近日，全球消费健康领导品牌赫力昂集团与拼多多达成重大战略合作，赫力昂中国大陆及香港地区总经 理顾海英亲率中国区管理团队到访拼多多总部，双方高管团队就健康普惠、市场拓展和产品共创等议题 进行了深入探讨，并宣布开启新一轮战略合作，持续扩大赫力昂在中国市场的影响力。 四重护齿矩阵* रु 新 防蚊+抗敏 SENSODYNE ® 防蛙 NaF 抗 越 洁齿 清 新 防蛀抗敏牙膏 四重护齿矩阵 ▲2025年，舒适达在拼多多全网独家首发舒适达防蛀抗敏系列牙膏，带动品牌新客户获得可观增长。 "县域市场对于舒适达而言是一座巨大的金矿，做好城市渗透、品牌渗透是舒适达未来的重要增长引 擎。2026年，我们专注于牙龈健康的品牌'益周适'也将在拼多多上线官旗店，并推出独家新品，希望借 助与平台进一步的深度共创，持续赋能消费者自主健康管理。"赫力昂口腔事业部高级电商KA经理韩佳 阳表示。 顾海英表示，中国市场对于赫力昂具有重要战略地位，当前中国消费者日益提升的品质、健康需求正为 赫力昂带来新的发展机遇。"以口腔健康为例，中国消费者已从普通的清洁型、美白型需求升级到各类 功能需求，对于全身心健康的重视程度加速提升，而这正是赫力昂得以发挥 ...

Military and Geopolitical Developments - The US Central Command announced that the Ninth Air Force will conduct air force readiness exercises in the Middle East, aimed at enhancing rapid deployment capabilities [2] - The USS Abraham Lincoln Carrier Strike Group has entered the Middle East, and the US has informed Israel about military preparations against Iran, expected to be completed within two weeks [2] - Iran's Revolutionary Guard Navy officials stated they have achieved real-time monitoring of the Strait of Hormuz and are prepared for any potential conflict, asserting they do not seek war but are ready for a response [2] Financial Markets Overview - US stock markets showed mixed results, with the Dow Jones down 0.83%, while the Nasdaq rose by 0.91% and the S&P 500 increased by 0.41% [3] - Major tech stocks mostly rose, with Amazon up 2.63%, Microsoft up 2.19%, and Apple up 1.12%, while Tesla fell nearly 1% [3] - The Nasdaq Golden Dragon China Index increased by 0.48%, with mixed performances among popular Chinese stocks [3] Commodity Prices - International oil prices rose, with WTI crude oil futures closing at $62.57 per barrel, up 3.20%, and Brent crude oil futures at $66.70 per barrel, up 2.98% [3] - Spot gold increased by 3.45%, reaching $5,181.04 per ounce, with a peak at $5,190.06, marking a historical high [3] - Spot silver rose by 7.97%, priced at $112.14 per ounce [3] Currency and Exchange Rates - The US Dollar Index fell to 95.775, hitting a low of 95.510, the lowest since early 2022 [4] - The offshore RMB was quoted at 6.9321, while the onshore RMB was at 6.9545 [5] Corporate Announcements - Anta Sports announced plans to acquire a 29.06% stake in Puma for €15.06 billion (approximately 123 billion RMB), aiming to become its largest shareholder [15] - Micron Technology plans to invest $24 billion in Singapore over the next decade to expand NAND flash memory production, creating approximately 1,600 jobs [16] - DeepSeek launched a new AI model, DeepSeek-OCR 2, which can interpret images in a human-like logical sequence, enhancing its visual understanding capabilities [13]

Market Performance - On January 27, the US stock indices closed mixed, with strong performance in technology stocks driving the Nasdaq and S&P 500 up. The Dow Jones fell by 0.83% to 49,003.41 points, while the S&P 500 rose by 0.41% to 6,978.6 points, and the Nasdaq increased by 0.91% to 23,817.1 points [1][2]. Technology Sector - Six out of the seven major US technology companies saw stock price increases, with Nvidia and Apple rising over 1%, and Microsoft and Amazon increasing by more than 2%. However, Tesla's stock fell by 0.99%. Tesla's market share in the EU, UK, and EFTA dropped to 3% in December, while BYD's market share was 2.4%. Tesla's pure electric vehicle market share stands at 11.4% [2][3]. Semiconductor Stocks - Most semiconductor stocks experienced gains, with Intel rising by 3.39%, ASML by 2.92%, Broadcom by 2.43%, TSMC by 1.67%, and AMD by 0.26%. ARM saw a slight increase of 0.18%, while Qualcomm's stock fell by 0.96% [3]. Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.48%, with many popular Chinese stocks performing well. Notable increases included Huya up nearly 20%, Kingsoft Cloud up 8.77%, Bilibili up 3.43%, Baidu up 1%, Alibaba up 0.79%, NIO up 0.65%, New Oriental up 0.56%, Tencent Music up 0.18%, and Pinduoduo up 0.05% [3]. Commodity Market - International oil prices surged, with US oil closing nearly 3% higher on January 27 and continuing to rise slightly on January 28. Brent crude oil also saw an increase of over 3% on January 27 [3]. Precious Metals - On January 28, spot gold prices slightly declined, while silver experienced a significant drop of 1%. In less than a month, both London spot silver and COMEX silver futures have seen year-to-date increases exceeding 50%. According to Guoyuan Futures, industrial demand for silver is expected to stabilize and decline by 2026, but physical investment demand is anticipated to expand, suggesting that precious metal prices may continue to strengthen [4]. Cryptocurrency Market - Cryptocurrencies saw a broad increase, with Bitcoin rising above $89,000, marking a 1.26% increase. Ethereum also rose by 3.18% to $3,018. Other cryptocurrencies like Solana, XRP, and Dogecoin experienced gains as well [5]. Geopolitical Developments - Reports indicate that the CIA is secretly pushing for a "long-term presence" in Venezuela, with plans to influence the country's future under the Trump administration. This may involve creating conditions for US diplomatic actions [6]. Additionally, the US has communicated to Israel its military preparedness regarding Iran, with potential actions expected in the coming months [7]. Consumer Confidence - A preliminary survey by the World Large Enterprises Research Association indicated that the US consumer confidence index dropped significantly from a revised 94.2 in December to 84.5 in January, marking the lowest level since May 2014 [7].

