Sou Hu Cai Jing·2025-09-17 08:32Core Viewpoint - JD.com will officially cease operations on September 30, indicating the end of the long-standing "WeChat - JD Shopping" entry point, while Alibaba is negotiating terms with WeChat to integrate Taobao into the WeChat ecosystem through mini-programs, suggesting a shift in Tencent's resource allocation strategy [1][2] Group 1 - JD.com has lost its privileged entry in WeChat, transitioning from a special partnership to a standard cooperation, which diminishes its previous exclusive advantages [2] - Tencent's strategy appears to be moving towards a more flexible approach, allowing multiple platforms like Taobao, Pinduoduo, and JD.com to compete for traffic through mini-programs [2] - The adjustment indicates Tencent's recognition of its limitations in the e-commerce space, as past attempts to establish a strong e-commerce presence have not yielded significant results [1][2] Group 2 - Tencent may be exploring a new e-commerce model in the AI era, focusing on leveraging social connections and mini-program ecosystems rather than relying on self-operated platforms or subsidies [2] - The success of Taobao's integration into WeChat will depend on the seamless connection between WeChat's social ecosystem and Taobao's live-streaming e-commerce capabilities [2] - This strategic shift suggests that Tencent is no longer placing all its bets on JD.com, indicating a broader distribution of traffic resources among various e-commerce platforms [2]