Core Insights - The 2025 618 shopping festival showcases three major trends: the rise of "instant retail," the impact of policies and live streaming on consumer segmentation, and the integration of AI across the e-commerce value chain [4][5] Group 1: Instant Retail - "Instant retail" is experiencing explosive growth across all categories, transforming consumption efficiency and establishing "everything delivered to home" as the new norm. Daily orders for JD's delivery service have surpassed 25 million, covering all counties nationwide. The growth is attributed to the maturity of offline stores and logistics supply chains, with front warehouses and drone delivery reducing costs by 15% [4] Group 2: Policy and Consumer Segmentation - Policies and live streaming are driving consumer segmentation, leading to the rise of domestic brands and the lower-tier market. The combination of old-for-new subsidies and platform incentives has stimulated both essential and quality consumption, with JD's home appliance sales increasing by 161%. Domestic brands account for over 60% of Tmall's "billion-dollar club," and the search volume for "new Chinese style" products has surged by 270%. JD's county-level orders have grown by 130%, with live streaming sales accounting for over 70% of GMV [4] Group 3: AI Integration - AI is deeply transforming the e-commerce supply chain, enabling sustainable operations rather than short-term GMV competition. For instance, Taobao merchants have generated 1.5 million video materials using AI tools, while JD's digital human live streaming costs only one-tenth of that of real people, with a 30% increase in conversion rates. Orders for JD's "delivery and installation" service have risen by 300%, and front warehouse costs have decreased by 20%. AI customer interactions have exceeded one million [4][5]

Core Viewpoint - The financial technology companies listed in the US and Hong Kong have shown stable performance in 2024, with various companies achieving growth in revenue and net profit, driven by digital transformation in the financial industry [2][3]. Financial Performance - Xinyi Technology achieved a revenue of 13.07 billion yuan, a year-on-year increase of 4.1%, with a net profit of 2.39 billion yuan, remaining stable [2]. - Lexin reported a revenue of 14.204 billion yuan, up 8.78% year-on-year, and a net profit of 1.1 billion yuan, an increase of 3.24% [2]. - Xiaoying Technology's total net income reached 5.8718 billion yuan, growing by 21.95%, with a net profit of 1.5399 billion yuan, up 29.75% [2]. - Qifu Technology achieved a revenue of 17.166 billion yuan, a 5.38% increase, and a net profit of 6.2 billion yuan, growing by 46% [2]. - Jiayin Technology reported a revenue of 5.801 billion yuan and a net profit of 1.057 billion yuan, with a loan matching transaction volume exceeding 100 billion yuan, up 14.4% [2]. International Business Expansion - Financial companies are actively expanding their international business, with Fintech One connecting with 197 clients across 20 countries and regions [4]. - Xinyi Technology has provided credit technology services to 7 million users internationally, with an annual transaction volume exceeding 10 billion yuan, a 27.8% increase [4]. AI Integration and Technological Advancements - Qifu Technology is advancing its "AI+" strategy, focusing resources on AI applications in credit scenarios [4]. - Jiayin Technology is enhancing AI technology in customer service, risk control, and marketing, achieving full-chain intelligent and digital upgrades [4]. - Xinyi Technology is increasing its investment in AI research and development, integrating AI deeply into business processes [4]. - Lexin's proprietary AI model "Singularity" is being applied in efficiency improvement and business empowerment [5]. - Fintech One is enhancing product intelligence and convenience through AI applications, improving sales and marketing quality and efficiency [5]. Overall Industry Outlook - The financial technology companies listed in the US and Hong Kong are demonstrating strong resilience in their performance, with a dual development pattern of "technology-driven + globalization" [3][5].