职场穿搭想毫不费力地展现文艺洒脱范儿，张曼玉在《流金岁月》中的低饱和度造型再合适不过。简约 白衬衫搭配卡其色长裤，再用深棕色腰带做点缀，没有多余装饰却处处彰显质感。想要 get 同款文艺格 调，可选择初语潮流衬衫，其柔软垂坠面料演绎清爽利落。此外，ELLE 高腰阔腿西裤包容身材，及踝 长度悄悄拉长比例，通勤得体不沉闷。点睛选蔻驰经典针扣腰带，精选材质搭配温润五金光泽，无需繁 复装饰，便如曼玉荧幕造型般，用简约细节勾勒经得起细品的质感格调，轻松拿捏职场松弛感。 若想在聚会等非日常场合穿出吸睛惊艳感，不妨复刻张曼玉在《飞跃谜情》中的经典搭配，黑纱裙与珍 珠饰品组合，用优雅细节轻松撑起气场。裙装可选择UR 褶皱薄纱连衣裙， A 字版型演绎灵动飘逸，黑 色吊带勾勒精致线条。另外，周六福银蝴蝶双层珍珠项链叠戴颈间，莹润珍珠衬出温婉气质，同系列 18K 金珍珠耳环映着金属光泽，无需浓墨重彩，便如曼玉般用优雅细节撑起全场气场。 近日，张曼玉的经典穿搭再度出圈，引众多网友纷纷复刻。她标志性的"曼式风格"，融合都市摩登与随 性松弛，在当下时尚语境中愈发凸显出独特魅力。想解码这份永不过时的时髦？京东服饰早已备好灵 感，从复古衬衫 ...

Core Viewpoint - The impact of the new food delivery business on JD's performance is significant, leading to increased marketing expenses and a reduction in free cash flow, indicating a challenging competitive environment in the market [1][2]. Financial Performance - JD's marketing expenses in Q2 increased by 127.6% year-on-year, with a net increase of 15.1 billion yuan, raising the marketing expense ratio from 4.1% to 7.6% [1][2]. - The overall increase in "three expenses" (marketing, R&D, and administrative) was 95% year-on-year, resulting in an operating loss of 860 million yuan in Q2, compared to an operating profit of 10.5 billion yuan in the same period last year [2][5]. - Free cash flow in Q2 dropped by 56% year-on-year to 22 billion yuan, indicating a significant cash outflow due to increased spending on marketing and new business initiatives [6]. Market Strategy - JD's entry into the food delivery market aims to leverage high-frequency daily transactions to boost its core e-commerce business, with management expressing confidence in achieving expected synergies [3][5]. - The company plans to maintain a stable subsidy strategy in the food delivery market, avoiding excessive competition and focusing on long-term strategic goals [6][7]. Industry Context - The competitive landscape is intensifying, with Amazon expanding its same-day delivery service, putting pressure on JD and other retailers [1][7]. - The overall retail market growth is slowing, with the National Bureau of Statistics reporting a 6% year-on-year increase in wholesale and retail revenue in Q2, indicating a challenging environment for growth [8].

Core Viewpoint - JD.com reported a revenue of 356.7 billion RMB for the second quarter, representing a year-on-year growth of 22.4%, emphasizing its commitment to long-term strategic development in the competitive food delivery industry [1] Group 1: Financial Performance - The revenue for the second quarter reached 356.7 billion RMB, marking a 22.4% increase compared to the same period last year [1] Group 2: Strategic Focus - JD.com management highlighted the importance of food delivery and instant retail in the overall strategy, aiming to build a sustainable business model that can endure for five, ten, or even twenty years [1][3] - The company introduced the concept of "quality food delivery" as a differentiation strategy, focusing on enhancing platform systems and user experience rather than engaging in price wars [3] Group 3: User Engagement and Cross-Selling - There is an observed increase in cross-buying behavior among users of JD.com's food delivery service, indicating growing user stickiness and laying a solid foundation for long-term development [3] Group 4: Investment Strategy - While new business investments may impact short-term profit margins, management believes these will open up greater growth potential and create synergies with core businesses in the long run [3] - JD.com will maintain investment discipline and closely monitor return on investment (ROI) to ensure effective allocation of resources [3]

