Core Viewpoint - The company, Huakai Yibai, is experiencing growth in its cross-border e-commerce business, benefiting from the depreciation of the RMB and leveraging technologies such as AIGC and VR to enhance operational efficiency and service offerings [2][3]. Group 1: Company Overview - Huakai Yibai Technology Co., Ltd. was established on February 23, 2009, and listed on January 20, 2017. The company focuses on spatial environment art design and provides comprehensive exhibition services for large exhibition halls, with a primary revenue source from cross-border e-commerce [7]. - As of June 30, 2025, the company reported a revenue of 4.538 billion yuan, representing a year-on-year growth of 28.97%, while the net profit attributable to shareholders decreased by 72.69% to 36.74 million yuan [7]. Group 2: Business Segments - The company's revenue composition includes 92.16% from cross-border e-commerce, 7.71% from comprehensive cross-border e-commerce services, and 0.18% from other business activities [7]. - The company is actively involved in multiple platforms and regions for its cross-border e-commerce exports, primarily targeting Europe and North America [2]. Group 3: Technological Integration - The company utilizes self-developed systems incorporating AIGC technology to automate product copy generation, significantly reducing labor costs and improving operational efficiency [2]. - Huakai Yibai's VR technology is applied in exhibition setups, focusing on environmentally friendly design and exploring VR content creation and interactive platforms [2]. Group 4: Market Performance - On October 15, the stock price of Huakai Yibai increased by 2.28%, with a trading volume of 67.5634 million yuan and a market capitalization of 4.359 billion yuan [1]. - The average trading cost of the stock is 11.41 yuan, with the current price near a support level of 10.63 yuan, indicating potential for a rebound if this support holds [6].

Core Viewpoint - The Shanghai Free Trade Zone (FTZ) is expanding its innovative institutional framework by establishing additional "8+1" linked innovation zones, aiming to enhance the effectiveness of institutional innovation and promote economic development across various sectors [1][2]. Group 1: Expansion of Innovation Zones - The Shanghai Municipal Development and Reform Commission announced the establishment of eight key areas and five national economic and technological development zones as part of the second batch of linked innovation zones [1]. - The total area covered by the first batch of "6+1" linked innovation zones is approximately 193 square kilometers, including six administrative districts and six comprehensive bonded zones [2]. Group 2: Reform Initiatives - The linked innovation zones will implement two lists of reform tasks: a replication and promotion list with 57 items and a self-reform list with 29 items tailored to specific zones [1][4]. - The focus is on accelerating the promotion of institutional innovation results and supporting the development of distinctive industries in each zone [3]. Group 3: Areas of Focus for Reforms - The replication and promotion list covers six major areas: investment, trade, finance, cross-border data, scientific innovation, and talent [5]. - Specific initiatives include allowing foreign investment institutions to apply for domestic financial licenses and supporting the establishment of wholly foreign-owned hospitals [5]. - In the scientific innovation sector, the promotion of a "package system" for fiscal research project funding is highlighted, allowing greater autonomy in the distribution of technology transfer revenue [6]. Group 4: Targeted Reforms in Specific Zones - Each linked innovation zone will have targeted reforms; for example, the Hongqiao International Central Business District will focus on cross-border e-commerce, while the Shanghai International Tourism Resort will aim to create new tourism consumption scenarios [7]. - The Longjing innovation zone will emphasize the development of platform economies and the transformation of breakthrough technological achievements in electronic materials [7]. Group 5: Mechanisms for Implementation and Evaluation - A mechanism for regular replication and promotion will be established, with differentiated annual assessments for the first and second batches of linked innovation zones [8]. - The aim is to ensure that reform policies are effectively implemented and to promote successful experiences and typical cases across the city [8].

中国经济导报、中国发展网讯 "义乌市场完成新一轮迭代升级，开启从传统贸易模式向数字贸易生态跃 升的新进程，并朝着打造数字化、国际化、现代化、低碳化的全球贸易标杆地破浪前行。"10月14日， 浙江义乌第六代市场核心标志项目——全球数贸中心正式开业运营。 建强"3"个数贸平台。做强Chinagoods平台，为全球贸易商提供"关汇税、运仓融"一站式贸易服务；开 发专注于小商品贸易垂直领域的"世界义乌"商贸大模型，推出小商AI设计、小商AI视创、AI视频翻译 等13项AI应用；通过贸易数据归集、算法学习训练，迭代商贸大模型，更好为广大中小微主体降本、 增效、赋能。做大数字化供应链平台，全球布局国内仓、海外仓国际物流专线"两仓一线"交付体系，放 大"世界货、义乌拼、发全球"优势。做优"义支付"平台，积极拓展海外收付能力，实现支付全球、收款 无忧。这三个平台相互协同，Chinagoods平台提供数字化的贸易服务，数字化供应链平台保障货物的高 效流通，义支付平台则解决了支付结算问题，共同为数字贸易的发展提供了全方位的支持。 对历史最好的致敬，是书写新的历史；对未来最好的把握，是开创更加美好的未来。可以想象，数字化 解锁义乌 ...

