当地时间12月10日，墨西哥众议院以压倒性结果批准通过一项重磅关税法案。 该法案计划对来自中国等未签署自由贸易协定的亚洲国家的1463项商品加征关税，税率从原有的0-20%提升至10%-50%，多数商品税率集中在10%-30%， 部分品类关税达50%，覆盖约17个行业。 法案拟于2025年12月15日完成立法程序，将于2026年1月1日起正式生效。 其中，法案涉及到的国家包括中国、韩国、印度、越南、泰国、印度尼西亚、俄罗斯、土耳其、巴西、尼加拉瓜、阿联酋和南非等。 欧盟、美国、加拿大等与墨西哥有自由贸易协定（TLC）的国家不受影响。 但值得注意的是，政策出台的时间节点恰与近日中日关系紧张期重合，这让"单纯经济考量"的说法备受质疑。 文章来源：维运网整理汇编，转载请注明出处 涉及行业具体如下： 有数据显示，受影响的贸易额中约70%来自中国——2024年中墨贸易额达1094.26亿美元，中方出口902.32亿美元，贸易逆差持续扩大成为墨西哥政府推动 加税的重要借口。 中国商务部于12月11日作出回应，明确反对这种单边主义、保护主义做法，指出措施将实质性损害中方利益，希望墨方及早纠正有关错误做法，同中方相 向而行。 ...

广东省发布《中共广东省委关于制定广东省国民经济和社会发展第十五个五年规划的建议》。 内容来源 | 广东发布 中共广东省委关于制定广东省国民经济和 社会发展第十五个五年规划的建议 （2025年11月27日中国共产党广东省 第十三届委员会第七次全体会议通过） 中国共产党广东省第十三届委员会第七次全体会议，全面贯彻党的二十届四中全会精神，深入贯彻习近平总书记对广东系列重要讲话和重要指示精神，就 制定广东省国民经济和社会发展"十五五"规划提出以下建议。 一、牢记习近平总书记厚望重托，奋力在推进中国式现代化建设中走在前列 （1）"十四五"时期广东取得的发展成就。"十四五"时期广东发展历程极不寻常、极不平凡。在以习近平同志为核心的党中央坚强领导下，广东省委团结 带领全省广大干部群众，锚定"走在前列"的总目标，激活改革、开放、创新三大动力，扎实推进"1310"具体部署，迎难而上、砥砺前行，有力应对百年变 局和世纪疫情，坚定扛起经济大省挑大梁的责任，推动经济社会发展取得新成就，续写了经济快速发展和社会长期稳定两大奇迹的广东新篇章。高质量发 展主旋律鲜明唱响，产业科技互促双强深入推进，关键核心技术多点突破，制造业家底更加厚实， ...

Core Viewpoint - The outlook for 2026 indicates that high base effects will suppress performance in the first half of the year, with the impact of the real estate sector leading to a situation where external sales may recover before domestic demand [2][4]. Group 1: Industry Performance Overview - As of November 2025, the cumulative growth of the home appliance and light manufacturing industries has not outperformed the CSI 300 index, with light manufacturing showing a notable advantage over home appliances [2][3]. - The domestic demand for durable consumer goods, particularly in home appliances and home furnishings, is expected to weaken due to the continuous decline in housing completion data and diminishing effects of government subsidies [2][4]. Group 2: Domestic Demand and Real Estate Impact - The potential for new rounds of housing purchase restrictions and stimulus policies has increased following a rapid decline in residential sales price indices in October 2025, which may help related sectors achieve valuation recovery [5]. - The total number of second-hand and new housing transactions is projected to decline by 4.8% in 2026, slightly better than the 5.9% drop in 2025, indicating continued pressure on home decoration demand [5][7]. Group 3: Consumer Subsidy Effects - The anticipated effects of the old-for-new subsidy program may lead to a decline in domestic sales of air conditioners, refrigerators, and washing machines by 7.5%, 8.6%, and 9.7% respectively in 2026, due to demand exhaustion and high base effects [10]. - If the subsidy program continues without significant increases in scope or intensity, the positive impact on demand is expected to be weaker than in previous years [10][12]. Group 4: External Trade and Market Dynamics - The external sales performance of home appliances, furniture, and other consumer goods is expected to see a turning point in the second quarter of 2026, driven by low base effects and improved demand in developed markets like the U.S. and Europe [11][12]. - Emerging markets, particularly in Latin America and Southeast Asia, are expected to show stronger demand growth compared to developed economies, with the Middle East facing weaker demand due to declining oil prices [11][12]. Group 5: Strategic Recommendations - The focus for 2026 should be on overseas markets, as companies with a high proportion of external sales and better profitability abroad are likely to outperform domestically [12]. - Companies less affected by domestic demand pressures, such as those in the kitchen small appliance sector, are expected to perform more steadily compared to those closely tied to home decoration demand [12].

