该行认为，近期东方甄选GMV边际改善印证此逻辑，一方面公司持续打造自营品类，截至2024年11月 推出600款SKU，GMV占比达37%；2025年新品超400款，全网销量2.1亿单。非食品品类突破显著，如 卫生巾48小时售罄18万单。同时报告期内公司付费会员数达22.83万，APP"种草计划"创新流量运营。 东方甄选(01797)今早再度异动拉升，早盘一度涨超12%。值得注意的是，该股自7月初至今股价累计飙 升逾1.8倍，截至发稿，涨7.9%，报34.16港元，成交额10.16亿港元。 消息面上，国信证券指出，当前消费市场供给多元、信息透明、需求理性，竞争中具备高性价比产品与 成熟会员体系的企业优势凸显。一方面供应链是核心基础，成熟的供应链保障高性价比产品持续输出， 另一方面，公域流量红利消退推高获客成本，私域会员体系通过转化低频用户为高粘性客群，摊薄获客 成本并挖掘用户全生命周期价值。 ...

智通财经APP获悉，东方甄选(01797)今早再度异动拉升，早盘一度涨超12%。值得注意的是，该股自7 月初至今股价累计飙升逾1.8倍，截至发稿，涨7.9%，报34.16港元，成交额10.16亿港元。 该行认为，近期东方甄选GMV边际改善印证此逻辑，一方面公司持续打造自营品类，截至2024年11月 推出600款SKU，GMV占比达37%；2025年新品超400款，全网销量2.1亿单。非食品品类突破显著，如 卫生巾48小时售罄18万单。同时报告期内公司付费会员数达22.83万，APP"种草计划"创新流量运营。 消息面上，国信证券指出，当前消费市场供给多元、信息透明、需求理性，竞争中具备高性价比产品与 成熟会员体系的企业优势凸显。一方面供应链是核心基础，成熟的供应链保障高性价比产品持续输出， 另一方面，公域流量红利消退推高获客成本，私域会员体系通过转化低频用户为高粘性客群，摊薄获客 成本并挖掘用户全生命周期价值。 ...

声明 来源：，转载的目的在于传递更多信息及分享，并不意味着证实其真实性，也不构成其他建议。仅提供交流平台，不为其版权负责。如涉及侵权，请联系 我们及时修改或删除。本文编辑：微明 《财富》（中文版）自2011年推出"中国40位40岁以下的商界精英"榜单，目的是找到当下中国最具影响力的年轻领导者，也体现在对中国产业升级脉络的 同步记录，成为观测中国商业生态演变的"风向标"。 | 14 11-1 79 11 | | 深 | F | 杭 | 香 | 苏 | 重 | mit | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 京 | न्मी | 海 | | 港 | | 原 | 島 | 兴 | H | 覧 | 计 | | 人工智能 | 4 | 3 | 2 | 2 | | | | | 1 | | | 12 | | 机器人 | 2 | 2 | 7 | 1 | | | | | | | | 6 | | 医疗健康 | | 1 | 7 | 1 | | | | 1 | | 1 | | 5 | | 智 ...

Core Insights - The establishment of Bazhong Logistics Group marks a new phase in the development of the modern logistics industry in the northeastern revolutionary area of Sichuan, focusing on intensive, intelligent, and green development [1] Group Focus Areas - The company will concentrate on five key tasks: - Building a comprehensive smart logistics network - Connecting freight special lines as major arteries - Developing new energy as a green engine - Constructing a full supply chain - Deepening collaboration among cities and counties as a community [1]

Core Points - The third China International Supply Chain Promotion Expo opened in Beijing on July 16, themed "Linking the World, Creating the Future" [1] - The expo is a national-level event focused on supply chains, held annually starting from 2023, with this year's event taking place in summer for the first time [1] - The exhibitors at the expo represent 75 countries, regions, and international organizations, with foreign exhibitors accounting for 35%, an increase of three percentage points from the previous year [1] - The number of U.S. participating companies increased by 15% compared to the last edition, maintaining the highest number of foreign exhibitors [1] - Despite attempts by some countries to decouple from China and politicize supply chains, the participation of numerous foreign companies in the expo indicates that decoupling is not a viable path for business development [1] Industry Insights - The expo highlights the importance of supply chains, encompassing all stages from raw materials to customer service, showcasing the interconnectedness of global trade [1] - The participation of international exhibitors reflects a continued interest in engaging with the Chinese market, countering narratives of supply chain decoupling [1] - The event serves as a platform for promoting global supply chain collaboration and innovation, reinforcing China's role in the global supply chain ecosystem [1]

