文 | 唐辰同学 把美团打得最疼的还是淘宝闪购。 7日上午，淘宝闪购联合饿了么发布了一组数据：日订单数超8000万；非餐饮订单超1300万；淘宝闪购日活跃用户超过2亿。 "真是太快了！" 这组数据是什么概念？做两个对比，一是和"淘宝闪购x饿了么"自身比：淘宝闪购于5月2日正式上线，5月底日订单超4000万，6月底日订单超6000万。上 线两个月，淘宝闪购即突破日订单8000万。 "淘宝"公众号还更新了一张趋势图，可以从中看到其增势的迅猛。官方自我评价都带着震惊："真是太快了！" 图源："淘宝"公众号 值得玩味的是，7月5日被传是淘宝闪购的"冲单日"，加上此前淘宝闪购500亿消费者及商家补贴，美团终于坐不住了，将Q1财报后的低调动作摆在了明 处，也在当天发放海量优惠券，尤其是针对奶茶、咖啡等新茶饮的小额高频订单，冲高订单量。 比如7月5日当晚，我就抢到了美团的免单券，包括5张外卖配送免单券和5张到店自取免单券，均为果茶、咖啡等大众饮品，包括茶百道、蜜雪冰城、沪上 阿姨、益禾堂等品牌。而且，大部分免单券在当晚23：59到期。 美团这波冲单是有作用的，直接创下1.2亿单即时零售新纪录，美团App还史无前例的短暂宕机 ...

Core Insights - The Chinese food delivery market is characterized by low entry barriers and intense competition, making it difficult to establish a monopoly [2][11][12] - On July 5, Alibaba initiated a significant promotional campaign, leading to a surge in daily orders, surpassing 80 million for its platforms [2][7] - Meituan responded with its own promotions, achieving over 120 million daily orders, indicating a highly competitive landscape [3][5] Market Dynamics - The food delivery sector is a battleground for major internet companies, with Alibaba and Meituan leading the charge [4][9] - The market's competitive intensity is higher than in other internet sectors, with a low concentration of market share among top players [3][9] - New entrants like JD.com have quickly gained traction, demonstrating the market's accessibility and the potential for rapid growth [9][11] Consumer Behavior - Consumer preferences are shifting, with users often ordering from multiple platforms to take advantage of promotions [14][19] - The lack of customer loyalty to any single platform further emphasizes the competitive nature of the market [14][19] Industry Characteristics - The food delivery market is fragmented, with millions of small restaurants and a large number of delivery personnel, making it challenging for any single platform to dominate [13][14] - The industry is marked by a high level of competition and innovation, driven by the need to meet diverse consumer demands [12][14] Financial Implications - Alibaba has committed to a substantial subsidy program, indicating its aggressive strategy to capture market share [7][8] - The overall market has seen a significant increase in daily order volumes, benefiting both consumers and merchants [18][19]

2025.07. 08 本文字数：1309，阅读时长大约2分钟 作者 | 一财评论员 硝烟四起的外卖大战，在反内卷的大背景下格外引人关注。 7月5日夜间，淘宝闪购、美团掀起了外卖大战，大量外卖红包如雨后春笋般撒落，部分外卖甚至可 以"零元购"。 这场事关"即时零售+电商+丰盈流量入口"的决战，各参与主体都在大战中获得了福利的精进，消费者 获得了消费者剩余，平台企业提升了数字资产价值和供应链整合能力，商家有了更多外卖平台可供选 择，骑手则获得了更多业务和选择机会。 方兴未艾的外卖补贴大战，各大平台争夺的是即时配送、新零售业务等的流量入口，尽管补贴本质是 一场变相价格战，但这背后较量的是各大平台的供应链管理能力和数字资产的贴现能力等，可看作是 国内市场在消费交易环节的一场系统性的竞相升级。支撑各大平台发出竞争性补贴的是，平台复杂多 元的盈利渠道和能力，以及多元化的商业场景，即补贴在商业上可看作是平台运营模式的内部转移定 价。 当前国内正综合整治"内卷式"竞争，而外卖大战正用鲜活具象事件，为人们提供如何辨识正常商业竞 争与"内卷式"恶性竞争的区别，从而有助于避免误判误伤。 当然，要有效保护正常市场竞争，需要在包容竞 ...

