消费市场的战火越来越猛。6月23日，阿里、美团同时调整策略。阿里巴巴集团CEO吴泳铭发布全员邮件，宣布即日起，饿了么、飞猪合并入阿里中国电商 事业群。美团则是全面拓展即时零售，继续进攻京东强势的3C等品类的体验。两者接连放话时，京东正在外卖、酒旅加速突击。 如今，为了痛击对手要害，抢夺存量，电商巨头纷纷设法整合现有资源，尽可能让砸下的投入更"划算"。供应链深厚的京东、电商大而全的阿里、本地资源 过硬的美团，正展开一场更为胶着的"三国杀"。 调整业务板块 阿里的国内电商业务再添两位大将——饿了么和飞猪。据北京商报记者了解，此次调整后，范禹继续担任饿了么董事长兼CEO，向阿里电商事业群CEO蒋凡 汇报。南天继续担任飞猪CEO，向蒋凡汇报。饿了么飞猪继续保持公司化管理模式，业务决策执行上与中国电商事业群集中目标、统一作战。 这意味着阿里将进一步整合集团业务。飞猪、饿了么、淘天在各自领域有多年的能力和资源积淀，会师之后，将会发挥各自优势和长项，构建更加完整的大 消费服务体系。特别是即时零售领域，淘宝闪购与饿了么将加强协同，全面打通各项资源。 "这是我们从电商平台走向大消费平台的战略升级。未来，我们将更多从用户角度出发 ...

Core Points - The Shanghai Composite Index opened lower but closed higher, with the CES300 index rising by 0.43% to 4723.7 points, with a trading volume of 268.774 billion [1] - The CES300 index has decreased by 1.51% over the past month and 3.92% over the past three months, while it has increased by 6.19% year-to-date [1] - The CES300 index is designed to reflect the overall performance of eligible securities under the "Shanghai-Hong Kong Stock Connect" and "Shenzhen-Hong Kong Stock Connect" [1] Index Holdings - The top ten holdings of the CES300 index include Tencent Holdings (8.18%), Alibaba-W (5.33%), HSBC Holdings (4.06%), Xiaomi Group-W (2.51%), Kweichow Moutai (2.46%), China Construction Bank (2.36%), Meituan-W (2.02%), AIA Group (1.84%), CATL (1.74%), and Ping An Insurance (1.63%) [2] - The market share of the CES300 index holdings is 51.98% from the Hong Kong Stock Exchange, 29.89% from the Shanghai Stock Exchange, and 18.13% from the Shenzhen Stock Exchange [2] - The industry breakdown of the CES300 index holdings shows that finance accounts for 30.71%, consumer discretionary for 16.00%, communication services for 13.01%, information technology for 9.04%, industrials for 8.66%, consumer staples for 6.36%, healthcare for 4.70%, materials for 3.42%, utilities for 3.01%, energy for 2.98%, and real estate for 2.11% [2] Fund Tracking - Public funds tracking the CES300 index include Dachen CES300C and Dachen CES300A [3]

Core Insights - Meituan's preferential service has suddenly suspended operations in certain regions, indicating a strategic shift rather than a complete shutdown [1][2][4] - The company aims to leverage its existing supply chain and logistics network to explore new retail models, particularly focusing on instant retail and community retail [4][5] Group 1: Service Suspension - Meituan's preferential service was unexpectedly halted on June 23, with a notice indicating a "partial business adjustment" [1] - The service suspension affected multiple regions, leading to confusion among users and suppliers [2] - Meituan representatives clarified that the service is not entirely closed but is part of a strategic transformation [2][4] Group 2: Strategic Shift - The company plans to expand its instant retail operations and enhance its small elephant supermarket initiative, aiming for a strategic upgrade of Meituan's preferential service [4] - Meituan will utilize its established supply chain and distribution network to explore a "next-day delivery + self-pickup" model, focusing on fresh food and grocery supply chains [4] - The shift towards instant retail is seen as a response to the competitive landscape, where companies like JD, Taobao, and others are also entering the instant retail space [4][5] Group 3: Industry Context - The community group buying sector has faced significant challenges, with many companies either shutting down or pivoting their business models [5] - Meituan's preferential service is adjusting its pricing strategy to improve profitability while reducing subsidies and focusing on core competencies [5] - Competitors like Duoduo Maicai are also adapting by introducing instant delivery options, indicating a broader trend in the industry towards more efficient delivery models [5]

5、寒武纪：将回购价格上限调整为不超过818.87元/股。中晶科技：控股股东、实际控制人徐一俊计划 减持不超过2%公司股份。2连板英联股份：公司复合集流体板块的产业化进度不断推进。浪潮信息：拟 2亿元-3亿元回购股份 用于减少公司注册资本。5连板诺德股份：铜箔业务应用于固态电池领域的收入 占公司总营业收入不足1%。4连板长城军工：控股股东及实际控制人等无正在筹划涉及长城军工的重大 资产重组、收购等重大事项。 1、智通财经记者从业内独家获悉，六成保险机构计划2025年加大港股投资规模，香港是险资境外投资 首选市场。 2、美团优选于今日关停了部分区域运营，目前仅保留广东、杭州等部分区域的业务；公司回应称将全 面拓展即时零售。 3、全国工商联汽车经销商商会：呼吁汽车生产厂家优化返利政策缩短返利兑现账期。 4、位于叙利亚西部哈塞克省卡斯鲁克地区的美国军事基地遭到袭击。 智通财经6月23日晚间新闻精选 ...

