I-E{0}}i-Craze kagwayi elahlwayo: Ukukhuphuka Kompetha Abafihlekile ku-Industrial Chain Ngaphansi Kokuphumula Kwenqubomgomo

1. Ingemuva letimu
Imicimbi eshisayo: I-State Tobacco Monopoly Administration isanda kukhipha izinqubomgomo ezimbili ezibalulekile. Ngo-September 2024, "Isaziso Sokubuyekezwa Nokukhishwa Kwemithetho Enemininingwane Yokuphathwa Kwe-E{2}}yemisebenzi kagwayi" sagcizelela ngokusobala emakethe{3}}izintengo ezinqunyiwe futhi savumela amabhizinisi ukuthi abeke izintengo ngokuzimela; ngo-June 2025, "Imithetho Eningiliziwe Yokuphathwa Kwamalayisense Okugunyazwa Ugwayi Entsha-kagwayi{6}}ahlobene ne-Production Enterprises and Wholesale Enterprises" yayidinga ukumakwa kwamandla okukhiqiza agunyaziwe, ukuqedwa kwamandla okukhiqiza angafaneleki, kanye nokwakhiwa{7}kohlelo olugcwele lokugada iketango. Lezi zinqubomgomo ziphawula ukuguquka komkhakha we-e{9}}kagwayi kusukela ekwandeni okungahlelekile ukuya ekuthuthukisweni okujwayelekile kanye{10}}okugxile emakethe.

Umthelela ezimakethe: Iqhutshwa izinqubomgomo, iyonke itimu kagwayi olahlwayo we-e{0}inyuke ngo-3.60%, futhi izitoko ezihlobene zenze kahle. Isibonelo, amasheya e-Jinjia akhuphuke ngo-9.92% ngosuku olulodwa, futhi amasheya e-Huabao enyuke ngo-20.02%, okubonisa ukuphishekela imali yochungechunge lwezimboni. Imakethe ilindele ukuthi imithethonqubo emisha izosheshisa ukuhlelwa kabusha kwemboni futhi kuhlomule izinkampani ezithobela imithetho.

Amathrendi embonini: Imakethe ye-e{0}}kagwayi yomhlaba wonke iyaqhubeka nokukhula, ikakhulukazi imikhiqizo elahlwayo ithandwa kakhulu ukuze ibe lula. Inqubomgomo yaseShayina ishintshela kokuthi "ukulawulwa kwemakethe + ukugada okuqinile" ukuze kuthuthukiswe ukuthuthukiswa kochungechunge lwezimboni lube yikhwalithi ephezulu kanye nokusungula izinto ezintsha. Imikhiqizo ehlakaniphile efana nogwayi we-elekthronikhi onezikrini iyakhula, izithiyo zobuchwepheshe zezixhumanisi ezikhuphuka nomfula njengezinambitheka ne-nicotine ziyakhula, futhi isidingo semikhiqizo evamile esekelayo njengamalebula kagwayi sizinzile. Lokhu kukhombisa ukuthambekela kokuhlanganiswa phakathi kwama-elekthronikhi wabathengi nokugadwa kwezempilo, futhi izinkampani zidinga ukufuna ubuhlakani obusha obuhambisana nokuthobela.

2. Ukuhlaziywa kwezinkampani eziwumgogodla
Isixhumanisi somkhiqizo womkhiqizo
I-Yinghe Technology: Ingxenye-engaphansi: Ukukhiqizwa komkhiqizo kagwayi we-elekthronikhi olahlwayo. Inhlangano yetimu: Uhlobo lwayo i-SKE Crystal inesabelo semakethe sesine ngobukhulu e-UK, ebonisa amandla ayo esakhiwo samazwe ngamazwe. Okugqamile okubalulekile: Intengo yesitoko ikhuphuke ngo-4.47% ngosuku olulodwa, okubonisa ukuqashelwa kwemakethe kwe-premium yomkhiqizo wayo. Amathuba angenzeka: Ngaphansi kokuxegiswa kwenqubomgomo, amandla azimele entengo ayathuthukiswa, futhi anganweba izimakethe ezisafufusa ngokusebenzisa i-"Belt and Road".

