告别经验主义： 在人类算力的极限之外，重建供应链秩序。 在某个普通的早上，南宁某仓的调度大屏跳出来自八个区域仓的300多条配送请求—— 有医院的急救类补货、夜间药店的销量回补、B2B渠道的大批量集采订单，以及由季节性疾病高发触发的突发需求，也有必须关乎生命的、要在两小时送 达ICU的药品需求，每一条请求背后都对应着不同的时效要求、药品合规要求和路线约束。 另一边，仓内的拣货员已经开始处理医院端的大单：一个订单可能包含80种以上的品规，既有高价值药，也有一旦超温就要整批报废的冷链品类。这些药 必须从不同区域的货架拣取，经过核对批次、效期、规格，再以合规方式打包。如果流程中断或错拣，订单需要整单复核。 过去，调度员需要在路线、车型、载重和时效之间来回推演。一遇到跨仓调拨或需求波动——比如某区域突然感冒高发，导致当地仓库缺货——所有路线 都必须重新排。因此，一个人要处理上万SKU与各仓之间的动态关系，往往一排车就要一小时以上。 这是广西柳药集团的日常缩影。 这家区域龙头医药流通企业成立于上世纪50年代，是广西最早的国有医药公司之一。经过数十年的区域扩张与品类延展，柳药已从传统医药流通企业，成 长为覆盖医院、连锁药店 ...

Core Viewpoint - The supply chain industry is experiencing a tension between traditional human-driven processes and the push for technological advancement, with companies like Shimon Holdings exemplifying the current state of the industry rather than its future direction [1][3][18] Group 1: Company Overview - Shimon Holdings operates in a traditional supply chain model, focusing on services such as port container handling, customs clearance, trunk transportation, and warehousing management, which are integrated into a complete chain without a significant technological focus [3][5] - The company has reported zero R&D investment in recent years, highlighting a stark contrast to the industry's trend towards supply chain intelligence [3][5] - Shimon's client concentration is high, with the top five clients accounting for 86%-88% of revenue, indicating a reliance on long-term relationships with major manufacturers [5][12] Group 2: Financial Performance - Shimon Holdings has shown stable revenue growth with a compound annual growth rate (CAGR) of 12.81% and profit CAGR of 22.96% over recent years [12] - The company's gross margin has experienced fluctuations, moving from 19.95% to 24.95% and then back to 22.84%, reflecting the impact of external factors such as client schedules and operational costs [12] - Accounts receivable consistently represent 30%-40% of revenue, indicating the need for ongoing cash flow management within the manufacturing sector [12] Group 3: Industry Context - The supply chain industry is currently divided between companies that rely on traditional execution-driven models and those that are moving towards systematization and digitalization [10][11] - Shimon Holdings represents a snapshot of the past decade in China's manufacturing supply chain, characterized by client concentration, execution-driven operations, and a reliance on human resources [15][18] - The industry is gradually shifting towards automated and intelligent supply chains, with competitors investing in technology to enhance margins and reduce management costs [10][15]

2025亚马逊全球开店跨境峰会昨日在杭州正式启幕，首日就抛出数十项重磅信息。 从最新卖家增长数据，到深圳全球智能枢纽仓的首次公开，再到2026年四大业务战略全面亮相，亚马逊几乎将未来跨境三年的发展方向一次性交代清楚。 伴随"下一代跨境链"的提出，"一次上架、全球开卖"不再是概念，而是即将在2026年完成的基础架构升级。 01 亚马逊发布"下一代跨境链"： 一次上架，全球开卖 今年峰会上最受关注的内容，是亚马逊正式宣布"Next Generation Global Selling"战略，并明确未来将让卖家实现真正意义上的"一次上架，全球开卖"。核 心在于供应链架构的重建：卖家只需将商品入库至货源地仓库，如2026年即将启用的深圳全球智能枢纽仓（GWD），系统便会自动将商品信息同步至全 球20多个站点，并根据需求预测、履约时效和库存情况，使用算法决定从哪个节点发货。 这种模式将不再要求卖家为不同市场重复建仓，跨境物流链路被统一到一个智能系统内管理，跨境业务的复杂度大幅下降，也意味着全球站点之间的库存 调拨将更灵活、更低成本。 02 2026年四大业务战略正式公布 物流方面，"智慧链动"战略将依托 AI与自动化技术 ...

