Market Overview - On August 5, the Hang Seng Index rose by 0.68%, with total southbound trading amounting to HKD 129.701 billion, including buy transactions of HKD 76.563 billion and sell transactions of HKD 53.138 billion, resulting in a net buy of HKD 23.426 billion [1] Southbound Trading Details - The southbound trading through Stock Connect (Shenzhen) had a total trading amount of HKD 47.198 billion, with buy transactions of HKD 28.343 billion and sell transactions of HKD 18.854 billion, leading to a net buy of HKD 9.489 billion [1] - The southbound trading through Stock Connect (Shanghai) had a total trading amount of HKD 82.504 billion, with buy transactions of HKD 48.220 billion and sell transactions of HKD 34.284 billion, resulting in a net buy of HKD 13.936 billion [1] Active Stocks - The most actively traded stock by southbound funds was the Tracker Fund of Hong Kong, with a total trading amount of HKD 6.3006 billion and a net buy of HKD 6.2929 billion, closing with a price increase of 0.63% [1] - Tencent Holdings and SMIC followed, with trading amounts of HKD 4.898 billion and HKD 3.569 billion, respectively [1] - A total of 12 stocks experienced net buying, with Tencent Holdings seeing a net buy of HKD 0.832 billion and Southern Hang Seng Technology a net buy of HKD 0.798 billion [1] Continuous Net Buying - Among the stocks, Tencent Holdings, Xiaomi Group-W, and Kuaishou-W were continuously net bought for more than three days, with Tencent Holdings leading with a total net buy of HKD 4.426 billion over nine days [2] - Xiaomi Group-W followed closely with a net buy of HKD 4.411 billion over eight days, and Kuaishou-W with HKD 2.452 billion over four days [2] Summary of Active Stocks on August 5 - The following table summarizes the active stocks and their respective trading amounts, net buying, and daily price changes: | Code | Name | Trading Amount (HKD million) | Net Buy (HKD million) | Daily Change (%) | |--------|--------------------|------------------------------|-----------------------|-------------------| | 02800 | Tracker Fund | 6300.64 | 6292.99 | 0.63 | | 00700 | Tencent Holdings | 4897.79 | 831.72 | 1.64 | | 03033 | Southern Hang Seng Tech | 868.05 | 798.36 | 0.93 | | 01024 | Kuaishou-W | 2408.49 | 646.71 | 2.79 | | 02015 | Li Auto-W | 2927.53 | 586.03 | 1.58 | | 09988 | Alibaba-W | 3391.32 | 511.50 | -0.17 | | 01357 | Meituan | 2976.58 | 386.43 | -6.92 | | 09926 | CanSino Biologics | 877.47 | 290.20 | 7.17 | | 03690 | Meituan-W | 901.74 | 270.26 | -0.08 | | 01810 | Xiaomi Group-W | 2887.14 | 248.22 | -0.46 | | 02577 | InnoCare Pharma | 2303.82 | 232.89 | -6.65 | | 00981 | SMIC | 3568.78 | 121.27 | -0.97 | | 01788 | Guotai Junan International | 2225.67 | -5.07 | -0.94 | [2]

Group 1 - The Guizhou Provincial Market Supervision Administration held a meeting with five travel platform companies, including Ctrip, Tongcheng, Douyin, Meituan, and Fliggy, to enforce compliance with laws such as the Price Law and Anti-Monopoly Law, aiming to eliminate price irregularities and maintain a fair market environment [1] - The meeting highlighted issues such as "choose one of two" practices, price manipulation through technology, contract breaches, price fraud, and price gouging, urging companies to strengthen self-regulation and compliance [1] - The administration will closely monitor the competitive landscape and take strict actions against companies that violate regulations, including public exposure of typical cases to deter misconduct [1] Group 2 - The Guizhou Provincial Market Supervision Administration convened a meeting to standardize price order in the tourism industry, where various industry associations advocated for self-regulation and fair pricing practices during the summer tourism season [2] - The Guizhou Provincial Tourism Association and Guiyang Tourism Association emphasized the need for operators to adhere to principles of fairness, legality, and honesty in pricing, particularly addressing issues like temporary price hikes and misleading pricing practices [2] - The Guizhou Consumer Association urged consumers to pay attention to price information when selecting accommodations and dining, while operators must implement clear pricing practices to foster a trustworthy tourism environment [2] Group 3 - On July 31, the Guizhou Provincial Market Supervision Administration issued a warning letter to the accommodation industry, mandating strict adherence to pricing laws and regulations, and prohibiting practices that disrupt normal pricing order [3] - The warning letter specified that operators must clearly display prices and cannot unilaterally breach contracts or raise prices after a booking is confirmed, nor can third-party platforms manipulate published prices [3] - Penalties for non-compliance include fines up to 5,000 yuan for minor violations, with more severe penalties for price fraud (up to 500,000 yuan), price gouging (up to 3 million yuan), and collusion in price manipulation (up to 5 million yuan) [3]

