Wi-Fi、ZigBee、蓝牙等多种无线通信方式各有优劣，厂商各自联盟，未来较为统一的行业通信标准将逐渐形成
在传感器、材料等领域中，将会产生柔性屏等技术突破以及人机交互模式的创新

随着消费能力的提升和消费主力群体的转变，轻工消费品正由过去的看重高性价比、耐用性向强调品牌、个性化、美观度演进，需求层次由满足基本的生存和功能性需求向娱乐型需求推进；供给端轻工制造企业也由简单的规模化生产、贴牌代工向设计+品牌两端提升，通过提供高附加值服务获取更多产品溢价。重点推荐家具、玩具、文具、教育领域的品牌崛起。

本轮地产销售转好主要拉动因素是三四线城市，那些在三四线城市布局良好，长期深耕的公司拥有区位优势。未来随着本轮地产旺销带来的家具消费量的提升，那些客单价高为客户提供多品类，乃至全屋解决方案的公司无意拥有更大的业绩弹性。

In an attempt to increase the awareness of the availability of products and build brand image in emerging markets, marketers of global recliner sofas are implementing strategies to improve sales performance by integrating physical and online retail stores and implementing delicacy management. They are also focusing on upgrading existing brands to increase their respective market's share and brand awareness, and also on improving the supply chain.The key contributing markets for recliner sofas include the US, Germany, China,

and Japan. Together, these four markets controlled 45.42% of the overall market's revenue in 2015.Marketers operating in this space have adopted differentiated strategies for developed markets like North America and Western Europe. These strategies include maintaining long-term cooperative relationships with quality retailers,continuously focus on innovating new products, and responding more swiftly to

customer demand.

上周要点：价值回归，次新股退潮、基本面不支持的个股继续回调。新股发行速度较快的背景下，前期透支明显的次新股、基本面不支撑的个股回调幅度较大（明确进行控股权转让个股除外）：银鸽投资（ -10.23%，控股权转让主题下市值偏大）、裕同科技（ -7.66%， 16 年 12 月 IPO 包装类公司）、瑞尔特（ -6.99%、16 年 3 月上市卫浴）、山东华鹏（ -5.37%，高送转次新股）、创新股份（ -4.33%， 16 年 9 月上市包装类公司）；基本面具有支撑型、估值合理个股在本周表现相对较好：老凤祥 6.34%、太阳纸业上涨 5.24%、晨鸣纸业5.79%、山鹰纸业 4.1%。

家居消费中长期逻辑推荐具有“巨头”增长潜力的龙头:我国作为较新兴市场，目前家居消费与房地产还表现出较强的相关性与滞后效应，但是借鉴日韩等较成熟市场地产与家居消费的联动，预期未来关联度将不断减弱。估测我国家具消费的增长中枢约为 10%左右，而地产周期的波动可能对家具消费带来 5%左右的上下浮动。由于家居消费具有独立于地产周期的更新需求和结构性消费升级趋势，成长性并不会与地产趋同。

Decking is defined as a flat or profiled (anti-slip) timber surface designed as a structure to be deployed for outdoor use. Decking can be done either on the ground or above the ground, and it can be done in different ways: As an extension of the indoor living space As part of garden landscape As an alternative to stone patios and more

2016 年 10 月，除家具、木材加工行业涨幅明显外，轻工行业主要子行业投资额增速基本与上月持平；纸类、 电器类等终端消费品产量增速明显回升，塑料制品产量保持低位；综合成本增加使轻工业面临涨价压力；轻工产品进口需求普遍稳定，空调进口骤降；年末需求增温，主要轻工产品出口额增速止跌企稳；主要轻工行业利润增速保持稳定。

Advanced ceramics are mainly produced by controlled crystallization of certain chemicals, generally induced by nucleating additives. They are made of nitrates, carbides, oxides, and other materials using modern processing technologies. These ceramics are hard, durable, wear resistant, corrosion resistant, and have different electrical properties. The properties of these ceramics depend on their composition and microstructure.

其他家用轻工、文娱用品、造纸板块指数表现较好。年初以来沪深 300 指数下跌4.48%，轻工板块下跌 9.98%，跑输大盘 5.50pct；下半年以来轻工板块上涨 10.78%，跑输大盘 2.23pct。子板块中，年初以来其他家用轻工、造纸版块分别跑赢大盘13.98pct、5.66pct；下半年以来，文娱用品子版块也表现靓丽，跑赢大盘 6.97pct。 三季报回顾：营收增长加速，盈利能力大幅提高。