在佳木斯市服务民营经济高质量发展暨企业家大会上，市青年电商联合会会长王博的发言铿锵有力，展 现了民营企业家敢闯敢拼、创新求变的精神风貌。 "三载耕耘路，春华结硕果。"谈及协会的发展历程，王博感慨万千。 佳木斯市青年电商联合会会长王博（佳木斯市委宣传部供图） 他说，三年来，联合会会员数量从无到有，已发展至近百家，成功孵化"礼遇佳木""新联优选"等多个品 牌，吸引22家互联网企业入驻园区，累计利税突破1.04亿元。"这些成绩的取得，离不开市委市政府优 化营商环境的政策支持，更离不开协会团队的共同努力。"政府的服务理念让我们如沐春风，视企业 为'掌上明珠'的态度，坚定了我们发展的信心。"王博说道。 在推广本地产品上，联合会依托佳木斯丰富的农林牧渔业资源，构建了线上线下融合的电商平台。王博 特意提到，通过整合六县四区及农高区的农副产品，协会成功将300多款名优特产推向全国市场。值得 一提的是，联合会率先引入数字VR技术，打造"一街两馆"——网红地下商业街、农副产品体验馆和城 市文创体验馆。 从传统商人到电商领军者，王博用20年诠释了新时代企业家的担当（佳木斯市委宣传部供图） "创新是发展的核心动力，政府的项目审批'绿 ...

Core Viewpoint - Baozun E-commerce (09991) reported a total revenue of 9.478 billion yuan for the fiscal year 2024, representing a year-on-year growth of 6.07%, while the net profit attributable to shareholders was a loss of 185 million yuan, an improvement from a loss of 278 million yuan in the previous year [2] Financial Performance - Total revenue for 2024 was 9.478 billion yuan, up 6.07% year-on-year [2] - Net profit attributable to shareholders was a loss of 185 million yuan, compared to a loss of 278 million yuan in the same period last year [2] - Operating cash flow net amount was 101 million yuan, down 77.41% year-on-year [21] - Basic earnings per share were -1.03 yuan, with a weighted average return on equity of -4.57%, an increase of 2.19 percentage points from the previous year [2][17] Valuation Metrics - As of April 23, the price-to-book ratio (TTM) was approximately 0.25 times, and the price-to-sales ratio (TTM) was about 0.11 times [2] Business Model - Baozun E-commerce primarily provides brand e-commerce solutions, including IT solutions, online store operations, digital marketing, customer service, and warehousing and fulfillment [8] - The company operates under three business models: distribution model, service fee model, and consignment model, offering omnichannel solutions across various platforms [8] Cash Flow and Investment Activities - Cash flow from financing activities was -19.737 million yuan, a decrease of 11.704 million yuan year-on-year [21] - Cash flow from investment activities was -818 million yuan, compared to -340 million yuan in the previous year [21] Asset and Liability Changes - As of the end of 2024, cash and cash equivalents decreased by 30.1%, and right-of-use assets decreased by 28.29% [29] - Prepayments increased by 25.18%, while inventory rose by 6.92% [29] - Lease liabilities decreased by 25.19%, while short-term borrowings increased by 9.43% [32] Liquidity Ratios - The current ratio was 1.93, and the quick ratio was 1.63 as of 2024 [38]

齐鲁晚报·齐鲁壹点 王赟 "内外贸一体化"是今春一股劲风，一场物的大迁徙由此生发，随之而动的还有人的大迁徙，平台的大迁 徙，破局势在必得。 一吨吨大姜，数千名小二，AI小语种翻译，私域电商发力……都是这段时间以来许多中小外贸企业和 平台共同经历的一个缩影。 大润发的"大姜"火了，鳕鱼片在路上 "昨天卖断货了，紧急补的。"4月22日，大润发华北区历下店超市一楼，齐鲁晚报·齐鲁壹点记者看到店 总李增淇正在"网红姜"堆边忙碌，单位上挂着"外贸优品中华行"的牌子，生姜售价为4.98元/500g。 4月15日，大润发超市上架了首款"外贸生姜"，这是其启动"外贸优品进商超"专项扶持计划以来正式上 架的首款生鲜商品。该款生姜来自青岛力泰农产品有限公司，该公司是一家专注生姜出口的企业，其产 品主要销往美国及东南亚市场。近期，受国际市场环境影响，面临库存积压的难题。 "除了生姜外，我们已对接多家出口转内销企业，一款鳕鱼片近期上架，也是山东的供应商。"4月22 日，大润发华北区总经理朱立新在接受齐鲁晚报·齐鲁壹点记者采访时表示，目前"外贸优品中国行"计 划正在稳步推进， 大润发官网已增设中国外贸企业绿色报名通道，并成立专项小组委 ...

