净卖出腾讯控股7.74亿、华虹半导体5.55亿、中国移动5.5亿、中芯国际4.34亿、中国海洋石油4.16亿。 据统计，南下资金已连续12日净买入小米，共计121.5043亿港元；连续4日净买入美团，共计46.2952亿港元；连续5日净卖出中芯国际，共计19.8564亿港 元；连续4日净卖出腾讯，共计24.9089亿港元；连续3日净卖出华虹半导体，共计15.4751亿港元；连续3日净卖出中海油，共计14.0144亿港元。(格隆汇) 格隆汇12月15日｜南下资金今日净买入港股36.54亿港元。其中： 净买入小米集团-W 13.82亿、中国平安11.9亿、美团-W 5.47亿、中国人寿3.5亿、阿里巴巴-W 3.04亿、长飞光纤光缆1.77亿、建设银行1.04亿； | | 升段面 | | | | | --- | --- | --- | --- | --- | | 名称 | 涨跌幅 | 净买入额(亿) | 成交额 | 名称 | | 阿里巴巴-W | -3.6% | 9.35 | 52.82 Z | 阿里巴巴-W | | 中芯国际 | -4.4% | -0.19 | 23.80 Z | 腾讯控股 | | 小米集团-W ...

Core Viewpoint - Meituan has decided to suspend its "Tuan Hao Huo" business to focus on exploring new retail formats, reflecting a strategic shift in its e-commerce approach towards instant retail and away from traditional delivery e-commerce [3][7]. Group 1: Business Strategy - Tuan Hao Huo, a B2C e-commerce initiative launched by Meituan in August 2020, has been rebranded as Meituan E-commerce and is being phased out as the company pivots towards instant retail [7]. - The decision to suspend Tuan Hao Huo is part of Meituan's broader strategy to adapt to the evolving grocery retail landscape, which has seen significant innovation and growth [7]. - Meituan's third-quarter financial report indicates strong growth in new business segments, with revenue reaching 28 billion yuan, a year-on-year increase of 15.9% [7]. Group 2: Market Trends - The instant retail sector is gaining traction, with data showing that sales during this year's Double 11 shopping festival reached 67 billion yuan, marking a 138.4% increase year-on-year [8]. - Meituan's flash purchase platform has seen record highs in transaction volume and user engagement during the Double 11 period, with average consumer spending increasing by nearly 30% [8]. - The entry of numerous brands into instant retail platforms signifies a shift in the e-commerce landscape, where traditional e-commerce must enhance last-mile delivery capabilities to remain competitive [9].

美团在即时零售领域的探索以美团闪购、小象超市和美团买药等业务为主。今年6月，美团宣布将全面 拓展即时零售，包括闪购业务将继续拓展品类，小象超市逐步拓展到所有一二线城市等。截至目前，小 象超市的服务网络已覆盖北京、上海、广州、深圳、武汉、南京、西安等全国30余地。 从电商行业趋势看，即时零售的存在感在加强。星图数据显示，今年双11期间即时零售销售额为670亿 元，同比增长138.4%。星图认为，即时零售业通过以高频带动低频的方式，突破增长瓶颈。美团闪购 数据显示，10月31日至11月11日，美团闪购平台成交额、下单用户数和人均消费金额创下新高，高单价 商品更快增长，带动用户人均消费金额增长近30%。同时，越来越多品牌入驻即时零售平台。例如，今 年双11是安踏、李宁、罗莱家纺等品牌上万家门店集体入驻美团闪购后的首次大促。 网经社电子商务研究中心特约研究员郭涛对此表示，即时零售的爆发标志着电商竞争进入"远场+近 场"混合新阶段。传统电商需强化"最后一公里"配送能力，本地商家通过即时零售打破地域限制，倒逼 传统电商升级供应链韧性。 美团的电商策略正随着市场发生改变：关注即时零售，淡化快递电商。团好货内部邮件显示，该业 ...

