外卖市场单日订单规模达到 2 亿量级。 文 丨 邱豪 沈方伟 管艺雯 制图 丨 黄帧昕 编辑 丨 黄俊杰 管艺雯 7 月 5 日，周六，阿里内部代号 "淮海战役" 的百日闪购增长计划迎来第一个冲单日，内部预期 单量站上 7000 万单。淘宝天猫的市场团队拿出比肩双 11 的预算和阵仗，把各大应用开屏刷成 了橙色。 当天上午，美团在多个城市监测饿了么的配送情况，发现没有超出预期，一位区域经营人员因 此松了口气，觉得可能像之前防御京东一样轻松。但临近下午，他和全国其他美团一线经营人 员突然接到通知，当天要放开限制，全力补贴、极尽所能跟进淘宝闪购的补贴战，冲高单量。 于是在 7 月的第一个周末，两大外卖平台动员了数万员工、几十万个商户、几百万骑手，顶着多地近 40 度的酷暑高温，开始了一场即时零售的压力测试。 品牌商家对美团的全力冲刺毫无准备，大型连锁品牌大多当天下午才接到通知，有些商家甚至表示没 接到通知，就发现平台开始补贴自己。全国各地的奶茶店里，打单机不停地吐出订单，堆积数米长， 有的直接系统崩溃、店员只好手写订单，店内和门外挤满了排队取单的骑手，很多店铺不得不关闭外 卖业务。 美团临时阻击后，淘宝闪购员工并 ...

Core Viewpoint - A significant subsidy war has erupted among instant retail platforms, leading to a surge in order volume, with daily orders increasing from approximately 100 million in May to 200 million currently, driven by substantial financial incentives from platforms like Taobao Flash Sale and Meituan [1][6][7]. Group 1: Market Dynamics - The recent subsidy war involves a broader range of categories and merchants, including independent coffee shops, fast food, bakeries, and community fresh food stores, unlike previous subsidy battles that focused mainly on chain brands [4]. - Taobao Flash Sale announced a direct consumer and merchant subsidy of 50 billion yuan over 12 months, significantly boosting its daily order volume and user engagement [6][7]. - As of July 5, Meituan reported over 1.2 billion daily orders, with more than 1 billion being food delivery orders, indicating a strong competitive response to Taobao's initiatives [7]. Group 2: Competitive Landscape - JD's entry into the market with a 10 billion yuan subsidy has also intensified competition, with JD's daily order volume surpassing 25 million and capturing over 31% of the national food delivery market [6]. - The instant retail market in China is rapidly growing, with a projected scale of 6.5 trillion yuan in 2023, reflecting a year-on-year growth of 28.89%, and expected to exceed 20 trillion yuan by 2030 [7][8]. Group 3: Operational Challenges - Merchants have expressed challenges in handling the sudden influx of orders due to the unexpected nature of the subsidy campaigns, leading to operational strains [4][5]. - Delivery personnel have reported increased workloads and delays in order fulfillment, highlighting the logistical challenges posed by the surge in demand [5].

⑥【小摩谨慎看待稳定币前景：2028年市场规模仅为5000亿美元】摩根大通近日预测，到2028年，稳定 币市场的规模将仅增长至5000亿美元。该行表示，对稳定币市场规模将增长至1万亿美元的预测过于乐 观，原因是目前几乎没有迹象表明美元挂钩的加密货币代币已被主流采用。 ② 【特斯拉跌超7%，马斯克宣布组建"美国党"引担忧】近日，马斯克宣布要组建第三方政党"美国 党"，引起投资者不安。WedBush资深科技分析师Dan Ives表示，马斯克是特斯拉"最大的资产"，他决定 深入政治可能会给公司股价带来压力。截至发稿，特斯拉下跌7.32%。 ① 【三大期指齐跌】截至发稿，道指期货跌0.20%、标普500指数期货跌0.48%、纳指期货跌0.63%。 ③ 【外卖大战开启，阿里巴巴跌超1%】近日，阿里巴巴和美团上演外卖大战，两大平台放出大量大额 外卖红包券。高盛分析认为，此轮外卖价格战的根本目标并非外卖业务本身的盈利，而是通过高频次外 卖服务获取用户流量，交叉销售至盈利能力更强的电商和旅行业务。高盛预计，将外卖亏损视为营销支 出的长期投资策略，将在2025年至2026年上半年给各平台带来近期阵痛。截至发稿，阿里巴巴下跌 1 ...

