在Kindle宣布退出中国市场3年多后，一家来自广州的"幸存者"正向资本市场证明，墨水屏这门生意不仅没死，还能做成一家有望上市的公司。 近日，广州文石信息科技股份有限公司（下称"文石"）向港交所递交招股书。 拆解文石的商业逻辑可以用"反Kindle"来形容。 不同于亚马逊试图通过"低价硬件+卖书回血"的封闭系统模式，文石的墨水屏产品主打开放系统，用户可以在应用商店中自由下载微信读书等各类 APP。 但光鲜的数据背后，亦有隐忧。 在Kindle离场的废墟之上，文石虽然捡漏了用户，却也不得不直面硬件制造"苦生意"的挑战：竞对的"机海战术"、上游巨头掣肘。 为了追上掌阅等厂商的上新速度，2024年、2025年文石分别发布了13款、9款新品，如此上新速度堪比国内主流手机厂商。 即便如此，2025年前三季度文石的收入同比增速仍仅为10%左右，落后于2024年全年的增速。 如今，文石正在开拓海外市场，要在Kindle的主场美国市场进行"真枪实弹"比拼，开放性系统思路能否在海外市场走通，正受到关注。 巨头与竞对的双重挤压 亚马逊旗下的水墨屏阅读器Kindle败走中国市场的往事还历历在目，其核心在于"剃刀与刀片"商业模式在中 ...

Amazon (AMZN) is the world's largest online retailer and a tech giant powering e-commerce, cloud computing via AWS, streaming entertainment, and digital devices like Kindle and Echo. It offers everything from books and groceries to electronics, with fast Prime delivery, Alexa voice tech, and AI innovations driving customer loyalty. Founded in 1994 by Jeff Bezos, the company is headquartered in Seattle, Washington, and operates in over 20 countries today with over 300 million Prime members. More News fro ...

1 Abroad shopping sprees are all set to leave your wallet a tad lighter, with effective customs duty on goods imported for personal use rising from 10% to 11%. Gifting an OMEGA Speedmas‑ ter Moonwatch CHRONO to your beloved for Val‑ entines, may now cost approximately Rs 8,000 more as compared to nearly Rs 8,04,384 earlier.2 Seventeen additional cancer drugs are now ex‑ empt from customs duty, giving new hope to patients. A box containing 20 doses of 15ml vial of Tremelimumab used to treat liver cancer pre‑ ...

Amazon.com Inc. (NASDAQ:AMZN) is one of the best Nancy Pelosi stocks to buy in 2026. On January 28, Evercore ISI analysts reiterated an Outperform rating on Amazon.com Inc. (NASDAQ:AMZN) and maintained a $335 price target. The positive stance underscores the research firm’s confidence about the company’s prospects amid strong traction in grocery sales. Amazon.com, Inc. (AMZN)’s Strategic Reset and Long-Term Growth Outlook rvlsoft / Shutterstock.com The e-commerce giant is increasingly refining its groce ...

导语：文石以开放系统挑战Kindle，却深度依赖屏幕垄断商元太科技。此次IPO背后，也显露出现金 流紧张、业绩艰难、大手笔分红等隐忧。 电子屏，越做越薄了 当亚马逊Kindle于2023年6月30日正式宣布退出中国市场的信号枪打响后，整个行业陷入沉寂。 彼时有不少人断言，墨水屏这门"小众生意"已然穷途末路，然而，市场却给出了相反答案。 以下文章来源于凤凰网科技 ，作者凤凰网科技 凤凰网科技 . 凤凰科技频道官方账号，带你直击真相。 与Kindle仅支持自有书店和有限格式不同，文石展开了一条开放与差异化的路线：其自研的 BOOXOS系统兼容TXT、PDF、EPUB等数十种格式，更能安装微信读书、Kindle阅读、百度网 盘等第三方应用，这是行业内第一款跳出纯阅读场景的墨水屏产品，彻底区别于Kindle的封闭生 态。 这种安卓开放系统打破了内容壁垒，让用户无需局限于单一平台的资源。 一位常驻美国的用户告诉凤凰网科技："海外市场几乎都是封闭系统，而文石是开放安卓系 统。"另一位用户也认为，文石系统做得不错，"虽然偶尔有奇怪的bug和残影，但整体来看性价 比很高"。 与定位为"电子书"载体的Kindle不同，文石跳出 ...

