Core Viewpoint - The article discusses the fluctuations in China's home appliance exports in 2025, highlighting the challenges posed by changing tariffs and the strategies employed by Chinese companies to mitigate these impacts while maintaining their status as a global manufacturing and export powerhouse in the home appliance sector [3]. Group 1: Challenges and Strategies - Chinese companies are facing significant challenges due to sudden tariff increases, such as the over 100% tariff imposed by the U.S. in April 2025, which led to order cancellations and financial strain [5]. - Companies like 乐途电器 explored various countries for production facilities, including Vietnam and Cambodia, but faced obstacles such as high rental costs and geopolitical issues affecting power supply [5][6]. - After multiple assessments, 乐途电器 ultimately decided to expand its production capacity in China rather than establishing overseas factories, reflecting a broader trend among Chinese manufacturers to prioritize domestic production amidst tariff uncertainties [6][7]. Group 2: Market Dynamics and Performance - Despite tariff disruptions, companies like 新宝股份 and TCL are still primarily producing for the U.S. market domestically, indicating a reliance on local manufacturing to meet demand [7][8]. - 海尔智家 reported growth in the North American market by enhancing local production efficiency and expanding regional capacity, while also achieving significant revenue growth in emerging markets [11]. - The overall export volume of large home appliances from China is expected to reach a record high of over 210 million units in 2025, with varying performance across different product categories [13]. Group 3: Global Expansion and Localization - Chinese home appliance brands are increasingly focusing on localization strategies, moving from merely exporting products to establishing a presence in local markets through production and branding efforts [10][14]. - Major companies are investing in overseas production bases and enhancing their marketing strategies, including sports sponsorships, to strengthen brand recognition and consumer engagement [12]. - The trend indicates a shift towards a model of "Chinese R&D + overseas production + local sales," which aims to mitigate trade risks and align more closely with market demands [14].

Core Viewpoint - The Chinese home appliance industry is experiencing fluctuations in exports due to changing tariffs, but China remains a dominant manufacturing and exporting country, with brands continuing to expand globally despite challenges [4]. Group 1: Company Strategies - Leto Electric decided to continue production in China while exploring overseas markets after facing unexpected tariff increases in the U.S. [5] - The company faced challenges with U.S. tariffs exceeding 100%, leading to canceled orders and financial strain, prompting exploration of production in Vietnam and Cambodia [5][6]. - After evaluating production options in Cambodia and Malaysia, Leto ultimately chose to expand its production capacity in China, increasing factory space by one-third [6][10]. Group 2: Industry Trends - Despite tariff disruptions, companies like Leto and Xinbao continue to prioritize domestic production for U.S. orders, with Xinbao expanding its manufacturing base in Indonesia [7]. - Major brands like Haier and Midea are enhancing their overseas production capabilities and focusing on local market engagement through sports marketing and brand interaction [9][10]. - The global home appliance market is projected to grow, with retail volume expected to reach 7.8 billion units and retail value to reach $425 billion by 2028, indicating a compound annual growth rate of 1.8% and 2.5% respectively [9]. Group 3: Market Dynamics - The Chinese home appliance sector is expected to see stable growth in exports, with an estimated 21 million units exported in 2025, despite varying performance across product categories [10]. - Chinese brands are increasingly dominating the global market for robotic vacuum cleaners, capturing 65.7% of the market share [11]. - The trend of Chinese brands transitioning from merely exporting products to establishing a local presence and adapting to market needs is becoming more pronounced [12].

（编辑 任世碧） 证券日报网讯 12月22日，飞荣达在互动平台回答投资者提问时表示，公司目前在服务器、终端设备领 域研发的散热产品包含导热材料及各类散热模组、风扇、3DVC散热器、特种散热器、单相液冷冷板模 组、两相液冷冷板模组等，公司在液冷散热领域也已展现出显著的技术优势，在业务推进上取得了显著 进展。数据中心、服务器客户包括：H公司、中兴、思科、浪潮、大唐移动、烽火超微、新华三、超聚 变、联想、纬创、纬颖、仁宝、华硕、东方通信、神州鲲泰及其他重要客户等。关于部分重要客户的合 作细节，因涉及商业保密协议，不便于对外披露。随着液冷散热市场空间和市场潜力的逐步释放，公司 将依托技术创新、产品优化，以及在市场服务的深度挖掘，持续巩固并扩大公司在散热领域的竞争优 势。同时，公司也将持续加大对液冷相关产品的研发及技术创新投入，不断探索和深化液冷技术在各个 领域的应用，以推动公司产业进步和满足市场需求。 ...