Group 1 - Google AI's Isomorphic Labs is set to begin its first human trials for AI-designed cancer drugs, leveraging the advancements from the AlphaFold model [1] - Alibaba Cloud has officially open-sourced its web intelligence agent WebSailor, which has shown superior performance compared to other models in both open-source and closed-source categories [1] - Tencent's Hunyuan3D-PolyGen is the first art-grade 3D generation model aimed at improving modeling efficiency for artists by addressing challenges in 3D asset generation [2] Group 2 - Zhiyuan has launched the Lingxi X2-N humanoid robot, featuring a dual-mode design that allows it to switch between wheeled and bipedal movement, enhancing its ability to navigate complex terrains [3] - The "New Generation Black Panther 2.0" has set a new world record for robotic dogs, achieving a speed of 10.3 meters per second, surpassing the previous record held by Boston Dynamics [4] Group 3 - ByteDance has denied reports of selling TikTok's U.S. operations to a consortium led by Oracle, emphasizing that the information is false [5] - Apple has appealed against a €500 million fine imposed by the EU for violating the Digital Markets Act, arguing that the penalty exceeds legal boundaries [6] Group 4 - A report by AlixPartners predicts that only 15 out of 129 electric vehicle brands in China will achieve financial sustainability by 2030 due to intense competition leading to market consolidation [7] - Changxin Storage has initiated its listing guidance, with major financial institutions involved, focusing on the development and production of DRAM products [8] Group 5 - The U.S. has announced new tariffs on 14 countries, with rates ranging from 25% to 40%, set to take effect on August 1 [8]

Group 1 - The U.S. President Trump announced tariffs on imports from 14 countries, with rates ranging from 25% to 40% depending on the country, effective from August 1 [2] - The tariffs include 25% on Japan and South Korea, 30% on Bosnia and South Africa, and up to 40% on Laos and Myanmar [2] - Trump warned of reciprocal tariffs if Japan and South Korea respond with their own increases [2] Group 2 - China's National Development and Reform Commission allocated an additional 10 billion yuan for employment support projects, aiming to create jobs for 310,000 individuals [3] - The investment will fund 1,975 projects, with 45.9% of the budget allocated for labor remuneration [3] Group 3 - The State Council's Food Safety Committee proposed a reward mechanism to encourage food industry employees to report safety risks, aiming for implementation by the end of 2026 [4] - The mechanism will initially target key sectors and larger businesses before expanding to other food production and import/export entities [4] Group 4 - The Ministry of Ecology and Environment emphasized the need for high standards in marine ecological protection and comprehensive governance of key sea areas [7] - The ministry aims to enhance the efficiency of environmental resource allocation and strengthen carbon market construction [7] Group 5 - China's Ministry of Industry and Information Technology announced the formal release of the international standard for autonomous vehicle testing, ISO 34505:2025, which fills a gap in testing scenario generation [8] - The standard was developed with collaboration from Chinese and German experts and aims to establish evaluation methods for autonomous driving systems [8] Group 6 - The average price of pork in China's wholesale markets increased by 0.4% compared to the previous week, with the current price at 20.66 yuan per kilogram [11] - The overall agricultural product wholesale price index rose by 0.34 points, indicating a general increase in food prices [11] Group 7 - China's foreign exchange reserves reached $33,174 billion at the end of June, marking a $32.2 billion increase from May, representing a 0.98% rise [12] - The gold reserves also increased, reaching 7.39 million ounces, continuing an eight-month growth trend [12] Group 8 - The Shanghai government introduced measures to promote the high-quality development of the software and information services industry, including a pilot policy for foreign-funded game companies [14] - This initiative is expected to enhance the growth potential for foreign enterprises in the gaming sector [14] Group 9 - Chery Automobile established a domestic business division, which includes four sub-divisions, but clarified that this restructuring does not involve changes in brand positioning [25] - The adjustment aims to focus on strategic alignment and resource integration [25] Group 10 - The new quantitative trading regulations, effective from July 7, focus on enhancing supervision of high-frequency trading and outline specific management requirements [27] - The regulations aim to address abnormal trading behaviors and improve market stability [27]

Core Viewpoint - Alibaba Group has announced the merger of Ele.me and Fliggy into its China e-commerce business group, aiming to enhance resource integration and optimize internal operations [2] Group 1: Business Strategy and Integration - The merger reflects Alibaba's emphasis on internal resource integration and optimization, which will improve decision-making efficiency and execution capabilities [2] - Ele.me and Fliggy will maintain a corporate management model, allowing for flexibility and autonomy in business decisions to adapt to different business characteristics and development needs [2] - The integration aims to create a more complete consumer service system, particularly enhancing collaboration between Taobao Flash Purchase and Ele.me in the instant retail sector [2] Group 2: Market Potential and Growth - Since its launch in May, Taobao Flash Purchase has seen daily order volumes exceed 80 million, maintaining a high order fulfillment rate of 97% [2] - The collaboration between Ele.me's instant delivery capabilities and Taobao's e-commerce traffic and brand resources is expected to generate significant synergies, expanding user base and market share for both platforms [3] - Fliggy's integration into the e-commerce group will leverage Taobao's vast user base and operational experience to enhance the sales channels for travel products, enriching the service ecosystem [4]

