上篇提到安克创新依靠红利崛起，却在浅海战略与多品类扩张中陷入增长瓶颈：组织跟不上、创新顶不 住、新品类做不强。 当扩张之路越走越窄，安克终于清醒 ——真正决定一家出海品牌能走多远的，从来不是 SKU 数量，而 是渠道底气与品牌厚度。也正是从这一步开始，安克正式启动了关乎未来生死的系统性转型：从依赖平 台流量，转向构建真正属于自己的渠道、品牌与长期能力。 渠道去依赖化 从 "亚马逊一家独大" 到全渠道布局 在品类扩张遇阻的同时，安克也意识到了渠道依赖的风险，并开启了渠道转型。2025 年上半年，亚马 逊渠道营收占比精准降至49.97%，首次跌破 50% 大关，标志着安克正式告别 "亚马逊依赖" 时代；2025 年全年，这一占比进一步回落至约 45%，渠道多元化成效持续巩固。随着欧美线下渠道、自有独立站 高速增长，安克已形成 "亚马逊 + 线下 + 独立站" 的全渠道结构，为应对平台波动与外部风险提供了缓 冲。 安克能切入 Best Buy、Walmart、Costco 等北美主流线下渠道，在业内人士看来，核心是完成了从 "海 外供货商" 到 "本地品牌合作方" 的身份转换：先在亚马逊跑出稳定的销量、好评与退货率 ...

2026年开年，出海标杆安克创新动作频频，再度成为行业焦点。继2025年11月中旬官宣启动港股上市筹划后，2026年2月13日安克创新在投 资者互动平台披露储能业务最新布局，称公司致力于打造涵盖功率管理、智能功率分配与能效优化的全栈自研储能技术平台，多元系列产 品矩阵全面覆盖居家至户外的能源需求。 叠加此前组织优化的落地、储能业务的加速推进，这家海外营收占比超96%的中国跨境龙头，正处于战略调整的关键节点。同一时间，外部 经营环境不确定性的激增，中国跨境品牌们也经历着一场集体大考。 安克创新究竟如何起家？曾经被奉为教科书的标杆，为什么越扩张越乏力？而它今天遇到的坎，又为什么会成为所有出海品牌明天的命 运？ 安克正站在跨境品牌从红利时代走向能力时代的十字路口，其 "浅海战略" 遭遇的挑战、其品类扩张遇阻、组织能力滞后、创新陷入微改良 困境等问题的集中爆发，都让安克创新这一样本更具行业观察意义。 什么红利驱动崛起？ 效率套利与信任红利的双重加持 很多人把安克创新的成功归于 "产品厉害"，但真相或许是：它的崛起，是踩准跨境电商最大红利窗口的必然结果。 创始人阳萌曾公开回顾，2020 年提出 "浅海战略" 后，安克 ...

春节消费高景气，关注性价比、情绪价值和体验 [Table_Industry] 社会服务业 2026 年春节消费调研观察 春节线下零售和服务消费高景气，下沉市场客流更旺盛、线下消费更火热。 投资要点： [Table_Report] 相关报告 社会服务业《史上最长春节假期，文旅板块景气 度高》2026.02.23 社会服务业《千问加码外卖补贴，行业价格战趋 缓》2026.02.09 社会服务业《乐购新春方案出台，关注春节消费 表现》2026.02.08 社会服务业《政策推动、供求双旺，景区板块迎 黄金投资期》2026.02.07 社会服务业《政策支持服务消费发展，关注春节 数据》2026.02.01 票 研 究 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 刘越男(分析师) | 021-38677706 | liuyuenan@gtht.com | S0880516030003 | | 宋小寒(分析师) | 010-83939087 | songxiaohan@gtht.com | S0880524080011 | 本报告导读 ...

Investment Rating - The report maintains an "Overweight" rating for the consumer sector, particularly highlighting the potential in experience and emotional consumption, domestic travel, and AI technology products [7]. Core Insights - The report indicates a strong recovery in consumer spending during the Spring Festival, with key retail and catering enterprises showing an average daily sales increase of 8.6% compared to the same period last year [10]. - The report emphasizes the growth in experience consumption driven by travel and leisure activities, with significant increases in hotel occupancy and average daily rates during the holiday period [27]. - The report identifies structural opportunities in the market, particularly in AI technology consumption, emotional value products, and the rise of domestic brands [5]. Summary by Sections Retail Consumption - Retail sales during the Spring Festival showed a notable recovery, with a 8.6% increase in daily sales compared to the previous year, driven by improved consumer sentiment and a more active lower-tier market [10][12]. - Specific regions such as Hubei (+12%), Guangxi (+15%), and Nanjing (+17%) experienced rapid growth in consumption [2]. Domestic Travel - The report highlights a record high in cross-regional travel during the Spring Festival, with an estimated 3.1 billion daily movements, reflecting a 6.6% year-on-year increase [14]. - Key tourist destinations saw significant visitor numbers, with hotels experiencing a rise in both occupancy rates and average daily rates, indicating a robust recovery in the hospitality sector [27][19]. Experience Consumption - Experience consumption, particularly in travel and dining, has rebounded strongly, with restaurants like Haidilao reporting a 10% increase in customer flow during the holiday [33]. - Emotional consumption products, such as toys and scented items, gained popularity, with sales of pet clothing increasing by 116% during the holiday season [11]. AI Technology Consumption - The report notes a surge in sales of smart wearable devices, with a 19.7% increase in sales, and smart glasses seeing a growth of 250% [11]. - The introduction of new products under the "old for new" policy is expected to drive further growth in the AI technology sector [11]. Investment Recommendations - The report recommends several companies for investment, including Pop Mart, Haidilao, and Midea Group, focusing on emotional and experience consumption, domestic brand growth, and AI technology [5].

