继8月底钉钉推出AI（人工智能）硬件"DingTalk A1"后， AI硬件创业公司Plaud在9月下旬正式宣布进军 中国市场。此外，出门问问、360等大厂玩家已经推出类似产品，AI录音硬件赛道热度持续升温。 Plaud创始人许高是一名连续创业者，公司总部在深圳，但他们率先搏杀的市场却在海外。这套打法并 不鲜见，近年来，四足机器人、割草机、泳池机器人、全景相机等硬件产品的制造商纷纷将目光瞄准海 外市场，凭借中国完善的供应链体系和工程师红利，硬件出海已斩获不俗业绩。而随着AI逐渐向端侧 应用落地，带AI的硬件也迎来了出海新机会。 AI硬件,正站在人机关系重构的重要节点,已成为AI产业链的"新入口"。 上海一家AI玩具企业负责人向记 者表示，目前除了国内市场，公司也开始尝试在海外B端渠道销售AI玩具。此外，传统家具企业也正加 大AI在其产品上应用。圣奥科技是一家办公家具企业，该集团董事长倪正良就介绍，数智赋能（特别 是AI应用）和全球布局，是公司的两个重要方向。 AI硬件：端侧入口必争之地 乌兰察布的乌兰哈达6号火山上，一只"云深处"公司制造的机器狗正在巡检，而遥控它的人却在1700公 里之外的杭州。这样的千里遥 ...

Financial Data and Key Metrics Changes - The company reported a revenue increase of 5% year-over-year, reaching $897 million, marking the highest quarterly results in the past five years [4][9] - Adjusted earnings per share were $0.45, exceeding expectations due to higher revenue and favorable gross margins [9] - The adjusted operating margin improved to 8.4%, a 40 basis point increase compared to the prior year [10] Business Line Data and Key Metrics Changes - The Americas segment achieved an adjusted operating margin of 11%, remaining flat compared to the previous year [10] - The international segment saw a revenue growth of 13%, with 8% organic growth, driven by strong performance in India [4][10] - Orders grew by 6% in the second quarter, with an 8% increase in the Americas, primarily from large corporate customers [5][11] Market Data and Key Metrics Changes - Strong order growth was noted in the financial services and technology sectors, while the education sector experienced a decline due to changes in federal funding policies [6][11] - The international segment's growth was offset by declines in Germany and France, which faced macroeconomic challenges [5][10] Company Strategy and Development Direction - The company is focused on transforming workplace environments to support new ways of working, capitalizing on the ongoing trend of redesigning office spaces [6][7] - The proposed merger with HNI Corporation is expected to enhance market reach and combine industry-leading brands [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in large corporate demand, which is stronger than anticipated [18] - The company is not providing forward-looking guidance due to the pending merger with HNI Corporation [9] Other Important Information - The company incurred $10 million in restructuring costs in the international segment, primarily related to the exit of salaried employees in EMEA [10] - Total liquidity at the end of the quarter was $427 million, with total debt at $447 million [12] Q&A Session Summary Question: Can you break out the outperformance in terms of volume versus price increases? - Management indicated that the 8% order growth in the Americas was primarily driven by volume rather than price increases, which contributed only a couple of percent [16] Question: Are there plans for additional price increases? - Management refrained from commenting on future pricing actions but noted that they were able to offset year-over-year inflation and tariff costs with earlier pricing actions [17] Question: How do current end markets compare to earlier expectations? - Management stated that current end markets are more favorable than previously anticipated, with strong demand from large corporate customers [18] Question: What is the demand profile in the Americas? - Management noted that clients are rethinking their office spaces, focusing on outcomes and redesigning spaces to support collaboration and connection [25] Question: Can you discuss profitability improvements in the international segment? - Management highlighted improvements in both Asia-Pacific and EMEA, with Asia-Pacific showing demand improvement and EMEA benefiting from revenue growth and cost reductions [28][29] Question: What is the cadence of order patterns in the Americas? - Management reported that order patterns were steady throughout the quarter, with no unusual fluctuations [39] Question: How are customers rethinking office spaces post-COVID? - Management observed that customers are increasingly focused on redesigning spaces to attract talent and support new working styles, incorporating privacy and collaboration solutions [42]

