Group 1: Core Insights - The rise of trade protectionism is leading to significant changes in cross-border e-commerce, with small parcel tax exemptions facing unprecedented challenges [1][2] - Major economies are coordinating to tighten tax incentives for cross-border e-commerce, reflecting a global trend towards stricter regulations [2][3] Group 2: Tax Policy Adjustments - The EU has announced a uniform fee of 2 euros for small parcels entering the EU, marking a fundamental shift from the previous exemption policy for parcels under 150 euros [1] - The U.S. will officially eliminate the tax exemption for parcels valued under 800 dollars by May 2025, which has been a crucial driver for cross-border e-commerce [1] - Japan is considering a 10% consumption tax on low-cost imports valued at 10,000 yen or less, with implementation planned for 2026 or later [2] Group 3: Underlying Reasons for Policy Changes - Data shows a dramatic increase in low-cost imports, with Japan reporting 169.66 million items valued at 425.8 billion yen, five times the volume from five years ago [3] - The EU is facing challenges with 4.6 billion parcels under 150 euros expected in 2024, 90% of which are from China, leading to increased customs pressure [3] - In the UK, over 95% of 100 million overseas small parcels were not subject to safety inspections, raising concerns about tax evasion and safety risks [3] Group 4: Domestic Pressures Driving Policy Changes - Major UK retailers are criticizing tax exemptions for fostering unfair competition from overseas platforms [6] - Governments are grappling with tax revenue losses and regulatory challenges due to the influx of small parcels, which also raises security concerns [6] - There is resistance from consumers and small businesses regarding the potential increase in operational costs and consumer prices due to the removal of tax exemptions [6] Group 5: Impact on Cross-Border E-Commerce - The policy changes will fundamentally alter the cost structure for cross-border e-commerce sellers, particularly those relying on low-margin sales [7] - In the EU, the new 2-euro fee per parcel could eliminate profits for sellers dependent on thin margins, especially with the potential removal of the 150-euro tax exemption [7] - The introduction of a 10% consumption tax in Japan, along with new compliance obligations, will significantly increase operational costs for small sellers [7] - The U.S. policy change will require many previously exempt items to pay tariffs, impacting pricing strategies for sellers [7][9]

久祺股份有限公司投资者关系活动记录表 | 投资者关系活动 | √特定对象调研□分析师会议 | | --- | --- | | 类别 | □媒体采访□业绩说明会 | | | □新闻发布会□路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 参与单位名称及 | 详见附件 | | 人员姓名 | | | 时间 | 年 月 日（星期四） 2025 5 22 | | 地点 | 杭州城中香格里拉酒店 | | 上市公司接待人 | 1、董事会秘书兼财务总监雍嬿 | | 员姓名 | 2、证券代表 陆佳骐 | | | 1、公司目前 E-BIKE 销售占比是多少，未来 E-bike 前景如 何？ | | | 答：根据公司披露的 2024 年年度报告数据，E-BIKE 产品占 | | | 公司整体营业收入的比例大概为 10%。 | | | 目前来看 E-BIKE 产品未来市场空间呈现积极发展趋势。公 | | | 司开发智能控制系统及与高校合作研发，以提升竞争力。从行业 | | 投资者关系活动 | 趋势看，全球环保政策及绿色出行理念的普及加速了 E-BIKE 对 | | 主要内容介绍 | 传统交通勤自 ...

21世纪经济报道记者周妙妙深圳报道 备货、包装、排柜、检查、装柜……这是最近一周，深圳一家货代公司"爆仓"的日常场景。 集装箱里装的可能是此前受所谓"对等关税"影响而积压的货物、外贸公司收到的美国新订单、跨境电商 卖家的又一次补货等。 一周之后，他的店铺经营又回到了正轨，但跨境电商行业已有新变化。 "5月，全托管商品全部下架，流量反而集中到我们半托商家身上了。海外仓里两个月的货两个星期就搞 （完）了。"章生的店铺主营家居百货、日用百货等类目，他直言店铺受到的影响有限。 在"枕头"来之前，他已做好充分的应对方案，例如，在T86政策取消前从全托管模式转为了半托管模 式，并提前将两个月的备货发往海外仓。 半托管模式下，他要需要完成仓库管理、发货履约、维护库存、末端配送等全流程的物流服务，将海外 仓的库存商品上架Temu销售。 4月29日，他在朋友圈分享了一张达成"明星卖家"成就的截图。 截图显示，"明星卖家"是指卖家在过去30天内在其经营的主要产品类别中名列前茅。卖家排名综合考虑 了多种因素，包括当前购物所在国家/地区网站的销售和评论评分。根据这些标准，排名前5%的卖家会 显示"明星卖家"标签。 Temu全托管模式 ...

