1月20日，2026年首场京东品酒会在广州香格里拉大酒店成功举行。活动现场，京东创新零售总裁与品牌合作伙伴、消费者齐聚一堂，共享香格里拉定制晚 宴，品君品习酒的同时，围绕京东生鲜超级供应链，从源头包销、定植定养、海外直采等方面展开了一场深入交流。 2026年首场京东品酒会 京东生鲜则面向来自全国的幸运用户，生鲜产业链上的众多品牌合作伙伴，展示了通过超级供应链能力，源头包销的查干湖冬捕有机胖头鱼、定植定养的京 东跑步鸡（原种清远走地鸡）、海外直采的新西兰车厘子，以及鲜京采年货海鲜礼盒等时下热门商品。 过去一年，京东生鲜深耕源头，在业内率先推出"包圆"模式，通过源头包销、源头直采、源头直发等方式，为消费者带来"又好又便宜"的生鲜商品。目前， 京东生鲜正在包销500万斤的耙耙柑、近50%产量的查干湖鱼。同时，京东生鲜积极走向供应链的最前端，通过对消费需求的洞察，反向推动合作基地进行 定植定养，给到产业端更确定性的增长，给到消费者更丰富的差异化供给。在广东清远、河北武邑、江西泰和等多地成功落地"跑步鸡"、"跑山猪"等项目。 在海外直采方面，通过专业买手直连海外产地，实现成本与品质的直接管控。让更多新奇特的全球好物，也 ...

Group 1 - JD launched multiple AI toys at the AI Toy Conference, designed for various interactive scenarios for children, including roles like "sister," "brother," "mother," "father," and "pet dog" [1] - The JoyInside solution, based on the JoyAI model, was introduced, providing a soft and hard integration solution for smart hardware, compatible with various devices and scenarios, enhancing interaction rounds by 120% [3][5] - JoyInside supports IoT devices, robots, plush toys, and early education machines, offering customizable hardware solutions and lifecycle support for brands, facilitating quick integration and product launches [5] Group 2 - The second batch of AI toys developed in collaboration with JD Jingzao targets both young and elderly users, including products like "Lao Lao Parrot" for seniors and "Qiu Qiu and Mo Mo" for young adults [5] - The global first customizable AI toy, MEO, developed by Greybon Technology, can create personalized 3D avatars and has an annual output value of 1.2 billion [7] - JD signed an agreement with the government of Suqian to establish an AI toy industrial belt, aiming to create a regional benchmark for innovative development in the AI toy sector [7]

Core Insights - JD.com launched the JoyInside integrated hardware and software solution at the AI Toy Conference in Suqian, Jiangsu, aimed at transforming the toy industry into the AI era [1] - The partnership with the Suqian government aims to establish an AI toy industrial belt, setting a benchmark for innovative development in the region [1] Group 1: JoyInside Solution Features - The JoyInside solution offers flexible and diverse integrated capabilities, with multiple mass-produced hardware cores that cater to a wide range of applications from plush toys to smart home devices [3] - Key features of the hardware include small size and strong adaptability, supporting continuous dialogue, offline voice, emotional interaction, and long-term memory [3] - The solution supports various connectivity options such as Wi-Fi, Bluetooth, and 4G, making it suitable for IoT devices, robots, plush toys, and early education machines [3] Group 2: User Experience Enhancements - JoyInside has optimized the interaction experience for children, achieving a voice recognition rate of over 95% through targeted improvements [5] - The solution ensures a device response time of less than 2 seconds and faster network configuration, addressing traditional smart hardware issues [5] - It integrates long-term memory systems and gamified mechanisms, providing a comprehensive smart experience across all age groups, from children to the elderly [5] Group 3: Market Impact and Ecosystem Development - JoyInside has opened its capabilities to the industry, providing full-chain incubation support, and has partnered with over 40 leading hardware brands, enhancing interaction rounds by 120% [7] - During the 2025 Double 11 shopping festival, products integrated with JoyInside saw sales increase by over 20 times compared to the 618 shopping festival, indicating strong market acceptance [7] - The AI toy industry is entering a "value year" focused on emotional companionship, with JD.com leveraging JoyInside to create a comprehensive ecosystem that validates its technology and market approach [7]

