智通财经APP获悉，友邦保险-R(81299)、安踏体育-R(82020)、京东健康-R(86618)上一交易日沽空比率 位于前三位，分别为100.00%、100.00%、100.00%。阿里巴巴-W(09988)、泡泡玛特(09992)、小米集团- W(01810)的沽空金额位居前三，分别为19.51 亿元、14.69 亿元、14.06 亿元。中国平安-R(82318)、腾讯 控股-R(80700)、友邦保险-R(81299)的偏离值位居前三，分别为61.20%、48.74%、34.93%。 | 股票名称 | 沽空金额↓ | 沽空比率 | 偏离值 | | --- | --- | --- | --- | | 阿里巴巴-W(09988) | 19.51 亿元 | 14.77% | 0.58% | | 泡泡玛特(09992) | 14.69 亿元 | 24.66% | 0.25% | | 小米集团-W(01810) | 14.06 亿元 | 19.02% | -1.96% | | 腾讯控股(00700) | 9.55 亿元 | 7.50% | -3.65% | | 美团-W(03690) | 5.28 亿元 | ...

| 股份代號: | 03690 | | --- | --- | | 上市法國名稱: | 美國 - W | | 日期 (日 / 月 / 年): | 19/12/2025 - 19/01/2 | | REAL PRODUCTION | 大股東/董事/最高行政人員名 作出披露的 買入 / 要出或涉及的 每般的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 相 | | --- | --- | --- | --- | --- | --- | --- | | | 日前的出 | | | (語参閱 上犹* 記 | | 有投票權版(日/月/年) | | | | | | | | GEF | | CS20260115E00512 | JPMorgan Chase & Co. | 1001(L) | 7.466,850(I | HKD 104.3969 | 277,641,328(L) | 5.01(L)12/01/2026 | | | | 1403(S) | 9,197,389(S) | | 107.087.874(S) | 1.93(S) | | | | | | | 141.959.878(P) | ...

丨2026年1月12日—1月18日丨 #电商零售 NO.1 千问App全球首发点外卖、买东西、订机票等AI购物功能 1月15日，千问App宣布全面接入淘宝、支付宝、淘宝闪购、飞猪、高德等阿里生态业务，在全球首次 实现点外卖、买东西、订机票等AI购物功能，并向所有用户开放测试。此次升级将上线超400项AI（人 工智能）办事功能。 点评：底层技术的突破使千问得以快速融合至全业务体系，实现技术势能向业务动能的高效转化，赋予 其构建超级消费入口的持续进化能力与响应效率。 #物流供应链 NO.1 普洛斯新设中国CEO职位创始成员赵明琪出任 1月14日，普洛斯集团宣布任命赵明琪为普洛斯中国CEO（首席执行官）。这是普洛斯新设职位，主要 面向管理中国市场的物流及产业基础设施、算力中心、新能源等相互协同的业务板块，向全球首席执行 官梅志明汇报。 点评：普洛斯的这一任命有助于其在中国市场中更好地整合资源，提升运营效率。通过设立中国CEO职 位，普洛斯能够更精准地应对中国市场的特殊需求和挑战，提升市场竞争力。 NO.2 德邦退市京东物流溢价35%接盘 1月13日，德邦股份（SH.603056）发布公告称，公司拟以股东会决议方式主 ...

Core Viewpoint - The market capitalization of Google (Alphabet) is approximately $4 trillion, while the combined market capitalization of China's top internet companies is only about $1.8 trillion, indicating a significant disparity in valuation and market perception [25][28][30]. Market Capitalization Comparison - As of the end of 2025 or early 2026, the estimated market capitalizations of major companies are as follows: - Google (Alphabet): ~$40,000 million - Tencent: ~$5,917 million - Alibaba: ~$3,333 million - Xiaomi: ~$1,987 million - Pinduoduo: ~$1,486 million - Meituan: ~$975 million - NetEase: ~$852 million - JD: ~$471 million - Trip.com: ~$383 million - Kuaishou: ~$345 million - Tencent Music: ~$302 million - The total market capitalization of the top 10 Chinese internet companies is estimated to be around $17,000–20,000 million, which is more than 2.2 times less than that of Google [28][3][25]. Competitive Landscape - The primary issue in the Chinese internet sector is not a lack of effort but rather a misdirection in competitive strategies, focusing excessively on user acquisition, subsidies, and speed, leading to a dangerous cycle of competition [30][5]. - This competitive model, which relies on free services to gain scale and eliminate competitors, is damaging long-term sustainability in the industry [31][32]. Impact on Entrepreneurship - The current environment is systematically clearing out entrepreneurs, reducing their roles to mere tools for larger platforms, and stifling genuine innovation [34][37]. - The lack of reasonable pricing, stable profits, and long-term investment in research and development is leading to fewer companies being profitable and surviving [35][36]. Employment Challenges - The concentration of the industry into a few dominant platforms is contributing to job losses, with monopolistic structures eliminating positions rather than technological advancements like AI [39][10]. - As industry profits shrink, salaries are also compressed, leading to fewer job opportunities for young people [11][39]. Comparison with Google - Google’s strength lies not in the number of applications but in its focus on foundational capabilities, allowing ecosystem partners to thrive and generating productivity-based revenue rather than merely capturing attention [40][41]. - The competitive landscape in China, characterized by internal strife, hinders the emergence of globally competitive companies [41][42]. Future Outlook - If the current competitive practices continue, the industry may end up with a few platforms and many dependent entities, leading to a degraded ecosystem rather than a mature industry [42][45]. - A healthy internet ecosystem should support entrepreneurship and job creation, rather than relying solely on free services as a competitive tool [44][51].