Investment Rating - The industry investment rating is "Strongly Outperform the Market," indicating an expected industry index increase of over 5% in the next six months [32]. Core Insights - Oracle announced a $30 billion order and plans to expand data centers in the U.S., with multi-cloud database revenue growing at over 100% [4][7]. - CoreWeave received the first batch of NVIDIA GB300 servers, significantly enhancing AI processing capabilities and efficiency [8]. - Figma is preparing for a major IPO, projecting $749 million in revenue for 2024, with a focus on integrating AI into its design platform [9][13]. - The AI sector is experiencing a new technology cycle driven by increased computational power, model iteration, and accelerated commercialization [4]. - ByteDance's Doubao launched a new "In-Depth Research" feature, enhancing its AI capabilities for complex task processing [22][26]. Summary by Sections Oracle - Oracle's CEO stated a strong start to FY26, with multi-cloud database revenue growing over 100% and a significant contract with OpenAI expected to contribute over $30 billion annually starting FY28 [4][7]. CoreWeave - CoreWeave announced the receipt of NVIDIA's latest GB300 servers, which enhance AI model output efficiency by up to 50 times, marking a significant advancement in AI cloud services [8]. Figma - Figma aims for a $1.5 billion IPO, with 2024 revenue projected at $749 million, reflecting a 48% year-over-year growth. The platform is embedding AI to improve design efficiency [9][13]. AI Dynamics - The AI industry is witnessing a robust cycle characterized by high demand for computational power and rapid advancements in AI applications, with major companies like Oracle and CoreWeave leading the charge [4]. ByteDance - ByteDance's Doubao introduced the "In-Depth Research" feature, which allows users to process complex tasks and generate structured reports, indicating a shift towards deeper AI application capabilities [22][26].

【环球网科技报道 记者 李文瑶】7月2日，淘宝闪购宣布启动规模高达500亿元的直补计划，未来12个月 将同时面向商家与消费者投入真金白银——通过店铺补贴、免佣减佣等保障商家利润，借助大额红包、 一口价商品等让利激发用户消费活力。 此次，淘宝闪购的500亿投入迅速转化为服务消费市场的强劲推力：中小商户显著受益，消费场景全面 激活，城市经济活力迸发。 根据平台数据， 补贴上线首日，中小餐饮商家订单环比猛增140%，餐饮连锁品牌增长达170%，咖啡饮 品、甜品小吃等品类订单增幅超150%。下午茶、夜宵等多元场景订单分别增长170%和190%，呼和浩特 夜宵订单暴涨300%，沈阳、成都等城市夜间咖啡需求翻倍。全国超40个城市订单峰值刷新纪录，广 州、重庆等地增长超200%，杭州、武汉等新一线城市增幅突破100%。平台流量有效反哺线下，区域消 费生态持续升温。 补贴叠加即时配送等服务，更催生消费新热点。从季节节点来看，防暑需求激增。藿香正气水在青岛、 武汉等城市搜索量飙升200%～400%，风扇搜索量增长超200%，凉皮、凉粉在北京、郑州等地搜索量暴 增超200%。 最新数据显示，淘宝闪购日订单数超8000万，其中非餐 ...

Market Overview - The A-share market experienced fluctuations, with the Shanghai Composite Index closing up 0.02% and the ChiNext Index down over 1% [3][4] - A total of 3,255 stocks rose, while 1,978 stocks fell, with a total trading volume of 12,270.67 billion CNY [4][5] Electric Power Sector - Electric power stocks surged against the market trend, with companies like ShaoNeng Co., China Huadian Corp, and Shimao Energy hitting the daily limit [5][6] - The increase in electricity demand was driven by high temperatures across multiple regions, leading to a record high in national electricity load on July 4 [5] Charging Pile Sector - The charging pile sector saw significant gains, with companies like Aotexun hitting the daily limit [12][13] - A notice from the National Development and Reform Commission emphasized the need for scientific planning and construction of high-power charging facilities, aiming for over 100,000 such facilities by the end of 2027 [15][17] - The notice also highlighted the integration of charging facilities with local economic development and the importance of smart management and technology upgrades in the charging infrastructure [16][17] Real Estate Sector - Real estate stocks experienced a rally, with companies like Yuhua Development and Shahe Co. reaching their daily limits [8] - The Ministry of Housing and Urban-Rural Development called for accelerated construction of safe, comfortable, and green housing to stabilize market expectations and activate demand [8] Cross-Border Payment and Stablecoin Sector - Stocks related to cross-border payments and stablecoins showed volatility, with companies like Zhongyi Technology and Jingbeifang hitting the daily limit [7]

WebSailor团队 投稿 量子位 | 公众号 QbitAI 在互联网信息检索任务中，即使是很强的LLM，有时也会陷入"信息迷雾"之中：当问题简单、路径明确时，模型往往能利用记忆或一两次搜索 就找到答案；但面对高度不确定、线索模糊的问题，模型就很难做对。 举个例子，我们平常问一个直白的问题（比如"某城市的人口是多少"），搜索引擎一查即可。 但如果问题被设计得非常复杂，比如"这首与南美某首都密切相关的乐曲，其歌词作者在21世纪初获颁当地荣誉称号，其旋律创作者曾就读于 哥伦比亚西部的一所著名艺术学院。这首乐曲叫什么？"，人类和AI都很难直接找到入口。 这类问题需要阅读许多网页、抽丝剥茧地拼凑线索，逐步把迷雾拨开，才能找到答案。这超出了人类有限记忆和注意力的负荷，也远远超出了 普通开源模型的能力范围。 有没有办法让开源的大模型也掌握这种拨云见日的本领？ 阿里巴巴通义实验室最新提出的方案WebSailor通过一整套创新的post-training方法，大幅提升了开源模型在复杂网页推理任务上的表现。 此前开源的Agent在类似BrowseComp这样复杂的、超越人类能力边界的基准上几乎为零，WebSailor成为首个 ...

