侃见财经 . 以下文章来源于侃见财经 ，作者侃见财经 石头科技的增速，开始放缓。 近期，石头科技披露了2024年的财务报告，财报显示，全年实现营收119.4亿，同比增长38.03%；实现净利润19.77亿，同比下滑3.64%。 看见不一样的财经！ | | | | | 甲位: 元 巾秤:人民巾 | | --- | --- | --- | --- | --- | | 主要会计数据 | 2024年 | 2023年 | 本期比上年同期 增减(%) | 2022年 | | 营业收入 | 11.944.707.206 | 8.653.783.788 | 38. 03 | 6.628.716. 402 | | 归属于上市公司股 东的净利润 | 1, 976, 563, 235 | 2,051,217,414 | -3.64 | 1, 183, 476, 942 | | 归属于上市公司股 东的扣除非经常性 | 1, 620, 399, 657 | 1,826,089,668 | -11.26 | 1, 197, 719, 439 | | 损益的净利润 | | | | | | 经营活动产生的现 | 1, 733, 868, 0 ...

当价值万元的羊绒大衣在洗衣机里蜷缩成童装尺寸，当真丝睡衣因不当洗护失去亲肤触感，当干洗店取回的衣物 总带着挥之不去的刺鼻气味——这些真实发生的事件，正在重塑现代家庭的洗护选择。 在这场品质生活的觉醒运动中，一组数据尤为醒目：2024年财报数据显示，卡萨帝洗衣机继续稳居高端第一，实 现了两位数增长。其中，1.5w+价位段的份额表现亮眼，占比88%，实现绝对引领。凭借创新的养护湿洗、养护空 气洗科技，卡萨帝洗衣机专门解决高端衣物的洗护难题，也收到了良好的市场反馈。 在日常生活中，很多用户对衣服的洗护认知还停留在要么水洗，要么干洗的选择上。水洗虽方便，但容易导致衣 物磨损、变形，尤其是对于一些高端面料如八千块的羊绒大衣洗完成起球、缩水，真丝睡衣晾干后变硬褪色等， 这让用户头疼不已。而送干洗同样也有顾虑，不仅有交叉感染的风险，取回来总有一股怪味......这些遭心事很多用 户都遇到过。据最新调研数据显示，73%的高端面料损伤源于不当机洗，而每3件送洗的高端衣物就有1件遭遇过 护理纠纷，消费者在洁净与养护的天平上陷入两难。 为了解决用户高端衣物水洗变形、干洗残留的难题，卡萨帝发明养护湿洗科技，通过独特的莫比乌斯柔护轨迹 ...

Core Insights - Stone Technology has emerged as a leader in the global vacuum cleaner market, achieving the highest sales volume and revenue in 2024, surpassing iRobot for the first time in sales [3][4] - The company showcased its new washing and drying set at AWE 2025, which is the only product under 10,000 yuan to receive dual green label certification from the International Woolmark Company, highlighting its innovative technology and market positioning [3][4][5] - The washing and drying set features a unique full-screen design and advanced technologies, aiming to redefine aesthetics and functionality in the washing machine sector [3][5][6] Company Developments - Stone Technology's revenue for 2024 is close to 12 billion yuan, reflecting significant growth driven by technological innovations [3][6] - The company has invested 2.906 billion yuan in research and development from 2016 to the third quarter of 2024, which is significantly higher than the industry average, leading to breakthroughs in low-temperature drying technology and other innovations [6][8] - The introduction of the washing and drying set marks a strategic expansion into the washing machine market, with plans to cover various price segments and enhance brand recognition [8] Industry Impact - The washing and drying set is expected to create a "catfish effect" in the industry, prompting advancements in technology and design across the sector [5][6] - Stone Technology's entry into the washing machine market signifies a shift from a small appliance brand to a recognized player in the consumer electronics space, with ambitions to become a professional washing machine brand [8]

