"胖改" 的核心逻辑是优化而非涨价，物美对米面油、生鲜、日用品等民生刚需品类，始终保持价格稳 定与充足供给。调改后，30 枚无抗鸡蛋仅售 13.9 元，12 瓶矿泉水低至 5.5 元，1L 装非转基因大豆豆浆 仅需 5.9 元，这些高频刚需商品的定价均低于市场平均水平。生鲜区更是诚意满满，早市大白菜 0.65 元 / 斤、西葫芦 1.85 元 / 斤，丹东久久草莓 29.8 元 / 斤，既保障新鲜度又兼顾性价比，每日新鲜配送、当 日出清的机制，让消费者买得放心、吃得安心。对比第三方价格监测数据，物美粳米、鲜猪肉、西红柿 等民生商品价格，均处于同行业低位，真正守住了百姓 "菜篮子" 的性价比底线。 核心商品：对标同质同价，品质不打折 针对消费者关注的胖东来同源商品，物美官方明确承诺："引进商品价格与胖东来保持一致"，通过深度 合作打通供应链，让消费者无需远行就能以同等价格享受优质商品。调改后门店商品结构接近胖东来 80%-90%，68 款胖东来自营商品同步上架，从烘焙点心到家居百货，品质对标、价格同源。以网红单 品为例，现制肉蛋堡、核桃满满面包等明星产品，价格与胖东来持平，却能让更多城市消费者便捷购 买，实现 ...

本报讯(记者袁传玺)1月6日，抖音电商全量上线车厘子"果径无忧"权益，同步开启为期10天的车厘子开 吃节活动(1月6日至1月15日)，以品质保障升级、供应链优化等举措，为消费者打造安心、实惠、有趣 的车厘子消费体验，助力岁末年初消费热潮。 在供应链保障方面，抖音电商持续升级履约能力，针对冬季北向运输冻损问题，在沈阳、长春等地设立 多个车厘子共享冷藏仓库，实现商品入境后直运销地保鲜，降低物流成本的同时保障新鲜度。东北地区 订单更配备专属保暖包装，从仓储到配送全链路守护车厘子品质。 作为冬季时令水果的热门之选，智利车厘子凭借红火的寓意与鲜美的口感，成为团圆餐桌与礼赠场景的 首选。据智利出口促进总局数据，2024年智利车厘子出口额超30.91亿美元，其中超九成销往中国，抖 音电商已成为其线上核心销售渠道，上一产季销售规模突破37亿元。随着2025年至2026年产季车厘子进 入批量上市期，市场供需两旺，为了更好地契合消费者品质诉求与节日消费需求，抖音电商推出此次升 级权益与营销活动。 抖音电商相关负责人表示，平台始终以消费者需求为核心，通过权益升级、供应链优化与营销创新，打 通车厘子从产地到餐桌的全链路，让用户尽享时 ...

1月6日，抖音电商全量上线车厘子"果径无忧"权益，同步开启为期10天的车厘子开吃节活动（1月6日至1月15日）， 以品质保障升级、供应链优化等举措，为消费者打造安心、实惠、有趣的车厘子消费体验，助力岁末年初消费热潮。 作为冬季时令水果的热门之选，智利车厘子凭借红火的寓意与鲜美的口感，成为团圆餐桌与礼赠场景的首选。据智利 出口促进总局数据，2024年智利车厘子出口额超30.91亿美元，其中超九成销往中国，抖音电商已成为其线上核心销售 渠道，上一产季销售规模突破37亿元。随着2025-2026产季车厘子进入批量上市期，市场供需两旺，为了更好地契合 消费者品质诉求与节日消费需求，抖音电商推出此次升级权益与营销活动。 2025年10月以来，抖音电商联合Prize、Garces Fruit等智利知名品牌，构建"一手锁供给、一手锁销售"的高效供应链， 确保桑提娜、拉宾斯、瑞吉娜、斯卡拉雷等多品种车厘子稳定供给，同时拓展澳大利亚、新西兰等地新品种，满足日 常品尝与礼赠等多元需求。 本次全量上线的"果径无忧"权益是抖音电商在车厘子品质保障上的重要升级，覆盖平台所有车厘子商家。相关负责人 表示，平台将搭建全流程品质管控体系，提 ...

作者 | 唐飞 编辑|刘景丰 新茶饮热度再起，这种热度不仅局限在新品和新口味上，更进一步传递到二级市场。 继去年8月，茶百道正式向港交所递交上市申请后，蜜雪冰城和古茗也在今年初，陆续向港交所递交上市申请。 盘古智库高级研究员江瀚认为，这两家公司都是新茶饮行业的重要参与者，其上市将进一步推动新茶饮行业的发展和竞争。此外，这也可能会引起其他新 茶饮品牌的关注和跟进，从而加剧行业的竞争。 "可以说，很快就会有新茶饮企业上市，这是毋庸置疑的事实。茶饮产业的未来充满了机遇，但也同样面临着诸多考验。品牌不仅需要在外部市场竞争中 保持敏锐洞察力，还需要在内部持续修炼内功，确保品质、创新与服务始终与消费者需求相匹配。只有这样，才能在茶饮市场中获得自己的一席之地，真 正获得长期的竞争力。"江瀚称。 外界称，2023是新茶饮的爆发年。门店数量可以直观反应这种爆发势头，头部20家新茶饮品牌门店数量已经从2022年底的78324家门店，扩张至2023年底 的103783家门店，一年内净增加32%。 高增长下，行业内卷加剧，开店抢位战激烈竞逐，餐饮供应链"控本增效"的重要作用日渐显著，更成为"万店时代"茶饮人的底气。 卷出天际，争当新 ...

