本报广州10月10日电 （记者李刚、洪秋婷）记者从中国外贸中心获悉：第138届广交会，也就是秋交 会，将于10月15日至11月4日分三期在广东省广州市举办，线上平台继续常态化运营。本届广交会展览 面积达155万平方米。展位总数7.46万个，参展企业超3.2万家，均创历史新高，约3600家企业首次亮 相。目前，各项筹备工作进展顺利，已基本就绪。 据悉，本届广交会参展企业质量更好，现场将展出智能类产品35.3万件；精准招商范围更广，到会头部 采购企业预计超400家；贸促活动数量更多，将举办超600场新品发布活动和13场主题论坛；助企惠企力 度更大。 本届广交会共设置175个产品专区，首设智慧医疗专区，展示医疗机器人、智能监测诊断、智能手术辅 助器械等创新成果。 《 人民日报 》（ 2025年10月11日 04 版） (责编：岳弘彬、牛镛) 关注公众号：人民网财经 ...

第138届广交会"一带一路"共建国家采购商增长明显 中新社北京10月10日电 (记者 尹倩芸)第138届中国进出口商品交易会(广交会)10月将于广州启幕。据官 方统计，截至10月9日，已有来自217个出口市场的20.7万名采购商预登记，环比增长14.1%，其中欧 盟、美国、"一带一路"共建国家采购商增长明显。 中国对外贸易中心主任朱咏在10日举行的新闻发布会上介绍，截至10月9日，德国中小企业联合会、中 美总商会、土耳其伊斯坦布尔商会等144家工商机构都将组团参会，环比增长12.5%。 "预计本届到会专业采购商和头部采购企业均超过上届。"朱咏称，截至10月9日，法国欧尚、日本似鸟 等270家头部采购企业确认参会，环比增长9.1%。全球零售250强西班牙英格列斯和阿联酋头部企业热 派克表示，本届将增派买手参会，加大采购。 据介绍，本届广交会展览面积达155万平方米，展位总数7.46万个，参展企业超3.2万家，均创历史新 高，约3600家企业首次亮相。拥有高新技术、专精特新、单项冠军等称号的优质企业首次突破1万家， 创历史新高，占出口展企业总数的34%，现场还将展出智能类产品35.3万件。(完) 来源：中国新闻网 ...

Financial Performance - The company reported a revenue of 9.801 billion yuan for the first half of 2025, representing a year-on-year growth of 10.02% [2] - The net profit attributable to shareholders reached 1.021 billion yuan, with a year-on-year increase of 13.89% [2] - The net cash flow from operating activities significantly increased by 71.89% to 1.094 billion yuan [2] Retail Transformation - The company's retail transformation, ongoing for seven years, has yielded significant results, particularly in strategic categories [2] - Retail sales of smart products surged 18 times compared to the first half of 2024, while functional product sales grew over 50% [2] - The "1号垫系列" mattress sales also increased by more than 50%, and custom retail orders rose by 13% [2] Integrated Home Solutions - The company has transitioned from a traditional single-product model to an integrated home solution provider, enhancing its service capabilities [3] - In early 2023, the company upgraded its full-house customization to an integrated home solution, aiming to meet user demands for a better home life [3] - By the first half of 2025, custom retail orders increased by 13%, and the number of integrated home stores reached 377, with a 10% improvement in sales per unit area [3] Global Expansion - The company is expanding its global footprint while solidifying its domestic market presence, focusing on a multi-dimensional approach to internationalization [4] - Over the past six years, the company has established overseas manufacturing bases exceeding 650,000 square meters in countries like Vietnam, Mexico, and the USA [5] - The company is enhancing its global supply chain resilience and operational capabilities, with significant efficiency improvements in its Vietnamese factories [5] Brand Development - The company is accelerating its global strategy by deepening partnerships with major global home retailers through OEM and ODM business models [5] - The self-owned brand KUKA HOME has seen significant growth, with 15 new stores opened in the first half of 2025, bringing the total to 43 across various countries [5] - This expansion aims to provide high-quality home solutions to the global market, exploring new paradigms for Chinese home brands going abroad [5]

