近年来，强劲的本土化布局推动荣耀在东南亚市场快速增长。2024年荣耀智能手机出货量稳居市场第三，首次领跑东南亚市场。Omdia数据显示，2025年第 三季度在东南亚智能手机市场，荣耀出货量较去年同期翻倍。 荣耀方面表示，此次本地建厂是其对孟加拉国市场长期承诺的体现，也是推进全球化制造与本地化服务战略的重要一步。对于荣耀的投资及扩建计划，孟加 拉国当地政府给予高度肯定与支持，期待荣耀能够迅速成长为孟加拉国市场的领先智能终端品牌，推动本地制造业升级并扩大就业机会。（思瀚） 【环球网科技综合报道】12月5日消息，荣耀近日宣布，其在孟加拉国投建的首家现代化工厂已全面投入运营，标志荣耀正式切入当地本土化生产赛道。此 外，荣耀在孟加拉国的第120家体验店也同步落成，全国首家、也是标杆级的品牌旗舰店在首都达卡核心商圈 JFP 开业。生产端与零售端的双重突破，加速 推进荣耀全球化布局。 据了解，该工厂占地面积达5000平方米，设有3条生产线，目前整体产线具有较高自动化率，被视为当地最现代化的制造基地之一。工厂已于11月25日实现 首台设备下线，预计年产能可达100万台，目前已为本地创造超过500个就业岗位。荣耀同时制定扩建计 ...

Core Viewpoint - The company, 易点天下 (301171.SZ), is initiating preparations for an H-share listing to enhance its international financing capabilities and improve corporate governance and competitiveness, supporting its high-quality development [1] Group 1 - The board of directors has authorized the management to start the preparatory work for the H-share listing [1] - The authorization period is set for 12 months from the date of the board's approval [1] - The move is part of the company's strategy to advance its internationalization and global layout [1]

来自中东、东南亚、独联体及美洲等多个地区的客户代表对SDAC新产品表现出浓厚兴趣，对其产品品质赞不绝口。 揭秘SDAC产品的成功秘诀，"研发-供应链-服务"三位一体是其驶向全球的坚实底盘。 研发层面，其拥有全球顶级研发资源协同保障，有能力进行本地化适应性开发，针对中东高温的热管理技术，针对东南亚、美洲高盐环境的防腐工艺， 针对独联体的低温启动等，都已超越简单的产品出口。 供应链层面，潍柴新能源商用车整合法士特、汉德车桥等潍柴内部优势资源与博世、宁德时代等外部伙伴，形成了一条稳定、高效且具备技术前瞻性 的"国际顶级供应链"。 近日，在潍柴新能源商用车举办的全球合作伙伴大会上，一系列重磅信息释放出该企业加速全球化布局的强烈信号。今年以来，潍柴新能源商用车海外 市场销量实现同比增长71%，展现出强劲的发展势头。与此同时，其海外战略品牌SDAC全新产品矩阵也正式全球发布，进一步强化了其在轻型商用车领域 的竞争力。 服务网络层面，全球2000多家服务站和13000多名售后工程师打造的"营销服一体"渠道，成为赢得海外客户长期信赖的终极密码。 大会现场，SDAC品牌携多款新品亮相，涵盖N系列中高端轻卡及N18系列中卡等车型 ...

Group 1 - The "Investment Opportunities in China" roadshow successfully took place in Germany, featuring representatives from five Shenzhen-listed companies engaging with institutional investors [1] - The Shenzhen Stock Exchange (SZSE) organized a total of 11 overseas roadshows in 2025, covering over 50 Shenzhen-listed companies and reaching countries like Singapore, South Korea, Australia, and Germany [1] - The participating companies in the German roadshow represent key sectors such as renewable energy, high-end manufacturing, and healthcare, which are of significant interest to German investors [1] Group 2 - In the Sydney roadshow, six companies from the green low-carbon and high-end manufacturing sectors engaged with nearly 70 representatives from Australian investment institutions, highlighting the shift of Chinese companies from "technology followers" to "standard setters" [2] - During the Singapore roadshow, companies like Mindray Medical and Inovance Technology received positive feedback from foreign investors, who expressed high interest in the global strategies and technological advancements of Chinese firms [2] - The SZSE is actively organizing roadshows in Hong Kong to enhance understanding and trust between Shenzhen-listed companies and foreign investors, facilitating international investment in the Shenzhen market [2][3] Group 3 - The SZSE plans to continue organizing overseas roadshows and activities for foreign investors to enhance their understanding of the investment value of Chinese assets [3] - The exchange aims to improve the quality of services for connecting Shenzhen-listed companies with foreign investors, facilitating cross-border investment activities [3]

