合规化成核心竞争力

Group 1 - The core viewpoint is that cross-border e-commerce faces regulatory risks due to tariff adjustments in Europe and the U.S., and companies must navigate these challenges to maintain compliance and attract capital and market interest [1] - The European Union will eliminate the €150 tax exemption for small packages starting July 1, 2026, impacting the previous strategies of tax evasion through "drop shipping" or "small package direct shipping" [1] - The IPO review process will focus on companies' "overseas warehouse distribution capabilities" and "localization progress in the supply chain" [1] Group 2 - Compliance is emphasized as a core competitive advantage for companies, essential for long-term development regardless of whether they go public [2] - Companies are focusing their fundraising on overseas warehouse construction, R&D investment, and brand marketing [2] - Key indicators for maintaining capital market recognition include R&D investment density (5%-8% of revenue), overseas localization asset ratio (warehouse area and local employee ratio), and a repurchase rate of 30%-40% for consumer hardware [2]