2025 年底的拼多多很忙，各种应对动作也相当迅速。 在当日召开的年度股东大会上，拼多多宣布实行联席董事长制度，公司供应链核心操盘手赵佳臻获任联席董事长，与陈磊共同担任集团联席董事长兼联 席CEO（首席执行官），共同掌舵这家市值超1500亿美元的电商巨头。 选择"早退"的黄峥，无疑在推动一场组织结构+业务侧重的AB test：要保增长还是保利润。 低价心智与"反内卷"的二律背反 近期的一些列文件的出台，标志着电商平台价格成为监管的重要环节，用低价换市场的空间已经几乎被锁死。 而文件出台和人事变动几乎同时出现，确实十分巧合，拼多多想必是做好了准备。即使 GR 部门出了这样那样的情况，至少相关文件也会在公告之前拿到 手。 先聊聊《互联网平台价格行为规则》（以下简称《规定》，关于具体内容大家可以自行去看文件原文，有人认为文件对拼多多几乎没有影响，或者说实 际执行层面没有影响，这个观点很难苟同。 一份文件下来，一定是对着行业生态进行斧正，而不是朝某一家公司去的，这点毋庸置疑。而电商行业中如果对谁影响最大，会让人直觉联想到拼多 多，而实际也是拼多多。 《规定》中涉及低价的表述有很多，可以明确的一点是，监管层面要的是反内 ...

Group 1: Wind Power Market Trends - The bidding prices for wind turbine units have increased in 2024 due to several factors, including the signing of a self-discipline agreement by 12 domestic manufacturers to address unfair competition and contract issues [2] - National meetings have emphasized the need to prevent "involution" competition, leading some owners to adjust their bidding rules [2] - There is a growing emphasis on the quality and reliability of wind turbines, with more owners preferring high-quality, high-performance units, contributing to a slight increase in bidding prices this year [2] Group 2: Cost Reduction and Profitability Improvement - The company is enhancing profitability through improved R&D capabilities, product performance, and the development of competitive new products [3] - Key technical optimizations include iterative improvements in turbine parameters, load reduction in LAC systems, and the application of high-torque density gearboxes, which enhance cost competitiveness [3] - The company is also focusing on self-research of core components, such as blades, to improve gross margins [3] Group 3: International Business Expansion - The company’s international competitiveness is increasing, with a more than 100% year-on-year growth in overseas bidding capacity in 2024, marking two consecutive years of doubling growth [3] - The company has made breakthroughs in markets such as the Middle East and North Africa, securing project orders for the first time [3] - Future plans include accelerating global strategic layout and expanding overseas client acquisition to enhance order scale and create new profit growth points [3] Group 4: Offshore Wind Power Development - The company is focusing on the offshore wind power market, aiming to achieve industry leadership and establish a strong brand advantage [4] - Investments have been made in offshore wind power assembly bases in Dalian and Wenzhou, creating a dual-base layout [4] - The company is actively pursuing near and far offshore projects in Zhejiang and is monitoring deep-sea markets in Dalian and Guangdong [4] Group 5: Future Growth Drivers - Key growth drivers for the company include ongoing policy support for the renewable energy sector, technological advancements enhancing the strategic position of wind power, rapid expansion in domestic and international markets, increasing industry recognition, and growth in other business segments [4]

（文章来源：第一财经） 菜鸟联手天猫超市持续加码淘宝闪购服务。预计到1月底，菜鸟通过在全国多城新开、增开天猫超市闪 购仓，助力天猫超市在全国31城淘宝闪购端服务实现全面提速，最快4小时达。 据介绍，菜鸟与天猫超市联合优化供应链，通过"大仓+小仓"的多层次仓网布局，提升覆盖半径，仓库 直连派送站，配送时效提升50%以上。接下来除了加快闪购仓开城节奏，也会在多个城市增开闪购仓， 扩大闪购仓服务范围。 ...