Investment Rating - The report maintains a "Recommendation" rating for the media industry, expecting the industry index to outperform the benchmark index by more than 5% in the next 3-6 months [44]. Core Insights - The media sector has shown resilience, with a 0.26% increase in the media index, outperforming the Shanghai and Shenzhen 300 index by 0.33% [8][6]. - Disney's partnership with OpenAI marks a significant shift towards AI-driven content creation, with a $1 billion investment aimed at integrating AI into its media operations [29][30]. - The gaming market remains strong, with Tencent's products dominating the iOS game sales charts, indicating robust consumer engagement [16][18]. - The film market is recovering, with total box office revenue reaching 448.68 billion yuan, approximately 79% of the 2019 levels, showcasing a steady recovery in audience attendance [21][24]. Market Performance Review - The media index increased by 0.26% last week, while the Shanghai and Shenzhen 300 index decreased by 0.08%, placing the media sector 8th among all sectors [8][6]. - The gaming market continues to thrive, with top titles like "Honor of Kings" and "Delta Force" maintaining strong sales positions [16][17]. - The film market's total box office for 2025 has reached 448.68 billion yuan, with a recovery rate of approximately 79% compared to 2019 [21][24]. Industry News and Company Announcements - Disney's strategic partnership with OpenAI is expected to reshape content creation in the media industry, leveraging AI for enhanced storytelling [29][30]. - The upcoming release of "Avatar 3" has generated significant pre-sale interest, with ticket sales exceeding 11 million yuan, positively impacting related stock prices [29]. - The gaming title "Ningchao" won the "Player's Voice" award at TGA, highlighting the growing recognition of Chinese games in the global market [30].

Core Insights - Meituan has officially extended social security coverage to all delivery riders across the country as of December 2023, providing cash subsidies to those participating in social security payments [1] - The company launched a pension insurance subsidy scheme in April 2023, allowing riders to choose their insurance location and offering a 50% subsidy on pension insurance fees for eligible riders [1][2] - Meituan has invested 2.3 billion yuan in full payment for rider occupational injury insurance, covering approximately 16 million riders as of October 2023 [2] Group 1 - The pension insurance subsidy scheme allows riders to apply based on their monthly income and requires them to meet specific criteria over a six-month period [1] - Riders can receive subsidies regardless of whether they pay social security in their hometown or work location, making the process more convenient [1] - The company is expanding its insurance offerings to include various types of coverage, such as occupational injury insurance, accident insurance, and special weather subsidies [1] Group 2 - Since 2022, Meituan has expanded its new occupational injury insurance pilot program to 17 provinces and cities, with a total investment of 2.3 billion yuan by October 2023 [2] - The company has established over 200 "Rider Homes" nationwide to provide support services, including delivery assistance and welfare consultations [2] - Meituan plans to invest a total of 10 billion yuan over the next five years to enhance rider welfare programs, including initiatives like "parent-child leave" and "autumn harvest leave" [2]

Core Insights - Meituan has decided to suspend its "Tuan Hao Huo" business to focus on exploring new retail formats, indicating a strategic shift in its operations [2] Group 1: Business Overview - "Tuan Hao Huo" was launched in August 2020 as a B2C e-commerce initiative and was later integrated into the Meituan app as a primary entry point [2] - The business aimed to accumulate experience in product retail but faced challenges in meeting the demands of instant retail users in the evolving grocery retail sector [2] Group 2: Strategic Shift - Since 2025, Meituan has been intensifying its exploration of new retail formats, aiming for a strategic transformation in retail [2] - In June, Meituan announced plans to expand its instant retail offerings, including the continued diversification of its flash purchase business and the gradual expansion of "Xiang Supermarket" to all first- and second-tier cities [2] - Currently, "Xiang Supermarket" has established a service network covering over 30 cities, including major urban centers like Beijing, Shanghai, Guangzhou, and Shenzhen [2]

Core Viewpoint - Meituan has decided to suspend its "Tuan Hao Huo" business to focus on exploring new retail formats, responding to the evolving demands of the grocery retail industry [1] Group 1: Business Decision - The internal email from Meituan's grocery retail management team indicates that the decision to pause the Tuan Hao Huo business was made after thorough research and discussion [1] - Tuan Hao Huo, initially launched in August 2020 as a B2C e-commerce initiative, was integrated into the Meituan app in December 2020 and later rebranded as Meituan E-commerce [1] - The email states that while Tuan Hao Huo has accumulated experience in product retail, the rapid innovation in the grocery retail sector has made it challenging for express e-commerce to meet the immediate retail needs of users [1] Group 2: Strategic Shift - Since 2025, Meituan has been intensifying its exploration of new retail formats, aiming for a strategic transformation and upgrade in retail [1] - In June, Meituan announced plans to fully expand into instant retail, including the continued diversification of its flash purchase business and the gradual expansion of its "Xiaoxiang Supermarket" to all first- and second-tier cities [1] - Currently, Xiaoxiang Supermarket's service network covers over 30 cities nationwide, including major cities like Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Nanjing, and Xi'an [1]