Core Viewpoint - The company emphasizes the importance of a global strategy that goes beyond merely exporting products, advocating for deeper integration into local markets and building resilient global supply chains [1][4][11]. Group 1: Global Strategy and Market Integration - The company’s chairman, Cai Hao, articulates a "go global, dig deep locally" strategy, focusing on not just exporting products but also establishing local operations and integrating into local economies [1][5]. - The company has established three overseas regional headquarters, four service centers, and 17 branches, creating an efficient service network centered around customer needs [3]. - The company has achieved significant milestones, including securing multiple GW-level project orders globally and shipping over 103 GW across more than 40 countries [3]. Group 2: Competitive Positioning - The company has risen to the second position in the global tracking bracket market as per Wood Mackenzie’s report for 2024, marking its entry into the top three globally [3]. - The company’s competitive edge is attributed to its comprehensive approach, which includes not only selling products but also building networks and establishing local production bases [4][6]. Group 3: Risk Management and Resilience - The company has implemented a dynamic market insight and risk assessment mechanism, updating its "global risk map" quarterly to monitor political trade risks, supply chain risks, and operational compliance risks [11][12]. - The company adopts a strategy of integrating local suppliers into its supply chain, enhancing resilience by not solely relying on Chinese manufacturing [12]. - The company aims to bind its interests with local economic development, thereby increasing its operational resilience against geopolitical and market fluctuations [12]. Group 4: Collaboration and Industry Ecosystem - The company collaborates with other domestic firms in the solar industry, leveraging collective strength to enhance competitiveness in international markets [8]. - The company’s role as a "chain leader" involves setting standards and improving local suppliers' capabilities, thereby fostering a competitive local supply chain ecosystem [7][8]. Group 5: Challenges and Support Needs - The company faces challenges such as high funding pressure, foreign exchange risks, and difficulties in intellectual property protection when expanding overseas [12]. - The company advocates for greater support for outbound enterprises, including long-term low-cost financing tools and flexible foreign exchange risk management products [12].

Core Viewpoint - The software industry is undergoing a transformation from "cost-driven outsourcing" to "technology-driven value output," emphasizing the importance of supply chain capabilities for global competitiveness [5][10]. Group 1: Company Strategy - Foxit Software has transitioned from a follower to a technology leader in the PDF software industry, investing heavily in international standard development [2]. - The company emphasizes the importance of building localized organizations to strengthen its global presence and adapt to regional market needs [6][10]. - Foxit Software adopts a "domestic core R&D + overseas regional branches" structure to balance compliance with local regulations and long-term growth [4][6]. Group 2: Supply Chain Capabilities - The company identifies three core capabilities for supply chain success: connectivity, control, and design [3]. - Foxit Software collaborates with upstream technology providers and downstream local partners to create a closed-loop system of "technology supply - market feedback - product iteration" [3][4]. - The company focuses on mastering key value nodes, such as format parsing and encryption, to avoid dependency on foreign technologies [3][4]. Group 3: Global Market Expansion - Foxit Software plans to expand its market reach beyond traditional regions like Europe and the U.S., targeting emerging markets with high digital transformation needs [5][10]. - The company employs a strategy of "precise selection of regions + layered advancement" to adapt its approach based on market characteristics [5][10]. - The firm aims to build a collaborative ecosystem with local partners to enhance its service network in new markets, particularly along the Belt and Road Initiative [5][10]. Group 4: Collaborative Ecosystem - The company believes in the importance of "collective overseas expansion" to mitigate risks, where leading firms set direction and platforms while supporting enterprises fill in the supply chain [8]. - Foxit Software has established a collaborative network with various partners, enhancing its software capabilities within local digital ecosystems [7][8]. Group 5: Compliance and Resilience - The company stresses the need for compliance as a prerequisite, localization as a key factor, and resilience as a guarantee for successful overseas operations [11]. - Foxit Software aims to build a technology supply chain system that avoids reliance on a single region, thereby reducing geopolitical risks [10].

Core Insights - The global cultural IP industry is entering a strategic opportunity period characterized by digital transformation, globalization, and cross-industry integration [2][12] - Cultural IP is a key driver for high-quality development in the cultural industry, showcasing China's traditional culture and enhancing national cultural soft power [2][12] - Recent policy documents, including the 14th Five-Year Plan for Cultural Development, provide strong support for the cross-industry integration and global resource allocation of the IP industry [2][12] Event Overview - The 2025 Global Cultural IP Industry Development Conference will be held on December 26-27, 2025, in Shanghai, focusing on the theme "IP Without Borders: Intelligent Creation for the Future" [3][14] - The conference aims to gather global IP resources, address industry bottlenecks, and promote innovation and ecological upgrades in the cultural sector [3][14] Conference Structure - The conference is organized by several key entities, including the Shanghai International Tourism Resort Administrative Committee and various cultural and intellectual property organizations [4][5] - It will feature a high-profile opening ceremony, thematic forums, and a grand awards ceremony to recognize exemplary IP achievements across various categories [15][16] Key Discussion Topics - The conference will cover critical areas such as policy guidance, innovation integration, industry collaboration, international cooperation, and ecological construction [7][17] - Specific topics include the application of generative AI and Web3.0 in IP creation, digital asset platform development, and strategies for cross-border copyright protection [7][17] Target Audience - The event will attract leaders from national and local government departments, industry associations, academic institutions, and representatives from investment and financial sectors [8][9]