短线治理风险还是比较大的，这个时候容错率也好，盈亏比也好都比较低。换句话说，可能你做对几个 赚几个点，做错了就可能要亏十几个点。所以现在最好的策略就是耐心慢慢等待亏钱效应，过去之后又 可以开始积极试错，开始新一轮的周期了。还有个消息根据三方平台统计，今年4月量化类的私募证券 投资基金新备案数量有545只，占到当月备案产量的总量的46.58%。其中股票策略量化私募产品新贝尔 数量达到380只，占比高达69.7%。什么意思？也就是说量化基金越来越多了，那么以后这种情况会越 发越大吗？会越来越影响到我们大a的一个交易规则吗？其实从目前格局来看，目前主流股票的生态， 我们可以把它分为两种，一种是游资股，里面包括了量化，游资、抖音、散户、个别公墓、私募擅长题 材题材类的私募上市公司股东，对吧？这么一算有7个人，他们在这个生态内互相的砍杀，还有一类就 是机构股，机构里面有什么呢外资私募基金，价值派的公募，包括险资散户、上市公司股东，国家队差 不多也是七八个。所以以上这两个公式你们反复细读就会不难发现，量化其实不是万能的，它只是存在 消息面上的话，外交部回应近期欧盟以安全监管为由，实则可能针对中国跨境电商的快速增长平台，对 ...

中新社拉萨5月22日电(记者江飞波)"西藏现在的道路条件很好，我们出口的苹果从林芝装车，24小时左 右就可以到达日喀则吉隆口岸，加上海关通关便利化政策，48小时左右可以到达尼泊尔首都加德满 都。"西藏一出口商负责人李隆景近日接受中新社记者采访时说，西藏面向南亚出口市场前景广阔。 提升基础设施建设，打造跨境电商产业集聚平台……近年来，西藏自治区立足"面向南亚开放重要通 道"区位优势，加速融入西部陆海新通道建设。 拉萨海关公布，今年一季度，日喀则市各口岸进出口货物5.43万吨，占西藏全区95%，为充分发挥"面 向南亚开放重要通道"区位优势，推动日喀则国际陆地港成为国内国际双向辐射的国际班列运营中心， 海关部门通过"一次申报、口岸直通"的高效通关机制，降低企业物流成本和口岸查验压力，提升班列运 行效能和通关效率，为区域贸易便利化提供有力支持。 此外，"国内集货+拉萨中转+海外仓直通"的三级物流网络也有助于提高物流时效、降低货物损耗。基 于该物流网络，本月上旬正式揭牌运营的拉萨南亚跨境电商产业园，其尼泊尔海外仓配送时效由传统海 运的60天缩至20天。该产业园未来将重点发展面向南亚国家的跨境电商业务。(完) （文章来源 ...

Core Viewpoint - Despite fluctuations in U.S. tariff policies, consumer demand remains strong, with companies continuing to receive orders and maintain production levels [1][2][3]. Group 1: Consumer Demand - U.S. consumer demand is stable, with companies like Shanghai Weida continuing to receive orders despite tariff changes, indicating a strong market need [1][3]. - The RV market in the U.S. has approximately 10 million units, suggesting a persistent consumer base despite potential market fluctuations [3]. - Many Chinese sellers report ongoing demand from U.S. customers, with some companies actively preparing for upcoming sales seasons by increasing production and stock [4][5]. Group 2: Supply Chain Dynamics - Chinese suppliers maintain a unique advantage in the global supply chain, making it difficult for U.S. small and medium enterprises to find alternative suppliers [5][6]. - The recent tariff adjustments have led to increased urgency among U.S. customers to stock up on inventory, with many companies reporting significant order volumes [5][6]. - The logistics sector is responding to increased demand, with companies like Cainiao International Express reporting a surge in cross-border package volumes to North America and Latin America [6][7]. Group 3: Market Trends - The U.S. market remains a key battleground for cross-border e-commerce, with emerging markets like Latin America showing strong growth potential [7]. - Amazon's CEO noted an increase in purchasing in certain categories, indicating that consumers are preemptively stocking up in response to potential tariff impacts [7][8]. - Consumer confidence in the U.S. has shown signs of recovery following recent tariff policy changes, although some sellers are considering price increases for certain products [8].