Core Viewpoint - JD Industrial has signed a strategic cooperation agreement with Southern Power Grid Supply Chain Group, expanding collaboration from material supply to eight comprehensive areas including warehousing, logistics, technology, consulting, overseas supply assurance, and talent training [1] Group 1: Areas of Collaboration - The cooperation will cover eight major areas, indicating a broad and multi-layered partnership [1] - The collaboration model will evolve from a single scenario to multiple scenarios, focusing on process optimization, model innovation, and joint research on advanced technologies [1] Group 2: Supply Chain Development - The partnership aims to promote the development of the supply chain system towards intelligence and resilience [1]

Core Viewpoint - The "New Quality Power Going Abroad" roundtable meeting focused on the dual transformation of cross-border e-commerce towards "compliance" and "intelligent supply chain" in the context of tightening global customs policies [1][5][15] Group 1: Key Changes in Cross-Border E-Commerce - The meeting highlighted three significant changes: the end of the U.S. De Minimis policy, the full implementation of the EU ICS2, and the strengthening of regulations in Southeast Asian social e-commerce [3] - The transition from "low threshold" to "high compliance" necessitates a restructuring of cost structures and delivery systems for enterprises [5] Group 2: Industry Insights and Trends - The founder of Fashion Planet shared insights on the trend of going abroad, emphasizing the importance of breaking down information barriers to empower more Chinese clothing brands [5] - SHEIN's "Unique Gravity" program aims to support OBM merchants in achieving scale growth through five key elements: mindset transformation, operational efficiency, supply assurance, brand planning, and long-term value [6] Group 3: Intellectual Property and Compliance - A special session on "Intellectual Property Protection in Cross-Border E-Commerce" discussed the increasing number of patent lawsuits and the need for companies to focus on intellectual property layout during their international expansion [10] Group 4: Regional Development and Strategic Value - The Panyu Industrial Economic Headquarters Park is positioned as a key player in the high-quality development of the fashion industry, providing quality space and supporting regional industrial transformation [12][14] - The park's operational manager emphasized the importance of resource integration and service empowerment in driving the healthy cycle of the industrial ecosystem [14]

Core Insights - Increasing employee usage of AI tools is not translating into cost savings or sales growth for companies, with 95% of generative AI investments yielding little to no return and half of the projects failing [1] - The phenomenon of "shadow AI" is prevalent, where employees utilize AI without clear visibility or understanding of its impact on business processes [1] - Shenzhou Holdings has launched a new smart supply chain strategy and introduced the supply chain intelligent agent "Xiao Jin" to address the challenge of integrating general AI models into enterprise-specific applications [1][3] Company Overview - Shenzhou Digital, established in 2000, offers services in IT infrastructure, integrated IT services, smart city services, and big data services, while KJ was founded in 2003 focusing on supply chain software [3] - Shenzhou Holdings aims to integrate its AI capabilities with KJ's 20 years of industry expertise to drive the intelligent transformation of supply chains [3] Product Features - The "Xiao Jin" intelligent agent suite includes three core assistants: Data Assistant, Decision Assistant, and Customer Assistant, enhancing efficiency in various tasks by up to 90% for data queries and 70% for decision-making processes [4] - The intelligent agents cover multiple roles, improving efficiency in tasks such as bid writing and product design by 70% and 50% respectively [4] Business Model and Strategy - KJ has developed a comprehensive service model that integrates trade and logistics, providing end-to-end, visual, and traceable services to clients [4] - The company has established a sales network with over 30,000 partners across 1,000 cities, leveraging AI and big data to transform supply chains from passive tools to proactive decision-making systems [4] Strategic Partnerships - During a recent conference, KJ signed strategic cooperation agreements with four industry leaders to provide integrated supply chain solutions and participate in digital transformation [5] - KJ has initiated the "Supply Chain + AI Ecosystem Alliance" with various academic and industry partners to foster collaboration and innovation in the supply chain sector [5] Future Directions - The alliance will focus on three main areas: accelerating innovation, creating a value community to break data silos, and building a new ecosystem for knowledge sharing and talent development [5] - The goal is to achieve cross-enterprise and cross-industry collaboration to maximize the value of the entire supply chain [5]

