Market Overview - On November 4, the Hang Seng Index fell by 0.79%, closing at 25,952.40 points, while southbound funds through the Stock Connect recorded a net purchase of HKD 9.832 billion [1] Trading Activity - The total trading volume for the Stock Connect on November 4 was HKD 100.097 billion, with a net purchase of HKD 9.832 billion. Specifically, the Shanghai Stock Connect had a trading volume of HKD 61.300 billion and a net purchase of HKD 5.202 billion, while the Shenzhen Stock Connect had a trading volume of HKD 38.796 billion and a net purchase of HKD 4.631 billion [1] Active Stocks - In the Shanghai Stock Connect, Alibaba-W had the highest trading volume at HKD 44.666 billion, followed by SMIC and Xiaomi Group-W with trading volumes of HKD 26.778 billion and HKD 22.200 billion, respectively. In terms of net buying, Xiaomi Group-W led with a net purchase of HKD 0.908 billion, despite its closing price dropping by 2.91%. Conversely, Alibaba-W experienced the highest net selling at HKD 0.586 billion, with a closing price decline of 2.57% [1] Shenzhen Stock Connect Highlights - In the Shenzhen Stock Connect, Alibaba-W also topped the trading volume with HKD 29.600 billion, followed by Tencent Holdings and SMIC with trading volumes of HKD 17.460 billion and HKD 15.760 billion, respectively. Tencent Holdings saw the highest net purchase of HKD 0.379 billion, with a slight closing price increase of 0.16%. The stock with the highest net selling was Sunny Optical Technology, which had a net selling amount of HKD 0.325 billion, closing down by 4.59% [2]

Core Insights - The competition in the instant retail market is intensifying this year, with major players like Taobao Flash Purchase, Meituan, and JD engaging in rapid "minute-level" races to capture market share [1] - The controversy surrounding the potential renaming of Ele.me to Taobao Flash Purchase highlights the aggressive market presence and strategy of Taobao Flash Purchase in the instant retail sector [1][2] Group 1: Business Integration and Strategy - Ele.me, as Alibaba's leading food delivery service, and Taobao Flash Purchase are collaborating to enhance their market presence, leveraging each other's supply chain resources [1][4] - Alibaba's organizational restructuring, which includes integrating Ele.me and Fliggy into its China e-commerce business group, signifies a strategic shift towards a comprehensive consumer platform [4][5] - The collaboration between Ele.me and Taobao Flash Purchase has led to a significant increase in daily orders for Taobao Flash Purchase, surpassing 60 million orders [4] Group 2: Market Expansion and Product Offering - Taobao Flash Purchase has rapidly expanded its offerings beyond food and daily necessities to include beauty and apparel products, reflecting a broader market strategy [7] - The integration of offline and online resources has resulted in a substantial increase in non-food orders, with over 130 million non-food orders recorded, accounting for more than 16% of total daily orders [7] - The launch of "Taobao Convenience Store" aims to provide a comprehensive range of products with a promise of 30-minute delivery, enhancing the instant retail experience [8] Group 3: Competitive Landscape - The competition among instant retail platforms has escalated, with both Taobao Flash Purchase and Meituan achieving daily order volumes of 120 million, indicating a fierce battle for market dominance [6][8] - The integration of instant retail services into Alibaba's broader e-commerce strategy aims to meet consumer demand for a wider variety of products delivered quickly, moving beyond traditional food delivery [8][9] - Membership systems are being strengthened to enhance consumer loyalty, with Alibaba's Taobao boasting over 100 million platinum members who exhibit high purchasing frequency [9]

11月4日，一场关于"饿了么改名淘宝闪购"的争议在市场上炸开了锅。尽管饿了么对此未进行回应，但该舆论现象从侧面也反映出，今年淘宝闪购在即时零 售市场的声量和攻势的确更凶猛。 饿了么是阿里外卖市场的排头兵，淘宝闪购是冉冉升起的增量新星。前者受益于闪购的非餐流量带动，后者也需要饿了么沉淀的供应链资源，双方共同构建 起阿里的即时零售生态。无论饿了么App是否会更名，阿里都必须设法理顺并整合本地生活资源，集中火力从美团、京东手中抢出市场。 打通业务资源 据了解，有网友称饿了么App最新内测版本已更名为"淘宝闪购"，版本号更新至12.0.1。此次变动是否属实，截至发稿，饿了么相关负责人未向北京商报记 者回应。记者在应用商店看到，目前最新的饿了么App外观融入了淘宝闪购标志性的橙色，形成"蓝橙"呼应的界面形象，App名字仍为"饿了么"。 编者按：今年"双11"，即时零售战场硝烟四起，淘天、美团、京东上演"分钟级"竞速比拼，近场电商在供给、消费和生态上正逐步重构。为了赢到最后，各 方玩家正加速在供应链、履约效率与用户体验之间找到平衡。 饿了么的故事始于2009年上海交大的宿舍。彼时，创始人张旭豪与合伙人因订餐不便萌生创业想 ...

