"八载同行，德勤与进博会一同成长，见证了进博会这棵全球企业的'幸运草'不断茁壮成长。参与进博 会的企业越来越多了，今年有155个国家、地区和国际组织参与，4108家境外企业参展，这体现了国际 社会对中国经济的坚定信心。"日前，德勤中国主席蒋颖在接受《中国经营报》记者专访时，如是阐述 了德勤作为进博会"老朋友"的深度参与和感受。 "回溯2018年，德勤以'勤启数智'为主题参加第一届进博会，向大众展示由德勤研发的数十款在人工智 能、云计算、大数据分析等领域最前沿的解决方案。"蒋颖回忆道。 上述传统一直延续至今，德勤中国每次都会在进博会带来首发报告和新理念，并发表许多专业的洞察和 见解。今年进博会，德勤中国以"众行致远"为主题参展，并展示了一系列创新解决方案。比如，在进博 会期间举办的"可持续消费论坛——科技与可持续赋能高品质消费新征程"论坛上，德勤首发《2025德勤 全球⼈⼯智能在消费品及零售⾏业的应⽤趋势》报告。 （德勤中国主席蒋颖。受访者供图） 中经记者 夏治斌 石英婧 上海报道 回顾参展历程，蒋颖分享了公司在服务理念上的升级。她告诉记者："八年来，德勤的参展主题不断拓 展，从中企出海到跨国企业引进来，从可持 ...

Group 1: Core Insights - The Peru Pavilion at the 8th China International Import Expo (CIIE) prominently featured a model of the Qianhai Port, symbolizing its significance as a new "national business card" for Peru [1] - The Qianhai Port has facilitated faster shipping of Peruvian goods to China, exemplifying the synergy between the CIIE and the Belt and Road Initiative, enhancing trade efficiency and benefiting both Peru and the broader Latin American region [2][4] - The CIIE has seen participation from 123 countries involved in the Belt and Road Initiative, marking a 23.1% increase in exhibitors, highlighting its role as a platform for mutual cooperation and shared opportunities [2] Group 2: Trade Facilitation and Environment - The CIIE has improved the ease of access for international exhibitors, with New Zealand's dairy company noting the benefits of China's optimized visa policies for foreign participants [4] - China's trade facilitation measures and high-level openness have led to significant progress in trade and investment, with 23 free trade agreements signed and an expansion of visa-free access for foreign nationals [4][5] - The CIIE serves as a bridge for mutual benefit and learning, allowing global enterprises to share innovations and best practices [2][3] Group 3: Global Cooperation and Development - The CIIE has become a platform for developing countries to showcase their products, with participation from 49 countries and around 500 enterprises, emphasizing its role in supporting local community development and sustainable growth [7] - China's commitment to providing international public goods and supporting the modernization of developing countries is evident through initiatives like the Global Development Initiative [6][7] - The CIIE exemplifies the transformative power of trade in creating opportunities, particularly for developing nations, reinforcing the importance of open cooperation for global prosperity [7]

11月6日，静安区"全球服务商联合展区"在第八届中国国际进口博览会开馆。展区内汇聚了全球超过50家顶尖服务机构，集中展示法律、财税、人力资 源、知识产权等专业服务，打造标准化的"出海服务包"，企业可根据不同出海阶段，精准匹配"投前、投中、投后"各环节所需服务。 现场还设置了静安国际会客厅"一站式"出海服务中心体验区，企业可现场进行项目对接与深度咨询，并领取《出海服务手册》及系列白皮书，系统了解 从市场选择、风险评估到合规运营的全链路解决方案。此外，现场还提供"出海服务券"政策和境外投资项目许可咨询。 "出海服务券"政策激活服务业发展动能 静安区率先在全市推出"静安专业服务券"，通过"政府引导+企业申领"模式，支持区内专业服务机构为本土企业提供法律、财税、知识产权、市场推广 等高端服务。 今年下半年，为响应上海国际化发展战略，静安区推出了"出海服务券"，通过四大举措全面激活服务生态：一是支持企业出海采购服务，对企业购买国 际财税、法律合规、市场拓展、跨境并购等专业服务的，给予最高1000万元的补贴；二是支持本土专业服务机构"走出去"，对在海外设立分支机构并提供企 业开办、市场开拓、专业咨询等"三开一招一咨询"服 ...