Group 1: Event Overview - The Fourth China-Central and Eastern European Countries Expo and International Consumer Goods Expo opened in Ningbo, Zhejiang on May 22, focusing on economic cooperation, technological innovation, and cultural exchange [1][9] - The expo featured over 400 exhibitors and more than 8,000 types of Central and Eastern European specialty products, expanding participation from 14 Central and Eastern European countries to include 9 additional countries [3] Group 2: Business Opportunities - A procurement signing event resulted in 24 projects with a total value of 2.49 billion yuan, covering various categories such as mineral procurement, pet health products, skiing equipment, juice, and alcoholic beverages [1] - Companies like Livestocker from Hungary and 24alife from Slovenia showcased digital solutions for agriculture and health monitoring, respectively, indicating a strong interest in the Chinese market's potential for digitalization and health services [5][6] Group 3: Market Potential - The expo is expected to attract over 15,000 professional visitors, with more than 3,000 foreign buyers from 72 countries and regions, aiming to achieve import procurement intentions exceeding 10 billion yuan from Central and Eastern Europe [9] - Ningbo's local enterprises, such as Ningbo Ruyi Co., are leveraging the expo to expand their customer base, as exports to Central and Eastern European countries account for approximately 20% to 30% of their business [8] Group 4: Government Support - Chinese officials emphasized the commitment to multilateralism and the expansion of imports from Central and Eastern European countries, aiming to enhance bilateral trade and cooperation in high-quality initiatives like the Belt and Road [9] - Ningbo aims to create a favorable business environment to facilitate trade and investment, focusing on emerging sectors such as artificial intelligence and renewable energy [8]

"洋面孔"接踵而至、多国语言的洽谈声此起彼伏、各色展品琳琅满目…… 5月22日，第四届中国—中东欧国家博览会暨国际消费品博览会在浙江宁波开幕。作为我国唯一面向中东欧国 家的国家级机制性展会，本届博览会以"向新 向实 向未来"为主题，聚焦经贸合作、科技创新与人文交流。记 者实探本届博览会发现，在各国参展商的眼中，中国市场的活力与潜力仍无可限量。 当天，中东欧商品采购签约活动举行，全国各地以及中东欧各国的60余家企业参加。本次活动共签署项目24 个，订单涵盖矿产采购、宠物健康产品、滑雪器材、果汁、酒类等品类，签约项目总额达24.9亿元，其中现场 签约项目10个。 中东欧展区展览面积2万平方米，400多家展商、8000多种中东欧特色商品在此亮相。来自中东欧14国和英国、 法国、德国、西班牙、意大利等其他9个国家的435家企业参展，实现了从中东欧向"中东欧+"的拓展。 中东欧商家看好中国市场活力与潜力 "早在2021年中国制造网国际站宁波直采大会上，我就找到了长期合作的优质中国供应商，助我成功开拓了西 非市场。"他表示，"这次，我要把新产品、新供应商带到撒哈拉以南地区。" 打造中东欧商品进入中国的"黄金通道" 不少中 ...

6个行业主力资金净流入。 据证券时报·数据宝统计，今日（5月22日）沪深两市主力资金净流出252.63亿元，其中创业板净流出 104.21亿元，沪深300成份股净流出31.82亿元。 从个股来看，29股主力资金净流入超1亿元，其中10股净流入超2亿元。 AI应用热股昆仑万维（维权）（300418）主力资金净流入金额近13亿元，净流入额创2023年6月16日以 来新高。该股今日"20cm"涨停，龙虎榜数据显示，上榜营业部席位全天成交8.72亿元，占当日总成交金 额比例为16.21%，合计净买入3.39亿元。 跨境电商热股青岛金王（002094）盘中涨停，主力资金净流入4.55亿元。 行业板块方面，申万一级行业中，仅银行、传媒和家用电器行业上涨，涨幅分别为1%、0.12%、 0.04%。28个下跌行业中，美容护理行业跌幅居首，为2.03%；社会服务、基础化工、环保、房地产和 电力设备等行业跌幅均超1%。 从资金流向来看，申万一级行业中，6个行业获主力资金净流入。传媒行业主力资金净流入居首，达 13.87亿元；国防军工、轻工制造、美容护理行业主力资金净流入金额分别为9.43亿元、5.83亿元、2.7亿 元。 25个 ...

同时，他表示，美国客户也很难找到替代方案。一是因为公司在行业深耕15年，在国内和海外都有很多 专利。二是美国本土制造商的大部分零件来源于中国供应商，丁林锋也有很多面向企业的客户。三是美 国的制造成本过高，客户计算过叠加高关税后，中国产品的价格仍仅为美国本土产品价格的三分之一。 不少中国卖家有同感。"美国消费需求一直存在，很多跨境商家会针对美国市场开发产品，消费者对中 国产品和供应链的依赖也很强。"国内某智能设备品牌负责人Jimmy表示，关税下调后工厂正在努力生 产、接单、发货，一方面是消化过去一段时间的消费需求，另一方面为年中大促以及之后的旺季做准 备。物流方面，公司通过跨境小包将新品、测试品以及零件、配件等送往海外消费者，成熟和销量稳定 的产品则备货海外仓，近期也通过空运、海运等形式积极发货和补货。 有卖家表示，部分着急的美国客户要求部分货物直接走空运。 "有个客户在4月12日下了10万美元的订单，近期他又追加了20万美元的订单。"上海威迩达遮阳设备有 限公司总经理丁林锋日前对第一财经表示，过去一个月美国关税政策虽然起伏较大，但市场整体需求一 直存在。4月至今，他的工厂持续生产商品，近期因为客户的追加订单更 ...