30日午间，京东发言人官微发布《关于京东稳定币产品及业务合作不实信息的严正声明》。声明称，近 期关注到某些企业发布有关和京东币链展开合作的信息，存在失实情况，误导了行业和公众舆论。请用户 注意甄别，警惕"荐股"类骗局，避免财产损失。同时，再次提醒公众，目前京东币链科技并没有开始发行 稳定币，也没有设立任何相关社区，目前所有获取京东稳定币的信息均涉嫌欺诈。 据介绍，京东稳定币是一种基于公链并与港元（HKD）或美元（USD）等法币1：1挂钩的稳定币。第一 阶段暂定发行的是港元和美元锚定的稳定币，具体情况基于监管及市场需求而调整。京东稳定币定位不局 限于服务京东自身生态，而是致力于为全球的企业及个人提供更高效、更经济、更安全的支付基础设施。 京东方面还介绍，"在跨境支付场景中，我们具备速度快的特点，交易速度从天缩短到分钟、甚至是秒 级；其次是成本低，减少了中间环节和交易费用，可以节省跨境支付成本；体验好，能够进行全年不中断 的支付服务等优势。这使它非常适合目前的国际贸易结算应用。在投资交易场景，我们正在与头部合规交 易所进行合作；在零售支付场景，我们正在与京东港澳站等收单场景进行对接和测试。我们也期待更多优 质合作 ...

Core Viewpoint - Taobao Tmall has launched a new store evaluation system called "Real Experience Score," which aims to provide a comprehensive, objective, and transparent consumer feedback mechanism based on product quality, logistics speed, and service assurance, directly linking it to core areas such as search, recommendation, marketing, and advertising [1][9] Group 1: Real Experience Score Implementation - The new evaluation system allows consumers to view the "Real Experience Score" directly on product details, store homepage, and impression pages, aiding in their purchasing decisions [1] - As of the effective date of the Real Experience Score, there are 1.2 million merchants on the platform with scores above 4.8, indicating a significant number of high-performing sellers [2] - During the recent Tmall 618 shopping festival, improvements were noted in logistics delivery speed and customer service capabilities among merchants, with specific examples from brands like L'Oreal, Adidas, and Three Squirrels showcasing enhanced consumer experiences [2] Group 2: Merchant Support and Improvement Features - Taobao Tmall has introduced a diagnostic and improvement suggestion feature to help merchants increase their Real Experience Scores by providing targeted recommendations based on set goals [4] - High-scoring merchants will receive additional support in search, recommendation, marketing, and advertising, along with more opportunities through related products [5] - A store rating filtering function has been implemented to help consumers easily select high-scoring store products, thereby increasing visibility for quality merchants [7] Group 3: Evaluation Criteria and Fairness Measures - The Real Experience Score evaluates product quality based on metrics such as "first return rate" and "product negative review rate," while logistics speed is assessed through "timely pickup rate," "delivery time," and "logistics exception rate" [7] - Service assurance is measured by "3-minute response rate," "satisfaction rate," "refund processing time," and "platform assistance rate" [7] - To ensure fairness, Taobao Tmall has established measures against fraudulent practices that could artificially inflate scores, along with an appeal process for merchants disputing penalties [7] Group 4: Strategic Goals and Financial Support - The primary goal of the Real Experience Score is to incentivize merchants to enhance product and service quality, promoting a competitive environment where quality prevails [9] - In line with its "supporting excellence" strategy, Taobao Tmall has introduced various initiatives this year, including substantial financial support during the 618 event, amounting to billions in subsidies for high-quality merchants [9]

