2026年开局，中国企业出海的航图上，风浪与灯塔并存。从"产品走出去"到"品牌走进去"，从"单点突破"到"系统扎根"，这一年的出海故事有了全新的变 化。 随着2026年的日历悄然翻开，中国企业出海的叙事逻辑已经彻底改变。在全球供应链重构、AI技术爆发、地缘政治博弈的大背景下，中国企业的"大航海 时代"迎来了分水岭。 根据最新行业观察，我们梳理了2026年中企出海十二大核心趋势，带你一文看懂这场从"浅海"驶向"深蓝"的征程。 01 趋势一：中国出口重心加速转移至新兴市场，未来增长极将由高端智造全面主导 2025年，中国外贸交出了一份让很多人都意想不到的成绩单——进出口总额超过45万亿元，不仅创下历史新高，还稳坐在全球货物贸易第一大国交椅。 值得细看的是，这笔账的"含金量"变了。 以前说起出口，大家的第一反应可能是"又卖了多少衣服、多少玩具"。但2025年的增长逻辑完全换了样——最大的增量来自新能源汽车、工业机器人和锂 电池这"新三样"。新能源车出口上涨70%，连续三年全球第一。 除了"卖什么"变了，"卖给谁"也在变。对美出口占比降至11.1%，但对东盟、拉美、非洲的生意越做越火。尤其是"一带一路"沿线国家，第一 ...

转自：扬子晚报 2月18日，《参考消息》头版刊发报道，盛赞春晚歌曲《智造未来》。报道指出：这首由香港流行乐歌 手等演唱的歌曲，歌词中"We are made in China"充满自信，体现中国对自身工业实力日益增强的自豪 感，技术进步正成为中国对外的软实力资本。 在中国智造产业升级的背景下，追觅作为新质生产力的代表，正成为中国品牌走向世界的名片之一。公 开数据显示，目前，追觅业务已覆盖全球120余个国家和地区，服务超4200万家庭，在全球30个国家市 占率第一，正加速让"中国智造"从愿景落地为现实，赋能亿万家庭美好生活。 校对 胡妍璐 作为在《智造未来》节目中亮相的核心品牌，追觅科技以春晚"智能科技生态战略合作伙伴"身份，将智 能空调、空气净化器、智能眼镜、汽车、割草机器人、泳池机器人等全场景生态产品融入歌舞编排， 让"中国智造"的宏大叙事变为可感可知的日常。 ...

Core Viewpoint - The article highlights the significance of the song "Made in China" performed during the Spring Festival Gala, showcasing China's growing industrial strength and technological advancements as a form of soft power [1] Group 1: Company Overview - Chasing Technology, as the "smart technology ecological strategic partner" of the Spring Festival Gala, integrates various smart products into the performance, representing the narrative of "Chinese manufacturing" in everyday life [1] - The company has expanded its business to over 120 countries and regions, serving more than 42 million households, and holds the number one market share in 30 countries [1] Group 2: Industry Context - The article emphasizes the transformation in the competitive logic of China's hard technology industry, shifting from single-point breakthroughs to systematic leadership and from product exports to ecological definitions [1] - In the context of China's manufacturing strategy, Chasing Technology aims to convert globally validated hard capabilities into perceptible smart living for citizens, marking a significant mission for the new quality productivity and the rise of a great nation [1]

Group 1 - MOVA is positioned as a leading high-end innovative smart home appliance brand, ready to expand into the broader consumer market, as evidenced by its debut at the 2026 Spring Festival Gala [1][2] - The integration of embodied intelligence technology with national cultural IPs presents a new path for the industrialization and popularization of China's cutting-edge technology [2] - The collaboration with the Spring Festival Gala aligns MOVA's core philosophy of "using smart technology to reshape family spaces" with the emotional needs of family gatherings, indicating a dual approach to industrial innovation and consumer upgrade [2][3] Group 2 - MOVA's market influence is validated by significant growth metrics, including a 232% increase in GMV during the 2025 618 shopping festival and being the top seller of laser radar lawn mowers globally from November 2024 to October 2025 [4][9] - The brand's strategy focuses on moving beyond traditional hardware to embrace AI and embodied intelligence, addressing real-life needs through various mobile robots [4][12] - The Spring Festival Gala serves as a platform for the widespread adoption of embodied intelligence technology, reaching over a billion viewers and breaking down barriers between hard technology and consumer markets [5][6] Group 3 - MOVA's approach to product strategy is validated in multiple overseas markets, directly entering mature markets like Germany and the USA without following traditional paths [7] - The company emphasizes rapid conversion of technological breakthroughs into product advantages, which is crucial in the fast-evolving consumer electronics market [8] - MOVA has established a large ecosystem with over 19 product lines and more than 2000 patents, focusing on upgrading products based on specific scene needs [13][14] Group 4 - The brand's vision includes developing home service robots that interact with users through various sensory modalities, aiming for a comprehensive upgrade in family life experiences [13] - MOVA's diverse product matrix covers indoor and outdoor living scenarios, enhancing market value through continuous product expansion [14] - The emergence of MOVA at the Spring Festival Gala symbolizes a significant transformation in China's consumer electronics industry, reflecting the country's shift from following to leading in advanced fields like embodied intelligence [14]

