Group 1 - The Chengdu World Games showcased lesser-known sports, creating a unique atmosphere that attracted public interest and participation [1][2] - The event featured "part-time athletes" who balanced their sports with everyday jobs, contributing to a relaxed and relatable competition environment [2][4] - The innovative event settings, such as competitions held in cornfields, emphasized a grassroots connection to the community [2][4] Group 2 - Ten brands, including Xtep, Li Ning, and Peak, strategically positioned themselves during the event, leveraging the popularity of niche sports for marketing opportunities [8][11] - Xtep was the first global partner, providing uniforms for various roles within the event, while Li Ning incorporated local culture into their designs [8][11] - Peak and other brands explored international sponsorships and targeted niche sports to differentiate themselves in the competitive landscape [13][15] Group 3 - The legacy of the World Games lies in the potential for niche sports to gain traction and sustainability in the community post-event [16][18] - The rapid growth of the frisbee community during the event indicates a strong interest in maintaining these sports, with permanent facilities being established [16][18] - The future success of these sports will depend on youth engagement and continued brand investment, highlighting a shift in public perception of sports beyond traditional Olympic events [18][20]

Group 1: Event Overview - The 12th Chengdu World Games showcases a blend of traditional and modern sports, featuring events like martial arts, dragon boat racing, and emerging sports such as disc golf and parkour [6][9] - The event includes both Olympic and non-Olympic sports, highlighting the diversity and excitement of various competitions [6] Group 2: Lacrosse - The Chinese women's lacrosse team finished eighth after losing to Ireland, marking their first official competition as a national team [7][9] - Lacrosse combines elements of soccer, basketball, and field hockey, with a fast-paced format requiring teams to score within 30 seconds of gaining possession [7] - The team, composed mainly of young athletes from universities, views the event as a valuable learning opportunity despite the challenges faced against stronger teams [9] Group 3: Lifesaving - The lifesaving competition at the World Games includes events like the 50m manikin rescue and 100m mixed rescue, showcasing athletes' skills in water rescue [10][11] - Lifesaving has evolved from a rescue action to a competitive sport, with its introduction to the World Games in 1985 and to China in 1998 [10] Group 4: Water Skiing - Chinese athlete Xu Lu won gold in the women's wakeboarding freestyle event, while teammate Zhuang Tiancai secured silver in the men's wake surfing style event [12][13] - Wakeboarding is gaining popularity in China, with a significant increase in the number of clubs dedicated to the sport [14] Group 5: Trampoline - The Chinese duo Hu Yicheng and Zhang Xinxin won gold in the women's synchronized trampoline event, achieving the highest score of 51.340 [15] - The World Games features a broader range of trampoline events compared to the Olympics, including synchronized and double trampoline competitions [15] Group 6: Disc Golf - Disc golf, likened to "flying disc golf," involves players throwing discs through a course with natural obstacles, aiming to complete the course in the fewest throws [16][17] - The sport emphasizes respect and sportsmanship, with players acknowledging each other's performance at the end of matches [16] Group 7: Latin Dance - Latin dance, which includes various styles such as samba and cha-cha, was a highlight of the World Games, with the German and French teams winning gold and silver respectively [18] - The event attracted a diverse audience, reflecting the growing interest in Latin dance as a form of both sport and art [18]

Core Viewpoint - The company, Zhiyou Technology, has established a competitive advantage in cross-border e-commerce through its differentiated logistics system and has seen significant growth in overseas revenue due to the depreciation of the RMB [2][3]. Group 1: Company Overview - Zhiyou Technology was founded on January 8, 2010, and is located in Zhengzhou, Henan Province. It was listed on June 21, 2023, and focuses on the research, design, and sales of its own brand home products [7]. - The company's revenue composition includes: furniture series 51.68%, home series 36.35%, pet series 8.32%, outdoor sports 2.52%, and others 1.13% [7]. - As of May 9, the number of shareholders is 8,995, a decrease of 3.46% from the previous period, with an average of 21,432 circulating shares per person, an increase of 3.58% [8]. Group 2: Financial Performance - For the first quarter of 2025, Zhiyou Technology achieved a revenue of 2.091 billion yuan, a year-on-year increase of 13.56%, and a net profit attributable to shareholders of 111 million yuan, up 10.30% 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 developed a cross-border e-commerce export logistics system that includes domestic and overseas self-operated warehouses, platform warehouses, and third-party cooperative warehouses, enhancing operational efficiency and customer satisfaction [2]. - Zhiyou Technology has collaborated with influencers on platforms like TikTok to promote its products, although the current sales contribution from these collaborations is relatively small [2][3]. - The company’s overseas revenue accounts for 98.88% of its total revenue, benefiting from the depreciation of the RMB [3].

