盒马谋变：创始元老全退，阿里掌控加深

Core Insights - Hema has not yet welcomed strategic investors, and aligning closely with Alibaba Group appears to be the best development strategy at present [1][3] - The departure of key figures, including the head of public affairs, indicates a complete exit of the founding team, further tightening Hema's connection with Alibaba [2][3] - Hema achieved annual profitability for the first time in March 2024, attributed to the new CEO's contributions, but the relationship with Alibaba remains complex [3][4] Group 1: Strengthening Ties with Alibaba Group - On August 4, Hema members noticed that the 88VIP membership now includes 90 days of Hema membership, leading to reduced benefits for existing Hema members [4][5] - The integration of Hema membership with 88VIP reflects a cautious approach to balancing interests between both platforms, indicating a transitional phase from the old leadership to the new [4][5] - Following the departure of key personnel, Hema's public relations and government relations are now managed by Alibaba, likely in response to recent food safety issues [5][6] Group 2: Future of Membership System - The new CEO has shifted focus from the costly X membership stores to more cost-effective community Hema NB stores, indicating a strategic pivot [7][8] - The number of X membership stores has drastically reduced, with only one remaining store expected to close by the end of August 2023 [7][8] - Hema's membership model is evolving, with current offerings primarily focused on discounts rather than exclusive purchasing rights, raising questions about the sustainability of the membership fees [9][10]