e 6 @新浪科技 q 6 @新浪科技 楼内共有 565 间客房，面积 38-95 平方米不等，打造了五种户型满足不同的租住需求。室内配备全屋智 能家电与科学收纳系统规划，并采用四重隔音设计营造静谧环境，让拎包入住更省心安心。 更值得一提的是，亲橙寓配套约 1600 平方米的超大公共空间，包含书屋、健身房、多功能活动室等。 露台与屋顶公园相连，未来该空间将依托"亲橙活动日历"，定期举办读书沙龙、技能课程等活动，打造 成为一个"不止于住"的复合型成长社区。（IT之家） 【#阿里巴巴首家人才公寓正式运营#】据南京市建邺区委宣传部官方微信公众号"建邺播报"消息，12 月 4 日，阿里巴巴首家人才公寓 —— 亲橙寓在南京建邺正式运营。 据介绍，亲橙寓位于南京阿里中心 T7 栋，项目坐拥双地铁上盖的优越区位 —— 紧邻地铁 7 号线 / S3 号线永初路站，步行即可抵达。据亲橙寓运营方介绍，开业期间将面向南京青年人才推出租金优惠政 策。 t 1 = . . - - 6°@新浪科技 ...

Core Points - Changchun City will launch an e-commerce consumption voucher program named "Ice and Snow Carnival · Enjoy Consumption" in December 2025 to stimulate consumer spending and drive economic growth [1] - The program will utilize a "government subsidy + enterprise matching" model, with the government contributing 50 million yuan and enterprises required to match at least 1:1 [1] Activity Platform - The consumption vouchers will be available on JD APP, Taobao APP, and Tmall APP [2] - The activity period for JD APP is from December 4, 21:00 to December 31, 00:00, while for Taobao APP and Tmall APP, it is from December 4, 21:00 to December 25, 00:00 [2] Supported Categories - The program supports 11 major categories of home appliances, including air conditioners, televisions, refrigerators, washing machines, and more [4] - Additionally, it includes 10 minor categories of home appliances such as vacuum cleaners, electric ovens, and air purifiers [4] - It also covers 4 types of 3C digital products, including computers, mobile phones, tablets, and smartwatches [5] Subsidy Standards - For the 11 major categories of home appliances, the subsidy is 20% of the sales price for first-level energy efficiency products, capped at 2,000 yuan per item [6] - For second-level and other energy efficiency products, the subsidy is 15%, capped at 1,500 yuan per item [6] - For the 10 minor categories of home appliances, the subsidy is 15%, capped at 1,500 yuan per item [6] - For 3C digital products, the subsidy is 10%, capped at 1,000 yuan per item [6] Participation Process - Consumers must log in to the Cloud Flash Payment APP to claim the consumption vouchers [7] - To redeem, consumers log in to the respective e-commerce apps and select the "Changchun Consumption Voucher" to make purchases [7] Other Rules - Vouchers are valid for the day they are issued and expire at 24:00 if not used [8] - In case of returns, consumers can reapply for the government subsidy the day after the return [9] - Any fraudulent activities will result in disqualification from the program [10]

Core Insights - Alibaba disclosed in its mid-year report for fiscal year 2026 that it sold 85% of Trendyol GO, a subsidiary operating local life services in Turkey, for approximately $700 million (RMB 5 billion) [1][3] Financial Performance - The sale generated approximately RMB 6 billion in revenue, which was included in the unaudited condensed consolidated profit and loss statement for the six months ending September 30, 2025, primarily considering cash received, the net asset value of Trendyol GO, and the fair value of the retained 15% equity [3] - In the fourth quarter of fiscal year 2023, Alibaba's international retail business, including Lazada, AliExpress, Trendyol, and Daraz, saw a 15% year-on-year increase in order volume and a 41% increase in revenue [4] - Trendyol's business showed strong recovery starting March, with a year-on-year order growth rate of 46% in the first quarter of fiscal year 2024 [4] - In the third quarter of fiscal year 2025, Alibaba's international digital commerce group reported a 10% year-on-year revenue increase to RMB 34.799 billion, with adjusted EBITDA profitability of RMB 162 million, driven by logistics optimization and improved input efficiency [4] Company Background - Trendyol, founded in 2010 and operated by the Turkish e-commerce platform Trendyol, was initially acquired by Alibaba in 2018 for at least $750 million, with further investment of $350 million in 2021, raising Alibaba's stake to 86.5% [3] - Trendyol has been positioned as a key player in Alibaba's globalization strategy, with aspirations to become "the Alibaba of Turkey" as stated by its 32-year-old founder, Demet Mutlu [3]

财报数据显示该交易为阿里带来了显著的账面收益。计入利息收入和投资净收益的金额约为人民币60亿 元。这一收益的计算基础不仅包含已收到的现金对价，还纳入了Trendyol GO的净资产账面值。对 Trendyol GO剩余15%股权进行的公允价值重估也被计入其中。 本文源自：市场资讯 阿里巴巴集团于12月4日发布的2026财年中期报告披露了一项重大资产处置进展。公司已完成向优步 （Uber）出售土耳其电商平台Trendyol旗下子公司Trendyol GO 85%股权的交易。该笔交易的现金对价 约为7亿美元，折合人民币约50亿元。交割工作已在截至2025年9月30日止的六个月期间内全部完成。 作者：观察君 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 ...

