中金发表报告，内地新一轮以旧换新政策落地，认为政策力度及补贴范围的扩大有望进一步刺激相关品类的消费需求，同时补贴机制的完善亦将降低企业参与的门槛，政策普及面有望进一步加大，带动家装及消费电子包装需求持续回暖。
报告称，去年家装补贴政策的拉动系数为1.17至1.75，10及11月龙头家居企业订单及销售均出现明显回暖，预计补贴力度扩大或将推动拉动系数的上升，同时家居龙头企业积极参与以旧换新，不断推进品类扩张和渠道融合，因此今年业绩有望恢复快速增长趋势。
报告提到，看好消费电子包装需求回暖空间，近期江苏、贵州及杭州等地已陆续推出消费电子以旧换新补贴类活动，对消费电子需求有较好的提振作用，认为裕同科技(002831.SZ) 作为全球消费电子包装龙头企业，有望直接受惠行业回暖。港股方面，推荐敏华控股(01999.HK) ，评级“跑赢行业”，目标价7元。(mn/u)(港股报价延迟最少十五分钟。沽空资料截至 2025-01-03 16:25。) (A股报价延迟最少十五分钟。)
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