虽然充满挑战，但这种探索对行业也是好事儿，最终利好消费者。 汽车零售行业的苦，早就不是秘密了。 价格战打了一年又一年，利润薄得像纸。4S店倒闭潮接连不断，经销商们一边扛着主机厂的压库任务，一边还要应对无休止的内卷。 主机厂何尝不是这样？直营模式试了，经销商体系改了，来回试探渠道边界，却始终没能跳出"流量贵、转化难"的怪圈。 互联网大厂们倒是看得明白，万亿级的汽车市场，成了存量竞争下的必争之地。从抖音的兴趣电商卖车，到京东切入卖车养车模式，从拼多多的补贴试 水，到天猫的生态联动，玩家们纷纷入局。 而现在，就连消费者熟知送外卖的美团，也携手喜车科技闯进汽车赛道。 1月15日，美团和喜车科技携手闯入汽车新零售领域，双方将依托各自在汽车产业与本地生活领域的核心优势，围绕"买车用车+本地生活"构建新零售生 态，推动汽车新零售数智化转型，为消费者打造便捷、优惠、可靠的本地化汽车生活服务体验。 这波跨界，真的能为汽车零售撕开新口子吗？ 花式破局，未解之痛 当汽车行业从增量转入存量，所有玩家都在焦虑中探索。 主机厂曾迷信直营，以为能掌控一切。但很快发现，不是所有品牌都能做直营。汽车消费链路太长、频次太低，从获客到售后，单靠自 ...

Group 1 - Major blue-chip stocks mostly declined, with HSBC Holdings closing at HKD 128.695, up 0.15% from the previous close in Hong Kong; Tencent Holdings closed at HKD 612.833, down 0.76% [2] - Tencent Holdings reported a latest price of HKD 617.500, with a decrease of HKD 4.500 or 0.72%; its ADR price is HKD 612.833, reflecting a decline of HKD 4.667 [3] - HSBC Holdings had a latest price of HKD 128.500, increasing by HKD 0.300 or 0.23%; its ADR price is HKD 128.695, showing a slight increase of HKD 0.195 [3] Group 2 - Other notable stocks include China Construction Bank at HKD 7.830, down 0.25%, and Xiaomi Group at HKD 37.100, down 2.01% [3] - AIA Group saw a decline of HKD 1.300 or 1.53%, closing at HKD 83.550; its ADR price is HKD 83.075, down HKD 0.475 [3] - Meituan-W closed at HKD 100.000, down 0.79%, while JD.com saw a decrease of HKD 1.500 or 1.30%, closing at HKD 113.600 [3]

具体到评选过程，"匿名评委全年暗访"是黑珍珠餐厅指南坚守的重要评审原则。一些参与过评选的评委 表示，评委匿名是指不暴露任何黑珍珠评选相关信息以及评委身份，完全作为一个普通食客身份，进行 用餐体验与观察，同一家餐厅也会有不同的评委重复试吃，以确保结果的客观和公正。目前，黑珍珠评 委以"饕客"为主，占比已经超过77%，每年会按照30%的轮换率更换，且每一任期不超过5年。2026年 黑珍珠的榜单评选在评审委员会提名的基础上，增加AI技术，通过专业与智能协同驱动，让全球优秀 的餐厅更容易被发现。 本报讯（沈阳日报、沈报全媒体高级记者刘洋）1月16日，美团黑珍珠餐厅指南发布消息称，其2026年 榜单评选已拓展至江苏省南通、山东省青岛、河北省石家庄以及辽宁省沈阳。其中，沈阳将成为"黑珍 珠榜单"探索东北三省地标美食以及代表性餐厅的始发城市。据悉，1月27日，黑珍珠餐厅指南将正式发 布新一年中国内地的榜单评选结果，届时，沈阳的餐厅榜单也将揭晓。 自2018年推出以来，黑珍珠餐厅指南一直倡导以"中国味蕾"标准评选属于"中国人自己的美食榜"，凝聚 着中餐文化对美食的深层理解。如今，"黑珍珠"不仅为高品质消费者提供决策参考，也在 ...

