Core Viewpoint - The China Logistics and Purchasing Federation, in collaboration with JD Group, reported that the e-commerce logistics index for December 2025 is 113.6 points, reflecting a month-on-month increase of 0.5 points [1] Summary by Categories E-commerce Logistics Index - The e-commerce logistics index stands at 113.6 points for December 2025, which is an increase of 0.5 points from the previous month [1] Sub-index Performance - The rural business volume index, inventory turnover index, logistics timeliness index, fulfillment rate index, satisfaction index, and loaded rate index all experienced month-on-month increases [1] - The total business volume index and cost index saw a decline [1] - The personnel index remained stable compared to the previous month [1]

Group 1 - The Ministry of Commerce of China supports enterprises in conducting cross-border operations and international technology cooperation in accordance with laws and regulations [1] - The Ministry will assess the consistency of Meta's acquisition of Manus with relevant laws and regulations regarding export control and foreign investment [1] Group 2 - The U.S. President Trump has threatened Iran with severe consequences if there are further deaths related to the ongoing unrest [2] - The Venezuelan National Assembly announced the formation of a high-level committee to push for the release of President Maduro and his wife [3] Group 3 - The Ministry of Commerce of China reaffirmed its commitment to deepen economic and trade relations with Venezuela, despite external pressures [4] - The Ministry supports the integration of Hong Kong and Hainan for coordinated development within the national strategy [5] Group 4 - Multiple departments in China reiterated the need to regulate the competition order in the power and energy storage battery industry to avoid irrational competition [6] - The Ministry of Education plans to launch a new round of "Double First Class" university construction in 2026, focusing on optimizing higher education structure [7] Group 5 - Guangzhou's government has issued a plan to accelerate the development of five strategic leading industries, including artificial intelligence and new energy [8] - Jiangxi Province is promoting the "Ying Shan Hong Action" to support technology companies in planning for public listings by 2027 [9] Group 6 - Chongqing has opened applications for the remaining budget of the 2025 automobile replacement subsidy, amounting to 59.6 million yuan [10] - Guizhou Province is implementing policies to support the development of county economies and enhance industrial quality [11] Group 7 - The film "Zootopia 2" has extended its release until February 25, 2026, with a cumulative box office exceeding 4.261 billion yuan [12] Group 8 - The United Nations has warned that the U.S. may lose its voting rights in the General Assembly if it continues to delay payment of dues [13] - The U.S. Vice President stated that Venezuela can only sell its oil if it aligns with U.S. interests [14] Group 9 - The Venezuelan Foreign Minister reiterated the commitment to deepen economic cooperation with China, emphasizing the legal framework supporting bilateral relations [15] - The Venezuelan government is advancing a legislative agenda focused on economic development and sovereignty protection [16] Group 10 - Ukraine's President announced that a bilateral security assurance document with the U.S. is ready for finalization [17] - Iran's Foreign Minister stated that Iran is prepared to respond to any situation while emphasizing a desire for negotiations based on mutual respect [18] Group 11 - The Fukushima nuclear power plant issued an alarm due to a malfunction in the cooling system for contaminated water [19] Group 12 - Alibaba is increasing investment in Taobao Flash Sales to achieve market leadership by 2026 [20] - BYD has launched new car models with limited-time tax incentives, with prices starting at 92,800 yuan after subsidies [21] Group 13 - The U.S. stock market showed mixed results, with the Dow Jones rising while the Nasdaq fell, influenced by declines in AI and tech stocks [22] - Institutions were active in the market, with significant net purchases and sales of various stocks [23][24]

