本文来自微信公众号：亿邦动力 （ID：iebrun），作者：张从容，编辑：董金鹏，题图来自：AI生成 去年8月，我去医院复查卵巢囊肿，担心它变大和恶化，甚至糟糕到要做手术……不是不能承受这些负 面情绪，但还是雇来一位女大学生，让她扮演成我喜欢的虚拟角色，以男友的身份，陪我前往医院复 查。 B超室门口排队的，多是独自检查的孕妇，而陪伴的男性大多在玩手机。我们坐在角落里，滔滔不绝聊 她送我的礼物、我的工作，以"角色和他女友"的身份，聊未来的生活，仿佛有说不完的话。 进B超室前，我把之前的检查单落在她手上，但医生要看，便让护士去取。走出超声室，她说护士刚才 问家属在哪里。"我是你家属，我很高兴"。她以角色的口吻说。 一、cos委托：在虚拟与现实中为消解孤独定价 8月底，去参加了我喜欢的角色的七夕线下活动，现场有不少扮演成该角色的coser。路过的一对中年夫 妻不明所以，这样说道： "你说他们（coser）是男的是女的？" "小姑娘呗，你看她们那鞋底厚的。" 这种情况屡见不鲜。消费cos委托时，尽管和我"约会"的人扮成男性，但餐厅店员仍然会带着热情的笑 容说着出戏的话："两位美女想吃点什么？" 这是我第一次约cos委 ...

Core Insights - The article discusses the transformation of global supply chains from a focus on efficiency and cost to resilience, efficiency optimization, and sustainable development due to geopolitical tensions, technological advancements, and climate crises [3][31]. Group 1: Key Issues in Global Supply Chains - Four core issues are identified in the current global supply chain landscape: structural issues, risk control issues, efficiency issues, and sustainability issues [4][5]. - Structural issues are driven by geopolitical tensions leading to a shift from globalization to regionalization, increasing trade costs and necessitating fundamental adjustments in supply chain layouts [5][10]. - Risk control issues highlight the normalization of vulnerabilities and disruptions, with a significant increase in supply chain interruption events, leading to substantial revenue losses for companies [6][10]. - Efficiency issues arise from rising operational costs and declining collaboration efficiency within supply chains, exacerbated by regionalization and fragmentation [7][10]. - Sustainability issues are characterized by increased pressure for green transformation and compliance costs, as regulations evolve into market entry barriers [8][10]. Group 2: Trends and Challenges - The article outlines ten trends and challenges that are reshaping supply chain dynamics and competitive rules globally [9][10]. - Trend 1 emphasizes the shift towards regionalization and shorter supply chains, with global trade growth entering a plateau phase [10][13]. - Trend 2 discusses the restructuring of value chains within economic regions, with different countries assuming new roles in the value chain [16][18]. - Trend 3 highlights the imbalance in labor and capacity layouts, leading to labor shortages and mismatched production capabilities in emerging markets [18][19]. - Trend 4 focuses on the structural upgrade of Chinese enterprises going abroad, transitioning from traditional exports to more complex models [19][21]. - Trend 5 addresses the increasing uncertainty in global economic policies, which has become a new norm for supply chains [21][23]. - Trend 6 outlines the compounded risks facing global supply chains, including trade policy impacts and labor shortages, leading to systemic disruptions [23][25]. - Trend 7 discusses the dual-edged effects of digitalization and automation technologies on supply chains, enhancing efficiency while introducing new risks [25][26]. - Trend 8 presents the rise of flexible supply chains to adapt to rapid market changes and mitigate risks [26][27]. - Trend 9 highlights the pressures of green transformation and compliance costs as ESG standards become stringent market requirements [27][28]. - Trend 10 points out the differentiation and complexity of ESG standards across regions, creating compliance barriers for businesses [28][30]. Conclusion - The article concludes that the global supply chain is undergoing a critical transformation, necessitating a strategic upgrade for companies to navigate the intertwined challenges and trends effectively [31][32].

Core Insights - SF Holding has highlighted the increasing penetration of express delivery services into various life and production scenarios, indicating a shift in the nature of delivery demand [2] - The company noted that over half of its express delivery volume now consists of consumer goods, such as clothing and cosmetics, rather than just traditional business documents [2] - New manufacturing models are driving demand for express delivery, with flexible supply chains enabling small-batch and multi-batch production, leading to the adoption of just-in-time (JIT) logistics by many manufacturing clients [2] - SF Holding is expanding its service capabilities and product system to provide end-to-end comprehensive logistics services, including the development of air freight for large industrial products [2]