Investment Rating - The report maintains a "Buy" rating for Midea Group [1] Core Views - Midea Group is transitioning from a leading home appliance manufacturer to a global leader in HVAC (Heating, Ventilation, and Air Conditioning) [3][7] - The company has been actively expanding its global presence through strategic acquisitions, including the recent purchase of Arbonia's climate division for €760 million (approximately ¥5.88 billion) [3][5] - Midea's HVAC business is expected to benefit from market opportunities in Europe, particularly with the shift from gas boilers to heat pumps [6][7] - The company is also focusing on enhancing its brand value and profitability in the Chinese market while facing competition from brands like Xiaomi and Aux [8] Company Overview - Midea Group's future prospects lie in the global home appliance, HVAC, and industrial technology sectors, with a history of small-scale acquisitions to fill global business gaps [5] - The formation of a new alliance, MBT Climate, with Arbonia and Clivet aims to provide comprehensive and efficient product solutions in Europe [5][6] - The company is experiencing rapid growth in its commercial HVAC business, particularly in precision central air conditioning for data centers [6] Financial Performance - For the first three quarters of 2024, Midea Group reported revenue of ¥318.97 billion, a year-on-year increase of 9.6%, and a net profit of ¥31.70 billion, up 14.4% [9] - The company has shown strong profitability, with a net profit margin of 9.94% for the first three quarters, improving from the previous year [16] - Midea's revenue growth is supported by domestic consumption stimulus policies, particularly in the home appliance sector [24] Market Trends - The domestic home appliance market is benefiting from the "old-for-new" subsidy policy, with a projected retail sales growth of 12.3% in 2024 [24] - Midea's air conditioning sales are expected to continue growing, with domestic sales reaching 10.415 million units in 2024, a 4.57% increase year-on-year [31] - The central air conditioning market is facing challenges domestically but is seeing strong export growth, with a 39.8% increase in exports in 2024 [41] Future Projections - The report forecasts Midea Group's net profit to reach ¥38.65 billion in 2024, with an EPS of ¥5.05, and further growth expected in subsequent years [80]

Investment Rating - The report maintains a "Buy" rating for Midea Group [1] Core Views - Midea Group is evolving from a leading home appliance manufacturer to a global leader in HVAC (Heating, Ventilation, and Air Conditioning) [3][7] - The company has successfully completed the acquisition of ARBONIA climate, enhancing its HVAC capabilities in Europe [3][5] - Midea's diversified business strategy, including acquisitions and global supply chain optimization, positions it well for future growth [6][8] Company Overview - Midea Group's future prospects lie in the global home appliance, HVAC, and industrial technology sectors, with a focus on small-scale acquisitions to fill global business gaps [3][5] - The recent acquisition of ARBONIA climate, valued at €760 million (approximately ¥5.88 billion), strengthens Midea's position in the European HVAC market [3][5] - The formation of a new alliance, MBT Climate, with ARBONIA climate and Clivet, aims to provide comprehensive and efficient product solutions in Europe [5] Business Development - Midea's commercial HVAC business is rapidly expanding, particularly in the precision central air conditioning segment for data centers [6] - Despite challenges in the European heat pump market due to subsidy withdrawals, Midea's local brand presence and supply chain advantages are expected to drive growth [6] - The company is also expanding its home appliance market globally, with acquisitions like the Spanish brand Teka to enhance its presence in developed regions [8] Financial Performance - For the first three quarters of 2024, Midea achieved revenue of ¥318.97 billion, a year-on-year increase of 9.6%, and a net profit of ¥31.70 billion, up 14.4% [9] - The company’s net profit margin improved to 9.94%, reflecting strong cost management and product structure optimization [16] - Midea's revenue projections for 2024-2026 are ¥410.44 billion, ¥441.31 billion, and ¥474.88 billion, respectively, with net profits expected to reach ¥38.65 billion, ¥43.41 billion, and ¥48.90 billion [80]

美国总统特朗普已于2月1日签署行政令，宣布自2月4日起，对所有来自加拿大和墨西哥的进口商品加征 25%的关税，其中对加拿大石油征收10%的关税；同时，对来自中国的商品加征10%的关税。那么从历史 数据来看，加征关税对金融市场的影响究竟有多大呢？ 我们将基于历史关税事件的市场反应，深入分析金融市场及主要可投资指数的潜在波动。我们的分析基于 对以往关税在历史上所引发反应的观察。通过回顾过往关税政策实施首月对相关行业指数、国家可投资指 数及汇率的影响（若适用）。之所以选择分析首月的情况，是因为如果将时间延长到更长的时段，就很难 将当时由于宏观经济和政治决策所产生的其他影响因素单独分离出来。 探索历史关税对特定行业和国家的影响 以下两张历史图表显示，2018年1月美国针对进口太阳能组件和大型家用洗衣机征收的关税，以及2018年 3月对进口铝和钢铁征收的关税，对宽基股票、债券或波动性指数的价值影响微乎其微。任何一个指数的 下降似乎都与当时发生的其他宏观经济新闻或政治决策相关，比如2018年2月因劳动力市场利好和通胀数 据支持加息举措引发的市场波动。 | | 日期 | 中国宽基 股票指数 | 美国宽基 股票指数 | 教 ...