关注微信公众号：满满神券 美团、京东、饿了么、淘宝闪购外卖券每日更新 无门槛领取，省心薅羊毛，天天省不停！ 当消费者欣喜地使用美团红包下单点外卖时，可能很少有人深入思考过这样一个问题：这些看似由平台提供的优惠，最终到底是谁在买单？商家是否会因为 顾客使用了红包而减少利润？这不仅是普通消费者的疑问，更是困扰无数餐饮商家的现实难题。 商家在外卖平台上需要承担的成本远不止红包一项。根据业内人士透露，平台的技术服务费（即佣金）通常在6%-8%之间，配送服务费约占订单实付费用的 15%左右。然而，许多商家感觉总体成本远高于这一比例，原因在于他们将红包补贴、配送费减免等多项支出都计入总成本中。事实上，商家在平台上为消 费者提供的促销优惠往往是平台佣金的数倍。 面对这种局面，商家如何平衡红包策略与成本控制？精明的商家会通过精细计算来设置红包金额和使用门槛，确保在吸引顾客的同时保留一定的利润空间。 例如，毛利较高的餐饮类别（如奶茶、小吃）更能够通过"以量补利"的方式承担红包成本，而毛利较低的品类则可能对大幅让利持谨慎态度。此外，一些商 家会通过调整线上价格来应对红包带来的压力，但这又可能影响消费者体验和复购率。 值得关注的是 ...

| 股票名称 | 沽空金额↓ | 沽空比率 | 偏离值 | | --- | --- | --- | --- | | 阿里巴巴-W(09988) | 40.31 亿元 | 9.88% | -4.41% | | 腾讯控股(00700) | 25.53 亿元 | 14.07% | 3.39% | | 阿里健康(00241) | 17.76 亿元 | 23.84% | 1.53% | | 美团-W(03690) | 13.57 亿元 | 16.66% | -0.03% | | 小米集团-W(01810) | 10.94 亿元 | 16.34% | -4.90% | | 快手-W(01024) | 9.57 亿元 | 16.38% | 1.36% | | 中国人寿(02628) | 8.95 亿元 | 24.11% | 3.90% | | 泡泡玛特(09992) | 8.79 亿元 | 36.21% | 13.10% | | 中国平安(02318) | 7.50 亿元 | 19.75% | -8.73% | | 携程集团-S(09961) | 7.09 亿元 | 22.75% | 6.46% | 前十大沽空偏离值排行 ...

中国移动（00941）、美团-W（03690）、盈富基金（02800）南向资金净流出金额位列市场前三，分别 净流出-10.27 亿、-4.88 亿、-4.25 亿 在净流入比方面，秦港股份（03369）、中国水务（00855）、统一企业中国（00220）以76.18%、 58.76%、51.73%位列市场前三。 智通财经APP获悉，1月12日,快手-W（01024）、腾讯控股（00700）、南方恒生科技（03033）南向资 金净流入金额位列市场前三，分别净流入22.50 亿、20.05 亿、8.57 亿 在净流出比方面，碧桂园服务（06098）、至源控股（00990）、香港中旅（00308） 以-61.71%、-60.45%、-55.01%位列市场前三。 前10大资金净流入榜 | 股票名称 | 净流入(元)↓ | 净流入比 | 收盘价 | | --- | --- | --- | --- | | 快手-W(01024) | 22.50 亿 | 33.62% | 80.250（+7.43%） | | 腾讯控股(00700) | 20.05 亿 | 11.73% | 623.000（+1.96%） | | 南方恒生 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,783.18, down by 216.63 points or 0.80% as of January 14, 16:00 Eastern Time [1] - The index reached a high of 26,918.58 and a low of 26,724.89 during the trading session, with a trading volume of 82.41 million [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 127.501, up by 0.39% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 632.594, down by 0.06% compared to the Hong Kong close [2] Stock Price Movements - Tencent Holdings (00700) latest price is HKD 633.000, with an increase of HKD 5.500 or 0.88%, but its ADR price is HKD 632.594, showing a decrease of HKD 0.406 [3] - Alibaba Group (09988) latest price is HKD 169.000, up by HKD 9.100 or 5.69%, with an ADR price of HKD 165.595, down by HKD 3.405 [3] - HSBC Holdings (00005) latest price is HKD 127.000, up by HKD 0.600 or 0.47%, with an ADR price of HKD 127.501, up by HKD 0.501 [3] - Other notable movements include Meituan (03690) down by 3.24% and Ctrip Group (09961) down by 6.49% [3]