Financial Data and Key Metrics Changes - The company reported second quarter revenue of $897 million, exceeding expectations and marking a 5% increase year-over-year, the highest quarterly results in the past five years [4][8] - Adjusted earnings per share were $0.45, also above the estimated range, driven by higher revenue and favorable gross margins [8][9] - Organic revenue growth was 4%, with 3% growth in the Americas and 8% growth internationally [9] Business Line Data and Key Metrics Changes - The Americas segment achieved an adjusted operating margin of 11%, while the international segment improved adjusted operating results by $5 million compared to the prior year [4][9] - Orders grew by 6% in the second quarter, with an 8% increase in the Americas, primarily driven by large corporate customers [5][10] - The international segment saw strong order growth in India, offset by declines in Germany and France due to macroeconomic challenges [5][10] Market Data and Key Metrics Changes - The international segment posted 13% revenue growth, including 8% organic growth, with particularly strong results from India [4][9] - The Americas growth was partially offset by a decline from education customers, influenced by changes in federal funding policies [9][10] - Demand in the Asia-Pacific region improved, while EMEA faced challenges primarily in Germany and France [25][26] Company Strategy and Development Direction - The company is focused on transforming workplace environments to support new ways of working, capitalizing on the ongoing trend of redesigning office spaces [6][40] - The proposed merger with HNI Corporation is expected to enhance market reach and combine industry-leading brands [7][45] - The company is committed to executing its strategy during the transition period and anticipates significant benefits from the merger [7][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in large corporate demand, noting that it is occurring at a higher level than anticipated [15] - The company is seeing a consistent theme of clients rethinking their office spaces to enhance creativity, collaboration, and connection [22][40] - Management did not provide forward-looking guidance due to the pending merger but remains encouraged by the momentum in the business [8][11] Other Important Information - The company incurred $10 million in restructuring costs in the international segment, primarily related to the exit of salaried employees in EMEA [9] - Total liquidity at the end of the quarter was $427 million, with total debt at $447 million [11] Q&A Session Summary Question: Can you break out the outperformance in terms of volume versus price increases? - Management indicated that the 8% order growth in the Americas was primarily driven by volume rather than price increases, which contributed only a couple of percent [13] Question: Are there plans for additional price increases? - Management refrained from commenting on future pricing actions but noted that they were able to offset year-over-year inflation and tariff costs with earlier pricing actions [14] Question: How do current end markets compare to earlier expectations? - Management stated that end markets are more favorable than anticipated, with strong demand from large corporate customers despite declines in the education sector [15] Question: What is the demand profile in the Americas? - Management noted that clients are rethinking their office spaces, focusing on outcomes and redesigning spaces to support collaboration and connection [22] Question: Can you clarify the profitability improvement in international markets? - Management confirmed that both Asia-Pacific and EMEA improved profitability, with Asia-Pacific showing demand improvement, particularly in China [25][26]