今年6月，美团宣布将全面拓展即时零售，包括闪购业务将继续拓展品类，小象超市逐步拓展到所有一 二线城市等。截至目前，小象超市的服务网络已覆盖北京、上海、广州、深圳、武汉、南京、西安等全 国30余地。（界面） 团好货内部邮件显示，该业务作为美团快递电商业务探索者，积累了商品零售相关经验，但近年来随着 食杂零售行业创新发展，快递电商难以承接即时零售用户的需求，"我们将顺应趋势，主动求变。"此 外，对此次调整涉及到人员，内部将进行沟通，详细说明后续的方案。 今年以来，美团加大探索零售新业态， 推动零售战略转型升级。其Q3财报显示，今年新业务板块，食 杂零售业务强劲增长。 【#美团宣布暂停团好货#，此前曾多年尝试用外卖导流电商】12月15日，美团团好货业务发布内部邮 件，称食杂零售管理团队经研究讨论，决定暂停团好货业务，聚焦探索零售新业态。公开资料显示，团 好货是美团自主孵化的 B2C 电商业务，2020 年 8 月以小程序的形式推出，2020 年12月提升至"美团 APP"一级入口，后更名为美团电商。 ...

Core Viewpoint - Meituan has decided to suspend its "Tuan Hao Huo" business to focus on exploring new retail formats, responding to the evolving demands of the grocery retail industry [1] Group 1: Business Overview - Tuan Hao Huo is a B2C e-commerce business launched by Meituan in August 2020, initially as a mini-program and later upgraded to a primary entry point in the Meituan app [1] - The business has accumulated experience in product retail but has struggled to meet the demands of instant retail users in recent years [1] Group 2: Strategic Shift - Meituan is actively exploring new retail formats and has been pushing for a strategic transformation in retail, as indicated by strong growth in its grocery retail business in Q3 [1] - In June of this year, Meituan announced plans to fully expand into instant retail, including the continued expansion of its flash purchase business and the gradual rollout of "Xiaoxiang Supermarket" to all first- and second-tier cities [1] - Currently, Xiaoxiang Supermarket's service network covers over 30 cities nationwide, including major cities like Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Nanjing, and Xi'an [1]

13日，省委副书记、省长梁惠玲在哈尔滨会见北京三快在线科技有限公司（美团）联合创始人穆荣均一行。 审核：杨晔 梁惠玲对穆荣均一行表示欢迎。她说，美团是国内领先的生活服务电子商务平台，也是我国科技零售行业的领军企业，与黑龙江省建立了良好的合作关 系。我省深入贯彻习近平总书记重要讲话重要指示精神，认真落实党的二十届四中全会和中央经济工作会议部署，把数字经济作为经济发展的四大引擎之 一，出台一系列政策措施，促进数字经济与实体经济深度融合。把发展服务业摆在重要战略位置，大力发展特色文化旅游，推进消费扩容升级，促进服务 业优质高效发展。着力打造市场化、法治化、国际化一流营商环境，发展环境不断改善。这些为企业在黑龙江发展提供了广阔空间。希望美团充分发挥平 台流量、数据与技术优势，持续扩大在黑龙江的投资与业务布局，打造消费新场景、培育消费新业态，开展线上促消费活动，扩大"黑土优品""九珍十八 品"等龙江好物销售规模，助力龙江文旅品牌推广和全域旅游发展，推动双方合作迈向更高水平。 穆荣均感谢黑龙江省给予美团的支持和帮助，并介绍了美团发展情况。他表示，美团将进一步深化与黑龙江合作，不断提升线上促消费、旅游服务等方面 合作层级， ...