Core Insights - The automotive industry in November showed strong sales performance across various companies, with a notable focus on electric vehicle (EV) transitions and global expansion strategies [1][2][3][4] Group 1: Traditional Domestic Brands - BYD achieved a record monthly sales of 480,000 units, maintaining the top position, with overseas sales surpassing 130,000 units, marking a historical high [1] - Geely sold 310,000 units in November, a year-on-year increase of 24%, with its Galaxy series seeing a 76% growth [1] - Chery reported sales of 273,000 units, with EV sales reaching 117,000 units, a 50.1% increase, and export sales of 137,000 units, up 30.3% [1][2] Group 2: New Energy Vehicle Performance - Changan's November sales reached 283,000 units, with EV sales at 125,000 units, a 23% increase [2] - SAIC Group set a new record for EV sales at 209,000 units, reflecting a 38.8% year-on-year growth [2] Group 3: New Forces in the Automotive Sector - Huawei's HarmonyOS Automotive division delivered 82,000 vehicles in November, a remarkable 89.61% increase, establishing itself as a leader among new entrants [3] - Leap Motor delivered over 70,000 vehicles in November, achieving a cumulative sales milestone of over 500,000 units [3] - Xiaomi's automotive division also exceeded its annual delivery target, with over 40,000 units delivered in November and a total exceeding 350,000 units [3] Group 4: Market Dynamics and Challenges - Xpeng and NIO experienced a decline in sales, with Li Auto delivering 33,181 units, a slight increase of 4.45% month-on-month but a 31.92% year-on-year drop [4] - The automotive market is shifting from subsidy-driven growth to a more competitive landscape focused on product capabilities and brand strength, as consumer behavior evolves post-subsidy [4]

Core Insights - The concept of "growth potential" has emerged as a key metric for assessing corporate value and investment potential in the current capital market focused on high-quality development [1] - The "Future 20·2025 A-share Listed Companies Growth Potential Annual Conference" held in Shanghai brought together government officials, economists, management experts, investors, and leading entrepreneurs to discuss the trends in China's economic structural transformation and the growth opportunities for small and medium-sized listed companies [1] Definition and Dimensions of Growth Potential - Different market participants have diverse understandings of corporate growth potential, but they all point to the core essence of sustained value creation [2] - Growth potential is defined as the ability to create value across economic cycles, not merely short-term performance or stock price fluctuations [2] - Three key dimensions for assessing growth potential include: 1. Resilience of the business model, which allows for sustained profitability amid economic instability [2] 2. Building core competitiveness through channel advantages, technology patents, and brand strength [2] 3. Decision-making and execution capabilities of leadership, which are crucial for transitioning from startup to industry leader [2] Investment Framework and Signals - The assessment of growth potential should be based on fundamental facts such as technological breakthroughs, market orders, and positive financial reports [2] - The importance of high R&D investment is highlighted, with private enterprises showing a significant R&D expenditure-to-revenue ratio of 9.36%, compared to the A-share average of 2.6% [3] - The ability to manage costs and entrepreneurial spirit are also critical for the growth potential of private enterprises [3] Value Transformation and Investor Engagement - Effective communication and mutual understanding between listed companies and investors are essential for transforming growth potential into investment value [4] - Investors should move beyond technical analysis and establish a multi-dimensional research logic to uncover growth value [4] - The concept of "growth is the core of all value" emphasizes the need to assess the time cycle for valuation digestion and performance explosion [4] Key Market Trends and Future Outlook - Current market focus areas include domestic substitution, technological innovation, and global expansion, which are seen as vital indicators of corporate growth potential [5] - The interplay of these three elements is expected to drive the market in the coming years, particularly in sectors like AI computing, humanoid robots, innovative pharmaceuticals, and energy storage [5] - The transition from a focus on expectations to economic recovery is anticipated to create opportunities in both technology and cyclical sectors by 2026 [6][7] - The emphasis on consumer service enterprises and traditional manufacturing firms undergoing transformation is expected to yield growth re-evaluation opportunities [7]

第二，很多企业已经把出海作为收入的增长点，以及获取利润的方式。企业利用全球的资源获得全球的技术和专利，包括管理经验、商业模式，来为自己创 造更佳的经营业绩，打造全球的商业模式。 第三，从宏观角度来讲，世界正在经历供应链的重塑。很多中国企业"走出去"，其实是帮助别的国家去做工业化。有些企业为别的国家提供商业政策、生 产、技术授权等，包括后续的衍生服务。 叶亮认为："当前外部宏观环境存在不确定性，企业正加快战略转型和全球化布局，并购成为破局的一大路径。在不确定性中，唯一的确定就是与时俱进。 未来较多中国企业会从规模增长转化为高质量增长。" 基于以往的经验，叶亮就行业发展的未来趋势做出以下四点分享： 第一，中国企业正处于从OEM向OBM转型的历史背景下。未来，中国品牌在世界各个细分市场的市占率会有明显增长。 企业要融合技术、数据和商业模式，跑出一条既服务于制造业，又能突破商业模式的发展道路。 在12月2日举行的"未来20·2025A股上市公司成长力年会"上，安永大中华区企业战略服务主管合伙人叶亮以"在不确定性中塑造未来增长蓝图"为主题发表演 讲。 第四，将来很多企业会从规模增长转化为高质量增长，中国企业开始注重品牌 ...