日前，有消息显示，京东达达事业部已于近期正式更名为本地生活服务事业群。该事业群下设：秒送 （含外卖）、酒旅、家政、研发、整合营销、中台等业务部门。被称为"老K"的郭庆继续担任负责人， 向京东集团兼零售CEO许冉汇报。 京东CEO许冉曾在京东财报业绩会上对于入局外卖解释称，外卖是即时零售场景下用户高频的业务之 一，在即时零售包括外卖业务上的投入，对于京东丰富消费场景、打造能力、满足用户的需求和提升用 户体验、加强用户活跃度等方面，都有积极的效果，可以跟京东现有业务产生巨大的协同价值。京东集 团董事局主席刘强东称，京东做外卖的逻辑是服务背后的生鲜供应链，将采用跟美团完全不同的商业模 式。 从外卖到酒旅：围绕本地生活的商业生态竞争 此前6月，达达集团宣布与京东集团的私有化交易完成，从美股退市。有业内评论认为，此次更名，标 志着达达彻底融入京东生态，进入发展新阶段，也意味着京东即时零售战略的进一步升级，形成"即时 零售+本地生活"的闭环生态。 不过，对于上述消息，南都记者向京东方面求证，但截至发稿时暂未给予回应。 从支援到主力：即时零售被提升至战略新高度 公开信息显示，达达在2014年由蒯佳祺创立，曾先后获得了红杉、 ...

Core Viewpoint - The article discusses JD's acquisition of Dada and its implications for the local life service sector, suggesting that JD aims to replicate Meituan's success by integrating Dada into its ecosystem and enhancing its instant retail strategy [2][25]. Group 1: Acquisition and Integration - Dada has been rebranded as the Local Life Service Group under JD, indicating a strategic upgrade in JD's instant retail approach and the end of the "Dada era" [2][5]. - JD completed the acquisition of Dada for a valuation of $520 million, with the share price dropping significantly from its IPO price of $16 to $2, reflecting market concerns over Dada's financial integrity [7][12]. - Dada's internal financial discrepancies led to a significant drop in stock price, with a reported revenue inflation of approximately 568 million yuan and operational cost inflation of about 576 million yuan [8][17]. Group 2: Historical Context and Development - Dada's journey includes its founding in 2014, merging with JD's O2O subsidiary in 2016, going public in 2020, and finally being privatized in 2025 [10][4]. - JD's shareholding in Dada increased over time, reaching 63.2% after acquiring shares from Walmart, which aligns with JD's broader strategy to enhance its instant retail capabilities [17][18]. Group 3: Strategic Focus and Future Plans - JD's strategy is shifting from direct competition in the food delivery market to focusing on supply chain integration and operational efficiency across various sectors, including food delivery, travel, and home services [25][22]. - The appointment of "Old K" Guo Qing, a former Meituan executive, is seen as a strategic move to bolster JD's capabilities in the local life service sector [20][21]. - JD's new self-operated brand "Seven Fresh Kitchen" aims to provide a unique dining experience, indicating a shift towards a more integrated supply chain model [23][24].

Core Points - The pilot program for occupational injury protection for new employment forms will start on July 1, covering 11 platform companies in the ride-hailing, instant delivery, and local freight industries [1][2] - The payment standards for occupational injury protection fees are set at 0.01 yuan per order for the ride-hailing industry, 0.07 yuan and 0.25 yuan per order for the instant delivery industry, and 0.18 yuan per order for the local freight industry [1] - By 2027, the payment standards for platform companies will be subject to adjustments based on regulations [1] Industry Implementation - New employment personnel can report occupational injuries through a mobile app's "one-click reporting" feature, and claims for benefits must be submitted within a specified timeframe [2] - Medical expenses, rehabilitation costs, and other related expenses for occupational injuries will be covered by the work injury insurance fund [2] - Four commercial insurance companies have been selected to assist in the management of occupational injury claims and related processes [2] Current Status - Since the pilot program's launch, 595,000 new employment personnel have been included in the protection scheme, ensuring their legal rights are safeguarded [2]