Core Viewpoint - The report from CMB International highlights Tuhu-W's (9690) strong management capabilities, which enable the company to achieve steady growth and significant market share gains despite industry headwinds [1] Financial Performance - In the first half of 2025, Tuhu reported revenue of 7.88 billion RMB, a year-on-year increase of 11%, with growth accelerating compared to 2024 [1] - Adjusted net profit reached 410 million RMB, up 15% year-on-year, exceeding market expectations [1] - The adjusted total operating expense ratio was 22.4%, continuing a trend of optimization [1] - Free cash flow improved by 32.2% to 350 million RMB compared to the same period last year [1] - As of the end of the reporting period, Tuhu had over 7.5 billion RMB in cash reserves, indicating strong financial health [1] Market Position and Expansion - Tuhu's workshop store network expanded to 7,205 locations by June 30, 2025, a 14% increase year-on-year, maintaining industry leadership [2] - The store network covers 320 prefecture-level administrative regions and 1,855 county-level regions across all provincial-level areas except for Macau and Taiwan, achieving a 70% coverage rate in counties with over 20,000 passenger vehicles [2] Supply Chain and Operational Efficiency - Tuhu has significantly invested in supply chain automation, with the launch of the first fully automated retail warehouse in Guangzhou, reducing labor costs by 60% and achieving 2.5 times the efficiency of traditional warehousing [4] - The next-day delivery rate for Tuhu logistics improved to 83%, while fulfillment costs decreased by 0.5 percentage points [4] Support for Franchisees - In response to market conditions, Tuhu increased support for franchise workshop stores, launching initiatives such as "10 Billion Subsidy, 10,000 Stores Together" and "Tuhu New Youth" to enhance competitiveness [4] - Approximately 90% of Tuhu workshop stores operating for over six months remained profitable, with same-store fulfillment user numbers growing by over 7% year-on-year [5]

Core Insights - The article highlights the growing importance of artificial intelligence (AI) in transforming supply chains towards intelligence, resilience, and efficiency in response to complex business environments [1][3] - The focus is on Hongtu Intelligent Logistics Co., Ltd. (宏图智能), which has developed an AI model, SCAD-LM, aimed at enhancing supply chain analysis and decision-making [3][6] Company Overview - Hongtu Intelligent was recognized as a "Star Enterprise" in the AI and robotics application industry by the Sichuan Provincial Department of Science and Technology [3] - The company has evolved from a third-party logistics service provider to a digital and AI-driven industrial service provider over nearly 20 years [4][10] Product and Technology - SCAD-LM integrates multi-dimensional information for demand forecasting, reducing error rates by 30% compared to industry averages, and enhances inventory turnover rates by 25% [6][9] - The AI model also optimizes logistics by analyzing multiple factors to plan the best delivery routes, thereby reducing transportation time and costs [6][9] Market Impact - Hongtu Intelligent has served over 500 enterprises across various industries, including chemicals, steel, and food, saving clients over 100 million yuan in operational management costs [6][10] - The company’s logistics platform, 拉货宝, has achieved a 15% reduction in transportation costs through precise matching of cargo and vehicles [9] Strategic Vision - The company aims to build a comprehensive digital and intelligent ecosystem in supply chain management, focusing on breaking down "information silos" within industrial enterprises [10][14] - Hongtu Intelligent plans to continue investing in R&D and deepen the integration of technology with practical applications to become a benchmark for smart supply chain solutions in Southwest China and nationwide [14]

