Daily Retail News 一图速览·最重要的商业新闻与行业动态 | 居然智家董事长汪林朋被曝坠楼身亡 7月27日,家居行业头部企业居然智家董事长汪林朋被曝坠楼 身亡。经多位行业人士确认,证实了此消息。此时,距离他 解除留置回归岗位仅过去5天，公司回应相关媒体称"以公告 为准",并称目前"跟监管提出需求,等监管通知再公 告"。联商网梳理发现，今年内已有三大家居上市公司创始 人被留置。除了汪林朋,红星美凯龙时任总经理车建兴、富 森美董事长刘兵也均被留置。 万辰集团高管变动 2025年7月27日，万辰集团公告称，董事长王健坤因个人精 力分配原因辞去所有职务,其姐王丽卿接任董事长,其子王 泽宁接任总经理。王健坤曾于2025年3月被国家监察部门留 置调查,5月底解除留置后恢复履职。王丽卿此前在集团关联 企业任职,王泽宁长期负责万辰旗下商业管理业务。此次人 事调整后,集团实控权仍由王氏家族掌握。 7月27日，家居行业头部企业居然智家董事长汪林朋被曝坠楼身亡。经多位行业人士确认，证实了此消息。此时，距离他解除留置回归岗位仅过去5天，公 司回应相关媒体称"以公告为准"，并称目前"跟监管提出需求，等监管通知再公告"。 ...

7月28日上榜港股通成交活跃榜个股中，微创医疗为近一个月首次上榜。 证券时报•数据宝统计显示，7月28日港股通（包括沪市港股通及深市港股通）成交活跃股合计成交 332.01亿港元，占当日港股通成交金额的24.88%，净买入金额32.47亿港元。 7月28日港股通成交活跃股榜单 上榜的成交活跃股中，阿里巴巴-W成交额为47.61亿港元，成交金额居首；其次是中芯国际、中国人 寿，成交金额分别为39.52亿港元、38.95亿港元。 | 证券代码 | 证券简称 | 成交金额 | 净买入金额 | 近一个月上榜次数 | 最新收盘价 | 日涨跌幅（%） | | --- | --- | --- | --- | --- | --- | --- | | | | （亿港元） | （亿港元） | | （港元） | | | 00700 | 腾讯控股 | 38.39 | 5.98 | 20 | 555.500 | 0.91 | | 00981 | 中芯国际 | 39.52 | 1.55 | 20 | 53.100 | 0.66 | | 01788 | 国泰君安国际 | 35.70 | 0.53 | 20 | 6.720 | 9.45 | ...

Market Overview - On July 28, the Hang Seng Index rose by 0.68%, closing at 25,562.13 points, with a total net inflow of southbound funds through the Stock Connect amounting to HKD 9.253 billion [1] Trading Activity - The total trading volume for the Stock Connect on July 28 was HKD 133.454 billion, with a net buy of HKD 9.253 billion [1] - The Shanghai Stock Connect recorded a trading volume of HKD 85.075 billion and a net buy of HKD 6.338 billion, while the Shenzhen Stock Connect had a trading volume of HKD 48.378 billion and a net buy of HKD 2.915 billion [1] Active Stocks - In the Shanghai Stock Connect, the top traded stock was Alibaba-W with a transaction amount of HKD 3.322 billion, followed by China Life and Tencent Holdings with transaction amounts of HKD 2.878 billion and HKD 2.590 billion, respectively [1] - China Life had the highest net buy amount of HKD 1.007 billion, with its stock price increasing by 1.76%. Conversely, China Ping An had the highest net sell amount of HKD 214 million, with its stock price rising by 3.49% [1] Shenzhen Stock Connect Highlights - In the Shenzhen Stock Connect, the top traded stock was SMIC with a transaction amount of HKD 1.615 billion, followed by Alibaba-W and Xiaomi Group with transaction amounts of HKD 1.438 billion and HKD 1.416 billion, respectively [2] - China Ping An recorded the highest net buy amount of HKD 462 million, with its stock price increasing by 3.49%. Meituan had the highest net sell amount of HKD 281 million, with its stock price declining by 0.54% [2] Summary of Active Stocks - A summary table of the top active stocks includes: - Alibaba-W: Transaction amount HKD 3.322 billion, net buy HKD 797 million, daily change +2.20% [2] - China Life: Transaction amount HKD 2.878 billion, net buy HKD 1.007 billion, daily change +1.76% [2] - Tencent Holdings: Transaction amount HKD 2.590 billion, net buy HKD 749 million, daily change +0.91% [2] - SMIC: Transaction amount HKD 1.615 billion, net buy HKD 453 million, daily change +0.66% [2] - China Ping An: Transaction amount HKD 1.534 billion, net sell HKD 214 million, daily change +3.49% [2]