Core Insights - The article discusses the strategic developments in the instant retail sector, particularly focusing on the launch of Taobao's new convenience store brand and the competitive dynamics with Meituan's flash purchase service [1][2]. Group 1: Market Dynamics - Taobao's flash purchase service has seen explosive growth, with peak daily orders reaching 120 million in August and a 200% increase in monthly active buyers compared to April [2]. - The convenience store model aims to address the growing consumer demand for 24-hour service, with one-third of convenience stores on the platform providing such services, reflecting a 50% year-on-year growth [2]. - The competition between Taobao and Meituan has intensified, with both platforms expanding their supply chain infrastructure to enhance service capabilities [1][6]. Group 2: Business Model and Strategy - Taobao's convenience store operates on a brand authorization model, allowing high-quality merchants to use the brand without the platform opening stores or warehouses [2][3]. - The company plans to invest 2 billion yuan in the next year to support the construction of quality warehouses, upgrade product quality, and enhance logistics capabilities [3]. - The focus is on breaking the traditional retail model by integrating supply, warehousing, logistics, and payment into a single "station" [1][6]. Group 3: Challenges and Opportunities - The industry faces challenges such as product homogeneity and low brand recognition, which hinder service quality improvement [2][7]. - The need for digital upgrades and enhanced operational efficiency is critical for merchants to compete effectively in the evolving market [7]. - The article highlights the importance of local data insights for brands to connect with younger consumers and meet their evolving shopping preferences [7].

即时零售战火燃至关键的供应链环节。 "闪购仓迎来了战略级的机会窗口，我们要及时解决生态里的痛点。眼下，重构已经开始，除了资金、 物流之外，还有两个重要的维度是时间和空间。"日前，淘宝闪购即时零售总经理根仙在发布会上透 露，一个闪购仓的面积大概在400平方米，但是未来有机会做到大几百万元甚至上千万元成交额。 当天，淘宝闪购正式发布全新连锁便利品牌"淘宝便利店"，主打闪购仓形态，将逐步覆盖全国200多个 城市，以品牌授权形式给到符合标准的优质商家使用，门店资产属于商家，商家按照平台标准提供服 务。 根仙强调，将坚定与生态共赢共进，不建仓、不开店、不与商家争利。在此之前的10月29日，美团闪购 宣布将联合上万个品牌建设"品牌官旗闪电仓"。品牌可通过入驻"官旗闪电仓"在美团闪购开设官方旗舰 店，美团闪购将为品牌搭建仓储、配送、数字化系统等即时零售"基建"。 零售的边界已经被无限拓宽，淘宝便利店也展现出远超传统仓店模式的爬坡速度与发展潜力。未来一 年，淘宝闪购将投入20亿资金，用于助力商家品质仓店建设、商品品质升级、物流能力建设及数字化能 力迭代。 具体而言，首批将开放34个名额，预计覆盖200个城市，主力仓型为SKU ...

Core Insights - On November 4, 2025, Alibaba-W (09988), SMIC (00981), and Xiaomi Group-W (01810) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 4.466 billion, 2.678 billion, and 2.220 billion respectively [1] - In the Southbound Stock Connect for the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), Tencent Holdings (00700), and SMIC (00981) also ranked as the top three, with trading amounts of 2.960 billion, 1.746 billion, and 1.576 billion respectively [1] Southbound Stock Connect (Shanghai-Hong Kong) - Top active companies by trading amount: - Alibaba-W (09988): 4.466 billion, net buy of -0.586 billion - SMIC (00981): 2.678 billion, net buy of -72.6415 million - Xiaomi Group-W (01810): 2.220 billion, net buy of 0.908 billion - Tencent Holdings (00700): 1.756 billion, net buy of -0.551 billion - CNOOC (00883): 1.577 billion, net buy of 0.710 billion - Hua Hong Semiconductor (01347): 1.397 billion, net buy of 0.163 billion - Meituan-W (03690): 1.300 billion, net buy of -0.113 billion - China Mobile (00941): 1.034 billion, net buy of 0.633 billion - Pop Mart (09992): 1.028 billion, net buy of 0.119 billion - Jingtao Holdings (02228): 0.985 billion, net buy of -29.1001 million [2] Southbound Stock Connect (Shenzhen-Hong Kong) - Top active companies by trading amount: - Alibaba-W (09988): 2.960 billion, net buy of -0.282 billion - Tencent Holdings (00700): 1.746 billion, net buy of 0.379 billion - SMIC (00981): 1.576 billion, net buy of -0.161 billion - Xiaomi Group-W (01810): 1.389 billion, net buy of 9.35231 million - CNOOC (00883): 0.910 billion, net buy of 0.336 billion - Hua Hong Semiconductor (01347): 0.883 billion, net buy of 0.166 billion - Meituan-W (03690): 0.730 billion, net buy of 0.204 billion - Sunny Optical Technology (02382): 0.573 billion, net buy of -0.325 billion - China Mobile (00941): 0.563 billion, net buy of 0.120 billion - Pop Mart (09992): 0.534 billion, net buy of 0.0078456 billion [2]

