36氪出海 . 36氪出海（letschuhai.com）是关注出海的行业媒体，为企业跨境提供海外咨询及专业服务，同时运营着超万人的出海生态社群。 以下文章来源于36氪出海 ，作者36氪出海 来源｜ 36氪出海（ID：wow36krchuhai） 封面来源 ｜ Unsplash TikTok Shop加速拓展欧洲市场，计划进军荷兰、比利时、瑞典、波兰四国 3月17日消息，TikTok Shop正在加速拓展其在欧洲的市场布局，计划进入荷兰、比利时、瑞典和波兰四个新市场。若该计划顺利 推进，TikTok Shop将在欧洲十个国家开展业务。数据显示，TikTok Shop的全球交易总额（GMV）预计到2025年将增长93.9%， 并在2026年继续增长52.6%。然而，欧洲市场对TikTok Shop来说仍然充满挑战，目前欧洲市场的销售额仅占其全球总收入的 5.4%。欧洲消费者相对保守的消费习惯以及Temu等强劲的竞争对手，仍然是TikTok Shop扩展业务的一大制约因素。（亿邦动 力） 速卖通与YouTube在韩国市场达成合作 3月17日消息，阿里旗下跨境电商平台速卖通（AliExpress）与YouTube达 ...

Core Insights - The report recommends a "Buy" rating for the internet media sector, highlighting strong growth potential in various sub-sectors such as e-commerce, social entertainment media, internet healthcare, short videos, and IP-driven markets [4][15][18] - The report emphasizes the resilience of the gaming sector, projecting continued industry prosperity into 2026, with specific recommendations for companies like Tencent and NetEase due to their favorable valuations [4][18] - The report identifies significant opportunities in AI and its applications across various sectors, suggesting that AI-driven innovations will lead to a new round of value reassessment in the market [4][21] E-commerce - Alibaba's MaaS business and the progress of its Qianwen model are expected to encourage a return to SOTP valuation perspectives in the market [4][15] - The report notes that Alibaba's recent performance was below expectations, but the long-term outlook remains optimistic due to its AI capabilities and integration with its commercial ecosystem [15] Social Entertainment Media - Tencent is expected to continue leveraging the commercialization potential of WeChat, while Bilibili's advertising growth is projected to outpace the overall internet advertising market, with a forecasted revenue growth rate of 27% in Q4 2025 [4][15][18] Internet Healthcare - JD Health and Alibaba Health are strengthening their partnerships with upstream pharmaceutical manufacturers, leading to robust revenue and profit growth [4][16] Short Videos - The report highlights the commercial potential of short video platforms, benefiting from technological advancements, with expectations of increased capital investment in 2026 [4][16] IP and Toy Market - Pop Mart is expected to enhance its collaboration with overseas designers and strengthen its local IP penetration into international markets, supported by store upgrades and a diverse SKU offering [4][16] Long Videos - The report indicates that the long video sector is stabilizing in terms of membership and advertising revenue, with a focus on exploring new business opportunities related to the main industry [4][17] Music Streaming - The music streaming sector is experiencing healthy membership growth, with strategies in place to optimize ARPU, although there are concerns about competition from new players leading to valuation adjustments [4][17] Gaming Sector - The report maintains a positive outlook on the gaming sector, with expectations of continued industry prosperity into 2026, recommending companies with strong product pipelines and growth potential [4][18] - The report suggests that new game launches will catalyze growth, with several major titles scheduled for release [13][18] Advertising - The report notes a significant increase in internet advertising investment, particularly in consumer categories, driven by major events like the Winter Olympics and the World Cup [4][18] AI Developments - The report highlights advancements in AI technologies, with expectations of a new wave of model iterations and commercial applications emerging in 2026 [4][21]

永豐金證券亞洲研究部晨訊 2026/3/20 | 麥嘉嘉 | 研究部主管 | avis.mak@sinopac.com | | --- | --- | --- | | 張雪婷 | 研究部經理 | samantha.cheung@sinopac.com | | 林仲全 | 研究部資深專員 | kobe.lin@sinopac.com | 1 2 • 美股周四受壓｜道指報46021點，跌203點或0.44%；標指下跌0.27% • 美債息揚｜美國10年期債息曾揚7.1個基點，至4.329厘 • 在戰事陰影下找「估值安全＋短期催化」 ｜中東戰事愈拖，投資人愈在意 「成本通脹＋供應鏈受阻」這一層，而不是單純炒價 • 私募信貸風險｜私募信貸風險將引發流動性關注 • 資產配置｜適度增持防守性及資源類資產，同時保留一定現金，以應對市場調整 • 結構配置｜投資高收益能源債券、抵押債券和信用衍生性商品，以對沖中東衝突 和油價上漲可能造成的市場動盪; 購買美國高收益債券指數的信用違約交換 (CDX) 保護，以對沖信用利差擴大的風險 永豐金證券亞洲研究部晨訊 永豐金證券亞洲研究部全球新聞概要 重點國際新聞 永豐金證券亞洲研究部晨訊 ...