Core Insights - The 2025 "618" mid-year promotion has shifted from a "price war" strategy to a focus on "simple benefits," emphasizing service, technology, and efficiency [1] - Consumer complaints during the promotion period have decreased significantly, with issues related to pricing no longer being major pain points, while logistics delays and service issues remain prevalent [1][2] - The trend indicates a growing consumer rationality, with a focus on product quality and delivery efficiency rather than just low prices [1][4] Group 1: Consumer Complaints and Trends - The "618" promotion period saw nearly 14,000 complaints, with a 72.6% decrease in complaints about pricing issues compared to 2024 [1] - Major complaints now revolve around logistics delays, system glitches, coupon failures, and after-sales service [1][2] - The digital appliance sector experienced the highest complaint volume, particularly regarding service response times and refund efficiency [2] Group 2: Pricing and Consumer Behavior - Consumers are increasingly frustrated with price protection policies, with complaints about platforms refusing to honor price guarantees and frequent price fluctuations [3] - There is a call for platforms to implement features that notify consumers of recent price changes to enhance transparency [3] - The reduction in low-price fraud complaints is attributed to improved platform regulations and a more rational consumer base [4] Group 3: Future Trends and Challenges - Experts predict that AI will play a significant role in future shopping festivals, but potential issues such as algorithmic errors may lead to new consumer complaints [4] - The integration of second-hand goods into major promotions is on the rise, but inconsistencies in appraisal standards and unclear after-sales responsibilities may become new complaint hotspots [4] - There is a warning about the emergence of new forms of deceptive practices, such as misleading discount promotions through AI-generated content [4]

Core Insights - The article highlights significant developments in the global expansion of Chinese companies, focusing on e-commerce, technology, and logistics sectors. Group 1: Major Events - AliExpress ranked second in the Australian download charts, driven by a successful live-streaming event featuring popular products [5] - TEMU signed a substantial contract with Oracle, migrating its infrastructure to Oracle Cloud, which may address data privacy concerns in the U.S. market [13] - SHEIN has secretly submitted an IPO application in Hong Kong, marking its third attempt to go public [15] - Alibaba Cloud plans to deploy full-stack AI capabilities globally, enhancing its service and compliance for overseas operations [17] - Cainiao has established a cross-border logistics network in the Gulf Cooperation Council (GCC) countries, enabling delivery within three days [22] Group 2: Company Developments - WeRide has secretly submitted an IPO application in Hong Kong, following a significant drop in its stock price since its NASDAQ debut [47] - Abridge, a generative AI clinical dialogue platform, completed a $300 million Series E funding round, raising its valuation to $5.3 billion [54] - OMOWAY, a smart electric motorcycle brand, completed multi-million dollar funding and launched its product in Indonesia [50] - GIVA, an Indian jewelry brand, raised $61.7 million in Series C funding to expand its retail and digital presence [52] Group 3: Market Trends - The UAE is expected to attract nearly 10,000 millionaires in 2025, continuing its trend as a preferred destination for high-net-worth individuals [44][45] - TikTok Shop launched a tailored strategy for European cross-border sellers, focusing on product, content, and marketing [8][9] - The global gaming market continues to thrive, with Tencent's "Honor of Kings" maintaining its position as the top-grossing mobile game worldwide [28][29]

Group 1 - Jeff Bezos, the former world's richest man, recently married Lauren Sanchez in a grand ceremony in Venice, Italy [1] - Sanchez has made a significant impression with her extravagant jewelry, including large diamond pieces [3] - Following the wedding, Sanchez changed her social media name to include Bezos's surname, signaling her new identity as Mrs. Bezos [4] Group 2 - Despite fluctuations in stock prices, Bezos remains extremely wealthy, with a net worth of approximately 1.6 trillion RMB, which is more than three times that of China's richest man, Zhang Yiming [6] - The article highlights the dramatic life of Sanchez, who has been married twice and has three children, with her oldest child being 24 years old [8] - Bezos and Sanchez reportedly began their relationship in 2016 while both were still married, leading to their respective divorces in 2019 [12] Group 3 - The divorce between Bezos and his first wife, MacKenzie Scott, was notable for its financial implications, with Scott receiving 4% of Amazon's shares, valued at around 36 billion USD at the time [14] - Following the divorce, Scott became one of the world's wealthiest women and has since donated over 17 billion USD to charity [18] - Sanchez's divorce was less complicated due to her lower financial stakes, and she filed for divorce just 24 hours after Bezos announced his [16][18] Group 4 - Sanchez is described as a high-energy individual who has successfully navigated multiple marriages, leveraging her relationships to ascend the social ladder [20] - She has a background in aviation, having founded a company that provides aerial filming services and holds a commercial helicopter pilot license [27] - Sanchez's skills in flying and her vibrant personality have reportedly captivated Bezos, helping him overcome his fear of flying [32][34] Group 5 - The article suggests that Bezos's decision to marry Sanchez, despite the complexities of wealth and prenuptial agreements, indicates a genuine emotional connection [43] - The narrative draws parallels between Bezos's past relationships and the current one, emphasizing the transformative impact Sanchez has had on his life [39][41] - The piece concludes by highlighting Sanchez's vitality and ability to inspire, suggesting that her influence has rejuvenated Bezos's outlook on life [44]

