格隆汇1月30日丨供销大集(000564.SZ)公布，预计2025年亏损19亿元–13亿元，上年同期亏损132,367.65 万元，扣非亏损11亿元-6亿元。公司持续推动商业运营、商贸物流、商品贸易三大主业协同发展。其 中，商业运营板块紧扣"模式创新+调改升级"主线，整体出租率稳步提升；商贸物流板块围绕"降本增效 +业态创新"精准发力，降本增效实现突破；商品贸易板块紧扣市场需求拓展业务布局。本报告期，营 收保持平稳，期间费用同比优化下降，公司经营发展格局持续向好。但受商业地产市场持续低迷、租金 水平较往年下滑的影响，导致投资性房地产公允价值大幅下跌，相关变动损失较上期增加；同时公司对 存在减值迹象的存货、商誉及其他长期资产计提的资产减值金额较上期增加，导致本报告期公司利润仍 处于亏损状态。 ...

格隆汇1月30日丨供销大集(000564.SZ)公布，预计2025年亏损19亿元–13亿元，上年同期亏损132,367.65 万元，扣非亏损11亿元-6亿元。公司持续推动商业运营、商贸物流、商品贸易三大主业协同发展。其 中，商业运营板块紧扣"模式创新+调改升级"主线，整体出租率稳步提升；商贸物流板块围绕"降本增效 +业态创新"精准发力，降本增效实现突破；商品贸易板块紧扣市场需求拓展业务布局。本报告期，营 收保持平稳，期间费用同比优化下降，公司经营发展格局持续向好。但受商业地产市场持续低迷、租金 水平较往年下滑的影响，导致投资性房地产公允价值大幅下跌，相关变动损失较上期增加；同时公司对 存在减值迹象的存货、商誉及其他长期资产计提的资产减值金额较上期增加，导致本报告期公司利润仍 处于亏损状态。 ...

和喜悦实时传递。这里不止有货通全球，更有温暖的家。在中国生活八年的阿利夫说，以前想家，但现 在这里是我的家。(制作 陈庆洋 赵一力） 来自也门的客商阿利夫做的圆饼，是"团圆"的期盼；来自俄罗斯的客商娜雅的国际电话，是"相遇"的奇 迹；来自哥伦比亚的客商约翰在这有了属于自己的家。义乌这座"世界超市"不仅让商品相遇，更让文化 ...

Group 1 - Hong Kong's overall export value in August increased by 14.5% year-on-year, marking the 18th consecutive month of growth, with the growth rate accelerating by 0.2 percentage points compared to July [1] - The overall import value in Hong Kong for August rose by 11.5% year-on-year, continuing an upward trend for 8 months [2] - The trade deficit for August was recorded at 25.4 billion HKD, while the trade deficit for the first eight months of the year amounted to 243.3 billion HKD [2] Group 2 - Exports to mainland China and most other Asian markets showed steady growth, with exports to the US and EU also increasing [3] - Major commodities, including electric equipment and machinery, demonstrated strong export performance [3] - The ongoing economic growth in Asia, particularly in mainland China, is expected to support Hong Kong's trade performance, although US trade policies may impact the short-term outlook for international trade flows [6]

Core Viewpoint - Hong Kong's overall export and import values showed significant year-on-year growth in August 2025, with exports increasing by 14.5% and imports by 11.5% [1] Group 1: Trade Statistics - In August 2025, the total export value reached 436.6 billion HKD, reflecting a 14.5% increase year-on-year [1] - The total import value was 462 billion HKD, marking an 11.5% year-on-year increase [1] - The tangible trade deficit for August was 25.4 billion HKD, equivalent to 5.5% of the import value [1] - For the first eight months of 2025, both export and import values rose by 13.0% year-on-year [1] - The tangible trade deficit for the first eight months was 243.3 billion HKD, representing 6.8% of the import value [1] Group 2: Market Insights - Exports to mainland China and most other Asian markets continued to show robust growth in August [1] - Exports to the United States and the European Union also saw an upward trend [1] - The export performance of major goods, particularly electric equipment and machinery, remained strong [1] Group 3: Future Outlook - The ongoing economic growth in Asia, especially in mainland China, is expected to support Hong Kong's trade performance [1] - Increasing economic ties between Hong Kong and various markets are anticipated to bolster trade [1] - U.S. trade policies are expected to continue influencing the short-term outlook of international trade flows [1]