Core Insights - SHEIN is significantly enhancing its domestic supply chain infrastructure by opening new logistics centers in Zhaoqing and Jiangmen, which are crucial parts of its warehousing system [1] - The Zhaoqing Xiyin Bay Area Smart Industrial Park, completed earlier this year, is a key supply chain project that supports SHEIN's cross-border e-commerce operations and stimulates local economic growth [1] - The Zhaoqing Xiyin Bay Area West Smart Industrial Park, with a total investment of 3.5 billion yuan, is under construction and aims to integrate smart sorting centers, order distribution centers, and smart manufacturing facilities [1] Investment and Economic Impact - The Zhaoqing Xiyin Bay Area West Smart Industrial Park is expected to generate an annual service trade export value of 3.5 billion yuan and create 20,000 to 30,000 jobs upon reaching full capacity [1] - The project is also designed to have an installed capacity exceeding 24 MW, which is projected to reduce carbon emissions by over 10,000 tons annually [1] Sustainability Initiatives - SHEIN is advancing green logistics by launching a large-scale operation of new energy vehicles at the Zhaoqing Xiyin Bay Area Smart Industrial Park [1]

人民日报记者 欧阳洁 新疆充分发挥丝绸之路经济带核心区优势，着力打造亚欧黄金通道和向西开放桥头堡，以高水平开 放服务构建新发展格局。新疆外贸实现高速增长，得益于高水平开放平台建设、口岸营商环境持续改 善、国际物流大通道高效畅通。未来随着制度环境进一步优化、与周边国家互联互通加深，内陆腹地将 在高水平开放格局中发挥更加重要的作用。 ——编者 在新疆霍尔果斯公路口岸集中查验场，上午10点，闸口前的车道已是一片繁忙，有装载着80米长风 机叶片的运输车，有装满水果蔬菜的冷链运输车，数量最多的是即将出口中亚国家的新能源汽车，蜂 蜜、水果、小麦等中亚农产品也从这里进入中国市场； 在乌鲁木齐国际陆港区中欧班列集结中心，来自广州、浙江义乌等地的服装百货、机械设备、汽车 零配件正在集结装运，经海关检查施封后，将搭载新疆本地班列品牌"天山号"跨越山海，出口中亚国 家； ………… 这些充满生机活力的场景，正是新疆坚定不移扩大高水平对外开放的生动写照。 习近平总书记强调："加快推进丝绸之路经济带核心区建设，在促进国内国际双循环中发挥更大作 用。" 从内陆腹地到开放前沿，近年来，新疆充分发挥丝绸之路经济带核心区优势，着力打造亚欧黄金通 ...

10月1日，海南海口，顾客在cdf海口国际免税城选购商品。国庆中秋假期，海南离岛免税市场迎来 购物热潮。 中新网记者 骆云飞 摄 海南外贸连续5年增长 海关：封关促开放扩空间 中新网海口10月15日电 (记者 王子谦)15日于海口举行的中外记者见面会上，海口海关党委委员、副关 长，新闻发言人田涛表示，封关后，海南自贸港将实施更加优惠的货物"零关税"政策、更加宽松的贸易 管制措施、更加便利的通行举措、更加高效精准的监管模式，进一步激发市场主体活力，促进对外贸易 增长。 2020年《海南自由贸易港建设总体方案》发布以来，一系列开放政策持续释放活力，海南外贸连续5年 增长，进出口值从2020年的936.3亿元，增长到2024年的2778.9亿元，年均增长31.3%，外贸依存度提升 至35%。 回答记者提问时，田涛说，高水平开放政策落地见效。截至今年9月底，海南自贸港"零关税"三张清单 扩容增效，享惠企业565家，累计进口货值270.6亿元，减免税款50.9亿元；加工增值免关税政策扩大至 全岛实施，试点企业达129家，累计内销货值110.8亿元，免征关税8.6亿元；暂时进境维修政策下已维修 飞机100架，暂时出境修理 ...