Group 1 - Alibaba has merged Ele.me and Fliggy into its China e-commerce business group to enhance operational efficiency and unify goals in the instant retail and local life + tourism services sectors [2][4] - Meituan is expanding its instant retail operations, with plans to cover all first and second-tier cities and supply chains across 200 quality county-level agricultural areas [2][6] - The competition among e-commerce platforms is shifting from price wars to operational system capabilities, focusing on supply chain efficiency and service quality [2][6] Group 2 - Taobao's flash purchase service, in collaboration with Ele.me, has seen daily orders exceed 60 million, marking a significant increase from 40 million in less than a month [3][5] - The integration of Ele.me and Fliggy into the Taobao ecosystem aims to enhance resource allocation, improving delivery and product coverage in the instant retail sector [4][8] - The 618 shopping festival saw a 10% year-on-year increase in GMV for Taobao, indicating a rise in user engagement and platform activity [5][6] Group 3 - Instant retail has become a focal point in the 618 e-commerce battle, with a reported sales growth of 18.7% year-on-year, reaching 29.6 billion yuan [6][7] - The shift in competition strategy from subsidies to refined operational strategies emphasizes the importance of supply chain management and service capabilities [6][8] - Meituan has established over 30,000 flash warehouses nationwide, indicating a strong commitment to enhancing its instant retail service capabilities [7][8]

实际上，美团优选转型或有先兆。6月23日上午，美团发布消息称，美团优选将进一步利用已建设的供应链及仓配网络，集中资源聚焦优势区域，继续探 索"次日达+自提"模式和社区零售新业态；同时，深耕生鲜食杂供应链，为美团用户提供更具质价比的商品。 6月23日，#美团反内卷优选转型##美团优选关闭#等话题冲上微博热搜。 消息称，多地网友在社交媒体上晒出美团优选页面弹出的业务调整通知消息，消息称"由于局部业务调整，您所在的区域自6月23日起将暂停接单"。根据 社交媒体上流传的通知，美团优选业务调整，近期会退出部分亏损地区，广东、福建、浙江等地保持正常运营。 此后，美团回应称，美团优选在转型升级，并进行局部业务调整，不存在部门解散的情况。 "即时零售比拼激烈，美团需要集中资源。"网经社电子商务研究中心生活服务电商分析师陈礼腾对证券时报·e公司记者表示，美团优选近期战略调整呈现 业务聚焦与效率提升并举的特点。通过退出非核心亏损区域，集中资源深耕广东、浙江等优势市场，其"次日达+自提"模式得以在供应链及仓配网络支撑 下实现更精准运营。这样既保留核心业务竞争力，又避免盲目扩张带来的持续失血，符合社区团购行业回归盈利本质的整体趋势。 ...

Group 1 - Alibaba Group's CEO announced the merger of Ele.me and Fliggy into Alibaba's China e-commerce business group, aiming for a strategic upgrade towards a large consumer platform [1][2] - The integration is driven by the recent growth in instant retail, with Alibaba increasing investments and resource consolidation to enhance user experience and operational efficiency [1][2] - During the recent 618 shopping festival, instant retail showed strong growth, while traditional e-commerce growth began to slow down, prompting a shift in business models within the industry [1][3] Group 2 - Alibaba's Taobao Flash Sale and Ele.me reported over 60 million daily orders, with 75% of orders now from non-tea drink categories, indicating a significant expansion in product offerings [2] - The 618 sales event saw a double-digit increase in active users and a 10% year-on-year growth in net sales after refunds, showcasing the effectiveness of the new business model [2] - Competitors like Meituan and JD.com are also expanding into instant retail, with Meituan reporting over 100 million users during the 618 event and JD.com experiencing explosive growth in its delivery service [3][6] Group 3 - The instant retail market in China reached 650 billion yuan in 2023, with projections to exceed 2 trillion yuan by 2030, driven by changing consumer habits and the demand for immediate satisfaction [3] - Both Alibaba and JD.com are leveraging cross-selling strategies to enhance user engagement and profitability, indicating a common approach among major players in the e-commerce sector [6][7] - The establishment of Alibaba's China e-commerce business group aims to create a comprehensive consumer service system, reflecting a broader trend of integrating various business units for enhanced synergy [7]