Group 1 - The global market risk appetite has significantly decreased following President Trump's renewed tariff threats towards Europe, leading to a sell-off in major stock indices [2][3] - The Dow Jones Industrial Average fell by 870.74 points, a decline of 1.76%, closing at 48,488.59 points; the S&P 500 dropped by 143.15 points, down 2.06%, at 6,796.86 points; and the Nasdaq Composite decreased by 561.07 points, a 2.39% drop, ending at 22,954.32 points, marking the worst single-day performance since October 10 of the previous year [2] - Major tech stocks experienced declines, with Nvidia down 4.32%, Apple down 3.45%, and Microsoft down 1.16%, among others [2] Group 2 - The CBOE Volatility Index (VIX), often referred to as the "fear index," rose to a two-month high, reflecting increased market anxiety [3] - Trading volume on U.S. stock markets reached approximately 20.6 billion shares, significantly above the 20-day average of 17.01 billion shares, indicating concentrated selling pressure [3] - Analysts suggest that the current geopolitical tensions regarding tariffs are more of an emotional shock rather than a fundamental change that would trigger a deep market correction [3] Group 3 - The global bond market is also experiencing spillover effects, with upward pressure on some European government bonds due to potential increases in defense spending [4] - The yield on the U.S. 10-year Treasury note reached a high of 4.313%, the highest since late August, closing at 4.287% after a rise of 5.6 basis points [5] - Market expectations for interest rate cuts by the Federal Reserve have been adjusted downward, with projections for a reduction of approximately 47 basis points in 2026, down from 53 basis points at the end of the previous year [5] Group 4 - Netflix reported fourth-quarter revenue of $12.1 billion, exceeding market expectations of $11.97 billion, with adjusted earnings per share of $0.56, also slightly above forecasts [6] - The company anticipates full-year revenue for 2026 to reach between $50.7 billion and $51.7 billion, with expectations for advertising revenue to potentially double in the future [6] - Following the announcement, Netflix's stock price fell by 4.9% in after-hours trading, influenced by merger financing and market sentiment [7] Group 5 - Gold prices surged significantly, with spot gold rising approximately 2% to $4,757.33 per ounce, reaching a historical high of $4,756.93 during the session [7] - Silver prices experienced a slight decline of 0.3%, settling at $94.38 per ounce, after hitting a record high of $95.87 [7] - Oil prices showed volatility, with light crude oil futures for February delivery rising by $0.90 to $60.34 per barrel, a 1.51% increase [8]

知名互联网大厂？便捷的快递？ 说到 京东 你会想到什么 目前京东美术馆正在积极筹备中，所在建筑被称为"画境之城"，建筑设计由奥雷·舍人事务所（Büro Ole Scheeren）负责，空间设计由如恩设计研究室（Neri&Hu Design and Research Office）负责。美术馆总建 筑面积超过10000平方米，并配备专业设施用于现场表演、沉浸式装置、展览、参与式工作坊及创意零 售。 在京东美术馆理事会指导下，京东美术馆由执行馆长岳鸿飞（Robin Peckham）领衔，率领一支驻扎深 圳的专业团队开展工作。 公共资料显示，岳鸿飞先后曾任职于台北当代艺术博览会联合总监（2019-2025），中国当代国际艺术 杂志《LEAP》主编（2014-2019）。他曾为尤伦斯当代艺术中心、复星艺术中心、K11艺术基金会等策 划艺术、科技、家庭文化等主题相关的展览，其中"Art Post-Internet"被《ART news》列为2010年代20个 最重要的艺术展览之一。 " 还是3C数码产品？ 实际上远不止如此 京东还开始进军艺术界 1月20日，京东集团正式宣布 成立京东美术馆（JD Museum） 就在深 ...