Core Viewpoint - The 12th World Games will open on August 7 in Chengdu, Sichuan, with China sending a delegation of 321 athletes to compete in 28 sports and 152 events, showcasing the highest level of non-Olympic international sports competition [1] Group 1: Athlete Highlights - Bai Yulu, a 23-year-old snooker player, won the 2025 WWS World Women's Snooker Championship and is ranked third in the world, becoming the highest-ranked female player in the World Snooker Tour [1] - Liu Qingyi, a prominent breakdancer, achieved fourth place at the 2022 World Games and is now a bronze medalist at the 2024 Paris Olympics and gold medalist at the 2023 Hangzhou Asian Games [2] - Shang Chunsong transitioned from gymnastics to parkour, winning the women's freestyle championship at the 2024 Parkour World Cup in Montpellier, marking a significant achievement in her new sport [3] - Zhang Hao, a 25-year-old roller skater from Chengdu, has won multiple championships, including the mixed freestyle roller skating gold at the 2023 Hangzhou Asian Games [4] - Zhang Siqian, a leading figure in Chinese fin swimming, won multiple medals at the 2022 World Games and continued to excel in various competitions leading up to the 2024 events [5][6] - Deng Lijuan, a key member of the Chinese climbing team, aims for gold in the speed climbing events at the Chengdu World Games, having previously secured a silver medal at the 2024 Paris Olympics [6] - Hu Yicheng, a trampoline athlete, aims to bounce back from a disappointing performance at the 2024 Paris Olympics, having recently won gold in both individual and team events at national competitions [7]

Group 1: Event Overview - The 12th World Games (Chengdu World Games) will open on August 7, featuring gymnastics events that will award a total of 19 gold medals [1] - The Chinese team aims to achieve good results in four gymnastics sub-events: aerobics, acrobatics, trampoline, and parkour [1][2] Group 2: Participation and Competitors - In acrobatics, the Chinese team has secured spots for four male and three female athletes, competing against participants from Azerbaijan, Belgium, and other countries [1] - The Chinese aerobics team will consist of 12 athletes (7 males and 5 females) competing in three categories: trio, five-person, and aerobic dance [1] - The parkour event will feature 24 athletes from 18 countries, with Chinese athletes Shang Chunsong and Fu Sida representing the team [3] Group 3: Training and Preparation - The national parkour training team has begun closed training at a base in Qinhuangdao since July 1, preparing for the upcoming competition [3] - The acrobatics project has seen a resurgence in participation due to measures like deepening the integration of sports and education, and adjusting competition regulations [2] Group 4: Recent Achievements and Future Goals - The Chinese acrobatics team recently won 5 golds and 1 bronze at the 2024 Acrobatics World Championships, marking a return to team gold after 25 years [2] - The Chinese aerobics team aims to break personal records and achieve good results in all three categories at the World Games [2]

Core Viewpoint - The company is actively expanding its international market presence while maintaining growth in domestic business through various strategies, including product innovation and supply chain optimization [1][2][3][4] Group 1: International Market Expansion - The company is focusing on maintaining and expanding relationships with international key clients through OEM/ODM models, cross-border e-commerce, and proprietary brands like SKYWLKER and SPORTSOUL [1] - The establishment of a factory in Vietnam is progressing steadily, which will enhance the company's global supply chain and support its "globalization + digitalization" strategy [2] Group 2: Domestic Business Growth - The company aims to increase its domestic market share by developing new products and entering new fields, particularly in leisure sports and fitness equipment [1] - The company is integrating into the domestic economic cycle by focusing on health and wellness sectors, especially targeting the aging population [1] Group 3: Response to Tariff Changes - The company is monitoring changes in U.S.-China tariffs and plans to maintain close communication with U.S. clients to adjust orders accordingly [3] - Strategies to reduce reliance on the North American market include enhancing customer development in non-U.S. markets and accelerating domestic market share through innovative products [3] Group 4: Financial Performance - In Q1 2025, the company reported a main revenue of 138 million yuan, a year-on-year decrease of 12.34%, and a net profit attributable to shareholders of 6.526 million yuan, down 46.61% [4] - The company's gross profit margin stands at 21.21%, with a debt ratio of 17.11% [4]

