以供应链思维赋能线下市场发展，集团立足汉口北国际贸易城商贸物流优势，搭建了鲜花链、海鲜链、调味品链、汽车链、纺织服装链、咖啡链等现代化供 应链体系，并以文商旅融合模式打造新业态新消费场景，推动市场繁荣发展，2024年线上线下总交易额超2000亿元；以数智化服务推动产业升级，旗下平台 分别基于各自行业痛点、难点，推出了甘蔗智能农业管理系统、再生塑料云工厂、卓钢云SaaS服务系统等数字化解决方案，成功打通原料生产/种植、加 工、销售等多个供应链环节，帮助企业提升人效、优化运营管理水平，实现绿色可持续发展。 据悉，全国供应链服务企业评估认证由中国物流与采购联合会依据《供应链服务企业分类与评估指标》开展，从企业规模、服务能力、绿色服务水平、系统 化能力四大维度进行综合评审，其中5A级为最高等级。目前，国内仅有36家企业取得该认证。 立足供应链，重塑产业链，提升价值链。近年来，卓尔智联始终坚守"智联天下生意 服务创造价值"的商业理念，聚焦实体经济需求构建全链路服务能力。 围绕农业、黑色金属、化工塑料、海鲜渔品、纺织服装等产业，集团搭建了中农网、卓钢链、化塑汇、CIC、海上鲜、华纺链等智能交易平台，同时打造卓 尔云仓、卓 ...

格隆汇9月24日丨喜悦智行(301198.SZ)在互动平台表示，公司为汽车及汽车零部件制造、家电制造、果 蔬生鲜、快递物流等众多行业的客户提供可循环包装产品的定制设计、生产制造、性能测试、租赁及物 流运输、仓储管理等贯穿全过程的供应链服务。暂无中欧贸易航运相关业务。 ...

Group 1 - Alibaba's 1688 platform has opened its 23rd offline selection center in Hangzhou, focusing on showcasing new and popular products from the Yangtze River Delta and other industrial belts [1] - The Hangzhou selection center operates under a "four-in-one" model, involving local government support, industrial chain enterprises for product selection and operations, factory exhibitions, and platform coordination for pricing and marketing [1] - The center aims to provide a one-stop selection and distribution service for buyers, including competitive pricing and standardized fulfillment services [1] Group 2 - The selection centers are strategically located in the Yangtze River Delta and Pearl River Delta regions, based on factory concentration and market demand [2] - By 2025, the company plans to establish over 30 selection centers across 120 core industrial belts and 38 key cities nationwide [2]

9月16日，首场"京东品酒会"在北京国际饭店举办，京东集团创始人、董事局主席刘强东现 身活动现场，除了亲自下厨炒菜，还分享了京东酒旅、外卖业务的最新思考。 据他透露， 不想把酒店再拉到价格战，让酒店从业者把价格进一步降低，卷得服务品质下降，利润空间 受到挤压，整个生态受到破坏。京东在酒店行业依然会创新，接下来还将公布一个全新的酒 店发展计划。 受过去两年酒店市场供给过快增加，叠加各种宏观因素、商务出行以及消费者支付意愿的负面影响，今 年以来，国内主要酒店企业的经营指标（日均房价、入住率、平均可出租客房收入）同比持续下降，随 着各品牌开店步伐加快，酒店供给端的同质化问题也日益显著，行业竞争压力大。 6月18日，京东发布《致全体酒店经营者的一封公开信》，正式宣布进军酒旅市场。信中提到，鉴于旅 游市场日益繁荣，同步催生出了更多元的需求，京东希望通过新通路的方式为酒店行业提供供应链服 务，优化供应链成本。刘强东在6月的一次内部分享会上首谈入局酒旅时曾提及，"酒店背后也是供应 链，前端消费者是住酒店、点餐。酒店背后有庞大的供应链，而且很杂乱，成本很高。" 刘强东谈到京东入局餐饮的缘起，是自己特别喜欢做菜，对餐饮也一直很 ...

