TTSOP跨境互联 一站式提供TikTok账号 + 静态住宅IP，专为带货直播打造爆量通道。 在TikTok上，内容决定曝光，选品决定成交。 很多卖家和创作者，都经历过这样的过程： 视频播放几十万，却没人下单； 反而别人拍个模糊视频，卖断货。 为什么？ 不是剪辑问题，也不是算法在"针对你"，而是——你选的品，不适合做TikTok。 今天，我们就从实战出发，聊聊TikTok选品的"四个关键维度"，它能帮你筛掉80%的无效产品，让你的视频更容易爆，带货更稳更长久。 数据支撑： 根据Shopify 2025年卖家数据统计，单价在 15~35美元 且重量低于 500克 的产品，平均转化率比高价产品高 2.6倍。 结论： 选轻小件不是"小打小闹"，而是"高频爆品"的现实逻辑。 二、高颜值：视频时代的第一生产力 一、轻小件：物流成本低、用户决策快 TikTok跨境带货的一个底层逻辑是——"冲动消费+跨境物流"。 如果产品太大、太重，比如家电、大件家具，不仅运费高、退货难，还容易让用户在下单前犹豫。 而轻小件，比如美妆工具、饰品、小玩具、小家电配件，发货快、成本低、买家思考时间短，非常适合短视频带货的"即看即买"逻辑。 T ...

Group 1 - The conference emphasized the new paradigm of global brand development, highlighting the importance of brands as carriers of economic globalization and drivers of service trade [1] - Chinese brands have shown significant progress in recent years, becoming a vital link between domestic and international markets, driven by innovation and open cooperation [1][2] - The number and value of Chinese brands in the global top 500 continue to grow, with a leading position in patent and trademark applications, indicating a shift from "Made in China" to "Created in China" [2] Group 2 - High-quality development is centered on innovation and digitalization, with brand strength and influence as key indicators [3] - Companies are encouraged to adopt a "look before you leap" approach when entering international markets, considering local political, economic, and cultural factors [3] - The strategy for brands going global should focus on differentiation, digitalization, and localization, with examples of successful brand positioning and storytelling [3]

Group 1 - The core viewpoint of the articles emphasizes that the fashion industry is focusing on "differentiation" and "omni-channel management" as key strategies to stand out in a competitive market [1] - The rise of sustainable materials, live streaming innovations, and cultural trends such as "Guochao" and "ACG" are driving consumer demand towards more niche and refined segments [1] - The "new product launch" strategy is critical for brands, with Douyin Mall's "Influencer New Launch" activity serving as a new model for the industry, generating significant engagement and exposure across multiple platforms [3] Group 2 - The collaboration between celebrities and influencers has created a synergistic effect, leading to a massive reach of over 4 billion fans and generating 1.3 billion exposures across platforms [3] - Influencers have successfully engaged users to create UGC content, with specific campaigns achieving over 200 million views, demonstrating the effectiveness of community-driven marketing [3][5] - The integration of storytelling and cultural elements in live streaming has enhanced brand narratives and improved sales performance, with some brands achieving GMV increases of up to 653% [5] Group 3 - The influencer-led new launch model has lowered the barriers for trend identification, allowing consumers to quickly find suitable styles and quality products [6] - The pre-accumulated buzz from these activities supports major sales events like Double Eleven, creating a closed loop of "trend leadership - sales conversion - asset accumulation" [6] - The industry is shifting from a focus on price competition to value competition, driven by the support of platforms through data and tools [6]

Core Insights - The upcoming 2026 World Cup has led to an early peak season for the sports goods industry in Yiwu, with exports showing significant growth in the first seven months of the year [1][2] - Yiwu's sports goods exports reached 6.78 billion yuan, a year-on-year increase of 16.8%, with exports to North America totaling 1.88 billion yuan, up 10% [1] - Despite the positive trends, many small and medium-sized enterprises still face significant challenges, with some reporting stagnant order growth compared to previous World Cup cycles [4][5] Group 1: Market Dynamics - The traditional off-season has shifted, with increased demand for sports goods, particularly soccer balls, driven by the World Cup [1][2] - Yiwu's sports goods association estimates that Yiwu manufacturing accounted for nearly 70% of the surrounding goods market during the last World Cup [3] - The overall demand for sports goods remains uncertain, with some businesses reporting only flat order volumes compared to previous events [4] Group 2: Brand Strategy and Market Adaptation - Companies in Yiwu are focusing on brand development and quality to differentiate themselves in the market, with some producing over a million balls annually [2][7] - The emphasis on brand and product differentiation is seen as a strategy to maintain resilience against global economic uncertainties [7][8] - Businesses are adapting to local market needs by diversifying product lines and price points, ensuring they meet varying customer demands [8] Group 3: Challenges and Legal Concerns - The industry faces challenges related to intellectual property rights, with companies expressing concerns about potential infringement due to rapid design changes [9] - Yiwu customs are implementing initiatives to support local brands in protecting their intellectual property and enhancing legal awareness [9]

