投资者关系活动详情 本次投资者关系活动类别为业绩说明会，时间为2025年9月12日（周五）下午15:00 - 17:00，地点为通过 全景网"投资者关系互动平台"（https://ir.p5w.net）采用网络远程方式进行。参与单位为投资者网上提 问，上市公司接待人员包括董事长、总经理李勇，董事、财务负责人李玉霞，董事会秘书王月娣以及独 立董事杨波。 9月12日，跨境通宝电子商务股份有限公司通过全景网"投资者关系互动平台"以网络远程方式召开业绩 说明会，众多投资者通过网上提问的方式参与此次活动。公司董事长、总经理李勇等多位高层管理人员 出席，就公司业务重点、业绩提升措施、财务状况等诸多投资者关心的问题进行了详细解答。 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sin ...

Core Viewpoint - The company, Kuaijingtong, reported a slight revenue decline and reduced losses in its 2025 semi-annual report, with a focus on its core maternal and infant business as a key driver for recovery [1][2]. Group 1: Financial Performance - In the first half of 2025, Kuaijingtong achieved a revenue of 2.631 billion yuan, a year-on-year decrease of 9.88%, while the net profit attributable to shareholders was a loss of 6.9242 million yuan, representing a significant reduction in losses by 71.07% [1]. - The net profit margin improved to -0.22%, an increase of 0.17 percentage points compared to the same period last year, indicating enhanced capital efficiency [1]. - In Q2, revenue fell to 1.377 billion yuan, with a year-on-year decline of 16.18%, and the net profit attributable to shareholders dropped by 133.1% [2]. Group 2: Business Composition - The maternal and infant segment accounted for 92.33% of total revenue, generating 2.428 billion yuan, significantly outperforming the apparel and home categories, which only contributed 7.67% [3]. - The company has established a robust supply chain and channel resources through the operation of well-known brands like "Aptamil" and "Nutricia" [3]. Group 3: Inventory and Profitability - Kuaijingtong's inventory decreased by 57.91% compared to the end of the previous year, improving inventory turnover efficiency, which is closely related to the fast turnover characteristics of the maternal and infant category [3]. - The overall gross margin increased to 11.91%, up by 0.26 percentage points year-on-year, with Q2 gross margin reaching 12.30% [3]. Group 4: Future Growth Potential - Contract liabilities increased by 31.42%, indicating future revenue potential primarily from maternal and infant product orders [4]. - The company aims to deepen supply chain advantages, optimize channel layouts, and expand its product matrix to enhance customer value [7]. Group 5: Cost Management and Risks - Despite showing resilience in the maternal and infant business, Kuaijingtong faces challenges in achieving profitability, with a period expense of 291 million yuan, a decrease of 21.21 million yuan year-on-year, but the expense ratio rose to 11.06% [5]. - The company’s goodwill reached 1.178 billion yuan, 1.37 times its net assets, indicating potential impairment risks if subsidiary performance does not meet expectations [6].

从跨境电商领跑到艰难止亏，跨境通半年报显示亏损收窄至400万-750万。但亏损收窄背后，跨境通依旧面临业务疲态：老化的品牌流失用户，节流之余跨 境通亟须造血新动能。 近日，跨境通发布2025年上半年业绩预告，尽管预计归属于上市公司股东的净利润及扣非后净利润，较去年同期均有明显改善。但亏损局面仍未完全扭 转，2025年上半年跨境通预亏400万至750万元。 公告显示，本期亏损收窄主因出口业务中自营平台推广投入减少。压缩投放成本带来止损功效的同时，一来从侧面反映出跨境通目前对于流量的依赖，二 来也反映出流量转化率并不高。 数据显示，亚马逊第三方卖家广告支出远高于品牌方，且投放ROI走低，对跨境通压力尤甚。另一方面，曾被跨境通视作明星代表的ZAFUL，也面临着失 速：复购率低、用户黏性不足，广告投放不足后流量流失、订单也随之减少。财报显示，2024年，由于推广投入减少，ZAFUL实现营业收入同比下降 77.60%，至3573.91万元。 去年亏了4个多亿，主力业务造血不足 账面亏损收窄，基本面上跨境通依旧乏力。 回顾2024年年报，跨境通处境不佳：全年营收57.19亿元，进口业务占比超九成，出口业务仅占6.24%； ...

龙虎榜机构热股 今天机构龙虎榜上榜32只个股，净买入18只，净卖出14只。当日机构买入最多的个股前三位是：跨境通（2.28亿）、常山药业（3日1.72亿）、热景生物 （1.1亿）。 | 上榜热股 | 实时涨跌幅 | 买/卖家数 | 机构 | | --- | --- | --- | --- | | 跨境通 002640.SZ | +10.07% | 3/0 | +2 | | 常山药业 300255.SZ | +20.00% | 2/2 | +1 | | 3日 | | | | | | | 跨境通 龙虎榜显示，3家机构净买入2.28亿。 据公司年报显示，公司孵化了最早一批跨境电商DTC品牌，结合自有品牌的口碑、集中度和优秀的国际品牌代运营能力，公司始终占据着国内跨境电商行业 重要的一席之地。跨境通旗下品牌ZAFUL在欧美拥有忠实消费群体，积极引进国外优质的品牌产品，获得了多家国际知名品牌商的认可与商业代理授权。 龙虎榜知名游资 一、稀土 据商务部网站6月7日披露，商务部新闻发言人表示，我国将依法依规对稀土相关物项出口许可申请进行审查，已依法批准一定数量的合规申请，并将持续加 强合规申请的审批工作。中方愿就此进一步加 ...