1999年，中国跨境电商开始起步，少数卖家通过海外平台将义乌小商品、深圳电子配件销往全球， 彼时的交易依赖邮件沟通与邮政小包寄送，订单履约周期长达数月。时至今日，跨境电商已成为中国外 贸"新增长极"。 回望这段历程，跨境电商完成了从无到有、从萌芽到繁茂的蜕变。1995年，eBay在美国诞生； 2005年左右，中国跨境电商开始萌芽；2025年，跨境电商已经从"信息差红利"走向"供应链深耕"， 从"零散交易"升级为"生态协同"。eBay亲历了中国跨境电商的升级历程，也陪伴中国卖家实现从"工作 坊"到"品牌"的跨越。 在这场变革中，eBay国际跨境贸易事业部大中华区总经理林文奎既是见证者也是推动者。在厦门 举办的eBay 2025年度汽配卖家峰会上，林文奎讲述了他与eBay，他与中国跨境电商发展的故事。 "信息差"下的"粗粝"发展 2002年eBay投资并收购本土C2C电商平台易趣，探索本土化发展。2003年本土电商平台崛起，市场 格局演变。2006年eBay调整策略，将重心转向跨境贸易，为中国卖家打开全球市场通道。eBay的这一 战略转型，契合了eBay自创立起就具备的跨境电商基因——平台上的第一笔交易就是一笔跨 ...

中国民航网 通讯员张紫薇 报道：2025年是"十四五"规划收官与"十五五"规划布局的关键之年。面对全 球航空货运市场竞争日趋激烈、行业格局加速重构的形势，天津滨海机场主动融入国家战略，以服务适 空产业、赋能区域经济为核心，通过货源挖掘、特色业务突破与服务升级，实现货运业务规模与质量双 提升。 近年来，我国跨境电商保持高速增长势头，已成为驱动外贸高质量发展的新引擎。2025年，天津市跨境 电商进出口额已突破600亿元，发展成效显著。 （本文图片均由天津滨海国际机场提供） 打造华北包机基地 砺炼硬核保障实力 2025年，天津滨海机场在特种货物包机保障方面取得显著成果。8月，物流公司顺利完成精密医疗设备 包机的保障任务，其中单件最大尺寸达9.4米×3.15米×2.6米、重15吨，整批货物总重68吨。通过约3.5小 时的高效作业，圆满完成卸机任务，展现了处理高精度、大尺寸货物的专业能力。早在去年争取此航班 时，客户对天津滨海机场超大型货物运输能力存疑。为此，物流公司专项制作推介材料并持续跟进对 接，重点向客户推介天津滨海机场在安124保障方面的深厚经验，该机型近年已数百次到访天津，所有 运营此机型的航司均在津执飞过相 ...

来源：新浪证券-红岸工作室 4、根据2024年年报，公司海外营收占比为98.94%，受益于人民币贬值。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 今日主力净流入-476.17万，占比0.1%，行业排名55/76，连续3日被主力资金减仓；所属行业主力净流 入-2.40亿，连续3日被主力资金减仓。 1月13日，雅艺科技跌2.45%，成交额4574.61万元，换手率3.28%，总市值22.80亿元。 异动分析 露营经济+跨境电商+创投+人民币贬值受益 1、公司坚持自主研发的发展战略，始终专注于火盆、气炉等户外休闲家具的研发、生产和销售。经过 多年发展逐步成为拥有完整的研发设计、生产、销售和服务体系的公司；公司家居产品系列丰富，品种 齐全，包括火盆、火盆桌、气炉、气炉桌等各个系列，已经成为国内主要的火盆、气炉类产品的提供商 之一。 2、2024年年报：2023年公司通过亚马逊平台建立线上销售渠道并推广自有品牌，2024年进一步深化跨 境电商布局。2024年公司营业收入达2.96亿元，同比大幅增长87.22%，显示线上渠道对业绩的强劲拉 动。与此同时，公司积极拓展 Ti ...

Core Viewpoint - The company, Shenzhen SanTai E-commerce Co., Ltd., is primarily engaged in cross-border e-commerce retail and logistics, with a significant portion of its revenue derived from overseas operations, benefiting from the depreciation of the RMB [3][7]. Group 1: Company Overview - Shenzhen SanTai E-commerce Co., Ltd. was established on January 7, 2008, and listed on September 28, 2023 [7]. - The company's main business segments include cross-border e-commerce retail (76.14% of revenue) and cross-border e-commerce logistics (23.80%), with minimal contributions from technology services and other business [7]. - As of January 9, 2025, the company reported a revenue of 1.252 billion yuan, reflecting a year-on-year growth of 0.15%, while the net profit attributable to shareholders decreased by 25.94% to 31.8471 million yuan [8]. Group 2: Business Developments - The company is developing an AIGC project focused on intelligent image generation using Stable Diffusion, which allows for high-quality image creation and operational efficiency improvements [2]. - The company launched a proprietary intellectual property risk detection tool named "RuiGuan·ERiC" on September 28, 2023, aimed at providing flexible and cost-effective risk monitoring solutions for enterprises [3][2]. - The company’s overseas revenue accounted for 99.98% of total revenue in the 2024 annual report, indicating a strong reliance on international markets [3]. Group 3: Market Performance - On January 13, the company's stock price decreased by 0.43%, with a trading volume of 466 million yuan and a turnover rate of 22.39%, resulting in a total market capitalization of 7.289 billion yuan [1]. - The average trading cost of the stock is 8.92 yuan, with the current price near a support level of 9.23 yuan, suggesting potential for short-term trading opportunities [6]. - The stock has seen a net outflow of 51.34 million yuan from major investors, indicating a lack of clear trend in investor sentiment [5].