Core Insights - The upcoming 2026 FIFA World Cup has led to an earlier peak season for sports goods, particularly in the ball category, although overall demand remains subdued [1][6] - Export data from Yiwu shows a significant increase in sports goods exports, with a total of 6.78 billion yuan in the first seven months of the year, marking a 16.8% year-on-year growth [1] - Despite the positive growth figures, many small and medium-sized enterprises still face significant challenges in the current economic climate [1][6] Export Performance - Yiwu's sports goods and equipment exports reached 6.78 billion yuan in the first seven months, with exports to North America and Mexico totaling 1.88 billion yuan, a 10% increase [1] - The previous World Cup saw a 60%-70% increase in export orders, while this year’s orders are reportedly flat compared to last year [6][8] - The last World Cup resulted in Yiwu exporting approximately 485 million yuan worth of sports goods, with a notable 38.8% increase in exports to Brazil [8] Market Dynamics - The demand for basketballs has seen a resurgence due to the Zhejiang Basketball League, while badminton products are also experiencing high sales [9] - However, the fitness equipment sector is still struggling, with reports of a significant drop in orders compared to previous years [6][9] Branding and Differentiation - Companies are focusing on brand development and local market adaptation to enhance resilience against uncertainties [10] - There is a strong emphasis on quality and innovation, with companies investing in higher-quality materials and unique designs to differentiate from competitors [10][11] - The strategy includes diversifying product lines to cater to various price points and regional preferences, ensuring quality while meeting budget constraints [11] Intellectual Property Concerns - Companies face challenges with intellectual property rights, as rapid design changes make it difficult to ensure compliance [12] - There is a call for better legal support for small enterprises to navigate intellectual property issues, with initiatives from Yiwu customs to promote awareness and protection [12]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 招商銀行股份有限公司 CHINA MERCHANTS BANK CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （H股股票代碼：03968） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 招商銀行股份有限公司董事會 2025年8月29日 於本公告日期，本公司的執行董事為王良及鍾德勝；本公司的股東董事（非執行 董事）為繆建民、石岱、孫雲飛、朱立偉及黃堅；及本公司的獨立非執行董事為 李孟剛、劉俏、田宏啟、李朝鮮、史永東及李健。 招商银行股份有限公司 CHINA MERCHANTS BANK CO., LTD. 二〇二五年半年度报告摘要 A股股票代码：600036 1 摘 要 1 重要提示 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到《中国证券报》网站（www.cs.com.cn）、《证券时报 ...

Group 1: Industry Transformation and Development - The energy and chemical industry is facing a narrowing window for transformation and upgrading, emphasizing the need for high-end development tailored to local conditions [1] - The current period is critical for the company's "second entrepreneurship," focusing on the advantages of the lubricating oil and paraffin specialty industry chain [1] - The company aims to shift from a production-oriented model to a market-oriented approach, enhancing its competitiveness in a changing external environment [1] Group 2: Safety and Environmental Standards - The company is committed to maintaining a strong safety baseline and adhering to environmental protection standards, prioritizing safety and environmental considerations in its operations [1] - A rigorous management system is being implemented to ensure compliance with safety and environmental regulations, with a focus on accountability at all levels [1] Group 3: Market Orientation and Product Development - The company is enhancing its market orientation by integrating production, sales, research, and application, treating market marketing as a vital aspect of its operations [2] - There is a focus on developing high-value-added products, such as food-grade white oil, while pursuing high-end, differentiated, and low-cost strategies [2] - The company is planning structural adjustments and promoting transformation by optimizing product structures and fostering new growth points in specialty oils [2] Group 4: Leadership and Organizational Development - The company emphasizes the importance of party leadership and strengthening party building, integrating it with professional responsibilities [3] - There is a focus on enhancing the effectiveness of talent cultivation and evaluation mechanisms to improve the overall combat effectiveness of the workforce [3]

