石头科技亚太销售负责人李平谈出海：出海要找差异化，就不能只在传统渠道上做文章

Core Insights - Stone Technology reported a revenue of 3.949 billion yuan from overseas business in the first half of 2025, marking a year-on-year growth of 72.15% [2] - The company has submitted an application for a listing on the Hong Kong Stock Exchange, aiming to establish an "A+H" market presence [3] Group 1: Overseas Expansion Strategy - Stone Technology has been expanding its overseas operations since 2018, achieving full coverage in key markets such as South Korea, Japan, Southeast Asia, and Turkey [5] - The company is now entering the South American and African markets, with some progress already made in South America [5] - The approach to overseas markets is characterized by local, differentiated, and refined operations, driven by efficiency [4][6] Group 2: Market Penetration and Channel Strategy - In different regions, Stone Technology employs a mix of online and offline channels, adapting to local cultural preferences [7] - For instance, in Vietnam, the focus is on offline channels, while in Thailand and Singapore, online channels dominate [8] - The company has established a strong presence in North America, utilizing major retail chains like Costco and Target, with over 2,000 stores engaged [9] Group 3: Product and Marketing Innovations - Stone Technology is implementing refined marketing strategies, including a trade-in program in South Korea and collaborative promotions with major appliance retailers in Japan [12][13] - The company emphasizes the importance of localizing its sales and brand teams to better integrate into local markets [15] - The introduction of a robotic vacuum with a mechanical arm at CES has received positive market feedback, indicating a focus on innovation [23] Group 4: Financial Health and Future Outlook - Stone Technology has a strong financial position with 6.4 billion yuan in cash and financial assets, negating concerns about cash flow for its Hong Kong listing [27] - The company anticipates continued high growth in overseas markets, particularly in the cleaning appliance segment, with significant sales increases in Europe and Asia [29] - Future plans include diversifying product offerings and enhancing price competitiveness to meet varying consumer needs [30]