12月6~7日，由《中国企业家》杂志社主办的2025（第二十三届）影响力企业家年会（原中国企业领袖 年会），在北京召开。在6日下午的【全球化600秒】出海新范式环节，杰克科技创始人、董事长阮积祥 以"全球化增长四个阶段"为主题作了精彩分享。 以下为演讲的精彩观点： 1．全球化第一个阶段，名字非常重要。 2．出海的第一阶段，不仅是产品或产能的简单扩张，更需要伙伴与品牌同国际接轨。 专题：2025《中国企业家》影响力企业家年会 就近消费、就近生产，这就是全球领航者的未来，各行各业都会走向这样的发展格局。 文|《中国企业家》记者 胡楠楠 3．业务全球化，是普照世界的阳光；运营本地化，才能扎根全球的土壤。以简单贸易运转，很难实现 全球化发展。 4．就近消费、就近生产，这就是全球领航者的未来，各行各业都会走向这样的发展格局。 5．最易的那条路，就是内卷之路；最难的那条路，才是胜利之路。 以下为阮积祥现场演讲实录（有删减）： 杰克科技是一家做工业缝纫机的企业，从工业缝纫机发展到成套智联解决方案服务商，目前正在做无人 化的智能产线。我们在这个行业的产销量连续15年全球第一，目前做到了占全球40%的市场份额。 我们把杰克的全 ...

Investment Rating - The report maintains a "Buy" rating for the company [2][8] Core Insights - The company has demonstrated steady growth, with revenue of 4.967 billion yuan in the first three quarters of 2025, reflecting a year-on-year increase of 5.53%. The net profit attributable to shareholders reached 682 million yuan, up 10.06% year-on-year [5][6] - The industrial sewing machine industry is experiencing a critical phase of smart transformation, with domestic demand under pressure while exports are growing. The company has successfully increased its market share through a "hit product strategy" and global expansion [6][7] - The introduction of AI sewing machines and humanoid robots is expected to open up long-term growth opportunities. The company has made significant technological advancements and is currently in the market promotion phase for its AI-integrated products [7][8] Financial Performance - For 2025-2027, the company is projected to achieve revenues of 6.581 billion, 7.335 billion, and 8.169 billion yuan, with year-on-year growth rates of 8.00%, 11.46%, and 11.37% respectively. The net profit attributable to shareholders is expected to be 921 million, 1.093 billion, and 1.284 billion yuan, with growth rates of 13.37%, 18.74%, and 17.45% respectively [8][10] - The company's PE ratios for 2025-2027 are projected to be 20.44, 17.22, and 14.66, indicating a favorable valuation trend [8][10]

Investment Rating - The report maintains a strong buy recommendation for the industry, highlighting specific companies such as Juxing Technology, QuanFeng Holdings, Jack Technology, and Honghua Digital Science as key investment opportunities [4][9]. Core Insights - The overall revenue growth rate for the sample companies in the first half of 2025 was 15.04%, while the net profit growth rate was 23.34%, indicating that profit growth outpaced revenue growth [3][15]. - The average gross margin for the sample companies in the first half of 2025 was 30.95%, a slight decrease of 0.53 percentage points year-on-year, while the average net margin increased by 0.96 percentage points to 14.15% [3][21]. - Cash flow conditions improved significantly, with operating net cash flow rising from 5.384 billion in the first half of 2024 to 6.978 billion in the first half of 2025 [3][21]. Summary by Sections 1. Overview of Consumer Goods Export Chain Companies - The report analyzes 21 companies in the mechanical industry that primarily serve the C-end consumer market or manufacture products for C-end consumption, with a significant portion of their revenue coming from overseas markets [2][12]. 2. Stock Performance - Stock performance showed significant differentiation, with companies in the garden tools and two-wheeler sectors performing well. Notable performers in Q1 2025 included Jiexing Technology and QuanFeng Holdings, driven by the robotics sector [7][13]. 3. Profit Growth Outpacing Revenue Growth - The report notes that several companies experienced revenue growth exceeding 20%, including Daya Co. with a 132.3% increase in revenue due to seasonal demand and acquisitions [15][16]. 4. Profitability Improvement - Most sample companies demonstrated strong profitability, with net profit margins increasing year-on-year. Companies like Yindu Co. and Honghua Digital Science reported high net margins of 24.3% and 25.47%, respectively [21][22]. 5. Cash Flow Status - The cash flow situation for the sample companies is reported to be good, with a net cash ratio consistently above 1, indicating healthy cash flow management [3][21]. 6. Future Outlook - The report emphasizes the importance of monitoring tariff and interest rate changes, which could catalyze demand in certain sub-industries. The anticipated interest rate cuts in the U.S. are expected to enhance demand elasticity for related products [8][9]. 7. Investment Recommendations - The report suggests focusing on companies with advanced global layouts that are likely to gain market share amid tariff changes. Specific recommendations include Juxing Technology, QuanFeng Holdings, and Jack Technology [8][9].

