2025 年第四季度中国家庭财富与消费报告由厦门大学经济学科与蚂蚁集团研究院联合发布，基于全国调研数据，从收入、资产、负债、消费及预期多维度 分析，展现出家庭财富结构总体稳健，但消费回落、信心趋谨的特征。 收入层面，样本家庭人均年收入 5.03 万元，工资性收入仍是核心来源（占 61.6%），收入来源呈多元化趋势，经营性、财产性等收入占比小幅提升。区域 与年龄分化显著，一线城市各年龄段收入均高于非一线，其中一线中年群体收入回落，青年、老年群体平稳。职业构成随收入呈现规律演变，高收入家庭中 未工作、自由职业者比例回升，体现其职业与收入来源的独特性。 资产与负债方面，房产持有结构稳定，无房家庭占 28.9%，一套房家庭占 47.5% 为主体，有房家庭中 59.3% 无房贷，住房杠杆管理更审慎。金融资产配置 上，现金与存款占比下降，一线城市在股票、理财等配置上更积极，持有率达 49.2%。家庭负债率呈优化趋势，无负债家庭占 50.5%，但负债率超 100% 的 家庭仍占 10.4%，负债行为分化明显。 消费领域，全样本家庭人均月消费 2421 元，较三季度回落，城市层级差异显著，一线城市（3424 元）远高于重点城 ...

2025年，蚂蚁推出AI健康应用"蚂蚁阿福"，让专业的健康服务跨越地理限制，真正走进千家万户。目 前"蚂蚁阿福"月活用户已超3000万，其中55%用户来自三线及以下城市。 在生活服务方面，目前"碰一下"已覆盖2200多种生活场景，尤其便利视障朋友和老年人等群体使用。今 年支付宝还推出"AI付""看一下支付"等创新支付技术，继续推动支付体验创新。 与此同时，数字服务也在跨越国界。通过支付宝和Alipay+的跨境服务，全球100多个国家的1.5亿大小 商户能便捷服务中国游客。来华外国朋友则可通过"外卡内绑"和31个境外电子钱包"外包内用"在中国享 受消费和生活便利。 消费者权益保护工作不仅是企业的责任，也是一项需要政府、行业、社区和公众共同参与的社会工程。 2025年，蚂蚁集团持续推进"星海计划"，联合政府、学校、社区在全国23省292市县开展超4万场金融教 育活动，普惠金融教育覆盖达2.4亿人次。此外，2025年，支付宝就业平台、"蚂上就业"平台累计帮助 超过800万人就业，其中"蚂上就业"平台已为全国2600多个县区的返乡青年、全职宝妈及残障人士提供 了9.9万个数字化岗位，近千名残障人士通过该平台找到了适合 ...

而在近日举办的"朋友们碰一下支付宝线下支付合作伙伴大会"上，拉近众博被授予"2025支付宝商圈数 字化先锋"和"支付宝优秀合作伙伴年度最佳好碰友"两个殊荣。除了特显拉近众博与支付宝的深度合作 关系外，亦是对"琥珀PASS卡"从场景到消费的解决方案成效的肯定。 琥珀PASS卡通过其技术核心"碰付通"实现了支付营销一体化，支持支付宝全系智能POS机，为用户提供 从"碰一下打卡领红包"到"支付后自动成为会员"的无感流畅体验，为商户提供了"支付即结算"的跨域分 账能力。北京工体燃冬市集、北京动画周、西城商圈等多个场景中已经成功验证，通过统一收银、周边 引流打卡、消费后发复购红包等组合策略，有效提升了商户收益和用户复购率。琥珀PASS卡通过"碰一 下"的NFC等技术，将线下分散的流量有效聚合与转化，成为本集团新媒体业务增长的核心动力。 除此外，拉近众博亦与蚂蚁云通签订了一份为期三年的《文旅智能体市场拓展框架合作协议》。据此， 拉近众博打造了以"琥珀PASS卡"为核心的智能文旅SaaS平台，融合区块链、加密技术与互联网视听能 力，已成功推出"琥珀智能PASS卡"及配套宣发、销售与定制化技术服务体系，并作为支付宝"碰一下" ...