Core Insights - Amazon.ae is launching its annual Ramadan Sale from January 27 to February 14, featuring millions of deals across various categories including groceries, electronics, and fashion [1][8] Sales and Promotions - The sale will offer exclusive early access to Prime members starting January 27, with flexible payment options and instant bank discounts to enhance customer convenience during Ramadan [2][21] - Discounts of up to 50% are available on everyday essentials and groceries, with specific brands like Pampers and Nescafe included [10] - Kitchen and home appliances will see discounts of up to 50%, featuring brands such as Ninja and De'Longhi [11] - Electronics discounts reach up to 26% on items from brands like Samsung and Apple, while gaming products can be discounted by up to 29% [13] - Beauty and personal care products will have savings of up to 40%, with brands like L'Oreal Paris and Cetaphil participating [14][15] - Fashion items will be discounted by up to 35%, including brands like Calvin Klein and Michael Kors [16] Community and Social Responsibility - Amazon.ae is emphasizing community support during Ramadan, allowing customers to order Iftar boxes quickly via Amazon Now, which can also be sent to families in need [5][6][7] - The initiative aligns Amazon's logistics capabilities with social responsibility, reinforcing its commitment to value and social impact during the holy month [4][7] Delivery and Membership Benefits - Amazon Now offers rapid delivery options, with Prime members benefiting from free delivery on orders over Dhs25 and Rush 2-hour delivery on orders over Dhs100 [19][20] - Prime membership includes additional benefits such as free international delivery and access to Prime Video, available for Dhs16 per month or Dhs140 per year [20] Additional Savings Opportunities - Customers can maximize savings through instant bank discounts of up to 20% with specific credit cards, and Prime members can earn cashback on purchases [21][22] - Buy-Now, Pay-Later options are available, making larger purchases more manageable during the Ramadan season [22]

文石以开放系统挑战Kindle，却深度依赖屏幕垄断商元太科技。此次IPO背后，也显露出现金流紧张、业绩艰难、大手笔分红等隐忧。 电子屏，越做越薄了 当亚马逊Kindle于2023年6月30日正式宣布退出中国市场的信号枪打响后，整个行业陷入沉寂。彼时有不少人断言，墨水屏这门"小众生意"已然穷途末 路，然而，市场却给出了相反答案。 洛图科技的数据显示：2025年第三季度，全球电子纸平板出货量达1624.2万台，同比激增71.3%，中国市场虽受学习本品类萎缩影响，线上整体销量同比 下降11.6%，但核心的阅读器品类销量达64.7万台，同比大幅增长33.4%，销售额更是增长43.5%至8亿元。这个看似小众的赛道，实则藏着巨大的增长空 间。 墨水屏这个被Kindle验证过的细分领域，迅速被国内本土品牌文石、掌阅、科大讯飞（002230）等玩家分割。其中，一家名不见经传的南方公司表露出了 更大的野心：在海外市场站稳脚跟，并于2026年1月19日正式向港交所递交上市招股书，它就是文石（BOOX）。 与Kindle仅支持自有书店和有限格式不同，文石展开了一条开放与差异化的路线：其自研的BOOXOS系统兼容TXT、PDF、EP ...