Investment Rating - The report assigns an "Increase" rating for the retail and wholesale trade industry, indicating an expected performance that exceeds the Shanghai and Shenzhen 300 Index by over 15% [5]. Core Insights - The U.S. Supreme Court ruled that the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal, leading to a proposed 5% reduction in tariffs on Chinese goods through the implementation of Section 122 of the Trade Act of 1974 [2][5]. - The Section 122 tariffs will have a broad exemption list, including critical minerals, energy products, certain agricultural products, pharmaceuticals, and vehicles, ensuring limited scope for the tariffs [4]. - The new tariffs will apply a uniform global rate of up to 15%, eliminating previous country-specific differences, thus impacting most trade partners similarly [4]. Summary by Sections Legal Context - The Supreme Court's decision on February 20, 2026, overturned the previous tariffs under IEEPA, stating that the power to impose taxes lies with Congress, not the President [5]. - The new tariffs under Section 122 are set to be temporary, with a maximum duration of 150 days unless extended by Congress [5]. Tariff Structure - The current tariff structure on Chinese goods includes four categories: 301 tariffs (7.5%-25%), 232 tariffs (25-50%), the new 122 tariffs (15%), and special taxes (e.g., fentanyl and reciprocal tariffs totaling 20%) [5]. - The ruling results in a net reduction of approximately 5% in tariffs on Chinese goods, alleviating some pressure on trade [5]. Investment Recommendations - The report recommends several companies for investment, including Anker Innovations, Ugreen Technology, Saiwei Times, Sumida, Jihong Co., and Zhiou Technology, all rated for "Increase" [5][6].

证券之星消息，根据企查查数据显示安克创新（300866）公布了一项国际专利申请，专利名为"支架组 件"，专利申请号为PCT/CN2025/107642，国际公布日为2026年2月19日。 图片来源：世界知识产权组织（WIPO） 今年以来安克创新已公布的国际专利申请18个，较去年同期增加了100%。结合公司2025年中报财务数 据，2025上半年公司在研发方面投入了11.95亿元，同比增49.35%。 数据来源：企查查 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 专利详情如下： ...

Group 1 - The core viewpoint of the article is that Anker Innovations has stated that its financial data will be disclosed in periodic reports as per information disclosure regulations [1] - The company encourages investors to pay attention to its future periodic reports published on designated information disclosure media for specific financial data [1]

Core Viewpoint - Anker Innovations has established itself as a leader in the global balcony energy storage market, with strong performance in the European market [1] Market Expansion - The company is intensifying its efforts to expand beyond Germany, indicating significant growth potential in both regional and channel coverage [1] - Current focus areas for expansion include Northeast and Central Europe, aiming to enhance market penetration through refined operations [1] Product Strategy - Anker Innovations plans to adjust its product mix to meet the differentiated needs of regional consumers, which is part of its strategy to increase market share in Europe [1]

（文章来源：证券日报） 证券日报网讯 2月13日，安克创新在互动平台回答投资者提问时表示，公司始终秉持"第一性、求极 致、共成长"的核心价值观，并通过持续完善治理体系以保障长期稳健经营。在质量控制方面，公司积 极响应行业标准升级，坚持以"用户安全"为核心，聚焦电芯安全联合设计、电池管理系统（BMS）可靠 性、认证符合性及测试验证四大领域，全面构建覆盖"研发设计—来料把控—生产过程—质量检验—市 场反馈"的全生命周期质量闭环管理体系。 ...

本文源自：市场资讯 作者：公告君 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 有投资者在互动平台向安克创新提问："你好，贵司在25年12月2号向港交所提交主板上市申请，计划在 春节前完成港股上市的。目前距离春节（正常工作日不到5天），目前还没有港交所上市的公告，在申 请过程中是不是遇到了什么问题？被港交所叫停上市了，还是什么原因？这是不是最近大跌的原因，因 为毕竟安克这家公司处在的所有板块中唯一跌幅最高的股票了。" 针对上述提问，安克创新回应称："您好！感谢您对公司的关注。关于公司在2025年12月2日向港交所提 交的主板上市申请，当前推进正常，无异常情况。公司将根据港交所的审议进程，及时在指定信息披露 媒体发布相关公告，敬请关注。" ...