Core Insights - Hong Kong's overall export and import values recorded year-on-year increases in August 2025, with exports rising by 14.5% and imports by 11.5% compared to August 2024 [1] - The trade deficit for August 2025 was HKD 25.4 billion, equivalent to 5.5% of the import value [1] - For the first eight months of 2025, both export and import values increased by 13.0% compared to the same period in 2024, with a trade deficit of HKD 243.3 billion, or 6.8% of imports [1] Export Performance - In August 2025, exports to Asia increased by 12.6%, with significant growth to Malaysia (73.6%), Vietnam (54.3%), and the Philippines (36.9%) [2] - Exports to other regions also saw increases, particularly to the Netherlands (65.7%), the UK (55.8%), and the US (17.3%) [2] - For the first eight months of 2025, exports to Vietnam rose by 52.7%, Malaysia by 45.3%, and Taiwan by 39.8% compared to the same period in 2024 [2] Import Performance - Import values from major suppliers increased, especially from Vietnam (80.8%), Malaysia (14.6%), and Japan (13.3%) [2][3] - In August 2025, imports from Vietnam rose by 81.1%, while imports from South Korea decreased by 17.5% [3] - For the first eight months of 2025, imports from Taiwan increased by 30.2% and from Malaysia by 21.4% compared to the same period in 2024 [3] Commodity Categories - In August 2025, the export value of "electrical machinery, instruments, and parts" increased by HKD 29.4 billion (15.7%), while "communication, recording, and sound equipment" rose by HKD 11 billion (23.9%) [3][4] - The import value of "electrical machinery, instruments, and parts" also increased by HKD 28.5 billion (15.2%), and "communication, recording, and sound equipment" by HKD 14.2 billion (32.4%) [3][4] - For the first eight months of 2025, exports of "electrical machinery, instruments, and parts" rose by HKD 209.9 billion (14.9%), and "office machines and automatic data processing equipment" by HKD 125.8 billion (37.6%) [4] Future Outlook - The Hong Kong government anticipates continued support for trade performance from the ongoing economic growth in Asia, particularly in mainland China, and closer economic ties with various markets [4] - However, US trade policies are expected to impact the short-term outlook for international trade flows [4]

Core Insights - In July 2025, Hong Kong's overall export and import values recorded year-on-year increases of 14.3% and 16.5%, respectively [1][3]. Trade Performance - The total export value for July 2025 was HKD 446.3 billion, reflecting a 14.3% increase compared to the previous year [3]. - The total import value for the same month was HKD 480.4 billion, showing a 16.5% year-on-year growth [3]. - A tangible trade deficit of HKD 34.1 billion was recorded in July, equivalent to 7.1% of the import value [3]. Year-to-Date Trends - For the first seven months of 2025, the overall export value increased by 12.7%, while the import value rose by 13.2% [3]. - A cumulative tangible trade deficit of HKD 218.6 billion was noted, representing 7% of the total import value during this period [3]. Market Dynamics - The spokesperson for the Hong Kong Special Administrative Region government indicated that July's export performance was robust, with significant growth in exports to mainland China and most other Asian markets [3]. - However, exports to the United States and the European Union experienced a decline [3]. - Future prospects for Hong Kong's trade performance are supported by steady economic growth in Asia, particularly in mainland China, and increasingly close economic ties with various markets [3].

