人民日报记者 邓建胜 徐红梅 白光迪 "外销增速在30%左右。我们拼的不是价格，而是质量。"扬杰电子科技股份有限公司副董事长梁瑶 介绍，目前公司在越南启动了二期工厂建设，还计划在马来西亚、泰国投资晶圆工厂。 常熟市的小微外贸商户，则借助制度创新打开了新天地。 服饰商行经营者陈跃，在"市采通"（常熟市中小微企业跨境贸易综合服务）平台上传了交易单，一 批服装产品正准备发往国外。"以前做外贸，要跑海关、找第三方代办，既麻烦又有风险。现在，一个 平台就搞定了。"陈跃说。 作为全国市场采购贸易试点的创新之举，常熟"市采通"平台为中小微企业打造了一个集商户注册、 商品采购、组货拼箱、通关申报、收汇结汇、免税申报及供应链金融于一体的"一站式"出口服务解决方 案。自2020年以来，该平台年出口额从10亿美元增长至150多亿美元。 冬日午后，汽笛长鸣。一列满载汽车零部件的中吉乌班列，从江苏省连云港市上合组织国际物流园 驶出。车厢里，整齐排列的货物将运抵中亚市场。 目光南移，长江入海口的太仓港岸桥起落，数千辆国产汽车驶上远洋巨轮，准备发往欧洲、东南 亚。 一北一南，一车一船，江苏外贸在这个冬天里热气腾腾。 "江苏产业体系比较完备 ...

Core Viewpoint - Jiangsu's foreign trade demonstrates strong resilience despite uncertainties in the external trade environment, with a total import and export value of 4.88 trillion yuan from January to October, accounting for 13.1% of the national total and contributing over 20% to the national export growth [2] Group 1: Market Expansion - Jiangsu is focusing on opening new markets and promoting industries and enterprises to go global, with companies like Yangjie Electronics producing around 30 million power semiconductor chips daily for overseas markets, achieving a 30% growth in export [3] - The "Shicaitong" platform in Changshu has facilitated small and micro foreign trade businesses, increasing its export value from 1 billion USD in 2020 to over 15 billion USD, streamlining the export process for local merchants [4] - Jiangsu's imports and exports to countries involved in the Belt and Road Initiative reached 2.44 trillion yuan, a year-on-year increase of 11.7%, while trade with ASEAN countries grew by 22.1% [4] Group 2: New Business Models - The cross-border e-commerce sector in Suzhou's Shengze Town has seen a significant increase, with a 225.4% year-on-year growth in import and export value, reaching 3.635 billion yuan from January to September [5] - Companies are leveraging digital channels and innovative business models, such as overseas warehouses and data-driven marketing, to enhance their international sales, with Jiangsu's cross-border e-commerce platforms experiencing over 60% growth in imports and exports [5] Group 3: Competitive Advantages - Jiangsu companies are enhancing their competitive edge through innovation and quality control, with firms like Borui Electric holding over 700 patents and participating in the formulation of international standards, while Yadea focuses on quality and adapts products for Southeast Asian markets [6] - The region's effective invention patent count remains among the highest in the country, with advanced manufacturing clusters contributing over 60% of these patents, indicating a strong foundation for high-quality development [7]

开拓新市场，推动产业和企业走出去 在扬州市扬杰电子科技股份有限公司的生产线上，芝麻粒大小的功率半导体芯片正源源不断地产出。每 天，约3000万只芯片从这里发往欧美等海外市场。 "外销增速在30%左右。我们拼的不是价格，而是质量。"扬杰电子科技股份有限公司副董事长梁瑶介 绍，目前公司在越南启动了二期工厂建设，还计划在马来西亚、泰国投资晶圆工厂。 常熟市的小微外贸商户，则借助制度创新打开了新天地。 冬日午后，汽笛长鸣。一列满载汽车零部件的中吉乌班列，从江苏省连云港市上合组织国际物流园驶 出。车厢里，整齐排列的货物将运抵中亚市场。 目光南移，长江入海口的太仓港岸桥起落，数千辆国产汽车驶上远洋巨轮，准备发往欧洲、东南亚。 一北一南，一车一船，江苏外贸在这个冬天里热气腾腾。 "江苏产业体系比较完备，创新能力较强，营商环境优良，还有自贸试验区等一大批高水平开放平台。 在对外贸易环境不确定性较大的背景下，江苏外贸依然展现出较强的韧性。今年1至10月，进出口总额 达4.88万亿元，占全国比重达13.1%，贡献了全国两成多的出口增量。"江苏省委书记信长星说。 围绕稳外贸，江苏着力在"新"字上做文章，开拓新市场、壮大新业态、培育 ...

