在全球贸易格局加速重构的今天，品牌出海如何突破增长瓶颈？如何实现品牌出海国际化布局？6月6日，由慧聪供应链、深圳市展示道具行业协会、SHOP! 国际零售协会•亚太合作组织、慧聪商业展示网联合主办，盐田国际、万里鹏集团、深圳跨境电子商务协会协办的"品牌出海 链动全球"交流活动在深圳盐田 成功举办。来自上海、广州、中山、东莞、香港及深圳的商业展示道具行业企业董事长、总经理齐聚一堂分享海外实地考察经验，共同探讨品牌出海全球化 发展新机遇。 主持人邹红振开场、慧聪供应链李艳娟介绍公司、慧聪供应链负责人致辞 深圳展示道具行业协会骆诗学会长致辞 行业领袖与权威专家分享品牌出海全球化战略 本次活动特邀行业领袖为参会企业带来前沿洞察与实战策略，SHOP!国际零售协会•亚太合作组织主席罗以勒先生（Berman），为大家分享了实地考察美 国、墨西哥等美洲地区商业展示道具厂及在交流学习过程的所见所闻，从贸易政策、产品差异化、工厂管理及品牌出海注意事项等进行了实战分享， Berman以国际视野分享的零售品牌全球化实战经验让到场企业家收获满满。 本次活动特邀的跨境供应链权威专家：胜道乐知咨询总裁、深圳跨境协会执行副会长谢卓亨先生分享了 ...

Core Insights - The Middle East, particularly the GCC countries, is becoming an increasingly attractive market for international brands due to its diverse culture and growing consumer market, with an expected annual growth rate of 4.39% in the food market from 2024 to 2028, reaching a market revenue of $135.5 billion in 2023 [1][2] Group 1: Market Overview - The largest segment in the Middle East food market is expected to be confectionery and snacks, projected to reach $23.1 billion [2] - The retail market in the region is rapidly evolving, characterized by large supermarket chains and convenience stores, highlighting unique channel advantages [2] Group 2: Consumer Demographics - Saudi Arabia has a population of over 30 million, with a significant portion of consumers being young, with an average age of 24-25 years, indicating a vibrant market that adapts well to new trends [4][7] - Approximately 70%-75% of consumers are under the age of 26, showcasing the potential for innovative products and services [7] Group 3: Localization Strategies - International brands entering the Saudi market must ensure compliance with local regulations, including obtaining halal certifications and meeting FDA food safety standards [8] - Local partnerships are crucial for understanding local laws and consumer preferences, as shopping behaviors vary significantly across different regions of Saudi Arabia [8][9] Group 4: E-commerce and Supply Chain - E-commerce is rapidly developing, with companies relying heavily on supply chain management to ensure timely delivery and product diversity [11][12] - Investments in distribution networks and cold chain logistics are essential to maintain product freshness, especially in the region's high temperatures [13][36] Group 5: Market Entry Strategies - Testing products in limited quantities through pilot programs in select stores can help gauge market acceptance before scaling up [18][19] - A dual approach of utilizing both online and offline channels is recommended, as consumers increasingly prefer to experience products in-store before purchasing online [22][33] Group 6: Future Market Potential - The market for functional beverages and health products is still emerging but is expected to grow, with energy drinks currently holding a 2% market share [35] - Cultural trends and social media influence can accelerate the adoption of new products, indicating a need for brands to adapt their marketing strategies accordingly [35][36]

Group 1 - Labubu has become the top search term on Alibaba's AliExpress platform ahead of the overseas 618 shopping festival, indicating its rising popularity among international consumers [2][4] - The brand's unique "quirky cute" design and blind box concept have contributed to its rapid ascent as a global trendsetter, with significant consumer interest from markets such as the UK, Australia, and Brazil [5] - The overall GMV for the toy category on AliExpress has seen a remarkable 300% year-on-year growth, driven by the success of Labubu and other Chinese toy brands [5] Group 2 - AliExpress has established itself as a core platform for Chinese brands to expand internationally, with various high-quality toy brands and tech companies choosing to enter the overseas market through this platform [5] - The platform's mature market layout, robust logistics infrastructure, and localized marketing resources are key factors that assist brands in overcoming the challenges of international expansion [5] - AliExpress has launched the "BigSave" brand export plan, aiming to support 1,000 new brands in achieving a breakthrough of one million dollars in sales this year [5]