Core Insights - Ant Group and Alibaba are competing in the AI to C market, with both companies launching AI applications targeting consumer needs within a short timeframe [1][11][21] - Alibaba's "Qianwen App" and Ant Group's "Lingguang" are positioned as AI life and productivity entry points, respectively, indicating a strategic focus on consumer engagement through AI [1][11][21] - The competition between these two entities raises questions about the necessity of multiple overlapping products in a market where user attention is limited [20][21] Group 1: AI Product Launches - Alibaba officially announced the public testing of its personal AI assistant "Qianwen App," aiming to serve as a universal life entry point for consumers [1] - Ant Group launched its multimodal AI assistant "Lingguang," which emphasizes the ability to generate small applications in 30 seconds using natural language [1] - Ant Group upgraded its AI health product AQ to "Ant Afu," further expanding its consumer-facing services [1] Group 2: Functionality and User Engagement - Both Qianwen and Lingguang offer similar functionalities, including AI-generated content and daily task management, indicating a high degree of overlap [15][20] - Alipay is evolving into a comprehensive consumption platform, capable of performing tasks traditionally associated with Taobao and Tmall, thus broadening its user engagement [2][10] - Alipay's "Daily Flash Sale" feature has seen significant success, with record sales during major shopping events, showcasing its potential as a consumer project [2] Group 3: Membership and User Benefits - Alipay and Taobao membership systems are similar, but Alipay offers a broader range of benefits beyond shopping, including financial services and healthcare [4][9] - Alipay's diamond membership provides 41 benefits compared to Taobao's 18+, highlighting its competitive edge in user engagement [4][9] Group 4: Strategic Implications - The competition between Ant Group and Alibaba raises concerns about internal resource allocation and user attention, as both companies vie for the same consumer base [20][21] - Despite their historical ties, the regulatory environment has led to a separation in governance, yet both companies continue to share significant user bases and technological resources [18][19] - The strategic decision to launch multiple AI products simultaneously may reflect a defensive posture in a rapidly evolving market, but could also lead to inefficiencies [21]

1月29日，蚂蚁集团CEO韩歆毅发布内部全员信，信中回顾了过去一年蚂蚁集团取得的成绩，韩歆毅表示，上个月"阿福"月活跃用户数已突破 3000万，跻身中国AI应用前四名。 他还表示，自推出"碰一下"支付以来，截至2025年12月26日，"碰一下"日支付笔数已突破一个亿，并融入2260个生活场景，手机、眼镜、手表 都能碰。未来我们会继续努力，让支付在AI时代更智能、更便捷。 韩歆毅表示，21岁的蚂蚁站上新起点，香港总部已亮灯、杭州新园区2027年落成，公司持续加大技术研发，打造有温度的企业文化，感恩家属 支持并携手温暖前行。 以下是全员信原文： 亲爱的蚂蚁家人：值此马年新春即将到来之际，给大家拜个早年。 过去一年，蚂蚁在清晰的战略道路上稳步向前：AI技术深入业务核心场景，全球化布局扎实迈进，而我们对"信任"的守护始终如一。这一年取 得的成绩，除了蚂蚁所有同学的共同努力，更离不开家人们的理解和支持。 今天，我想给各位家人分享三个蚂蚁的小故事： 第一个故事，父亲的小话筒。毛强是一位家住河南的小伙子，父亲偏瘫失语后，他每天只能靠"猜手势"与父亲交流。一个月前，毛强开始用我 们的AI产品"灵光"协助对父亲的照护。吃饭、睡 ...

Core Viewpoint - Ant Group emphasizes the importance of safety and reliability in the provision of healthcare services through its app, Ant Fu, while maintaining intelligent model performance and addressing risks related to user privacy and information security [1][3]. Group 1 - Ant Group's CEO, Han Xinyi, stated that significant efforts have been made to overcome model hallucinations and control risks without compromising the intelligence level of the model [1][3]. - The company established an ethics advisory committee last year before the launch of the Ant Fu app, collaborating with professional institutions and experts to explore the construction of relevant standards [1][3]. - Safety, privacy, and prudence are considered non-negotiable bottom lines for Ant Group in its healthcare initiatives [1][3].

