深圳市漫步者科技股份有限公司 关于运用自有闲置资金进行委托理财的进展公告 证券代码：002351 证券简称：漫步者 公告编号：2025-035 深圳市漫步者科技股份有限公司 关于运用自有闲置资金进行委托理财的进展公告 | 序 | 产品 | 金额 | 预期年化收 | 关联 | 委托人 | 受托人名称 | 产品名称 | 起始日期 | 终止日期 | 号 | 类型 | （万元） | 益率 | 关系 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 交银理财稳享 | | | | | | | | | | | | | | | | | | | | | | | | 交银理财有 | 灵动慧利日开 | 浮动 | 年 | 天后可 | 6 | 2025 | 9 | 180 | 公司 | 无 | 5 | 3,000 | 4.12 | % | 限责任公司 | 号（180 | ...

Core Viewpoint - The company is focusing on integrating advanced AI technologies into various audio products, including OWS headphones, TWS headphones, headsets, speakers, and microphones, while assessing the transition from investment to revenue generation in this sector [2]. Group 1: Investment in AI Technology - The company has made significant investments in AI technology, which are currently within a reasonable range and have not adversely affected its performance [2]. - The application of AI in audio devices is still in the early stages, with user experience needing further enhancement and market awareness being limited [2]. Group 2: Future Outlook - The company plans to continue investing in AI-related technologies, product refinement, and user engagement to gain user recognition and drive revenue growth [2].

Core Insights - The article emphasizes the shift in consumer demand from purely functional products to those that also prioritize aesthetics and personal expression, particularly in the audio equipment market [1][3][12] - The introduction of the NEW CYBER audio device by the company represents a significant innovation that combines technology and aesthetics, targeting the emerging "desktop culture" among younger consumers [1][6][15] Market Trends - The Chinese Bluetooth speaker market is projected to reach 25.9 million units in sales by 2025, with a year-on-year growth of 4.1%, indicating a recovery despite previous market stagnation [3] - Consumer preferences are evolving towards "self-pleasure" consumption, focusing on emotional value and aesthetic experience rather than just functionality [3][12] Product Features - NEW CYBER features a unique design inspired by a mini seaside house, incorporating a modular structure and industrial aesthetics, enhancing the immersive audio-visual experience [4][8] - The product includes a 2.8-inch color screen for dynamic lyric display, customizable themes, and real-time monitoring of device status, elevating the user experience [11][15] Technological Innovation - Built on 29 years of acoustic research, NEW CYBER utilizes a 2.1 acoustic architecture with a combination of various speaker units and a dual-channel D-class amplifier, delivering high-quality sound [12][13] - The device supports multiple connectivity options, including Bluetooth V6.0 and USB sound card, catering to diverse consumer needs [15] Brand Positioning - The launch of NEW CYBER positions the company as a pioneer in integrating aesthetics with technology in the audio equipment sector, appealing to the younger demographic [15][16] - The brand's evolution reflects a deep understanding of modern lifestyle trends, establishing a new paradigm for how technology and aesthetics can coexist in consumer products [16]

Group 1 - The core point of the article is the controversy surrounding the recruitment of a Chinese-English translation assistant by Pang Donglai Group, offering an annual salary of 500,000 yuan, which has sparked significant public interest [5] - The job requires candidates to have graduated from one of the top 50 universities according to QS rankings, with specific majors and qualifications [5] - Only eight universities in China meet the basic recruitment criteria set by Pang Donglai, highlighting the competitive nature of the position [5] Group 2 - Faraday Future's founder, Jia Yueting, announced the establishment of a second creditor trust to expedite debt repayment and facilitate his return to China [5] - DJI clarified that its recent internal event featuring the Avata 360 was not an investor meeting, countering media speculation [6] - OpenAI suspended a toy manufacturer's access due to safety concerns regarding an AI teddy bear, reflecting increasing scrutiny on AI products [6] Group 3 - Xiaomi's SU7 Ultra and YU7 vehicles now feature free activation for built-in ETC systems, enhancing their market appeal [8] - The release of the NEW CYBER seaside room speaker by the fashion tech brand Huan Zai aims to redefine the role of speakers in desktop ecosystems [9] - Russia's President Putin announced a visa-free policy for Chinese citizens, which is expected to significantly enhance economic and cultural exchanges between the two countries [10] Group 4 - Meta is set to comply with new Australian laws by shutting down accounts of users under 16 on its platforms [13] - The European Court upheld the classification of Amazon as a "very large online platform," requiring it to adhere to stricter regulations [13] - Adobe agreed to acquire marketing platform Semrush for $1.9 billion, expected to close in the first half of 2026 [14] Group 5 - Nvidia reported a 62% year-over-year increase in revenue for its third fiscal quarter, reaching $57.01 billion [20] - Klarna's third-quarter revenue exceeded expectations at $903 million, following its listing on the New York Stock Exchange [21] - Kuaishou's third-quarter revenue reached 35.6 billion yuan, with a 69.9% year-over-year increase in operating profit [19]