Group 1 - The core viewpoint of the article is that Meituan has launched a support plan for small and medium-sized merchants to help them achieve stable growth amid increasing competition in the restaurant industry [1] - Meituan plans to provide additional cash and subsidies to support long-term operating, high-repurchase, and well-reviewed small restaurant merchants, with an expectation to cover over 100,000 small restaurants by the end of the year [1] - Each restaurant can receive a maximum support fund of 50,000 yuan [1] Group 2 - The company will continue to expand the coverage and number of stores for the "in-store self-pickup exclusive discount" series to guide users to consume in-store, thereby driving traffic to offline dining [1] - Meituan is also optimizing marketing tools by reducing the display of "low price/discount price" and "promotion/discount" labels, encouraging restaurants to rely on quality for healthy competition [1] - Additionally, Meituan has launched AI management tools that offer functions such as store location selection, dish development, smart decoration, intelligent customer service, store operation analysis, and operational optimization, which will be made available for free to all merchants in the industry [1]

Group 1 - The core strategy for the upcoming promotional season "The First Cup of Milk Tea in Autumn" involves collaboration between Ele.me and Meituan, with Taobao aiming for a significant order surge during the period from August 7 to 9 [1] - Taobao has set a target to achieve 100 million orders during the promotional period, although this has been denied by Taobao officials [1][2] - Meituan is focusing on strengthening relationships with regional tea brands through "new product launches" during the promotional season, without setting specific order targets [1][3] Group 2 - Taobao has reported stable order volumes exceeding 90 million on multiple Saturdays, indicating a strong performance leading into the promotional period [2] - Meituan's strategy appears to be more about leveraging marketing opportunities to deepen brand relationships rather than aggressively competing for order volume [3] - Meituan is actively engaging with leading tea brands to secure inventory and promote new product launches during the autumn promotional season [3]

在8月的第一天，这一轮"外卖大战"似乎有了偃旗息鼓的征兆，美团、饿了么、淘宝闪购三家陆续发文 呼吁抵制"恶性竞争"。当各家都不能肆无忌惮地"撒币"后，真金白银之外的"软实力"无疑就成为了新的 突破口。在美团、京东、阿里纷纷聚焦品质外卖的时候，作为领头羊的美团又开辟了新战场——美食社 区。 美食探店、美食分享其实一向都是互联网内容平台的热门话题，抖音当初切入本地生活赛道也是以达人 探店为起点。毕竟物以类聚、人以群分，共同的兴趣也就意味着共同的语言，所以很容易就能形成基于 相同兴趣爱好的圈层化社交体系，即便是两个之前在网络上完全不相识的陌生人，相同的兴趣也很容易 就会成为双方社交的起点。 此前二次元哺育了B站、篮球让虎扑起家，所以美团想要以美食为锚点固定一批受众也在情理之中。更 何况，"今天吃什么"对于许多人来说，都是一个需要思考的问题。由于美团外卖的主要用户基本是城市 白领或在校学生，这类人群的生活轨迹相对固定，通常是围绕学校、办公室、家来展开，但长期使用外 卖的用户必然会面对同一个问题，那就是周边的外卖基本都吃过，所以失去了新鲜感。 这时候饭小圈、本地在吃，以及鸭觅就提供了一个分享美食的平台，让美团的用户之间 ...

Group 1 - Meituan officially launched a support plan for small and medium-sized merchants, providing financial assistance to help more small restaurants achieve stable growth [1][3] - The new initiative will add cash and subsidies, with a focus on long-term operating, high-repurchase, and well-reviewed small dining merchants, aiming to cover over 100,000 additional restaurants by the end of the year, with a maximum of 50,000 yuan per store [3][4] - The previous "1 billion yuan support plan" launched in December last year has already covered over 300,000 restaurants, with nearly half reporting significant increases in order volume and 40% noting improved revenue [3][4] Group 2 - The restaurant industry is facing challenges due to low prices and chaotic competition, prompting Meituan to take action to promote healthy industry development [3][5] - Following a government meeting, major food delivery platforms, including Meituan, have called for a halt to irrational competition and have begun to shift their subsidy strategies to provide more support and services to merchants [5][6] - Other platforms like JD.com and Taobao Flash Purchase are also adapting their strategies, with JD.com launching a "Dish Partner" recruitment plan and Taobao introducing a digital management platform to assist small merchants [6][7]