一、行情回顾 沪指全天震荡反弹，深成指、创业板指高开回落。大消费板块集体走高，体育、零售、食品等多个分支大涨，金陵体育、舒华体育、南宁百货、国芳集团、 绝味食品、双塔食品等多股涨停。海南本地股爆发，海马汽车、海汽集团、海南椰岛等封板。黄金股再度大涨，华钰矿业、湖南黄金涨停。个股涨多跌少， 沪深京三市超4500股飘红，今日成交1.31万亿。截止收盘沪指涨0.76%，深成指涨0.51%，创业板指涨0.34%。 二、当日热点 1、体育 早盘体育板块爆发，康力源、金陵体育、久祺股份悉数20cm涨停，新华都、浙江永强、舒华体育等集体涨停。 海南板块今日再度爆发，海汽集团、海南发展4天2板，双成药业3天2板，海德股份、京粮控股、海马汽车等集体上板。 | | | 最新价 = | 涨跌幅 ◆ | 涨停时间 = | 将于承 | 流通市值 ◆ | | --- | --- | --- | --- | --- | --- | --- | | 泰慕士 001234.SZ | 3天2板 | 21.12 | +10.00% | 09:25:00 | 2.49% | 19.11亿 | | 英派斯 002899.SZ | 3天2板 | 21. ...

Core Insights - The report titled "Douyin Live Big Scene Business Strategy" focuses on the operational strategies for Douyin live streaming, aiming to provide guidance for merchants to enhance their sales performance through live streaming events [1] Group 1: Importance of Live Streaming Events - Local merchants are increasingly recognizing the significance of large-scale live streaming events, particularly during holidays and promotional periods, which can lead to substantial increases in Gross Merchandise Value (GMV) [6][7] - The GMV growth rates during key periods are notable, with increases of 131% in the catering industry, 28.9% in the travel industry, and 142% in the comprehensive industry during holidays [8] - Large-scale live streaming can effectively elevate daily GMV levels, with reported increases of 260% and 840% in GMV following such events [10] Group 2: Strategies for Successful Live Streaming - Key factors for successful live streaming include the integration of people, products, and venues, as well as frequency and performance marketing [13][14] - The strategy for "people" involves leveraging three domains to acquire traffic, with a focus on advertising for higher certainty in traffic acquisition [20] - The "product" strategy varies by industry, requiring careful consideration of discount levels, product quantities, and pricing during live events [14][21] - The "venue" aspect focuses on enhancing click-through rates through effective use of hosts, staging, themes, and backgrounds tailored to different industries [14][22] Group 3: Marketing and Performance Integration - Integrating marketing efforts can help achieve the goals of large-scale live streaming, with recommendations for budget allocation and collaboration with influencers [14][23] - Different industries exhibit variations in product combinations and timing strategies, which are crucial for optimizing live streaming performance [14][24] - The report provides specific operational guidelines for various industries, including product grouping strategies and scene creation methods for live streaming [1][26]

