2020-2025年1-10月中国家用冷柜(家用冷冻箱)产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：美的集团（000333）,海尔智家（600690）,澳柯玛（600336）,海信家电（000921） 相关报告：智研咨询发布的《2025-2031年中国冰箱行业市场现状调查及发展趋向研判报告》 根据国家统计局数据显示：2025年10月中国家用冷柜(家用冷冻箱)产量为215万台，同比下降2.7%； 2025年1-10月中国家用冷柜(家用冷冻箱)累计产量为2228.6万台，累计下降2.3%。 ...

紫牛新闻记者联系美的官方客服询问此事，对方表示冰箱的初始温度确实是-18摄氏度，如果发现冰箱 有问题，可提供订单号和电话让师傅上门维修或申请其他售后。 扬子晚报/紫牛新闻记者 张冰晶 校对 胡妍璐 转自：扬子晚报 近日，一名宝妈王女士（化名）在社交平台发帖称，其今年9月刚生下双胞胎宝宝，由于一个宝宝母乳 性腹泻只能喝奶粉，剩下很多母乳。王女士于是在某电商平台下单了一台200L的美的深冷冰柜，将母 乳冻了起来。没想到几天后，她发现冰柜里的母乳全化开了，询问客服才知新冰柜调到-40摄氏度后只 能维持24小时，之后会恢复初始温度。王女士发现自己买的冰柜恢复到了5摄氏度，她对此表示质疑： 为何冰柜的初始温度会这么高？后续沟通中，美的客服表示初始温度应为-18摄氏度。美的售后人员上 门查看后，表示压缩机没有启动。后续客服表示愿意赔偿100元，但王女士觉得不满意，认为该款冰箱 存在品控问题。 王女士告诉记者，她在网上购买的冰柜到家后，安装师傅告诉她通电四五小时后才能放东西，于是她将 冰柜摆在家里插电五小时之后调成了-40摄氏度，再将用瓶子装好的母乳放入冰柜，"后面几天都没打开 过冰柜，直到再拿东西时发现母乳全化冻了。我赶 ...

Core Insights - The report by Zhiyan Consulting analyzes the competitive landscape and investment directions of the Chinese electric fan industry from 2026 to 2032 [1] Export Data - In November 2025, China's electric fan exports amounted to 36.67 million units, representing a year-on-year decrease of 0.8% [1] - The export value for the same period was $330 million, which reflects a significant year-on-year decline of 23% [1] Industry Analysis - Zhiyan Consulting is recognized as a leading industrial consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1] - The firm has over a decade of experience in the industry research field, offering tailored solutions to empower investment decisions [1]

Core Viewpoint - The new national energy efficiency standard for refrigerators will be implemented in June 2026, which is expected to boost the market penetration of VIP in the domestic refrigerator sector, driven by ongoing appliance subsidy policies and the new efficiency standards [2]. Company Communication and Investor Relations - The company emphasizes the importance of communication with investors and has established a comprehensive, multi-channel interaction platform to maintain good engagement with investors [2]. - Regular communication methods include performance briefings, investor exchange meetings, and online platforms, which help convey the company's value concepts and business development dynamics [2]. Business Strategy and Performance Enhancement - The management is committed to optimizing operational efficiency, enhancing product research and development, and expanding market reach to improve the company's performance and intrinsic value [2]. - The company aims to increase market value through improved transparency and strengthened investor relations management [2].

长虹美菱（000521.SZ）12月25日在投资者互动平台表示，公司空调产业以下属子公司四川长虹空调有 限公司及中山长虹电器有限公司为平台开展相关业务。经过多年发展，公司始终坚持以用户为中心，以 技术创新为驱动，通过持续优化产品品质和服务来提升用户体验。敬请广大投资者注意投资风险，理性 投资。 （记者 王晓波） 每经AI快讯，有投资者在投资者互动平台提问：最近空调行业热议铝代铜，请问长虹美菱在这方面有 没有技术储备，有没有领先的技术优势？ ...

格隆汇12月24日｜海尔智家旗下全资子公司海尔印度拟进行股权结构优化，海尔智家向印度巴蒂集团及 美国华平投资合计转让海尔印度49%股权。交易完成后，海尔智家仍持有49%股权，剩余2%股权纳入当 地管理团队中长期激励计划，公司仍保持海尔印度最大单一股东地位，对核心经营的主导权未发生变 化。 ...

Group 1 - The company announced that the first extraordinary general meeting of shareholders in 2025 approved a total guarantee amount not exceeding 456 million yuan for its subsidiaries [1] - The company provided joint liability guarantees for credit facilities of up to 30 million yuan for Aishida Home Appliances at the Industrial and Commercial Bank of China (ICBC) Yangtze River Delta Branch and up to 50 million yuan for Hubei Aishida at ICBC Anlu Branch, with a validity period from December 23, 2025, to December 23, 2028 [1] - As of the disclosure date, the total external guarantees provided by the company and its controlling subsidiaries amounted to 277.3 million yuan, accounting for 16.69% of the audited net assets as of the end of 2024, with no overdue or abnormal situations reported [1]

2026 年度中国期货市场投资报告 海外流动性风险尚未解除，新一轮量化宽松有望重启 宏观经济/资产配置 内容提要： 程 伟 宏观分析师 从业资格证：F3012252 投资咨询证：Z0012892 TEL：0516-83831160 E-MAIL：chengwei @neweraqh.com.cn 近期报告回顾： 美联储降息周期重启，全球 经济及大类资产展望（季 报）20250930 全球贸易摩擦及地缘局势 缓和背景下，大类资产配置 （半年报）20250630 国际环境复杂多变，超常规 政 策 依 然 可 期 （ 年 报 ） 20250101 投资有风险 理财请匹配 进入 2026 年，美国减税政策对经济的刺激作用将开始显现，关税政策对物价的影 响可能在下半年消退，美联储进一步降息的门槛明显升高，利率点阵图维持对年 内降息一次的预测；欧元区经济复苏乏力，通胀稳定在 2%的目标附近，欧洲央行 货币政策在进行 8 次降息后进入观察期；日本经济保持温和复苏，央行维持缓慢 加息的节奏，逐步实现利率政策正常化，可能引发海外日元套利资金回流，加剧 金融市场波动。 中央经济工作会议要求继续实施更加积极的财政政策，保持必要的财 ...