Core Insights - The "Hachimi" meme has become a significant cultural phenomenon in the Chinese internet, leading to various commercial opportunities for brands like Joyoung [2][17][30] - Joyoung's "Hachimi North-South Green Bean Milk" has seen explosive sales, with over 200,000 orders on Douyin, indicating a successful capitalizing on internet culture [2][17] - The commercialization of the "Hachimi" meme has sparked a trend among other brands to create related products, showcasing the power of meme-driven marketing [4][6][17] Group 1: Meme and Cultural Impact - The "Hachimi" meme originated from a Japanese term meaning "honey water" and evolved through user-generated content, becoming a staple in cat videos [12][14] - A viral video featuring a stray orange cat contributed to the meme's resurgence, leading to the creation of various related content and merchandise [14][17] - The meme's commercialization reflects a broader trend in attention economy, where brands leverage viral content to engage younger consumers [19][20] Group 2: Brand Strategies and Market Response - Joyoung's success is attributed to its strategic use of the "Hachimi" meme, which resonated with consumers and created a sense of community and emotional value [21][30] - Other brands, including snack and personal care companies, have also jumped on the "Hachimi" bandwagon, indicating a competitive market response to viral trends [6][10][34] - The rapid commercialization of memes can lead to a decline in their cultural relevance, as seen in the lifecycle of internet trends [27][29] Group 3: Risks and Future Considerations - The commercialization of memes poses risks, as overexposure can lead to a loss of interest among core audiences, pushing them to seek new cultural symbols [27][30] - Brands must balance meme marketing with maintaining a strong product identity to avoid diluting their brand image [34] - The success of Joyoung may encourage other companies to explore meme-driven marketing, but the sustainability of such strategies remains uncertain [34][35]

Group 1: Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 20.56 billion yuan, a decrease of 4.16% compared to the same period last year [2] - Gross profit margin was 40.28%, showing a slight increase year-on-year [2] - Operating revenue for Q3 2025 was 7.38 billion yuan, indicating a further increase compared to the previous quarter [2] Group 2: Product Development and Market Strategy - The company launched several new products, including the X1 Evo TWS earphones weighing only 3.8g and the Lolli ANC Pro 5 with a noise reduction depth of -48dB [3][4] - The company is focusing on the rapidly growing open-ear headphone market, with over ten models launched to date [4] - A dual-line endorsement strategy was implemented in 2025, partnering with local celebrities in Thailand and Japan to enhance market reach [5] Group 3: Operational Highlights - The company has improved its overseas operational capabilities and expanded international e-commerce channels, leading to rapid growth in export business [3] - The introduction of AI features, such as real-time language translation and smart assistant capabilities, is being integrated into various products [4] - The company is committed to maintaining a strong investment in various forms of open-ear headphones across different price ranges and sub-brands [4]

Core Insights - AliExpress is aggressively competing with Amazon in the mid-to-high-end brand market, achieving significant sales growth during the overseas Double 11 event, with some brands exceeding Amazon's sales by 6-10 times [1][2] - The platform's "Super Brand Going Global Plan" aims to reduce operational costs for brands, making it more attractive compared to Amazon, which has led to a substantial increase in inventory for AliExpress [1] - The global e-commerce landscape is shifting, with AliExpress and Temu emerging as strong competitors to Amazon, focusing on brand and low-price strategies respectively [2] Group 1: Sales Performance - On the first day of the overseas Double 11, at least 200 brands achieved sales that were double Amazon's daily average, with leading brands like EDIFIER and 70mai seeing explosive growth [1] - ILIFE sold nearly 6,000 robotic vacuum cleaners on Double 11, with a year-on-year sales increase of 140% [1] Group 2: Competitive Strategy - AliExpress's operational costs are approximately half of Amazon's, with commission rates between 5%-10%, which is about 10 percentage points lower than Amazon [1] - The "Brand+" exclusive channel and mechanisms like price protection and free shipping are part of AliExpress's strategy to attract consumers and enhance brand visibility [2] Group 3: Market Expansion - AliExpress has increased its overseas marketing efforts, including pop-up stores in countries like South Korea and the UK, which have drawn significant consumer interest [4] - The overseas Double 11 event runs from November 11 to 19, followed by a seamless transition to Black Friday, providing a month-long sales opportunity for cross-border merchants [5]