据悉，美团曾在去年12月推出首期"10亿助力金计划"，以现金和补贴形式助力优质餐饮商家发展。截至 今年7月，美团助力金已覆盖30余万餐饮商家，近半数商家反馈"小店订单量显著增长"，四成商家的收 入明显提升。 北京商报讯（记者 张天元）8月5日，据美团官方公众号，8月5日起，美团正式启动中小商户发展扶持 计划，向中小商户发放助力金，支持更多餐饮小店实现稳定增长。预计到今年年底，美团助力金将新增 覆盖超10万家餐饮小店，单店助力金最高5万元。 美团方面表示，受近期外卖行业低价、无序竞争影响，部分餐饮商家尤其是中小餐饮门店遭受了普遍冲 击。为落实"反内卷"，促进行业健康发展，美团在此前"十亿助力金"基础上进一步追加投入，重点支持 长期经营、复购高、口碑好的中小餐饮商户。除真金白银帮扶外，美团还将充分发挥在餐饮基建、数字 化运营等方面的能力，努力为中小餐饮商家提供更多经营保障。相关举措包括帮助20万家小店完成基建 升级；扩大"到店自提专属优惠"覆盖，引导堂食消费；免费开放AI工具，帮助中小商家提高经营效率等 等。 ...

Group 1 - Meituan has launched a support plan for small and medium-sized merchants, providing financial assistance to help over 100,000 small restaurants achieve stable growth by the end of the year, with a maximum support of 50,000 yuan per store [1] - Major food delivery platforms Meituan, Ele.me, and JD.com have announced a joint effort to resist "involution" competition and maintain a healthy industry ecosystem [3][4] - The recent regulatory discussions emphasize the need for these platforms to comply with various laws and regulations, promoting rational competition and a win-win ecosystem for consumers, merchants, delivery riders, and platform companies [4] Group 2 - JD.com is entering the discount supermarket sector, opening five stores in Jiangsu and Hebei in August, utilizing a large store format with a wide range of SKUs, and offering competitive pricing [4][5] - JD.com's discount supermarket model is distinct from existing small-format discount stores, leveraging supply chain advantages and focusing on mass consumer needs with prices generally lower than market norms [5][6] - The discount supermarket market is attracting interest from various players, including traditional supermarkets and snack brands, indicating a broader trend in the retail landscape [6][7] Group 3 - The rapid development of discount supermarkets is noted, with various snack brands and regional retailers expanding into this format, indicating a shift from traditional retail models [7] - Research suggests that there is significant room for optimization in the discount supermarket sector, with leading snack brands already achieving a scale of thousands of stores and possessing advantages in funding, talent, and supply chain [7]

深港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 腾讯控股(00700) | 19.54 亿元 | +3.05 亿元 | | 小米集团-W(01810) | 13.14 亿元 | +244.56 万元 | | 中芯国际(00981) | 12.65 亿元 | +2.74 亿元 | | 理想汽车-W(02015) | 12.52 亿元 | +3.00 亿元 | | 阿里巴巴-W(09988) | 12.19 亿元 | +2.55 亿元 | | 美图公司(01357) | 11.05 亿元 | +2.67 亿元 | | 快手-W(01024) | 9.07 亿元 | +3.05 亿元 | | 美团-W(03690) | 9.02 亿元 | +2.70 亿元 | | 康方生物(09926) | 8.77 亿元 | +2.90 亿元 | | 南方恒生科技(03033) | 8.68 亿元 | +7.98 亿元 | 智通财经APP获悉，2025年8月5日当天，盈富基金(02800)、腾讯控股(00700)、英诺赛科(02577)位居沪 港通（南向） ...

Core Viewpoint - Meituan has launched a support plan for small and medium-sized merchants to combat industry competition and promote healthy development, providing financial assistance to enhance their growth [1][3]. Group 1: Support Plan Details - Starting from August 5, Meituan will issue financial aid to small and medium-sized restaurants, with a maximum support of 50,000 yuan per store [1][3]. - The initiative aims to cover over 100,000 additional small restaurants by the end of the year, building on the previous 1 billion yuan support plan launched in December [3][4]. - As of July, the initial support plan had already reached over 300,000 restaurants, with nearly half reporting significant increases in order volume and 40% noting improved revenue [3][4]. Group 2: Industry Context - The restaurant industry has faced challenges due to low prices and chaotic competition, particularly affecting small and medium-sized establishments [3][4]. - Following regulatory discussions, major platforms like Meituan and Ele.me have called for a halt to harmful promotional practices, such as "zero-yuan purchases" [4][5]. - Other platforms, including JD.com and Taobao, are also shifting their strategies to support merchants, with JD.com launching a "Dish Partner" program to enhance collaboration with restaurants [5][6].