7月7日早上，淘宝、饿了么联合宣布，日订单数超8000万，非餐饮订单超1300万，淘宝闪购日活跃用户超过2亿。 三个数字，处处透露出蒋凡的狠劲，这个同时掌控淘系、ONE ALIBABA的实际业务一号位正在做"沉默的狠人"。 闪购证明了ONE ALIBABA的正确，以及蒋凡的狠劲 1、淘宝闪购上线2个月，号称100亿补贴基础上再增加补贴500亿，要知道淘宝2024年全年也只有797亿的净利润，这意味着闪购要烧掉75%阿里巴巴的净利 润。这是蒋凡的魄力，也是阿里巴巴的魄力。 2、蒋凡敢于做最狠的决策。重掌淘天业务后，蒋凡一直是闷声干活的状态，但每次都是下重手，从不说狠话。从最早被迫于京东闪购上线淘宝闪购，到主 动加码补贴，再到持续追高订单，蒋凡做的是ONE AILIBABA的决心，也证明了ONE AILIBABA才能调动全组织的资源，做一场调动全公司的战役。 3、淘宝闪购最厉害之处营销、留存的一体化，这是一套系统工程。营销补贴是最容易的，只要补贴奶茶这个品类就能带来订单，但淘宝经历过10年的外卖 大战，蒋凡经历过"发配国际业务"的谷底，更加明白留存的重要性。所以，和竞对推6日仓促推0元奶茶不一样的是，淘宝闪购做的 ...

Group 1 - Alibaba Group Holding Ltd (NYSE:BABA) shares are currently trading at $106.55, down 2%, amid broader market tariff uncertainty, marking a potential third consecutive loss, although the stock has a 26.8% gain for 2025 and a support level at $100 [1] - The stock is trading near a trendline that has historically led to bullish returns, with shares being above the 200-day moving average for at least eight of the last ten trading days and spending 80% of the past two months above this trendline [2] - Historical data shows that after similar conditions in the last five years, the stock was higher one month later 67% of the time, with an average gain of 6.9% [2] Group 2 - Options trading appears to be an affordable strategy for investors, as indicated by BABA's Schaeffer's Volatility Index (SVI) of 32%, which is in the 8th percentile of its annual range, suggesting low volatility expectations [3] - Alibaba stock has typically outperformed these low volatility expectations over the past year, reflected in its Schaeffer's Volatility Scorecard (SVS) rating of 87 out of 100 [3]

家头部企业去年利润总额同比增19.7%。期待短期的利空能让股价再下来一些，多下来一些，再补点仓位。 分享一个阿拉伯寓言：有一天，一个商人的仆人慌张地跑回来，说刚才在集市里看见死神了，求主人借他一匹快马逃去125公里外的撒马拉城避难。商人借 了马，又走到集市里去向死神求情。死神回答：我没有带他走的意思，我刚才只是好奇：这个本该今晚死在撒马拉的人，怎么在这里呢？这个寓言对我触动 挺大，因为笔者在投资过程中，也经历过"死神的凝视"。而笔者认识的每一个大牛人（你没看错，我没说错，是每一个）都曾经历过净值砍半或以上的煎 熬。美国的巴顿将军说过，"衡量一个人成功的标志，不是看他到达顶峰的高度，而是看他跌入低谷时的反弹力。"面对死神的凝视，你是恐慌？连滚带爬地 骑上快马逃窜？还是有勇气上前搭他的肩膀，问一句"Yo Bro. What'sup?"当你挺过一次极限，眼前的世界连颜色都变了。至少，不那么害怕损失，不那么喜 悦浮盈，不那么恐惧错过。 全网同名：证悟君 上周的关键词是抽水。美国大而美法案通过，一句话总结：劫贫济富了。个人层面看，最大受益者是年收入20-50万美元的家庭。食品援助计划却从54岁提 高到64岁。"吃不饱？ ...

专家解读"外卖大战"20250707 摘要 淘宝闪购通过淘宝 APP 导流，DAU 增加约 1.1 亿，用户平均停留时长 增加 5 分钟，购买频次提高约 1.5 次，显著拉动主站电商 GMV，6 月为 电商带来 5,200 万订单和 86 亿元 GMV。 饿了么在上海市占率超 50%，杭州约 45%，江浙沪优势明显。一线城 市市占率约 40%，二线城市 35%-45%，三四五线城市较低，多在 20%-30%，低线城市市场拓展是重点。 平台计划未来 12 个月投入 500 亿元补贴，主要用于骑手端（约 50 亿）、商户和代理商端（约 50 亿）以及用户端（约 400 亿），用户端 补贴 7-8 月预计花费 160 亿元以稳定日均单量。 淘宝闪购增长最快的品类是奶茶咖啡及快餐，非餐饮类别中，商超、生 鲜水果、服饰百货增长较快，3C 家电、母婴美妆及酒水食品等类别也表 现出显著增长潜力。 2025 年 7 月初饿了么单均亏损 4.6 元，补贴力度加大后亏损增至 6 元。 计划通过调整补贴分摊比例，逐步减少平台承担比例，降低亏损，目标 年底单均亏损降至 2 元多，明年 6 月实现单月盈利。 Q&A 近日淘宝闪购和饿了 ...