Key Points - Toyota's chairman Akio Toyoda's annual salary is revealed to be 1.949 billion yen (approximately 96.58 million RMB), marking a 20% increase year-on-year and a historical high for four consecutive years [4] - In contrast, the salaries of Chinese automotive executives are significantly lower, with Geely's Li Shufu earning only 376,000 RMB, which is equivalent to just 1.5 days of Toyoda's income [4][5] - The highest-paid individuals in Chinese car companies are often not the CEOs, as seen in Geely where CEO Gui Shengyue earns 32.01 million RMB, while Li Shufu's salary ranks much lower [5][6] Domestic News - Xiaomi's president Lu Weibing stated that Xiaomi does not engage in price wars and aims to collaborate with leading companies like Midea and Haier to advance the home appliance industry [8][9] - The domestic GPU company Moore Threads has completed its IPO counseling, potentially becoming the first GPU stock in China [9][10] - Bilibili reported that its monthly revenue from animated short dramas reached over 10 million RMB in Q1 2025, a 50-fold increase from the previous year [30] International News - OpenAI's CEO announced that GPT-5 is expected to be released this summer, promising significant advancements in AI capabilities [36][37] - Samsung is facing a crisis with reports of data falsification and employee turnover due to poor working conditions, leading to a decline in its semiconductor business [34][35] - Volvo plans to increase prices of its models in the US by up to 6% next year, which could result in price hikes of several thousand dollars for certain models [42][43]

Core Viewpoint - Dada Group has completed its privatization transaction, becoming a wholly-owned subsidiary of JD Sunflower Investment Limited, which is fully owned by JD Group, and will no longer be a publicly listed company starting June 17, 2025 [1][3]. Company Overview - Dada Group was established in 2014 and merged with JD Group's O2O subsidiary in 2016, rebranding in 2019. It went public on NASDAQ in June 2020, becoming the first Chinese company to list in the instant retail sector in the U.S. [3]. - The company has faced continuous losses due to rising sales and marketing expenses, user incentives, and personnel costs, with cumulative losses exceeding 13 billion yuan from 2017 to 2023 [3][4]. Market Position and Performance - JD Group has been increasing its stake in Dada Group to strengthen its instant retail and delivery capabilities, with Dada's active delivery personnel exceeding 1.2 million by the end of 2023 [4]. - In 2024, Dada Group's total revenue was 9.664 billion yuan, a decrease of 8% year-on-year, with a net loss of 2.039 billion yuan, widening by 4.14% compared to the previous year [4]. Privatization Offer - In February 2025, JD Group made a privatization offer to Dada Group at $2.0 per ADS or $0.5 per ordinary share, valuing the company at approximately $520 million [5]. - JD's recent announcement of its food delivery business, which is part of the JD Seconds brand, indicates a strategic move to leverage Dada's delivery capabilities, with daily order volumes exceeding 25 million and over 150,000 restaurants onboarded [5].

Core Viewpoint - Dada Group has completed its privatization transaction and will voluntarily delist from the stock market [1] Group 1: Privatization Details - Dada Group announced the completion of the privatization transaction as per the merger agreement signed on April 1, 2025 [1] - The merger was executed with JD Sunflower Merger Sub Limited, a wholly-owned subsidiary of JD Sunflower Investment Limited [1] - Following the merger, Dada Group has become a wholly-owned subsidiary of its parent company, JD.com, Inc., and will cease trading as a public company [1]

Core Viewpoint - Dada Nexus Limited has completed its merger with JD Sunflower Merger Sub Limited, becoming a wholly owned subsidiary of JD.com, Inc., and will cease to be a publicly traded company [1][2]. Group 1: Merger Details - The merger was approved by Dada's shareholders on June 10, 2025, and became effective on June 16, 2025 [2]. - Each American depository share (ADS) will be cancelled in exchange for US$2.0 in cash, while each ordinary share will be cancelled for US$0.5 in cash, excluding certain shares [2]. - Registered shareholders will receive instructions on how to surrender their shares for the merger consideration [3]. Group 2: Trading and Reporting Suspension - Dada has requested the suspension of trading of its ADSs on Nasdaq effective June 17, 2025, and will file a Form 25 for delisting [4]. - The company intends to suspend its reporting obligations under the Securities Exchange Act of 1934 by filing a Form 15 with the SEC [4]. Group 3: Advisory and Legal Counsel - Kroll, LLC is serving as the financial advisor to the Special Committee of independent directors [5]. - UBS AG Hong Kong Branch is the financial advisor to JD, with legal counsel provided by Skadden, Arps, Slate, Meagher & Flom LLP [6]. Group 4: Company Overview - Dada Nexus Limited is recognized as China's leading local on-demand retail and delivery platform, operating JD NOW and Dada NOW, which are interconnected to enhance delivery efficiency [7][8].