Core Viewpoint - The home furnishing industry in China is closely linked to the real estate cycle, with significant growth in the past two decades driven by real estate benefits. However, since 2021, new home transactions have been declining, leading to a gradual depletion of industry growth. Despite this, Kuka Home (603816) reported double-digit growth in both revenue and profit for the first half of 2025 [1]. Retail Transformation - Kuka Home achieved significant results from its ongoing retail transformation, with a 10.02% year-on-year increase in revenue to 9.801 billion yuan and a 1% increase in net profit to 1.021 billion yuan in the first half of 2025 [1]. - The retail transformation has led to remarkable performance in strategic categories, with smart product retail increasing by 18 times compared to the second half of 2024, and functional product retail growing over 50% [1]. - Kuka Home's seven-year retail transformation focuses on decoupling information flow, capital flow, and logistics, supported by standardized systems and data to enhance direct connections with consumers [1]. - The company has developed five digital systems to upgrade transaction processes into experiential ones, marking a transition from trial phases to systematic growth, which serves as a competitive advantage for future stability [1]. Whole Home Breakthrough - Kuka Home has evolved from a sofa manufacturer to a comprehensive home retail operator, emphasizing a clear path from single products to integrated home solutions [1]. - The company began its custom home business in 2015, gradually building capabilities in scenario design and space integration, which have been further enhanced since the launch of its "integrated whole home" strategy in early 2023 [1]. - In the first half of 2025, custom retail orders grew by 13%, and the number of integrated home stores reached 377, with a 10% increase in sales per unit area [2]. Global Expansion - Kuka Home is advancing its international strategy through a multi-faceted approach that includes capacity expansion, localized operations, and brand development [2]. - Over the past six years, the company has established overseas manufacturing bases exceeding 650,000 square meters in countries like Vietnam, Mexico, and the United States, with significant efficiency improvements in its Vietnamese facilities [2]. - Kuka Home is enhancing its global strategy by focusing on both B2B and B2C users, utilizing OEM and ODM business models while also developing its own brand, KUKA HOME, to explore new paradigms for Chinese home brands abroad [2]. - In the first half of 2025, KUKA HOME opened 15 new stores, bringing the total to 43, with coverage in countries such as India, Vietnam, Thailand, Uzbekistan, and Kazakhstan [2].

Core Viewpoint - The home furnishing industry in China is experiencing a significant transformation due to the decline in the real estate market since 2021, leading to a shift in consumer preferences towards experience and service rather than just product functionality. This has resulted in a restructuring of the competitive landscape, with companies needing to adapt to these changes to sustain growth [1]. Group 1: Company Performance - Kuka Home reported a strong performance in its mid-year results for 2025, achieving a revenue of 9.801 billion yuan, a year-on-year increase of 10.02%, and a net profit of 1.021 billion yuan, up 13.89%. The net cash flow from operating activities reached 1.094 billion yuan, showing a substantial increase of 71.89% [1][2]. - The growth in operating cash flow outpaced both net profit and revenue, indicating improved operational resilience and profitability quality in a challenging environment [2]. Group 2: Retail Transformation - Kuka Home has shifted its retail strategy from a focus on scale to a more systematic approach centered on user needs, marking a significant transformation in the traditional home furnishing industry [3]. - The company has seen remarkable results from its retail transformation, with smart product sales increasing 18 times compared to the second half of 2024, and custom retail orders growing by 13% [3][4]. Group 3: Integrated Home Business - Kuka Home's evolution from a single product manufacturer to a comprehensive home furnishing retailer is marked by its "integrated home" strategy, which aims to meet consumer demands for a better home life through a full-chain capability upgrade [6][7]. - The company has opened 377 integrated home stores, with a 10% increase in sales efficiency, indicating a structural leap in its integrated home strategy [7]. Group 4: Global Expansion - Kuka Home has established a global presence by building overseas manufacturing bases in Vietnam, Mexico, and the United States, totaling over 650,000 square meters, enhancing its supply chain resilience [8][9]. - The company has also expanded its self-owned brand KUKA HOME, opening 15 new stores in the first half of 2025, bringing the total to 43 stores across various countries [9][10]. Group 5: Efficiency and Management - Kuka Home has adopted a "quality and efficiency improvement" strategy, empowering frontline teams and implementing lean management practices to enhance operational efficiency [11]. - The average unit productivity has improved by over 20% year-on-year, demonstrating the effectiveness of the company's initiatives in maintaining healthy and sustainable growth [11]. Conclusion - Kuka Home's performance in the first half of 2025 reflects its successful transition across multiple dimensions, including retail transformation, integrated home business, global supply chain development, and operational efficiency, positioning the company for future growth amid industry challenges [12].