Group 1 - Tianyuan Pet's stock increased by 5.03%, reaching 30.92 CNY per share, with a trading volume of 1.10 billion CNY and a turnover rate of 7.14%, resulting in a total market capitalization of 3.924 billion CNY [1] - The company, founded on June 11, 2003, is based in Hangzhou, Zhejiang Province, and was listed on November 18, 2022. Its main business involves the design, development, production, and sales of pet products, with a focus on expanding into pet food sales [1] - The revenue composition of Tianyuan Pet includes 46.60% from pet food, 18.36% from other products, 15.00% from cat climbing frames, 10.57% from pet beds, and 9.46% from pet toys [1] Group 2 - The Tongtai Huize Mixed A Fund (008050) has increased its holdings in Tianyuan Pet by 32,500 shares, bringing the total to 45,900 shares, which represents 8.19% of the fund's net value, making it the seventh-largest holding [2] - The fund has reported a floating profit of approximately 67,900 CNY from its investment in Tianyuan Pet [2] - The fund has experienced a loss of 0.55% year-to-date, ranking 8073 out of 8219 in its category, and a loss of 1.58% over the past year, ranking 7808 out of 8125 [2]

Core Viewpoint - The company, Zhiyou Technology, is experiencing a decline in stock price and trading volume, while its business model focuses on cross-border e-commerce and pet products, benefiting from the depreciation of the RMB [1][4]. Business Overview - Zhiyou Technology specializes in the research, design, and sales of home products, with a primary revenue source from cross-border e-commerce retail, accounting for 99.09% of total revenue [7]. - The company offers a range of products, including outdoor furniture, leisure items, and pet furniture, which are categorized into home, leisure, and pet series [2][3]. Financial Performance - As of September 30, 2025, Zhiyou Technology reported a revenue of 6.08 billion yuan, representing a year-on-year growth of 6.18%, while the net profit attributable to shareholders decreased by 2.09% to 272 million yuan [8]. - The company has a high overseas revenue ratio of 98.88%, benefiting from the depreciation of the RMB [3]. Market Activity - On November 4, the stock price of Zhiyou Technology fell by 1.06%, with a trading volume of 29.36 million yuan and a market capitalization of 7.53 billion yuan [1]. - The stock has seen a net outflow of funds, with a decrease in major shareholder holdings over the past three days [4][5]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 7.59% to 10,500, while the average circulating shares per person increased by 8.21% to 18,473 shares [8].

Core Viewpoint - The company, Zhiyou Technology, has shown a positive performance in the stock market, with a recent increase of 1.13% in share price and a total market capitalization of 7.57 billion [1] Group 1: Company Overview - Zhiyou Technology specializes in the research, design, and sales of home products, primarily through cross-border e-commerce, with 99.09% of its revenue coming from this sector [7] - The company was established on January 8, 2010, and went public on June 21, 2023 [7] - As of September 30, the company had 10,500 shareholders, a decrease of 7.59% from the previous period [8] Group 2: Financial Performance - For the period from January to September 2025, Zhiyou Technology achieved a revenue of 6.08 billion, reflecting a year-on-year growth of 6.18%, while the net profit attributable to shareholders was 272 million, a decrease of 2.09% [8] - The company has distributed a total of 321 million in dividends since its A-share listing [9] Group 3: Market Position and Strategy - The company has developed a differentiated cross-border e-commerce logistics system, establishing self-operated warehouses in countries like Germany and the USA, enhancing operational efficiency and customer satisfaction [2][3] - Zhiyou Technology's product offerings include a range of outdoor and pet-related items, capitalizing on trends in camping, social media influence, and the pet economy [2][3] Group 4: Stock Performance and Investor Sentiment - The stock has seen a net outflow of 2.28 million from major investors, indicating a lack of strong control over the stock by major players [4][5] - The average trading cost of the stock is 19.37, with the current price near a support level of 18.80, suggesting potential volatility [6]