I-Jinjia Shares: Ingxenye-engaphansi: Ukusebenza nokuthunyelwa kwebhrendi kagwayi we-elekthronikhi. Inhlangano yetimu: I-Brand FOOGO ithekelisa e-Germany nase-UK, futhi imali engenayo yamalebula kagwayi isendaweni yesibili ku-A{2}}amasheya ngo-1.949 bhiliyoni, okubonisa ukusebenzisana kwalo lonke uchungechunge lwezimboni. Okugqamile okubalulekile: Intengo yesitoko inyuke ngo-9.92% ngosuku olulodwa, futhi ukuthunyelwa kwempahla kwamanye amazwe nokuthengiswa kwasekhaya kwakuqhutshwa izinqubomgomo ezivumayo. Amathuba angaba khona: Imithetho emisha iqeda{7}}umthamo wokukhiqiza ophansi, futhi izinzuzo zayo zokuthobela zingase zibambe isabelo esikhulu.

I-Shunhao Shares: Ingxenye-engaphansi: E-ucwaningo nokuthuthukiswa komkhiqizo kagwayi. Okuhlobene netimu: -umkhiqizo wakho oyi-Yilong, isakhiwo sobuchwepheshe bokushisisa{4}}okungashisi{5}}kagesi obungashi. Amaphuzu avelele: Intengo yesitoko ikhuphuke ngo-6.75%, futhi ukuhlukaniswa kwezobuchwepheshe kudonse ukunaka kwezimali. Amathuba angenzeka: Ngaphansi kokuqiniswa kokuqondisa, imikhiqizo emisha efana nezifudumezi ingase ibe indawo yokukhula.

Ukwabelana kwe-Xiaosong: Ingxenye{0}}engaphansi: Ukutshalwa kwezimali komkhiqizo kanye ne-ejensi. Itimu ehlobene: Tshala imali kumkhiqizo we-Bode, futhi usebenze njenge-ejenti ye-Bode ukuze iphromothwe eduze kwe-"Belt and Road"; ukubamba iqhaza kokulingana e-Hong Kong nase-China Bio kuyiqoqo lokuqala lamabhizinisi okukhiqiza i-nicotine e-Gaochun. Okugqamile okubalulekile: Intengo yesitoko ikhuphuke ngo-4.48%, okubonisa ukuthi imali eyinhloko inethemba ngokwakheka kwayo okuhlukahlukene. Amathuba angaba khona: Inqubomgomo ivumela amanani azimele, futhi ibhizinisi le-ejensi lingakhuphula ivolumu ngokushesha ngokusebenzisa inzuzo yesiteshi.

I-Tianyin Holdings: Ingxenye{0}}engaphansi: Ukutshalwa kwezimali komkhiqizo kanye ne-ejensi yokudayisa. Itimu ehlobene: Faka imali kumkhiqizo we-Xiaoye, futhi usebenze njenge-ejenti ye-Xiaoye, i-Bode, i-Jier, i-Vita, njll. Amaphuzu avelele ayinhloko: Intengo yesitoko ikhuphuke kancane ngo-1.33%, futhi inethiwekhi yokudayisa isekela i-matrix yomkhiqizo. Amathuba angenzeka: Ngaphansi kwemakethe-yendlela yenani elinqunyiwe, umkhawulo wenzuzo wesixhumanisi se-wholesale ungase ukhuphuke.

Isixhumanisi sokudayisa
I-Tianyin Holdings: Isegimenti: E-ukusabalalisa kukagwayi nokudayiswa. Ukuhlotshaniswa kwesihloko: I-ejenti yemikhiqizo eminingi efana ne-Xiaoye ne-Bode, ehlanganisa i-wholesale netheminali. Okugqamile okubalulekile: Ngokufanayo nangenhla, ibhizinisi lokudayisa lihlanganisa izinsiza zomkhiqizo. Amathuba angenzeka: Ngaphansi kwemithetho emisha, izinkampani zezitolo ezinkulu zingasetha izintengo zazo futhi zandise ukwakheka kwezindleko.

I-Aishide: Ingxenye: E-ukusebenza kwesitolo sikagwayi. Ukuhlotshaniswa kwesihloko: Ukufinyelela{2}}emibukiso yemikhiqizo eminingi futhi kwakha ubudlelwano obuseduze bokusebenzisana nemikhiqizo emikhulu