Li Ronghao, Xu Wei, Da Zhang Wei, Chen Chusheng, Guo Ding, Zhou Zhennan... Recently, the Wuxi Dang YOUNG Music Festival, which is specially sponsored by Hongdou Comfortable Menswear and Hongdou Home, a subsidiary of the Hongdou Group, began singing in earnest. The special Red Bean brand exhibition area attracted a large number of fans to stop by. Comfort star products such as Red Bean 0 feel comfortable shirts, comfortable goose down jackets, and red bean velvet marshmallow 3.0 were favored by many Gen Z users, setting off a wave of “trend” and “comfort” cross-border linkages, setting off a wave of “trend” and “comfort” and setting off a wave of brand noise. At the same time, Hongdou International brought high-quality new products to the 136th China Import and Export Fair, Hongdou Home and badminton world champion Sun Yu kicked off the “Red Bean Fleece Underwear Festival”, and Hongdou Menswear's “Double 11" Comfort Carnival Season are also being carried out intensively, continuing to open up the “online+offline” and “domestic+overseas” omni-channel growth paths, continuously boosting the new trend of clothing sales in the fourth quarter!

Anchored goal: “online+offline” same frequency resonance

At 8 p.m. on October 21, Hongdou Co., Ltd. (600400.SH) Comfort Menswear officially kicked off this year's “Double 11" promotion. As the first wave of activities progressed, Hongdou Comfort Menswear performed very well on the two major e-commerce platforms, Tmall and JD. Good news spread frequently. Among them, sales on the JD platform increased 280% year-on-year from October 21 to October 22, breaking a new high in single-day sales. We welcome the “Double 11" launch! The Hongdou Comfort Menswear Mini Program has thoughtfully launched matching sections such as “Same Star Style” and “Comfort Package” to provide users with a one-stop practical OOTD for fall and winter. Since the launch of the same “Red Bean Comfort Goose Down Jacket”, the brand ambassador Lin Gengxin has quickly won the consumer market with its luxurious, comfortable, contrasting and versatile colors, etc., and has become the No. 1 best-selling Hongdou down jacket.

As the autumn and winter seasons cool down, the underwear market also ushered in a peak sales season. As the number one brand for soft and comfortable underwear, Hongdou Home achieved an excellent record of omnichannel sales exceeding 10 million in a single day on October 20 with its high-quality comfortable products and precise marketing strategies. Home companies have also made concerted efforts through “online+offline” to launch events such as the “Red Bean Underwear Festival” and “Double 11 Advance Purchase” to launch the top five new red bean velvet products — classic cotton, air cotton, marshmallow 3.0, heated underwear, and fleece heated underwear to meet the warm needs of different consumers, and have become the comfort first choice for a wide range of users, and have achieved remarkable results in channel sales. As of November 4, the “Red Bean Cashmere Underwear Festival” had an omni-channel growth of over 23.5 million yuan, an increase of 27.9% over the same period last year.

Furthermore, the official flagship store of Tmall's “Double 11”, the second e-commerce company of Hongdou children's clothing, achieved encouraging results when it launched in the first round. GMV increased 16% year over year in the first 4 hours.

Those who have a strong foundation must be prosperous. The peak season is just around the corner, and all Hongdou sub-brands are planning ahead of schedule in terms of demand forecasting, supply chain management, inventory inventory, logistics delivery, etc., making good strategic combinations, continuously optimizing the comfortable shopping experience, and improving user satisfaction.

All employees fight: “domestic+foreign” join forces to shoot

In October, GM Co., Ltd. (601500.SH) had strong production and sales momentum. Its “black technology” products such as Du Zhong Tire series, Longma series ET new energy truck and bus tires, Qianlima GA8 and CAT8+ passenger car tires, and XR970 engineering tires were favored by customers, and order sales continued to be booming.

Facing growing domestic and overseas market demand, GM Tire's three major production bases are operating at full horsepower and at full capacity, and production capacity has been released at an accelerated pace. Since the second phase of the domestic production base project was put into operation on June 28, production capacity has been rising steadily. Currently, the domestic semi-steel plant has an inbound and outbound volume of nearly 0.4 million bars, and both production and sales have reached record highs. Overseas markets are also showing strong performance. The production capacity of the first and second phase of the semi-steel plant at the base in Thailand has exceeded 0.027 million bars per day. The production of steel tires at the Cambodian base reached 0.556 million bars in September, and the production of all steel tires exceeded 0.09 million bars, both of which reached a record high; the monthly shipment volume exceeded 0.7 million bars, once again setting a new historical record. Recently, the report for the third quarter of 2024 released by GM shares shows that in the first three quarters, the company achieved operating income of 4.988 billion yuan, an increase of 35.56% over the previous year; achieved net profit attributable to shareholders of listed companies of 0.38 billion yuan, an increase of 139.49% year on year; and realized deducted non-net profit of 0.364 billion yuan, an increase of 162.53% year on year.

Similarly, those that have set up overseas factories and continue to rise in foreign trade sales are Hongdou International's two garment factories in Cambodia — Xingli Factory and Hengyang Factory. In the production workshop, nearly 1,200 workers and all production lines are working overtime to catch up with orders and guarantee delivery. The production scene in the factory is in full swing, busy and orderly. At present, the order schedule for the Xingli factory has reached June 2025; since the Hengyang factory was opened and put into operation in August this year, 3 new fixed production lines and 2 auxiliary lines have been added. The number of personnel has continued to increase by nearly 200 people, and orders are trending. In addition, Hongdou is also actively expanding its cross-border e-commerce business, promoting its own brands HODO SPORTS and HODO HOME overseas through the layout of platforms such as Amazon and independent websites. From January to May of this year, Hongdou's cross-border e-commerce GMV doubled year-on-year.

As a China-Cambodia national economic and trade cooperation zone, Cambodia's Sihanoukville Special Economic Zone (hereinafter referred to as the “West Port Special Economic Zone”), developed and built under the leadership of Hongdou Group, has become an investment hotspot for enterprises in China, Europe, America, Southeast Asia, etc. Currently, 190 enterprises or institutions have entered the Special Economic Zone, creating about 0.03 million jobs, making it the fastest growing and most influential special economic zone in Cambodia. According to Cambodian customs data, in October of this year, enterprises in the Westport Special Administrative Region achieved a total import and export volume of 0.316 billion US dollars. From January to October, they achieved a total import and export volume of 3.376 billion US dollars, an increase of 22.36% over the previous year, catching up with the total import and export volume for the whole year. It contributed the strength of Hongdou to promoting local economic development, boosting people's employment, creating “small but beautiful” samples, and building a bridge of friendship.

Work hard and start a business. Currently at a critical juncture in the golden period of consumption in the fourth quarter, the Hongdou Group made concerted efforts and collaborated back and forth to fully launch the charge “Dagan and pledge to win the whole year in the fourth quarter”. In the 2024 “Year of Increased Return on Assets”, Hongdou people will continue to cultivate their main business, anchor first-class, “compete” for new achievements in attacking the market, “create” the acceleration of enterprise development, “work” with the energy of everyone to forge ahead, and write a new chapter in high-quality enterprise development!