Market Overview - The professional services sector experienced a decline of 1.29% on November 7, with Ancar Detection leading the drop [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Notable gainers in the professional services sector included: - Lansheng Co., Ltd. (600826) with a closing price of 11.54, up 3.04% [1] - Electric Science Institute (300215) with a closing price of 6.60, up 1.07% [1] - Major decliners included: - Ancar Detection (300572) with a closing price of 30.18, down 14.02% [2] - Shicun Detection (301228) with a closing price of 26.24, down 6.69% [2] Trading Volume and Capital Flow - The professional services sector saw a net outflow of 226 million yuan from institutional investors, while retail investors had a net inflow of 140 million yuan [2] - The total trading volume for Lansheng Co., Ltd. was 188,100 shares, with a transaction value of 216 million yuan [1] - Ancar Detection had a trading volume of 235,200 shares, with a transaction value of 746 million yuan [2] Capital Inflow Analysis - Lansheng Co., Ltd. had a net inflow of 36.58 million yuan from institutional investors, while retail investors showed a net outflow of 24.27 million yuan [3] - Electric Science Institute experienced a net inflow of 5.29 million yuan from retail investors, despite a net outflow of 12.23 million yuan from institutional investors [3]

Core Insights - The article discusses the resilience of industrial and supply chains in the context of global changes and technological advancements, highlighting Pudong's role as a key hub for global resource linkage and enterprise globalization [1][2]. Group 1: Global Supply Chain Trends - The global supply chain is undergoing profound restructuring due to geopolitical conflicts, technological changes, and market demand adjustments, leading to a trend of "local layout + global layout" [2]. - Pudong serves as a significant observation and practice ground for this trend, exemplified by ABB's investment of $150 million in a super factory that accounts for 40% of its global capacity [2][3]. - The shift from "In China for Global" to "China for China, Global for Global" reflects a deeper transformation in foreign enterprises, emphasizing local service and innovation [3]. Group 2: Domestic Enterprises Going Global - Chinese enterprises are transitioning from simple exports to a comprehensive global strategy that includes complete industrial chains, technology standards, and brand value [4]. - The revenue from services to Chinese enterprises by Ernst & Young surpassed that of multinational companies for the first time, indicating a strong trend of Chinese companies expanding globally [5]. - The focus on brand value and the establishment of a strong presence in international markets is crucial, as demonstrated by Westingarea's expansion in the U.S. [5]. Group 3: Support and Infrastructure - Pudong provides institutional and infrastructural support for domestic enterprises going global, with the free trade zone facilitating compliance with international rules [6]. - The restructuring of global supply chains presents both challenges and opportunities for collaboration and innovation between Chinese and international companies [6].

Core Insights - The professional services sector saw a rise of 0.53% on November 6, with Xigao Hospital leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Professional Services Sector Performance - Xigao Hospital (688334) closed at 22.12, up 4.49% with a trading volume of 134,600 shares and a transaction value of 298 million [1] - Shicun Testing (301228) closed at 28.12, up 3.73% with a trading volume of 42,800 shares and a transaction value of 119 million [1] - Zhongjin Fuzhao (300962) closed at 17.56, up 2.45% with a trading volume of 59,700 shares and a transaction value of 104 million [1] - Other notable performers include Zhonggang Tianyuan (002057) up 2.16% and Guangdian Jili (002967) up 1.61% [1] Capital Flow Analysis - The professional services sector experienced a net outflow of 145 million from institutional investors, while retail investors saw a net inflow of 21.15 million [2] - Notable net inflows from retail investors were observed in Shicun Testing (301228) with 1.57 million and Zhonggang Tianyuan (002057) with 716,410 [3] - Conversely, significant net outflows from institutional investors were noted in Zhonggang Tianyuan (1491.19 million) and Xigao Hospital (725.11 million) [3]

Core Insights - The Hong Kong government emphasizes the need for substantial funding and professional services to support mainland enterprises in their international expansion, positioning Hong Kong as the best platform and partner for these companies [1][4] - The trend of mainland enterprises going global is accelerating, with China's foreign direct investment projected to exceed $190 billion in 2024, reflecting an annual growth of over 8% [1] - Hong Kong's unique advantages under the "one country, two systems" framework, including its status as a global financial and trade center, are highlighted as key factors in facilitating international business [2] Group 1 - Hong Kong will continue to strengthen its role as a "super connector" and "super value creator" for mainland enterprises seeking to enter international markets [1] - The government plans to expand its network of economic and trade offices overseas, with a new office in Kuala Lumpur set to commence operations by the end of the year [2] - Hong Kong has signed free trade agreements covering 21 economies and investment protection agreements with 33 economies, enhancing its international trade relationships [2] Group 2 - The Hong Kong government is actively promoting its advantages and opportunities in various countries, having signed 59 cooperation memorandums and agreements in sectors such as trade, finance, and technology during recent visits to the Middle East [3] - A one-stop platform for mainland enterprises has been established to facilitate their overseas expansion, which has already begun operations [3] - Hong Kong aims to align with national strategies to foster cooperative and mutually beneficial relationships with mainland enterprises [4]