Core Viewpoint - The company, Zhejiang Kaichuang Electric Co., Ltd., is experiencing growth opportunities in the lithium battery sector, benefiting from currency depreciation and its recognition as a "specialized and innovative" enterprise, while also expanding its e-commerce business significantly. Group 1: Company Performance - In 2023, the company developed 20 new lithium battery products, gaining recognition from clients such as Bosch and Harbor Freight Tools, with current lithium product sales accounting for less than 10% of total revenue, indicating significant growth potential [2] - For the fiscal year 2024, the company reported an overseas revenue share of 91.85%, benefiting from the depreciation of the RMB [2] - The company has been recognized as a national-level "specialized and innovative" small giant enterprise, which enhances its competitiveness and stability in the supply chain [2] - The company reported a revenue of 490 million yuan for the period from January to September 2025, a decrease of 12.96% year-on-year, and a net profit attributable to shareholders of -10.46 million yuan, a decline of 119.10% year-on-year [6] Group 2: Market Activity - On January 13, the company's stock rose by 0.34%, with a trading volume of 104 million yuan and a turnover rate of 4.66%, resulting in a total market capitalization of 4.897 billion yuan [1] - The main capital flow showed a net outflow of 9.4616 million yuan, accounting for 0.09%, with the industry ranking at 148 out of 245, indicating a trend of reduced holdings by main capital over three consecutive days [3][4] - The average trading cost of the stock is 56.08 yuan, with recent accumulation activity noted, although the strength of this accumulation is weak; the stock price is currently between resistance at 52.09 yuan and support at 44.02 yuan [5] Group 3: E-commerce Development - The company began its e-commerce business in 2018, establishing cross-border e-commerce companies in Jinhua, Hangzhou, and Shenzhen, promoting its own brand of power tools and other products through platforms like Amazon [2] - In 2024, the online sales revenue increased by 58.64% year-on-year, reflecting strong growth in this segment [2]

来源：新浪证券-红岸工作室 4、根据2024年年报，公司海外营收占比为73.50%，受益于人民币贬值。 5、2023年4月7日互动易回复：公司在AI语音控制、AI智能双变频技术等方面已有布局，公司产品智能 化水平可以满足客户的需求。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 1月13日，TCL智家跌0.88%，成交额1.54亿元，换手率1.39%，总市值110.47亿元。 异动分析 跨境电商+一带一路+家用电器+人民币贬值受益+人工智能 1、2022年10月31互动易回复：公司有部分出口业务通过线上跨境电子商务平台开展，目前占比较小。 2、2023年5月9日公司互动：公司已实现连续14年中国冰箱出口量第一，公司为包含一带一路国家在内 的全球130多个国家和地区提供优质的冰箱冷柜产品。据公司官网显示，公司设有欧洲事业部以促产品 销往欧洲。 3、公司的主营业务是家用冰箱、冷柜及洗衣机的研发、生产及销售。 主力没有控盘，筹码分布非常分散，主力成交额4783.60万，占总成交额的7.24%。 技术面：筹码平均交易成本为10.55元 该股筹码平均交易成本为10.55元， ...

分红方面，华致酒行A股上市后累计派现9.74亿元。近三年，累计派现6.48亿元。 机构持仓方面，截止2025年9月30日，华致酒行十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股475.68万股，相比上期增加104.35万股。兴全合远两年持有混合A（011338）位居第八大 流通股东，持股230.13万股，为新进股东。 责任编辑：小浪快报 资料显示，华致酒行连锁管理股份有限公司位于北京市东城区白桥大街15号嘉禾国信大厦CD座5层，成 立日期2005年5月26日，上市日期2019年1月29日，公司主营业务涉及国内外精品酒水的营销和服务。主 营业务收入构成为：白酒91.97%，进口葡萄酒6.25%，其他1.11%，烈性酒0.67%。 华致酒行所属申万行业为：商贸零售-专业连锁Ⅱ-专业连锁Ⅲ。所属概念板块包括：葡萄酒、新零售、 跨境电商、小盘、融资融券等。 截至12月31日，华致酒行股东户数1.64万，较上期减少0.29%；人均流通股25342股，较上期增加 0.29%。2025年1月-9月，华致酒行实现营业收入51.64亿元，同比减少34.07%；归母净利润-1.99亿元， 同比减少218.48%。 ...

