Shopify的商家现在可以在Shopify的管理系统内直接选择亚马逊多渠道履约服务，将亚马逊卖家平台账 户与Shopify账户绑定后，商家能够设置Shopify订单自动流转至亚马逊进行履约。这种合作不仅提高了 履约效率，更带来了库存自动同步、订单实时追踪等一系列管理便利。然而，这种合作模式也可能使 Shopify商家的利润率承受压力，因为需要与亚马逊共享部分收益。 这种变化背景下，投资者需密切关注Shopify如何在与亚马逊的合作中平衡自身利益。对于Shopify而 言，与亚马逊的合作可以增加销售渠道的多样性，提高市场竞争力，但也须防范被其强大物流优势所左 右。因此，投资者在考虑Shopify时，需关注其与亚马逊合作后在市场份额和利润率变化上的表现。 从投资角度看，尽管Shopify短期内面对挑战，但其在电子商务领域的坚实基础和持续创新能力仍有吸 引力。对于长线投资者而言，这家公司仍然具有潜力，建议保持对其市场策略和财务表现的关注。短期 投资者则需警惕股价的波动，并依据市场反馈调整投资策略。 （来源：美股情报站） 近日，Shopify的股价波动引起了市场的广泛关注。9月23日，公司股价下跌4.57%，这一变 ...

以下文章来源于晚点财经 ，作者晚点团队 晚点财经 . 用框架思维分析上市公司的增长逻辑与投资价值。 "出海四小龙" 各自在错位竞争。 文 丨 管艺雯 我们此前报道 ，为应对 4 月以来爆发的关税战，Temu 和 Shein 都在商品价格中明确标注 "Import Charges"（进口费用），并都在拓展美国以外的市场，美国在 Shein 全球 GMV 中的占比，已经不及 30%，Temu 则为 35%。 Temu 为 2025 年定下了超过 30% 的 GMV 增长目标，这源于它从去年才开始做欧洲等市场，今年的 增速会很快，据我们了解，Temu 也重新在美国市场恢复了市场投放。目前，Temu 的业务以本对本的 半托管模式为主，这种模式下，平台上出售的商品由卖家自行运到美国的仓库并承担关税。 但大多数公司很难做到 Temu 面向商家、员工、供应商几乎不留余地的极致效率，因此也无法实现 Temu 那样的极致低价。 据我们了解，全球关税战爆发后，速卖通内部就开始反思，低价路线的天花板太低，"如果没有差异化 很难做，最终大家都是在压价格。" 他们意识到，只有中国品牌商品还有溢价空间，加税之后的价格 在全球市场仍然有竞 ...

资料显示，淘工厂是淘天集团旗下主打产业电商的平台，采用M2C模式（工厂对消费者）运营，一头 链接十多万产业带源头工厂，一头链接消费者，推进产业带厂商布局国内零售市场转型发展。 2024年双十一期间，淘工厂买家端用户增长超200%，GMV（成交总额）和订单量增长超120%，百万规 模商家中超1000家实现交易额爆发，是全品类爆发的一年。 但随着行业普遍陷入"价格战"等无效内卷，上下游发展整体受影响后，淘工厂开始探索更健康的产业带 发展路径。 9月22日，淘工厂&国货严选在浙江义乌举办商家大会。证券时报记者在会上了解到，淘工厂2025年下 半年将聚焦深耕100个核心一级产业带，核心逻辑是加码提效率、保品质，其选择100个核心产业带的具 体标准包括品类匹配度、效率与份额、人群适配性等。 据悉，接下来3个月，淘工厂&国货严选商家中心和产地工作人员将集中走进部分核心亮点产业带，如 安庆包装、哈尔滨粮油速食、江西景德镇瓷器等新供给产业带，通过深入源产地打产业带名片的方式强 化消费者的品类心智。 在产业带找确定性 "去年淘工厂核心解决多样化供给，希望尽可能多的品类商家入驻；今年淘工厂则聚焦'确定性'，采取 深耕策略，聚焦1 ...

Group 1 - The core viewpoint highlights the sustained healthy development of e-commerce in China from January to August, with a focus on expanding consumption and accelerating the application of artificial intelligence [1] - Online retail sales in China increased by 9.6% year-on-year, with physical goods online retail sales growing by 6.4% [1] - The online sales of home appliances and digital products saw significant growth, with smart wearables, computers, and mobile phones increasing by 25.2%, 23.7%, and 20.2% respectively [1] - Online service consumption grew by 18.9%, with tourism and dining online sales increasing by 25.5% and 19.1% respectively [1] Group 2 - E-commerce platforms are enhancing the application of artificial intelligence in various operational aspects, improving the digitalization of the entire supply chain [1] - The R&D intensity of major listed e-commerce platforms ranged from 6.2% to 24.5%, surpassing the average level of listed companies [1] - The "Silk Road E-commerce" initiative has hosted over 20 events, including the first "Silk Road E-commerce" cooperation innovation development conference during the China-Arab States Expo, attracting over 300 representatives [2] - Sales of key monitored products from Indonesia, Kazakhstan, and Uzbekistan saw remarkable growth, with increases of 160.1%, 143.2%, and 94.6% respectively [2]

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]