到家市场战火炽热的同时，到店市场也同样热闹。 据记者了解，大众点评自2015年被美团收购后，一直以独立事业部存在，但也隶属到店事业群。对于合 并后的影响，李树斌对本报记者表示，美团大部分基建的能力在核心本地商业，点评的愿景主要还是帮 助用户找到发现真实世界的美好生活，所以更多的是让用户到线下去。 伴随着大数据从餐饮延伸至酒旅、大健康等越来越多的线下生活场景，6月26日美团核心本地商业CEO 王莆中在美团2025服务零售产业大会上表示，整个服务零售产业去年有7万亿，但线上化率只有9%，他 预计2030年这一比例有望增长到25%。 与到家市场现在已成为巨头间的游戏不同，到店市场玩家众多但也更加分散，下沉市场则成为他们争夺 日渐激烈的关键战场。网经社电子商务研究中心数字生活分析师陈礼腾对《华夏时报》记者表示，目前 服务零售市场的竞争关键聚焦于用户体验、运营效率、技术创新、生态协同与政策合规五大维度，"头 部企业正通过并购整合加速资源优化，AI、大数据等技术驱动精准营销与智能调度，在效率与体验上 构建双重优势。" 撬动线下餐饮 互联网数据已成为越来越多用户选择线下服务的重要参考，餐饮是其中的一个重要品类。 6月25日 ...

6月26日晚间，阿里巴巴发布2025财年年报。年报显示，2025财年，阿里巴巴集团收入9963.47亿元，同比增长6%，净利润同比增长77%至1259.76亿元。对 此，网经社组织了包括投资人、学术专家、业内人士等10位专家进行解读。 t 6 Career 2008 葡萄使 03つ対型野 网经社电子商务研究中心特约研究员 术歌场 网经社电子商务研究 宁波新东方工贸有限公 O3D型D 中心特约研究员 www.2020 型 UTH 载优云 シ/OND滋菜散潮 2025财年，阿里巴巴集团在复杂的全球宏观环境下，以9963.47亿元的总收入和同比增长77%的净利润（达1259.76亿元），展现出强大的战略定力与业务韧 性。这一年，是阿里战略聚焦与业务创新的关键一年，电商、云智能、AI等多业务板块亮点频出，开启了新的增长篇章。 电商主业作为根基，依旧稳健前行。淘天集团收入4498.27亿元，同比增长3%，客户管理收入增速达6%，88VIP会员规模突破5000万，彰显平台生态活力与 用户粘性提升。这得益于淘天持续投入用户增长与体验优化，以及对商家经营环境的精心打磨 ，构建起平台、商家、消费者共赢的生态体系。 对此，灵猫有 ...

