Core Insights - The article highlights the growing trend of cross-border e-commerce in Hong Kong, driven by mainland Chinese platforms like Pinduoduo, Taobao, and JD.com, which offer competitive pricing and free shipping, enhancing consumer convenience and choice [1][3][4] E-commerce Expansion - Hong Kong residents are increasingly purchasing daily necessities from mainland e-commerce platforms, with significant price advantages noted, such as a 2/3 reduction in costs for certain products [1][3] - The introduction of free shipping policies by platforms like Taobao and Pinduoduo has transformed shopping habits, leading to a surge in online orders during promotional events [3][4] Consumer Behavior Changes - The shift from low-cost focus to service-oriented shopping is evident, with consumers now valuing the overall shopping experience, including logistics and after-sales service [4][5] - The establishment of offline experience stores by mainland platforms allows consumers to try products before purchasing, aligning with local shopping preferences [4] Market Dynamics - The competitive landscape is evolving, with mainland platforms enhancing their service offerings, including local return services and efficient delivery, which are crucial for building consumer trust [5][6] - The entry of lifestyle service platforms like Meituan and Didi into the Hong Kong market reflects a broader trend of integrating local and mainland consumer habits [6] Regional Economic Integration - The article discusses the transformation of Hong Kong from a traditional shopping hub to a cross-border e-commerce nexus, which is expected to stimulate economic growth in the Guangdong-Hong Kong-Macau Greater Bay Area [7]

Core Viewpoint - The rapid expansion of mainland e-commerce platforms into Hong Kong is transforming consumer behavior, making cross-border online shopping more accessible and affordable for Hong Kong residents, thereby enhancing economic integration within the Guangdong-Hong Kong-Macao Greater Bay Area [1][4]. Group 1: Consumer Behavior Changes - Hong Kong residents are increasingly engaging in cross-border online shopping, with many now purchasing daily necessities from mainland platforms due to lower prices and free shipping options [2][3]. - The introduction of free shipping policies by platforms like Taobao and Pinduoduo has significantly altered shopping habits, with many consumers now ordering multiple times a week [2][3]. - The variety of products purchased has expanded from clothing and small items to larger appliances and fitness equipment, indicating a shift in consumer confidence and willingness to shop online [2][3]. Group 2: Service Enhancements - Mainland e-commerce platforms are enhancing consumer trust by establishing offline experience stores in Hong Kong, allowing customers to try products before purchasing [3]. - The introduction of comprehensive service offerings, including local returns and efficient logistics, is addressing previous concerns about cross-border shopping, making it more appealing to Hong Kong consumers [3]. - High-quality service experiences, such as quick delivery and free installation for large appliances, are further solidifying the attractiveness of online shopping [3]. Group 3: Economic Integration and Market Dynamics - The growth of mainland e-commerce and service platforms in Hong Kong is fostering closer psychological ties between residents of Hong Kong and mainland China [4]. - Local businesses are adapting by enhancing their services and collaborating with mainland merchants, indicating a shift towards a more integrated market [4]. - Hong Kong is positioned to become a key hub for mainland brands looking to expand internationally, leveraging its unique advantages in internationalization and professional services [4].

Core Viewpoint - The article highlights the challenges faced by foreign trade enterprises and the proactive measures taken by Feier Intelligent to adapt to the changing international trade environment, particularly through innovative marketing strategies and market expansion efforts [1][4]. Group 1: Company Overview - Feier Intelligent specializes in fitness equipment and has successfully established itself in the cross-border e-commerce market, achieving significant sales milestones with products like abdominal machines and fat-burning machines, generating over $2 million and $10 million in sales respectively [1][2]. - The company originated in Yiwu, China, and has expanded its operations by establishing cross-border headquarters and R&D centers in Shenzhen and Hangzhou [2]. Group 2: Marketing and Sales Strategy - In response to market saturation and product similarity, Feier Intelligent shifted its marketing strategy to include storytelling through short videos and live streaming, which has significantly increased user engagement and sales [2]. - The company has adopted a "24-hour live streaming" format to ensure consistent sales and customer interaction, leading to viral success with some videos reaching over 5 million views [2]. Group 3: Market Challenges and Responses - Feier Intelligent faces uncertainties in the international trade environment, with 80% of its orders coming from the North American market, prompting the need for diversified strategies to mitigate risks [4]. - To address rising costs, the company is adjusting product prices, optimizing supply chain partnerships, and enhancing logistics through direct agreements with shipping companies [5]. Group 4: Global Expansion Efforts - The company is actively expanding into European and Latin American markets, forming specialized teams for market research and local operations, and planning to establish manufacturing facilities in Southeast Asia to reduce costs and diversify risk [5]. - Feier Intelligent is participating in global trade shows to showcase new products and attract potential partners, indicating a strong commitment to international growth [5].

创业板风险提示 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融 合存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险及本公 司所披露的风险因素，审慎作出投资决定。 江苏康力源体育科技股份有限公司 Jiangsu Junxia Gym Equipment Co., Ltd （住所：邳州市炮车街道办事处高新技术产业园滨湖大道北侧） 首次公开发行股票并在创业板上市 招股说明书 保荐人（主承销商） （江苏省常州市延陵西路 23 号投资广场 18 层） 江苏康力源体育科技股份有限公司 招股说明书 声 明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行 人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担 股票依法发行后因发行人经营与收益变化或 ...

本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融 合存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险及本公 司所披露的风险因素，审慎作出投资决定。 江苏康力源体育科技股份有限公司 Jiangsu Junxia Gym Equipment Co., Ltd （住所：邳州市炮车街道办事处高新技术产业园滨湖大道北侧） 首次公开发行股票并在创业板上市 招股说明书 （注册稿） 本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序。 本招股说明书不具有据以发行股票的法律效力，仅供预先披露之用。投资者 应当以正式公告的招股说明书作为投资决定的依据。 保荐人（主承销商） （江苏省常州市延陵西路 23 号投资广场 18 层） 创业板风险提示 江苏康力源体育科技股份有限公司 招股说明书（注册稿） 声 明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的 ...