Core Viewpoint - Hong Kong's overall export and import values showed year-on-year increases in July 2025, with exports rising by 14.3% and imports by 16.5% compared to July 2024 [1] Trade Performance - In July 2025, the total export value reached HKD 446.3 billion, up 14.3% from the same month in 2024, while the total import value was HKD 480.4 billion, reflecting a 16.5% increase [1] - The tangible trade deficit for July 2025 was HKD 34.1 billion, equivalent to 7.1% of the import value [1] - For the first seven months of 2025, total export value increased by 12.7% and total import value rose by 13.2% compared to the same period in 2024, resulting in a tangible trade deficit of HKD 218.6 billion, or 7.0% of the import value [1] Regional Analysis - In July 2025, exports to Asia increased by 19.3%, with significant rises to Taiwan (91.9%), Malaysia (80.7%), Singapore (42.5%), Vietnam (42.1%), the Philippines (16.5%), and mainland China (16.1%) [2] - Imports from major supply regions also saw increases, particularly from Vietnam (129.3%), Thailand (33.1%), Singapore (28.7%), the UK (24.8%), Japan (22.3%), and mainland China (16.3%) [2][3] - For the first seven months of 2025, exports to Vietnam rose by 52.4%, Malaysia by 41.4%, Taiwan by 40.7%, mainland China by 17.7%, and Japan by 14.8% [2] Product Category Analysis - In July 2025, significant increases in export values were noted for electric machinery, instruments, and parts (up HKD 41.9 billion, 22.8%) and communication, recording, and sound equipment (up HKD 14.9 billion, 32.0%) [4] - Import values also rose for electric machinery, instruments, and parts (up HKD 39.6 billion, 21.9%) and communication, recording, and sound equipment (up HKD 22.2 billion, 49.8%) [4] - For the first seven months of 2025, electric machinery, instruments, and parts saw an increase of HKD 180.6 billion (14.8%), while office machines and automatic data processing equipment rose by HKD 127.4 billion (44.4%) in export values [4] Future Outlook - The steady growth of the mainland economy and closer economic ties with various markets are expected to support Hong Kong's trade performance [5] - However, high tariffs and uncertainties in U.S. trade policies may impact international trade flows in the short term [5]

Core Insights - Hong Kong's overall export and import values both recorded year-on-year increases in June 2025, with exports rising by 11.9% and imports by 11.1% [1] - The trade deficit for June 2025 was HKD 58.9 billion, equivalent to 12.4% of the import value [1] - For the first half of 2025, overall export value increased by 12.5% compared to the same period in 2024, while import value rose by 12.6% [1] By Country/Region Analysis - In June 2025, exports to Asia increased by 17.2%, with significant rises to Malaysia (52.6%), the Philippines (48.3%), Vietnam (37.6%), mainland China (18.3%), and India (12.5%) [2] - Conversely, exports to South Korea decreased by 10.9%, and exports to the Netherlands and the United States also saw declines of 35.5% and 12.1%, respectively [2] - For the first half of 2025, exports to Vietnam surged by 54.4%, Malaysia by 34.6%, and Taiwan by 33.0% [2] By Major Product Category Analysis - In June 2025, significant increases in export values were noted for "electrical machinery, instruments, and apparatus" (up HKD 35.8 billion, 20.2%) and "office machines and automatic data processing equipment" (up HKD 4.7 billion, 10.4%) [4] - Import values for the same categories also rose, particularly for "electrical machinery, instruments, and apparatus" (up HKD 28.4 billion, 14.6%) and "communication, recording, and sound equipment" (up HKD 8.3 billion, 17.7%) [4] - For the first half of 2025, exports of "electrical machinery, instruments, and apparatus" increased by HKD 139.2 billion (13.4%), while "office machines and automatic data processing equipment" saw a remarkable rise of HKD 129.7 billion (55.4%) [4] Comments - The Hong Kong government spokesperson noted that the export performance in June remained robust, with a significant year-on-year growth of 11.9% [5] - Exports to mainland China and most other Asian markets continued to expand significantly, while exports to the US and EU declined [5] Future Outlook - The steady growth of the mainland economy and the increasingly close economic ties between Hong Kong and various markets are expected to support trade performance [6] - However, the global trade policy outlook remains uncertain, prompting the Hong Kong government to monitor the situation closely [6]

Core Insights - Hong Kong's overall export and import values recorded year-on-year increases in April 2025, with exports rising by 14.7% and imports by 15.8% [1] - The total export value for April 2025 reached HKD 434.5 billion, while the import value was HKD 450.5 billion [1] - A tangible trade deficit of HKD 16 billion was recorded in April 2025, equivalent to 3.6% of the import value [1] Export Performance - The export value in April 2025 was HKD 434.5 billion, reflecting a 14.7% increase compared to April 2024 [1] - This follows a significant increase of 18.5% in March 2025 [1] Import Performance - The import value in April 2025 was HKD 450.5 billion, showing a 15.8% increase from April 2024 [1] - This comes after a 16.6% increase recorded in March 2025 [1] Trade Balance - The trade deficit for April 2025 was HKD 16 billion, which is 3.6% of the total import value [1]