【文/观察者网 王恺雯】美国以印度持续购买俄罗斯石油为由，把对印度商品的关税税率提高至50%。新关税已于8月27日生效，印度成为被美 国加征关税最高的经济体之一。 作为印度最大的出口市场，美国的新关税措施威胁着印度的出口和就业。"印度出口商准备应对美国订单的大幅减少。"路透社写道。印度《经 济时报》则称，印度面临一场多年来最严峻的贸易冲击。经济学家预计，美国的关税将导致印度经济增速下滑。 在美国新关税生效前夕，印度总理莫迪作出强硬表态，称无论面对多大的压力，他领导的印度政府都将保护农民和小企业家的利益。 此前，印度与美国经历了五轮贸易谈判，印方一度对结果表示乐观，认为关税可能在15%左右。然而，随着关税生效日期的临近，美国并没有 给印度"惊喜"。 印度商业和工业部一名不愿透露姓名的官员26日对路透社表示，印度政府对美国立即降低或推迟关税已不抱任何希望。 上述官员补充说，受关税冲击的出口商将获得印度政府的财政支持，政府还鼓励他们开拓中国、拉丁美洲和中东地区市场。 根据美国贸易代表办公室的数据，2024年印度和美国的双边贸易额约为1290亿美元，美国对印度的商品出口总额为418亿美元，进口额为874亿 美元，贸易 ...

新的关税（亚洲最高）于华盛顿时间周三凌晨12:01生效，将现有关税水平从25%翻倍至 50%。该措施 将影响印度超过55%的对美出口（美国是印度最大的市场），对纺织、珠宝等劳动密集型产业冲击最 大。电子产品和医药等关键出口被豁免，暂时保全了苹果公司在印度的大规模新工厂投资。 此举标志着两国关系急剧恶化，特朗普抨击印度购买俄罗斯石油，称其资金正在资助普京。印度则为与 俄罗斯的关系辩护，称美国的举动"不公平、不合理且毫无正当性"。 【导读】美国对印度50%关税正式生效 大家好，简单关注一下印度关税的消息。 8月27日，美国对印度50%关税正式生效，以惩罚印度购买俄罗斯石油的行为，这一举动颠覆了美国数 十年来试图与印度建立更紧密关系的努力。 这些关税令印度官员震惊，尤其是在过去几个月印度与华盛顿持续进行贸易谈判之后。印度是最早与特 朗普政府展开贸易磋商的国家之一，但农业、乳制品等领域的高关税和保护主义政策一直让美方谈判代 表感到沮丧。 在特朗普猛烈抨击印度购买俄罗斯石油后，双边关系进一步恶化。印度辩称这些采购有助于稳定能源市 场，并表示将继续购买俄罗斯石油，"取决于经济利益"。 紧张局势还因特朗普多次声称自己在去年 ...

证券代码：603958 证券简称：哈森股份 公告编号：2025-041 哈森商贸（中国）股份有限公司 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 哈森商贸（中国）股份有限公司（以下简称"公司"或"哈森股份"）第五 届监事会第十四次会议通知和资料于 2025 年 8 月 16 日以通讯方式发出，并于 名，实际出席会议监事 3 名，其中以通讯表决方式出席会议的监事 1 名。 会议由监事会主席冯利军先生主持，本次会议的召集、召开符合有关法律、 行政法规、部门规章、规范性文件和《公司章程》的规定，表决形成的决议合法、 有效。 本次会议审议并通过如下议案： 经监事会审议，监事会认为公司 2025 年半年度报告的编制和审议程序符合 《公司法》等相关法律法规和《公司章程》规定，报告的内容和格式符合中国证 监会和上海证券交易所的相关规定，真实、准确、完整地反映了公司 2025 年半 年度的财务状况和经营成果，不存在任何虚假记载、误导性陈述或者重大遗漏。 在提出本意见前，监事会未发现参与 2025 年半年度报告编制和 ...

Core Viewpoint - Aokang International (603001) reported a significant decline in financial performance for the first half of 2025, with net profit dropping by 364.28% year-on-year and total revenue decreasing by 21.39% compared to the previous year [1] Financial Performance Summary - Total revenue for the first half of 2025 was 1.081 billion yuan, down 21.39% from 1.375 billion yuan in the same period of 2024 [1] - The net profit attributable to shareholders was -92.0448 million yuan, a decline of 364.28% from -19.8252 million yuan in 2024 [1] - Gross margin decreased to 35.79%, down 15.82% year-on-year, while net margin fell to -8.74%, a drop of 475.99% [1] - Total expenses (selling, administrative, and financial) amounted to 492 million yuan, accounting for 45.49% of revenue, a slight decrease of 0.04% year-on-year [1] - Earnings per share were -0.23 yuan, a decrease of 364.57% from -0.05 yuan in 2024 [1] Cash Flow and Expense Analysis - Net cash flow from operating activities increased by 42.34%, attributed to reduced advertising and employee compensation expenses [3] - Net cash flow from investing activities rose by 80.61%, due to decreased purchases of time deposits and financial products [3] - Net cash flow from financing activities increased by 32.27%, driven by increased mortgage borrowings and reduced lease-related expenses [4] Changes in Financial Items - Accounts receivable decreased by 19.62% to 784 million yuan, while cash and cash equivalents fell by 5.27% to 476 million yuan [1] - Short-term borrowings surged by 271.55%, reflecting increased mortgage borrowings [10] - Prepayments increased by 69.33%, indicating a rise in prepaid rent [10] Business Model and Historical Performance - The company's business model relies heavily on marketing, necessitating a thorough examination of the underlying drivers [12] - Historical data shows a median Return on Invested Capital (ROIC) of 0.67% over the past decade, with a particularly poor ROIC of -10.71% in 2022, indicating weak investment returns [11]