Core Insights - AliExpress achieved significant sales growth during the overseas Double 11 event, with at least 200 brands surpassing Amazon's average daily sales by two times, and leading brands like EDIFIER and 70mai achieving sales 6-10 times higher than Amazon [1] Group 1: Sales Performance - On the first day of the Double 11 event, certain brands experienced explosive sales, with some achieving sales figures 6-10 times higher than their counterparts on Amazon [1] - The official flagship store of Pop Mart on AliExpress saw a 1500% increase in sales in October compared to the same period last year, driven by the brand's overseas expansion strategy [1] - Overall sales of trendy toys are projected to grow by 300% in the first half of 2025 [1] Group 2: Marketing and Consumer Engagement - AliExpress launched a "Super Brand Going Global Plan" in September, aiming to help brands achieve higher sales at half the cost compared to Amazon [1] - A pop-up store in Seoul's trendy area, Seongsu-dong, attracted a large number of consumers, with an average wait time exceeding one hour [1] - The overseas Double 11 sales event is scheduled from November 11 to November 19, followed by a seamless transition to Black Friday, continuing until December 3 [1]

Group 1 - The core viewpoint of the news is that Edifier's stock performance shows a decline in trading volume and financing activities, indicating potential challenges in market sentiment and investor confidence [1][2] Group 2 - On November 11, Edifier's stock price fell by 0.78%, with a trading volume of 123 million yuan. The financing buy-in amount was 11.40 million yuan, while the financing repayment was 14.51 million yuan, resulting in a net financing buy of -3.12 million yuan [1] - As of November 11, the total balance of margin trading for Edifier was 278 million yuan, with a financing balance of 276 million yuan, accounting for 2.43% of the circulating market value, which is below the 30th percentile level over the past year [1] - In terms of securities lending, Edifier had no shares repaid on November 11, with 11,200 shares sold short, amounting to 143,100 yuan at the closing price. The remaining short selling volume was 139,300 shares, with a balance of 1.78 million yuan, exceeding the 90th percentile level over the past year [1] Group 3 - As of September 30, Edifier had 79,400 shareholders, an increase of 5.44% from the previous period, while the average circulating shares per person decreased by 5.16% to 6,566 shares [2] - For the period from January to September 2025, Edifier reported operating revenue of 2.056 billion yuan, a year-on-year decrease of 4.16%, and a net profit attributable to shareholders of 300 million yuan, down 11.35% year-on-year [2] - Since its A-share listing, Edifier has distributed a total of 1.632 billion yuan in dividends, with 578 million yuan distributed over the past three years [2] Group 4 - Among the top ten circulating shareholders as of September 30, 2025, Hong Kong Central Clearing Limited was the fifth largest, holding 6.2269 million shares, a decrease of 8.9232 million shares from the previous period. The Southern CSI 1000 ETF was the eighth largest, holding 4.0700 million shares, down by 32,500 shares [2] - New shareholders include the招商安本增利债券C and 招商信用增强债券A, holding 3.0342 million shares and 2.5799 million shares respectively, while 银华数字经济股票发起式A exited the top ten circulating shareholders [2]

Group 1 - The stock price of Mambo (002351) closed at 12.77 yuan on November 5, 2025, with a slight increase of 0.16% and a turnover rate of 1.26%, indicating a trading volume of 65,700 shares and a transaction amount of 83.77 million yuan [1] - The company plans to repurchase 5.1 million shares for an employee stock ownership plan in 2024, showing a commitment to enhancing shareholder value [1] - The company is actively seeking suitable acquisition targets and will disclose any relevant projects in accordance with regulations, emphasizing its focus on core competitiveness and shareholder returns [1] Group 2 - On November 5, the net outflow of funds from major investors was 5.44 million yuan, while retail investors saw a net inflow of 7.18 million yuan, indicating differing investor behaviors in the market [2] - The overall trading information reflects a net outflow of 1.74 million yuan from speculative funds, highlighting a cautious sentiment among larger investors [2]