Group 1 - The 137th China Import and Export Fair (Canton Fair) is viewed as a barometer for China's foreign trade, showcasing the resilience of Chinese manufacturing and the vitality of foreign trade [1] - The fair introduced a service robot section with 46 participating companies, highlighting the trend towards high value-added products in foreign trade [2] - New products and technologies, such as the 3D foot scanning technology from Jiming Footwear Co., are driving the upgrade of foreign trade structures towards higher added value [2] Group 2 - Companies are actively seeking to diversify their markets, with a significant portion of inquiries coming from countries involved in the Belt and Road Initiative [3] - The emphasis on "seeing is believing" has led to increased factory visits by foreign buyers, enhancing trust in Chinese manufacturing capabilities [3] - Companies like Guangzhou Textile Import and Export Group are shifting from selling products to providing comprehensive solutions, aiming to enhance competitiveness in global markets [4] Group 3 - Chinese foreign trade enterprises are transitioning from cost advantages to comprehensive advantages, including innovation and brand strengthening [4] - The rise in the "new content" of Chinese foreign trade is linked to the global value chain's ascent and the practice of an open world economy [4] - The focus on technological breakthroughs and green transformation is paving the way for high-quality development in China's foreign trade [4]

Core Points - The article highlights the surge in consumer interest in foreign trade products during the "May Day" holiday in Shanghai, with many consumers favoring high-quality, affordable goods that were previously exported but are now available domestically [1][3][10] Group 1: Consumer Behavior - Shanghai's major shopping centers and supermarkets experienced a significant influx of shoppers, particularly in the "foreign trade quality products" section, indicating a strong demand for these items [1][5] - Consumers are attracted to the high quality and appealing designs of foreign trade products, such as the "Dun Dun" cup and various kitchenware, which are marketed as both stylish and functional [3][10] - Many shoppers, including younger consumers and retirees, are motivated by the desire to support domestic sales of foreign goods, especially in light of recent tariff pressures [12][14] Group 2: Retail Strategies - Retailers like the First Food Store have implemented expedited processes to quickly stock foreign trade products, successfully launching new items just before the holiday [5][9] - The Shanghai Global Port has transformed its product display from a flower cart to a more organized shelf system, showcasing a wider variety of foreign trade goods to attract consumers [14] - Supermarkets and e-commerce platforms are collaborating to streamline the entry of foreign trade products into the domestic market, offering incentives such as zero-cost trial operations and simplified onboarding processes [16][20] Group 3: Product Offerings - The article mentions specific products, such as a French press coffee maker and various canned tuna options, highlighting their competitive pricing compared to online alternatives [7][10] - Retailers are planning to adjust their product offerings based on sales performance, aiming to introduce more popular and award-winning items to meet consumer demand [9][10] - The presence of high-quality foreign products at lower prices, such as shoes and personal care items, is emphasized as a key selling point for attracting customers [16][20]

Core Insights - The article emphasizes the "Sweet Potato Economy" of Wenzhou, which symbolizes resilience and adaptability in business, particularly in the face of global uncertainties such as U.S. tariffs [2][16][22] - Wenzhou's economy is heavily reliant on private enterprises, which contribute over 90% to various economic metrics including GDP and tax revenue [1][7] Group 1: Definition and Characteristics of "Sweet Potato Economy" - The "Sweet Potato Economy" refers to a high-growth model characterized by market and resource expansion beyond local boundaries, while maintaining a strong local foundation [4][5] - Wenzhou's businesses are likened to sweet potatoes, with their roots in local soil and their vines extending globally to absorb resources and opportunities [3][5] Group 2: Global Expansion and Adaptation - Wenzhou has a significant diaspora, with over 200,000 individuals globally, which facilitates international business connections and opportunities [6] - In 2024, Wenzhou's total import and export volume reached 293.66 billion yuan, a 4.1% increase from the previous year, indicating ongoing trade expansion despite external pressures [7][8] Group 3: Business Strategies Amid Tariff Challenges - Companies like Desai Group are adapting to U.S. tariffs by diversifying their market presence, shifting focus to Europe and other regions, and adjusting their workforce accordingly [10][12] - The emphasis on product quality and innovation is crucial for maintaining competitiveness, with companies investing in unique technologies and brand development [14][15] Group 4: Resilience and Future Outlook - The article highlights the importance of resilience in Wenzhou's business culture, where companies are encouraged to innovate and strengthen their core competencies in response to external challenges [16][19] - The interconnectedness of Wenzhou's business network allows for shared resources and strategies, enhancing collective resilience against market disruptions [20][21]