上海西井科技股份有限公司董事长谭黎敏在第二届长三角国际品牌创新发展大会暨2025长三角人工智能 品牌高端峰会期间表示，中国企业出海经历了从传统贸易产品到海外投资、资本出海的三个阶段，未来 将转向品牌出海，依靠战略引领、行业生态构建、知识产权先行、全球化的组织和服务，做强品牌、重 塑出海竞争力。西井科技通过技术标准和行业生态的结合，实现了从产品出海到模式出海的跨越，为全 球物流行业带来了新的变革。公司的业务已覆盖全球28个国家，正采用"数智"敏捷模式，实现品牌出 海。谭黎敏认为，企业成功出海，离不开三个方面：持续锻强"产品力"，不断推进"属地化"管理，用AI 拥抱ESG。(上海证券报) ...

Core Insights - Haitian Flavor Industry's products have won the 2025 "Top Taste Medal" awarded by the International Flavor Evaluation Institute, highlighting the company's strong capabilities in seasoning product development and production [1][5][8] Product Recognition - Four products from Haitian, including low-salt fish sauce, shrimp head extract, low-salt soybean sauce, and low-salt oyster sauce, received the prestigious award, which is considered the "Oscar" of the global food industry [1][5] Evaluation Process - The evaluation panel consists of over 200 experts from more than 20 countries, including Michelin chefs and international tasting experts, ensuring a rigorous and objective selection process with a blind tasting elimination rate exceeding 70% [5] Quality and Innovation - Haitian's success in winning the award is attributed to its outstanding performance in taste, flavor, production techniques, and innovation, utilizing high-quality raw materials and integrating modern technology with traditional brewing methods [5][6] Health Trends - The company has focused on developing health-oriented products for decades, launching a range of options that include organic, low-sugar, low-salt, and low-fat products, achieving a comprehensive coverage of nutritional health product lines [6] Salt Reduction Technology - Haitian has innovated a "reduce salt without sacrificing flavor" approach, successfully lowering salt content by over 25% in its award-winning products without compromising taste [6] Brand Expansion - The award enhances Haitian's brand reputation globally and supports its international expansion, especially after the successful certification of its factory as the world's first "Lighthouse Factory" for soy sauce production [8] Internationalization - Following its recent approval from the Hong Kong Stock Exchange, Haitian is set to embark on an international journey, transitioning from a national brand to a world-class food enterprise [8]

Group 1 - The Hong Kong stock market indices opened higher, with the Hang Seng Index rising by 0.74%, the Hang Seng China Enterprises Index increasing by 0.78%, and the Hang Seng Tech Index up by 0.97% [1] - The "Hong Kong Consumer F4" stocks, including Pop Mart, Mao Geping, Mixue Group, and Laopu Gold, reached new highs yesterday but experienced a slight pullback today [1] - The consumer sector's recent surge is driven by a combination of policy support and "self-indulgent consumption," along with the holiday effect, indicating a shift from quantity to quality in consumption [1] Group 2 - The Hong Kong Consumer ETF (513230) tracks the CSI Hong Kong Stock Connect Consumer Theme Index, which covers a balanced range of industries, unlike A-share consumption investments that focus primarily on liquor [2] - The consumer sector in Hong Kong has a higher proportion of new consumption types, including e-commerce, dining, tourism, and cultural media, reflecting the recovery in consumer sentiment driven by strong consumption policies [2] - Pacific Securities is optimistic about the opportunities for brands to expand overseas, particularly in Southeast Asia, where consumer demand remains unmet and local manufacturing capabilities are relatively weak [1][2]