Core Viewpoint - Shanghai Shine-Link International Logistics Co., Ltd. reported a decline in key financial metrics for the first half of 2025, indicating challenges in revenue generation and profitability compared to the previous year [1][2]. Financial Performance - The company's operating revenue for the first half of 2025 was approximately ¥739.40 million, a decrease of 10.78% from ¥828.75 million in the same period last year [3][9]. - Total profit for the period was about ¥86.37 million, down 14.17% from ¥100.62 million year-on-year [3][9]. - Net profit attributable to shareholders was approximately ¥68.31 million, reflecting a 14.62% decline from ¥80.01 million in the previous year [3][9]. - The net cash flow from operating activities was ¥100.32 million, a significant drop of 27.24% compared to ¥137.88 million in the same period last year [3][9]. Key Financial Indicators - Basic earnings per share decreased to ¥0.1885, down 14.63% from ¥0.2208 [3][9]. - The weighted average return on net assets was 3.63%, a decrease of 0.62 percentage points from the previous year [3][9]. - The company's net assets attributable to shareholders at the end of the reporting period were approximately ¥1.81 billion, down 2.21% from ¥1.85 billion at the end of the previous year [3][9]. Business Overview - The company focuses on providing lean supply chain management services for international multinational enterprises, utilizing advanced information technology and IoT solutions [4][5]. - Key sectors served include high-tech electronics, medical devices, machinery components, imported food, and apparel [4][5]. Competitive Advantages - The company emphasizes a comprehensive service model that integrates various supply chain functions, enhancing operational efficiency and reducing costs for clients [4][5]. - A strong emphasis on information technology has led to the development of a "smart logistics" model, improving service delivery and customer satisfaction [4][5]. - The company has established long-term strategic partnerships with several Fortune 500 companies, ensuring a stable and high-quality customer base [4][5]. Operational Developments - The company has been expanding its national logistics network, with significant operations in major cities across China and a recent establishment of a wholly-owned subsidiary in Vietnam [6][7]. - Ongoing construction of logistics bases in Zhengzhou and Kunming is expected to enhance operational capacity and service delivery [7][8]. Recognition and Awards - The company has received multiple awards and recognitions for its contributions to the logistics industry, including being named a key enterprise in medical device logistics [6][8].

Core Viewpoint - The article discusses the rapid growth and production challenges faced by Pop Mart, particularly focusing on the LABUBU plush toy line, which has become a significant revenue driver for the company. The demand for LABUBU has surged, leading to a need for supply chain upgrades and increased production capacity to meet market needs [4][5][10]. Production Capacity and Demand - In August 2025, Pop Mart's monthly production capacity for plush products exceeded 30 million units, representing a more than 1000% increase compared to March 2025 [5]. - The production line for LABUBU toys is highly automated, with a daily capacity of 100,000 units expected by mid-2025, utilizing both advanced machinery and skilled labor [4][5]. Revenue Growth - In the first half of 2025, the revenue from THE MONSTERS, which includes LABUBU, reached 4.81 billion yuan, marking a 668% year-on-year increase and contributing 34.7% to the company's total revenue [8][10]. Supply Chain Upgrades - The surge in demand for LABUBU has prompted Pop Mart to reorganize its supply chain, with over 30% of the supply chain team being new hires in 2024 [11]. - The company is pushing for automation upgrades in its partner factories to improve efficiency and increase production capacity [12][13]. Challenges in Supply Chain Management - The rapid increase in orders has led to challenges in maintaining production efficiency, with a significant reliance on manual labor for the plush components [19]. - The average reorder cycle for Pop Mart was previously 4-5 months, but has been reduced to 1-1.5 months due to the need for faster response to market demands [20][21]. Strategic Directions - Pop Mart is expanding its production bases both domestically and internationally, with plans for six major production bases, four in China and two overseas [13]. - The company is focusing on enhancing cross-departmental collaboration and leveraging technology to improve supply chain efficiency [24][25]. Future Outlook - Pop Mart's leadership emphasizes the importance of adapting to market changes and maintaining a flexible supply chain to handle sudden spikes in demand [22][28]. - The company is actively seeking new partnerships and production capabilities to ensure it can meet future demand for popular products like LABUBU [28].