Core Insights - The company is strategically leveraging high-profile events like the Super Bowl to enhance its brand visibility and position itself as a global high-end technology brand [2][4][19] - The company has achieved a remarkable compound annual growth rate of 100% in revenue over the past six years, indicating strong market performance and growth potential [5][10] - The company's international revenue now accounts for nearly 80% of total revenue, with significant market shares in Europe and Southeast Asia [6][7] Brand Strategy - The company has executed a "triple jump" in brand exposure, transitioning from CES to the Super Bowl and then to the Chinese New Year Gala, showcasing its commitment to brand elevation [2][4] - The Super Bowl advertisement is seen as a strategic move to penetrate mainstream American households, breaking the stereotype of Chinese tech products as merely "geek toys" [4][10] Market Performance - In North America, the company reported a staggering 189% year-over-year revenue growth in 2025, with specific categories like vacuum robots and floor washers seeing increases of 150% and 235% respectively [10][12] - The company has established a strong presence in the North American market, with a 10% market share in vacuum robots and a 20% share in floor washers [10] Product Development - The company is expanding its product line to include new categories such as pool robots and air purifiers, indicating a diversification strategy [11] - The company has developed a localized product strategy, tailoring its offerings to meet the specific needs of North American consumers, such as addressing the prevalence of carpets in American homes [13] Global Expansion - The company has built a robust global sales network with over 6,500 physical stores and a strong online presence across major e-commerce platforms [8][12] - The company is also venturing into the automotive sector with its "Nebula" concept car, showcasing its ambition to create a comprehensive smart technology ecosystem [14][16] Future Outlook - The company is positioned to capitalize on the significant growth potential in the U.S. market, where the penetration rate for vacuum robots is only 15%, compared to a potential long-term rate of 70% [13] - The recent advertising campaign during the Super Bowl is expected to act as a catalyst for further market penetration and brand recognition [19]

[Table_Summary] 公司发布 2025 年业绩预增公告：公司预计 2025 年全年实现归母净利润 17.00~18.00 亿元， 较上年同期增加 8.94~9.94 亿元，同比增长 110.90%~123.30%，预计实现扣非归母净利润 16.00~17.00 亿元，较上年同期增加 8.84~9.84 亿元，同比增长 123.40%~137.36%。对应单 Q4 来看，公司实现归母净利润 2.82~3.82 亿元，同比增长 47.62%~99.96%，实现扣非归母净 利润 3.16~4.16 亿元，同比增长 70.18%~124.12%。 分析师及联系人 [Table_Author] 陈亮 SAC：S0490517070017 SFC：BUW408 请阅读最后评级说明和重要声明 %% %% 丨证券研究报告丨 [Table_scodeMsg1] 公司研究丨点评报告丨科沃斯（603486.SH） [Table_Title] 科沃斯：Q4 内销或有拖累，品类延展有望攫取 增量 报告要点 %% %% research.95579.com 1 [Table_scodeMsg2] 科沃斯（603486.SH） ...

行业研究 证 券 研 究 报 告 轻工纺服行业周报（20260126-20260201） 泳池机器人行业梳理：水下蓝海百舸争流， 推荐（维持） 池间智造万虑皆清 周专题：泳池机器人行业梳理 行业规模：供给创造需求，全球泳池清洁支出超百亿美元，无缆泳池机器 人渗透率持续提升。全球泳池数量持续扩容，2024 年全球泳池总数约 3290 万 个，对应泳池清洁开支约 129 亿美元。对比人工清洁，泳池机器人具有成本和 效率优势，市场迎来快速扩容，全球出货量从 2019 年的 250 万台提升到 2024 年的 450 万台，对应 CAGR 为 12.0%。其中，无缆产品可解决线缆打结和覆 盖面积等难点，渗透率从 2019 年的 4.0%提升至 2024 年的 44.5%。 行业格局：份额集中，望圆科技是全球第三、中国第一的泳池机器人龙头 企业。全球泳池机器人市场整体呈现出明显的"双超多强"格局，2024 年以色 列巨头 Maytronics 与西班牙老牌 Fluidra 分别占市场份额的 34.8%/18.5%。而 望圆科技在无缆泳池机器人赛道份额领先，占市场份额约 19.7%。 望圆科技：深耕泳池机器人赛道，OBM ...

