Core Viewpoint - Guangdong is launching the "Guangdong Goods Go Global" spring action to boost market expansion and sales for its manufacturing sector, particularly in the home appliance industry, marking a strong start to the year 2026 [1][3]. Group 1: Event Overview - The "Guangdong Goods Go Global" spring action will commence on January 15, featuring 12 promotional events, including 10 offline and 2 online, along with 18 supporting activities [3][4]. - The event aims to showcase Guangdong's home appliance industry, emphasizing its innovation and quality, and is seen as a significant commercial event for the region [3][4]. Group 2: Industry Significance - Guangdong's home appliance sector has achieved over 10 national firsts in various categories, including production volume and patent numbers, highlighting its leading position in China's manufacturing landscape [4][6]. - The Guangdong-Hong Kong-Macao Greater Bay Area accounts for nearly 30% of the global smart home appliance market, underscoring Guangdong's critical role in the global home appliance industry [4][8]. Group 3: Marketing Strategy - The promotional activities will utilize a dual approach of online and offline engagement, creating an immersive experience for consumers while adapting to digital consumption trends [5][6]. - The event will not only focus on selling products but also on experiential consumption and showcasing the aesthetic of manufacturing, aiming to reshape consumer perceptions and stimulate new demand [5][10]. Group 4: Industrial Ecosystem - Guangdong's manufacturing sector is transitioning from "Made in Guangdong" to "Intelligent Manufacturing in Guangdong," reflecting advancements in technology, design, and quality [6][8]. - The home appliance industry has established a comprehensive ecosystem, integrating production, assembly, distribution, and recycling, which enhances resilience and efficiency [9][10]. Group 5: Innovation and Quality - Companies like Midea and Gree are leading innovations in product design and functionality, catering to specific market needs and enhancing their competitive edge [10]. - The shift towards high-quality living standards is driving the demand for innovative home appliances, with products designed to meet diverse consumer preferences [10].

工业企业增产最高奖励 70 万元；软件和信息技术服务业最高奖励60万；汽车购置最高补贴 5000 元、家 电消费最高补贴 500 元、餐饮消费最高满减 100 元、住房 "以旧换新" 单套最高补贴 3 万元…… 1月13 日，《2026年珠海市推动一季度经济高质量发展行动方案》（下文简称方案）正式出炉，为力拼2026年 经济"开门红"送出一篮子政策大礼包。 南都记者从珠海市发展和改革局获悉，珠海是2026年广东省内第一个出台一季度开门红方案的地级市， 相较于2025年，今年的政策进一步提升了奖励范围和力度，在去年主要支持工业、软件和信息技术服务 业的基础上，新增了对批发业、零售业、金融业、租赁和商务服务业、科学研究和技术服务业的支持， 同时加码工业项目建设奖补；内容更丰富，"粤享暖冬 乐购广东"消费季活动、购房"以旧换新"等既有 政策，叠加支持工业投资、金融业、租赁和商务服务业扶持等新政策，惠及面更广；方式也有创新，除 资金支持外，还新增荣誉奖励，将评选20家建筑业优质诚信企业，给予招投标免保证金、提升融资额度 等支持。 回顾2025年，珠海"开门红"方案政策成效显著，一季度GDP同比增长4.0%，为去年单季 ...

"硬装结束，雷军进场"现在不仅仅是一个网络热门梗。也是广大的年轻人对于居家生活的一种态度。更 加智能化的产品是大家在硬装结束后首先考虑的首选方向之一。没想到在我刚刚硬装结束以后就到了一 件非常棒的大件产品，那就是我们的米家净烟机Pro。 在家居生活中，厨房电器的性能直接影响着烹饪体验和生活品质。作为厨房的"空气卫士"，烟机的净烟 效果、功能设计以及使用便捷性一直是大家关注的重点。米家净烟机PRO作为一款备受瞩目的产品，宣 称在净烟性能、智能功能等方面有显著提升。本文将从外观设计、功能特点、实际使用体验等多个维度 对这款产品进行全面评测，为消费者提供参考。 ...