Core Insights - JD.com has launched a new offline food delivery initiative called "Qixian Xiaochu" while previously announcing its withdrawal from online delivery subsidies, indicating a strategic shift towards offline operations [1][12] - The competition in the food delivery industry is extending from online platforms to offline stores, with both JD.com and Meituan entering the market with their respective models [3][10] - The partnership model for food items at Qixian Xiaochu offers significant incentives for restaurants, including a guaranteed minimum revenue share, which is attracting many businesses to participate [7][12] Company Strategies - JD.com has invested 1 billion yuan to recruit 1,000 signature dish partners for its Qixian Xiaochu platform, aiming to establish over 10,000 stores nationwide within three years [1][12] - Meituan's "Raccoon Canteen" has already opened ten locations in Beijing, showcasing a competitive landscape where both companies are vying for market share in offline food delivery [3][13] - The operational models of Qixian Xiaochu and Raccoon Canteen differ significantly, with JD.com taking on more operational responsibilities while Meituan allows merchants to maintain control over their supply chains [10][11] Market Dynamics - The shift towards offline food delivery is driven by the need for enhanced brand visibility, customer acquisition, and user retention, as food delivery is a high-frequency consumption scenario [13][16] - Both companies are leveraging their supply chain advantages to create a more integrated ecosystem, with JD.com focusing on fresh food supply chains and Meituan enhancing food quality through transparent operations [14][16] - The competitive landscape may lead to increased pressure on related industries, as the entry of these platforms into the offline market could disrupt existing business models [16]

Group 1 - The core viewpoint highlights the ongoing development of commercial real estate, particularly in retail, with various companies expanding their operations and enhancing consumer experiences through innovative strategies [3][5][8] - Multiple cities are implementing or enhancing tax refund policies to stimulate inbound consumption, with notable examples including Guangzhou and Dalian, which have introduced convenient tax refund services for foreign tourists [5][6] - Companies like China Resources and Poly are expanding their commercial footprints through strategic partnerships and new project developments, targeting both core cities and emerging markets [10][11] Group 2 - Alibaba is raising funds to support its international e-commerce and cloud computing businesses, while competitors like JD.com and Meituan are intensifying their efforts in instant retail [4][28] - The REITs market is experiencing significant activity, with several companies, including Cinda and China Overseas, pushing for the listing and expansion of quality assets, indicating a robust interest from investors [31][33] - High-end brands are innovating their retail experiences, as seen with LV's unique store concept in Shanghai, which has attracted considerable foot traffic and consumer interest [19][21] Group 3 - The retail landscape is evolving with brands like Ba Wang Cha Ji and Lao Xiang Ji expanding into Hong Kong, indicating a trend of brands using the city as a launchpad for global expansion [18][24] - Nike is facing challenges in the Chinese market, with a reported 13% decline in revenue, while luxury brands are leveraging experiential marketing to attract consumers [19][20] - Community-focused commercial projects are on the rise, with new concepts like DT-X aiming to enhance local shopping experiences and meet consumer demands for convenience [17][18]