Group 1 - The core viewpoint of the article emphasizes the competitive landscape of the food delivery and instant retail sectors, particularly focusing on Hema's strategic shifts and challenges in the context of Alibaba's broader market strategies [1][4][34] - Hema's GMV target of 100 billion yuan by 2025 may be achieved sooner than expected due to aggressive market strategies and integration within Alibaba's ecosystem [5][39] - Hema's recent performance includes a GMV exceeding 75 billion yuan and a positive adjusted EBITA for the first time, indicating a significant turnaround under new leadership [6][39] Group 2 - Hema faces intense competition from various players, including offline discount stores and established rivals like Sam's Club, while also needing to adapt to the integration with Taobao Flash Sale [7][10] - The rapid growth of Taobao Flash Sale has led to a significant increase in Hema's daily order volume, which reached 2 million orders in June, a 70% year-on-year increase [10][35] - Despite the increase in order volume, Hema's average transaction value has decreased from 90-100 yuan to 50-60 yuan after integrating with Taobao Flash Sale, raising questions about profitability [11][12] Group 3 - Hema's strategy includes a renewed focus on front warehouses, with plans to open 200-300 new locations by the end of the year, reversing a previous decision to halt this initiative [9][14] - The front warehouse model is seen as a way to enhance delivery efficiency and meet the growing demand for instant retail, with Hema's core offering being a 30-minute delivery service [13][15] - Competitors like Xiaoxiang Supermarket have a significantly higher number of front warehouses, which poses a challenge for Hema in terms of market penetration and delivery efficiency [15][18] Group 4 - Hema's other core business, Super Box NB, is expanding rapidly, with an average of 20 new stores opened per month since its brand upgrade in August [21][22] - The Super Box NB model focuses on high efficiency and profitability through a smaller store footprint and a streamlined product offering, which has proven to be successful in urban markets [24][27] - The shift towards discount retailing is driven by changing consumer preferences and a need for cost-effective shopping options, particularly in lower-tier cities [29][30] Group 5 - Hema's integration into Alibaba's ecosystem allows it to leverage resources and support, enhancing its competitive position in the instant retail market [34][35] - The collaboration with Taobao Flash Sale has resulted in a significant increase in user engagement and order volume, indicating a successful strategy shift [35][38] - Hema's future growth is expected to be supported by a focus on user experience and high-value customer engagement, which could lead to a revaluation of the company [39][40]

外卖大战没有绝对赢家 | | | 截至9月30日止三個月 | | | 截至9月30日止六個月 | | | --- | --- | --- | --- | --- | --- | --- | | | 2024 | 2025 | | 2024 | 2025 | | | | 人民幣 | 人民幣 | 美元 | 人民幣 | 人民幣 | 美元 | | | | (以百萬計) | | | (以百萬計) | | | 經營活動產生的現金流量淨額 | 31.438 | 10.099 | 1.419 | 65.074 | 30.771 | 4.322 | | 投資活動產生(所用)的現金流量淨 | | | | | | | | 額 | 964 | (69,652) | (9.784) | (34.865) | (51.324) | (7,209) | | 融資活動(所用)產生的現金流量淨 | | | | | | | | 額 | (66,782) | 10.902 | 1.531 | (86,364) | 8.171 | 1.148 | | 匯率參動對現金及現金等價物、受限 | | | | | | | | 制現金及應收託管資金的影響 | ...

记者获悉，2025年海外大促"黑五"期间，阿里速卖通上二轮电动车行业销量增长约40倍。接连吸引了英 格威ENGWE、大鱼智行电动车DYU、Luckeep陆续加入。其中长期位居亚马逊欧洲站销量第一的品牌 英格威在加入速卖通后，连续三个月实现三位数销售增长，跻身速卖通头部阵营。 今年"双11""黑五"期间，速卖通在欧洲市场全面爆发。据知名应用分析平台Sensor Tower数据，"黑 五"首日，速卖通AliExpress在欧洲市场下载量超过亚马逊。有业内人士指出，作为电商"出海四小龙"中 唯一能在品牌出海赛道与亚马逊正面竞争的平台，"黑五"在欧洲实现下载量反超，代表速卖通开始向亚 马逊的核心主场发起挑战。 业内人士表示，过去几年，一个品牌典型的出海路径通常是：先投入亚马逊，靠产品力打出销量，再逐 步尝试让海外市场接受品牌，慢慢建立独立站。这也是大多数中国高端制造品牌的共同选择。 2025年，一批二轮电动车品牌在速卖通上"悄悄爆发"，销量持续上涨，"我们被打动了，决定不再观 望。"英格威负责人坦言，看到友商在速卖通上越做越大，肯定会动心。 速卖通也在持续加码品牌出海战略。据介绍，2025年，速卖通推出了"超级品牌出 ...

