GTHT released a research report stating that the US dollar has depreciated slightly against the renminbi, while ocean freight rates on major routes continue to decline year-on-year; the US Restaurant Performance Index (RPI) fell month-on-month, and the US Housing Market Index remains under pressure. It is recommended to focus on export-oriented consumer goods companies with global manufacturing footprints, brand export capabilities, and channel integration advantages. Against the backdrop of changing external conditions and policy dynamics, companies possessing diversified production capacity, stable customer loyalty, and pricing power are well-positioned for sustained growth amid global trade realignments. The firm favors companies with high market share, resilient supply chains, and established overseas production capacity. The main points from GTHT are as follows: Cost tracking shows a slight depreciation of the US dollar against the renminbi; sea freight costs for European, US East Coast, US West Coast, and Southeast Asian routes have decreased year-on-year. 1) Exchange Rates: On January 30, 2026, the USD/CNY spot rate was 6.95, up 1.30% from January 23; the EUR/CNY rate was 8.28, up 0.97% from January 23. 2) Freight Rates: In the fourth week of January 2026, China's Export Containerized Freight Index (CCFI) composite index stood at 1175.59, down 16.92% year-on-year and 2.74% month-on-month; the European route index was 1574.69, down 25.16% year-on-year but up 0.35% month-on-month; the US East Coast route was 975.78, down 24.75% year-on-year and down 0.37% month-on-month; the US West Coast route was 867.79, down 27.60% year-on-year but up 1.64% month-on-month; the Southeast Asia route was 933.11, down 16.71% year-on-year and down 4.48% month-on-month.

High-frequency industry data tracking shows: 1) US Restaurant Industry: The US RPI declined month-on-month in November 2025. According to the National Restaurant Association, the US RPI was 99.2 in November, down 0.4% from 99.6 in October. 2) US Real Estate: The US Housing Market Index fell 21.28% year-on-year in January 2026. The index reading was 37 for January, down 5.13% month-on-month and down 21.28% year-on-year. In December, US existing home inventory was 1.18 million units, up 3.51% year-on-year, while existing home sales were 4.35 million units, up 1.40% year-on-year. In October, US new home sales were 7.37 million units, an increase of 18.68% year-on-year. 3) Golf Cart Industry: In December 2025, golf cart exports increased 1.33% month-on-month and rose 7.66% year-on-year; export value increased 11.21% month-on-month and rose 8.76% year-on-year. According to China Customs data, golf cart exports in December were valued at $43 million, with cumulative exports for January-December reaching $363 million, a decrease of 63.74% year-on-year; export volume in December was 12,100 units, with cumulative exports for January-December totaling 105,400 units, down 62.24% year-on-year. 4) Motorcycle Industry: In December 2025, China's motorcycle export value decreased 2.73% month-on-month but increased 15.83% year-on-year; export volume decreased 6.79% month-on-month but increased 16.29% year-on-year.

Risk warnings include potential fluctuations in tariff policies, macroeconomic volatility, and intensifying competition.