Core Insights - On July 28, 2025, Alibaba-W (09988), China Life (02628), and Tencent Holdings (00700) were the top three companies by trading volume in the southbound trading of the Stock Connect, with trading amounts of 3.322 billion, 2.878 billion, and 2.590 billion respectively [1] - In the Shenzhen-Hong Kong Stock Connect, SMIC (00981), Alibaba-W (09988), and Xiaomi Group-W (01810) led the trading volume, with amounts of 1.615 billion, 1.438 billion, and 1.416 billion respectively [1] Southbound Trading - Hong Kong Stock Connect - Top active companies by trading amount: - Alibaba-W (09988): 3.322 billion, net inflow of 79.7145 million [2] - China Life (02628): 2.878 billion, net inflow of 1.007 billion [2] - Tencent Holdings (00700): 2.590 billion, net inflow of 74.9 million [2] - Other notable companies include: - Guotai Junan International (01788): 2.588 billion, net outflow of 37.9091 million [2] - SMIC (00981): 2.337 billion, net inflow of 1.1 billion [2] Southbound Trading - Shenzhen-Hong Kong Stock Connect - Top active companies by trading amount: - SMIC (00981): 1.615 billion, net inflow of 45.3191 million [2] - Alibaba-W (09988): 1.438 billion, net inflow of 358 million [2] - Xiaomi Group-W (01810): 1.416 billion, net outflow of 187 million [2] - Other notable companies include: - Tencent Holdings (00700): 1.249 billion, net outflow of 152 million [2] - Meituan-W (03690): 1.186 billion, net outflow of 281 million [2]

Core Viewpoint - The article discusses the competitive landscape of offline retail in China, focusing on Meituan's new discount supermarket project "Happy Monkey" as it aims to penetrate the lower-tier market, contrasting its strategy with Alibaba's Hema NB and highlighting the challenges and opportunities in the sector [1][2][3]. Group 1: Meituan's Strategy and Market Position - Meituan is launching "Happy Monkey" in Hangzhou, with plans for a flagship store in Beijing, targeting the lower-tier market from the outset [1][2]. - The leadership team for "Happy Monkey" is primarily composed of members from the previously downsized Meituan Youxuan, indicating a strategic shift within the company [1]. - Meituan's CEO Wang Xing has identified "food and grocery retail" as a top priority for the company's future, marking a significant strategic pivot towards offline retail [3][4]. Group 2: Competitive Landscape - Hema NB has rapidly expanded to over 300 stores since its launch, positioning itself as a key player in the offline retail space, which Meituan is now entering with "Happy Monkey" [2]. - The competition in the lower-tier market is intensifying, with "Happy Monkey" facing rivals like Hema NB and Aoleqi, highlighting the need for differentiation in product offerings and pricing strategies [11][12]. Group 3: Operational Challenges and Opportunities - Meituan's previous attempt at offline retail with "Little Elephant Fresh" failed due to high operational costs and a lack of expertise in supply chain management, which the company aims to address with its new approach [5][7]. - The "Happy Monkey" model focuses on hard discounting and high private label ratios, catering to price-sensitive consumers in lower-tier cities, which is a shift from previous high-end strategies [8][9]. - The integration of "Happy Monkey" with Meituan's existing flash purchase service could enhance product quality and supply chain efficiency, addressing past challenges faced by the flash purchase platform [10]. Group 4: Future Expansion Plans - Meituan has set an ambitious target of opening 1,000 "Happy Monkey" stores, indicating a strong commitment to scaling its offline retail presence [11]. - The company is leveraging its extensive logistics network and rider workforce to optimize resource allocation and improve operational efficiency in its new stores [13][14]. - "Happy Monkey" is part of a broader strategy that includes the development of "Little Elephant Supermarket," which targets higher-end markets, showcasing a dual approach to market segmentation [14].