Core Insights - The company, TuHu-W, reported a strong performance in the first half of 2025, with revenue reaching 7.88 billion RMB, a year-on-year increase of 10.5% [2] - The user base continued to grow rapidly, with registered users reaching 150 million, a year-on-year increase of 18.8% [2] - The company expanded its workshop network significantly, with a total of 7,205 service centers across 320 prefecture-level and 1,855 county-level administrative regions [2] Financial Performance - The adjusted net profit for the first half of 2025 was 410 million RMB, reflecting a year-on-year growth of 14.6% [2] - Total operating expenses were 1.77 billion RMB, accounting for 22.4% of revenue, showing continuous optimization compared to the same period in 2024 [4] - Free cash flow increased by 32.2% year-on-year, reaching 350 million RMB, with total cash reserves exceeding 7.5 billion RMB [4] User and Market Expansion - The company achieved a 64% user repurchase rate and maintained a service satisfaction rate exceeding 95% [2] - The number of transaction users over a 12-month period reached 26.5 million, a year-on-year increase of 23.8% [2] - The company’s fast repair business saw revenue growth exceeding 60% year-on-year, becoming a new growth driver [3] Supply Chain and Operational Efficiency - The company invested in supply chain automation, resulting in a 60% reduction in labor costs and a 2.5 times increase in efficiency compared to traditional warehousing [3] - The next-day delivery rate improved to 83%, while fulfillment cost rates decreased by 0.5 percentage points [3] - The company is piloting unmanned vehicle deliveries in cities like Nanjing and Chengdu, laying the groundwork for automated last-mile logistics [3] Strategic Initiatives - The company launched several support initiatives for franchise workshop stores, including "10 Billion Subsidy, 10,000 Stores Together" and "New Store Improvement Plan," which enhanced store operational vitality [3] - The company is focusing on fine-tuned operations and advanced technology investments to further improve operational quality and profitability [5]

Core Insights - Tuhu Car Service, a leading player in China's automotive service market, reported strong growth in its mid-year performance for 2025, with significant increases in revenue, user base, and service outlets [1][3]. Financial Performance - For the first half of 2025, Tuhu Car Service achieved a revenue of 7.88 billion yuan, representing a year-on-year growth of 10.5%, with a gross profit of 1.98 billion yuan and an adjusted net profit of 410 million yuan, up 14.6% year-on-year [1]. - The company's operating efficiency improved, with total operating expenses of 1.77 billion yuan, accounting for 22.4% of revenue, which is an optimization compared to the same period in 2024 [3]. User Growth and Engagement - As of June 30, 2025, Tuhu Car Service had 150 million registered users, a year-on-year increase of 18.8%, and 26.5 million active transaction users over the past 12 months, up 23.8% [1]. - The average monthly active users on the app reached 13.5 million, with a user repurchase rate of 64% and a service satisfaction rate exceeding 95% [1]. Expansion of Service Outlets - The number of Tuhu Car Service outlets reached 7,205, covering 320 prefecture-level and 1,855 county-level administrative regions, with a 70% coverage rate in counties with more than 20,000 passenger vehicles [1]. Strategic Initiatives - To enhance the competitiveness of franchise outlets, Tuhu Car Service increased support for franchisees, launching initiatives such as "10 Billion Subsidy, 10,000 Stores Together" and "New Store Improvement Plan," resulting in a more than 7% year-on-year growth in same-store user numbers [2]. - The company has also made significant investments in AI tools and supply chain automation, leading to a 60% reduction in labor costs and a 2.5 times increase in efficiency compared to traditional warehousing [2]. New Business Growth - The fast repair business saw a substantial year-on-year revenue increase of over 60%, becoming a new growth driver for the company [3]. - In the new energy sector, transaction users reached 3.4 million, a year-on-year increase of 83.5%, accounting for over 12% of total transaction users [3]. Cash Flow and Financial Health - Tuhu Car Service reported a free cash flow of 350 million yuan, a 32.2% increase compared to the same period last year, with total cash reserves exceeding 7.5 billion yuan, indicating strong financial health [3].