Group 1: Dingdong Maicai Expansion - Dingdong Maicai has accelerated its market penetration by opening new warehouses in Taizhou and Yancheng, Jiangsu, enhancing its fresh food delivery services [1] - The platform launched a "True Assurance Fish" series during the Spring Festival, offering free processing services and over 300 low-GI and organic products [1] - The new warehouses will leverage the existing supply chain capabilities validated in the Jiangsu-Zhejiang-Shanghai region, focusing on differentiated competition in the fresh food sector [1] Group 2: Walmart and Xiaohongshu Collaboration - Walmart has partnered with Xiaohongshu to launch a co-branded retail experience called "Mashi Store" in Shenzhen, featuring over ten new products [2] - The collaboration emphasizes simple ingredients and fresh experiences, utilizing Walmart's global supply chain and Xiaohongshu's community insights for product development [2] - This initiative represents Walmart's innovative approach in the instant retail sector, combining online and offline channels to engage younger consumers [2] Group 3: Linli Tea Brand Financing - Linli, a lemon tea chain, has secured tens of millions in Series A funding, with a valuation nearing 1 billion [4] - The funds will be allocated for brand development, supply chain upgrades, and organizational optimization, as the brand aims to strengthen its supply chain capabilities [4] - Linli plans to expand its product matrix and enhance its emotional connection with consumers through a "tea + IP" model [4] Group 4: Meituan Black Pearl Restaurant Guide Expansion - Meituan's Black Pearl Restaurant Guide will expand to four new cities in 2026, including Nantong, Qingdao, Shijiazhuang, and Shenyang [5] - The new cities will help explore local culinary landmarks and representative restaurants, with the updated list to be released on January 27 [5] - The Black Pearl Guide has been increasing its city coverage annually since 2023, aiming to grow from 19 to 32 cities by 2026 [5] Group 5: Hema Fresh Store Openings - Hema Fresh has opened its first store in Shanxi, covering over 4,000 square meters with more than 7,000 product offerings [7] - The brand's community supermarket, "Chao He Suan NB," is set to open two new locations in Dongguan on January 23, 2026 [7] Group 6: New Product Launches - San Yuan Dairy has introduced a new "Beijing Yogurt" line with four flavors, emphasizing natural ingredients and high protein content [11] - The new yogurt products are available for purchase on JD.com, priced at 29.9 yuan for a pack of four [11] Group 7: Corporate Developments - China Resources Beverage has appointed a new executive director and chairman, with Gao Li taking over leadership roles [14] - The company has established a stable governance system and operational resilience to adapt to market cycles [12]

从连续性进行统计， 有2只股获南向资金连续3天以上净买入，连续净买入天数较多的有腾讯控股、阿 里巴巴-W，连续净买入天数分别为8天、5天。以其间净买入金额统计，净买入金额最多的是腾讯控 股，合计净买入为96.85亿港元，其次是阿里巴巴-W合计净买入为44.24亿港元。（数据宝） 1月16日南向资金成交活跃股 | 代码 | 简称 | 成交金额（万港元） | 成交净买入（万港元） | 今日涨跌幅（%） | | --- | --- | --- | --- | --- | | 00981 | 中芯国际 | 570236.85 | 108401.22 | 2.39 | | 01810 | 小米集团-W | 470068.85 | 86704.08 | -2.01 | | 01347 | 华虹半导体 | 269679.07 | 58509.58 | 7.39 | | 09992 | 泡泡玛特 | 342964.15 | 14181.56 | -5.60 | | 02050 | 三花智控 | 94099.67 | 12986.42 | 2.67 | | 09988 | 阿里巴巴-W | 695230.42 | 3959.6 ...

1月16日，由北京市商务局指导，北京日报报业集团和北京市商业联合会共同主办，北京商报社承办的 2026北京商业品牌大会暨2025年度（第二十一届）北京十大商业品牌揭晓活动在北京国际饭店成功举 办。本次活动以"新需求 新供给"为主题，政府领导、商业专家及企业高层代表齐聚一堂，共同见证了 代表北京商业最高水平的"2025年度北京十大商业品牌"等优秀品牌案例的揭晓。 北京市商务局党组成员、副局长石崇远 活动现场，北京市商务局党组成员、副局长石崇远从"品质、品位、品牌"角度致辞，为北京商业的高质 量发展指明了着力方向。他表示，在北京，涌现出一批消费地标品牌，创新出一批潮玩时尚品牌，拥有 着一批特色烟火品牌。从新锐地标到时尚潮玩，再到街头小店，这些行业的成功案例证明了品牌的建设 没有捷径，只有坚守品质，提升品位，才能在激烈的市场竞争中脱颖而出。石崇远强调，北京的商业图 景迎来深刻可喜的变化，品牌越来越有"层次感"，体验越来越有"舒适感"，环境越来越有"归属感"。 2025年是北京商业奋楫争先的一年，围绕"潮尚""聚变""破局"等关键词，北京十大商业品牌用不断创新 来实践"以新需求引领新供给，以新供给创造新需求"。其中， ...