Core Insights - The China International Import Expo (CIIE) has become increasingly important for foreign companies in shaping their development strategies in the Chinese market [1][2][3] - CIIE serves as a platform for multinational food companies to synchronize their growth with the Chinese market, facilitating innovation and cultural exchange [1] - Companies like Savencia and Cargill view CIIE as a valuable opportunity to showcase innovative products and solutions, aiming for sustainable development in the food industry [1] - Shiseido emphasizes CIIE as a strategic platform for integrating its business operations in China and enhancing brand recognition among consumers [2] - Standard Chartered highlights CIIE's role in connecting international capital with Chinese companies, fostering global asset allocation [2] - SGS has utilized CIIE to launch innovative services that have quickly gained market recognition, reinforcing its commitment to international trade and technology collaboration [3] - PwC plans to leverage its global network and local insights to support Chinese enterprises in expanding internationally through CIIE [3] Summary by Company - **Savencia**: Anticipates showcasing innovative products at CIIE, focusing on natural and healthy dietary concepts to grow alongside the Chinese market [1] - **Cargill**: Views CIIE as a crucial platform for deepening connections with the Chinese market and promoting sustainable practices in the food industry [1] - **MUJI**: Reports a 12-month consecutive sales growth in China, with 422 stores as of August, and sees CIIE as a catalyst for global resource integration [1] - **Shiseido**: Utilizes CIIE to enhance its business integration in China and boost brand awareness among local and international consumers [2] - **Standard Chartered**: Participates in CIIE to showcase its business strategy and foster partnerships, benefiting from eight years of involvement [2] - **SGS**: Highlights successful launches of innovative services at CIIE, establishing benchmarks in green consumption and digital carbon management [3] - **PwC**: Plans to continue its participation in CIIE to transform professional capabilities into actionable solutions for Chinese enterprises [3]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [6]. Core Insights - The company reported a 27% year-over-year increase in non-net profit for Q3 2025, exceeding expectations. Revenue for Q3 reached 3.68 billion yuan, a 23.7% increase year-over-year, while net profit attributable to the parent company was 93.23 million yuan, up 89.62% year-over-year [1]. - The flexible employment business continues to show robust growth, with over 50,900 outsourced employees as of Q3 2025, covering various professional roles [2]. - The company is enhancing operational efficiency and profitability through cost reduction and business structure optimization, with a positive outlook for steady growth in overall performance [3]. - AI technology is being increasingly integrated into recruitment processes, with the launch of the CRE-T1 model and the Mira digital twin, leading to significant growth in the platform's ecosystem [4]. Financial Performance Summary - For the first three quarters of 2025, the company achieved a revenue of 10.8 billion yuan, a 26% increase year-over-year, and a net profit of 220 million yuan, up 62% year-over-year [1]. - The company’s revenue projections for 2025-2027 are 14.96 billion yuan, 17.90 billion yuan, and 21.43 billion yuan, respectively, with corresponding net profits of 286.47 million yuan, 348.14 million yuan, and 420.42 million yuan [5]. - The company’s EBITDA is projected to grow from 379.92 million yuan in 2025 to 601.89 million yuan in 2027, indicating strong operational performance [5]. Valuation Metrics - The projected price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are 20, 16, and 14, respectively, reflecting a favorable valuation outlook [4][5]. - The company’s market capitalization is approximately 5.73 billion yuan, with a price-to-book (P/B) ratio of 2.59 for 2025 [7].

Investment Rating - The report maintains a "Buy" rating for the consumer services industry, emphasizing the potential for growth driven by government policies aimed at boosting consumption [1]. Core Insights - The report highlights the importance of the "14th Five-Year Plan" which aims to significantly enhance consumer spending through various measures, including increasing public service expenditure and improving consumer rights protection [4]. - It suggests that the current transformation in China's service consumption sector presents a prime investment opportunity, particularly in service consumption platforms, hotel groups with improving margins, and the tourism sector [4]. Industry Overview - The consumer services sector consists of 55 listed companies with a total market capitalization of approximately 498.8 billion yuan and a circulating market value of about 457.1 billion yuan [1]. - The sector's performance over the past month shows a decline of 7.7%, while the 12-month performance indicates a growth of 9.2% [2]. Market Performance - The consumer services industry experienced a weekly increase of 0.45%, outperforming the overall A-share market which rose by 0.39% [7]. - Notable stocks in the sector include Dalian Shengya, Chuangye Heima, and Fangzhi Technology, which showed significant gains [4]. Key Announcements - Major announcements include Meituan's issuance of $2 billion in senior bonds with a subscription rate exceeding 5.7 times, and Guangzhou Restaurant's third-quarter revenue of 2.293 billion yuan, reflecting a year-on-year growth of 4.66% [31][32]. Upcoming Events - Several companies in the sector are scheduled to hold shareholder meetings in November, including Guangzhou Restaurant and Yunnan Tourism, which may provide further insights into their operational strategies and financial performance [35][36]. Industry News - Recent developments include the collaboration between Mixue Ice City and Hainan Airlines to launch a co-branded flight, and the introduction of pet-friendly travel products by Zhongxin Tourism, indicating innovation in service offerings [37][38].