Investment Rating - The report maintains a "Positive" investment rating for the software and services industry [7] Core Viewpoints - The report expresses optimism regarding AI applications and domestic computing power investment opportunities, highlighting the acceleration of AI applications and the potential for industry upgrades in the long term [6][40] - The introduction of the Universal Commerce Protocol (UCP) by Google is seen as a significant development that could reshape the e-commerce landscape, facilitating seamless transactions and enhancing user experience [21][24][28] - The report emphasizes the importance of data element value release in 2026, marking it as a pivotal year for the digital economy and data market reforms [30][35][38] Summary by Sections Market Performance - Last week, the computer sector experienced a high and then a pullback, with an overall increase of 4.14%, ranking first among major industries in the Yangtze River region, and accounting for 11.21% of total market turnover [2][4][15] Key Recommendations - The report recommends focusing on: 1. Domestic large model manufacturers 2. Major domestic cloud service providers 3. Vertical scenario agent manufacturers 4. The domestic computing power supply chain, particularly AI chip companies like Haiguang Information and Cambrian [6][40] AI and E-commerce Developments - The UCP aims to create a standardized communication framework for AI agents, merchants, and platforms, potentially transforming the e-commerce industry by reducing decision-making time and enhancing transaction efficiency [21][24][28] - The report notes that AI-assisted shopping is expected to become mainstream, with significant growth projected in the AI e-commerce market from 23.93 billion yuan in 2020 to 50.44 billion yuan by 2024, with a compound annual growth rate of 20.50% [29] Data Element Value Release - The report highlights that 2026 is designated as the "Year of Data Element Value Release," with a focus on market-oriented reforms and the establishment of data standards to facilitate the flow and utilization of data [30][35][38] - The establishment of a data property rights registration system is anticipated to enhance data circulation and unlock value within the data economy [37][38]

Core Insights - The first JD Wine Tasting event of 2026 was successfully held in Guangzhou, showcasing JD's innovative retail capabilities and its collaboration with brand partners and consumers [1][3] Group 1: Event Highlights - The event featured a custom dinner at Shangri-La Hotel, where JD Fresh and Guizhou Xijiu presented various classic products for tasting, including premium base liquor and aged wines [3] - Xijiu's sales scale has surpassed 1.4 billion yuan, marking a new cooperation phase with JD since their partnership began in 2013 [3] Group 2: JD Fresh Supply Chain Innovations - JD Fresh has introduced a "包圆" (exclusive sourcing) model, enhancing its supply chain capabilities to provide high-quality and affordable fresh products [5] - The company is currently sourcing 5 million jin of Yaba Gan and nearly 50% of the production of Chagan Lake fish, demonstrating its commitment to direct sourcing and supply chain efficiency [5][7] - JD Fresh aims to expand its exclusive sourcing model to over 50 core categories in 2026, with a projected doubling of sourcing scale in Guangdong [7] Group 3: Consumer Engagement and Market Impact - The supply chain upgrades have led to significant sales growth, with Guangdong lychees reaching Xinjiang within 24 hours and achieving over fourfold sales growth within a month [7] - JD Fresh plans to enhance support for brand partners through various initiatives, including resource investment and operational assistance, to improve business efficiency [7] - Since the launch of the JD Wine Tasting event IP in September 2025, the initiative has successfully expanded to multiple cities, creating new social engagement opportunities for the hotel industry [8]