来源：人民日报客户端 新年伊始，消费热力升腾，"国补"成为市场上的"抢眼主角"。随着2026年以旧换新政策落地，多地家电和汽车卖场人气攀升，节能家电、智能家电、新能 源汽车等升级款产品，成了抢手的"香饽饽"。 1月1日至2日，河北省家电、数码和智能产品合计销售13.36万笔，销售总额5.9亿元；元旦假期，福州市消费品(不含汽车)以旧换新核销近1600万元，拉动 消费1.25亿元……政策红利对接消费需求，奏响新年扩内需、促消费的"开场好戏"。 2024年消费品以旧换新政策实施以来，相关商品销售额达3.92万亿元，惠及4.94亿人次。其中，汽车以旧换新超1830万辆，家电以旧换新超1.92亿件，手 机等数码产品购新超9100万部。以旧换新已不是简单的"旧物换新品"，而是成了推动经济良性循环的"关键纽带"。 政策支撑消费潜力持续释放 —— 2025年前11个月，以旧换新带动社零总额增长超1个百分点，家电零售额已超2024年全年，突破万亿元大关并创历史新高。一大批绿色智能新品走进千家 万户，更好满足了人们对美好生活的向往。 政策精准 " 导航 " 产业提质升级 —— 2025年，汽车以旧换新中，新能源汽车占比近60% ...

Core Insights - The article highlights a significant growth in the consumer market, with 150,000 new merchants entering the market and 276 new brands achieving over 100 million in sales in 2025, contrary to the prevailing narrative of consumption downgrade [3][10][15] - The report indicates that the number of brands achieving over 100 million in sales within three years of opening has reached a historical high, with a year-on-year increase of over 40% for brands that achieved this milestone in their opening year [3][10] Group 1: New Brand Growth - In 2025, there were 15,000 high-quality merchants entering the market, marking a historical high for new brand creation on Tmall [4][10] - A total of 5,026 new brands achieved over 10 million in sales in 2025, showcasing a broad industry explosion rather than a singular focus on specific sectors [21][22] - The apparel sector led with 22% of new brands, followed by home appliances, home improvement, 3C digital products, and health sectors, each contributing nearly 400 new brands [22] Group 2: Market Dynamics - The report emphasizes a shift in the "profit-making logic," moving away from reliance on low prices and high-volume sales to a focus on product quality and brand differentiation [15][19] - The success of brands like Xu Cuihua and Tongpin illustrates the importance of product quality and consumer engagement, as they have thrived by addressing specific consumer pain points rather than competing on price [28][29] - The article notes that the consumer market is not "cooling down," but rather becoming more selective, rewarding brands that can meet evolving consumer demands [19][38] Group 3: Future Opportunities - The report outlines potential opportunities for 2026, including advancements in AI hardware, smart jewelry, and technology-driven home appliances, indicating a shift towards products that enhance emotional and practical value [40][43] - The demand for quality products continues to rise, with consumer quality indices showing consistent growth over the past ten quarters, suggesting a robust market for innovative brands that cater to young consumers [43][44] - The article concludes that the future will favor brands that adhere to long-term strategies and respond to consumer needs with solid innovation [44]