Core Viewpoint - Tianyuan Pet (301335.SZ), known as the "first stock in pet supplies," reported a revenue of 2.323 billion yuan for the first three quarters of this year, reflecting a year-on-year growth of 14.18%, while the net profit attributable to shareholders was 56 million yuan, up 3.4% year-on-year [2] Financial Performance - For the first three quarters, Tianyuan Pet's revenue was 2.323 billion yuan, with a year-on-year increase of 14.18% [2] - The company's net profit attributable to shareholders was 56 million yuan, showing a year-on-year growth of 3.4% [2] - In comparison, the top three listed companies in the pet industry showed varying performance, with Guai Bao Pet achieving 4.737 billion yuan in revenue (up 29.03%) and Zhong Chong Co. reaching 3.86 billion yuan (up 21.05%) [3] Expense Analysis - Tianyuan Pet's sales expenses surged to 254 million yuan, a year-on-year increase of 43.49%, exceeding last year's total of 249 million yuan [3] - Management expenses rose by 35.07% to 81.79 million yuan, primarily due to increased personnel salaries, depreciation, and consulting fees [3] - Financial expenses increased significantly by 103.34% to 19.11 million yuan, attributed to higher bank loan interest payments [3] Profitability Concerns - The rapid growth of expenses outpaced revenue growth, leading to a net profit margin of only 2.08%, lower than the same period last year and significantly below that of Guai Bao Pet and Zhong Chong Co. [4] - In the third quarter, Tianyuan Pet faced a "revenue without profit" situation, with sales expenses nearing 100 million yuan against a revenue of 888 million yuan (up 13.54%), resulting in a net profit decline of 19% to 18.87 million yuan [4] Strategic Moves - In May, Tianyuan Pet announced a restructuring plan to acquire 89.7145% of Taotong Technology for 688 million yuan, aiming to enhance its online channel operations and boost domestic business [4] - The pet food segment is currently the largest market demand category, with Tianyuan Pet actively expanding its presence [4] Market Position and Challenges - From 2020 to 2024, Tianyuan Pet's pet food revenue is projected to grow from 269 million yuan to 1.176 billion yuan, increasing its revenue share from 18.5% to 42.5%, with the ratio further rising to 46.5% in the first half of this year [4] - However, the profitability of Tianyuan Pet's pet food business is relatively low, with a gross margin of 17.37%, significantly below the 30% margins of leading competitors Guai Bao Pet and Zhong Chong Co. [5] - Unlike its competitors, Tianyuan Pet primarily relies on third-party brands for revenue, indicating a need for greater investment in its own brand to improve market positioning [5]

Group 1 - Tianyuan Pet's stock increased by 2.01% on October 10, with a trading volume of 129 million yuan. The margin trading data shows a financing buy amount of 11.08 million yuan and a financing repayment of 16.25 million yuan, resulting in a net financing buy of -5.17 million yuan. The total margin trading balance as of October 10 is 127 million yuan [1] - The financing balance of Tianyuan Pet is 127 million yuan, accounting for 7.91% of its circulating market value, which is above the 60th percentile level over the past year, indicating a relatively high position [1] - As of October 10, there were no shares sold or repaid in the securities lending segment, with a lending balance of 0.00 yuan, which is above the 90th percentile level over the past year, indicating a high position [1] Group 2 - As of June 30, the number of shareholders of Tianyuan Pet reached 17,700, an increase of 28.43% compared to the previous period. The average circulating shares per person decreased by 20.98% to 2,853 shares [2] - For the first half of 2025, Tianyuan Pet achieved an operating income of 1.435 billion yuan, a year-on-year increase of 14.59%, and a net profit attributable to the parent company of 37.46 million yuan, a year-on-year increase of 20.14% [2] - Since its A-share listing, Tianyuan Pet has distributed a total of 125 million yuan in dividends. As of June 30, 2025, Hai Fudong Growth Value Mixed Fund (010286) is the sixth largest circulating shareholder with 334,400 shares, and Hai Fudong Selected Mixed Fund (519011) is the seventh largest with 327,700 shares, both being new shareholders [3]

