and has only paid salaries up to June, indicating severe financial distress [2]. - Despite rumors of bankruptcy, Romoss publicly denied these claims, asserting that it has not gone out of business [2]. Industry Summary - The power bank industry is currently facing a significant recall crisis, with over 2 million units recalled globally, including products from Anker, due to safety issues linked to battery cells from a major supplier, Amperes [3]. - The industry has been plagued by regulatory delays, with the implementation of mandatory CCC certification only starting in August 2023, leaving many products without proper safety certification [4]. - Intense price competition has led to a lack of focus on safety, with many manufacturers entering the market without significant technological barriers, resulting in a chaotic SKU environment and low brand loyalty among consumers [4][5]. - The push for fast charging technology has introduced additional safety risks, as increased current and voltage can lead to thermal runaway in battery cells, particularly when low-cost components are used [5]. - The current situation may serve as a precursor to a broader industry shakeout, where only companies that prioritize quality, brand integrity, service, and technological innovation will survive in the next decade [6][7].

近期，"充电宝召回"事件引发广泛关注，3C认证已成为消费者衡量充电宝品质的关键指标，国内部分 机场也加强了对充电宝3C标识的查验力度。记者探访发现，线下市场和电商平台带有3C标识的充电宝 产品销量都出现增长。记者在几大电商平台发现，在售的充电宝产品均已带有3C认证标识，无3C认证 的充电宝已经被禁止上架销售，部分商家库存告急。(央视财经) ...

罗马不是一天建成的，但罗马仕的倒塌近乎在一瞬间。 一场始于高校的充电宝风波让罗马仕深陷泥潭，首批获3C认证的罗马仕，面临"至暗时刻"。召回49万件移动电源没能平息这场风波，在机场充电宝乘机"新 规"之后愈演愈烈。 7月3日晚间，罗马仕倒闭等消息不胫而走。当日深夜，罗马仕在官方微博上回应，"没有倒闭，感谢关心。定将努力解决所有朋友、用户及合作伙伴一切问 题。" 认真生活，快乐工作 | Lin hassly, has and 认真生活、快乐工作 认真生活,快乐工作 Live happly, happy work 0 REAS - REA MIASA 0 Pur - 115 21411 B 7月4日，新京报贝壳财经记者联系罗马仕求证上述消息，电话未能接通。 同日中午，新京报贝壳财经记者了解到，位于深圳国际创新谷三期7栋B座的罗马仕深圳总部仍有员工在正常办公。但从进入大厦一楼开始，就有保安要求 刷脸进入，员工集中在16层-18层办公，15层已经被清空。罗马仕的员工和保安对每一个外来人员保持谨慎，有工作人员称，"一切以官方回复为准。" 7月4日，深圳国际创新谷三期7栋B座，罗马仕公司楼下。 新京报贝壳财经记者张晗 摄 ...

近期，全国机场严格执行"无3C认证充电宝禁飞"新规，引发广泛关注。 "目前无广泛的厂商回收计划或专门针对个人的政府合作电子废弃物处理渠道，个别地方可能有，可能 需要咨询当地相关部门。"张毅提示道。 新充电宝怎么选？ 为何加强管控？淘汰的充电宝如何安全处理？选购新充电宝要注意什么？ 专家认为，3C认证是中国强制性产品认证，类似于产品的"安全身份证"，而充电宝属于强制认证产 品，须获认证证书并加施3C标识才能上市。 为何要管控无3C标识充电宝？ 张毅建议，新购买时先看标识(白底黑字、有激光防伪、字母排列整齐)，也可以在国家认证认可监督管 理委员会官网，查认证编号辨真假。正品标识印刷清晰、字体工整、边缘整齐，标注内容与说明书一 致。 主要是怕不安全。近年来，充电宝自燃、冒烟等安全事故频发，尤其是在航空运输中极易引发安全隐 患。 "劣质电芯风险大。"艾媒咨询首席执行官张毅在接受记者采访时表示，无3C认证的充电宝，大多存在 高温耐受性差、短路及过充保护不足等问题。航空运输中，因电池缺陷、旅客不当使用、飞行环境变化 等，易引发异常发热、冒烟甚至起火。"不光坐飞机有风险，平常使用也不踏实。" "无标充电宝"咋处理？ 尽管国 ...

在充电宝行业"洗牌"的背景下，7月3日，记者走访了被誉为"中国电子第一街"——深圳华强北，发现 绝大多数商户已经撤下未带3C认证标识的充电宝产品 。 7月1日，深圳市场监管局华强北监管所向辖区内各市场下发通知， 要求"全面禁售无3C认证充电宝" 。 3日上午，深圳市场监管局到华强北市场进行了进一步巡查。 绝大多数商家都表示，已将所有不合规充电宝全部下架退回厂商，目前店内仅售卖含3C认证标识的充 电宝，记者在走访过程中发现， 充电宝"3C认证"已经成为一大卖点 。虽然价格更高，但不少消费者都 明确表示，只购买3C认证的充电宝产品。业内人士表示，充电宝产品的强制性3C认证，对行业是一次 大洗牌。 一些坚持销售3C认证充电宝的商户，因为不受低价产品的冲击，最近生意明显变好，营业额 比上个月翻了好几番。 3C认证，即中国强制性产品认证制度，充电宝行业的3C认证始于2023年。 市场监管总局要求，所有锂 电子的充电宝产品从2024年8月1日起需要获得3C的认证证书和标注认证标识 ，否则就不能够出厂、销 售、进口或者在其他的经营活动当中使用。 来源：央视财经（ID：c c t v y s c j） 关注" 新华网财经 " ...