Core Viewpoint - JD Group and Dongfeng Motor Group have signed a strategic cooperation agreement to establish a comprehensive strategic partnership, enhancing collaboration in various sectors including supply chain and digital transformation [1][3]. Group 1: Strategic Cooperation - The strategic cooperation aims to deepen collaboration in areas such as all-channel marketing for passenger vehicles, green intelligent logistics for commercial vehicles, parts sales, and after-sales service ecosystems [3][5]. - Both companies will leverage their strengths in supply chain demand scenarios and digital operations to focus on cost reduction and efficiency improvement [3][5]. Group 2: Existing Collaboration - JD Group and Dongfeng Motor have a solid foundation of cooperation, including joint development of customized vehicles and implementation of new energy and intelligent solutions [3][4]. - JD Group has provided Dongfeng with one-stop, customized, and intelligent procurement solutions and supply chain services [3]. Group 3: Company Profiles - Dongfeng Motor is a large state-owned automotive enterprise with a diverse business portfolio, including commercial vehicles, passenger vehicles, new energy, and key components [4]. - JD Group is positioned as a technology and service enterprise based on supply chain, with a focus on digital technology and capabilities across various sectors including retail, logistics, and health [4][5].

Group 1 - JD.com has officially completed the acquisition of Hong Kong-based supermarket chain Jia Bao, establishing a new business unit focused on innovative retail [2] - The acquisition is seen as a strategic move to strengthen JD.com's supply chain capabilities and marks its entry into the Hong Kong physical retail market [2] - Jia Bao, founded in 1991, operates over 90 stores in Hong Kong and is known for its affordable pricing and wide range of products [2] Group 2 - JD.com previously announced a significant investment of RMB 1.5 billion to enhance its market presence in Hong Kong, focusing on price subsidies and service optimization [3] - The company has introduced various consumer-friendly services, including a price guarantee and free shipping for self-operated products [3] - JD.com is also lowering entry barriers for local merchants by offering zero commission and no annual fee policies [3]

Group 1 - JD Group reported Q2 2025 revenue of 356.7 billion yuan, a year-on-year increase of 22.4%, marking the highest growth rate in nearly three years [1] - Core retail business showed strong performance with a 20.6% year-on-year growth and an operating profit margin of 4.5%, the highest in promotional quarters [1] - New business revenue surged by 199%, primarily driven by JD's food delivery services [1] Group 2 - User traffic, active user count, and purchase frequency all saw significant growth, with active user count increasing by over 40% year-on-year for seven consecutive quarters [1] - During the "618" shopping festival, JD's overall order volume exceeded 2.2 billion, with daily active users reaching a historical high [1] - JD Supermarket launched new products and enhanced user experience through supply chain innovations, including the introduction of "JD label" products [2] Group 3 - JD's food delivery service achieved over 25 million daily orders, covering 350 cities with over 1.5 million quality restaurant partners [2] - The company has invested over 150 billion yuan in R&D since 2017, with supply chain infrastructure assets nearing 170 billion yuan [2] - JD plans to recruit 35,000 positions in 2026 and has invested 7 billion yuan in youth apartments in Beijing [3] Group 4 - JD has employed over 4,000 disabled individuals and supports their employment through training and operational guidance [3] - The company aims to introduce 1,000 overseas brands within three years, targeting a cumulative sales growth of 10 billion yuan [2]

Core Insights - The JD 818 Mobile Festival has successfully concluded, showcasing the "Golden Machine Awards" which recognized 14 flagship smartphones based on user evaluations and votes [1] - The awards highlight the increasing consumer demand for differentiated mobile imaging technology and gaming performance, reflecting a shift in consumer preferences [2][4] Group 1: Award Winners and Categories - Huawei Pura 80 won the "Harmony Aesthetic Imaging Master" award for its advanced imaging capabilities [2] - Vivo X200 Ultra received the "Annual Zeiss Imaging King" award due to its unique advantages in color and resolution [2] - OPPO Find X8 Ultra was awarded "Hasselblad Annual Imaging King" for its exceptional low-light photography [2] - OnePlus Ace5 was recognized as the "Peak Gaming Performance Flagship" for its superior gaming capabilities [2] - Samsung Z Fold7 and Lenovo Moto Razr 60 won awards for their innovative foldable designs, highlighting the maturity of the foldable smartphone market [3] Group 2: Consumer Trends and Product Features - There is a notable shift in consumer needs from merely recording to creative mobile imaging, prompting brands to innovate [2] - The demand for overall smartphone performance, design, and battery life is increasing, with models like Xiaomi REDMI K80 and iPhone 16 Pro being recognized for their robust performance [4] - The awards also included a special category for telecom operators, recognizing their contributions to the industry, with China Unicom, China Mobile, and China Telecom receiving accolades [5] Group 3: Marketing and Sales Strategies - JD has leveraged its supply chain advantages to collaborate with manufacturers, enhancing marketing and service differentiation [5] - The ongoing JD 818 Mobile Festival offers exclusive discounts and promotions, encouraging consumer participation and engagement [5]