Core Insights - The business landscape in 2025 is characterized by significant transformations driven by AI, e-commerce, and local services, with major companies like JD.com, Alibaba, and Pop Mart leading the charge [3][4][7] - Key figures in the industry are recognized for their innovative approaches and impactful strategies, earning them accolades such as "most impactful" and "most daring" [3][7][10] Group 1: JD.com and Liu Qiangdong - Liu Qiangdong made a strong public return in 2025, taking on the role of "Chief Experience Officer" and engaging directly with consumers through various initiatives [5][6] - His actions, including cooking live and delivering food, aimed to enhance JD.com's local service offerings and reshape the company's image as more relatable and community-focused [5][6] - JD.com also committed to providing full social insurance for its delivery riders, emphasizing sustainable employee welfare over mere competition on subsidies [6] Group 2: Alibaba and Jiang Fan - Jiang Fan returned to lead Alibaba's e-commerce division, focusing on integrating various business segments under a unified platform to enhance operational efficiency [7][8] - His strategy included the launch of Taobao Flash Purchase, which significantly boosted user engagement and was projected to generate substantial transaction growth in the coming years [8] Group 3: Pop Mart and Wang Ning - Wang Ning, founder of Pop Mart, successfully transformed emotional value into a profitable business model, with the LABUBU IP becoming a top-tier brand [9] - Despite market concerns about sustainability, Pop Mart remains a leading player in the collectible toy industry, with plans to further explore long-term value creation [9] Group 4: AI and Yan Junjie - Yan Junjie, founder of MiniMax, is recognized for his foresight in AI development, having started his venture before the AI boom [15][16] - MiniMax focuses on efficient resource use and innovative algorithms, with a young workforce that emphasizes agility and high performance [16] Group 5: GPU Industry and Zhang Jianzhong - Zhang Jianzhong's company, Moore Threads, successfully launched on the STAR Market, becoming a significant player in the domestic GPU sector [17][18] - The company achieved a remarkable IPO process, with a high stock price and low lottery rate, indicating strong market interest and potential for growth [18][19]

Core Viewpoint - JD Group announced a share repurchase plan for 2025, involving the buyback of approximately 183 million Class A ordinary shares, equivalent to 91.6 million American Depositary Shares, totaling around $3 billion [1] Group 1: Share Repurchase Details - The total number of shares repurchased represents about 6.3% of the company's outstanding ordinary shares as of December 31, 2024 [1] - As of the announcement date, all 183 million Class A ordinary shares have been fully canceled [1] - The repurchase is part of a share buyback program adopted in August 2024, with a maximum limit of $5 billion, valid until August 2027 [1] Group 2: Remaining Buyback Capacity - As of December 31, 2025, the remaining amount under the share repurchase plan is approximately $2 billion [1]

智通财经APP讯，京东集团-SW(09618)发布公告，2025年度，本公司回购共计约1.83亿股A类普通股(相 当于9160万股美国存托股)，总额约为30亿美元。该等回购的股份总数约为本公司截至2024年12月31日 流通在外普通股的6.3%。 截至本公告日期，2025年度回购的1.83亿股A类普通股(相当于9160万股美国存托股)已经全部完成注 销。 上述回购均根据本公司于2024年8月采纳并至2027年8月有效的最高达50亿美元的股份回购计划，在纳斯 达克及香港联交所进行。截至2025年12月31日，该股份回购计划的剩余金额约为20亿美元。 ...

1月7日晚8点，一年一度的京东PLUS会员年度盛典将重磅开启。届时，京东PLUS会员将联合腾讯视频VIP、网易云音乐等推出价值超千元的买1得5"超级联 名卡"，仅需298元限时抢购，同时赠5斤车厘子。京东PLUS会员还可领1345元超级补贴，1月8日当天叠加万券使用。此外，京东PLUS会员还可享苹果手机0 元以旧换新抽签购、至高领20元京东外卖券、1元抽取赢森海塞尔耳机或小度AI音箱等超级福利。现在起打开京东APP搜索"PLUS年度盛典"即可直达活动页 面。 18 5 - 3 PLUSHEANH IO HEFUL SHINS r T PLUS FILM FIFF 司 JULE T 直营品 原料二 E STATION HOME AND THE FOR a E P 热门会员年卡 每类各选1张 H = LED = 出量量式 it Call of Call 1298 哈密¥1100+ RE 1500以下载 1553 H 2 预约成功 1月7日20点限量抢 图开卡后48 90000 值得关注的是1月8日起，京东PLUS会员"生活服务包"也将再添新权益，在原有的积分0元兑换保洁、洗衣洗鞋、洗车、寄快递、在线问诊、读书VI ...