近日，据香港桂强芳全球竞争力研究会等机构发布的数据显示，全球避暑胜地排名中，云南昆明位列第 一，排在俄罗斯著名的度假胜地圣彼得堡之前，昆明成了全球游客心中的 "夏日乌托邦"。今年，云南 整体较往年亦更加凉爽舒适。中国气象局数据显示 ，夏季以来，云南省平均气温21.9℃，较常年同期偏 低0.2℃，比去年同期偏低0.6℃，其中有71个县区的人体舒适度在舒适等级内，全省55%的区县适宜避 暑旅游。 美团旅行数据显示，截至7月24日，暑假期间，云南景区订单量同比增长70%，省内热门景区包括大理 市博物馆、普达措国家公园、七彩云南欢乐世界、束河古镇、石林风景区、云南野生动物园、龙门景区 等，广东、四川、江苏、浙江、重庆等地为云南景区的Top异地客源省份。在美团旅行新上线的"全国清 凉游"会场中，昆明、大理、西双版纳等云南多个目的地亦入选热门清凉城市。从昆明市集的烟火香 气，楚雄火把节的热烈狂欢到大理古镇的庭院清风，云南的夏天，藏着太多让人 "来了就不想走" 的理 由。 作为云南旅游的核心枢纽，昆明正以日均约170 趟高铁班次的交通优势，成为串联楚雄、大理等避暑目 的地的 "清凉中转站"，形成 "以昆明为圆心、2 小时车 ...

Investment Rating - The report maintains a positive outlook on the media industry, particularly emphasizing the potential of AI applications and quality content supply during the summer season [1][2]. Core Insights - The media sector is experiencing a resurgence, with a notable increase in market performance, as evidenced by a 2.15% rise in the media index compared to a 1.69% increase in the CSI 300 index [9][19]. - The report highlights the importance of AI in reshaping the industry landscape, with expectations for significant growth in public cloud services and the emergence of new business models [6][28]. - The gaming market remains a focal point, with several companies expected to benefit from upcoming AI-driven developments and a rebound in user engagement [16][30]. - The film industry is showing signs of recovery, with ticket sales reaching 287.81 billion yuan and a notable increase in audience numbers compared to previous years [19][20]. Market Performance Review - The media index saw a 2.15% increase last week, underperforming the CSI 300 index by 0.46%, ranking 18th among all sectors [9][12]. - The gaming sector continues to dominate the iOS sales charts, with Tencent's titles consistently leading the rankings [16][17]. - The film market is recovering, with ticket sales for the summer season surpassing 49 billion yuan, driven by popular releases [28][30]. Industry Developments - AI technology is rapidly transforming the media landscape, with significant advancements in applications and user engagement [28][29]. - Major companies like Alibaba and Tencent are making strides in AI development, with Alibaba's AI glasses and Tencent's gaming innovations being highlighted [28][29]. - The report suggests a focus on quality content and strategic positioning within the AI space as key drivers for future growth in the media sector [6][28].

Core Insights - JD's new delivery service "Qixian Xiaochu" officially launched on July 22, following a two-day trial operation, aiming to innovate the food delivery model distinct from Meituan [1] - The service focuses on supply chain innovation to provide quality and affordable food while helping restaurants increase sales and profits [1] - JD plans to recruit partners for 1,000 signature dishes, investing 1 billion yuan over three years, with over 20,000 applications received within a day [4][5] Industry Challenges - The Chinese food delivery industry faces a closed-loop dilemma characterized by platform commissions, merchant cost pressures, and rider overwork, exacerbated by a recent price war [2] - Complaints from consumers and merchants highlight issues such as long wait times and increased costs, while riders experience high stress and penalties [2] - Major players like Meituan and JD are attempting to shift from subsidy-driven competition to value creation, yet aggressive promotions continue [2][3] Regulatory Environment - The State Administration for Market Regulation has urged major platforms, including Ele.me, Meituan, and JD, to comply with e-commerce laws and promote a healthy ecosystem for consumers, merchants, riders, and platforms [3] Business Model and Vision - JD's "Qixian Xiaochu" aims to be a quality restaurant production platform, allowing merchants and chefs to scale their offerings nationally [5] - The pricing strategy targets meals between 10 to 30 yuan, with a focus on providing trustworthy and affordable options for consumers [6] - JD emphasizes its supply chain advantages to maintain quality and reduce costs, aiming to eliminate low-quality competitors [6] Market Reception - Initial sales data shows over 1,000 orders for Qixian Xiaochu, with a variety of dishes offered, although early reviews indicate common delivery issues [8] - The industry narrative continues to focus on "anti-involution," with Meituan investing in infrastructure and partnerships to enhance service quality [8]