IT之家 1 月 29 日消息，美团外卖上周宣布推出"一镜到底"门店真实性核验功能，目前已在金华、银川、青 岛、哈尔滨、贵阳等 8 个城市试点上线，主要面向新入驻商家，同时也是日常抽查的重要举措。 该功能今年内将逐步推广至全国，进一步提升门店真实性核验效果，未按照规定上传视频、视频造假将受到平 台相应处置。 2025 年 12 月 4 日，外卖平台推荐性国家标准《外卖平台服务管理基本要求》发布，通过规范商户入驻审核、 日常运营管理等环节，引导外卖平台切实履行对商户的服务与管理责任。支持鼓励商户积极响应"互联网 + 明 厨亮灶"有关要求，严守食品安全底线，守护消费者"舌尖上的安全"。 01 如何拍视频呢? 1 合格视频三要素 V 一镜到底 V 拍摄完整(30s≤时长≤120s) V 线上线下信息一致(门头与资质) 2 拍摄流程与注意事项 1.先拍门头与环境,线上线下要一致: IT之家从美团外卖官方公告获悉，从 2025 年 11 月 19 日起，美团外卖平台逐步推行"一镜到底"实景验证视 频，对门店门头、资质及后厨环境等真实性进行审核。商家需拍摄最少 30 秒的"一镜到底"视频；后厨须完整 拍摄食品加工环境、出 ...

新浪科技讯 1月29日下午消息，近日，有餐饮商家入驻美团外卖平台时，发现必须上传门店"一镜到 底"视频，画面须连续、无剪辑，完整展示门店门头、经营环境、后厨实况及资质等情况。据悉 这是美 团外卖率先推出的"一镜到底"门店真实性核验功能，目前已在金华、银川、青岛、哈尔滨、贵阳等8个 城市试点上线，主要面向新入驻商家，同时也是日常抽查的重要举措。该功能今年内将逐步推广至全 国，进一步提升门店真实性核验效果，未按照规定上传视频、视频造假将受到平台相应处置。 2025年12月4日，外卖平台推荐性国家标准《外卖平台服务管理基本要求》发布。针对"幽灵外卖"问 题，标准提出了平台内商户入驻条件，商户应提供带有门店定位的"一镜到底"视频，平台应根据视频核 验定位信息与商户证照的一致性。 目前，美团外卖正多环节构筑食品安全防线：事前，提高资质审核力度，拦截处置违规入网的商户，包 括OCR识别、系统校验、一镜到底、线下验真等；事中，AI巡检和线下常态化巡检相结合，投入新技 术和新模型提高风险识别能力；事后，建立违规商家公示机制，定期处置和披露违规商家。 新浪科技讯 1月29日下午消息，近日，有餐饮商家入驻美团外卖平台时，发现必须 ...

| | 当视短出 | 香港主板 | | 创业板 | | 但生指数 | > | AHR | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 序号 | 名称 | 建设代码 | 最新价 | 张跌额 | 涨跌幅 | ADRICE | ADR换算价(HKD) | 较港股升跌 | 较港股升跌% | | | | | 621.000 | +14.000 | 2.31% | | 613.539 | -7.461 | -1.20% | | 1 | 腾讯控股 | 00700 | | | | TCEHY | | | | | 2 | 阿里巴巴-W | 09988 | 173.500 | +3.600 | 2.12% | BABA | 171.309 | -2.191 | -1.26% | | 3 | 汇丰控股 | 00005 | 137.500 | +3.000 | 2.23% | HSBC | 135.752 | -1.748 | -1.27% | | 4 | 建设银行 | 00939 | 8.030 | +0.260 | 3.35% | CICHY ...

马化腾官宣战略转向：退出京东美团投资，告别外卖大战，加大投入AI 面对激烈的市场竞争和高昂的资金消耗，腾讯选择了战略转向。马化腾在员工大会上强调，稳扎稳打仍 是腾讯的核心战略之一，目前唯一值得持续投入的领域便是人工智能。这意味着腾讯将逐步剥离非核心 投资业务，集中资源深耕科技赛道。 尽管腾讯选择退出，但外卖及即时零售赛道的竞争并未降温。美团与京东方面虽暂未明确表态未来战略 布局，但阿里巴巴已展现出持续攻坚的决心。 2026年1月初，阿里集团公布淘宝闪购2026年投入战略，将市场份额增长列为首要目标，明确表示将坚 定加大投入，力争拿下行业绝对第一的位置。同时，阿里还计划在未来几个季度重点提升高客单价用户 占比、拓展非餐零售品类，通过多维度布局扩大用户规模、增强用户粘性。 据快科技报道，1月26日，腾讯公司董事会主席兼首席执行官马化腾在2025年度员工大会上透露，腾讯 已正式退出对京东和美团的投资，腾讯高管刘炽平也同步退出了相关公司的董事会。这一决策被业内解 读为腾讯在激烈的外卖及社区团购赛道竞争中选择战略收缩，转而聚焦人工智能核心领域。 2025年，即时零售赛道上演了一场由京东率先发起的激烈外卖大战，美团迅速响 ...