Financial Data and Key Metrics Changes - Baozun Group achieved an 8% year-over-year revenue growth in Q4 2024, with total net revenues reaching RMB 3 billion [20] - E-commerce revenue grew by 6% to RMB 2.5 billion, while brand management revenue increased by 17% to RMB 535 million [20] - Adjusted income from operations totaled RMB 103 million, a 37% improvement year-over-year, with adjusted operating profit from the e-commerce segment improving by 16% [23] - Non-GAAP net income attributable to shareholders for the quarter was RMB 46 million, up from RMB 29 million in the same period last year [24] Business Line Data and Key Metrics Changes - E-commerce services revenue increased by 9% year-over-year to RMB 1.9 billion, driven by a 16% increase in online store operations revenue and a 15% increase in digital marketing and IT solutions [21] - VC product sales revenue decreased by 4% year-over-year to RMB 572 million, primarily due to weak performance in the appliance category [21] - BBM product sales totaled RMB 535 million for the quarter, reflecting a 17% year-over-year growth, mainly driven by strong performance from the Gap brand [21] Market Data and Key Metrics Changes - The e-commerce division resumed annual top-line growth after two years of contraction, achieving a 6% increase [27] - Douyin maintained triple-digit growth during the quarter, contributing 6% of e-commerce revenue [30] - The company expanded its brand portfolio to over 490 brands, up from approximately 450 a year ago [28] Company Strategy and Development Direction - The company is focused on enhancing creative content capabilities and leveraging technology to help brand partners capitalize on platform interconnectivity and data intelligence [14] - A strategic transformation is underway, with a focus on profitability, sustainable growth, and technology as a cornerstone of success [18] - The company plans to open approximately 50 new stores in 2025, prioritizing high-traffic locations to maximize sales potential [38] Management's Comments on Operating Environment and Future Outlook - Management observed positive consumer sentiment and expects higher momentum in consumption sentiment in the future, supported by government subsidies [46] - The company maintains a high expectation for GMV growth, revenue, and operational profits in 2025, despite varying strategies among brand partners [59] - Management emphasized the importance of AI technology in driving efficiency and enhancing both top-line and bottom-line growth [68] Other Important Information - The company successfully completed its share repurchase program, repurchasing approximately 5.3 million ADS for $14.7 million, representing about 9% of total shares outstanding at the beginning of the program [24][25] - The company has strengthened its senior management team to drive the next phase of growth [17] Q&A Session Summary Question: Has management observed any improvement in consumer consumption sentiment over the past two months? - Management noted decent growth in revenue during recent promotional activities and observed rapid growth in categories like home appliances and smartphones, expecting higher momentum in consumption sentiment [45][46] Question: Can management update on Gap China's same store sales growth and performance of other brands under BBN? - Same store sales for Gap showed low single-digit growth in Q4 2024, with Hunter experiencing over 100% same store growth [50][51] Question: What are the key initiatives and top priorities for the company? - Management's focus includes optimizing team structure, enhancing financial management, and driving same store growth through omni-channel initiatives and AI technology [47][48] Question: How should we expect the potential influence of changing competitive landscape in e-commerce? - Management highlighted that GMV growth on Douyin is higher than on other platforms, and they plan to expand services and drive existing partners onto Douyin [56][57] Question: What is Baozun's strategy regarding JD.com and AI tools? - The company plans to help brand partners move their business onto JD.com, especially in fashion apparel, and is leveraging AI to drive efficiency and enhance top-line growth [63][66]

Core Insights - The consumer market is undergoing a "track change," with consumers increasingly valuing lifestyle, values, and sustainability over mere product functionality [1][2] - Female consumers are emerging as a significant force in the market, demonstrating a clear understanding of their desired lifestyles [2][5] - Brands must adapt to these changing consumer preferences by leveraging AI technology to enhance engagement and understanding [2][6] Consumer Behavior Trends - Z Generation consumers prioritize emotional symbols, health labels, and instant delivery in their purchasing decisions, indicating a shift towards a more diversified definition of value [4] - Factors such as emotional value, health concepts, and situational adaptability are becoming crucial in consumer decision-making [4] Brand Opportunities and Challenges - The 38 promotion event serves as a critical starting point for brands to experiment with new growth strategies, particularly in the context of female consumer engagement [5][6] - Brands that can effectively utilize new technologies to capture consumer needs will gain a competitive edge during market reshuffling [5][6] AI's Role in Consumer Engagement - AI technology is redefining growth logic by enabling brands to identify consumer pain points and accelerate the introduction of new products [6][9] - Successful case studies, such as the home brand Zhi Huashi, demonstrate how AI can enhance marketing strategies and significantly boost sales [9] Case Studies of Successful AI Implementation - Zhi Huashi utilized AI to identify key consumer segments, resulting in a 600% increase in GMV during the pre-sale period [9] - Kailas leveraged AI to expand its target audience and enhance brand storytelling, achieving over 100% GMV growth during the same period [10] - OPPO and Proya effectively used AI to convert transient traffic into loyal customers, with OPPO's new product achieving over 100 million in GMV in its first week [11][12] Future of Brand-Consumer Relationships - AI is transforming the relationship between brands and consumers, allowing for more personalized and meaningful interactions [14][15] - The evolution from resource competition to intelligence competition signifies a shift in market dynamics, emphasizing the importance of understanding consumer needs through AI [15]