Core Viewpoint - The company, Zhiyou Technology, is experiencing fluctuations in stock performance and is leveraging various economic trends such as camping, influencer marketing, cross-border e-commerce, and the pet economy to enhance its business model [2][4]. Group 1: Company Overview - Zhiyou Technology was established on January 8, 2010, and is located in Zhengzhou, Henan Province. The company specializes in the research, design, and sales of its own brand home products [7]. - The main business revenue composition includes 99.09% from cross-border e-commerce retail and 0.91% from other sources [7]. - As of June 30, 2023, the company had 11,300 shareholders, an increase of 26.05% from the previous period, with an average of 17,072 circulating shares per person, a decrease of 20.35% [8]. Group 2: Financial Performance - For the first half of 2025, Zhiyou Technology achieved a revenue of 4.044 billion yuan, representing a year-on-year growth of 8.68%, and a net profit attributable to shareholders of 190 million yuan, up 11.03% year-on-year [8]. - The company has distributed a total of 321 million yuan in dividends since its A-share listing [8]. Group 3: Market Position and Strategy - The company has established a differentiated competitive advantage in its cross-border e-commerce export logistics system, which includes domestic and overseas self-operated warehouses, platform warehouses, and third-party cooperative warehouses [2][3]. - As of November 23, 2023, the company has collaborated with influencers on platforms like TikTok to promote its products, although the sales contribution from these efforts is currently small [2]. - The company’s overseas revenue accounted for 98.88% of its total revenue, benefiting from the depreciation of the RMB [3]. Group 4: Stock Performance and Market Sentiment - On September 26, 2023, Zhiyou Technology's stock fell by 4.27%, with a trading volume of 96.8764 million yuan and a market capitalization of 7.75 billion yuan [1]. - The stock's average trading cost is 19.48 yuan, with a current price near the support level of 19.16 yuan, indicating potential volatility [6].

Group 1 - A cargo ship carrying 40 containers of formaldehyde-free density fiberboard arrived at Port of Pasir Gudang, Malaysia, indicating the global market integration of the wood industry in Heze, Shandong Province [1] - The 20th China Timber Products Trade Fair attracted 778 exhibitors and over 20,000 buyers, showcasing a vibrant atmosphere for negotiations and contracts [1] - The fair serves as a national-level forestry exhibition, the largest and most comprehensive in China, with Heze as its permanent venue, having successfully hosted 19 previous editions [3] Group 2 - Companies are increasingly focusing on ecological responsibility and consumer health, with products like moisture-proof and flame-retardant boards transitioning towards greener and higher-end solutions [2] - The fair provided a global platform for businesses, with international buyers expressing interest in high-quality Chinese furniture, highlighting the craftsmanship and reliability of Chinese manufacturing [3] - The event facilitated significant transactions, with over 40 foreign buyers attending and achieving an intended transaction amount exceeding 80 million yuan on the opening day [3] Group 3 - Cao County has developed into a billion-yuan level base for board processing, expanding from traditional paulownia wood processing to include pet furniture and other innovative products [4] - The fair showcased a variety of pet home products, reflecting the high-quality demands of modern pet consumers [4] - The Shandong government aims to leverage wood resources, enhance technological empowerment, and promote high-quality development in the forestry sector [6]