Market Overview - The Nasdaq China Golden Dragon Index (HXC) increased by 0.48% on January 28 [1] - The Dow Jones Industrial Average fell by 408.99 points, a decrease of 0.83%, closing at 49,003.41 points [9] - The S&P 500 Index reached a new intraday high of 6,988.82 points [10] - The Nasdaq Composite Index rose by 215.74 points, an increase of 0.91%, closing at 23,817.10 points [9] Gainers in Chinese Concept Stocks - TSMC rose by 1.67%, Alibaba increased by 0.78%, and Baidu gained 1.00% [1] - Notable gainers included: - Lianhua Electronics up 10.24% - Bilibili up 3.43% - NIO up 0.76% [1][9] Losers in Chinese Concept Stocks - Notable decliners included: - NetEase down 0.68% - JD.com down 0.94% - Ctrip down 2.39% [9] - Other significant losses were seen in: - Li Auto down 1.12% - Xpeng down 1.09% [9] Notable Stock Movements - The top gainers included: - Huya up 19.33% - Suxuan Hall up 23.97% - Wisdom Infinite up 31.25% [3][13] - The top decliners included: - Fanhua Financial down 11.42% - China Natural Resources down 9.38% [7][15]

NEW YORK, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of  PDD Holdings Inc. (“PDD” or the “Company”) (NASDAQ: PDD).  Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether PDD and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On January 19, 2026, B ...

近日，中国青年报社社会调查中心联合问卷网发布的一项有1334名青年参与的调查显示，97.2%的受访 青年尝试过"轻养生"，食疗养生（59.8%）是受访青年尝试最多的"轻养生"方法。 在高强度、快节奏的生活中，越来越多人倾向于选择低门槛、可持续的方式来保持健康。在这一趋势 下，一批原本依托内容平台成长的新锐健康品牌，开始寻找新的增长空间——不再满足于"被种草"，而 是试图进入更广阔、更稳定的交易场域。拼多多新电商，成为其中不少品牌绕不开的一站。 智通财经记者 王佳成 一边是"保温杯配枸杞"，一边是"早C晚A饮"（早上喝美白类的蔬果花茶，晚上喝抗氧化安神的养生饮 品）——大健康时代，越来越多的00后将"轻养生"挂在嘴边。 从一年观望到果断入场 在正式入驻拼多多之前，每日乔安并不着急。 这家品牌的创始人陆乔安在耶鲁大学毕业，通过在社交媒体平台打造人设，进而成立养生品牌，产品端 主攻中高端市场，以养生冲调粉剂、黄精等产品为主。 每日乔安品牌创始人 陆乔安 "我们观察了差不多一年。"每日乔安品牌联合创始人严文婷对智通财经说，在团队最初的判断中，拼多 多更像是一个"量大、价格敏感"的平台，而每日乔安希望走偏高端、强调成分 ...

互联网行业对短剧的重视正不断提升。1月26日，在腾讯年会上，董事会主席马化腾再度谈及这一领 域。他表示，腾讯视频在2025年虽然爆款不多，需要给予成长耐心，但也直面了来自短剧的冲击。未 来，平台除了坚持高品质长视频投入，接下来也要做一些广告驱动的产品。 这已是马化腾连续第二年在内部年会上强调短剧的重要性。2025年初，马化腾首次公开谈及短剧，承认 了"短剧对长内容造成较大的冲击"，并明确坚持精品短剧战略方向，加大对短剧的投入。 短剧的崛起，悄然改变着视频行业的格局。2025年9月，红果免费短剧月活跃用户已达2.36亿，首次超 越B站，并大幅领先于优酷，快速跻身行业前四。尽管腾讯视频月活仍居第一，但后来者的迅猛追赶， 已带来真实压力。 值得注意的是，这股短剧热潮，早已溢出视频平台范畴，成为各类应用争夺用户注意力的共同选择。1 月27日，QuestMobile发布《中国互联网发展年鉴（2025-2026）》，报告显示，在互联网整体流量见顶 的背景下，2025年互联网巨头们不约而同地转向"降本增效"与"用户价值深耕"，而短剧正是提升用户停 留与黏性的有效工具。 "不仅是视频平台，淘宝、拼多多等电商平台、美团等生活服 ...