破解家装行业痛点，重拾消费信心，一改"先交款、后服务"的行业规则，爱空间携手支付宝，推 出"钱随进度走，款按质量付"的家装全流程新模式，正在用实际行动给寒冬中的家装业带来希冀。 在电商领域，资金由第三方平台存管、"确认收货"后再付款早已是普遍模式，这么"香"的支付模式 能不能搬来夯实家装行业的信任基石？爱空间直面行业沉疴，肩负起品牌责任，与支付宝牵手，正是以 主动破局的姿态推动行业信任革新的初衷。 在陈炜看来，家装行业是既具备了产品属性，又具备了服务属性的行业，它的供应链，它的产业功 能，它显示出来的样板间的产品，包括它的数字化的信息系统，其实是一个产品属性。但是我们的设计 师服务、管家服务更多的是一个服务属性。 "今天消费者在这个时代越来越需要一个好的服务呈现出好的品质，好的贴心的体验，来完成这件 事情，所以只有通过把主动权交回给客户，真正让客户满意了，才能释放出来资金，让装修公司得到资 金的确认，是能够把这个行业的服务再拉伸到一个更高的台阶，我们希望通过这样的方式倒逼自己把服 务做得更好，我相信这种方式势必一定会让我们爱空间自己把服务做得更好，这是一个主动权交换的问 题。"陈炜说。 与支付宝合作之后，爱空 ...

Summary of Conference Call Notes Industry Overview - The AI mobile phone market is expected to show significant growth in the coming years, with notable attention on Apple's performance in the first half of 2026 and the releases from Google Open, OpenAI, and Apple Glasses in the second half of 2026 [2][10]. Key Points and Arguments AI Mobile Phone Market - ByteDance's collaboration with ZTE on AI mobile phones has shown good performance in user interface upgrades, but it faces limitations such as single-task flow and authorization issues that need to be addressed [1][5]. - The AI mobile phone market has exceeded expectations primarily due to previously low market expectations and a faster-than-anticipated release schedule [2]. Apple's AI Technology Development - Apple faces challenges in coordinating interests among mobile manufacturers, application developers, and model providers, which has slowed progress in API calls and data integration [3]. - Organizational restructuring at Apple may accelerate the implementation of AI technologies, with a significant upgrade to Siri expected in spring 2026, potentially shortening the user upgrade cycle [6][10]. - The rise in storage prices may impact consumer electronics sentiment but has limited effects on the supply chain, with high-end consumers more willing to accept additional costs due to computational power consumption [11][12]. Strategic Partnerships - Apple prioritizes ecosystem advantages when selecting AI partners, initially collaborating with ChatGPT and later with Gemini overseas, while shifting to Alibaba's Tongyi Qianwen in the domestic market [7][8]. - Alibaba's extensive ecosystem, including high-frequency applications like Taobao and Alipay, enhances user reliance on AI functionalities, making it a strategic choice for Apple [8]. ByteDance's Smart Phone Features - ByteDance's Doubao smartphone is an engineering prototype that allows for large model access in a screen-off scenario and can run background processes without affecting other applications [9]. - The Doubao smartphone offers a one-year free trial for all AI features, with potential future charges for AI functionality, indicating a market opportunity among high-end consumers who may accept additional fees [9]. Future Outlook - In 2026, companies like Apple are expected to benefit from their stability and long-term storage advantages, with investment opportunities arising from AI upgrades anticipated in March and April [6][10]. - Non-mobile hardware products, such as OpenAI's native AI hardware and Google's AR glasses, are expected to be significant in the second half of 2026, providing new growth points for the industry [10][13]. Additional Important Insights - The structural changes within Apple, including reporting adjustments for AI leadership, may enhance the speed of AI technology deployment [4]. - The market's response to AI glasses and other emerging hardware products will be crucial for investment strategies in the coming years, particularly in relation to OpenAI and Google's initiatives [13].

Core Viewpoint - Alibaba disclosed in its mid-term report for the fiscal year 2026 that it sold 85% of its subsidiary Trendyol GO, which operates local life services in Turkey, for approximately $700 million (RMB 5 billion) [1] Group 1: Sale Details - The sale agreement was established in May 2025, and the cash consideration was completed within the six-month period ending September 30, 2025 [1] - The proceeds from the sale generated approximately RMB 6 billion, which was included in the unaudited condensed consolidated income statement for the six months ending September 30, 2025, primarily considering cash received, the net asset book value of Trendyol GO, and the fair value of the retained 15% equity [1] Group 2: Background Information - Uber announced in May 2025 that it would acquire 85% of Trendyol GO for about $700 million in cash [1] - Trendyol GO was established in 2010 and is operated by the Turkish e-commerce platform Trendyol, which is majority-owned by Alibaba [1]