面向未来，日照港将依托山东港口集装箱一体化运营优势，持续深化与口岸单位的监管协同和服务创 新，完善贯通内陆、联通全球的物流网络，提升全程供应链组织效率，为更多企业构建高效、便捷、可 靠的出海通道。 "我们的货物实现了快速验放、及时装船，物流周期显著压缩。"一位客户说道。通过全链条精细组织与 流程优化，该模式最终实现综合时效提升15%、综合成本节省20%的双重突破，以实打实的服务成效打 消客户顾虑。 今年以来，日照港以服务本地产业出口为重点，已累计为区域内轻工制品、日用百货等十余家企业提供 定制化物流解决方案。通过持续深化口岸协作、优化跨港区转运流程，在玩具、家居用品等货类出口方 面形成稳定服务能力，进一步巩固了日照港在外贸物流体系中的支撑作用。 日前，一批装有宠物零食的集装箱从山东港口日照港（600017）启航，运往海外国家。这批生活物资的 高效出海，是日照港外贸支线出口业务较计划提前41天超额完成全年任务的生动缩影，也标志着日照港 在保障年末国际物流畅通、服务消费品跨境供应方面取得新进展。 面对国外消费旺季，日照港提前部署，持续优化"内陆工厂—日照港—枢纽港"的全链条物流路径。依托 山东港口集装箱一体化运营 ...

Summary of Jiamaojiu Group Conference Call Company Overview - Jiamaojiu Group has closed 132 underperforming direct-operated stores, currently operating a total of 510 stores, including 22 franchise stores and 33 located in Hong Kong, Macau, and overseas, aiming to optimize store structure [2][3] Key Points and Arguments New Store Model Implementation - The company has launched the 5.0 Fresh Model for its Tai Er brand, focusing on family dining options and upgraded environments and services, with over 160 new model stores opened [2][3] - New model stores have seen a 10% year-on-year increase in revenue and over 15% growth in dine-in revenue [2][5] - The average customer spending has increased by 2-3 RMB due to menu adjustments and improved service, attracting more customers [2][6] Cost Management and Profitability - Despite an increase in workforce by 3-4 employees per new model store, the company has effectively controlled labor costs through training and supply chain optimization [7][9] - The company aims for a gross margin of 64%, with labor costs at 20%-21% and rent below 10%, targeting an operating profit margin of over 18% by 2027 [9][10] - The company is optimistic about future profit recovery, expecting to achieve a stable state for new model stores by 2027 [9][10] Sales Performance and Market Outlook - Same-store sales turned positive starting from the last week of November 2025, with expectations for December to show significant recovery [12] - The new model stores have outperformed traditional stores, particularly in first-tier cities like Beijing and Shanghai, with a 15% increase in dine-in sales compared to a 10% decline in traditional models [15] Future Expansion Plans - The company plans to complete the renovation of over 200 stores by mid-2026, with no specific annual opening targets but focusing on locations with a two-year payback period [13][25] - The company is exploring new brand opportunities, including a new barbecue brand "Zhao Zhao Na Bian," with plans to open its first store in Guangzhou [21] Financial Performance Expectations - The company anticipates a more favorable financial report for 2026, with all unprofitable stores closed by the end of 2025 and a significant reduction in impairment losses [23][24] - The dividend payout ratio is expected to remain at a minimum of 40%, with adjustments based on actual performance [27] Additional Important Insights - The company is focusing on using fresh ingredients sourced directly from suppliers to balance procurement costs and enhance product quality [10] - The transition to a fresh model has not negatively impacted store efficiency; instead, it has improved overall store performance [17] - The company has established central kitchens in Guangzhou, Shanghai, and Chongqing, with further expansions planned [19] This summary encapsulates the key insights from Jiamaojiu Group's conference call, highlighting their strategic adjustments, financial expectations, and market outlook.

Core Viewpoint - On December 16, 2023, Jia Mei Food Packaging (Chuzhou) Co., Ltd. announced a change in control as its controlling shareholder, China Food Packaging Co., Ltd., signed a share transfer agreement with Suzhou Zhuyue Hongzhi Technology Development Partnership (Limited Partnership) [1] Group 1: Share Transfer and Control Change - The share transfer agreement indicates that Zhuyue Hongzhi will acquire 279 million unrestricted shares from China Food Packaging at a price of 4.45 yuan per share, representing 29.90% of the total share capital [2] - Following the completion of the share transfer, Zhuyue Hongzhi will become the controlling shareholder, with Yu Hao, the founder of Chasing Technology, becoming the actual controller of Jia Mei Packaging [1][2] Group 2: Business Overview - Jia Mei Packaging operates as a full-chain service provider for beverage brands, offering research, design, production, and sales of various beverage packaging containers, along with beverage formula development and marketing services [2] - The company currently owns 17 subsidiaries, covering multiple sectors including tin printing, three-piece cans, two-piece cans, and various packaging materials for beverage filling [2] Group 3: Further Share Acquisition - Zhuyue Hongzhi plans to further increase its stake through a partial tender offer, aiming to acquire an additional 233 million shares, which accounts for 25.00% of the total share capital [3] - The tender offer includes commitments from existing shareholders to accept the offer for a total of 1.03 billion shares (11.02% of total share capital) from China Food Packaging, 890 million shares (9.53%) from Fuxin Investment, and 230 million shares (2.49%) from Zhongkai Investment [3]