通过港口、运价、经济景气度、韩国出口等高频追踪出口景气度。 文：国金宏观宋雪涛/联系人孙永乐 特朗普的"对等关税"和随之而来的"90天暂缓"让二季度的中国外贸形势变得复杂，我们梳理了一些可 以有效跟踪美国进口和中国出口节奏的 高频指标。 第一类：中美港口数据 一是美国主要港口的进口集装箱吞吐量。 易得的美国港口数据包括洛杉矶港进口集装箱吞吐量（周度）、洛杉矶港、长滩港、纽约新泽西港的集 装箱月度吞吐量数据。 截至4月19日，洛杉矶港口进口集装箱吞吐量同比增长8.6%，依旧处于相对高位。另外，部分机构也 会发布航运相关数据，如全美零售联合会预估美国7月集装箱进口量将减少27%，8月减少28%。 二是中国的港口货物和集装箱吞吐量 。 中国交通运输部每周公布港口完成货物和集装箱吞吐量数据。从历史数据看， 货物吞吐量同比增速与 中国进出口同比增速之间的相关性比较高 。 截至4月20日，4月中国港口完成货物、集装箱吞吐量同比分别增长4.4%、7.5%，3月为4.2%、 8.9%，港口货运依旧维持韧性，并未失速。 第二类：集装箱运价数据 一是中国公布的出口集装箱运价指数（ CCFI ）以及主要航线的集装箱运价指数，在一定 ...

Group 1 - The company reported a revenue of 821 million yuan for 2024, representing a year-on-year growth of 1.12% [1] - The net loss attributable to shareholders for 2024 was 96.41 million yuan, compared to a net loss of 5.33 million yuan in the same period last year [1] - The company plans not to distribute cash dividends for the 2024 fiscal year, nor will it conduct capital reserve transfers to increase share capital or any other forms of distribution [1]

点击上图▲立即报名 文 / 巴九灵（微信公众号： 吴晓波频道） 关税战甚嚣尘上，世界经济再起波澜。 世界上是否还有不受关税打击的避难桃源？非洲，尤其是东非，吸引了出海中企的目光。 相比于被加征高达50%关税的南非，东非受美关税政策影响较小，肯尼亚和埃塞俄比亚的关税 远低于中国的60%，仅为10%，几乎是为中企出海另辟了一片逐鹿之地。 吴晓波激荡商学将围绕"贸易突围·新出海之路"，带领企业家们前往非洲一探究竟，就市场痛 点、潜在商机、经营风险为中国企业家提供解决方案式出海考察，共拓出海新商路。 【点击了 解详情】 全球的"最后一个十亿级蓝海市场" 当中国摩托车在限摩禁令下熄火，搭载着中国零件的"手工"摩的却冲上非洲街头， 某摩托车配 件销售商，仅在一个月实地考察后强势空降非洲市场，如今年营收1亿元人民币，在出海利润榜 单上一路狂飙。 而这仅仅是非洲出海的剪影，扬尘起处，中国企业家驰骋的机遇，已经到来。 非洲被誉为全球的"最后一个十亿级蓝海市场"，对于出海企业而言有着巨大的发展潜能。 现有人口14亿的基础上，非洲人口却仍在以每年3%—4%的高速增长位居全球前列，令人兴奋 的是，60%的非洲人口年龄不到25岁，以充 ...

成都鞋类产业带规模全国第三，与另外三大鞋类产业带温州、泉州、广州并称为"三州一都"，诞生了诸 多女鞋品牌，也是很多知名品牌的主要代工地。 有数据显示，成都聚集了逾1500家生产型鞋业企业和配套企业。成都鞋类出口量占中国女鞋三分之一, 美国亦是出口目的地之一。美国滥施关税对成都的制鞋产业影响几何？ 与美直接贸易不多 4月15日，证券时报记者采访了四川省鞋业协会秘书长马运涛。他表示，经历了前些年的中美贸易摩 擦，成都乃至四川的制鞋企业多已转战内销市场。外贸方面，俄罗斯等欧洲市场才是成都鞋类出口的主 要目的地，同美国客户直接贸易的企业已经不多，"整体来看，美国实施的关税战对成都制鞋产业的影 响并不大"。 他同时指出，针对沿海制鞋企业或加大内销的潜在压力，成都女鞋产业也需要改善原有相对粗放的管理 水平等来应对。 成都武侯区簇桥街道，一只巨大的红色女鞋模型摆放在道路一侧；一路之隔，"中国女鞋之都"的黄色标 识矗立。以上种种都说明着这里是"中国女鞋之都"的核心地带。虽然商厦外观稍显陈旧，但依然看得出 昔日的辉煌。 四川省鞋业协会在收集信息时了解到，有的美国客户选择损失定金（通常为订单的30%）；有的则要求 制鞋企业通过东 ...