以下文章来源于泽平宏观商学 ，作者泽平宏观商学 泽平宏观商学 . 前沿科技企业实战研学 读万卷书行万里路 2025 年 12 月 用心打造最有品质的实战研学。读万卷书，行万里路。把教室搬到世界上最优秀的企业， 请最优秀的企业家和科学家讲课。顺势而为，把握机遇。正心正念，坚持做长期正确的 事！ 我们期待与更多的企业家朋友们携手同行，共赴 2026 实战研学之旅！ 泽 ZEP 平 INGM 宏 ACR 观 O RE 商 SEAR 学 CH 1-6月日程安排 · 2月27日 北京 国内头部智驾科技企业 人形机器人 华为、莫界科技、AI算力 闭门投研会-2026 Al 的中国力量(二) 年研学安 型 成石 1月4日-11日 洛杉矶、拉斯维加斯、旧金山 CES、英伟达、特斯拉 谷歌、罗宾汉、playground 斯坦福大学、伯克利大学 3月27日-28日 苏州 追觅科技、魔法原子、灵猴机器人 闭门投研会-2026 Al 的中国力量(一) 3月29日 上海 长三角校友会 4月20日-21日 香港 2026 香港 Web3 嘉年华 HashKey、复星财富 5月22日-23日 北京 智谱、头部机器人企业 商业航天 6月26 ...

家住北京朝阳区的上班族林女士，平时经常点京东外卖，中午林女士点了一份粥，配送非常快，骑 手还主动拍了一张送达的照片。林女士才知道他们现在每一单都要拍照确认。 全职骑手 还告诉林 女士，现在京东外卖又要给他们发新衣服了，银条加金标的设计一眼就能认出来，在雨天夜晚送外 卖也更安全， 消费者 看着 胸前 金标的全职骑手专属工号，点外卖也 会 很放心。 京东外卖上线一周年之际，为所有全职骑手免费升级新骑手服，在装备、培训和服务上实现三大升 级，让配送更专业，让用户更放心。 这次新骑手服最明显的变化，是衣服上的银色反光条和金色标 识。金色标识代表全职骑手的身份 及其专属工号， 上衣的银色反光条在夜晚骑行时非常醒目，夜 骑送餐更安全。京东银条加金标，骑手里的 "专业标"，用户可一眼识别，更专业，更放心，认准这 个标！ 另外，这次的新骑手服专门根据京东外卖骑手骑行时的动作设计，穿起来更贴合、更方便骑车。同 时采用防水面料，遇到下雨天也能保持干爽； 除了装备升级，京东外卖也在持续提升配送服务。所 有全职骑手上岗前都要完成培训，从接单到送达都有标准流程，每一单送达后都需要拍照确认，让 配送更规范。同时，京东外卖还推出了 "准时 ...

Core Insights - The OpenClaw AI tool is experiencing a surge in demand in China, leading to increased prices for secondhand Mac computers [1][3] - OpenClaw is an AI agent capable of autonomously performing tasks like sending emails and online shopping, with its usage in China surpassing that in the U.S. [2] - The rise in demand for OpenClaw has prompted users to seek preowned computers, similar to trends observed during the pandemic [3][4] Market Dynamics - ATRenew, a used consumer electronics buyer and reseller, reports that the demand for Apple products is keeping prices stable, akin to peak fall season prices, rather than the typical spring price drop [4] - Prices for new MacBooks are approximately 15% higher than those for used models sold through ATRenew [4] Security Concerns - The free-to-download OpenClaw software poses security risks, leading many users to operate it on separate devices to protect sensitive information [3]

所有全职骑手上岗前必培训，形象整洁、专业规范、完好交付，30 类场景标准化、 每单妥投必拍 照。 2026.03. 19 来源 | 京东黑板报 据"京东黑板报" 3月19日消息 ，京东外卖一周年之际， 为全体全职骑手免费换新装 ，带来装备、培 训、服务"三大升级"。 升级一：装备升级 新骑手服采用立体裁剪，防水面料配高亮反光银条，为全职骑手提供独一无二的专属工号金标 牌，"银条 + 金标"，骑手里的专业标。首批新骑手服，覆盖北上广深全职骑手，即日起均可免费申 领。 升级二：培训升级 字节回应"武汉研发中心全部被裁" 升级三：服务升级 京东外卖全面推广"准时保"服务， 承诺订单准时率达 99% 以上， 若未按时送达，超时必赔付。 微信编辑 | 苏小 ·联系我们 线索爆料 ：bianjibu@yicai.com 商务合作 ：business@yicai.com 推荐阅读 ...