10月15日，跨境通盘中上涨2.04%，截至10:26，报5.01元/股，成交2.09亿元，换手率2.73%，总市值 78.06亿元。 跨境通所属申万行业为：商贸零售-互联网电商-跨境电商。所属概念板块包括：电子商务、跨境电商、 网红经济、小红书概念、金融科技等。 截至9月19日，跨境通股东户数24.09万，较上期减少3.77%；人均流通股6428股，较上期增加3.92%。 2025年1月-6月，跨境通实现营业收入26.31亿元，同比减少9.88%；归母净利润-588.07万元，同比增长 48.34%。 分红方面，跨境通A股上市后累计派现2.91亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年6月30日，跨境通十大流通股东中，香港中央结算有限公司位居第四大流通 股东，持股1068.76万股，为新进股东。 责任编辑：小浪快报 资金流向方面，主力资金净流入592.04万元，特大单买入1401.60万元，占比6.71%，卖出713.87万元， 占比3.42%；大单买入2444.89万元，占比11.70%，卖出2540.58万元，占比12.16%。 跨境通今年以来股价涨30.47%，近5个交易日涨0. ...

今年前8个月，新疆外贸进出口总值3563.1亿元，增长25.4%，高于全国增速21.9个百分点。 新疆充分发挥丝绸之路经济带核心区优势，着力打造亚欧黄金通道和向西开放桥头堡，以高水平开放服 务构建新发展格局。新疆外贸实现高速增长，得益于高水平开放平台建设、口岸营商环境持续改善、国 际物流大通道高效畅通。未来随着制度环境进一步优化、与周边国家互联互通加深，内陆腹地将在高水 平开放格局中发挥更加重要的作用。 在新疆霍尔果斯公路口岸集中查验场，上午10点，闸口前的车道已是一片繁忙。有装载着80米长风机叶 片的运输车，有装满水果蔬菜的冷链运输车，数量最多的是即将出口中亚国家的新能源汽车，蜂蜜、水 果、小麦等中亚农产品也从这里进入中国市场； 在乌鲁木齐国际陆港区中欧班列集结中心，来自广州、浙江义乌等地的服装百货、机械设备、汽车零配 件正在集结装运，经海关检查施封后，将搭载新疆本地班列品牌"天山号"跨越山海，出口中亚国家； ………… 这些充满生机活力的场景，正是新疆坚定不移扩大高水平对外开放的生动写照。 习近平总书记强调："加快推进丝绸之路经济带核心区建设，在促进国内国际双循环中发挥更大作用。" 从内陆腹地到开放前沿，近 ...

Group 1 - Ele.me is piloting the cancellation of overtime deductions for delivery riders, replacing it with a new service points system to enhance rider experience and operational capacity [1] - The pilot program is currently being tested in cities such as Nantong, Changzhou, Jieyang, and Jingdezhen, with plans for broader implementation in October [1] Group 2 - J&T Express reported a total parcel volume of 7.68 billion for Q3 2025, marking a year-on-year increase of 23.1% [2] - The Southeast Asian market saw a significant growth of 78.7%, while the Chinese market grew by 10.4%, indicating a strong performance in both regions [2] - The management highlighted that the increasing sensitivity of e-commerce platforms to fulfillment costs is driving market changes, with smaller logistics providers likely to exit [2] Group 3 - AliExpress announced the schedule for its overseas "Double 11" and "Black Friday" events, starting from November 8 and running until December 3 [3] - The platform aims to focus on commission incentives, overseas hosting, and brand expansion, offering up to 7% commission for quality third-party sellers [3] - This strategy is a response to competitive pressures from TikTok Shop and Temu, emphasizing supply chain and operational advantages [3] Group 4 - JD.com is collaborating with CATL and GAC Group to launch a "National Good Car" during the Double 11 shopping festival, focusing on user insights and exclusive sales [4] - The partnership delineates roles clearly: GAC for manufacturing, CATL for battery technology, and JD.com for sales and consumer insights [4] - The effectiveness of this online exclusive sales model remains uncertain due to the complexity of automotive purchasing decisions and competitive industry dynamics [4]

Group 1 - The overseas Double 11 event initiated by AliExpress will start its pre-sale on November 8, with the main sales period from November 11 to 19, followed by the Black Friday cycle until December 3, creating a month-long business growth opportunity [1] - AliExpress emphasizes the importance of high-quality merchants who provide good service, stable fulfillment, and strong brands, indicating that these merchants will experience significant business growth [1] - The platform is promoting a dual-track model of "POP + full management," focusing on differentiated product offerings and utilizing AI tools for rapid growth [1] Group 2 - AliExpress has introduced a "commission incentive plan" for high-rated POP merchants, allowing them to earn up to 7% of sales as commission, with new stores eligible for 100% commission [2] - The platform provides AI diagnostic tools to help merchants achieve sales targets, offering a 10% reduction in GMV targets for those who complete specific actions [2] - The "overseas management" model has expanded to over 30 countries, allowing merchants to stock products in local warehouses, significantly reducing local delivery times by 50% [2] Group 3 - The focus for this Double 11 includes brand expansion, IP, and quality product offerings, with AliExpress aiming to help brand merchants achieve higher sales at half the cost compared to Amazon [3]