Core Viewpoint - The Jinjiang Ecological Environment Bureau is actively promoting the harmonious coexistence of local economy and ecological environment through innovative service measures, guided by the concept that "lucid waters and lush mountains are invaluable assets" [1][2] Group 1: Policy Implementation and Communication - Since 2024, the Jinjiang Ecological Environment Bureau has organized 16 face-to-face policy communication activities and published over 20 policy information updates via WeChat and enterprise groups to address the "last mile" issue of policy dissemination [1] - The bureau has provided personalized solutions for different enterprises, including distributing over 2,000 copies of the "VOCs Governance and Environmental Supervision Guidelines for the Footwear Industry" to assist small and dispersed footwear enterprises in effective pollution management [1] Group 2: Project Support and Environmental Impact - The bureau has established a dedicated service team for enterprises, ensuring comprehensive support for key projects from application to implementation [2] - For example, the coal-fired boiler ultra-low emission renovation project by Fujian Baihong Fiber Technology Co., Ltd. involved a total investment of 31.2 million yuan, receiving 8.4 million yuan in central air pollution prevention subsidies, resulting in annual reductions of 167 tons of nitrogen oxides, 58 tons of sulfur dioxide, and 23 tons of particulate matter [2] - Another project by Jinjiang Jincheng Washing Co., Ltd. had an investment of approximately 4 million yuan, with 1.23 million yuan in subsidies, leading to expected annual reductions of 36 tons of nitrogen oxides, 46 tons of sulfur dioxide, and 13 tons of particulate matter, significantly improving local air quality [2] Group 3: Future Goals and Sustainable Development - The Jinjiang Ecological Environment Bureau aims to continue promoting high-quality and efficient governance projects to optimize ecological environment quality and support sustainable development in Jinjiang [2] - This proactive exploration and practice not only enhance ecological optimization but also strengthen the economic development foundation, promoting comprehensive social and economic progress [2]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company is expected to achieve a revenue of 24 billion CNY and a net profit of 3.84 billion CNY in 2024, representing a year-on-year growth of 19.35% and 20.0% respectively, primarily driven by the new factory's production and improving worker efficiency [2][4] - The company plans to distribute a dividend of 20 CNY per 10 shares, with a dividend payout ratio of 61%, which is an increase of 17 percentage points year-on-year, resulting in a dividend yield of 3% [2] - The company has initiated a partnership with Adidas, with mass production expected to start in September 2024, and has opened three new factories in Vietnam and one in Indonesia [3][4] Financial Summary - The company’s revenue for 2024 is adjusted from 23.5 billion CNY to 24 billion CNY, while the net profit forecast is adjusted from 3.893 billion CNY to 3.841 billion CNY [5] - The earnings per share (EPS) for 2024 is adjusted from 3.34 CNY to 3.29 CNY, with forecasts for 2025 and 2026 remaining at 3.89 CNY and 4.48 CNY respectively [5] - The price-to-earnings (PE) ratios for 2024, 2025, and 2026 are projected to be 20, 17, and 14 respectively, indicating a favorable valuation outlook [5][8] Sales and Production Insights - In Q4 2024, the company achieved a sales volume of 22.3 million pairs and an average selling price (ASP) of 107 CNY, reflecting a year-on-year growth of 18% in volume and 2% in price [3] - The production capacity utilization rate in Q4 was approximately 100%, an increase of 2 percentage points year-on-year [3] Market Position and Competitiveness - Despite concerns regarding inventory replenishment and profit margin impacts from new factory production, the company has opportunities for market share growth with major clients like Nike and Adidas, as well as additional contributions from brands like ON, NB, and REEBOK [4] - The company is expected to experience a capital expenditure peak in 2025 and 2026 due to new factory openings, which may temporarily affect profit margins but is anticipated to enhance long-term revenue potential [4]

以下文章来源于秦朔朋友圈 ，作者巫珩 秦朔朋友圈 . 秦朔朋友圈是由中国著名媒体人、财经观察家秦朔牵头创立的一个新媒体与专业服务品牌，包括微信公众号、微博、视频节目、音频节目等。内容聚焦于 经济、金融和商业领域，关注重点为全球和中国财经商业热点、企业家精神、创新与发明创造、商业文明探索等。 一个遗憾。 作者 I 巫珩 来源 I 秦朔朋友圈 在香港，李嘉诚连续20年登顶亚洲首富。四大富豪之一的刘銮雄，以"股市狙击手"和"铜锣湾铺王"著称，成为香港商界的一大传奇人 物。 再远眺海外，立邦漆创始人吴清亮2 02 1年登上新加坡首富，被誉为"亚洲漆王"。正大集团创始人谢氏兄弟，连续多年霸占泰国首富， 业务小到作物种子和鱼肉供应，大到信息通讯、银行房产，几乎可以说涵盖了泰国人的一生。此外，加拿大、欧洲、澳洲等地的华人 首富桂冠也曾由潮汕人拿下。 正是这些风云人物，将潮汕帮推向了顶级商帮的地位。然而，当我们将目光转回到潮汕老家，却发现这片土地并没有想象中那么发 达，甚至最常听到一句评价，汕头是最落后的经济特区。 为什么反差会如此之大？我先来给你分享一个故事。 （ID：qspyq2015） 潮汕帮有多风光，可能潮汕就有多失 ...