Core Viewpoint - The investment of 2 million yuan by a clothing company in Jiaxing, Zhejiang, to improve the working environment reflects a strategic approach to employee relations, emphasizing the importance of humanistic care in corporate management [1][2]. Group 1: Employee Care and Corporate Culture - Companies in Zhejiang, both state-owned and private, are increasingly recognized for their humanistic care, which includes initiatives like "filial piety wages" and safety improvements for workers [2]. - The implementation of humanistic care in corporate culture can significantly enhance employee loyalty, reduce turnover rates, and foster a positive work environment, leading to greater innovation and productivity [2][3]. Group 2: Economic Context and Talent Retention - Zhejiang's vibrant private economy, characterized by a high quality and quantity of enterprises, has created numerous job opportunities, making it a preferred destination for talent and skilled labor [1]. - The province's commitment to a talent-driven strategy and the belief that "employees are the most valuable asset" have contributed to its success in attracting and retaining talent [1].

Core Viewpoint - The investment of 2 million yuan by a clothing company in Jiaxing, Zhejiang, to improve the working environment reflects a strategic approach to employee relations, emphasizing the importance of humanistic care in corporate management [1][2]. Group 1: Employee Care Initiatives - The company spent 2 million yuan on ergonomic chairs and eye-protection lamps, showcasing a commitment to employee well-being [1]. - Other examples of humanistic care in Zhejiang include a sewing machine company offering a "filial piety salary" for employees to support their parents, and a power supply company using electric lifting devices to enhance safety for workers [2]. Group 2: Importance of Humanistic Management - Humanistic care is essential in modern corporate management, as it fosters a harmonious labor relationship and enhances employee loyalty and innovation [2]. - Companies that prioritize humanistic values can significantly reduce turnover rates and create a positive cycle of employee satisfaction and contribution [2][3]. Group 3: Cultural Development - Companies are encouraged to build a corporate culture centered on humanistic care, which can lead to stronger employee identification and commitment to the organization [3].

Core Viewpoint - Jack Co., Ltd. is celebrating its 30th anniversary, showcasing its latest technologies and future vision under the leadership of founder and chairman Ruan Jixiang, who emphasizes a long-term strategy involving technological leaps, acquisitions, and global expansion [1][3]. Group 1: Company Evolution - Jack Co., Ltd. transitioned from a home sewing machine manufacturer to a global provider of intelligent manufacturing solutions for the apparel industry, integrating robotics, AI, and sewing machinery [4][10]. - The company has made three significant strategic moves, referred to as "first moves," that have shaped its development [5][8]. Group 2: Strategic Moves - The first strategic move occurred in the early days when the company shifted focus from home sewing machines to industrial sewing machines, anticipating market changes and technological challenges [5]. - The second move involved expanding into overseas markets during the aftermath of the 2009 financial crisis, with successful acquisitions of German and Italian companies, enhancing its capabilities in automated cutting and sewing [6]. - The third move is centered on leveraging AI and robotics to create a comprehensive intelligent manufacturing ecosystem, transitioning from a sewing equipment manufacturer to a solutions provider [7][9]. Group 3: Technological Advancements - Jack Co., Ltd. holds 3,254 valid patents and software copyrights, covering key technologies in the sewing machine industry [10]. - The company has introduced innovative products such as the "Fast Response King" intelligent sewing machine and the "Overlock King" intelligent overlock machine, which enhance operational efficiency and adaptability [10]. Group 4: Global Strategy - Jack Co., Ltd. has a robust global presence, with 60.94 billion yuan in revenue in 2024, a 15.11% increase year-on-year, and overseas revenue accounting for 29.44 billion yuan [11]. - The company operates a marketing network across over 170 countries and regions, with a focus on localizing production and adapting to regional market demands [11][12]. Group 5: Future Outlook - The company plans to continue expanding through acquisitions and aims to establish itself as a leader in the intelligent manufacturing sector, with a focus on advanced technology and local market integration [12].