在港股IPO招股书失效后，上海商米科技集团股份有限公司(简称"商米科技")近日再次向港交所提交了 上市申请。 据港交所1月13日披露，商米科技向港交所主板提交上市申请，德意志银行、中信证券和农银国际为其 联席保荐人。 商米科技专注于提供智能商用设备及相应配套"端、云"一体化服务，形成由智能商用设备、商用操作系 统与IoT云管理平台所构成的产品及服务体系。 商米科技的商业物联网(BIoT)解决方案主要包括智能设备及BIoT PaaS平台。商米科技每台智能设备均 由商米科技的专业商用操作系统(即SUNMIOS)提供支持，使商户能够高效管理及优化其交易与运营。 根据灼识咨询的资料，按2024年的收入计，商米科技目前是全球最大的安卓端BIoT解决方案提供商， 占有10%以上的市场份额。 2015年，凭借团队开发的安卓POS机与"我有外卖"项目的软硬件结合优势，公司获得了美团旗下汉涛咨 询的1.05亿元投资，金星创投和深创投集团也继续跟投，各自出资1500万元，参与B轮融资。 2017年，光易投资出手2000万元参与商米科技的C轮融资。 2019年，商米科技与支付宝联合研发，获得了蚂蚁集团全资子公司云鑫创投的连续两轮投 ...

Market Performance - On January 14, the Hang Seng Index rose by 0.56%, closing at 26,999.81 points, with a net inflow of HKD 28.65 billion through the southbound trading channel [1] - The total trading volume for the southbound trading on January 14 was HKD 1,606.16 billion, with a net buying amount of HKD 28.65 billion [1] Stock Activity - In the Shanghai-Hong Kong Stock Connect, Alibaba-W had the highest trading volume at HKD 165.92 billion, followed by Tencent Holdings and SMIC with trading amounts of HKD 40.03 billion and HKD 29.60 billion, respectively [1] - Tencent Holdings recorded a net buying amount of HKD 12.24 billion, while China Mobile had the highest net selling amount of HKD 9.13 billion, closing down by 0.19% [1] Shenzhen-Hong Kong Stock Connect - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W also led with a trading volume of HKD 87.98 billion, followed by Tencent Holdings and Alibaba Health with trading amounts of HKD 25.24 billion and HKD 22.69 billion, respectively [2] - Alibaba Health had the highest net buying amount of HKD 11.61 billion, with a closing increase of 18.96% [2] ETF Performance - The Food and Beverage ETF (Product Code: 515170) has seen a decrease of 0.71% over the past five days, with a price-to-earnings ratio of 20.06 times and a net redemption of HKD 40.35 million [4] - The Gaming ETF (Product Code: 159869) increased by 10.84% over the past five days, with a price-to-earnings ratio of 43.58 times and a net redemption of HKD 180 million [4] - The Sci-Tech 50 ETF (Product Code: 588000) rose by 3.88% over the past five days, with a price-to-earnings ratio of 176.27 times and a net subscription of HKD 620 million [4] - The Cloud Computing 50 ETF (Product Code: 516630) increased by 17.69% over the past five days, with a price-to-earnings ratio of 104.56 times and a net redemption of HKD 11.55 million [5]

Market Overview - The Hong Kong stock market continued its volatile structure, with the Hang Seng Index closing up 0.56%, the Hang Seng China Enterprises Index up 0.32%, and the Hang Seng Tech Index up 0.66% [2] - The trading volume reached 340.39 billion HKD, marking a new high in nearly two and a half months, although the index faced selling pressure around the 27,000-point level [5] Performance of Major Stocks - Major tech stocks showed mixed performance, with Alibaba rising over 5% for four consecutive days, while Meituan fell over 3% and JD.com dropped over 1% [3] - Alibaba's stock price reached 169.00 HKD, up 9.10 HKD, while Tencent Holdings increased by 5.50 HKD to 633.00 HKD [4] Sector Performance - AI healthcare, dining, and gaming stocks were active, while gold and non-ferrous metal sectors remained strong [5] - The wind power sector continued to weaken, along with financial, aviation, photovoltaic, and military sectors [5] - The AI trend is expanding into medical applications, with clear mainline hotspots in gold and non-ferrous sectors [5] Short Selling Activity - The total short selling amount was 36.44 billion HKD, accounting for 10.71% of the trading volume, with Alibaba, Tencent, and Alibaba Health being the top three in short selling amounts [5] Macro Factors - The General Administration of Customs released foreign trade export data, providing fundamental support for the market [6] - The A-share market experienced a decline in sentiment due to the news of an increase in financing margin ratios, impacting trading volumes [7] Investment Sentiment - Huatai Securities noted that the A-share market had significantly outperformed while the Hong Kong market lagged, leading to a rise in the AH premium index to 122.7, indicating a potential for the Hong Kong market to catch up post-Chinese New Year [9]

