天眼查工商信息显示，8月19日，深圳市其域创新科技有限公司发生工商变更，新增美团旗下天津三快 科技有限公司、深圳市创新资本投资有限公司为股东，注册资本由约556万人民币增至约621万人民币， 同时部分主要人员发生变更。深圳市其域创新科技有限公司成立于2020年12月，法定代表人为赵开勇， 经营范围包括软件开发、人工智能硬件销售、智能机器人的研发等。股东信息显示，该公司现由赵开 勇、深圳市其域创新管理合伙企业（有限合伙）及上述新增股东等共同持股。公开资料显示，该公司专 注于三维信息基础设施建设，是一家提供智能三维技术服务的企业。 ...

Core Viewpoint - The article discusses the comfort level and work-life balance in various internet companies in China, highlighting a ranking based on comfort, overtime situation, benefits, and work atmosphere. Group 1: Comfort Level Ranking - Tencent (Core Department) ranks as the most comfortable company with minimal overtime and comprehensive benefits, including high salaries and stock options [3]. - Baidu is noted as the second most comfortable company, emphasizing a stable work environment and good team collaboration [3]. - JD.com is ranked third, although there are concerns about increasing work intensity following salary hikes [3]. - Meituan (Non-Core Business) is also recognized for its comfort level, with a supportive work atmosphere [3]. Group 2: Second Tier Companies - NetEase is identified as the most comfortable in the second tier, with manageable overtime and a rich variety of food options in the cafeteria [3]. - Ctrip follows closely, offering a good work atmosphere and benefits like transportation subsidies [3]. - Alibaba (Non-Core Department) is noted for its decent benefits but has a more intense work environment [3]. Group 3: Third and Fourth Tier Companies - Intel and Pinduoduo (Core Department) are categorized in the third tier, with Pinduoduo noted for frequent overtime and high-pressure tasks [3]. - ByteDance is also in the extreme pressure category, indicating a highly competitive and stressful work environment [3]. - Huawei (Certain Grassroots Departments) and Xiaohongshu are highlighted in the fourth tier, with significant overtime and high work intensity [3].

Core Viewpoint - The QDII funds have strategically adjusted their holdings in response to the global market dynamics, focusing on technology and consumer sectors in the US and Hong Kong, while also capitalizing on opportunities in European high-end manufacturing and energy sectors [4][15]. Summary by Sections US Market - In Q2 2025, QDII funds increased their positions in AI-related technology stocks such as Nvidia, Microsoft, and Apple, which collectively have a market capitalization exceeding 440 billion [4]. - Significant reductions were made in holdings of Pinduoduo, with a decrease of approximately 1.34 million shares, marking it as the most significantly reduced stock among the top 20 [5]. Hong Kong Market - QDII funds reduced their stakes in Tencent, Alibaba, and Xiaomi, with Tencent seeing a decrease of about 12.73 million shares and Alibaba a reduction of approximately 5.13 million shares [6][7]. - Conversely, there was a notable increase in holdings of Meituan, NetEase, and JD.com, indicating a structural adjustment within the internet sector [7]. A-Share Market - Some QDII funds maintained positions in A-shares, with top holdings including Wuliangye, Luzhou Laojiao, and Kweichow Moutai, all held by Zhang Kun's E Fund Quality Selection Mixed Fund [9]. UK Market - QDII funds have focused on energy and financial stocks, significantly increasing their holdings in Shell and HSBC, reflecting a strategy to capture energy profits amid ongoing geopolitical tensions [12]. Other Regions - In Q2 2025, QDII funds concentrated on high-end manufacturing in Europe and semiconductor leaders in the Asia-Pacific region, with notable holdings in Airbus, SAP, and TSMC [13]. - The funds have shown a keen sensitivity to market rotations, reallocating investments towards sectors with higher visibility and reasonable valuations [13][15].

Core Insights - JD.com and Meituan are heavily investing in the hard discount supermarket sector, marking a significant shift in their retail strategies [2][3] - The hard discount model focuses on sustainable low prices through large-scale procurement and supply chain optimization, contrasting with soft discount models that rely on clearance sales [3][11] Company Developments - JD.com opened its first discount supermarket in Zhuozhou, Hebei, on August 16, attracting nearly 60,000 customers on its first day [1] - Meituan is set to launch its hard discount supermarket, "Happy Monkey," in Hangzhou and Beijing, with plans to open 1,000 stores nationwide in the coming years [1][3] - Both companies are strategically positioning their stores to compete with Alibaba's Hema NB, which has a significant presence in the hard discount market [3][5] Market Trends - The discount retail market in China is projected to reach 2.3 trillion yuan by 2025, indicating a growing acceptance of hard discount formats among consumers, especially in county-level markets [8] - The competition is intensifying, with multiple discount stores potentially opening on the same street, reflecting a crowded market landscape [9] Supply Chain Dynamics - Successful hard discount retail requires robust supply chain capabilities and effective product selection, with JD.com having a more integrated supply chain compared to Meituan [11][13] - JD.com has been leveraging its existing supply chain infrastructure, including its own brands, to support its discount supermarket operations [12][13] - Meituan's approach involves localizing its supply chain, but it faces challenges in matching the scale of JD.com's operations [11][13]