Core Insights - The article highlights the global success of Chinese brands, particularly through the example of Pop Mart's IPs, which have gained significant traction in international markets, with overseas revenue reaching 1.4 billion yuan in the first half of 2024, accounting for 30% of total revenue, a nearly threefold increase compared to the same period in 2021 [1] Group 1: Brand Globalization Acceleration - The process of establishing brand recognition overseas has been significantly shortened from ten years to approximately 3-5 years, marking a shift from a prolonged battle to a rapid engagement strategy [8] - This acceleration is supported by improved infrastructure, including cross-border e-commerce platforms, social media for targeted marketing, and robust supply chain systems [9] Group 2: Transformation of Export Categories - The scope of Chinese exports is evolving from physical products to cultural IP and services, with IP product exports growing at 8%, surpassing the average growth rate of consumer goods exports [10] - This shift indicates a transition from being mere suppliers in the global supply chain to becoming value co-creators through deeper user engagement [10] Group 3: Deepening Export Models - Chinese brands are transitioning from a trade-based export model to a global supply chain layout, enhancing their market competitiveness and integrating more deeply into local economies [11] Group 4: Upgrading Consumer Connection Channels - Brands are moving away from reliance on platforms like Amazon to a diversified omnichannel operation, which includes direct-to-consumer (DTC) models and multi-channel strategies to better engage local consumers [12] Group 5: Regional Market Variations - The Asia-Pacific market is characterized by rapid demand growth and an expanding middle class, with consumers prioritizing quality and individual expression, benefiting culturally adaptable consumer goods [17] - In North America and Europe, despite slower overall growth, consumers are highly sensitive to product value, favoring categories with technological barriers and sustainable attributes [18] - Emerging markets like Latin America present unique opportunities for high-value, practical products, while the Middle East and Africa focus on meeting basic needs with cost-effective solutions [19] Group 6: Category Differentiation Strategies - Chinese companies must focus on their resource endowments and strategic priorities to maximize export efficiency, categorizing consumer goods into three types based on market share and growth potential [20] - For durable goods, the challenge lies in breaking through competitive saturation while enhancing profit margins through brand premium and supply chain resilience [25][26] - Fashion and cultural products must build deep emotional connections with consumers to transition from short-term popularity to long-term loyalty [29] Group 7: Case Studies of Successful Brands - Haier exemplifies successful globalization with a revenue of 285.98 billion yuan in 2024, where overseas income surpassed domestic for the first time, showcasing a robust local operational system [27][28] - Miniso's global strategy emphasizes emotional connection with consumers, achieving a revenue of 17 billion yuan in 2024, with overseas revenue growing by 41.9% [30][31] - Huaxizi, a beauty brand, has effectively penetrated international markets by leveraging unique cultural narratives and products, achieving significant sales in Japan and expanding into Europe [32][33]

Market Overview - All three major indices closed lower, with the ChiNext index experiencing a significant decline of 1.96%, while the Shanghai Composite Index fell by 0.64% to 4138 points. The Hong Kong Hang Seng Index opened high but closed lower. Trading volume in both markets increased, approaching 3.7 trillion yuan [1][8]. Sector Performance - The commercial aerospace sector saw a substantial drop, leading to a decline in market sentiment. According to WIND data, most of the 31 primary industries tracked by Shenwan experienced declines, with notable gains in oil and petrochemicals (1.62%), pharmaceuticals (1.21%), non-ferrous metals (0.91%), and media (0.67%). In contrast, sectors such as defense, electronics, communications, and computers lagged behind. Out of over 5300 stocks in the market, 3726 saw declines, indicating poor profitability [1][9]. Reasons for Market Correction - The primary reason for the market correction was the cooling off of previously popular speculative themes, particularly in commercial aerospace and controllable nuclear fusion sectors. The commercial aerospace concept stocks notably weakened after several companies issued risk warnings on January 12. This decline raised concerns among investors regarding high-volatility sectors, prompting some to quickly realize profits, which led to concentrated selling pressure [2][9]. Short-term Outlook - The current short-term fluctuations may present a good opportunity for allocation. Historical data from the past two decades indicates that spring market rallies typically occur, although the timing and magnitude can vary. Compared to historical trends, the current bull market has not yet reached its peak, and market sentiment remains subdued. The influx of absolute return funds from insurance, private equity, and retail investors suggests that the spring rally in A-shares has already begun [2][10]. Future Market Dynamics - As the annual performance forecast disclosure window opens for listed companies, the market logic is expected to shift from valuation recovery to profit growth. The current spring market is anticipated to be characterized by a more tradable and significant upward trend after digesting market sentiment [3][10]. Sector Allocation Recommendations - The importance of performance realization is expected to increase, focusing on core technology and manufacturing sectors. Key areas to prioritize include overseas computing power, storage, consumer electronics, and wind energy storage, which currently have low trading congestion and still present buying opportunities. Additionally, sectors like innovative pharmaceuticals and gaming, which may see fundamental improvements in Q1, are also expected to rotate into focus [4][11]. Commercial Aerospace Sector Outlook - Despite the recent adjustments and the need to digest short-term overheating sentiment, the commercial aerospace sector may still hold strong investment appeal. The ongoing developments with SpaceX and robust policy support, along with significant industry catalysts, suggest that the sector could remain active with participation opportunities [5][12].