Investment Rating - The report maintains a "Recommendation" rating for the swimming pool robot industry, indicating a positive outlook for investment opportunities in this sector [1]. Core Insights - The global swimming pool cleaning expenditure exceeds $10 billion, with a projected increase to $12.9 billion by 2024, reflecting a CAGR of 7.3% from 2019 to 2024 [10][19]. - The number of swimming pools worldwide is expected to grow from approximately 32.9 million in 2024 to 39.3 million by 2029, with a CAGR of 4.3% from 2019 to 2024 [10]. - The penetration rate of cordless pool robots is anticipated to rise significantly from 4.0% in 2019 to 44.5% in 2024, driven by their advantages over traditional corded models [25]. Industry Overview Industry Scale - The global swimming pool cleaning expenditure is projected to reach $12.9 billion by 2024, up from $9 billion in 2019, with a CAGR of 7.3% [10][19]. - The global pool robot shipment volume is expected to increase from 2.5 million units in 2019 to 4.5 million units in 2024, corresponding to a CAGR of 12.0% [18][19]. Industry Structure - The market is characterized by a "dual super, many strong" structure, with Maytronics and Fluidra holding market shares of 34.8% and 18.5%, respectively, while Wangyuan Technology leads the cordless segment with a 19.7% market share [29][30]. Company Profile: Wangyuan Technology - Wangyuan Technology has successfully transitioned from an ODM to an OBM model, establishing its own brands, WYBOT and Winny, and expanding its product matrix to include cordless, corded, and handheld pool cleaning solutions [2][29]. - The company's revenue has grown from 57 million yuan in 2019 to 544 million yuan in 2024, with a CAGR of 57.0% [33]. - The gross margin is projected to be 58.0% in 2024, with a further increase to 65.2% in the first half of 2025, despite a decline in net margin due to increased sales expenses [38][39].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The automotive sector is awaiting a turning point in passenger vehicle sales, with RoboX company making steady progress [5][7] - The tools sector is seeing significant developments, including the establishment of the QuanFeng Vietnam park and exciting new products showcased at CES [6][27] Automotive Sector Summary - The Hang Seng Automotive Theme Index increased by 2.2%, outperforming the Hang Seng Index (-0.4%) and the Hang Seng Technology Index (-0.4%) [5][13] - In December 2025, the passenger vehicle market reached a new high with retail sales of 2,374.5 million units, including 1,280.9 million units of new energy vehicles, marking a 17.6% year-on-year growth [14] - January 2026 passenger vehicle sales are expected to see a slight year-on-year increase, with an estimated total market retail of around 1.8 million units [15] - New vehicle launches have been relatively quiet, with the Geely Galaxy V900 being the only notable release [19][20] - RoboX plans to deploy 100,000 fully customized Robotaxis globally by 2030, enhancing commercial operations [22] Tools Sector Summary - The establishment of the QuanFeng (Vietnam) New Energy Intelligent Manufacturing Base marks a significant step in global strategic layout [39] - At CES 2026, several innovative home robot products were showcased, including the G-Rover by Stone Technology, which features a dual-wheel leg architecture [40] - Milwaukee Tools opened a flagship experience center in the UK, enhancing strategic value and user engagement [53]

Investment Rating - The industry investment rating is "Overweight" indicating that the industry index is expected to outperform the CSI 300 index by at least 10% over the next six months [31]. Core Insights - The report highlights significant developments in the mechanical equipment industry, particularly in the detection services and rail transit equipment sectors, as well as advancements in the embodied intelligence product landscape showcased at CES 2026 [3][12][14]. Summary by Sections Detection Services - SGS Group announced the acquisition of Panacea Infosec to enhance its capabilities in payment security and information security, aiming to add at least 200 million Swiss francs in additional revenue by 2027 [9]. - Lianjian Technology plans to acquire a 55% stake in Zhongding Testing for 101 million yuan, strengthening its position in the consumer goods and food testing sector [10]. - Guangdian Measurement has received approval for a stock issuance to raise up to 1.3 billion yuan for various projects, including testing platforms for aerospace equipment and AI chips [11]. Rail Transit Equipment - The national railway is set to upgrade its transport capacity with new lines scheduled for production in 2026, including an increase of 243 passenger trains and 177 freight trains [12]. - Jinchuan Group expects a significant profit increase for 2025, projecting a net profit of 540 million to 620 million yuan, driven by improved gross margins and increased delivery volumes in high-speed train components [13]. Embodied Intelligence Industry - CES 2026 showcased a diverse range of AI hardware and robots, with a focus on vertical applications rather than generic products, indicating a shift towards more specialized solutions [14]. - Key investment themes include tracking the commercialization progress of whole machine enterprises, focusing on high-barrier core components, and recognizing platform manufacturing companies with global response capabilities [27]. - The report emphasizes the importance of advancements in sensors and actuators, with companies like Leisai Intelligent and others showcasing integrated joint modules and high-precision components [24][26].