转自：上海市市场监督管理局网站 联系电话：021-54265926、54265931 | 序 | 抽查产品类别 | 样品标称名称 | 标称商标 | 标称规格型号 | 标称生产日 | 生产者/销售者名称 | 不合格项目 | | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | | | | | 期/批号 | | | | 1 瓶装液化石油 | | 家用瓶装液化石油 | 皇口冠 | JYT0.6L-A1 | 2025年4月 | 上海雄装贸易有限公 | 材 料 | | 气调压器 | | 气调压器 | | | 10日 | 司 | | | 2 可燃气体探测 | | 家用可燃气体探测 | 图形商标 | JT-YJ-607 | 2023年9月 | 上海冈祈科技有限公 | 报警动作值试验、方位试验 | | 器 | | 器 | | | 20日 | 司 | | | 3 家用燃气灶 | | | 川妹妤太太 | JZY-A3-2611 | 2025年7月6 | 上海朱咏商贸经营部 | 热负荷、干烟气中CO浓度（室内型） | | | | | | | 日// | （个人独资） | | ...

Market Overview - The total retail sales of consumer goods in China showed a growth trend from July 2024 to July 2025, with a year-on-year increase of 5.0% in the first half of 2025, driven by policies like trade-in programs and promotions on e-commerce platforms [12][13] - In the first half of 2025, significant growth was observed in various sectors, including home appliances, food, and pet products, with specific categories like ice makers growing by 168% and special medical formula foods increasing by 46% [1][12] Key Industry Trends - The personal care and household cleaning industry is expected to see stable demand and growth, with retail sales projected to increase due to supply chain optimization and market expansion [21][22] - The foundation makeup market in China is anticipated to surpass 100 billion yuan, with brands like Estée Lauder and Lancôme leading in sales on e-commerce platforms [37][38] - The small home appliance market is expanding, with significant sales growth in water purifiers and household appliances, driven by consumer demand for convenience and quality [2][21] - The outdoor and sports industry is experiencing an upward trend in sales, particularly for yoga, fitness, and outdoor travel products, with a notable increase in consumer interest in outdoor apparel and pet-related outdoor products [2][3]

Core Viewpoint - The report indicates that Supor (002032) is rated as a "buy" due to its stable long-term performance, although short-term exports are impacted by U.S. tariffs [1] Financial Performance - In the first half of 2025, Supor reported revenue of 11.48 billion yuan, a year-on-year increase of 4.7%, and a net profit attributable to shareholders of 940 million yuan, a slight decrease of 0.1% [1] - The net profit margin for the first half of 2025 was 8.2%, down 0.4 percentage points year-on-year [1] - Revenue for Q1 and Q2 of 2025 was 5.79 billion yuan and 5.69 billion yuan respectively, with year-on-year growth rates of 7.6% and 1.9% [1] - The net profit for Q1 and Q2 was 500 million yuan and 440 million yuan respectively, with year-on-year changes of +5.8% and -5.9% [1] Domestic and International Sales - Domestic sales in the first half of 2025 reached 7.76 billion yuan, up 3.4% year-on-year, supported by national subsidy policies [2] - The gross margin for domestic sales improved to 27.7%, an increase of 0.6 percentage points year-on-year [2] - International sales in the first half of 2025 were 3.72 billion yuan, a year-on-year increase of 7.6%, but Q2 growth slowed due to U.S. tariff changes [2] - The gross margin for international sales was 15%, down 1.5 percentage points year-on-year [2] Product Performance - In the first half of 2025, revenue from cooking appliances, cookware, food processing appliances, and other appliances was 4.7 billion yuan, 3.16 billion yuan, 1.95 billion yuan, and 1.67 billion yuan respectively, with year-on-year growth rates of +1.2%, +7.5%, +2.4%, and +13% [3] - The gross margins for these product categories were 23.5%, 25.5%, 20.3%, and 24.1% respectively, with year-on-year changes of +0.6, -1.1, +0.2, and -1.5 percentage points [3] Investment Recommendations - The company is expected to maintain stable earnings, high return on equity (ROE), and high dividends, with projected net profits for 2025-2027 at 2.3 billion yuan, 2.38 billion yuan, and 2.49 billion yuan respectively [3] - Earnings per share (EPS) are forecasted to be 2.87 yuan, 2.96 yuan, and 3.1 yuan for the same period, corresponding to price-to-earnings (PE) ratios of 17.9, 17.3, and 16.5 times [3]