Market Capitalization Overview - New Oriental has a market capitalization of 14.264 billion [2] - TAL Education (好未来) has a market capitalization of 8.983 billion [2] - Vipshop (唯品会) has a market capitalization of 7.770 billion [2] - Zai Ding Pharmaceutical (再鼎医药) has a market capitalization of 4.357 billion [2] - RELX has a market capitalization of 3.519 billion [2] Stock Performance - New Oriental's stock increased by 0.39 (+2.21%) [2] - TAL Education's stock increased by 1.00 (+5.02%) [2] - Vipshop's stock increased by 1.47 (+3.15%) [2] - Zai Ding Pharmaceutical's stock increased by 0.40 (+0.96%) [2] - RELX's stock increased by 0.37 (+2.98%) [2] Additional Companies - Huya (虎牙) has a market capitalization of 1.059 billion with a stock increase of 0.04 (+1.03%) [2] - iQIYI (爱奇艺) has a market capitalization of 2.479 billion with a stock increase of 0.14 (+1.52%) [2] - Lexin (乐信) has a market capitalization of 1.529 billion with a stock increase of 0.34 (+4.15%) [2] - Yihua Smart (宜人智科) has a market capitalization of 0.548 billion [2] Smaller Market Players - Sohu has a market capitalization of 0.323 billion with a stock decrease of 0.04 (-2.02%) [3] - Xiaoniu Electric (小牛电动) has a market capitalization of 0.257 billion [3] - Baozun (宝尊电商) has a market capitalization of 0.173 billion [3] - Huami Technology (华米科技) has a market capitalization of 0.164 billion [3]

Market Capitalization Overview - New Oriental has a market capitalization of 14.065 billion [2] - TAL Education (好未来) has a market capitalization of 8.413 billion [2] - Miniso (名创优品) has a market capitalization of 5.728 billion [2] - JD.com (京东) has a market capitalization of 66.01 billion [2] - iQIYI (爱奇艺) has a market capitalization of 2.439 billion [3] Stock Performance - New Oriental's stock decreased by 0.15 (-0.77%) [2] - TAL Education's stock decreased by 0.21 (-1.20%) [2] - Miniso's stock increased by 1.24 (+2.61%) [2] - iQIYI's stock decreased by 0.05 (-0.48%) [3] - JD.com's stock increased by 0.39 (+3.92%) [3] Company Comparisons - New Oriental's market cap is significantly higher than that of TAL Education, which is about 60% of New Oriental's value [2] - Miniso's market cap is approximately 67% of TAL Education's market cap [2] - iQIYI's market cap is lower than that of Miniso, indicating a weaker market position [3] Industry Insights - The overall market performance shows a mixed trend with some companies experiencing gains while others face declines [2][3] - The education sector, represented by New Oriental and TAL Education, shows volatility with both companies experiencing stock price fluctuations [2] - E-commerce and entertainment sectors, represented by Miniso and iQIYI, also reflect varying market sentiments [2][3]

Core Viewpoint - Dada Nexus Limited has received shareholder approval for a merger agreement with JD Sunflower Investment Limited, which will result in Dada becoming a wholly owned subsidiary and a privately held company, leading to the termination of its ADS program and delisting from NASDAQ [1][2][3]. Group 1: Merger Details - The extraordinary general meeting of shareholders saw approximately 73.4% of total outstanding ordinary shares voting, with 92.1% of votes cast in favor of the merger agreement [2]. - The merger agreement was dated April 1, 2025, and involves the merger of Dada with JD Sunflower Merger Sub Limited, a wholly owned subsidiary of JD Sunflower Investment Limited [1][2]. - Upon completion, Dada will cease to exist as a publicly traded entity, and its American depositary shares will no longer be listed on any securities exchange [3]. Group 2: Company Overview - Dada Nexus Limited is recognized as China's leading local on-demand retail and delivery platform, operating JD NOW and Dada NOW, which are interconnected to enhance delivery efficiency and order volume [4]. - JD NOW serves as a major local on-demand retail platform, while Dada NOW provides delivery solutions across various industries, benefiting both platforms through increased order density and improved delivery experiences [4].