Loctek(SZ:300729)2025-10-24 07:24Group 1: Overseas Warehouse Operations - The gross margin of the overseas warehouse business remained stable in Q3, with an average utilization rate exceeding 70% [2] - The company has established 19 self-operated overseas warehouses covering a total area of 650,000 square meters as of September 2025, with revenue from this segment continuing to grow significantly [4] - The company served 1,932 outbound enterprises in the first three quarters, with shipment volume increasing by over 100% year-on-year [4] Group 2: Impact of Tariffs and Market Trends - The ongoing uncertainty in the China-U.S. trade environment has led to varying impacts on different consumer categories, particularly affecting optional consumer goods and offline supermarket products [3] - Despite challenges, the cross-border e-commerce sector remains robust, with core categories like smart standing desks showing steady growth [3] - The company anticipates a recovery in demand for its OEM business as the industry stabilizes post-tariff adjustments [4] Group 3: E-commerce Performance - Independent site sales accounted for over 40% of total cross-border e-commerce revenue, growing approximately 12% year-on-year [5] - The independent site channel demonstrates strong customer loyalty, with higher repurchase rates and average transaction values compared to platform-based channels [5] - The company aims to enhance brand differentiation and product innovation to maintain market share while focusing on profit quality in a competitive landscape [5]