Core Viewpoint - Meituan's community group buying business, Meituan Youxuan, has been suspended and is undergoing a strategic transformation, reflecting a broader industry trend of declining interest in community group buying as companies shift focus to new opportunities [1][5][10]. Business Suspension and Adjustment - Meituan confirmed the suspension of Meituan Youxuan's operations, with affected regions including Fujian, Hubei, Sichuan, Jiangsu, and Beijing, and stated that the service will be paused due to business adjustments [1][5]. - The announcement was unexpected for users and "group leaders," with reports of service cessation without prior explanation [2][5]. - Internally, Meituan plans to focus on leveraging its supply chain and logistics network, exploring new retail models, and ensuring no layoffs for existing employees [5][6]. Industry Trends and Shifts - The adjustment in Meituan's strategy is seen as a move towards reducing intermediary roles and shifting to a B2C e-commerce model, with a potential decrease in self-pickup options [6][10]. - The community group buying sector has faced significant challenges, with many platforms, including Meituan, experiencing continuous losses and a shift in focus towards instant retail and overseas markets [7][11]. - The community group buying model has been under pressure due to increased competition and a shrinking user base, particularly among older demographics [10]. Financial Performance - Meituan's new business segment, which includes Meituan Youxuan, reported substantial losses, with Q1 2021 losses reaching 80.4 billion yuan, a year-on-year increase of 489.9% [9]. - Despite some efficiency improvements in 2023, the losses and loss rates remain significant, attributed to slower-than-expected growth and intense market competition [10]. Future Outlook - Meituan plans to adjust its strategy for community group buying in 2024, focusing on reducing operational losses and improving the business model, while shifting away from an emphasis on market share [10]. - The industry expert suggests that instant retail may prove to be a more sustainable and profitable model compared to community group buying, as evidenced by the growth of platforms like Meituan Shanguo [11].

Core Viewpoint - Meituan is undergoing a strategic adjustment in its operations, particularly in the Meituan Youxuan segment, focusing on expanding instant retail and enhancing its supply chain capabilities while not completely shutting down the Youxuan business [2][3]. Group 1: Business Adjustments - Starting June 23, Meituan Youxuan has suspended order-taking in several regions due to "business adjustments," but this does not indicate a complete shutdown of the service [2]. - The company aims to concentrate resources in advantageous areas and explore new community retail models, including "next-day delivery + self-pickup" [2][3]. Group 2: Financial Performance - Meituan's new business segment, which includes Youxuan, reported a loss of approximately 7.27 billion yuan in 2024, a significant reduction from the 20.17 billion yuan loss in 2023, yet it remains in a state of continuous loss [3]. - The community group buying business has been costly, and the recent adjustments are expected to reduce costs and focus on key areas [3]. Group 3: Focus on Instant Retail and Xiaoxiang Supermarket - Meituan is prioritizing its instant retail segment, with plans to enhance the Meituan Flash Purchase service, which has seen significant user engagement and sales growth during the recent 618 shopping festival [3]. - Xiaoxiang Supermarket is expanding its coverage to all first- and second-tier cities, with plans to reach 200 quality agricultural production areas, aiming for over 20 billion yuan in agricultural product sales this year [4].

Group 1 - Multiple ETFs including the Shanghai 380 ETF and Shanghai 580 ETF have been reported to the CSRC, with the Shanghai 380 Index optimization officially implemented [1] - The total market size of bond ETFs has surpassed 350 billion yuan, with two bond ETFs exceeding 50 billion yuan in scale [1] - The Indian PC market is expected to grow by 6% in 2025, driven by the demand for laptops and productivity tools [1] Group 2 - A new national standard for household refrigerators will be implemented in June 2026, reducing energy consumption by 40% [2] - China Railway has denied rumors regarding discounts for elderly passengers on high-speed trains [2] Group 3 - ByteDance has launched an AI product called "Tanfang" to provide food-related smart guidance services, currently only available through Douyin mini-programs [3] - Meituan has decided to exit some loss-making areas while exploring new community retail models [3] - ByteDance has refuted rumors about the departure of its commercial vice president [4] Group 4 - Hillhouse Capital has expressed interest in acquiring Starbucks' China business, with an estimated valuation of 5 to 6 billion USD [4] - The autonomous driving company WeRide has secretly submitted a listing application in Hong Kong [4] - Domestic GPU company Muxi Integrated Circuit has completed its listing guidance [4] Group 5 - Xiansheng Pharmaceutical has halted the development of its Alzheimer's drug [5] - JinKai New Energy plans to inject up to 1.247 billion yuan into its subsidiary to enhance its operational capabilities [5] - China Pacific Insurance has received approval for a new assistant general manager [5] Group 6 - Fuda Co. plans to establish a wholly-owned subsidiary with an investment of 475 million yuan, while also optimizing its organizational structure [6] Group 7 - The Shanghai Composite Index rose by 0.65%, with over 4,400 stocks in the market increasing in value [7][8]