Core Insights - The furniture procurement scale in China is projected to reach 18.436 billion yuan in 2024, showing a slight decline from 2023 but still maintaining a high procurement level [1] - The "2025 (15th) Furniture Tender Procurement Evaluation and Recommendation Activity" was organized to standardize the furniture procurement order and promote industry development [1][3] - The evaluation considered seven dimensions, including project bidding quantity, R&D investment, brand competitiveness, digital transformation, sustainability, organizational management, and market expansion [3] Group 1: Evaluation Results - The "2025 Top Ten Quality Trustworthy Enterprises in the Furniture Industry" list includes companies such as Beijing Jinyu Tiantan Furniture Co., Ltd. and Guangzhou Yimei Medical Furniture Technology Co., Ltd. [3][4] - The "2025 Top Ten Integrity Bidding Enterprises" list features Guangdong Huasheng Furniture Group Co., Ltd. and Zhuhai Lizhi Yanghang Office Furniture Co., Ltd. [4] - The "2025 Top Ten Recommended Brands for Furniture Tender Procurement" includes Guangdong Kejin Furniture Group Co., Ltd. and Chengdu Huihong Technology Group [4] Group 2: Customized Services - Eight personalized service menus were introduced for furniture bidding suppliers, including comprehensive strength certification and inclusion in the procurement directory [5][6] - Services also include media promotion through news interviews and 3D (VR) showroom filming to enhance supplier visibility [6] - Training sessions and regional procurement resource exchange meetings are planned to support suppliers in navigating the bidding process [6] Group 3: Industry Background - China Procurement and Bidding Network was established in 2000 to support the implementation of the Tendering and Bidding Law and to regulate public procurement [7][8] - The platform has significant influence in the domestic bidding and public procurement sector, with over 400 million visits annually and more than 10 trillion yuan in procurement data collected each year [8]

2024年1至12月份，喜临门的营业收入构成为：家具占比98.45%，其他业务占比1.55%。 每经AI快讯，喜临门（SH 603008，收盘价：21.84元）12月9日晚间发布公告称，公司第六届第十四次 董事会会议于2025年12月9日在公司国际会议室以现场表决的方式召开。会议审议了《关于拟变更公司 名称及修订 <公司章程> 的议案》等文件。 （记者 王瀚黎） 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 截至发稿，喜临门市值为80亿元。 ...

"十五五"规划（建议）明确提出"加快打造新兴支柱产业、大力提振消费"的战略导向，这既是产业升级的时代号角，更是品牌创新与品质突破的契机。2025 年12月7日，中央电视台财经频道《对话·创新中国行》栏目联合《大国品牌》推出的《构筑新支柱：产业升维与品牌升级》特别节目重磅播出。左右沙发董 事长黄华坤先生受邀出席，围绕"高端化""智能化""绿色化"三大关键词，系统阐释左右沙发响应国家战略、引领行业发展的升维路径。作为中国家具行业的 标杆企业、CCTV《大国品牌》首家沙发行业合作品牌，左右沙发近40年发展历程中始终积极展现中国企业从产品竞争向文化价值跃迁的典范风采，为"十 五五"新起点下的产业变革注入强劲品牌力量。 左右沙发董事长黄华坤（右） 受邀出席《对话·创新中国行》栏目 《构筑新支柱：产业升维与品牌升级》特别节目 左右沙发董事长黄华坤（右二） 左右沙发董事长黄华坤（右三） 智能科技+匠心深耕 定义幸福家具品质标准 在节目对话中，面对"十五五"规划提出的发展要求，黄华坤董事长明确表态："左右沙发将坚决响应国家号召，往高端化、智能化、绿色化去发展。"针对年 轻消费群体对"科技+舒适"的双重需求，左右沙发打破传统沙 ...

加班、浮躁、攀比、裁员……汽车人被"卷"走。 编者按：近年来，新能源与智能化浪潮为汽车行业带来了百年未有之变局。在此期间，市场机遇与乱象 并存 —— 无序内卷、过度营销、安全争议、品牌浮沉等，不断重塑产业生态。行至 2025 年岁末，再空洞 地谈渗透率与智驾，似已缺乏新意。时代的洪流奔涌向前，而最真实、最动人的注脚，往往就源自那些 躬身入局的平凡个体。本栏目将以人为镜，透过一个个普通汽车人的故事，记录这段属于中国的、波澜 壮阔的汽车变革之旅。 "你看，大型汽车集团的CEO都受不了汽车，跑去卖奢侈品了。"今年6月中旬，当看到雷诺CEO卢卡·德· 梅奥将卸任，转而出任奢侈品巨头开云集团CEO的消息时，赵凡第一时间就转发给了车圈的一个朋友。 赵凡在一家头部新能源车企工作，曾经历过拿20多个月年终奖的合资车企"光辉岁月"，但近两年所在公 司越来越多的月度加班时间排名、部门费用排名等指标，已经压得他几乎喘不过气，并多次产生了转行 的想法。 在过去很长一段时间内，作为高端制造业的汽车，相关岗位都被大众视为一份体面的工作，不少传统汽 车城的本地居民甚至都将进入汽车行业当作重要人生目标，"新四化"时代的到来，很多跨行人才也慕 ...