Core Viewpoint - SHEIN's core capability lies not in sales but in its supply chain integration ability and methodology [1] Group 1: Supply Chain Integration - Before 2015, flexible supply chains were attempted by various companies in China's apparel industry but failed to succeed [2] - SHEIN stands out as a unique player, focusing on supply chain upgrades over quick market strategies [5] - Supply chain transformation is a slow process, often yielding minimal visible results [3] Group 2: Market Demand and Digitalization - SHEIN's approach is driven by market demand, emphasizing the importance of connecting directly with supply chain sources [7] - The company has established a digital supply chain system that allows for real-time, precise responses to market needs [11] - This system addresses three core issues: efficient low-cost rapid product launches, maximizing sales opportunities through small batch production, and achieving low or zero inventory [12] Group 3: Empowering Factories - SHEIN's digital tools have transformed factories, enabling them to sell over 1 million units of a single product and significantly increase production value [16] - The company has helped factories reduce inventory rates to single digits, compared to the industry average of 30% [17] - SHEIN's initiatives have led to a significant transformation in traditional garment factories, enhancing their market competitiveness [18] Group 4: Technological Innovation - SHEIN's success is not merely due to its "small batch quick response" model but also its technological and product innovations [22] - The company has developed over 170 tools and devices, obtaining more than 25 patents, to enhance production efficiency and quality [28] - SHEIN's innovations have improved production efficiency by up to 80% in various processes [31] Group 5: Training and Standardization - SHEIN emphasizes talent development and standardized process management as key components of its supply chain technology transfer [33] - The company has conducted nearly 1,400 training sessions for suppliers, enhancing their operational efficiency [37] - Targeted training programs have addressed specific challenges faced by factories, leading to significant improvements in production capacity [40] Group 6: Green Innovation - SHEIN's supply chain reforms are rooted in green technology innovation, aiming for a more efficient and low-carbon manufacturing process [47] - The company has implemented water-saving technologies, saving approximately 1.13 million tons of water [49] - SHEIN's investments in renewable energy have resulted in significant reductions in carbon emissions, equivalent to the annual electricity consumption of thousands of households [53] Group 7: Long-term Impact - SHEIN's supply chain integration capabilities have led to systemic evolution across the entire industry, addressing core challenges of cost reduction and efficiency enhancement [56] - The company has launched initiatives to support the transformation of manufacturing enterprises, contributing to the emergence of new cross-border brands [58]

Core Insights - The German e-commerce market is experiencing a shift as Chinese platforms like Temu, SHEIN, and AliExpress penetrate the market with low prices and a wide range of products, challenging the dominance of local players like Amazon.de and Otto [11][12][13] Group 1: Market Dynamics - Kaufland.de has emerged as the third-largest e-commerce platform in Germany, with annual sales exceeding €1.5 billion and a continuous double-digit growth in GMV [3][6] - The integration of Kaufland's supermarket model with e-commerce has been recognized as a "German-style e-commerce template," showcasing a unique path for digital transformation in European retail [3][4] - The overall e-commerce growth in Germany is relatively slow, with local platforms experiencing only about 5.6% annual growth, while online retailers face a decline of approximately 1.2% [8][10] Group 2: Competitive Landscape - Chinese e-commerce players have gained significant traction in Germany, with Temu achieving a GMV of approximately $750 million in its first year, making it the 13th largest e-commerce platform [13] - The price sensitivity of German consumers has increased, with 35% preferring low-priced products and 68% comparing prices while shopping online, creating a favorable environment for Chinese platforms [13][14] - Kaufland has responded to the competitive pressure by launching the "Global Marketplace" initiative, allowing international sellers to join its platform, which now includes over 11,000 merchants [15][16] Group 3: Consumer Behavior - German consumers are increasingly open to using non-German sellers, with 15%-20% of young consumers trying cross-border e-commerce platforms, primarily valuing price and product variety [14] - The traditional shopping habits of German consumers, which emphasize quality assurance and after-sales service, are being challenged by the rapid growth of Chinese e-commerce platforms [12][17] - The shift in consumer preferences indicates a potential long-term change in the German e-commerce landscape, as exemplified by the experiences of consumers like Anna Müller, who appreciate the convenience and affordability of Chinese products [11][17]

Core Viewpoint - Yunhan Chip City has successfully registered for IPO, showcasing its growth and resilience in the electronic components distribution industry, driven by digital transformation and a robust supply chain ecosystem [1][3]. Group 1: Company Overview - Yunhan Chip City, established in 2008, has evolved from offline distribution to a leading B2B online marketplace, addressing inefficiencies in traditional trading models [2]. - The company’s B2B sales account for over 99% of its business, covering a wide range of products including semiconductors, passive components, and connectors [2]. Group 2: Financial Performance - From 2020 to 2022, the company’s revenue surged from 1.534 billion to 4.333 billion, achieving a compound annual growth rate (CAGR) of 68.08% [3]. - In 2023, the company reported revenue of 2.637 billion, reflecting a decline in line with global semiconductor market trends [3]. - The net profit attributable to the parent company for 2024 is projected to be 84.08 million, a year-on-year increase of 19.77% [3]. Group 3: Market Position and Recognition - Yunhan Chip City has climbed from 23rd to 15th in the ranking of domestic electronic component distributors in China from 2020 to 2022, solidifying its position in the online distribution sector [4]. Group 4: Supply Chain Innovation - The company addresses the "small order dilemma" in the electronic components market by leveraging digital solutions to meet the fragmented demand from small and medium enterprises [5][6]. - By integrating real-time inventory data from over 2,500 suppliers, Yunhan Chip City has created a resource pool with 27.99 million SKUs, enabling rapid order fulfillment [6]. Group 5: Industry Trends and Opportunities - The global electronic components market is projected to exceed one trillion dollars, with significant growth driven by advancements in 5G, AI, and IoT technologies [8]. - The semiconductor market alone is expected to reach 627.6 billion in 2024, with a year-on-year growth of 19.12% [8]. Group 6: Domestic Market Development - Yunhan Chip City has partnered with over 500 domestic component manufacturers, facilitating the localization of production for more than 4,000 manufacturing enterprises [9]. - The company plans to raise 522 million through its IPO to enhance its data center, component trading platform, and collaborative manufacturing services [9][10].