新京报讯(记者秦胜南)子女返乡过年的传统团圆方式逐渐被"打破"，近年来，越来越多家庭选择"反 向"团圆，或接长辈进城或与亲朋好友旅游过春节。马年春节9天超长假期推动"反向过年"热潮持续走 高，成为春节出行新趋势。美团旅行数据显示，2026年春运期间，"反向过年"的车票预订量增长明显。 2月初至2月中下旬，"反向过年"的机票预订量同比去年增长84%。 成都的李女士一家计划春节带老人和孩子前往广东揭阳，感受国家级非物质文化遗产"英歌舞"的魅力。 美团旅行数据显示，春节期间，目的地为揭阳的机票预订量同比增长166%，主要客源来自南京、上 海、成都、杭州、宁波等地；受"英歌舞"等非遗项目带动，揭阳文旅热度同比飙升517%。 避寒游和冰雪游在春节依旧火热。哈尔滨热度依旧很高，今年吸引了南方游客前往冰雪天地。春节期 间，据美团旅行数据，哈尔滨的交通预订增速162%，上海、北京、杭州、成都、深圳、广州、南京、 济南等地游客选择在哈尔滨过大年。也有不少昆明、三亚等地暖冬游，美团旅行数据显示，机票预订量 均比去年同期增长至少5倍。 也有不少家庭热衷短途年味之旅。"在家吃完年夜饭，准备初二带着父母去自贡逛吃逛吃。"成都本地游 客 ...

对地方食材、地方风味的挖掘成为了精致餐饮的特点。"2026黑珍珠"中，"辽菜"首次上榜，榜单城市新 增南通、青岛，分别迎来2家一钻餐厅。据统计，过去三年，黑珍珠餐厅指南累计增加11个地方菜系。 美团数据显示，精致餐饮的用户构成呈现橄榄型。2025年，精致餐饮消费人群中，95后、00后占比已扩 大至37%，30岁至50岁仍是精致餐饮消费的中坚力量。此外，60岁以上的消费者数量同比增长115%。 美团副总裁、到店餐饮事业部总经理魏巍表示，需求变化下，精致餐饮行业正在进行三大改变，即店型 更小、更灵，产品更精，服务更真。 北京商报讯（记者 郭缤璐）1月28日，北京商报记者了解到，2026黑珍珠餐厅指南发布，中国内地32城 的263家上榜餐厅正式揭晓，覆盖 45 个菜系，7家餐厅成功升钻。其中，北京的上榜餐厅共35家，其中 三钻餐厅1家，二钻餐厅5家，一钻餐厅29家。升钻餐厅有2家，1996川菜·主厨餐厅由1钻升至2钻；京季 荣派官府菜由2钻升为3钻。 ...

1月15日，上海喜车未来智能科技有限公司（以下简称"喜车科技"）与美团正式签署战略合作协 议，双方宣布将整合汽车产业与本地生活服务优势，共同构建"买车用车＋本地生活"一站式服务平台。 在京东联合车企卖车，阿里和华为为车企提供智能解决方案，小米下场造车之后，美团也开始以自己擅 长的方式入局汽车行业。 为什么汽车领域对包括美团在内的跨界企业有如此强的吸引力？很显然，它们走出这一步并非一时兴 起，而是一场由外部行业剧变与内部增长焦虑共同驱动的战略突围。 首先，汽车行业的吸引力远不止销量回升或千人保有量方面尚存差距这么简单，更在于一场百年未有之 大变局带来的历史机遇。汽车正从纯粹的工业硬件，加速演变为集成能源、数据、智能与服务的超级移 动终端，其价值重心也在快速迁移。这恰恰为美团这类擅长连接、运营和服务用户的平台型公司，打开 一扇传统车企难以迅速构建的软实力之门——谁能更好地定义车生活，谁就可能掌握下一个时代的入 口。 其次，对美团自身而言，跨界汽车领域已非可选项，而是关乎未来生存空间的必答题。美团发布2025年 三季度财报显示，该公司营收微增2％至954.88亿元，净亏损达186.32亿元，同比由盈转亏。公告称，亏 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - In 2025, Chinese companies' overseas expansion did not experience a singular turning point but rather accelerated along multiple changing trajectories, significantly impacting their overseas operations [6] - The focus of overseas market layout has shifted, with compliance and organizational setup becoming prerequisites, and localization evolving from a strategic option to a fundamental requirement [6] - The importance of 2025 lies not only in what occurred but in the changes that have begun to emerge, reshaping the decision-making logic of overseas enterprises and influencing their long-term choices [6] Summary by Sections Overall Changes in 2025 - The industry coverage for Chinese companies going abroad has expanded, encompassing retail e-commerce, tea drinks, entertainment, AI, automotive, and hardware, with Southeast Asia, the Middle East, Latin America, and Africa becoming significant growth sources [14] - The technological investment has increased, and compliance challenges have intensified, with a notable shift in export structure, as evidenced by a trade surplus exceeding $1 trillion for the first time in 2025 [19][21] Country-Specific Roles in Overseas Expansion - The Global South has emerged as a crucial growth source for Chinese companies, transitioning from a supplementary market to a core strategic depth [28] - The Gulf region is becoming a key node in the global AI capability competition, with significant investments in digital infrastructure and AI technologies [31] - Competition in the European and American markets has shifted towards regulatory and compliance aspects, with stringent measures impacting market access for Chinese firms [34] Industry-Specific Changes in Overseas Expansion - The automotive industry's focus has shifted from export expansion to deep localization, with significant investments in overseas manufacturing facilities [43][48] - The global AI landscape is being restructured, with Chinese AI capabilities transitioning from a follower to a leader in the market [49] - The competitive focus in cross-border e-commerce has shifted towards fulfillment and infrastructure capabilities, reflecting the need for robust operational frameworks [6] Strategic Responses of Companies and Service Systems - Chinese brands are entering a critical window for global reputation and brand premium, with the first generation of overseas experience beginning to systematically fail [4][10] - The overseas service system is evolving from a reactive response to customer needs to a proactive global service model, indicating a shift towards comprehensive service offerings [10]