在港股IPO招股书失效后，上海商米科技集团股份有限公司(简称"商米科技")近日再次向港交所提交了上市申请。 据港交所1月13日披露，商米科技向港交所主板提交上市申请，德意志银行、中信证券和农银国际为其联席保荐人。 商米科技的商业物联网(BIoT)解决方案主要包括智能设备及BIoTPaaS平台。商米科技每台智能设备均由商米科技的专业商用操作系统(即SUNMIOS)提供 支持，使商户能够高效管理及优化其交易与运营。 根据灼识咨询的资料，按2024年的收入计，商米科技目前是全球最大的安卓端BIoT解决方案提供商，占有10%以上的市场份额。根据同一数据源，预期安 卓端BIoT解决方案市场将于未来五年出现爆发式增长。 公司的全球商业合作伙伴由截至2022年12月31日的约44000个增至截至2024年12月31日的约58000个，截至2025年9月30日，进一步增至约64000个。 根据招股书资料，公司的解决方案落地了超过200个国家和地区，覆盖包括全部G20国家在内的全球90%以上的市场。公司覆盖最广泛的行业垂直领域， 包括超过100种行业细分垂直领域，如餐厅、超市、运动健身、诊所及物流配送，代表性客户包括小米、阿里 ...

商米科技冲刺港股，专注于智能商用设备及"端、云"一体化服务 近日，上海商米科技集团股份有限公司（简称"商米科技"）更新招股书，正式启动港交所上市征程，作为专注于 智能商用设备及"端、云"一体化服务的领军企业，商米科技已完成IPO备案。 招股说明书显示，商米科技深耕商业智能领域，构建了以智能商用设备、商用操作系统（SUNMIOS）与IoT云管 理平台为核心的产品及服务体系，形成独特的BIoT解决方案。该方案涵盖智能设备与BIoTPaaS平台两大核心板 块：每台智能设备均搭载专属SUNMIOS，助力商户高效优化交易与运营流程。 BIoTPaaS平台则提供统一软件基础设施及即用型开发工具，赋能商户与开发者快速打造垂直场景应用。截至2024 年12月31日，商米应用市场的应用程序累计下载量已达约2亿次，生态活力持续释放。 在业务覆盖方面，商米科技的智能设备矩阵已渗透15大行业、超100个细分垂直领域，囊括餐厅、超市、运动健 身、诊所、物流配送等多元场景。其客户群体阵容强大，遍布外卖送餐、零售、餐饮、生活服务、支付、旅行交 通等多个领域，包括UberEats、美团、小米、7-Eleven、肯德基、阿里巴巴、微信支付、顺 ...

盘面上，权重科技股涨跌不一，阿里巴巴涨超5%，快手涨超4%，美团跌超3%，网易、京东跌超1%； AI应用相关概念股飙升，AI医疗方向涨幅明显，阿里健康飙涨近19%月内累计升超50%以上；黄金股等 有色金属股延续涨势，灵宝黄金、招金矿业、紫金矿业等多股刷新历史新高；半导体板块走高，华虹半 导体涨超4%；石油股活跃，中国石油化工股份、中海油田服务涨超3%；餐饮股、博彩股、电池、影视 股、内房股等纷纷上涨。 另一方面，旅游及观光板块跌幅居前，携程集团跌超6%；商业航天板块下挫，金风科技、钧达股份跌 超4%；风电股、军工股、券商股、光伏股、航空股、保险股、内银股多数呈现跌势。 具体来看： 权重科技股涨跌不一，阿里巴巴涨超5%，快手涨超4%、百度集团、腾讯控股跟涨；美团跌超3%，网 易、京东跌超1%，小米集团微跌。 | 代码 | 名称 | 最新价 | 涨跌额 | 涨跌幅√ | | --- | --- | --- | --- | --- | | 09988 | 阿里巴巴-W | 169.000 | +9.100 | 5.69% | | 01024 | 快手-W | 81.950 | +3.500 | 4.46% | | ...