以下文章来源于商业弧光 ，作者柳柳 商业弧光 . 听风者，捕光人，最准点的商业节拍 出品｜虎嗅商业消费组 作者｜柳柳 编辑｜苗正卿 题图｜KEEN 年轻人鞋柜里的顶流迭代迅速，曾风靡一时的Crocs洞洞鞋式微，Birkenstock勃肯鞋接棒上位。如今，薄底鞋、芭蕾鞋、溯溪鞋风头正劲，上演着一场 静默革命。 在"错鞋理论"里，建立个人风格，只需选择最意想不到的鞋子来完成穿搭。主体基调都是，不遵循规则，去表达自我，这或许是每一款爆款崛起与退潮 的底层原因：洞洞鞋和勃肯鞋的生存法则是"丑时尚"。薄底鞋继2024年爆火后2025年热度延续，其中芭蕾鞋被很多奢侈品牌看中布局。溯溪鞋，这种 专为户外涉水设计的透气功能性鞋履，不经意间成为年轻人街头巷尾的新宠。 年轻人对鞋的喜好更迭之快，总令人捉摸不透。到底是谁在拿捏他们的鞋柜？ 丑鞋洞洞鞋为何不火了？ 凭借 "洞门文化"，洞洞鞋鼻祖Crocs曾在2023年创造过营收200亿美元的商业神话，成为校园里的潮流符号。 然而，最近一年，市场表现尽显颓势。2024年四个季度，Crocs的营收同比增速分别为14.6%、9.7%、7.4%、4.0%，下滑趋势明显。2025 年一季度， ...

出品｜虎嗅商业消费组 年轻人鞋柜里的顶流迭代迅速，曾风靡一时的Crocs洞洞鞋式微，Birkenstock勃肯鞋接棒上位。如今，薄底鞋、芭蕾鞋、溯溪鞋风头正劲，上演着一场静默 革命。 在"错鞋理论"里，建立个人风格，只需选择最意想不到的鞋子来完成穿搭。主体基调都是，不遵循规则，去表达自我，这或许是每一款爆款崛起与退潮的底 层原因：洞洞鞋和勃肯鞋的生存法则是"丑时尚"。薄底鞋继2024年爆火后2025年热度延续，其中芭蕾鞋被很多奢侈品牌看中布局。溯溪鞋，这种专为户外涉 水设计的透气功能性鞋履，不经意间成为年轻人街头巷尾的新宠。 年轻人对鞋的喜好更迭之快，总令人捉摸不透。到底是谁在拿捏他们的鞋柜？ 更深层的危机在于价值体系的崩塌。Crocs自身的定价与市场竞争的矛盾加剧困境。电商平台上 39 元的平替款大量出现，让千元内价位的Crocs，试图打造 的"功能性轻奢"定位不堪一击。 Crocs自身的业务决策与运营问题更是难辞其咎，此前收购意大利休闲鞋品牌HEYDUDE导致的库存压力与关税增加相互叠加，推高运营成本，拖累业绩。 不过，Crocs天猫旗舰店目前仍保持着10%的增长，这揭示了一个现实：洞洞鞋并未真正消失，只 ...

爆款福利来了！！！ 去年卖爆的 卡帝乐飞织鞋， 全新升级第五代，首发价只要79元！！！ 这个价格大家放心入就好了，连被卷成狗的某音都要卖138，我们直接破价79元！ 应该有很多小伙伴还记得，去年这个时候给大家推过 第四代卡帝乐飞织鞋， 有多好穿， 买过的都知道，妥妥的 百 元穿出千元脚感！ 当时库存6W+一下被卖断货，光发货品牌方都发了好几天，后面来不及 生产 还预售了一段时间！ 今年刚入夏，就有小伙伴在后台留言想回购卡帝乐的飞织鞋 。 品牌偷偷跟我透露了马上会有新款，终于今天，咱们拿到了 全新第 五代卡帝乐冷粘鞋底情侣飞织鞋 点击下图即可购买 品牌实力雄厚 来自1947年于新加坡创立轻奢品牌—— CARTELO(卡帝乐鳄鱼） 感觉脚底生风，像装了空调一样，凉爽到飞起 ，那股烦躁的心情都愉悦了不少。 轻量化设计，踩屎般脚感 轻，实在是轻！ 在全国设有上千家专卖店铺，连续多年获评为 "全国十大畅销品牌"，品牌实力就是品质的保证。 ▼ 一体成型的飞织鞋面 一秒透气 ， 10000+个密集的编织微孔还能将鞋内的闷热排出，让你 时刻享受送风的快感。 在这样大汗淋漓的季节，穿上一双透气舒适的飞织鞋 第五代飞织鞋升级ev ...

