证券日报网讯 12月11日晚间，小熊电器发布公告称，公司分别于 2025 年 10 月 29 日和 2025年 11 月 18 日召开了第三届董事会第二十次会议和 2025 年第一次临时股东大会，审议通过了《关于变更公司注册 资本及修订〈公司章程〉的议案》，同意将公司注册资本变更为人民币 157，286，503 元，并同意修订 《公司章程》。近日，公司完成了上述工商变更登记及章程备案手续，并取得了佛山市顺德区市场监督 管理局换发的《营业执照》。 （文章来源：证券日报） ...

跨境合规壁垒、多区域协同低效、本地化适配不足…… 在2025全球创见者大会——全球化研讨会的圆桌交流环节，这类关键词被反复提及，精准点出了企业跨洋经营的核心痛点。而金蝶以数智技术为核心搭建 的全球化服务体系，正成为众多企业突破瓶颈的关键支撑。 企业的全球化数智突围 1. 卓力集团：世界电熨斗大王的全球协同革命 卓力集团是全球小家电领域顶级ODM制造商，享有 "世界电熨斗之王" 称号。此前企业长期受困于"多事业部数据孤岛""海外供应链响应滞后""跨境税务 核算复杂"等问题，效率与合规风险并存。 卓力集团总裁办主任王捷分享到，卓力与金蝶合作已超20年，从K3系统升级至AI星空，双方协同打通总部与东南亚生产基地的信息链路，实现订单、库 存数据实时同步，东南亚订单交付效率显著提升；接入跨境税务合规工具后，申报流程简化，合规处理效率改善；多准则记账功能则缩短了海外财务报表 出具周期。值得一提的是，依托金蝶系统，卓力实现CRM、ERP与AEO系统无缝切换，成品出货环节可全链路穿透追溯，仅需半天便完成了AEO认证。 3.FPT：全球科技巨头的资源调度破局 FPT是全球科技领域重量级企业，业务遍及30个国家，员工规模达8万人 ...

资产交易市场，信息瞬息万变，消息真假难辨，即使买卖双方花费大量的时间、精力，推动成交往往困 难重重。为了能够帮助买卖双方更快速链接市场信息和潜在交易对手，避免不必要的投入与浪费，我们 特地打造了这样一档栏目。 资产规模：约3000-5000万美元 交易方式：老股份额和LP份额均可接受，具体看价格和架构 联系方式：zcjy@36kr.com 2、转让持有沃飞科技股份的基金LP份额（预期估值面议） 卖家性质：直接卖家 交易价格：预期估值面议 资产规模：约2000-3000万份额 本文是这个栏目的第175期。如果你对本文提到的相关的交易线索感兴趣，希望接触这些潜在的交易对 手，或者如果你手中直接握有希望交易的资金或者资产，欢迎与我们联系。（邮箱：zcjy@36kr.com） 一、本月新增 1、求购SpaceX公司老股份额（预期估值面议） 交易价格：预期估值面议，市场公允价格即可 交易方式：LP份额，有管理费和carry 3、求购新凯来公司老股份额（预期估值面议） 交易价格：预期估值面议，市场公允价值 资产规模：约3000-5000万份额 交易方式：可以接受LP份额 联系方式：zcjy@36kr.com 4、求购Mo ...