装修，大概是普通人生活中最接近"开盲盒"的消费。 用户花去数十万，赌的是设计师的审美、工人的手艺、材料的真假，以及不同品牌家电之间能否听懂彼此的语言。结果往往是，效果图上的"梦中情家"，落 地后变成了各种妥协和遗憾的集合体——智能家电成了信息孤岛，嵌入式家具尺寸对不上等问题仍是难解的沉疴旧疾。 中国建筑材料流通协会行业研究部指出，2025年，尽管受多重因素影响，全国建材家居行业整体仍实现韧性向前。其中，存量房的再装修需求，成为建材家 居市场韧性前行的重要保障。 只是，传统模式下，装修相关的商品选择多而乱、价格模糊、智能体验不及预期、交付难等痛点，仍在制约行业发展。面对消费升级和行业内卷的双重挑 战，家装正站在攻坚与新生的十字路口。 3月13日，京东正式对外发布"京东家装"AI智慧家装品牌。这家擅长做"重活儿"的公司，这一次决定把最核心的两张牌——超级供应链和AI全部押上，试图 回答一个终极问题：能不能让装修，从赌运气变成一套可以"闭眼选"的科学？ 装修能不能像买电脑一样简单？ 而京东的野心还不止于此。 如果说带电品类全量接入Joy AI大模型是给传统家电"装个脑"，解决智能互联的问题；那么京东的第二盘货则是自 ...

Market Overview - Major Asia-Pacific stock indices collectively declined, with the Shanghai Composite Index falling below the 4000-point mark for the first time since January 5, and the Nikkei 225 index dropping over 3% [1] - The Shanghai Composite Index closed down 1.39%, while the Shenzhen Component Index and the ChiNext Index fell over 2%, and the Growth Enterprise Market Index dropped over 1% [3] Sector Performance - The sectors that experienced the largest declines included non-ferrous metals, petrochemicals, fertilizers, lithium mining, and rare earths, with several stocks hitting the daily limit down [3] - Gold stocks saw significant drops, with Zhongjin Gold, Zijin Mining, and Shandong Gold all declining over 7% [3][4] Notable Stock Movements - Specific stocks that fell sharply include Zhongjin Gold (down 7.80% to 26.70), Zijin Mining (down 7.45% to 32.32), and Shandong Gold (down 7.04% to 40.65) [4] - Conversely, sectors such as CPO, coal, and oil & gas saw gains, with Mingpu Guangci and Lanyan Holdings hitting the daily limit up [5] Hong Kong Market - The Hang Seng Index and the Hang Seng Tech Index both fell over 2%, with tech stocks like Tencent Music and Kuaishou dropping significantly [5] Economic Indicators - The U.S. Federal Reserve decided to maintain the federal funds rate target range at 3.5% to 3.75%, aligning with market expectations, while indicating potential future rate cuts [6] - Concerns were raised regarding rising energy prices potentially increasing overall inflation, with uncertainty about the duration and impact of these effects [6] Commodity Prices - Silver prices plummeted, with Shanghai silver dropping over 10%, and gold prices falling below $4800 [7]

Core Viewpoint - The collaboration between Qianxun Intelligent and JD.com marks a significant advancement in the application of embodied intelligence in retail, transforming data collection and model training into a practical, integrated process that addresses the industry's data scarcity issue [1][5][25]. Group 1: Strategic Collaboration - Qianxun Intelligent and JD.com signed a strategic cooperation agreement from 2026 to 2029, focusing on customized consumer products, technology collaboration, and marketing co-construction to accelerate the application of embodied intelligence in retail [3]. - This partnership establishes a "technology + scene + data" model, where JD.com evolves from a retail channel to a data partner, and Qianxun Intelligent integrates deeply with JD.com to streamline the entire process from data collection to commercial implementation [5][6]. Group 2: Importance of Retail Scenarios - Retail environments are crucial for the evolution of embodied intelligence models due to their ability to generate high-value real-world interaction data, which is more valuable than traditional internet-based data [6]. - The collaboration allows for the collection of expert-level data through real-world operations, enhancing the model's training and adaptability [10][16]. Group 3: Data Collection and Model Training - Qianxun Intelligent has accumulated over 200,000 hours of real interaction data, with plans to exceed 1 million hours by 2026, significantly aided by the partnership with JD.com [13][15]. - The company emphasizes the importance of "dirty data," arguing that real-world imperfections provide better training scenarios for models, enhancing their generalization capabilities [15]. Group 4: Data Loop and Model Iteration - The data collection process is structured into three phases: initial remote operation for standardization, supervised robot task completion for complex scenarios, and full autonomous operation for a complete data loop [17][18]. - This iterative process ensures that data collection aligns with actual application needs, avoiding inefficiencies and enhancing the commercial viability of the technology [18][24]. Group 5: Cross-Industry Application - The data loop model developed by Qianxun Intelligent demonstrates strong adaptability across different sectors, including industrial and retail, proving its practical value and enabling broader applications [19][24]. - Future plans include extending robotic applications to JD.com’s pharmacy for automated sorting and precise medication dispensing, as well as other retail scenarios [24]. Group 6: Future Outlook - The year 2026 is anticipated to be pivotal for the commercialization of embodied intelligence, with the collaboration between Qianxun Intelligent and JD.com expected to drive significant advancements in the industry [25][26].