Core Insights - Ant Group's CEO, Han Xinyi, emphasized that inclusivity has always been a core value for the company, evolving from mobile payments to inclusive finance and now extending into the healthcare sector [1][2] User Engagement - Ant Group's health service platform, Ant Fu, experiences over 10 million health consultations daily and has more than 30 million monthly users [3][5] - Among Ant Fu's users, 55% are from lower-tier cities (third to fifth tier), and one-third of the users are elderly [3][5] Future Business Strategy - The company prioritizes user feedback and industry response over mere numerical growth and scale [3][5] - Ant Group has committed to providing its basic health Q&A service for free since its inception, with future business designs focusing on affordability to ensure accessibility for all [3][5]

Core Insights - Inner Mongolia Xibei Catering Group Co., Ltd. has increased its registered capital from 89.902896 million to 101.680175 million yuan, representing an increase of approximately 13.1% [2] - New investors include Taizhou Xinrongtai Investment Co., Ltd., Hohhot Collective Co-Creation Enterprise Management Center (Limited Partnership), Chengdu Xunda Optoelectronics Co., Ltd., and Hangzhou Zhouxuan Equity Investment Management Partnership (Limited Partnership) [2][3] Company Information - Xibei was established in October 2017, with the actual controller being founder Jia Guolong, who holds a direct shareholding ratio of 26.1644% after the recent changes [4] - The company has previously received investments from institutions such as Jingheng Investment and Xinchao Media [4] Future Plans - Xibei has announced plans for an IPO, aiming to achieve a market value of 100 billion yuan by 2026 through continuous development in 2023, 2024, and 2025 [4]

Core Insights - The Inner Mongolia Xibei Catering Group Co., Ltd., which operates the Xibei restaurant chain, has added five new shareholders and increased its registered capital from 89.90 million yuan to 102 million yuan [1][2] Shareholder Changes - New shareholders include Hangzhou Zhouxuan Equity Investment Management Partnership, Hohhot Collective Co-creation Enterprise Management Center, Taizhou Xinrongtai Investment Co., Ltd., Chengdu Xunda Optoelectronics Co., Ltd., and Zhou Haoyu [1][2] - Taizhou Xinrongtai Investment Co., Ltd. is fully owned by Zhang Yong, the founder of the high-end restaurant brand Xinrongji, which has received Michelin stars for its restaurants [2] - Hangzhou Zhouxuan Equity Investment Management Partnership is primarily owned by Hu Xiaoming, former CEO of Ant Group, who is also involved with the agricultural brand "Yimi Ba" [2] - Chengdu Xunda Optoelectronics Co., Ltd. is fully controlled by the listed company Jinghua Optoelectronics, which specializes in optical components and micro-projection technology [2] - Hohhot Collective Co-creation Enterprise Management Center is co-owned by Xibei's founder, Jia Guolong, and several individuals [2] Business Performance and Challenges - Xibei's founder, Jia Guolong, announced plans to close 102 stores in the first quarter of this year due to a significant decline in business, with sales dropping by 40%-60% from September 2025 to early January 2026 [5] - As of January 15, Xibei had 349 stores nationwide, with the highest concentration in Beijing and Shanghai [5] - Following the store closures, the total number of Xibei stores will reduce to 247 [5] - The company faced public scrutiny regarding its use of pre-prepared ingredients, which led to a series of adjustments, including price reductions and changes in food preparation practices [6]

Group 1 - The registered capital of Xibei Catering has increased from 89.902896 million to 101.680175 million, representing an increase of approximately 13.1% [1] - The shareholder list has been updated with new investors, resulting in a decrease in the shareholding ratio of founder Jia Guolong and some existing shareholders to about 26.16% [1] - Taizhou Xinrongtai Investment Co., Ltd. was established in 2009 and is led by Zhang Yong, the founder of the high-end Chinese restaurant brand Xinrongji [1] Group 2 - The participating investor, Hangzhou Zhouxuan Equity Investment Management Partnership, is controlled by Hu Xiaoming, who previously held positions as CEO of Ant Group and President of Alibaba Cloud [2] - Hu Xiaoming also serves as the chairman of Yimi Ba Ocean Technology (Zhejiang) Co., Ltd., in which Jack Ma holds approximately 10% equity indirectly through Hangzhou Dajingtou 22 Cultural and Art Co., Ltd. [2]