Core Insights - The launch of the foreign trade marketing AI tool OKKI AiReach has shown significant results within its first month, helping merchants discover an average of 1,325 new potential customers and sending nearly 335,000 marketing messages [1] - The "cooling economy" has surged due to global high temperatures, with cooling product GMV increasing by 77% year-on-year, making it a key driver of cross-border order growth this summer [1] - The AI tool has enabled merchants to efficiently identify and target previously overlooked customer segments, enhancing their market reach and sales potential [2] Group 1 - OKKI AiReach has become a valuable asset for foreign trade businesses, particularly in the booming cooling product market, by leveraging real-time data and industry knowledge to generate and analyze supply chain maps [1] - The tool has successfully identified hidden customer segments, such as dessert training classes and culinary schools, which were not part of the traditional sales map [2] - Merchants using OKKI AiReach have reported improved customer acquisition capabilities, allowing them to focus on existing customer relationships while the AI handles new customer development [2] Group 2 - The AI tool has transformed the customer acquisition process from a manual effort to an AI-driven approach, providing a more efficient and effective means for small and medium-sized businesses to grow [2] - The success stories of merchants like Tao Lei highlight the practical benefits of integrating AI into foreign trade operations, showcasing its ability to uncover new market opportunities [2]

Core Insights - The global demand for summer products such as cooling, sun protection, and water sports has significantly increased due to ongoing high temperatures in various regions [1] - The cooling product category has seen a remarkable growth in GMV (Gross Merchandise Volume), with a year-on-year increase of 77% over the past month, making it a key driver of cross-border order growth this summer [1] - Ice cream machine sales have experienced an impressive GMV growth rate of 95% [1] Industry Trends - The application of intelligent marketing tools is providing new pathways for foreign trade enterprises to enhance customer acquisition efficiency [1] - The launch of the foreign trade marketing AI tool OKKI AiReach has helped merchants discover an average of 1,325 new potential customers per merchant and has sent nearly 335,000 marketing messages in its first month [1] Product Insights - In the cooling equipment sector, OKKI AiReach has demonstrated its potential to assist merchants in mapping out supply chains and uncovering hidden customer resources [1] - By utilizing real-time data and industry knowledge graph analysis, OKKI AiReach can proactively generate and analyze supply chain maps, accurately identify potential customers, and reveal numerous hidden clients [1]

Group 1 - The overseas market demand for cooling products is increasing due to high temperatures, presenting opportunities for Zhejiang companies [1] - Zhejiang Jiujing Refrigeration Equipment Co., Ltd. has successfully expanded into multiple international markets, achieving an export value of 3.26 million yuan, nearly one-third of the company's total output [1] - Zhejiang Yili Dairy Co., Ltd. has seen a surge in orders for frozen drinks, with successful exports to Hong Kong last year and plans to enter the South Korean market this year [1] Group 2 - The number of frozen beverage export companies in the Hangzhou Customs jurisdiction has increased from two to six this year, with a total export of 262.1 tons in the first half of the year, representing a 43-fold year-on-year growth [2]

Group 1: Summer Consumption Trends - The summer consumption market in China is experiencing significant growth, with a notable increase in sales of energy-efficient air conditioners by 82% year-on-year since late June [2] - New product categories such as air purifiers and cooling appliances are seeing even higher sales growth, with new wind air conditioners up 116% and air circulation fans up over 89% [2] - E-commerce platforms report substantial increases in sales of summer cooling products, with ice collars up over 110% and sun protection gloves up over 90% [2] Group 2: Local Consumption Initiatives - Various regions are launching promotional activities to enhance summer consumption, including outdoor events and themed festivals that attract large crowds and boost sales [3] - The "Shanghai Summer" international consumption season will feature over 300 events, while Guangxi and Fujian are also organizing numerous activities to stimulate local economies [3][4] - The National Bureau of Statistics highlights that consumer demand is steadily increasing, supported by ongoing initiatives to boost consumption [3] Group 3: Tourism and Travel Trends - The tourism sector is witnessing a surge in popularity for summer travel, particularly in regions known for their cooler climates, such as Urumqi and Kunming [6] - New indoor activities like indoor skiing and surfing are gaining traction, with bookings for indoor snow and ice parks doubling compared to last year [7] - Young travelers are particularly targeted through innovative cultural and gaming collaborations, enhancing engagement and driving tourism [8] Group 4: Night Economy Development - The night economy is evolving, with a 20% year-on-year increase in night-time ticket bookings for attractions, indicating a growing interest in evening activities [10] - Cities are enhancing their night-time offerings with diverse entertainment options, such as theater performances and drone light shows, which are attracting more visitors [11] - Local governments are implementing measures to improve safety and convenience for night-time consumers, including extended public transport hours and enhanced security [11]