Financial Data and Key Metrics Changes - The company reported second quarter revenue of $897 million, which was above the estimated range due to stronger than expected orders from large corporate customers and favorable shipment timing in the Americas segment [9] - Adjusted earnings per share were $0.45, exceeding estimates driven by higher revenue and favorable gross margins [9] - Organic revenue growth was 4% year-over-year, with 3% growth in the Americas and 8% growth internationally [10] Business Line Data and Key Metrics Changes - The Americas segment achieved an adjusted operating margin of 11%, remaining flat compared to the prior year [10] - The international segment improved adjusted operating results by $5 million compared to the prior year, driven by cost reduction actions [4][5] - Orders grew by 6% in the second quarter, with an 8% increase in the Americas, primarily from large corporate customers [11] Market Data and Key Metrics Changes - The international segment posted 13% revenue growth, including 8% organic growth, with strong results from India [4] - In the Americas, order growth was driven by the financial services and technology sectors, while education customers experienced a decline [11] - The international order decline was primarily due to weaknesses in Germany and France, offset by growth in India and Japan [11] Company Strategy and Development Direction - The company is focused on transforming workplace environments to support new ways of working as employees return to the office [6][47] - The proposed merger with HNI Corporation is expected to expand market reach and combine industry-leading brands [7] - The company is aligning resources to focus on the best opportunities in markets facing macroeconomic challenges [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in large corporate demand, noting it is occurring at a higher level than anticipated [15] - The company is encouraged by the momentum sustained into the second quarter, particularly from large corporate customers [12] - Management highlighted the need for customers to redesign their spaces to attract talent and support new working styles [42] Other Important Information - The company incurred $10 million in restructuring costs in the international segment, primarily related to the exit of salaried employees in EMEA [10] - Total liquidity at the end of the quarter was $427 million, with total debt at $447 million [12] Q&A Session Summary Question: What was the breakdown of volume versus price increases in the outperformance? - Management indicated that the 8% order growth in the Americas was primarily driven by volume rather than price increases, which contributed only a couple of percent [15] Question: Are there plans for additional price increases? - Management refrained from commenting on future pricing actions but noted that they were able to offset year-over-year inflation and tariff costs with earlier pricing actions [16] Question: How do current end markets compare to earlier expectations? - Management stated that the end markets are more favorable than previously anticipated, with strong demand from large corporate customers [17] Question: What is the demand profile in the Americas? - Management noted that clients are rethinking their office spaces, focusing on outcomes and redesigning spaces to support collaboration and connection [24] Question: How did profitability improve in the international segment? - Management highlighted improvements in both Asia-Pacific and EMEA, with Asia-Pacific showing demand improvement and EMEA benefiting from revenue growth and cost reductions [27][28]

Financial Data and Key Metrics Changes - The company reported consolidated net sales of $956 million for Q1 2026, representing a growth of 10.9% year-over-year and 10% on an organic basis [12][13] - Adjusted earnings per share (EPS) increased by 25% to $0.45, significantly outperforming guidance [12] - Consolidated gross margin for the quarter was 38.5%, impacted by approximately $8 million in net tariff-related costs [14] Business Line Data and Key Metrics Changes - In the North America contract segment, net sales were $534 million, up 12% year-over-year, while new orders decreased by 8% [15] - The international contract segment saw net sales improve to $168 million, a 14.4% increase, but new orders were down 6.5% [16] - The global retail segment reported net sales of $254 million, up 6.4% year-over-year, with new orders improving by 1.7% [17][18] Market Data and Key Metrics Changes - Office leasing activity for Class A space remains robust, with Manhattan leasing activity in August exceeding the 10-year monthly average [7] - Web traffic in North America increased by 17% compared to the previous year, indicating strong consumer interest [9] Company Strategy and Development Direction - The company is focusing on accelerated product creation, consistent execution, and prudent cost management while investing for profitable growth [6] - Plans include opening 12 to 15 new stores in the U.S. for the fiscal year, aiming to double the store footprint over the next several years [9][10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth momentum in the contract business, with improving conditions in key markets [7] - The company anticipates that pricing actions will offset tariff impacts in the second half of the fiscal year [14][19] Other Important Information - The company has undergone leadership changes, with Jeff Stutz promoted to Chief Operating Officer and Kevin Veltman appointed as Interim CFO [4][5] - The company was recognized as a great workplace for innovators, highlighting its commitment to employee satisfaction [11] Q&A Session Summary Question: Normalization of growth in the Americas - Management confirmed that North America contract growth averaged 3.3% over the last two quarters, with volume being a key driver [26][27] Question: Retail profitability pressures - Management indicated that new store expenses were the primary factor impacting retail margins, with expectations for revenue from new stores to mitigate this impact over time [32][33] Question: Impact of tariffs on business - Management clarified that the $8 million net tariff-related impact reflects ongoing pricing mitigation efforts, with expectations for reduced impact in Q2 [48][49] Question: Industry consolidation and competitive outlook - Management views industry consolidation positively, seeing it as an opportunity for growth and differentiation [40][41] Question: International market performance - Management acknowledged slower recovery in international markets but noted growth in direct-to-consumer channels [42][43]