Group 1: Market Expansion Strategies - The company is actively maintaining and expanding international major clients through OEM/ODM models, cross-border e-commerce, and proprietary brands like SKYWALKER and SPORTSOUL, targeting high-potential markets in the Americas, Europe, Southeast Asia, and Australia/New Zealand [2] - In parallel, the company is developing new products and expanding into new fields to adapt to domestic market demands, gradually increasing the domestic market share [2] - The company focuses on main products such as trampolines and basketball hoops to expand the domestic market while integrating into the domestic economic cycle through health and aging economy initiatives [2] Group 2: Global Supply Chain and Production - The company has established Sanboshuo Health Technology (Vietnam) Co., Ltd. to deepen its global supply chain layout, with the construction of the Vietnam factory progressing steadily, becoming a key support for overseas operations [4] - This factory will enhance cross-regional collaboration efficiency and support the resilience and agility of the domestic and international supply chain "dual circulation" strategy [4] Group 3: Response to Tariff Changes - The company is monitoring the recent U.S.-China tariff adjustments, which include a 24% tariff on Chinese goods being suspended for the first 90 days, while retaining a 10% tariff [4] - Future strategies include maintaining close communication with U.S. clients for order adjustments, developing non-U.S. markets (Europe, Asia), and increasing domestic market share through innovative products and services [4] - The company plans to accelerate the establishment of overseas production bases to reduce trade barriers and logistics costs, as well as pursue domestic mergers and acquisitions to achieve industry chain synergy [4] Group 4: Technological Integration - The company is focusing on integrating new technologies such as AI and robotics with sports health technology to enhance product intelligence and user experience [3]

Industry Overview - The trampoline industry in China is experiencing steady growth, with the market size expected to exceed 10 billion yuan by 2024, up from approximately 9.52 billion yuan in 2020 [1][12] - The home trampoline market is rapidly expanding due to increasing demand for home fitness and children's entertainment [1][12] - The commercial trampoline market is also growing, driven by the rise of trampoline parks and entertainment venues [1][12] - The professional trampoline market, while smaller, is showing stable growth as the number of professional athletes and trampoline events increases [1][12] Industry Chain Analysis - The trampoline industry chain includes upstream raw material suppliers, midstream manufacturers, and downstream sales and service providers [4] - Upstream suppliers provide essential materials such as metals, elastic materials, and components like springs and protective nets [4] - Midstream manufacturers focus on the design, production, assembly, and testing of trampolines, ensuring safety and entertainment value [4] - Downstream activities involve diverse sales channels, including e-commerce and physical stores, along with after-sales services [4] Historical Development - The trampoline industry in China has evolved through several stages, from its introduction in the 1980s to rapid expansion from 2011 to 2020 [6] - The current phase (2020-present) is characterized by transformation and regulation, with a focus on online business and adherence to safety and quality standards [6] Current Market Analysis - The trampoline market is expanding due to rising living standards and health-conscious entertainment demands [12] - The home trampoline segment is seeing significant sales growth, while commercial trampoline parks are increasing in number [12] - The professional trampoline segment is also growing, supported by more athletes and events [12] Key Companies - Qingdao Sanboshou focuses on both home and commercial trampolines, with over 50% of its revenue from trampoline products [16] - Wuhu Fushide targets the mid-to-high-end market, offering customized trampoline solutions for families and commercial venues [18] - Xiaofeixia specializes in children's trampolines, emphasizing safety and creative designs [16] - Zhejiang Tianzhixin covers a wide range of trampoline products, focusing on quality and cost-effectiveness [16] - Zhejiang Meiqi emphasizes large-scale commercial trampoline parks, providing diverse equipment for various entertainment needs [16] - Jiangsu Baoxiang focuses on professional trampolines and training equipment, adhering to international standards [16] Future Development Trends - Safety and quality improvements are a priority, with manufacturers enhancing materials and production processes to ensure stability and durability [20] - The industry is diversifying, with new formats like trampoline parks and fitness courses emerging to cater to various consumer needs [21] - Environmental sustainability is becoming increasingly important, with manufacturers adopting recyclable and biodegradable materials [22]