Core Viewpoint - The analysis suggests that Zhang Yiming will be the richest person in China and Asia in the next ten to twenty years due to his strong motivation, learning ability, execution power, and the resources of ByteDance [1]. Group 1: ByteDance's Strategic Position - ByteDance is expected to accelerate its international expansion, particularly with the launch of the Doubao phone and its entry into the automotive sector, aiming for a position in autonomous driving [2]. - The future of AI will see a significant reduction in the number of Super Apps, with only 3-4 likely to exceed 500 million monthly active users (MAU), compared to 10+ in the mobile internet era [2][3]. - The value of Super Apps in the AI era is projected to be several times greater than in the mobile internet era, with higher daily active users (DAU) to MAU ratios [2]. Group 2: Competitive Landscape - The competition for Super App dominance is intensifying, with Alibaba's Qwen positioned as a strong competitor to Doubao, marking a significant face-off between Zhang Yiming and Jack Ma [7]. - Other contenders for the Super App battle include Tencent, Meituan, Pinduoduo, JD.com, and Baidu, while smaller players like Xiaohongshu may struggle to compete effectively [7]. - The market for AI Super Apps is anticipated to be worth 1 trillion RMB, necessitating significant investment from companies with substantial cash reserves [7]. Group 3: Industry Insights - Huawei is unlikely to enter the Super App market due to its strategic focus on becoming a leading automotive group in China, while Tencent is seen as a stable player with a strong product matrix [8]. - The potential shift in user engagement from WeChat to Doubao could significantly alter the competitive dynamics in the app ecosystem, with Doubao's influence expected to grow rapidly [8].

Group 1 - The core viewpoint of the news is the implementation of the personal consumption loan interest subsidy policy, which allows consumers to benefit from financial incentives when purchasing products through platforms like JD.com [1][2] - The new policy extends the interest subsidy period to the end of 2026 and broadens the scope of eligible purchases, removing previous limits on subsidy amounts and categories [2] - JD.com has integrated the subsidy service across over a billion products, significantly enhancing consumer spending and financial inclusivity, with average spending per user increasing by nearly 20% since the policy's implementation [2] Group 2 - Consumers can enjoy multiple discounts and subsidies simultaneously, with the system automatically calculating eligible subsidy amounts during the payment process [2] - The policy has particularly benefited users in lower-tier cities, with 44% of subsidy orders coming from these areas, highlighting the reach of inclusive finance [2] - JD.com aims to continue promoting consumer spending through the effective implementation of this policy, enhancing spending flexibility for consumers [2]

Core Insights - The article highlights a transformation in consumer dining preferences from merely satisfying hunger to seeking quality and enjoyment, as evidenced by the launch of JD Seven Fresh Supermarket's "Super Surprise Day" event from January 19 to 22 [1] Product Innovation - JD Seven Fresh introduces creative fusion products that break traditional taste boundaries, such as the cherry box cake topped with 20 JJ-grade cherries, which has a 25% reduction in sugar without compromising flavor, priced at 49.9 yuan [3] - Other innovative offerings include the mustard seed crispy sausage bread and durian glutinous rice balls, which provide unique taste experiences [3][6] Health and Convenience - The supermarket emphasizes health-driven upgrades in everyday ingredients, like the Q glutinous germ rice that retains nutritional value and the non-fried whole grain pancakes that align with health-conscious trends [8] - The collaboration with "Zootopia 2" for a cheese cake that can be enjoyed immediately after thawing showcases the blend of convenience and modern culinary trends [5] Regional Flavors - JD Seven Fresh focuses on sourcing authentic regional delicacies, such as Xinjiang spicy beef and Inner Mongolia milk skin, which are modern interpretations of traditional flavors [10] - The supermarket also offers high-fidelity convenience dishes that allow consumers to recreate authentic tastes at home [10] Seasonal Offerings - The event features unique seasonal products like bamboo shoots and highland blue root vegetables, which add variety to winter dining [12] - Creative food designs, such as strawberry-shaped buns and snowflake-shaped ice cream, enhance the dining experience and appeal to consumers [12] Supply Chain Advantage - Leveraging JD's supply chain, Seven Fresh aims to provide a wide range of affordable and high-quality food options, encouraging consumers to explore new and exciting flavors [14]