Group 1 - The integration of digital technology and traditional culture is being actively pursued in Zhejiang, a cultural province in China, enhancing the cultural industry through technological advancements [3][4] - The "Cultural + Technology" initiative has led to the emergence of new cultural products, such as AI emotional companion robots and digital cultural experiences, which are becoming popular among consumers [5][9] - The establishment of the Wulin 921 Digital Cultural Industry Park represents a significant investment in the cultural sector, set to officially open on May 18, 2024, and aims to promote cultural and technological synergies [5][9] Group 2 - The Zhejiang Publishing Group is transforming its operations by adopting a "Publishing +" strategy, which integrates content creation with digital technology, enhancing efficiency and reducing costs in the publishing process [8][9] - The group has successfully published the 3A game "Black Myth: Wukong," showcasing its capability in the new cultural industry, which includes online literature, films, and games [8][9] - The establishment of a "Global AI Digital Product Trade Comprehensive Pilot Zone" at the Wulin 921 Park aims to facilitate the international dissemination of new cultural products [9] Group 3 - E-signature technology is becoming a crucial tool in the digital economy, with e-signature platform e签宝 expanding its services and achieving significant growth, including a doubling of revenue this year [10][11] - The introduction of an intelligent contract agent by e签宝 has streamlined contract management for businesses, reducing processing time by 60%-80% and achieving a high coverage rate of key clause reviews [10][11] - Traditional manufacturing sectors are also integrating AI technologies, as seen in the development of smart office solutions by companies like 圣奥科技, which enhance workplace ergonomics and productivity [11][12] Group 4 - The Hangzhou government has identified key future industry pilot zones, including two in the Xiaoshan District, aimed at fostering innovation and efficient transformation of industrial ecosystems [12]

Core Insights - The establishment of the Zhejiang Airport Low Altitude Economic Equity Investment Partnership marks a significant move in the low-altitude economy sector in Zhejiang, with a total fund size of 3 billion yuan and an initial phase of 1 billion yuan [1] - The Long Triangle region is leveraging a "fund leverage" approach to stimulate the entire low-altitude economic industry chain, creating a sustainable "industry-technology-finance" closed-loop ecosystem [1] Policy Matrix - The development of the low-altitude economy in the Yangtze River Delta is characterized by collaborative policies among Shanghai, Jiangsu, Zhejiang, and Anhui, moving from independent planning to a complementary support system [2] - Each region has set ambitious targets for 2027-2035, with Shanghai aiming for a core industry scale of 50 billion yuan, Jiangsu focusing on airspace management reform, and Zhejiang targeting a high-level low-altitude economic hub by 2035 [2][3] Infrastructure Development - A new infrastructure system centered on "facility networks, air networks, flight route networks, and service networks" is rapidly taking shape, with practical applications emerging from initial plans [3] Fund and Industry Integration - Funds are acting as a critical link in bridging the "industry-technology" gap, facilitating a closed-loop ecosystem that enables technological breakthroughs and capital empowerment [4] Industry Chain Development - The Long Triangle region is forming a clearly defined industrial chain network, with provincial funds targeting high-value segments and local capital supporting the end of the chain [5] - The establishment of a "2-hour supply chain ecosystem" enhances industrial clustering efficiency and reduces production costs [5] Technological Advancements - Funds are being utilized as targeted tools to address technical barriers, particularly in airworthiness certification and airspace management [6] - Significant investments, such as the multi-million dollar funding from CATL to Peak Aviation for solid-state battery development, are crucial for achieving airworthiness certification [6] Financial Collaboration - Since 2024, financing for the low-altitude economy in the Yangtze River Delta has shown structural recovery, driven by a dual model of "market capital + policy funds" [7] - The "double GP double state-owned capital" model in Zhejiang is pivotal in addressing early-stage financing challenges [8] Replicable Model - The rise of the low-altitude economy in the Yangtze River Delta is a result of government guidance, market resonance, and regional collaboration, forming a "golden triangle" model that can be replicated nationwide [9] - Key elements include leveraging funds to stimulate growth, prioritizing infrastructure to lower costs, and establishing mutual recognition of regulations to enhance efficiency [9][10]