Core Insights - Daphne International (00210) reported a mid-term performance for the six months ending June 30, 2025, with a revenue of 198 million RMB, representing a year-on-year increase of 17.48% [1] - The profit attributable to shareholders was 64.685 million RMB, reflecting a year-on-year growth of 15.4% [1] - Basic earnings per share stood at 0.033 RMB [1] Revenue Breakdown - The group's revenue primarily consists of licensing fees and product sales from mainland China [1] - Licensing fee revenue increased by 24% year-on-year, rising from approximately 68.6 million RMB to about 85.2 million RMB, driven by a higher number of licensed footwear and other product categories to online franchisees compared to the same period in 2024 [1]

Core Viewpoint - The article discusses the decline of Crocs, once a fashion sensation, highlighting a significant drop in its financial performance and changing consumer preferences that have led to its current struggles [5][9][19]. Financial Performance - Crocs reported a drastic shift in its financials, with operating profit plummeting from $325.7 million in the same quarter last year to an operating loss of $427.5 million in Q2 2025 [5]. - The company anticipates a revenue decline of 9% to 11% in Q3, contrasting sharply with previous market expectations [5]. - Following the announcement, Crocs' stock price fell nearly 30%, reaching a three-year low with a market capitalization of $4.171 billion [5]. Historical Context - In 2023, Crocs sold 120 million pairs of shoes, generating nearly $4 billion in revenue, marking a historic high for the brand [9][18]. - The brand's unique positioning as a functional shoe with features like slip resistance and water resistance initially drove its popularity [11]. Marketing and Brand Strategy - Crocs successfully transformed its "ugly shoe" image into a cultural symbol through clever marketing strategies, appealing to younger consumers [11][13]. - The brand's DIY culture, allowing consumers to personalize their shoes, contributed to its appeal, with significant social media engagement [15]. Consumer Behavior Changes - A shift in consumer sentiment has been noted, with a decline in spending on non-essential items, particularly among price-sensitive low-income groups [19][21]. - The "long skirt theory" suggests that during economic downturns, consumers tend to opt for more conservative and practical choices, impacting Crocs' sales [21]. Competitive Landscape - The market for casual footwear has become increasingly competitive, with numerous brands offering similar products at lower price points, challenging Crocs' market share [30][32]. - Crocs' pricing strategy, with shoes priced between $30 to $90, is less competitive compared to alternatives available for as low as $10 [32]. Product and Innovation Challenges - Crocs faces criticism regarding its product quality and innovation, with many consumers expressing dissatisfaction with comfort and fit [32]. - The acquisition of HEYDUDE did not yield the expected results, with a revenue decline and significant impairment losses reported [27]. Economic and Regulatory Factors - The company anticipates a $90 million impact from tariffs in 2025, which could further strain its pricing strategy and consumer demand [29]. - The presence of counterfeit products and alternatives in the market is eroding Crocs' brand value and market position [30].

Core Viewpoint - Crocs, the leading brand in the clogs market, has issued a revenue guidance indicating a projected year-over-year decline of 9% to 11% for Q3 2025, signaling a potential downturn in the popularity of clogs [1][2]. Group 1: Company Performance - Following the revenue guidance, Crocs' stock price plummeted nearly 30%, resulting in a market capitalization of approximately $4 billion, which is nearly half of its peak value in 2024 [2]. - The decline in Crocs' performance reflects a broader trend in the clog market, suggesting that the once-popular footwear is experiencing a decline in consumer interest [3][4]. Group 2: Consumer Experience and Safety Concerns - Consumers of clogs face multiple safety risks, including ankle sprains, falls, being caught in escalators, and potential shrinkage of the shoes due to heat [5][16]. - Specific incidents highlight these risks, such as a consumer spraining an ankle after stepping on a loose manhole cover while wearing Crocs [7], and another experiencing multiple falls due to the lack of grip on slippery surfaces [9][18]. - The design of clogs, which often includes high heels and thick soles, compromises stability and increases the likelihood of accidents [18][21]. Group 3: Market Trends and Alternatives - The popularity of clogs is waning, with consumers increasingly seeking alternatives that offer better safety features and comfort, such as creek shoes [27]. - Sales data indicates a significant rise in creek shoe sales, with a 50% increase since June 2025 and a 75% increase in transaction value on platforms like Tmall [29]. - The global sandal market is also expanding, projected to grow from $32.6 billion in 2024 to $44.81 billion by 2033, indicating a shift in consumer preferences towards safer and more functional footwear options [29].