Core Viewpoint - The dehumidifier market in China is experiencing significant growth due to increasing awareness of indoor environmental quality, technological advancements, and expanding applications in various sectors such as biomedicine, data centers, and new energy battery production [1][6]. Industry Definition and Classification - Dehumidifiers, also known as moisture removers, consist of components such as compressors, heat exchangers, air duct systems, water tanks, controllers, and casings [2][4]. - They can be categorized based on usage scenarios (household, commercial, industrial), dehumidification methods (refrigeration, wheel, solution), and functionalities (standard, cooling, temperature control, multifunctional) [3][4]. Market Demand and Supply - In 2024, China's dehumidifier production is projected to reach 12.95 million units, with a demand of 1.83 million units and a market size of 2.566 billion yuan; by 2025, production is expected to be 12.09 million units, demand 1.75 million units, and market size 2.407 billion yuan [6][8]. - The household dehumidifier segment dominates the market, accounting for approximately 63.91% in 2024, with commercial and industrial dehumidifiers making up 18.36% and 17.73%, respectively [8]. Industry Development Environment - The Chinese government has implemented various policies to encourage the development of the dehumidifier industry, including measures to promote green and intelligent home appliance consumption [4][5]. Industry Chain - The upstream of the dehumidifier industry includes key raw materials and components such as compressors, fans, heat exchangers, water tanks, and controllers, while the midstream involves manufacturing, and the downstream applications span households, commercial, and industrial sectors [10][11]. Competitive Landscape - The domestic dehumidifier market features a mix of major home appliance companies (e.g., Midea, Gree, Haier) and specialized brands (e.g., Deye, Oujing) [14][15]. - The market is characterized by a "domestic-led + imported high-end coexistence" structure, with domestic brands focusing on mid-to-high-end markets and imported brands targeting high-end segments [14][15]. Key Companies - Deye Technology Co., Ltd. is a leading player in the dehumidifier market, focusing on innovation and high-end industrial dehumidifiers, with a projected total cost of 635 million yuan for its products in 2024 [12][17]. - Oulun Electric Co., Ltd. has established a comprehensive product system covering household, commercial, and industrial dehumidifiers, with dehumidifier revenue accounting for approximately 55.15% of its total revenue in 2024 [19]. Industry Trends - The dehumidifier industry is moving towards smart, energy-efficient, and environmentally friendly solutions, with a focus on enhancing user experience and expanding market demand [20][21]. - There is a trend towards customized products for specific scenarios and the integration of multiple functions, such as dehumidification combined with air purification and temperature control [21][22]. - The industry is expected to see increased concentration, with leading companies leveraging technology and scale to maintain competitive advantages, while niche players may find opportunities in specialized markets [22][23].

Investment Rating - The report maintains a positive outlook on the home appliance sector, indicating that the sector has outperformed the CSI 300 index, with a 0.2% increase in the home appliance index compared to a 0.3% decrease in the CSI 300 index [4][5]. Core Insights - The home appliance sector is experiencing a mixed performance, with leading companies like Zhejiang Meida, Aojiahua, and Biyi Co. showing significant gains, while companies like Lek Electric and Huaxiang Co. are facing declines [4][7]. - The acquisition of Jiamei Packaging by the actual controller of Chasing Technology for 2.282 billion yuan is a notable industry development, with commitments for stable profit growth [10]. - iRobot, a leading global brand in robotic vacuum cleaners, has filed for bankruptcy protection and is expected to be acquired by Shenzhen Shanjun Company, highlighting competitive pressures from Chinese firms [11]. - November sales data for major appliances show significant declines in both volume and revenue, with air conditioners, refrigerators, and washing machines all experiencing substantial drops [35][37][40]. Summary by Sections Industry Performance - The home appliance sector has outperformed the broader market, with a 0.2% increase in the sector index against a 0.3% decline in the CSI 300 index [4][5]. - Key companies leading the gains include Zhejiang Meida (up 12.2%), Aojiahua (up 8.1%), and Biyi Co. (up 4.1%), while Lek Electric (-10.9%), Huaxiang Co. (-4.7%), and Sanhua Intelligent Control (-3.5%) faced declines [4][7]. Industry Dynamics - Jiamei Packaging was acquired for 2.282 billion yuan, with commitments for a minimum net profit of 1.2 billion yuan from 2026 to 2030 [10]. - iRobot's bankruptcy highlights the competitive landscape, with its revenue of $146 million in Q3 2025 and a loss of $22 million, alongside a cash reserve of only $25 million [11]. Sales Data Observations - November data shows a significant decline in sales for major appliances: air conditioners down 47.4% in volume and 55.7% in revenue, refrigerators down 44.6% in volume and 51.7% in revenue, and washing machines down 42.0% in volume and 50.0% in revenue [35][37][40]. - The average prices for air conditioners, refrigerators, and washing machines have also decreased, indicating a challenging market environment [35][37][40].