期货研究院 格林大华期货研究院专题报告 宏观经济 2025年12月8日 证监许可【2011】1288号 11月份，中国出口机电产品2059亿美元，同比增长9.7%，1-11 月累计同比增长8.0%，去年全年增长7.5%。1-11月高新技术产品出 口同比增长6.6%，去年全年增长4.8%。1-11月集成电路出口同比增 长24.7%，去年全年增长17.4%。前11个月出口汽车（包括底盘）同 比增长16.7%，去年全年增长15.5%。前11个月出口船舶同比增长26. 8%，去年全年增长57.3%。前11个月出口家电同比下降3.6%，去年 全年增长14.1%。前11个月出口手机同比下降11.2%，去年全年下降 3.1%。前11个月出口箱包及类似容器同比下降13.5%，去年全年下降 3.2%。前11个月出口玩具同比下降12.1%，去年全年下降1.7%。前1 1个月出口服装及衣着附件同比下降4.4%，去年全年增长0.3%。前1 1个月出口家具及零件同比下降5.9%，去年全年增长5.8%。今年中国 出口更高科技含量产品和传统优势出口产品的增长速度明显分化。 11月位于中国进口金额前列的还是集成电路和大宗商品。11月中 国进 ...

李宁户外首店开业，出口链关注恒林、永艺 ——轻工制造及纺服服饰行业周报 执业证书编号：S0740523030001 Email：zhangxiao06@zts.com.cn 执业证书编号：S0740520090002 Email：guomx@zts.com.cn 分析师：邹文婕 执业证书编号：S0740523070001 Email：zouwj@zts.com.cn 分析师：吴思涵 执业证书编号：S0740523090002 Email：wush@zts.com.cn | 上市公司数 | 167 | | --- | --- | | 行业总市值(亿元) | 11,746.96 | | 行业流通市值(亿元) | 9,246.51 | 2025-12-01 价格反弹》2025-11-25 裕元、敏华披露业绩》2025-11-16 轻工制造 证券研究报告/行业定期报告 2025 年 12 月 07 日 | 评级： | 增持（维持） | 重点公司基本状况 | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...

Core Insights - "Emotional value" is becoming a key driver in the 2025 consumer market, reflecting a complex interplay between economic cycles and collective psychology [3][25] - The rise of LABUBU as a cultural icon signifies a shift in consumer behavior, where emotional resonance surpasses practical functionality [25][30] - The emotional consumption market in China is projected to exceed 2 trillion yuan in 2025, indicating significant growth potential [4][22] Group 1: Emotional Consumption Trends - The emotional consumption market has been growing at an annual compound rate of 12% since 2013, with expectations to reach over 2 trillion yuan by 2025 [22][41] - Companies like IKEA are adapting their strategies to incorporate emotional value into product development, moving beyond mere market trends to capture the emotional temperature of consumers [4][26] - The success of LABUBU illustrates the emergence of "social currency," where products serve as symbols of identity and belonging among affluent consumers [28][41] Group 2: LABUBU's Market Impact - LABUBU, a key IP from Pop Mart, has seen its popularity soar, with a peak auction price of 1.08 million yuan for a unique sculpture, highlighting its status as a luxury item [6][28] - In the first half of 2025, Pop Mart's revenue reached 13.88 billion yuan, a year-on-year increase of 204.4%, largely driven by LABUBU's success [7][28] - The LABUBU series generated 4.81 billion yuan in revenue, accounting for 34.7% of Pop Mart's total revenue, showcasing its significant contribution to the company's growth [7][28] Group 3: Cultural and Global Resonance - LABUBU represents a successful case of Chinese cultural creativity going global, employing a "borderless aesthetic" that resonates with diverse consumer bases [29] - The brand has faced challenges with counterfeit products, leading to significant enforcement actions against piracy, indicating its high demand and cultural significance [29] - LABUBU's design and marketing strategies effectively engage with global consumers, creating a cultural phenomenon that transcends traditional toy markets [29][30] Group 4: Emotional Value in Consumer Behavior - The interplay between "belonging" and "existence" is crucial in emotional consumption, with products often serving dual roles in providing security and individual expression [19][39] - The rise of characters like LABUBU and the capybara reflects a collective yearning for emotional stability and personal identity in a rapidly changing social landscape [20][39] - Emotional consumption is not a new phenomenon; historical examples like Hello Kitty and Jellycat illustrate its enduring relevance across different economic contexts [11][32]