消息面上，根据市场消息，阿里巴巴面向投资者的最新交流信息显示，淘宝闪购在最新季度取得关键进 展。同时，阿里集团对于淘宝闪购2026年的投入战略也明朗化：闪购首要目标是份额增长，会坚定加大 投入以达到市场绝对第一。前瞻信息显示：12月季度，淘宝闪购GMV份额持续增长、AOV（平均订单 价值）保持增长，订单份额保持稳定；同时，订单结构持续改善、中高笔单订单占比稳步提升。 智通财经APP获悉，阿里巴巴-W(09988)午后跌幅扩大逾3%，截至发稿，跌3.02%，报141.5港元，成交 额87.79亿港元。 ...

Group 1 - The core point of the article is the arrival of JD Logistics' first Airbus A330 freighter at Nantong Airport, marking an upgrade in its fleet structure and enhancing the airport's air cargo capabilities [1][2] Group 2 - The newly introduced Airbus A330 freighter has a maximum takeoff weight of 233 tons, a payload capacity of 61 tons, and a total cargo hold volume of 453 cubic meters [2] - The main cargo hold is equipped with an all-electric cargo loading system, which significantly improves cargo handling efficiency and transportation reliability [2] - The introduction of the A330 freighter will help JD Logistics enter a new development phase and further expand its international business layout in the Asia-Pacific, Middle East, and Europe [2] Group 3 - Nantong Airport is actively deepening its cooperation with JD Airlines to expand international cargo routes in the Asia-Pacific, Middle East, and Europe, contributing to regional economic integration and global trade [2]

Core Insights - JD.com has officially launched a new incentive policy for 2026 aimed at fashion categories such as apparel, beauty, and sports, maintaining a "0 commission, up to 100% rebate" structure while introducing a "New Merchant Relay Rebate" program to support new merchants over a 12-month period with rebates up to 1.2 million yuan [1][4] Group 1: New Merchant Incentive Policy - The new policy includes a tiered rebate system based on monthly sales, where merchants can receive up to 100% commission rebate for achieving sales of 30,000 yuan or more [5] - JD.com has provided over 10 million yuan in commission rebates and traffic incentives to new merchants in the fashion category, resulting in a 130% year-on-year increase in new merchant registrations [4] - The "New Merchant Relay Rebate" program is designed to alleviate pressures faced by merchants during their initial growth phase, allowing them to earn rebates even with slow initial sales as long as they meet subsequent sales targets [4][5] Group 2: Support and Growth for New Merchants - JD.com has enhanced its service provider incentive system to improve recruitment and operational capabilities, fostering a more prosperous platform ecosystem [4] - The company has attracted millions of merchants since the upgrade of its "Spring Dawn Plan" in 2025, covering over 400 cities nationwide and helping nearly a thousand new merchants achieve sales exceeding 10 million yuan [5] - The case of the sports brand Anou Tu illustrates the effectiveness of JD.com's support, as the brand experienced a twofold increase in monthly sales after receiving training and marketing resources from JD.com [5]

淘宝闪购选择拉上微信的盟友。1月7日，北京商报记者从微盟获悉，微盟集团已与阿里巴巴集团旗下本 地生活服务平台淘宝闪购达成战略合作，双方将围绕即时零售、数字营销、技术创新等领域展开多维业 务合作与探索。 淘宝闪购是即时零售赛道的实力选手，微盟是微信私域流量的资深玩家。公私域流量、商家供给资产、 数字化经营能力等资源，是双方"联姻"的推手，也是当下急需补上的短板。 各取所需 电子商务交易技术国家工程实验室研究员赵振营也表示，微盟能扩大SaaS覆盖与订阅收入，淘宝闪购能 补齐私域与商户运营能力，双方共同做大即时零售蛋糕，可以把"顾客资产"变成生态共有的增长引擎。 精细化运营 从微盟和淘宝闪购具体的合作内容来看，双方将进行系统打通和业务协同，在商户资源上实现共享。例 如微盟的商户能高效接入淘宝闪购平台，实现本地零售"到家、到店"的一体化运营。这意味着，淘宝闪 购将借势获得更多本地生活领域的商家资源。根据微盟2025年上半年的财报数据，使用微盟SaaS产品等 订阅方案服务的商家数量有5.9万家，覆盖本地生活、服饰、快消、美妆等领域。其中，有1227家品牌 商家使用微盟的智慧零售解决方案服务，这类商家每用户平均订单收入为 ...