Group 1: Company Insights - Wens Foodstuff Group reported significant improvement in pig farming costs due to stable production, effective disease control, and increased piglet breeding investment, with a debt-to-asset ratio reduced to 50.6% [1] - Three squirrels are transitioning towards high-end, quality, and differentiated products, achieving a revenue of 5.478 billion yuan and a net profit of 138 million yuan, with offline distribution doubling [2] - Yun Aluminum plans to implement a mid-term dividend of approximately 1.11 billion yuan, enhancing resource acquisition capabilities and maintaining a reasonable inventory level [3] - Giant Network achieved a revenue of 1.662 billion yuan, a year-on-year growth of 16.47%, with a net profit of 777 million yuan, focusing on content supply and exploring overseas markets [4] Group 2: Industry Trends - The food and retail industry is undergoing changes, making it difficult to generate value through homogeneous competition, prompting companies to focus on differentiation and quality [2] - The aluminum industry is seeing a push towards resource acquisition and green aluminum production, with a focus on technology upgrades [3] - The gaming industry is leveraging user-generated content and optimizing game performance to extend product life cycles, with a strong emphasis on user engagement [4]

Group 1: Company Insights - Citic Securities conducted a survey on Three Squirrels, indicating that the food and retail industry is undergoing significant changes by 2025, with a shift from homogeneous competition to a focus on high-end, quality, and differentiated products [1] - Three Squirrels reported a revenue of 5.478 billion and a net profit attributable to the parent company of 138 million, with over 20% growth in the second quarter, meeting expectations [1] - The company is experiencing a doubling in offline distribution and is actively exploring its own brand lifestyle stores, showcasing its capability to create cost-effective products while transitioning towards differentiation and quality [1] Group 2: Industry Trends - The food and retail industry is expected to face challenges due to past homogeneous competition, necessitating a transformation towards high-end and differentiated offerings [1] - The company is leveraging its four major centralized bases and self-owned factories to support product entry into major retail channels like Walmart and Aldi [1] - The "D+N" omnichannel system is emphasized, with comprehensive e-commerce as the foundation, short video e-commerce as a "category engine," and offline distribution still in its growth phase [1] Group 3: Fund Performance - Citic Securities Fund, established in 2013, has an asset management scale of 67.55 billion, ranking 77 out of 210, and a non-monetary public fund scale of 56.135 billion, ranking 70 out of 210 [2] - The fund manages 117 public funds, ranking 65 out of 210, with 23 fund managers, ranking 59 out of 210 [2] - The best-performing public fund product in the past year is the Citic Securities North Exchange Selection Two-Year Open Mixed A, with a latest unit net value of 2.78 and a growth of 264.31% over the past year [2]

Group 1: Company Insights - Dongxing Fund recently conducted research on two listed companies, including Three Squirrels and Dongxin Co., focusing on their strategic shifts and financial performance [1] - Three Squirrels is transitioning towards high-end, quality, and differentiated products, achieving a revenue of 5.478 billion yuan and a net profit of 138 million yuan, with over 20% growth in Q2 [1] - Dongxin Co. reported continuous improvement in revenue and gross profit, driven by the recovery in SLC NAND Flash demand and price increases, with significant contributions from SLC NAND products [1] Group 2: Industry Trends - The food and retail industry is undergoing changes, making it difficult to generate value through homogeneous competition, prompting companies to innovate [1] - The semiconductor market is experiencing a recovery in demand, particularly for SLC NAND Flash and NOR Flash products, with price adjustments following leading manufacturers [1] - The smart wearable device market is strong, with Dongxin Co. focusing on TWS headphones, feature phones, and smart wristbands, while also advancing Wi-Fi 7 wireless communication chip development [1] Group 3: Fund Performance - Dongxing Fund, established in 2020, has an asset management scale of 39.205 billion yuan, ranking 92 out of 210 in total public funds [2] - The fund's best-performing product in the past year is Dongxing Future Value Mixed A, with a net value of 1.52 and a growth of 83.82% over the last year [2]