Core Viewpoint - The article discusses the impact of Amazon's Kindle exit from the Chinese market, highlighting the opportunity it presents for domestic players like Guangzhou Wenshi Information Technology Co., Ltd. (Wenshi BOOX) to capture market share and innovate in the e-ink display sector [6][25]. Group 1: Company Overview - Wenshi BOOX submitted its IPO prospectus to the Hong Kong Stock Exchange in January 2026, aiming to tell a "Chinese version of Kindle" success story [6]. - In 2024, Wenshi's revenue reached 1.02 billion yuan, a year-on-year increase of 26.6%, with over 50% of its revenue coming from overseas markets, which grew by 33.8% [8]. - Wenshi has diversified its product offerings beyond pure reading devices, covering sizes from 6 inches to 25.3 inches, with productivity tablets contributing over 50% of its revenue [9]. Group 2: Financial Performance - Despite a 10% revenue increase in the first nine months of 2025, Wenshi's net profit declined by 4% [10]. - The company's sales expenses rose from 9.1% to 13.9%, indicating a need for high marketing investments to compete in a crowded market [10][24]. - Wenshi's adjusted net profits for 2023, 2024, and the first nine months of 2025 were 120 million yuan, 130 million yuan, and 120 million yuan, respectively [23]. Group 3: Market Position and Strategy - The global market for knowledge-focused productivity tools is projected to grow from 10.7 billion yuan in 2020 to 29.1 billion yuan in 2024, with Wenshi being the second-largest globally and the largest in China [26][27]. - Wenshi's strategy includes positioning itself as a "knowledge-focused productivity tool" rather than just a reading device, with three main revenue sources: productivity tablets, high-speed readers, and software services [17][29]. - The company has emphasized AI and ecosystem development in its fundraising efforts, recognizing the need to address its software shortcomings [14][22]. Group 4: Competitive Landscape - The exit of Kindle has led to increased competition in the e-ink market, with various players adopting different strategies, from conservative to aggressive approaches [29]. - Wenshi's competitive advantage lies in its comprehensive product range and global market presence, but it faces challenges in content ecosystem and vertical technology [30][31]. - The supply chain risk is significant, as over 90% of e-paper module production is controlled by a single supplier, E Ink Holdings, which also holds a stake in Wenshi [31].

Core Viewpoint - The article discusses the IPO of Guangzhou Wenshi Information Technology Co., Ltd. (Wenshi Information), highlighting its growth in the e-paper technology market amid challenges such as fluctuating profits and cash flow issues [2][4][12]. Financial Performance - Wenshi Information's revenue is projected to grow from RMB 804 million in 2023 to RMB 1.018 billion in 2024, but net profit is expected to decline slightly from RMB 124 million to RMB 121 million, indicating a "revenue without profit" situation [5][7]. - The company's cash flow from operating activities turned negative, dropping from RMB 14.08 million in 2024 to -RMB 41.21 million in 2025, raising concerns about its financial stability [8][10]. Market Position and Strategy - Wenshi Information targets knowledge workers, such as students and professionals, differentiating itself from competitors like Amazon's Kindle by offering an open Android system that allows for a wider range of applications [4][5]. - The company has established a unique ecosystem with significant backing from major players like Lenovo and E Ink Holdings, which also serves as a key supplier [12][13]. Challenges and Risks - The company faces structural challenges in the e-paper industry, including increased inventory turnover days and high accounts receivable, which may impact its operational efficiency [2][3]. - Wenshi Information's reliance on external markets is significant, with nearly 60% of its revenue coming from overseas, which exposes it to global market fluctuations [13][15]. - The aggressive dividend policy, with a total of RMB 1 billion distributed in dividends despite negative cash flow, raises concerns about the company's financial health and sustainability [15][16]. Future Outlook - As Wenshi Information approaches its IPO, it aims to leverage international financing and technology valuation benefits, but it must navigate a competitive landscape and address internal technological challenges [16][17].

Group 1: Retail Stocks Overview - Seven retail stocks to watch include Amazon.com, American Noble Gas, Costco Wholesale, Carvana, Walmart, Home Depot, and PDD, as identified by MarketBeat's stock screener tool [2] - Retail stocks are primarily traded by individual investors, leading to significant short-term price fluctuations compared to stocks dominated by institutional investors [2] Group 2: Company Profiles - **Amazon.com (AMZN)**: Engages in retail sales of consumer products, advertising, and subscription services through online and physical stores, operating in three segments: North America, International, and Amazon Web Services (AWS) [3] - **American Noble Gas (INFY)**: Infosys Ltd. provides end-to-end business solutions across various sectors, including Financial Services, Retail, and Life Sciences [4] - **Costco Wholesale (COST)**: Operates membership warehouses globally, offering a range of branded and private-label products [4] - **Carvana (CVNA)**: Operates an e-commerce platform for buying and selling used cars, providing services such as vehicle inspection and financing [5] - **Walmart (WMT)**: Engages in retail and wholesale operations worldwide, with segments including Walmart U.S., Walmart International, and Sam's Club [6] - **Home Depot (HD)**: Functions as a home improvement retailer, selling building materials and offering installation services for various home products [7] - **PDD (PDD)**: Operates Pinduoduo and Temu, e-commerce platforms offering a wide range of products, including agricultural produce and household goods [8]