Core Viewpoint - The Supreme People's Court has released five typical civil cases related to online consumption, emphasizing the importance of integrity in business operations and the legal protection of consumer rights [1][6]. Group 1: Online Consumption Trends - New business models in the online consumption sector are emerging, leading to various new issues and challenges that require ongoing research [8]. - The 2023 "618" shopping festival highlighted significant changes in online consumption trends, with a shift from price wars to a focus on product quality and value for money [2][6]. - High-tech products, energy-efficient green products, and health-related outdoor products have seen sustained popularity among consumers [2]. Group 2: Legal Challenges and Consumer Rights - Online consumption disputes often involve multiple parties, including platform operators, merchants, payment service providers, and logistics companies, complicating legal relationships [3]. - The Supreme People's Court has established that operators must fulfill their commitments made during live marketing, such as compensation promises, to protect consumer rights [4][5]. - The court has also addressed issues of false advertising and excessive collection of consumer information, holding businesses accountable for misleading practices [6]. Group 3: Regulatory Developments - The State Administration for Market Regulation has proposed a draft for the "Live E-commerce Supervision Management Measures," outlining the responsibilities of platform operators in managing compliance and consumer protection [7]. - There is a call for platforms to enhance their role as gatekeepers, ensuring that marketing practices are transparent and do not mislead consumers [7]. Group 4: Future Directions - The Supreme People's Court plans to increase research efforts in the online consumption sector, aiming to unify judicial standards and improve communication with market regulatory bodies to prevent and resolve disputes [8].

公告显示，本次交易采用收益法和资产基础法两种方法对碧橙数字100%股权进行评估，并选用收益法 评估结果作为最终评估结论。根据收益法评估结果，截至2024年底，碧橙数字100%股权的评估值为 13.12亿元，评估增值率164.91%。在扣除碧橙数字评估基准日后的现金分红3000万元后，各方协商后确 定的最终交易价格为12.80亿元。 此外，本次交易拟募集配套资金不超过8.3亿元，扣除发行费用后的募集资金净额拟用于支付本次交易 的合并对价及补充上市公司的流动资金。 值得关注的是，因是否承担业绩补偿义务不同，此次交易还采取了差异化的定价安排。其中，承担业绩 补偿义务的碧橙数字实际控制人刘宏斌、冯星、杭州橙祥企业管理合伙企业（有限合伙）（以下简 称"杭州橙祥"）、杭州橙灵企业管理合伙企业（有限合伙）（以下简称"杭州橙灵"）所持股份对应碧橙 数字现金分红后的整体估值为13.84亿元，其余交易对方所持股份对应碧橙数字现金分红后的整体估值 为11.20亿元。 公告显示，承担业绩补偿义务的碧橙数字实际控制人刘宏斌、冯星，杭州橙祥、杭州橙灵因本次交易取 得的梦网科技股份将根据标的公司业绩实现情况或补偿义务履行情况逐年解锁。补偿 ...

01 破局之始：超级用户时代，品牌与用户关系的重构策略 当泡泡玛特用盲盒的"不确定性惊喜"让全球年轻人为情绪价值买单，当消费者愿意为IP故事感和身份认同感支付溢价，一个清晰的信号正在释放：在消费需求分层 与品牌竞争加剧的当下，消费者购买的早已超越商品本身，而是情感共鸣与社交认同。 这种消费逻辑的变迁，正倒逼品牌运营范式升级——那就是传统"流量采买"的短线思维已触及天花板。品牌要穿越周期性波动，必须完成从"流量猎人"到"用户耕 耘者"的身份蜕变。而蜕变的核心钥匙，正是"超级用户"。 超级用户不是普通的消费者，他们是品牌最珍贵的"私域宝藏"：他们不仅是消费主力军，更是品牌口碑的传播者、产品创新的共建者。这群兼具高消费力、高忠诚 度与高传播力的核心用户，正成为品牌增长的确定性答案。 天猫品牌超级会员日的诞生，正是对这一趋势的精准把握。作为电商行业的领军者，天猫作为电商行业的领军者，天猫早在2021年就推出"品牌年度会员日"，经过 四年迭代，该活动已升级为"品牌超级会员日"，成为品牌在存量时代实现增长的重要引擎。 当其他平台还在纠结"流量从哪里来"，天猫已经用品牌超级会员日证明：在关系经济时代，谁能紧密连接那些愿意为 ...