輕工制造-周觀點(diǎn)：AI家居設(shè)計(jì)春風(fēng)起新型煙草傳遞積極信號(hào)

行業(yè)評(píng)級(jí)【興證輕工】家居行業(yè)專題報(bào)告（二AI賦能家居設(shè)計(jì)春風(fēng)起-2025.02【興證輕工】周觀點(diǎn)：多地出臺(tái)家居國(guó)【興證輕工】周觀點(diǎn)：出口板塊2024Q4投資要點(diǎn)：歸母凈利潤(rùn)4.48億元，同比+27.13%。收入端合毛利率提升；2.運(yùn)營(yíng)效率提高，資產(chǎn)減值請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明 3 5 5 6 8 9 3 3 3 5 5 5 5 5 5 6 6 6 6 6 6 7 7 8 8 8 8 9 9 9 9 4請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明別實(shí)現(xiàn)漲跌幅+1.70%、+0.56%、+0.27,0006,0005,0004,0003,0002,000 近一周漲跌幅近兩周漲跌幅近一月漲跌幅年初至今漲跌幅61%-5%-5%-6%-8%-11%請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明（元）-請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明圖6、本周國(guó)內(nèi)針葉漿均價(jià)6065元/噸，周環(huán)比- 平1000 5004003002000 800070006000500040003000 平 請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明 9000800070006000500040003000 35003000 請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明 800075007000650060005500500045004000 請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明02019-02-092019-06-092019-10-092020-02-092020-06-092020-10-092021-02-092021-06-092021-2019-02-092019-06-092019-10-092020-02-092020-06-092020-10-092021-02-092021-06-092021-10-092022-02-092022-06-092022-10-092023-02-092023-06-092023-10-092024-02-092024-06-092024-10-092025-02-09 十大城市:商品房成交套數(shù):當(dāng)周值（左軸） 十大城市:商品房存銷比(套數(shù)):當(dāng)周值（右軸）60406040600204000(20)200(20)2019-122020-032020-092020-122021-032021-092021-122022-062022-122019-122020-032020-092020-122021-032021-092021-122022-062022-122023-062023-092023-122024-032024-092024-12美國(guó):成屋銷售:當(dāng)月值（萬(wàn)套，左軸） 美國(guó):成屋銷售：當(dāng)月同比（%，右軸）25,00020,00015,00010,0005,00001,500401,00002019-122020-032020-062019-122020-032020-062020-092020-122021-032021-062021-092021-122022-032022-062022-092022-122023-032023-062023-092023-122024-032024-062024-092024-12(20)(40)美國(guó):新建住房銷售:當(dāng)月值(千套，左軸） 美國(guó):新建住房銷售：當(dāng)月同比（%，右軸）請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明2021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-1402021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-14 2021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-1402021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-14 圖24、本周聚乙烯價(jià)格7808元/噸，周環(huán)比2021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-142021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-14 圖25、本周聚丙烯價(jià)格7355元/噸，周環(huán)比2021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-142021-02-142021-05-142021-08-142021-11-142022-02-142022-05-142022-08-142022-11-142023-02-142023-05-142023-08-142023-11-142024-02-142024-05-142024-08-142024-11-142025-02-14 請(qǐng)閱讀最后評(píng)級(jí)說(shuō)明和重要聲明地反映了本人的研究觀點(diǎn)。本人不曾因，不因，也將不會(huì)因本報(bào)告中的具體推薦意見(jiàn)或觀點(diǎn)而直接或間接收到任報(bào)告中投資建議所涉及的評(píng)級(jí)分為股票評(píng)級(jí)指數(shù)）相對(duì)同期相關(guān)證券市場(chǎng)代表性指數(shù)的三板市場(chǎng)以三板成指為基準(zhǔn)；香港市場(chǎng)以恒相對(duì)同期相關(guān)證券市場(chǎng)代表性指數(shù)漲幅在-5%確定性事件，或者其他原因，致使我們無(wú)法給出明確的等均僅供客戶參考，不構(gòu)成所述證券買賣的或者分擔(dān)證券投資損失的書面或口頭承諾均為無(wú)效，任何有關(guān)本本報(bào)告完整版本為準(zhǔn)。該等信息、意見(jiàn)并未考慮到獲取本報(bào)告人員的推薦?？蛻魬?yīng)當(dāng)對(duì)本報(bào)告中的信息和意見(jiàn)進(jìn)行獨(dú)立評(píng)估，并應(yīng)等方面咨詢專家的意見(jiàn)。對(duì)依據(jù)或者使用本報(bào)告所造成的一切后果，本公司及/或其關(guān)聯(lián)人員均不承使用本報(bào)告所包含的材料產(chǎn)生的任何直接或間接損失或與此相關(guān)本報(bào)告所載的資料、意見(jiàn)及推測(cè)僅