Group 1 - The core viewpoint of the news is that Intell Group's stock has shown positive performance with a 2.03% increase on January 13, reaching a price of 13.07 yuan per share, with a total market capitalization of 7.228 billion yuan [1] - As of January 13, 2023, the stock has increased by 2.51% year-to-date, 1.16% over the last five trading days, 13.75% over the last 20 days, and 15.56% over the last 60 days [1] - The company primarily engages in the wholesale and retail of pharmaceuticals and medical devices, with 93.76% of its revenue coming from pharmaceutical sales, 5.67% from medical device sales, and 0.56% from other sources [1] Group 2 - As of December 31, 2023, the number of shareholders for Intell Group increased by 5.35% to 27,000, with an average of 12,707 circulating shares per person, reflecting a 0.94% increase [2] - For the period from January to September 2025, Intell Group reported a revenue of 24.963 billion yuan, a year-on-year increase of 0.75%, while the net profit attributable to shareholders decreased by 9.15% to 323 million yuan [2] - The company has distributed a total of 5.32 billion yuan in dividends since its A-share listing, with 4.23 billion yuan distributed over the past three years [3]

Core Viewpoint - The Quanzhou Comprehensive Bonded Zone has achieved significant growth in import and export values, with a total value of 4.15 billion yuan in 2025, marking a 130% year-on-year increase, and has become a key platform for high-quality development in foreign trade and the promotion of free trade zone policies [8][11]. Group 1: Performance Metrics - The total value of bonded logistics imports and exports reached 3.78 billion yuan, up 147% year-on-year [11]. - The bonded processing sector saw an import and export value of 260 million yuan, increasing by 12% [11]. - Cross-border e-commerce bonded online shopping imports totaled 116 million yuan, a 142% increase [11]. - The bonded maintenance sector achieved an import and export value of 3.1 billion yuan, growing by 15% [11]. Group 2: Development Initiatives - The Quanzhou Comprehensive Bonded Zone has transitioned from a traditional logistics and processing model to a diversified industrial matrix, including sectors like aviation maintenance, high-end printing, and cross-border e-commerce [13]. - Key projects are being accelerated, such as the introduction of new enterprises in bonded processing, with a total planned investment of approximately 600 million yuan, expected to generate an import and export value of 500 million yuan upon reaching full capacity [16]. - The new bonded warehouse project aims to enhance service functions and is expected to achieve an import and export volume of 640 million yuan in 2025 [16]. Group 3: Strategic Focus - The zone is focusing on building a cross-border trade hub by enhancing the cross-border e-commerce regulatory center and developing a bonded cross-border logistics park [18]. - The zone aims to attract upstream and downstream enterprises in the industrial chain while promoting the transformation and upgrading of core businesses like bonded processing [18]. - The strategy includes exploring new business models such as bonded R&D to strengthen the region's open economy and enhance its role as an international cross-border trade logistics hub [18].

Core Insights - Saudi Arabia is leveraging "policy dividends, demographic dividends, and infrastructure dividends" to create a blue ocean for TikTok with a compound annual growth rate of 12.8% in the e-commerce market by 2026 [1] Group 1: Policy Dividends - The "Vision 2030" strategy positions the digital economy as a core pillar for economic diversification, implementing policies that pave the way for TikTok MCNs [3] - A regional headquarters policy mandates foreign companies to establish local entities to secure long-term government contracts, attracting investments from giants like TikTok and Amazon [3] - The Saudi Ministry of Commerce has introduced ten e-commerce development initiatives to simplify processes and lower barriers for cross-border trade, including Halal certification guidance for merchants [3] Group 2: Demographic Dividends - Over 60% of Saudi Arabia's population is under 35, with a 92% internet penetration rate and 85% of shopping done via mobile, leading to significant engagement on TikTok [3] - 71% of Saudi consumers are willing to pay a premium for "stress relief" products, with TikTok's SelfCare topic garnering 8.7 billion views [3] - The female labor participation rate has risen to 40%, with TikTok becoming a key platform for workplace fashion and maternal products [3] Group 3: Infrastructure Dividends - Saudi Arabia is enhancing its e-commerce ecosystem through digital infrastructure, providing foundational support for TikTok MCNs [5] - TikTok has partnered with AliExpress to offer a "48-hour delivery" service, significantly reducing cold chain loss rates from 30% to 8% [6] - The introduction of the Mada card has led to a 56% annual increase in e-commerce transaction volume, with TikTok's payment system boosting average order value to $127 [6] Group 4: MCN Strategies - MCNs are focusing on localization, compliance, and differentiation to succeed in the Saudi market [5] - Compliance measures include local company registration and mandatory Halal certification for food products, ensuring legal operation [6] - Differentiation strategies involve deepening engagement in vertical markets like beauty and technology, and establishing local supply chains to reduce cross-border delivery times [6] Group 5: Future Outlook - From 2025 to 2030, Saudi TikTok e-commerce is expected to experience significant growth driven by the integration of digital economy and national strategy [8] - Content upgrades such as interactive videos and AR filters are anticipated to become new growth points, with a "Creator AI Assistant" expected to launch in Q3 2025 [9] - The second-hand luxury market is projected to grow at 60% annually, driven by 62% of Saudi users willing to pay a premium for eco-friendly products [9]