就在中美日内瓦经贸会谈联合声明发布后不久，大健云仓发布2025年第一季度业绩报告。 其2025年Q1营收增长8.3%达2.72亿美元。截至2025年3月31日的12个月，平台GMV同比飙升56.1%至14.2亿美元。尽管面临关税压力，公司仍保持2710万 美元净利润，活跃买家数增长81.4%至9966家，单用户年均消费14.2万美元。 图源：大健云仓 全球跨境电商B2B市场正处于结构性扩张的发展阶段，大健云仓正受益于此。商务部研究院电子商务研究所《中国跨境电商B2B出口发展报告（2025）》 显示，中国跨境电商B2B交易额将在2025年增至15万亿元。 大件家居也将随着本轮跨境电商的扩张水涨船高。从大健云仓的2024年年报和2025年一季度报中，家居新范式看到了这样的市场信号。 变痛点为竞争力，大健云仓打造供应链前置模式 先来看一下 大健云仓 发布 2024年财报中的几个关键数据： 营收达11.61亿美元，同比增长65%。 家居新范式认为，大健云仓营利双收的原因正是在于：SFR模式、GMV表现。二者息息相关。 SFR模式即供应链前置模式。供应商将商品批量运送至大健云仓的海外仓（如美国、德国等地），利用平台的全 ...

Summary of the Conference Call for Dajian Cloud Warehouse Company Overview - Dajian Cloud Warehouse (SFR) provides comprehensive logistics services including sea freight, warehousing, and land transportation for large non-standard goods such as furniture, reducing inventory risks for retailers and improving transaction efficiency [2][3][4] Core Business Model and Features - The company operates a supply chain pre-fulfillment model, connecting sellers in Asia with buyers in North America and Europe, allowing for point-to-point logistics services [3][4] - The model is particularly suited for industries with dispersed upstream and downstream players and a rich variety of SKUs, minimizing inventory risks for retailers [5] Market Presence and Growth - The majority of the company's business (70%) is concentrated in the U.S. market, with rapid growth in Europe (20% market share, approximately 150% year-on-year growth) [2][10] - Overall business is expected to grow by about 65% in 2024, including contributions from acquisitions Noble House and Wonderful [2][10] Acquisitions and Integration - After acquiring Noble House, the company focuses on updating old SKUs and restarting R&D to maintain supply relationships with key partners, transitioning products to its own platforms [2][13][14] - Noble House, previously in bankruptcy, has reached breakeven after the acquisition, with plans to enhance product offerings [13][14] - Wonderful, acquired for its in-store display solutions, is also at breakeven and shows potential for future growth [15] Impact of Tariffs and Shipping Costs - The company faces manageable impacts from rising tariffs (currently at 40%), as furniture has low net value density, meaning production costs are high and tariffs are based on these costs [16] - Fluctuations in shipping costs have a more significant impact, with recent increases in sea freight from $2,000 to $8,000 affecting profitability [16][28] Competitive Landscape - Dajian Cloud Warehouse maintains a cooperative relationship with major e-commerce platforms like Amazon, providing logistics and supply services [17][18] - The company does not have direct competitors with the same business model but faces competition from platforms like very.com and logistics companies like UPS [19] Logistics and Warehousing Strategy - The company offers a nationwide flat-rate pricing service for land transportation in the U.S., simplifying cost calculations for e-commerce operators [6][7] - Warehouse utilization is currently around 80%, with strategies in place to lease excess space to partners and adjust capacity based on demand [26][30] Future Outlook - The U.S. furniture market is expected to experience low growth in 2025 due to previous demand surges during the pandemic, while Europe is projected to grow rapidly from a smaller base [24] - The company is well-positioned to adapt to market changes and maintain strong relationships with partners, supporting its growth trajectory [30] Additional Insights - The company emphasizes the importance of maintaining diverse platforms and channels to enhance operational advantages in a complex market environment [25] - The logistics service quality and pricing are critical factors influencing buyer decisions, highlighting the need for efficient inventory management [20]