Group 1 - A 32-year-old programmer's sudden death has raised concerns about the company's health management practices, as the deceased had not undergone the required health check-ups, which the company does not acknowledge [5][6] - The company sent internal emails addressing the situation, stating that the employee had never completed health checks at their facility, despite having annual check-ups at a top-tier hospital [5][6] - Following the incident, the company announced a return to normal operations, canceling celebratory events and emphasizing the need to resume regular business activities [6] Group 2 - Tencent's CEO, Ma Huateng, announced the company's exit from investments in Meituan and JD.com, citing unsustainable cash-burning competition in the food delivery sector [8] - Tencent's investment in Meituan began in 2014, and by the end of 2022, the company had reduced its stake significantly, ultimately exiting completely by early 2026 [8] Group 3 - Li Xiang, CEO of Li Auto, faced criticism from employees after a lengthy all-hands meeting focused primarily on AI trends, with many employees expressing confusion and a desire for more concrete company direction [9] - The company reported a 19% year-over-year decline in vehicle deliveries for 2025, completing only 63.4% of its adjusted sales target [9] Group 4 - DeepSeek released a new open-source model, DeepSeek-OCR 2, which utilizes an innovative method to dynamically rearrange image components based on their meaning, enhancing AI's visual understanding capabilities [11][12] - The model's design allows for more accurate interpretation of complex documents, integrating visual understanding with reasoning and programming abilities [12] Group 5 - NIO has strengthened its intelligent driving team by hiring a former algorithm expert from Alibaba, indicating a commitment to advancing its AI and autonomous driving technologies [24][25] - The company plans to increase its computational resources and aims to regain its position among the top players in the industry through significant updates in the current year [25] Group 6 - Baidu's smart cloud division has raised its AI revenue growth target from 100% to 200%, aiming to capture a larger share of the rapidly growing AI cloud market [40] - The company has been successful in securing a significant number of AI-related projects, leading the market in both project count and total value [40] Group 7 - The automotive industry is witnessing a surge in electric vehicle models, with companies like Volkswagen and Xpeng introducing new models that emphasize advanced features and competitive pricing [42][34] - Xpeng's flying car, expected to be delivered by 2026, showcases innovative design and technology, aiming to capture market interest in the emerging flying vehicle segment [34]

Core Insights - The report highlights the overall positive trend in the A-share market, with various sectors such as finance, semiconductors, and aerospace showing strong performance, while some sectors like coal and pharmaceuticals lag behind [5][8][12] - The report emphasizes the importance of macroeconomic data and policy changes in guiding investment strategies, suggesting a balanced approach to portfolio allocation [7][11][33] Domestic Market Performance - The Shanghai Composite Index closed at 4,139.90 with a slight increase of 0.18%, while the Shenzhen Component Index closed at 14,329.91, up by 0.09% [3] - The average price-to-earnings ratio for the Shanghai Composite and ChiNext Index stands at 16.93 and 53.33 respectively, indicating a favorable long-term investment environment [7][12] International Market Performance - Major international indices such as the Dow Jones and S&P 500 experienced declines of 0.67% and 0.45% respectively, while the Nikkei 225 saw a modest increase of 0.62% [4] Industry Analysis - The report discusses the media sector, noting a decrease in fund holdings in Q4 2025, with a significant focus on the gaming sub-sector, which remains highly favored among institutional investors [13][16] - The automotive industry is projected to achieve record production and sales in 2025, driven by policies encouraging vehicle upgrades and a strong demand for electric vehicles [31][33] Investment Recommendations - The report suggests focusing on sectors with strong fundamentals and high dividend yields, such as traditional engineering machinery and shipbuilding, while also highlighting opportunities in emerging technologies like humanoid robots and AI applications [17][18][22] - Specific companies to watch include major players in the gaming sector and those involved in AI applications, as they are expected to benefit from favorable market conditions and technological advancements [16][27]