Core Viewpoint - The signing of the "China-US Geneva Economic and Trade Talks Joint Statement" has not alleviated foreign trade manufacturers' concerns about their products' circulation in overseas markets. Companies like Aishida are increasingly investing overseas to mitigate potential adverse impacts from changing international trade dynamics [1][2]. Group 1: Company Strategy - Aishida plans to establish a subsidiary in Vietnam to invest in cookware, small appliances, and industrial robots, with a budget not exceeding 150 million yuan [2]. - The overseas investment aligns with Aishida's long-term strategic plan to enhance its global presence and respond flexibly to global macroeconomic fluctuations and changes in international trade patterns [2][4]. - Aishida's foreign sales revenue is projected to reach 45.8% by 2024, indicating a significant reliance on international markets [4]. Group 2: Market Conditions - The domestic market is experiencing insufficient growth momentum, prompting companies to seek expansion in overseas markets [5][6]. - The cookware market is facing challenges, with offline retail sales declining by 17.3% year-on-year in Q1 2025, while online sales increased by 10% [5]. - Aishida's internal sales revenue is expected to grow by only 5.8% in 2024, while foreign sales are projected to increase by 39.79% [6]. Group 3: Competitive Landscape - Aishida competes in the international market by producing for well-known brands and also selling its own brand products, although the profit margins for overseas sales are lower compared to domestic sales [7]. - The gross profit margin for domestic sales is 34.85%, while for foreign sales, it is only 24.01% in 2024 [7]. - The company has faced challenges in maintaining profitability, with a decline in revenue and net profit in the first quarter of the current year [7].

Summary of Conference Call Records Company Overview - The company discussed its overseas expansion strategy, primarily focusing on Southeast Asia, with Indonesia, Malaysia, and Thailand being the top three markets for store openings [1][5]. Key Points and Arguments Market Potential and Challenges - Indonesia is identified as having significant market potential, while Vietnam presents a complex business environment with low consumer brand loyalty, making it one of the most challenging markets in Southeast Asia [1][5]. - The company has adjusted its product offerings based on consumer preferences in different Southeast Asian countries, such as high sugar preferences in Indonesia and health-conscious choices in Vietnam [1][9]. Financial Metrics - The gross margin for overseas single-store models is approximately 45%, with raw material costs accounting for 55% and labor costs being relatively low, around 16% of revenue [1][19]. - The actual net profit margin for stores in Southeast Asia ranges from 25% to 30%, with minimal VAT or consumption tax obligations [1][20]. Expansion Strategy - The company plans to open 1,000 to 1,500 new stores overseas in 2025, with a focus on Malaysia and Thailand, each expected to add around 400 stores [18]. - The long-term goal is to establish 20,000 overseas stores by 2028, with a significant push starting in 2026 [43]. Consumer Behavior Insights - Consumer loyalty varies significantly across Southeast Asian countries, with Vietnamese consumers showing lower brand loyalty and a tendency to follow trends [6][7]. - Different countries require tailored marketing strategies, such as higher sugar content in Indonesia and health-focused products in Vietnam [9][10]. Competitive Landscape - The company holds the leading position in the tea beverage industry in Indonesia, Vietnam, Malaysia, and Thailand, with local brands like Toco Toco in Vietnam and various coffee chains posing competition at different price points [31][23]. - Local brands benefit from established consumer bases and often provide superior in-store experiences, making competition challenging for Chinese tea brands [24][25]. Operational Challenges - The company has faced issues with rapid expansion, particularly in customer and store location audits, leading to a closure rate of about 1.6% due to poor site selection [12][14]. - Adjustments have been made to the franchisee selection process, focusing on operators who can actively manage stores rather than just financially capable individuals [13]. Supply Chain and Production - The company emphasizes the importance of a strong supply chain for successful international expansion, utilizing domestic super factories and establishing local warehouses in Southeast Asia to reduce costs and improve efficiency [25][26]. - Plans are in place to establish raw material factories in Vietnam and the Philippines by 2028, which will enhance supply chain capabilities across the region [27]. Future Outlook - The company aims to penetrate new markets in Central Asia, South Asia, South America, and North America, with a gradual expansion strategy expected to take 2 to 3 years for each new market [36]. - The domestic market remains a priority, with approximately 40,000 stores currently and plans to expand into rural areas and unique flagship locations [38][42]. Additional Important Insights - The average daily sales per store vary by market, with Vietnam averaging around 2,300 RMB per day, while Malaysia performs better with higher sales volumes [10]. - The company has successfully relocated underperforming stores, significantly increasing their sales post-move [35]. - The labor cost advantage in Vietnam is notable, with the company paying significantly lower wages compared to local textile or shoe factory workers [32]. This comprehensive overview captures the essential insights from the conference call, highlighting the company's strategic focus, market dynamics, financial performance, and operational challenges in its overseas expansion efforts.