Core Viewpoint - The article highlights the success of Beisiqi, a Chinese company specializing in ergonomic home and office products, which has achieved over $500 million in sales in 2024 and competes effectively with established overseas brands [5][16]. Group 1: Company Background and Growth - Beisiqi was founded by engineer Lv Yaqi, who focused on product optimization during the early days of cross-border e-commerce, rather than quick profits from white-label products [6][11]. - The company launched an ergonomic TV mount in 2017, which quickly became a best-seller on Amazon, achieving monthly revenues of up to $800,000 [7][11]. - Beisiqi has expanded its product line from TV mounts to monitor stands and height-adjustable desks, achieving category leadership on Amazon [13][15]. Group 2: Market Insights and Strategy - The global office furniture market is projected to reach $57.51 billion in 2024, with significant growth expected in the U.S. market, driven by demand for ergonomic and modern office solutions [18]. - Beisiqi aims to address unmet user needs in seemingly mature categories by offering innovative designs and smart features, such as voice-controlled TV mounts [9][19]. - The company has received investments from IDG Capital and Anker Innovations, which have accelerated its global expansion and product development [16]. Group 3: Future Directions and Innovations - Beisiqi is focusing on creating smart ergonomic products that enhance user experience, with plans to integrate AI and voice control into its offerings [22]. - The company targets a 20% market demand for smart features in the future, which is expected to contribute significantly to industry profits [22]. - Beisiqi's growth strategy includes continuous double-digit growth, product smartification, high-end differentiation, and deepening offline channels [22].

Core Insights - The article highlights the successful global expansion of the Shenzhen-based company BESTQI, which has differentiated itself in the market through innovative ergonomic technology and smart design, achieving sales of over $500 million in 2024 and projected to exceed $700 million in 2025 [1][2][4]. Group 1: Company Strategy and Market Position - BESTQI began its journey by launching an ergonomic TV mount on Amazon in 2017, quickly becoming a best-seller with monthly revenues exceeding $800,000 [2]. - The company has focused on high investment in product development rather than competing solely on price, allowing it to penetrate the mid-to-high-end market in Europe and the U.S. [2][4]. - The founder, Lü Yaqi, emphasizes the importance of understanding user scenarios and unmet needs in the market, which has guided the company's product development strategy [3][7]. Group 2: Product Development and Innovation - BESTQI's success is attributed to its commitment to product quality and innovation, with a dedicated team spending two years refining their initial product [4]. - The company has expanded its product line from TV mounts to include monitor mounts and height-adjustable desks, achieving category leadership on Amazon [4][6]. - The introduction of smart features, such as voice-controlled TV mounts, reflects the company's goal to create intelligent ergonomic products that enhance user experience [8][10]. Group 3: Market Trends and Future Outlook - The global office furniture market is projected to reach $57.51 billion in 2024, with significant growth expected in the U.S. market driven by ergonomic and modern office solutions [8]. - BESTQI aims to achieve double-digit growth over the next three to five years by focusing on product intelligence and high-end differentiation [10]. - The company recognizes the shift in the e-commerce landscape, moving away from a focus on low-cost products to those that are genuinely useful and trustworthy [10].

Core Viewpoint - The company Saint-O is adapting its cross-border e-commerce strategy in response to changing global trade conditions, focusing on improving inventory management and leveraging government support to enhance operational efficiency [1][2][3]. Group 1: Business Strategy and Adaptation - Saint-O has experienced a rebound in order volume after initially facing challenges due to global trade complexities and inventory shortages in the U.S. market [1][2]. - The company has shifted its strategy to enhance responsiveness by seeking better suppliers and utilizing big data models to analyze market demand and predict order trends, thereby reducing inventory risks [1][3]. - The establishment of a cross-border e-commerce team in 2019 marked a significant turning point, leading to over 8 million yuan in sales that year [2]. Group 2: Government Support and Policy Environment - The local government has provided substantial support through training programs on international business management, tax compliance, and marketing, which has facilitated the company's cross-border operations [1][2]. - The implementation of the cross-border e-commerce comprehensive pilot zone 2.0 in Hangzhou has improved payment and settlement processes, further aiding the company's growth [1]. Group 3: Market Expansion and Operational Efficiency - Saint-O's cross-border e-commerce now accounts for one-third of its overseas business, with products available on major platforms like Amazon [3]. - The company has adopted a new model where third-party platforms place orders directly, reducing inventory pressure and logistics costs, which will be expanded to key markets in Europe and Japan [3]. - Future plans include using historical sales data and predictive analytics to optimize inventory turnover and create a more agile cross-border operation system [3].