今年618期间，京东旅行发布了《致全体酒店经营者的一封公开信》，正式进军酒旅行业。其中提出酒店商家参与"京东酒店 PLUS会员计划"，将享受最高三年0佣金。不久前，京东与锦江酒店正式签署战略合作协议，围绕酒旅服务、供应链协同、餐 饮消费场景创新领域全面深化合作。现场上海一家格林豪泰酒店的负责人告诉第一财经记者，与京东0佣金合作后，目前酒店 有50%的客流来自京东。 继杀入外卖市场后，京东开始发力酒旅业务了。 9月16日晚，在京东的一场用户见面会上，京东集团创始人、董事局主席刘强东谈起自己几天前在香港见到了几家大型酒店集 团的一把手，对方向他表示，当下酒店业普遍有些焦虑，陷入恶性竞争。此前因平台价格战，酒店从业者被迫进一步降价，导 致酒店品质下降、利润空间挤压，整个生态被破坏。 "我们不想把酒店再拉到价格战，让酒店从业者把价格进一步降低，在三家平台中做选择。"刘强东说，当利润空间受到挤压， 生态会受到破坏，未来京东将通过全新模式推动酒店业发展，预计将在年底前公布。 来源：第一财经、智通财经 （编辑：晓慧） 为何杀入酒旅？刘强东称京东集团所有的业务围绕着"供应链"展开。他指出，酒店、餐饮背后是供应链，前端是消费者 ...

Core Insights - JD.com is expanding into the hotel and travel industry following its entry into the food delivery market, aiming to innovate and improve the supply chain for hotels [2][4] - The company plans to introduce a new model for hotel operations by the end of the year, focusing on avoiding price wars that could harm the industry [2][4] - JD.com has launched a "JD Hotel PLUS Membership Program" offering up to three years of zero commission for participating hotels, which has already resulted in significant customer traffic for partnered hotels [4] Company Strategy - JD.com emphasizes that its business revolves around supply chain optimization, particularly in the hotel and restaurant sectors, which are characterized by high costs and inefficiencies [4][5] - The company draws parallels between its current hotel strategy and its past experience in the home appliance sector, where it successfully entered a market that was initially met with skepticism [4][5] - JD.com aims to create a win-win situation in the industry by advocating for fair competition and sustainable profit distribution among all stakeholders [5] Market Context - The hotel industry is currently facing challenges such as low profit margins and the prevalence of "ghost restaurants," which can compromise food safety [5] - JD.com’s approach includes a commitment to sharing profits with partners, retaining only a portion for itself to ensure sustainable growth and collaboration [5]

Core Viewpoint - JD.com is expanding into the hotel and travel industry, aiming to optimize supply chain costs and improve profitability for hotel operators, while avoiding price wars that could harm the ecosystem [3][5]. Group 1: Business Strategy - JD.com has launched the "JD Hotel PLUS Membership Program," offering hotel partners up to three years of zero commission [5]. - A strategic cooperation agreement has been signed with Jinjiang Hotels to enhance collaboration in hotel services, supply chain coordination, and innovation in dining consumption scenarios [5]. - JD.com aims to leverage its supply chain expertise to reduce operational costs in the hotel industry, similar to its previous success in the home appliance sector [5][6]. Group 2: Market Insights - Liu Qiangdong, the founder of JD.com, highlighted the high operational costs and chaotic supply chains in the hotel and restaurant sectors, which often lead to low profit margins for operators [5][6]. - The hotel industry is experiencing significant customer traffic from JD.com, with one hotel reporting that 50% of its guests come from JD's platform after entering a zero-commission partnership [5]. Group 3: Industry Challenges - Liu Qiangdong expressed concerns about the downward pressure on pricing in the industry, which could lead to a situation where all players in the supply chain are unprofitable [6][7]. - He emphasized the need for healthy competition that focuses on quality and fair pricing, rather than a race to the bottom that harms all stakeholders [6][7].