Core Insights - The e-commerce sector in China has shown sustained healthy growth from January to August 2025, with a focus on expanding both goods and service consumption, accelerating AI innovation applications, and promoting mutually beneficial international trade [2] Group 1: E-commerce Growth - The online retail sales in China increased by 9.6% during the first eight months of 2025, with physical goods online retail sales growing by 6.4% [2] - The online sales of home appliances and digital products have seen significant growth, with smart wearables, computers, and mobile phones increasing by 25.2%, 23.7%, and 20.2% respectively [2] - Online service consumption rose by 18.9%, with tourism and catering online sales growing by 25.5% and 19.1% respectively [2] Group 2: AI Innovation in E-commerce - E-commerce platforms are enhancing the application of artificial intelligence in merchant operations, industry connections, and scenario optimization, improving the digitalization level across the entire supply chain [2] - In the first half of the year, the R&D intensity of major listed e-commerce platforms ranged from 6.2% to 24.5%, surpassing the average level of listed companies [2] - Platforms are actively promoting the development of humanoid robots, smart logistics, and other intelligent products, contributing to the establishment of an AI industrial ecosystem [2] Group 3: International Cooperation - Over 20 events themed "Silk Road E-commerce Benefits the World" were held, including the first "Silk Road E-commerce" cooperation innovation development conference during the 7th China-Arab States Expo, attracting over 300 representatives [3] - The e-commerce working groups with Kazakhstan and Uzbekistan were established to promote policy exchange, industry connections, capacity building, and local cooperation [3] - Sales of key monitored platforms for Indonesian bird's nest, Kazakh safflower oil, and Uzbek candies increased by 160.1%, 143.2%, and 94.6% respectively [3]

大公司： 国泰航空恢复西雅图航线每周五对直航往返航班 36氪获悉，国泰航空宣布，将于2026年3月30日起，重启直航往返西雅图航线。西雅图将成为国泰在北 美地区的第九个客运航点，进一步提升香港枢纽的环球网络联系。在2026年夏季，国泰每周将提供超过 110对往返北美的航班，目的地包括波士顿、芝加哥、达拉斯、洛杉矶、纽约、旧金山、西雅图、多伦 多和温哥华。 马斯克称明年SpaceX可能将全球总有效载荷的95%送入轨道 一位X用户援引最新的火箭发射市场份额报告称："SpaceX在第二季度发射了88.5%的卫星，2025年剩余 时间有望达到埃隆·马斯克90%的份额遇刺。按送入轨道的重量计算，SpaceX占全球总量的86%。"马斯 克回应称："一旦星舰飞船明年带着真正的有效载荷频繁飞行，那么SpaceX可能会将全球总有效载荷的 95%送入轨道，尽管其他国家，尤其是中国，仍在继续增长。到2027年，这一比例可能高达 98%。"（新浪财经） 百度文库：智能PPT能力月访问量超3400万 36氪获悉，近日，国家工业信息安全发展研究中心（简称"国家工信安全中心"）发布《大模型赋能智慧 办公评测报告——PPT生成》，选取8个常 ...

新京报贝壳财经讯(记者程子姣)9月22日，淘宝出海宣布今年双11将在海外市场投入10亿元的营销补 贴，预计帮助10万商家实现双11海外成交翻倍的目标。 ...

Core Insights - Taobao is set to invest 1 billion yuan in marketing subsidies for this year's Double 11 event, launching simultaneously in 20 countries and regions [1] - The platform offers a "0 return refund, 0 operational cost" model for merchants, allowing them to sell overseas with minimal barriers [1] - Over 1 million merchants have joined the overseas growth plan since its launch in 2024, with signed merchants experiencing GMV growth three times that of the overall overseas market [1] Marketing Strategy - Taobao will support cross-border free shipping and return services in 12 overseas sites during Double 11, with specific regions like Hong Kong and Macau offering "0 threshold free shipping" [1] - Significant shipping vouchers will be distributed daily in countries such as Singapore, Malaysia, and Australia [1] - An interactive game called "Taobao Wonderland" will be introduced for non-Chinese users, allowing them to earn rewards for shopping discounts [1] Industry Focus - The platform will focus on key industries such as apparel, 3C digital products, furniture, sports and outdoor, toys, and automotive parts during Double 11 [2] - More than 1 million merchants are expected to sell to overseas markets, with 400 million products eligible for cross-border free shipping [2] - Taobao estimates that 100,000 merchants will achieve a doubling of overseas sales during this event [2]

Group 1 - Taobao Overseas will invest 1 billion yuan in marketing subsidies for this year's Double 11 to help 100,000 merchants double their overseas sales [1] - The initiative will launch simultaneously in 20 countries and regions, offering five different language versions to global consumers [1] - Taobao Overseas has maintained double-digit growth in overseas GMV for five consecutive years, with new overseas users increasing by nearly 200% since April [1] Group 2 - The platform offers a "0 return and refund, 0 operating cost" model, allowing merchants to easily sync their existing Taobao stores to overseas sites [1] - During Double 11, Taobao will support cross-border free shipping and return services in 12 overseas sites, with zero-threshold free shipping in Hong Kong and Macau [1] - Taobao will launch an interactive game "Taobao Wonderland" for non-Chinese users, allowing them to earn rewards for shopping discounts [2] Group 3 - The platform will focus on key industries such as apparel, 3C digital products, furniture, outdoor sports, toys, and automotive parts during the Double 11 event [2] - Over 1 million merchants are expected to sell to overseas markets during Double 11, with 400 million products eligible for cross-border free shipping [2] - Taobao Overseas aims to implement long-term operational strategies beyond Double 11, including launching industry-specific promotional activities throughout the year [2]