深圳市三态电子商务股份有限公司 首次公开发行股票并在创业板上市 发行结果公告 本次发行最终采用网下向符合条件的投资者询价配售（以下简称"网下发 行"）及网上向持有深圳市场非限售 A 股股份和非限售存托凭证市值的社会公 众投资者定价发行（以下简称"网上发行"）相结合的方式进行。 战略配售回拨后、网上网下回拨机制启动前，网下初始发行数量为 9,595.30 万股，约占本次发行数量的 81.00%；网上初始发行数量为 2,250.70 万 1 保荐人（主承销商）：中信证券股份有限公司 深圳市三态电子商务股份有限公司（以下简称"三态股份"或"发行人"） 首次公开发行 11,846.00 万股人民币普通股（A 股）（以下简称"本次发行"） 并在创业板上市的申请已经深圳证券交易所（以下简称"深交所"）创业板上 市委员会审议通过，并已经中国证券监督管理委员会（以下简称"中国证监会"） 同意注册（证监许可〔2023〕1201 号）。本次发行的保荐人（主承销商）为中 信证券股份有限公司（以下简称"中信证券"或"保荐人（主承销商）"）。 发行人的股票简称为"三态股份"，股票代码为"301558"。 发行人和保荐人（主承销商）协商 ...

保荐人（主承销商）：中信证券股份有限公司 特别提示 深圳市三态电子商务股份有限公司（以下简称"三态股份"或"发行人"） 首次公开发行 11,846.00 万股人民币普通股（A 股）（以下简称"本次发行"） 并在创业板上市的申请已经深圳证券交易所（以下简称"深交所"）创业板上市 委员会审议通过，并已经中国证券监督管理委员会（以下简称"中国证监会"） 同意注册（证监许可〔2023〕1201 号）。 发行人与保荐人（主承销商）中信证券股份有限公司（以下简称"中信证券" 或"保荐人（主承销商）"）协商确定本次发行股份数量为 11,846.00 万股，本 次发行价格为 7.33 元/股。本次发行的发行价格未超过剔除最高报价后网下投资 者报价的中位数和加权平均数以及剔除最高报价后通过公开募集方式设立的证 券投资基金（以下简称"公募基金"）、全国社会保障基金（以下简称"社保基 金"）、基本养老保险基金（以下简称"养老金"）、企业年金基金和职业年金 基金（以下简称"年金基金"）、符合《保险资金运用管理办法》等规定的保险 资金（以下简称"保险资金"）和合格境外投资者资金报价中位数、加权平均数 的孰低值，故保荐人相关子公司无需参 ...

深圳市三态电子商务股份有限公司 首次公开发行股票并在创业板上市网上路演公告 保荐人（主承销商）：中信证券股份有限公司 始战略配售数量后发行数量的 20.00%。最终网下、网上发行合计数量为本次发 行总数量扣除最终战略配售数量，网上及网下最终发行数量将根据回拨情况确定。 最终网下、网上发行数量及战略配售情况将在 2023 年 9 月 21 日（T+2 日）刊登 的《深圳市三态电子商务股份有限公司首次公开发行股票并在创业板上市网下发 行初步配售结果公告》中予以明确。 深圳市三态电子商务股份有限公司（以下简称"发行人"）首次公开发行人 民币普通股（A 股）（以下简称"本次发行"）的申请已经深圳证券交易所创业 板上市委员会审议通过，并已获中国证券监督管理委员会（以下简称"中国证监 会"）同意注册（证监许可〔2023〕1201 号）。 本次发行采用向参与战略配售的投资者定向配售（以下简称"战略配售"） （如有）、网下向符合条件的投资者询价配售（以下简称"网下发行"）、网上 向持有深圳市场非限售 A 股股份和非限售存托凭证市值的社会公众投资者定价 发行（以下简称"网上发行"）相结合的方式进行。 发行人和保荐人（主承销商） ...