在当天举行的第四届链博会参展签约仪式上，霍尼韦尔、GE医疗、西门子、康宁、住友电工、中兴通 讯、阿里巴巴、赛力斯、稳健医疗等102家中外企业和机构签署参展意向，比去年现场签约数量增加 50%。 【纠错】 【责任编辑:王佳宁】 李兴乾介绍，本届链博会，参展的美国企业和机构数量比上届增长15%，继续位列境外参展商数量之 首。 中国贸促会产业促进部部长杨晓军表示，本届链博会参展商综合满意度达到95%，很多参展商提出明年 希望扩大规模，携手全球更多的供应商和客户前来参展。 新华社北京7月20日电（记者邹多为、熊琳）"硬核"展会收获"盛夏果实"！第三届中国国际供应链促进 博览会20日在北京闭幕。记者从闭幕新闻发布会上获悉，本届链博会中外参展企业和机构达到1200家， 参展商与4.2万家上下游企业建立合作联系。据不完全统计，现场共签署合作协议、达成合作意向超过 6000项。 "本届链博会层次更高、人气更旺、交流更广、成果更实。"中国贸促会副会长李兴乾说，多国政要、40 多位世界500强跨国企业领导人以及国际组织主要负责人专程参会，172个境外团组观展参会，是上届的 2.2倍，线上线下观众人数超过21万人次，比上届增长5% ...

Group 1 - The third Multinational Corporation Leaders Qingdao Summit showcased significant foreign investment confidence, with 186 Fortune Global 500 companies and 290 industry leaders participating, resulting in 99 key foreign projects signed with a total investment of $15.6 billion, a 31.4% increase from the previous summit [1] - Major multinational companies such as AstraZeneca, Lloyds, Mitsui & Co., and ZF Friedrichshafen announced new investment plans during the summit, focusing on sectors like new-generation information technology, new energy materials, high-end equipment, and advanced chemicals [2] - The resilience of the Chinese economy has bolstered foreign investment confidence, with China’s GDP accounting for 18% of the global total and 399 Chinese companies listed in the latest Forbes Global 2000, indicating a rising trend [3] Group 2 - China is enhancing its business environment by streamlining market access, promoting fair competition, and improving trade and investment liberalization, which supports multinational companies in their investment and development in China [4] - The Ministry of Commerce is actively revising the encouraged foreign investment industry catalog and promoting foreign investment in manufacturing and service sectors, particularly in central and northeastern regions [4] - The evolving global supply chain dynamics present new opportunities for multinational companies in China, driven by the country's vast market, complete industrial chain capabilities, and improving business environment [5] Group 3 - Companies like Air Products and Dow are increasing their investments in China, with Air Products emphasizing the importance of China's ongoing opening-up policies for their market expansion [3][5] - Qualcomm is optimistic about the digital economy in China, highlighting the successful deployment of 5G technology as a significant opportunity for collaboration [5][6] - Jaguar Land Rover is supporting global suppliers to establish local parts factories in China, indicating a trend towards localization and deeper collaboration with domestic suppliers [6]

