Core data interpretation: First, regional market distribution, Southeast Asia accounts for 38%, Middle East 15%, Russia and Central Asia 12%, Africa 10%, South America 9%, EU 8%, other regions 8%. Vietnam, Thailand, Indonesia, Saudi Arabia and Russia are the top five export countries; Second, product structure, public transport heavy-duty escalators account for 62%, commercial escalators 28%, moving walks 10%, and the proportion of export value of products with variable frequency drive, energy feedback and intelligent monitoring functions increased to 72%; Third, growth drivers, rail transit construction, airport expansion, commercial complex development in Southeast Asia and the Middle East, logistics hub and shopping mall construction in Russia and Central Asia have driven the continuous growth of escalator demand. At the same time, Chinese escalator products have significant cost-effective advantages, 30%-40% lower than European and American products, with short delivery cycles, technical indicators in line with international standards, and the global market competitiveness continues to improve; Fourth, price trend, the average export price increased by 1.3% year-on-year, mainly due to the increased proportion of high value-added heavy-duty escalators and intelligent escalators, and the continuous optimization of product structure; Fifth, trade facilitation, the utilization rate of RCEP certificates of origin reached 88%, more than 90% of China's escalator products exported to ASEAN enjoy zero tariff treatment, greatly reducing the cost of export enterprises. The tariff reduction policy of the 3.0 version of the China-ASEAN Free Trade Area further releases export dividends.