天眼查App显示，近日，广州市八洋制冷科技有限公司成立，法定代表人为杨波，注册资本50万人民 币，经营范围为工程和技术研究和试验发展;制冷、空调设备销售;制冷、空调设备制造;风机、风扇销 售;风机、风扇制造;通用设备制造（不含特种设备制造）;气体压缩机械制造;气体压缩机械销售;发电机 及发电机组制造;发电机及发电机组销售;电机制造;电气设备修理;通用设备修理;金属制品修理;家用电器 安装服务;普通机械设备安装服务;工业自动控制系统装置制造;机械设备租赁;气体、液体分离及纯净设 备制造;气体、液体分离及纯净设备销售;互联网销售（除销售需要许可的商品）;国内贸易代理;贸易经 纪;货物进出口;技术进出口。 ...

天眼查App显示，近日，深圳文誉兴通风设备有限公司成立，法定代表人为黄基朋，注册资本10万人民 币，经营范围为一般经营项目是：金属丝绳及其制品销售；金属丝绳及其制品制造；金属结构销售；有 色金属压延加工；五金产品零售；信息咨询服务（不含许可类信息咨询服务）；劳务服务（不含劳务派 遣）；风机、风扇销售；金属材料销售；保温材料销售；隔热和隔音材料销售；建筑材料销售；建筑工 程用机械销售；机械设备销售；工程管理服务；阀门和旋塞销售；制冷、空调设备销售；厨具卫具及日 用杂品零售；电子产品销售；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；集成 电路销售；电工仪器仪表销售；电子测量仪器销售；半导体器件专用设备销售；计算机软硬件及辅助设 备零售；电力电子元器件销售；电子元器件零售；气体、液体分离及纯净设备销售；环境保护专用设备 销售；货物进出口；技术进出口。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）， 许可经营项目是：无。 ...

天眼查App显示，近日，太仓市长帆电线电缆有限公司成立，法定代表人为谷曼曼，注册资本50万人民 币，经营范围为一般项目：电线、电缆经营；光缆销售；五金产品批发；五金产品零售；机械电气设备 销售；家用电器销售；家用电器零配件销售；电子元器件零售；建筑材料销售；电子产品销售；金属制 品销售；机械设备销售；风机、风扇销售；塑料制品销售；配电开关控制设备销售；智能仪器仪表销 售；智能输配电及控制设备销售；电工器材销售；电工仪器仪表销售；电力电子元器件销售；照明器具 销售；日用品销售（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

天眼查App显示，近日，眉山浩睿兰缘再生资源回收有限公司成立，法定代表人为刘强，注册资本100 万人民币，经营范围为一般项目：再生资源回收（除生产性废旧金属）；再生资源销售；生产性废旧金 属回收；风机、风扇销售；日用家电零售；日用百货销售；机械设备租赁；家用电器零配件销售；日用 电器修理；二手日用百货销售；旧货销售；机械电气设备销售；家用电器销售；家用电器安装服务；电 子产品销售；五金产品批发；五金产品零售；机械设备销售；建筑材料销售；通讯设备销售；仪器仪表 销售；制冷、空调设备销售；家具销售。（除依法须经批准的项目外，凭营业执照依法自主开展经营活 动）许可项目：建筑物拆除作业（爆破作业除外）。（依法须经批准的项目，经相关部门批准后方可开 展经营活动，具体经营项目以相关部门批准文件或许可证件为准）（涉及国家规定实施准入特别管理措 施的除外）。 ...

天眼查App显示，近日，台州元富机电有限公司成立，法定代表人为叶巧侠，注册资本10万人民币，经 营范围为一般项目：泵及真空设备销售；风机、风扇销售；气体压缩机械销售；微特电机及组件销售； 机械电气设备销售；电力电子元器件销售；制冷、空调设备销售；日用百货销售；家用电器销售；光伏 设备及元器件销售；金属切割及焊接设备销售；喷枪及类似器具销售；渔业机械销售；机械设备销售； 有色金属合金销售；机械零件、零部件销售；发电机及发电机组销售；五金产品批发；配电开关控制设 备销售；塑料制品销售；橡胶制品销售；锻件及粉末冶金制品销售（除依法须经批准的项目外，凭营业 执照依法自主开展经营活动）。 ...

人民财讯12月8日电，飞荣达12月8日在互动平台表示，公司积极关注机器人领域发展，在具身智能领域 聚焦人形机器人、AR/VR、智能穿戴等应用场景进行布局，围绕其AI芯片、关节电机、传感器等部件 的散热与结构支撑需求，飞荣达可提供灵巧手、关节模组相关产品、风扇、一体化散热模组、轻量化结 构件及导热材料等产品，适配高功率密度、小型化及动态交互场景，可支撑设备稳定运行。目前，部分 产品已通过部分客户认证，处于送样、测试或小批量供货阶段，为公司后续业务拓展奠定基础。 转自：证券时报 ...

（编辑 楚丽君） 证券日报网讯 12月5日，超频三在互动平台回答投资者提问时表示，公司水冷散热器、风冷散热器、风 扇、机箱、电源等系列产品通过京东等平台线上销售，可通过公司官网、公众号或官方旗舰店了解更多 产品详情。具体的销售情况请以公司披露的定期报告为准。 ...