Group 1: REITs Market Analysis - The current REITs market has experienced a correction, leading to reasonable valuations, making it attractive for long-term investors to seize quality project opportunities during adjustments [1][6] - It is recommended to focus on two main lines based on Q3 performance: sectors with strong fundamentals such as data centers and affordable rental housing, and REITs expected to see quarter-on-quarter performance improvement in Q4, benefiting from events like the National Day holiday and "Double Eleven" promotions [1][6] - A significant unlocking of strategic placement shares is anticipated in November-December 2025, with a monthly unlocking scale exceeding 1 billion shares, creating structural entry opportunities despite short-term liquidity pressures on some quality targets [6][8] Group 2: Public Fund Investment Strategy - In 2025, the public fund scale and share both increased, but the structure changed, with fixed income and index equity experiencing net subscriptions, while fixed income and active equity faced net redemptions [2][11] - The outlook for 2026 suggests continued upward potential for equities, with a recommendation to maintain a balanced allocation between growth and reversal strategies, adapting flexibly to short-term opportunities [2][11] - A global multi-asset allocation approach is advised, with a focus on selecting products from various sub-strategies [11][12] Group 3: Wind Power Industry Outlook - The wind power industry maintains a high level of prosperity, with two main stock selection lines identified: strong performance in wind turbine bidding prices and the potential for significant growth in domestic and overseas wind power demand [3][17] - The average bidding price for onshore wind turbines has shown a continuous increase, with a year-on-year rise of 6.86% for onshore turbines and 9.78% for onshore turbines including towers [17][19] - Domestic offshore wind projects are progressing smoothly, with expectations for high growth in installation capacity from 2025 to 2026, and overseas offshore wind demand is also robust, indicating significant growth opportunities [18][19] Group 4: North Exchange Market Development - The North Exchange has achieved significant growth, with the number of listed companies reaching 280 and total market capitalization exceeding 900 billion yuan, indicating its role as a core platform for innovative small and medium enterprises [4][21] - The market is expected to enter a new cycle of high-quality expansion in 2026, shifting focus from scale expansion to quality improvement, with anticipated policy dividends and enhanced market functions [21][22] - Investors are encouraged to identify investment opportunities arising from policy releases and to focus on specialized and innovative enterprises with high technical barriers and R&D investments [22]

Group 1 - The core issue highlighted is the increasing perception of small household appliances as "disposable" items due to their short lifespan and difficulties in repair after warranty expiration [1][3][6] - Consumers are facing challenges in finding repair services for small appliances, with many companies reducing or eliminating physical repair locations, leading to a reliance on costly and inconvenient mail-in repairs [2][4][5] - There is a growing concern among consumers regarding the declining durability of small appliances, with many reporting failures shortly after the warranty period, contrasting with the longevity of older models [3][6] Group 2 - The business logic behind the decline in repair services is that the cost of repairs often exceeds the cost of replacement, prompting companies to adopt mail-in repair or replacement policies instead of maintaining physical repair centers [4][5] - The perception that cheaper small appliances are more prone to failure is prevalent, with some consumers expressing that even moderately priced items should last longer than they currently do [5][6] - Experts suggest that the industry needs to improve product durability and after-sales service, advocating for regulatory oversight to ensure quality standards and protect consumer rights [6]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 6610Z6 | 倍益康 | 33.00 | -1.40% | 7129.9 | 2355.47万 | | | 300272 | 开能健康 | 7.24 | -1.09% | 16.86万 | 1.22亿 | | | 002032 | 苏泊尔 | 47.36 | -1.02% | 2.61万 | | 1.24亿 | | 300824 | 北鼎股份 | 12.00 | -0.91% | 7.34万 | 8650.01万 | | | 301332 | 德尔玛 | 9.60 | -0.72% | 4.87万 | 4688.70万 | | | 920926 | 鸿智科技 | 17.10 | -0.58% | 1.08万 | 1830.64万 | | | 688793 | 倍轻松 | 27.27 | -0.33% | 3641.01 | 992.55万 | | | 603219 | 富佳股份 | 16.21 | 0.00% | 2.13万 | ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 001259 | 利仁科技 | 29.84 | -5.30% | 5.75万 | 1.84亿 | | 603486 | 科沃斯 | 78.39 | -3.07% | 5.30万 | 4.20亿 | | 920926 | 湾智科技 | 17.20 | -2.27% | 8923.77 | 1561.12万 | | 6610Z6 | 倍益康 | 33.47 | -2.11% | 8041.12 | 2720.27万 | | 688169 | 石头科技 | 154.80 | -1.43% | 2.43万 | 3.79亿 | | 301332 | 德尔玛 | 9.67 | -1.43% | 3.62万 | 3527.61万 | | 002403 | 爰仕达 | 12.93 | -1.30% | 3.64万 | 4764.07万 | | 002032 | 苏泊尔 | 47.85 | -1.28% | 2.70万 | 1.30亿 | | 688793 | 倍轻 ...