Core Insights - Major internet companies in China are undergoing significant organizational changes driven by AI integration and strategy adjustments [1][5][20] - The focus on AI has led to a restructuring of teams and roles, with companies like Alibaba, Tencent, and ByteDance making substantial investments and adjustments in their AI strategies [2][11][19] Group 1: Organizational Changes - Alibaba has reduced its partner team from 26 to 17, reflecting a shift towards streamlining operations and focusing on AI [1] - ByteDance has seen high turnover in its AI teams, with key figures leaving to pursue entrepreneurial ventures, indicating a dynamic environment [19] - Tencent is expanding its workforce significantly, planning to add 28,000 internship positions over three years, showcasing a commitment to growth in AI [19] Group 2: AI Strategy and Investment - Major companies have committed to substantial investments in AI, with Alibaba planning to invest 380 billion yuan over three years in cloud and AI infrastructure [2][20] - The top ten internet companies in China have varying AI strategies, with Tencent focusing on a multi-model approach and Alibaba prioritizing user-driven AI [3][5] - The competitive landscape for AI talent is intensifying, with companies offering high salaries to attract skilled professionals, reflecting the high demand for AI expertise [18] Group 3: Structural Models for AI - Companies are adopting different structural models for AI integration, with examples including Tencent's integration of AI products into its cloud services and Alibaba's layered approach with cloud and application layers [8][10] - The trend of merging similar AI functions within companies is evident, as seen in Alibaba's consolidation of its core business and AI initiatives [11][14] - The shift towards a more focused investment strategy in AI is apparent, with companies prioritizing high-potential projects while reducing redundancy [16][20]

Group 1 - The core transformation in China's food delivery market is driven by the rapid growth of Taobao Flash Purchase, which has significantly increased its daily order volume from 20 million to 80 million within two months, contributing to a potential doubling of the overall market orders to between 200 million and 250 million [1][2] - Meituan, previously the market leader with a daily order volume of 90 million, has seen its orders rise to 120 million, reflecting a growth rate of approximately 33%, which is notably higher than the overall market's compound annual growth rate of 13% [1][3] - The competition between Meituan and Taobao Flash Purchase is reshaping the market dynamics, with Taobao leveraging its e-commerce platform to integrate food delivery services, indicating a trend towards creating a comprehensive "big consumption platform" that transcends traditional online and offline boundaries [3][5] Group 2 - Taobao's integration of delivery services provides it with inherent advantages in supply and traffic, as it capitalizes on its user base, which is estimated to exceed 1 billion, making it the second platform after WeChat to achieve this milestone [5][6] - The synergy between online and offline consumption is evident, as the interaction between these two channels has led to a significant increase in consumer engagement, with Taobao reporting that non-food orders have reached 13 million, approaching Meituan's previous high of 18 million [6][8] - The ongoing competition is expected to expand the market size, with analysts suggesting that Taobao's subsidies could unlock consumption increments worth hundreds of billions, while Meituan's strong ground team could help more merchants tap into new growth opportunities [11][12]

此前7月2日，淘宝闪购宣布将在12个月内直补消费者及商家共500亿元，通过发放大额红包、免单卡、 官方补贴一口价商品等方式给消费者带来优惠、便捷的服务和体验，进一步激发消费活力。同时上线店 铺补贴、商品补贴、配送补贴、免佣减佣等措施，促进商家生意增长。 美团闪购上线于4月15日，品牌定位为"24小时陪伴消费者的新一代购物平台"，联合全国近3000个县市 区旗的零售商、品牌商与本地中小商家，服务消费者的日常购物需求。美团方面表示，7月5日是暑期消 费旺季正式开启后的第一个周末，也是外卖消费的传统促销季。公开报道显示，去年夏天美团的订单峰 值超过了9000万单。 京东方面，在此前6月18日的2025京东618媒体开放日上，京东外卖日订单量已突破2500万单，品质餐饮 门店入驻超过150万家，京东外卖全职骑手规模突破12万人。 开源证券认为，闪购业务得以快速发展的直接原因是即时零售用户心智的逐渐牢固和用户对闪购消费黏 性、依赖度的明显提升。即时零售本质是"本地供给+即时配送"对传统电商的降维打击，未来还将加速 推动零售行业的模式重构。 红星资本局7月7日消息，今日，淘宝闪购和饿了么联合宣布，淘宝闪购日订单数超800 ...