Group 1: Impact of High Temperatures on Labor - High temperatures have led to the implementation of robots in outdoor labor roles, significantly improving working conditions and reducing the need for human labor in extreme heat [1][4] - "Human-machine collaboration" is being utilized in sanitation work, where autonomous cleaning machines operate during peak heat hours to lessen the burden on sanitation workers [2] - Workers are now equipped with smart cooling gear, such as cooling vests and special materials for seating, which help reduce sweat and improve comfort during high temperatures [4][5] Group 2: Consumer Trends in Response to Heat - Sales of cooling appliances like air conditioners and fans have surged, with air conditioner sales on JD.com increasing over 123% year-on-year in July [5][7] - Social media has seen a rise in discussions around "cooling gadgets," with related topics garnering 460 million views, indicating a strong consumer interest in heat relief products [7] - The demand for seasonal cooling products has led to significant increases in sales for items like ice-making machines and summer foods, with some categories seeing growth rates of nearly 400% [7][8] Group 3: Enhanced Weather Forecasting and Public Health Measures - The introduction of more precise "meteorological+" warnings reflects a shift towards understanding the health impacts of high temperatures, with new health risk alerts being issued based on temperature-related disease risks [11][12] - Local governments are now providing detailed temperature forecasts and health advisories tailored to specific populations, such as the elderly and outdoor workers, to mitigate health risks associated with extreme heat [11][13] - The focus on personalized public service in response to high temperatures demonstrates a growing awareness of the need for targeted health protection measures [13]

Group 1 - The core consumer trends in July include national subsidies, family travel, and safe charging solutions [1][3] - The new round of consumption subsidies has led to a 10.15% month-on-month increase in GMV for "national subsidies" related products in the second half of July [1] - Seasonal factors have driven a consumption peak for cooling appliances, with ice-making machines seeing a 28.17% year-on-year increase in GMV [1] Group 2 - The focus of family travel has shifted from "material needs" to "emotional needs," with parents prioritizing experiences and cultural values [3] - The GMV for educational research products increased by 59.01% year-on-year in July, indicating a strong interest in experiential learning [3] - The implementation of new regulations for power banks has boosted sales of certified charging products, making it a hot topic in July [3] Group 3 - The data from July reflects the resilience and potential of the Chinese consumer market, supported by enhanced national subsidies and the traditional summer travel peak [3]

Core Viewpoint - The "cooling economy" is thriving due to the increasing demand for cooling products and services in response to high temperatures, creating significant market opportunities [1][2][3]. Group 1: Cooling Products and Market Trends - Air conditioning sales have surged, with JD.com reporting a more than twofold year-on-year increase in air conditioner sales since July, and installation rates increasing over threefold [1]. - Other cooling appliances like portable fans, dehumidifiers, and ice makers have also seen sales double across various e-commerce platforms [1]. - The demand for cooling food and beverages has risen sharply, with carbonated drinks and ice cream sales increasing over 75% since the start of summer [2]. Group 2: Night Economy and Consumer Behavior - The night economy has become a significant aspect of the cooling economy, with 60% of urban consumption occurring at night, leading to a doubling of night orders in 127 cities since July [2]. - Various local governments are implementing policies to support night economy initiatives, enhancing consumer experiences through diverse nighttime activities [2]. Group 3: Innovation and Market Dynamics - The "cooling economy" is driven by both consumer demand for innovative and comfortable cooling solutions and suppliers' responses to market needs through new product development [3]. - Innovative products such as smart wearable air conditioners and graphene cooling patches are emerging, showcasing the integration of modern technology and materials into everyday items [3]. Group 4: Policy Support and Future Outlook - To further enhance the "cooling economy," local governments are encouraged to expand the supply of quality products and services, promote integration across various sectors, and support technological advancements [4]. - The "cooling economy" is viewed as a sustainable long-term economic model that can provide new growth opportunities for businesses and stimulate local economic development [4].