Core Viewpoint - SHEIN is not just providing orders to suppliers; its continuous technological innovation, represented by digitalization and "artisan tools," is the key to upgrading the entire industry chain [2][6]. Group 1: Technological Innovation and Supplier Empowerment - SHEIN has developed over 170 innovative tools and delivered nearly 6,000 pieces to suppliers, with these lean tools improving process efficiency by an average of 80% [5][6]. - In 2023, SHEIN announced an investment of 500 million yuan over five years to further empower suppliers and established a garment manufacturing innovation research center in Guangzhou [5][6]. - The company focuses on digital transformation across the entire supply chain, enhancing production efficiency and resource utilization while reducing inventory risks through a flexible supply chain model [8][19]. Group 2: Impact on Employment and Industry Transformation - SHEIN's initiatives have positively impacted over a million upstream and downstream employees in the supply chain, fostering mutual learning and self-updating among all roles [6][26]. - The transformation from "Made in China" to "Intelligent Manufacturing in China" is supported by SHEIN's efforts to create a sustainable fashion ecosystem through technological innovation [19][28]. Group 3: Training and Skill Development - SHEIN conducts extensive training programs for suppliers, with over 1,000 training sessions held in 2023 alone, covering various aspects of garment production and management [21][23]. - The company has established "dojos" for hands-on training in quality inspection, lean management, and sewing, ensuring that suppliers' employees can quickly adapt to new tools and processes [23][25]. Group 4: Infrastructure and Community Support - SHEIN has invested over 100 billion yuan in building smart logistics parks to enhance automation in sorting and order distribution [27]. - The company has also initiated community support projects, including upgrading facilities for suppliers' employees and their families, demonstrating a commitment to social responsibility [28][29]. Group 5: Competitive Positioning - Through deep empowerment and collaboration, SHEIN has positioned itself as a "chain master" in the garment industry, surpassing established brands like ZARA and H&M to become the third-largest fashion retailer globally [28][29].

Core Insights - The article highlights the transformative impact of AI on the B-end commercial ecosystem in China, particularly through the platform 1688, which is driving a shift from an "efficiency revolution" to an "intelligent leap" in manufacturing and supply chain management [1][11]. Group 1: AI Integration and Product Offerings - 1688 has launched several AI products and upgrades, including the "1688AI version" App and the free enterprise query tool "88查," aimed at enhancing user experience and operational efficiency for buyers and suppliers [2][3]. - The new "1688AI version" App integrates five core functions, including AI search and AI product design, to support the entire business process from opportunity discovery to product innovation [2][3]. - The introduction of free AI tools aims to lower barriers for both buyers and suppliers, facilitating improved supply chain efficiency and commercial viability [3]. Group 2: Case Studies and Real-World Applications - A case study of a foreign trade merchant illustrates how AI has enabled the creation of differentiated products, significantly increasing profit margins to 92% [4]. - Another example from a manufacturer in Yiwu shows how AI has streamlined the design process, allowing for rapid production of customized products and reducing minimum order quantities [5]. - The use of AI is transforming small businesses by enabling them to handle previously unmanageable small orders, thus stabilizing their operations and expanding market reach [6]. Group 3: Trends in Entrepreneurship - The trend of "light entrepreneurship" is on the rise, with 1688 reporting a 75% increase in buyers engaged in drop shipping, supported by AI's ability to facilitate quick responses to market demands [7]. - AI is enabling entrepreneurs to make data-driven decisions, reducing inventory risks and improving product development cycles [8]. - The platform's AI capabilities allow for personalized business opportunity predictions, empowering individuals to act as buyers and effectively manage their own businesses [8]. Group 4: Future Outlook and Strategic Goals - 1688 aims to enhance operational efficiency through AI, targeting a 50% to 100% increase in key performance indicators such as conversion and repurchase rates by 2025 [10][11]. - The platform's strategy emphasizes the importance of technology in reshaping supply chain efficiency, moving beyond traditional advertising to focus on supply chain technology services [11]. - With over 850 million AI calls made on the platform, 1688 is positioned as a key player in the "AI to B" commercial paradigm, aiming to democratize access to AI tools for small and medium enterprises [9][11].