Investment Rating - The investment rating for the company is "Outperform" (maintained) [2] Core Views - The company is experiencing rapid growth in the health and wellness kitchen appliance sector and is actively expanding its e-commerce business [2] - In 2024, the company achieved a revenue of 480 million yuan, representing a year-on-year growth of 14.77%, while the net profit attributable to the parent company was 35.42 million yuan, a decline of 3.12% [4] - The company anticipates a recovery in overseas demand, which is expected to drive performance potential, maintaining a positive outlook for the years 2025 to 2027 [4] Financial Performance Summary - In 2024, the company reported a revenue of 480 million yuan, with a year-on-year increase of 14.77% and a net profit of 35.42 million yuan, down 3.12% [4] - For Q1 2025, the company achieved a revenue of 102 million yuan, a year-on-year growth of 3.66%, and a net profit of 7.33 million yuan, up 3.40% [4] - The company projects net profits for 2025, 2026, and 2027 to be 41 million yuan, 49 million yuan, and 54 million yuan respectively, with corresponding EPS of 0.46, 0.55, and 0.61 yuan per share [4][8] Industry Insights - The kitchen small appliance industry is showing a bifurcated growth pattern, with low-end market competition intensifying while mid-to-high-end segments present significant growth opportunities [5] - Health-oriented products are rapidly growing due to increasing health awareness, while traditional essential categories are stabilizing [5] - The company’s main product, rice cookers, generated revenue of 370 million yuan, reflecting a year-on-year growth of 12.67% [5] Strategic Initiatives - The company is committed to developing its own brand, increasing market expansion efforts, and continuously innovating through technology upgrades [6] - In 2024, the company’s sales expenses increased by 14.38% to 14.02 million yuan, reflecting its aggressive e-commerce expansion strategy [6] - The company holds 175 patents, with 27 patents in the application stage, including 9 invention patents that have entered the review stage, reinforcing its foundation for sustainable development [6]

Investment Rating - The investment rating for the company is "Outperform" (maintained) [2] Core Views - The company is experiencing rapid growth in the health and wellness kitchen appliance sector and is actively expanding its e-commerce business [2][4] - In 2024, the company achieved a revenue of 480 million yuan, representing a year-on-year growth of 14.77%, while the net profit attributable to the parent company was 35.42 million yuan, a decline of 3.12% [4] - The company anticipates a recovery in overseas demand, which is expected to drive performance potential, maintaining a positive outlook for the years 2025-2027 [4] Financial Performance Summary - In 2024, the company reported a revenue of 480 million yuan, with a year-on-year increase of 14.77% and a net profit of 35.42 million yuan, down 3.12% [4][8] - For Q1 2025, the company achieved a revenue of 102 million yuan, a year-on-year growth of 3.66%, and a net profit of 7.33 million yuan, up 3.40% [4] - The company projects net profits for 2025, 2026, and 2027 to be 41 million yuan, 49 million yuan, and 54 million yuan respectively, with corresponding EPS of 0.46, 0.55, and 0.61 yuan per share [4][8] Industry Insights - The kitchen appliance industry is showing a bifurcated growth pattern, with low-end market competition intensifying while mid-to-high-end segments present significant growth opportunities [5] - Health-oriented products are rapidly growing due to increasing health awareness, while traditional essential categories are stabilizing [5] - The company’s main product, rice cookers, generated revenue of 370 million yuan, reflecting a year-on-year growth of 12.67% [5][6] Strategic Initiatives - The company is focused on developing its own brand, enhancing market expansion efforts, and continuously innovating through technology upgrades [6] - In 2024, the company invested 17.07 million yuan in R&D, a year-on-year increase of 17.65%, and holds 175 patents, with 27 patents in the application stage [6][8]