Core Viewpoint - JD Group reported a net profit of 6.178 billion yuan for Q2 2025, a 50.8% decrease year-on-year, primarily due to losses from its new food delivery business [2][4]. Financial Performance - JD's Q2 2025 operating loss was 859 million yuan, compared to an operating profit of 10.501 billion yuan in Q2 2024 [4]. - Total revenue for Q2 2025 was 356.66 billion yuan, a 22.4% increase year-on-year, while operating costs rose by 22.2% to 300.02 billion yuan [4][6]. - Marketing expenses surged to 27.013 billion yuan, nearly a 129% increase year-on-year [4][6]. Business Segments - The food delivery segment generated 13.852 billion yuan in revenue but had an operating profit margin of -106.7% [7]. - The strategic investment in new businesses, including food delivery, has led to significant short-term losses, impacting overall profitability [4][7]. Market Reaction - JD's stock price fell over 4% during trading on August 15, dropping below 120 HKD, reflecting investor concerns over the impact of the food delivery business on profits [3][9]. - Analysts predict that losses in the food delivery segment may continue to expand in Q3 2025, further affecting JD's overall financial performance [9][12]. Cash Flow and Share Buyback - JD repurchased approximately 80.7 million Class A ordinary shares for about 1.5 billion USD in the first half of 2025, with a remaining buyback amount of 3.5 billion USD as of August 14 [8]. - Free cash flow decreased significantly from 49.555 billion yuan in Q2 2024 to 22.018 billion yuan in Q2 2025, indicating potential future funding needs [10][11]. Competitive Landscape - The CEO of JD noted intensified competition in the food delivery market since July, which has disrupted pricing structures and created unsustainable business practices [7]. - Other companies in the sector, such as Meituan and Alibaba, are expected to face similar challenges, although their prior investments may mitigate the impact compared to JD [12].

在京东自营竞争白热化的家居赛道，一家主打"新中式简约风"的国产品牌用八个月时间实现销售额翻倍，其逆袭路径揭示了社淘电商的深层赋能逻辑。品牌 初入京东时，曾因定位模糊陷入流量困境——产品兼具设计感与性价比，却在海量商品中难以触达目标客群。转折点出现在与社淘电商合作后，通过其提供 的全链路运营服务，品牌迅速在细分市场打开局面。 社淘电商的"数据驱动定位"策略成为破局关键。依托京东商智与社淘自研的"市场洞察系统"，团队发现"25-35岁都市新婚家庭"对"小户型多功能家具"需求激 增。据此，品牌将原2米长传统沙发改良为1.5米可折叠设计，并突出"实木框架+环保漆"卖点。这种精准调整使产品搜索量提升60%，首月点击率突破8万 次。 15# 专利活性 菌株 4 种 女性专利 菌株 SOLOOF 专利活菌 添加低聚果糖益生元和维 B 人体临床验证对肠道私处问题有效 供应链端的优化同样功不可没。社淘电商通过"京仓协同系统"实现库存动态管理，根据销售数据自动调整补货节奏，将库存周转率提升35%。某次大促前， 系统预警某款电视柜可能断货，品牌紧急加产并提前铺设京东物流，最终单品销售额突破150万，成为平台爆款。同时，社淘协调京东 ...

上海阶跃星辰智能科技有限公司成立于 2023 年 4 月 6 日，由微软前全球副总裁创办。 今日有网络消息称，"阶跃星辰裁撤视频生成团队，全员并入京东"。 对于上述传闻，京东对新浪科技表示作为京东集团专注前沿科技探索的研发部门，京东集团探索研究院 正在按照计划，正常推进对各类优秀 AI 人才的招聘，包括业内技术大牛、TGT（Tech Genius Team） 等，感谢您的关注。 ...