ZHI-TECH(SZ:300785) Xin Hua Cai Jing·2025-06-19 03:07Core Insights - The core business of the company, "What Worth Buying," has facilitated 42 brands to achieve over 10 million GMV (Gross Merchandise Volume) during the 618 shopping festival, with content publication volume increasing by 17.28% year-on-year [1] - The 618 shopping festival this year, which started on May 13, is the longest in history, focusing on long-term operations and easing shopping pressure, reflecting a shift towards quality and interest-driven consumption [1][2] Group 1: Sales Performance - The top five GMV categories on the "What Worth Buying" platform during the 618 period were mobile communication, home appliances, computer systems, household electrical appliances, and computer accessories [1] - The fastest-growing categories in terms of GMV year-on-year were gaming hardware (180.18%), dining and food (91.37%), office equipment (35.04%), electronic education (33.11%), and smart devices (24.60%) [1] Group 2: Consumer Trends - Consumers are increasingly opting for "upgrading" products with better features and specifications, driven by government subsidies and promotional events [2] - The "old for new" program has significantly boosted sales in categories like computers, home appliances, and home decor, with a year-on-year GMV increase of 12.82% [2] Group 3: Brand Engagement - The LABUBU brand saw a GMV increase of 53.60% on the "What Worth Buying" platform during the 618 period, with a notable spike of 231.91% in interest following a viral auction event [3] - The 618 shopping festival serves as a critical platform for brands and platforms to deepen user connections and test their comprehensive capabilities [3][4] Group 4: Market Outlook - The 618 festival is viewed as a key indicator of consumer resilience and innovation in China, with the explosive growth of interest-driven consumption highlighting the ongoing demand for new business models [4]