Core Insights - JD.com has launched the innovative "Qixian Meishi MALL," a 2,300 square meter food complex that attracts over 20,000 daily visitors, comparable to larger shopping centers [1] - The MALL features 30 dining brands, including traditional Chinese brands and trendy snacks, and aims to enhance the restaurant industry's supply chain efficiency [1][12] - JD.com emphasizes a "quality dine-in + quality takeout" model, ensuring high standards through live kitchen broadcasts and a dual evaluation system for both dine-in and delivery services [2][4] Company Developments - The MALL has successfully transformed brands like Coffee Bear and Leshou Yufang from B2B suppliers to consumer-facing retail brands, achieving significant sales growth [5][6] - Coffee Bear has reached an average daily sales of 300 cups, with monthly sales exceeding twice that of leading coffee chains [5] - Leshou Yufang has seen a sales increase of 2-3 times since opening, selling 1,800 ducks in a week, which is equivalent to a month's sales at other locations [6][7] Industry Trends - The MALL has become a new landmark in Harbin, driving innovation among participating brands, such as the launch of the popular "Erba Sauce Milk Tea" by Liu Biju [7] - Brands are adapting to consumer preferences by optimizing their offerings and reducing operational costs, with some reducing their store sizes and menu prices significantly [8][9] - The collaboration with JD.com allows brands to leverage advanced supply chain solutions, reducing initial investment costs from 3 million to 200,000 yuan [11][12] Supply Chain Strategy - JD.com focuses on enhancing supply chain efficiency, which is a core advantage of the company, by providing logistical support and reducing costs for restaurant partners [13][14] - The MALL's model aims to create a win-win situation for merchants, consumers, and delivery personnel by optimizing the supply chain and improving service quality [12][14] - The integration of digital technology in the supply chain is expected to enhance food preparation and delivery efficiency, contributing to the overall success of the MALL [14]

Core Insights - JD.com has launched a new food delivery service, JD Takeout, which has gained significant traction since its inception on March 1, 2023, with a zero-commission model and employee benefits attracting many merchants [3][11] - The Seven Fresh Food MALL, a hybrid of offline dining and online delivery, opened on June 18, 2023, and has quickly become a popular destination, generating over 20,000 daily foot traffic and tripling its growth [3][8] - The integration of quality dining and delivery services at Seven Fresh Food MALL has established a new standard in the restaurant industry, focusing on supply chain innovation and cost reduction for merchants [4][13] Group 1: Business Model and Strategy - The Seven Fresh Food MALL combines over 30 dining brands, including traditional and trendy options, creating a unique culinary experience that appeals to both locals and tourists [3][4] - Merchants at the MALL benefit from JD's supply chain capabilities, which have significantly reduced their operational costs, allowing them to focus on quality and customer experience [11][12] - The MALL's model encourages cross-store ordering, enhancing customer convenience and increasing overall sales for participating brands [5][9] Group 2: Merchant Success Stories - Coffee Bear, a brand under the Microcosm Group, has successfully transitioned from B2B to B2C, achieving an average daily sales of 300 cups, which is double the sales of leading coffee chains [5][6] - Le Shou Yufang, a duck brand, reported a sales increase of 2-3 times after joining the MALL, selling 1,800 ducks in a week, equivalent to a month's sales at other locations [6][8] - The MALL has facilitated the launch of new products, such as the popular Erba Sauce Milk Tea, which has become a local sensation, driving additional sales for the brand [8][9] Group 3: Supply Chain and Operational Efficiency - JD's supply chain has enabled merchants to reduce their initial investment from 3 million to 200,000 yuan, allowing for a more agile business model [11][12] - The integration of real-time kitchen streaming and a dual evaluation system enhances transparency and quality control for both dine-in and delivery services [4][5] - The MALL's operational model has led to a significant increase in efficiency, with some brands reporting sales growth of 3-5 times after adopting a smaller footprint and streamlined processes [9][11]

Trade Policy & Tariffs - The US government announced a 100% tariff on all imported products containing semiconductors, with exemptions for companies that have already or explicitly committed to transferring production to the US [1] - Companies building or in the process of building factories in the US will be exempt from the semiconductor tariff [1] - Apple is expected to be largely unaffected by tariffs imposed on India [1] Investment & Production - Apple CEO confirmed an additional $100 billion investment in the US, increasing the total investment to $600 billion over the next four years [1] - Apple will significantly increase spending on its US iPhone supply chain [1] - Apple plans to build the world's largest and most advanced [1] Supply Chain Strategy - Apple is committed to optimizing its supply chain and will "do more in the US" [1]