以旧换新扩围至“智能影音”：音响纳入补贴，电声产业链迎内需政策红利

政策要点：智能影音首入补贴视野

商务部、国家发展改革委等7部门联合印发《关于提质增效实施2026年消费品以旧换新政策的通知》（商消费司函2025年第697号），在延续汽车、6类家电、4类数码智能产品全国统一补贴的基础上，赋予地方更多自主空间：可使用配套资金，自主确定补贴品类与标准，重点支持新一代智能终端。

政策落地已现端倪。2026年6月，广西将“智能影音（含音响、投影仪）”新增为自主补贴品类，按产品最终销售价格的15%给予补贴，单件最高1500元。智能、绿色消费品的补贴扩容，直接惠及音响整机与上下游产业链。

内需回暖：自主品牌占比稳步抬升

政策红利叠加消费升级，行业结构持续优化。据行业研究报告，2025年中国音响设备出口产品中自主品牌占比达到31.5%；2025年搭载AI功能的音响设备出口额达74.1亿美元，同比增长34.8%。内需与出海“双轮”之下，音响制造正从价格竞争转向技术壁垒与生态绑定。

久巨视角：消费扩量，上游自动化先行受益

以旧换新刺激终端消费，整机厂订单回升必然带动产能扩张与产线升级。音响产能每上一个台阶，磁路、音圈、装配环节的一致性与良率要求就提高一分。久巨喇叭自动装配解决方案覆盖的恰是音响整机厂在扩产周期中稳定品质、摊薄人工成本的关键装备。政策窗口期，正是规划自动化产线的好时机。

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