Core Insights - The Hong Kong stock market saw a net inflow of 98.32 billion HKD from northbound trading on November 4, with 52.02 billion HKD from the Shanghai Stock Connect and 46.31 billion HKD from the Shenzhen Stock Connect [1] Group 1: Stock Performance - The most bought stocks included CNOOC (00883), Xiaomi Group-W (01810), and China Mobile (00941) [1] - The most sold stocks were Alibaba-W (09988), SMIC (00981), and Tencent (00700) [1] Group 2: Detailed Stock Transactions - Alibaba-W had a buy amount of 19.40 billion HKD and a sell amount of 25.26 billion HKD, resulting in a net outflow of 5.86 billion HKD [2] - Xiaomi Group-W saw a net inflow of 9.08 billion HKD, with a buy amount of 15.64 billion HKD and a sell amount of 6.56 billion HKD [2] - CNOOC had a net inflow of 10.46 billion HKD, supported by OPEC+'s decision to pause production increases [5] - China Mobile received a net inflow of 7.52 billion HKD, with a strategic share transfer to China National Petroleum Corporation [5] Group 3: Sector Insights - The semiconductor sector showed mixed results, with Hua Hong Semiconductor (01347) receiving a net inflow of 3.29 billion HKD, while other stocks faced net outflows [6] - Bubble Mart (09992) gained a net inflow of 1.27 billion HKD, driven by seasonal sales trends and new product launches [7]

早上八点，骑手邱凤英戴上头盔，骑上电瓶车穿梭在长沙的大街小巷中。她跑外卖八年，已经在长沙定居并主动给自己买了养老保险。 今年7月，美团养老保险补贴政策在长沙落地，此后邱凤英的账户里每月都能多出500多元的养老保险补贴。 "只要你买了养老保险，平台就自动把钱打到账户里。一个月500元，一年下来就是6000元，这是一笔不小的钱，缓解了不少生活压力。"邱凤英坦诚 道。 千里之外的宁波，骑手唐卫红每天上午10点上线跑单，下午4点准时收工，去接两个孩子放学。这份月入过万的工作，最吸引她的是能顾家。她在老家绍 兴自费缴纳社保，每个月1500元，美团养老保险补贴政策落地后，她每月能收到500元补贴。 "对我这种坚持交社保的人来说，等于每个月加薪500块。"唐卫红非常满意美团的养老保险补贴政策，收到补贴后还连忙跟身边同事安利。 几天前，美团宣布骑手养老保险补贴率先覆盖全国，向全部骑手开放，11月起，任何类型的骑手，在全国范围内，都能在缴纳养老保险后向美团领取现 金补贴。数百万骑手被纳入了保障体系。 邱凤英、唐卫红等个体喜悦的背后，折射的是一个宏大的时代命题。 美团数据显示，截至2024年9月，共有745万骑手在平台接过单，其 ...

11月4日，在美团北京总部，科赴中国与美团医药健康宣布升级战略合作，双方将在多年合作的基础上，持续发挥科赴的创新优势与品牌影响力，借助 美团医药健康的数字化和零售服务能力，深入发掘大健康即时零售市场的巨大潜力，为中国消费者打造更加多元化、更加便捷的健康解决方案。 科赴中国总裁沈馥安（Gift Arpaporn Samabhandhu）、科赴中国线下销售负责人尹勐、美团医药健康事业部总经理李晓辉、美团医药健康事业部即时零 售负责人吴佳妮、以及双方公司领导出席战略合作升级仪式。 科赴与美团医药健康战略合作签署仪式 满足多元化消费需求，赋能行业持续增长 科赴中国总裁沈馥安指出，随着中国经济的稳步发展和居民健康素养的持续提升，中国消费者对优质健康产品的需求也在不断升高，促使大健康产业上 下游加快商业创新的步伐、迭代产品与服务。 根据科赴发布的全球消费者趋势研究报告，中国消费者高度认同自我健康管理的积极作用。消费者对自我健康管理的重视，是科赴与美团医药健康升级 战略合作的核心动力。 "作为一家专注于消费者健康的全球企业，科赴始终站在响应消费者需求的前沿。我们致力于通过基于科学的产品，在生活中的每时每刻，守护他们的 每日 ...

11月4日，科赴中国与美团医药健康在北京签署战略合作协议。双方将在多年合作基础上，全面升级数 字化服务、健康服务、新品驱动及口腔健康等领域的协作，深入发掘本地健康消费市场潜力，为中国消 费者打造便捷、多元的健康解决方案。据悉，自2019年合作以来，科赴旗下品牌在美团医药健康平台实 现了16倍显著增长。此次战略合作升级，标志着双方迈入全面生态共建新阶段。 ...