每年年底，北美最大的婴童用品展ABC Kids Expo都会发布下一年度的行业趋势，被视为欧美婴童市场的重要参考。今年的2026趋势报告已经公布，对国内 做外贸、跨境、电商OEM/ODM的婴童企业来说，非常值得提前关注。以下为提炼的最值得重点关注的五大行业发展趋势。 Japandi 风格结合了日式与北欧的设计语言，以柔和、自然、木质感为核心特征，深受欧美父母喜爱。2026 年，这种风格仍将主导婴儿家具、收纳用品、婴 房整体布置以及木质玩具等品类。对于做家具、木制品和家居类产品的企业来说，这是一个持续可深耕的方向。 欧美父母正在重新爱上"奶奶风"。碎花、柔软纹理、温暖色调以及复古婴房布置等元素，将在2026年成为婴童纺织品、床品、家居装饰和婴童家具的主流视 觉方向。对于做布艺、床品和家居类产品的工厂来说，这波趋势非常值得提前布局。 北极熊、小动物等"软萌陪伴型"角色将继续成为欧美婴童用品的热门视觉元素。它们非常适合应用在毛绒玩具、安抚玩具、婴房摆件和婴童礼盒等产品中。 如果企业具备原创角色开发能力，这类"治愈系"形象往往更容易在市场中脱颖而出。 以超人为代表的经典超级英雄符号正在重新流行，尤其是披风等标志性元素 ...

Core Viewpoint - Goodbaby (01086) is rated "Buy" with a target price of HKD 1.85, driven by its core asset Cybex, which is a major profit source and growth driver for the group [1] Group 1: Company Overview - Goodbaby is a global leader in the baby products industry, known for its safety, innovation, and high quality, with a diverse product matrix covering strollers, car seats, furniture, carriers, and apparel [1] - The company owns strategic brands such as Cybex, Evenflo, and gb, catering to various market segments and price points [1] Group 2: Cybex Performance - In 2024, Cybex achieved record revenue of HKD 4.4 billion, accounting for 51% of total revenue, with a gross margin exceeding 50% [1] - Cybex continues to increase its global market share, holding approximately 30% in Europe, while expanding into Japan and other potential markets [1] Group 3: gb Brand Transformation - The gb brand, a domestic leader, has faced challenges but is showing signs of recovery, with positive growth in offline channels and improved online performance expected by mid-2025 [2] - The brand's gross margin has improved due to optimized channel management and pricing strategies [2] Group 4: Financial Performance and Shareholder Returns - In 2024, Goodbaby's revenue grew by 10.6% to HKD 8.77 billion, driven by growth in Europe and Cybex [3] - Operating profit and net profit attributable to shareholders increased by 35.7% and 74.9%, respectively, benefiting from improved gross margins [3] - The company has resumed dividend payments, declaring HKD 0.07 per share, representing a payout ratio of 33.3% [3]

Core Viewpoint - First Shanghai has issued a "Buy" rating for Goodbaby (01086) with a target price of HKD 1.85, highlighting the company's competitive advantages and future development potential [1] Group 1: Company Overview - Goodbaby is a global leader in the baby products industry, known for its safety, innovation, and high quality, with a diverse product matrix that includes strollers, car seats, baby furniture, carriers, and clothing [2] - The company owns strategic brands such as Cybex, Evenflo, and gb, covering all price ranges and age groups to meet various market demands [2] Group 2: Cybex Performance - Cybex, recognized as a high-end brand, generated a record revenue of HKD 4.4 billion in 2024, accounting for 51% of total revenue, with a gross margin exceeding 50% [3] - The brand continues to increase its global market share, holding approximately 30% in Europe, while also expanding into markets like Japan, the Middle East, North America, and China [3] Group 3: gb Brand Transformation - The gb brand, a domestic leader in the Chinese market, has faced a decline due to various internal and external factors, but is showing signs of recovery with positive growth in offline channels and improved online performance [4] - The gross margin has significantly improved due to the optimization of channel strategies, and the Chinese market is expected to gradually turn from loss to profit [4] Group 4: Financial Performance and Shareholder Returns - In 2024, Goodbaby's revenue increased by 10.6% to HKD 8.77 billion, driven by growth in Europe and the Cybex brand [5] - Operating profit and net profit attributable to shareholders rose by 35.7% and 74.9% to HKD 500 million and HKD 360 million, respectively, benefiting from improved gross margins [5] - The company has resumed dividend payments, declaring a dividend of HKD 0.07 per share, equivalent to a payout ratio of 33.3%, as a means to return value to shareholders [5]

Group 1 - The Chinese government firmly opposes sacrificing principles and international fairness for any agreements, as stated by the spokesperson of the Ministry of Commerce [1] - The U.S. Treasury Secretary emphasized the need for the U.S. to strengthen its leadership in the IMF and World Bank, aiming for greater transparency in global financial governance [3] - The U.S. tariffs have led to significant financial burdens on low-income families, with additional costs amounting to 6.2% of their income, compared to only 1.7% for high-income households [6] Group 2 - Predictions indicate that if the current U.S. tariff policies remain unchanged, prices for baby products could rise by approximately 30%, with specific tariffs on baby furniture and toys reaching as high as 129% and 113% respectively [8] - The recent congressional hearing highlighted the challenges faced by the U.S. Treasury Secretary in justifying the tariff policies, which are increasingly seen as detrimental to the economy [5][8] - The overall impact of the tariffs is perceived as counterproductive, with the policies described as a self-inflicted economic challenge rather than a protective measure for American interests [8]