今年618期间，京东旅行发布了《致全体酒店经营者的一封公开信》，正式进军酒旅行业。其中提出酒 店商家参与"京东酒店PLUS会员计划"，将享受最高三年0佣金。不久前，京东与锦江酒店正式签署战略 合作协议，围绕酒旅服务、供应链协同、餐饮消费场景创新领域全面深化合作。现场上海一家格林豪泰 酒店的负责人告诉第一财经记者，与京东0佣金合作后，目前酒店有50%的客流来自京东。 为何杀入酒旅？刘强东称京东集团所有的业务围绕着"供应链"展开。他指出，酒店、餐饮背后是供应 链，前端是消费者住酒店、点餐，背后庞大的供应链其实很杂乱，成本很高。京东希望通过新模式为酒 店行业提供供应链服务，优化供应链成本，推动酒店业经营成本下降。 他以过去京东做大家电类比，2006年京东上线大家电业务时，当时几乎所有投资人都持反对意见，认为 亚马逊在美国也未能成功在网上销售大家电。但他认为当时家电零售商的毛利率高达17%-18%，而品牌 商如美的、格力、海尔等的净利润仅约1个百分点。 继杀入外卖市场后，京东开始发力酒旅业务了。 9月16日晚，在京东的一场用户见面会上，京东集团创始人、董事局主席刘强东谈起自己几天前在香港 见到了几家大型酒店集团的一把 ...

Core Insights - Hong Kong plays an irreplaceable role in supporting mainland enterprises' internationalization through its comprehensive service trade system, which includes finance, law, accounting, logistics, and consulting [2][6] - The establishment of an international mediation center in Hong Kong enhances its legal service capabilities, providing a reliable framework for dispute resolution for companies venturing abroad [3][6] - Challenges faced by mainland enterprises in international markets include cultural adaptation, policy compliance, talent shortages, and the need for a global management system, with supply chain stability being crucial for overcoming these challenges [4][5] Group 1: Hong Kong's Role in Supporting Enterprises - Hong Kong's service trade framework connects mainland enterprises to global markets, offering multi-currency financing, cross-border fund management, and risk management services [2] - The region's logistics infrastructure ensures rapid global goods movement, supporting stable supply chain operations for enterprises [2] - Legal, accounting, and consulting services in Hong Kong provide comprehensive support for compliance, tax planning, and risk assessment, helping enterprises mitigate overseas market risks [2] Group 2: Legal and Supply Chain Support - The international mediation center in Hong Kong, supported by a common law system and strategic backing from the central government, positions the region as a key player in legal services and dispute resolution [3] - Companies are advised to utilize professional legal services for risk prevention and to conduct thorough due diligence before entering international markets [3] - Deloitte's experience in assisting a mainland electronics manufacturer in navigating European market regulations exemplifies the importance of compliance and supply chain localization [4] Group 3: Challenges and Strategies for Enterprises - Differences in operational strategies between state-owned and private enterprises highlight the need for both to focus on global supply chain integration and local market adaptation [5] - Engineering firms face challenges related to standardization and contract management in international projects, necessitating a focus on local compliance and long-term strategic investment [5] - Hong Kong is recommended as a strategic base for enterprises to leverage its advantages and collaborate with other cities in the Greater Bay Area to optimize supply chain resources [5][6]

Investment Rating - The report assigns a "Buy" rating for the company, with a target price of 81.49 CNY based on a target PE of 16 times [6]. Core Insights - The company's main business prices are at historical lows, which has negatively impacted profit growth. However, prices are expected to recover with economic recovery and stabilization in the chemical industry, potentially accelerating profit growth [1][49]. - The company is actively expanding its business volume through product diversification, regional expansion, and market share increase, leading to sustained growth in freight forwarding, chemical sales, shipping, and warehousing [2]. - Profitability is expected to increase, and valuation may rise as profit growth accelerates and risk preferences improve among investors [3]. Summary by Sections 1. Company Overview - The company is a leading provider of integrated supply chain services in China, focusing on freight forwarding, warehousing, and transportation, with a strong emphasis on chemical distribution [15][29]. 2. Price Recovery Potential - Current prices related to the company's main business are at historical lows, affecting profit growth. Future price recovery is anticipated due to economic recovery and stabilization in the chemical sector [1][49]. 3. Business Growth Strategies - The company is expanding its product categories, regions, and market share, with significant growth expected in freight forwarding and chemical distribution [2][41]. 4. Profitability and Valuation - The company is projected to achieve net profits of 660.95 million CNY, 805.34 million CNY, and 932.98 million CNY for the years 2025, 2026, and 2027 respectively, indicating strong profit growth [4][5]. - The company's valuation is expected to rise as profit growth accelerates and market risk preferences improve [3][44]. 5. Financial Data - The company’s revenue is projected to grow from 9,752.55 million CNY in 2023 to 16,738.82 million CNY in 2027, with a CAGR of 39% from 2015 to 2024 [5][44].