中国制造又添高光时刻！格力第三代半导体芯片强势登陆央视财经，从研发车间到量产流水线被全景曝 光，董明珠在镜头前掷地有声的表态更是引爆全网："造芯不是选择题，是中国制造的必答题！" 这款 凝聚格力十年心血的碳化硅芯片，不仅让空调能耗直降30%，更标志着中国家电核心技术彻底摆脱国外 卡脖子，网友直呼："董小姐这波太硬气了！" 此次登上央视的格力第三代芯片，核心亮点堪称颠覆性。不同于传统硅基芯片，它采用先进的碳化硅材 料打造，稳定性提升5倍以上，目前已全面应用于格力家用柜机、离心机等全系列空调，装机量突破100 万台。央视镜头中，珠海格力芯片工厂的百级无尘车间里，全自动化生产线24小时运转，国产设备导入 率超70%，不到40名工作人员就能完成从芯片设计到封装的全流程生产。 最让国人振奋的是，这款芯片打破了英飞凌、安森美等国际巨头的垄断。在此之前，高端家电核心芯片 长期依赖进口，中国企业不仅要支付高额专利费，还常面临供货受限的风险。董明珠在采访中透 露："2015年我们就下定决心造芯，哪怕每年投入几十亿，哪怕被质疑'不务正业'，也从未动摇。" 如 今，格力已打通芯片设计、制造、封装全产业链，成为国内首家实现家电芯片自 ...

西南证券主要观点如下： 回顾2025年 2025年初截至12月31日，申万家电指数指数上涨9.1%，在申万行业中涨幅排名第24。 西南证券发布研报称，整体而言，2026年在高基数及需求提前消化的大背景下，家电行业仍将处于恢复 期，但也迎来了"国补"和"关税"两大事件影响下的新常态。该行认为中国家电行业作为毫无争议的世界 第一，其中，优秀的公司及蕴含的新赛道都仍存长期投资价值。建议关注主线一：逆境方显龙头本色， 关注龙头公司高性价比，高分红。主线二：关注出海赛道。主线三：消费升级仍是长久趋势，体验提升 +创新品类值得关注 整体而言，2026年在高基数及需求提前消化的大背景下，家电行业仍将处于恢复期，但也迎来了"国 补"和"关税"两大事件影响下的新常态。该行认为中国家电行业作为毫无争议的世界第一，其中，优秀 的公司及蕴含的新赛道都仍存长期投资价值。 主线一：逆境方显龙头本色，关注龙头公司高性价比，高分红 基本面来看，从2025年下半年来看，国补收紧，边际效果递减已经定局。国内需求的提前透支，以及地 产及消费习惯变化导致的需求减少，该行认为内销目前需要一个较长的恢复期，因此，一方面外销占比 更高的个股受到的边际影响 ...

Group 1 - The core message of the meeting is to innovate strategies for attracting investment and promoting development in Jiangmen, aiming to introduce over 600 industrial projects with investments exceeding 200 billion yuan in 2023, with over 70% in manufacturing [1] - Jiangmen plans to enhance its participation in the Greater Bay Area by 2026, focusing on collaboration with Hong Kong and Macau in sectors such as marine economy, health, energy conservation, and cultural tourism [1] - The city aims to establish a modern industrial system targeting a trillion-yuan industrial economy, emphasizing smart, green, and integrated development across eight key industrial clusters [1] Group 2 - To strengthen industrial platform capacity, Jiangmen will invest over 10 billion yuan in infrastructure and develop a batch of mature industrial land, enhancing the efficiency of its high-tech zone and seven provincial industrial parks [2]