Summary of Key Points Core Viewpoint - Liren Technology's stock experienced a decline of 5.30% with a trading volume of 1.84 billion yuan and a fluctuation of 16.43% on the day, indicating significant market activity and investor sentiment shifts [2] Trading Activity - The stock had a turnover rate of 12.09% for the day, reflecting high trading interest among investors [2] - Institutional investors net sold 13.76 million yuan, while brokerage seats collectively net sold 5.70 million yuan [2] Market Data - The stock was listed on the Shenzhen Stock Exchange due to its daily fluctuation of 16.43%, with institutional specialized seats net selling 13.76 million yuan [2] - According to statistics from Securities Times, the top five trading brokerage seats had a total transaction volume of 89.59 million yuan, with a buying amount of 35.06 million yuan and a selling amount of 54.53 million yuan, resulting in a net sell of 19.46 million yuan [2] Institutional Participation - Among the brokerage seats involved, four institutional specialized seats were present, with total buying amounts of 20.64 million yuan and selling amounts of 34.41 million yuan, leading to a net sell of 13.76 million yuan [2] - The stock saw a net inflow of 19.11 million yuan from major funds, with a significant inflow of 16.04 million yuan from large orders and 3.06 million yuan from medium orders [2] - Over the past five days, the net inflow of major funds amounted to 21.68 million yuan [2] Detailed Trading Information - The top five buying and selling brokerage seats included various institutional and regional brokerage firms, with notable transactions recorded [2]

Investment Rating - The report maintains an "Outperform the Market" rating for the home appliance industry [6][7][8]. Core Insights - The home appliance sector shows resilience despite challenges, with leading companies demonstrating strong performance. The report highlights the growth potential for domestic brands, particularly in the context of iRobot's financial struggles [4][14][19]. - The "Black Friday" and "Cyber Monday" sales events in the U.S. saw significant online spending growth, benefiting companies like Stone Technology, which reported strong sales figures across various regions [3][20]. - iRobot is facing severe financial difficulties, with a significant portion of its debt being acquired by a domestic company, which may create opportunities for Chinese brands in the overseas market [4][24]. Summary by Sections 1. Investment Recommendations - Recommended companies include Midea Group, Haier Smart Home, TCL Smart Home, Gree Electric, Hisense Home Appliances for white goods; Hisense Visual for black goods; and Stone Technology, Bear Electric, and Ecovacs for small appliances [6][14][15]. 2. Market Performance - The home appliance sector achieved a relative return of +0.56% this week, outperforming the broader market [31]. - October saw a general decline in the shipment of major appliances, with air conditioners and televisions facing significant pressure, while washing machines showed resilience in exports [5][29]. 3. Key Data Tracking - Online sales during the "Black Friday" period reached $11.8 billion, a 9.1% year-on-year increase, while "Cyber Monday" sales hit $14.25 billion, up 7.1% [3][20]. - The report notes that the prices of raw materials such as copper and aluminum have increased, which may impact production costs [34][36]. 4. Company Announcements and Industry Dynamics - Midea Group and Haier Smart Home have made significant progress in their stock repurchase plans, indicating confidence in their market positions [49][52]. - The report discusses the challenges faced by the air conditioning export market, with a notable decline in volume and value, reflecting ongoing industry recovery issues [53].

证券之星消息，12月8日小家电板块较上一交易日下跌0.23%，石头科技领跌。当日上证指数报收于3924.08，上涨0.54%。深证成指报收于 13329.99，上涨1.39%。小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) | | --- | --- | --- | --- | --- | --- | | 605555 | 德昌股份 | 18.55 | 6.12% | 13.86万 | 2.52亿 | | 001259 | 利仁科技 | 31.51 | 1.88% | 1.27万 | 3990.79万 | | 003023 | 彩虹集团 | 23.84 | 1.66% | 3.35万 | 7990.84万 | | 603486 | 科沃斯 | 80.87 | 1.60% | - 5.73万 | 4.58亿 | | 688793 | 倍轻松 | 27.71 | 1.58% | 7193.57 | 1982.04万 | | 603219 | 富佳股份 | 16.35 | 1.24% | 3.21万 | 5247.45万 | | 002403 | 爱仕达 ...