Group 1 - Meituan's international food delivery brand Keeta has officially launched in Doha, Qatar, marking another breakthrough in the Middle East market following its entry into Saudi Arabia [1] - Qatar, known for having one of the highest GDP per capita in the world, presents significant growth potential for the food delivery market [1] - Keeta has gained increasing popularity among local users in Saudi Arabia since its entry in September 2024, becoming one of the top three players in the market [6] Group 2 - Keeta has expanded its service coverage in Saudi Arabia from 9 core cities to 20 cities, achieving near-complete coverage in the region [6] - The company plans to further expand into more markets in the Middle East and aims to officially enter Brazil within a few months [6]

Group 1 - Meituan's international food delivery brand Keeta officially launched in Doha, Qatar on August 19 [1] - In late July, Keeta expanded its service coverage in Saudi Arabia from 9 core cities to an additional 11 cities, achieving service in a total of 20 cities [1] - Keeta's successful progress in Saudi Arabia influenced the decision to select Qatar as its second location in the Middle East [1]

Core Insights - Meituan's international food delivery brand Keeta officially launched in Doha, Qatar on August 19, marking a significant expansion in the Middle East market following its entry into Saudi Arabia [1] Company Expansion - In May 2023, Meituan launched Keeta in Hong Kong, contributing to the overall growth of the local food delivery market [1] - Keeta entered the Saudi Arabian market in September 2024 and has quickly become one of the top three food delivery platforms, covering 20 cities within the country [1]

当地时间8月19日上午11点，美团(03690)旗下国际外卖品牌Keeta正式在卡塔尔首都多哈上线。这是继沙特阿拉伯之后，美团国际化业务在中东市场的又一重 要突破。 Keeta表示，基于我们在沙特的良好进展，我们选择卡塔尔作为Keeta在中东的第二站。卡塔尔作为世界上人均GDP最高的经济体之一，其外卖市场具有巨大 的增长潜力。Keeta致力于为卡塔尔用户提供更好的外卖服务体验，助力当地餐饮商户、骑手等合作伙伴健康发展，并为当地的数字经济增长做出贡献。 ▲在卡塔尔首都多哈，Keeta已支持麦当劳、快乐蜂、星巴克等多家品牌外卖下单。 自2024年9月正式进入中东的沙特阿拉伯，Keeta充分展现了产品实力和技术优势，以更优质的外卖服务赢得了越来越多本土用户的青睐，并为当地餐饮商户 带来额外的线上订单增长。目前Keeta已成为沙特市占前三的玩家。 7月底，Keeta在沙特阿拉伯完成了服务范围的进一步拓展——在原本9个核心城市的基础上新增覆盖11个城市，实现在沙特20个城市提供服务，基本完成全 域覆盖。 国际化是美团的长期发展战略之一。未来，Keeta还将进一步拓展至中东更多市场，并计划在数月内正式进入巴西。 ...

8月20日，美团宣布旗下国际外卖品牌Keeta正式在卡塔尔首都多哈上线。未来，Keeta还将继续深耕中 东市场，逐步拓展至海湾阿拉伯国家合作委员会（Gulf Cooperation Council，GCC）的更多国家和地 区，并计划在数月后正式进入巴西。 ...

美团国际化再下一城！当地时间8月19日上午11点，美团旗下国际外卖品牌Keeta正式在卡塔尔首都多哈上线。这是继沙特阿拉伯之后，美团国际化业务在中 东市场的又一重要突破。 Keeta表示，基于我们在沙特的良好进展，我们选择卡塔尔作为Keeta在中东的第二站。卡塔尔作为世界上人均GDP最高的经济体之一，其外卖市场具有巨大 的增长潜力。Keeta致力于为卡塔尔用户提供更好的外卖服务体验，助力当地餐饮商户、骑手等合作伙伴健康发展，并为当地的数字经济增长做出贡献。 在卡塔尔首都多哈，Keeta已支持麦当劳、快乐蜂、星巴克等多家品牌外卖下单 自2024年9月正式进入中东的沙特阿拉伯，Keeta充分展现了产品实力和技术优势，以更优质的外卖服务赢得了越来越多本土用户的青睐，并为当地餐饮商户 带来额外的线上订单增长。目前Keeta已成为沙特市占前三的玩家。 7月底，Keeta在沙特阿拉伯完成了服务范围的进一步拓展——在原本9个核心城市的基础上新增覆盖11个城市，实现在沙特20个城市提供服务，基本完成全 域覆盖。 国际化是美团的长期发展战略之一。未来，Keeta还将进一步拓展至中东更多市场，并计划在数月内正式进入巴西。 ...