Core Viewpoint - The increasing competitiveness of domestic brands and the growing international demand have led to more Chinese brands expanding into global markets, although they face challenges in brand building, sales channels, product standards, and settlement rules [1] Group 1: Localization and Innovation - Localized R&D innovation is essential for meeting the diverse needs of consumers in different countries, as seen in Haier's energy-efficient refrigerators and ice-making technology tailored for European and Spanish markets [2] - The export of Chinese refrigerators saw a 4% year-on-year increase in both quantity and value from January to May this year, surpassing the average growth rate [2] Group 2: Localized Operations - Chinese companies are leveraging local resources and collaborating with local firms to mitigate risks related to labor disputes, environmental compliance, and tax regulations, while also creating local jobs and increasing tax revenue [2] Group 3: Building Local Ecosystems - Some domestic brands are exploring joint ventures, mergers, and strategic alliances to integrate localization with innovation, thereby enhancing international competitiveness and reducing operational costs [3] - To further assist domestic brands in going global, there is a need to enhance brand building and marketing capabilities, focusing on defining core values and unique selling points [3] Group 4: Comprehensive Overseas Service System - There is a call for improving the overseas service system for export risk management, foreign exchange settlement, and credit risk management, alongside fostering collaboration and information sharing among companies [4] - Establishing a public service platform for "going out" can leverage the advantages of overseas economic and trade cooperation zones, enhancing the support for domestic brands in global competition [4] - Localized R&D is becoming a focal point for domestic brands' international expansion, with an emphasis on building local ecosystems, brand development, and service system enhancement to achieve sustainable growth in global markets [4]

Group 1 - The core viewpoint of the article emphasizes the establishment of a technology center by Enfu (China) under the Kordel Group, aimed at enhancing local R&D capabilities and developing innovative products tailored to Chinese customers [1][2] - The total investment for the new technology center and factory in Wuxi is 200 million RMB, integrating R&D, production, and sales, which is a key initiative for Kordel Group's local development and industrial upgrade in China [1] - The technology center will focus on emerging industries such as new energy vehicles, hydrogen energy and fuel cells, wind power facilities, and robotics, leveraging existing technological advantages in the automotive and general industries [1] Group 2 - Kordel Group is committed to long-term development in China, continuously investing in high-tech manufacturing infrastructure and local R&D facilities as part of its innovation strategy [2] - The company believes that its global technological strength combined with local deployment in China will effectively address various challenges and seize market opportunities for sustained growth [2] - The increasing demand for deeper R&D capabilities from local customers is highlighted as a challenge, necessitating enhancements in product development, design, and validation processes [1]

Core Viewpoint - Porsche is facing significant challenges in the Chinese market, leading to drastic price reductions in an attempt to boost sales after three consecutive years of declining sales figures [1][2]. Group 1: Sales Performance - Porsche's sales in China have been declining since reaching a peak of 95,700 units in 2021, with a 42% year-on-year drop in Q1 2025, delivering only 9,471 vehicles compared to 16,340 in the same period last year [1][2]. - In 2022, while global sales increased by 3%, sales in China fell by 2.5%, and in 2023, the decline worsened to 15%, making China the only region where Porsche's sales decreased [2]. - The 2024 financial report indicated a revenue of €400.8 billion, a decrease of approximately 1%, and a sales profit of €56.4 billion, down about 23% year-on-year [2]. Group 2: Market Strategy - Porsche is engaging in significant price cuts, with discounts exceeding 30% on models like the Cayenne and Panamera, as part of a strategy to clear inventory [1][3]. - Despite the CEO's emphasis on a "quality over quantity" strategy and reluctance to engage in price wars, the reality of the market has forced Porsche to adapt [2][3]. Group 3: Local Adaptation and Restructuring - To better meet local consumer demands, Porsche is enhancing its local R&D efforts, focusing on smart driving and connectivity features, with a new R&D center established in Shanghai [3]. - The company is also undergoing organizational restructuring, including a 10% reduction in full-time employees and a 30% cut in outsourced staff, aimed at optimizing efficiency and reducing costs [4]. - Porsche's sales network in China has been reduced to approximately 140 outlets, with plans to further decrease this number to around 100 by 2027 based on market dynamics [5].