With the continuous deepening of global digital transformation, RFID, as the core perception foundation of the Internet of Things, is accelerating the digital transformation across various industries, with market demand steadily increasing. As a leading domestic RFID Internet of Things enterprise, Invengo (002161) is proactively laying out a global track and is accelerating the development of overseas markets into a new growth pole. After years of localized cultivation and industrial integration, the company's global layout has achieved a key leap from channel building to performance realization, with multi-sector collaboration and high-margin overseas business continuously expanding, laying a solid core support for the company's valuation recovery and long-term growth.

Strategic layout systematized, building a global operational foundation

Unlike the fragmented overseas expansion model common in the industry, Invengo adheres to long-termism and has established a systematic, multi-level global operational structure. The company's international layout began in 2005, and in 2014, it established the Singapore International Headquarters as the core overseas hub, linking with the Shenzhen headquarters and regional centers in the United States, Europe, the Middle East, South Korea, and Australia, forming an operational network covering mainstream markets worldwide, achieving precise reach and efficient response to core markets.

In terms of development path, the company adopts a dual-driven approach of “internal expansion + external integration”: relying on self-controllable RFID core technology and a mature product system, local teams deeply cultivate the market, expand terminal customers, and deliver projects, steadily expanding its own business territory; through precise acquisitions to fill capability gaps, it has successively acquired quality enterprises such as South Korea's ATID and Australia's FET, quickly obtaining overseas core technologies, channel resources, and customer barriers, building an irreplicable global competitive advantage.

Multi-business collaboration landing, overseas profitability quality continuously optimized

After long-term layout, the company's overseas business has formed a diversified growth pattern of B-end hardcore empowerment and C-end incremental breakthroughs, with profitability structure continuously optimized. The B-end deeply cultivates the fields of digital culture and retail, providing RFID Internet of Things solutions for international clients. In the digital culture business, the company has achieved a comprehensive breakthrough in million-level integration business in segmented fields, with international business covering over 2,000 libraries; in the digital retail business, the company provides RFID full-link solutions for leading domestic apparel brands such as BOSIDENG, FILA, and Camel, with 5 new cooperative clients added in 2025, currently serving over 20 leading domestic and foreign apparel brands; the digital cultural tourism business has covered more than 800 core scenic spots nationwide, reaching over 1 billion tourists annually, rapidly going overseas relying on a mature domestic “technology + creativity + operation” service closed loop, and successfully achieving international landing, with strong replicability and broad commercialization space.

The C-end focuses on the consumer Internet of Things, laying out the pet smart hardware track. The company forms a closed loop through “hardware + services + data,” transforming one-time sales of smart hardware products into continuous user relationship management, ultimately achieving triple growth in hardware premium, service stickiness, and ecological expansion. Relying on RFID's differentiated technological advantages, the company has launched multiple mid-to-high-end smart products, successfully entering mainstream e-commerce platforms in Europe and America, becoming a new growth pole for the company's overseas business From an industry perspective, the global RFID and Internet of Things (IoT) industry maintains a high level of prosperity, with a clear growth trend in the ultra-high frequency RFID tag market. It is expected that from 2025 to 2029, the global shipment volume of ultra-high frequency RFID tags will have a compound annual growth rate of 14.1%. Under the high growth dividend of the industry, Invengo, with its global mature layout, RFID full-chain technology accumulation, and multi-business synergy implementation capabilities, has strong growth momentum in its overseas segment. Looking ahead, overseas business is expected to continue delivering performance increments, becoming the core driving force for the company's medium to long-term value enhancement