｜2026年2月3日星期二｜ NO.1 绿联科技递表港交所 据港交所2月2日消息，绿联科技（SZ301606）已向港交所主板递交上市申请，华泰国际为其独家保荐人。招股 书显示，绿联科技是一家科技消费电子品牌企业，依托充电创意产品、智能办公产品、智能影音产品和智能存储 产品四大产品类别，全方位覆盖家庭、出行、办公、娱乐等各类日常应用场景。根据弗若斯特沙利文的资料，于 2025年，按出货量计，公司在泛拓展类科技消费电子产品市场位居全球第一。 点评：绿联科技赴港递表是其推进"A+H"资本布局的关键一步，此举契合消费电子出海趋势，也为其拓宽融资渠 道、提升国际品牌影响力筑牢资本基础。 NO.2 京东旗下欧洲线上零售平台Joybuy将于3月正式上线 据《科创板日报》2月2日报道，京东集团-SW（HK09618）旗下欧洲线上零售业务Joybuy将于今年3月正式上 线。据悉，试运营期间，依托于京东的供应链和物流能力，Joybuy已在英国多个城市实现当日和次日达。 点评：京东Joybuy以供应链物流优势实现英区极速配送，依托仓配基建的高效履约能力，为中国电商出海欧洲提 供了新范式。 NO.5 港股行情： | 指数名称 | 最 ...

Core Viewpoint - The article discusses the challenges and strategies of Chinese e-commerce companies, particularly Temu and SHEIN, as they expand into the Japanese market, highlighting the differences in consumer behavior and marketing strategies between China and Japan [4][72]. Group 1: Market Conditions - Japan has favorable conditions for e-commerce, including strong payment capabilities, good logistics infrastructure, high internet penetration, and stable demand for clothing, beauty, and daily goods [5][4]. - Despite the strong offline retail presence, there is a solid foundation for e-commerce, with many older consumers having experience with online shopping [5]. Group 2: Company Strategies - Temu, launched in 2022, has rapidly gained traction in Japan, achieving 15.5 million monthly active users by July 2023, largely due to aggressive advertising spending of approximately $2 billion by its parent company, Pinduoduo [12][4]. - SHEIN entered the Japanese market earlier and has become a well-known fast fashion brand, ranking in the top 5 for shopping app downloads on Google Play [13][4]. - Temu's strategy in Japan focuses on low-price subsidies and gamification elements, such as time-limited offers and lotteries, diverging from Pinduoduo's original social group-buying model [24][25]. Group 3: Consumer Behavior - Japanese consumers exhibit a preference for stability and safety in shopping, often conducting extensive research before making purchases, contrasting with the impulsive buying behavior seen in Chinese consumers [57][52]. - The Japanese market is characterized by a high loyalty to brands and a preference for PC-based shopping, with over 50% of e-commerce transactions occurring on desktop computers [53][56]. Group 4: Marketing Techniques - Temu and SHEIN utilize gamification to engage users, employing tactics like limited-time promotions and interactive elements to enhance user experience [30][36]. - Japanese e-commerce typically does not incorporate gamification or urgency in marketing, focusing instead on loyalty programs and straightforward pricing strategies [32][31]. Group 5: Competitive Landscape - The competitive landscape in Japan is challenging for foreign e-commerce players, as local companies have established strong brand loyalty and consumer trust [72][62]. - Temu and SHEIN must navigate cultural differences and consumer expectations, adapting their strategies to align with Japanese shopping habits and preferences [72][74].