Core Viewpoint - The performance of Yiwu market continues to improve, with Xiaogoods City (600415.SH) showing steady growth in profitability, expecting a net profit of 16.3 to 17 billion yuan for the first half of 2025, representing a year-on-year increase of 12.57% to 17.4% [1][3]. Group 1: Financial Performance - Xiaogoods City anticipates a net profit of 16.3 to 17 billion yuan for H1 2025, with a year-on-year growth of 12.57% to 17.4% [1][3]. - The company expects a net profit excluding non-recurring items of 16.1 to 16.8 billion yuan, reflecting a year-on-year increase of 13.46% to 18.39% [1][3]. - From 2021 to 2024, Xiaogoods City reported revenues of 60.34 billion yuan, 76.2 billion yuan, 113 billion yuan, and 157.37 billion yuan, with respective year-on-year growth rates of 61.95%, 26.28%, 48.3%, and 39.27% [3]. Group 2: Market Dynamics - Since February 2025, Yiwu market has shown robust activity, maintaining a daily opening rate of over 97% and attracting more than 23,000 visitors daily [2]. - The market has seen an influx of nearly 3,800 foreign merchants daily, indicating a stable operational environment amidst a complex international trade landscape [2]. Group 3: Strategic Developments - Xiaogoods City has exceeded expectations in its global digital trade center market segment, completing the first batch of 389 fashion jewelry industry shops with a high demand ratio of 4.25:1 [5][6]. - The company has developed a comprehensive ecosystem for product display, supporting services, and trade services, enhancing overall operational performance [5][6]. Group 4: Payment Services - The payment platform "Yi Payment" has achieved over 25 billion USD in cross-border receipts as of June 26, 2025, marking a year-on-year growth of over 47% [1][7]. - Yi Payment has established a global service network covering over 160 countries, facilitating cross-border transactions for 23,000 foreign trade enterprises [7]. Group 5: Shareholder Activity - The controlling shareholder, Yiwu China Xiaogoods City Holdings, has completed a share buyback plan, acquiring 52.8853 million shares for approximately 9.98 billion yuan, representing 0.96% of the total share capital [4].