Core Viewpoint - The recent fine imposed on Pinduoduo, although seemingly minor compared to its annual revenue exceeding 100 billion, serves as a significant regulatory warning for the entire instant retail industry, highlighting the importance of tax compliance for internet platforms [2][6]. Regulatory Changes - The fine is a direct consequence of Pinduoduo's failure to comply with the newly implemented "Internet Platform Enterprises Tax Information Reporting Regulations," which came into effect in June 2025, marking a shift from traditional tax control to a data-driven approach [4][5]. - This regulation requires all internet platforms to report 12 key tax-related data points quarterly, fundamentally changing the tax responsibilities of platforms and merchants [5][6]. Industry Impact - The instant retail sector has seen explosive growth, with over 50,000 warehouses established by August 2025, but many face survival challenges due to rising operational costs and new tax compliance requirements [8][9]. - The regulatory upgrade aims to eliminate inefficient businesses that rely on tax loopholes, promoting a healthier competitive environment for those that adhere to compliance [9][10]. Compliance Challenges - Despite the new regulations, some merchants continue to seek ways to evade tax obligations, often focusing on the "500 million threshold" to maintain lower tax rates [10][11]. - The platform's control over transaction data makes it difficult for merchants to hide non-compliance, as tax authorities can easily track discrepancies [11][12]. Industry Dynamics - The intense competition among instant retail platforms has led to a cycle of price wars, pushing many merchants to operate unsustainably [12][13]. - Regulatory interventions have been made to curb this internal competition, but the effectiveness of these measures remains in question as platforms continue to prioritize profit over compliance [13][15]. Future Outlook - The recent fine against Pinduoduo is seen as a precursor to stricter enforcement of tax compliance across the industry, signaling that non-compliance will lead to more severe penalties in the future [16][17]. - The industry must adapt to these regulatory changes, as compliance is deemed essential for long-term sustainability and growth [17][18].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 记者丨董静怡 编辑丨张星 如果以"价格战"定义过去两年中国跨境电商的出海征程，那么2025年，这条赛道的关键词已经改写。 速卖通、Temu、TikTok Shop、SHEIN这四家被称为"出海四小龙"的中国跨境电商平台曾以颠覆性的成 本优势，从亚马逊手中抢夺了大量流量与市场份额。 不过，单纯的低价模式在推动规模增长效果显著，但在抗风险能力上却并不强。当全球贸易规则变化与 关税压力袭来，"四小龙"也开启了转型，强化品牌、深耕本地、提升质量。 与此同时，国际监管的审视日益严峻，从数据安全、商品合规到商业模式本身，平台面临的已不仅是市 场竞争，更是系统性的合规挑战。 在初期的价格优势之后，平台要靠什么持续留住全球消费者？ 图片来源：新华社 逆风 过去，低价一直是"四小龙"的重要标签之一。 中国超大工业体系带来的规模效应以及高效运营的供应链体系为中国B2C跨境出口电商企业带来了价廉 质优的产品，成为中国B2C跨境出口电商业务扩张的重要助力。 2024年以来，受海外通胀影响，消费者对价格的敏感程度提升，间接利好于中国跨境电商平台。平台对 于供应链 ...

记者丨董静怡 编辑丨张星 如果以"价格战"定义过去两年中国跨境电商的出海征程，那么2025年，这条赛道的关键词已 经改写。 速卖通、Temu、TikTok Shop、SHEIN这四家被称为"出海四小龙"的中国跨境电商平台曾以颠 覆性的成本优势，从亚马逊手中抢夺了大量流量与市场份额。 不过，单纯的低价模式在推动规模增长效果显著，但在抗风险能力上却并不强。 当全球贸易 规则变化与关税压力袭来，"四小龙"也开启了转型，强化品牌、深耕本地、提升质量。 与此同时，国际监管的审视日益严峻，从数据安全、商品合规到商业模式本身， 平台面临的 已不仅是市场竞争，更是系统性的合规挑战。 在初期的价格优势之后，平台要靠什么持续留住全球消费者？ 图片来源：新华社 逆风 过去，低价一直是"四小龙"的重要标签之一。 中国超大工业体系带来的规模效应以及高效运营的供应链体系为中国B2C跨境出口电商企业带 来了价廉质优的产品，成为中国B2C跨境出口电商业务扩张的重要助力。 2024年以来，受海外通胀影响，消费者对价格的敏感程度提升，间接利好于中国跨境电商平 台。平台对于供应链的强把控、充分发挥价格优势的策略愈演愈烈，延伸出了风靡跨境圈 的"托 ...