【导读】阿里旗下高德推出"扫街榜"，纳入真实到店行为 中国基金报记者 曹雯璟 9月10日，在阿里巴巴成立26周年之际，阿里旗下高德地图宣布，推出全球首个基于用户行 为产生的榜单"高德扫街榜"。 高德地图CEO郭宁宣布，"高德扫街榜"永不商业化。"真实是榜单的核心生命力，'扫街榜'的 核心目标是真实反映用户的选择。我们相信，提升消费信任一定有助于提振消费信心，让商 家专心经营、顾客安心消费，让线下服务业更健康，更可持续发展。"他说。 纳入真实到店行为 让"刷榜"成为不可能 作为阿里集团又一国民级应用，高德继上个月宣布全面AI化后，又有重大发布。 据了解，目前，"高德扫街榜"已覆盖全国超300个城市的160万个线下服务商家，包括超87 万家餐厅、23万家酒店以及近5万个景区等。 业内人士透露，传统美食榜单产品依赖消费者评价，而评价门槛较低，且难以区分真实度， 让刷分刷榜成了一桩心照不宣的生意。尤其是高分店铺往往可以获得更多流量曝光，更是催 生了刷点评的灰色产业，让不少商家深陷"不刷就没流量、刷了就不能停"的"内卷"泥潭之 中。 "但只有用户去了，甚至反复到店，才是对商家最真实的好评，是真正的'用脚投票'。"李刚介 ...

9月10日，抖音生活服务宣布上线"烟火小店扶持计划"，针对人均消费100元以内的商家，提供流量激 励、达人探店、门店物料、货品补贴等资源。此前，抖音生活服务已推出资源补贴、佣金减免、免费培 训等差异化政策。不同于美团、阿里、京东火力正猛的外卖与闪购业务，抖音生服主要侧重团购到店核 销，官方明确没有自建外卖计划。（第一财经记者 吕倩） 抖音生活服务宣布上线"烟火小店扶持计划"。 ...

Core Viewpoint - Baidu Group announced plans to issue offshore priority unsecured notes denominated in RMB to non-U.S. persons under Regulation S of the Securities Act of 1933, subject to market conditions and other factors [1] Group 1: Issuance Details - The principal amount, interest rate, maturity date, and other terms of the notes will be determined at the time of pricing [1] - The net proceeds from the issuance will be used for general corporate purposes, including repaying certain existing debts and paying interest [1]

Core Viewpoint - Goldman Sachs has lowered the target price for Neway Group (01686) from HKD 10.9 to HKD 10 while maintaining a "Buy" rating [1] Financial Performance - For the second half of fiscal year 2025, EBITDA is projected to be HKD 1.068 billion, with earnings per share (EPS) at HKD 0.1217 [1] - EBITDA is 9% lower than Goldman Sachs' expectations, primarily due to revenue falling short by 11%, although this was partially offset by a 2 percentage point expansion in EBITDA margin [1] - Depreciation and amortization were lower than expected, with an effective tax rate of approximately 15%, compared to the anticipated 16% [1] Dividend Information - The final dividend per share is set at HKD 0.12, which is 13% lower than Goldman Sachs' expectations [1] - The annual payout ratio is approximately 46%, down from the previously expected 50%, with management reaffirming that the upper limit of the payout ratio will remain at 50% [1] Future Projections - Revenue forecasts for fiscal years 2026 and 2027 have been reduced by 11% and 13%, respectively, with EPS estimates lowered by 12% and 16% [1] - It is anticipated that the payout ratio will remain at 46% for fiscal years 2026 to 2028, compared to the previous expectation of 50% [1] - For 2028, EPS and dividend per share are projected to be HKD 0.37 and HKD 0.17, respectively [1]

Core Viewpoint - Xiaoetong has submitted an application for an IPO on the Hong Kong Stock Exchange, with CICC acting as the sole sponsor, highlighting its growth potential despite recent compliance issues and consumer complaints [2][4]. Financial Performance - Revenue projections for Xiaoetong from 2022 to 2024 are 299 million, 415 million, and 521 million RMB respectively, with gross profits of 162 million, 300 million, and 389 million RMB [3]. - The company reported losses of approximately 34 million, 37 million, and 15 million RMB for the same years [3]. - In the first half of 2025, Xiaoetong achieved revenue of 306 million RMB, a year-on-year increase of 26.4%, and a gross profit of 231 million RMB, up 25.5% [4]. Compliance and Consumer Issues - Xiaoetong faced regulatory scrutiny, receiving a fine of 50,000 RMB from the Shenzhen Market Supervision Administration for failing to conduct necessary qualification reviews, allowing illegal online transactions [4]. - The company has been involved in illegal stock recommendations and has received multiple consumer complaints, totaling 3,237 on platforms like Black Cat, primarily concerning service quality and refund issues [4]. Company Structure and Ownership - Xiaoetong primarily provides services for merchants to build knowledge stores, conduct online live teaching, and offer paid knowledge services [6]. - The founder, Bao Chunjian, holds 44.92% of the voting rights, while Tencent and Ximalaya hold 16.82% and 7.01% of the shares respectively [6].

Group 1 - The Hang Seng Index opened up 0.09%, and the Hang Seng Tech Index rose by 0.11%, with real estate stocks mostly increasing, particularly Country Garden which surged over 14% [1] - The recent underperformance of the Hong Kong stock market is viewed as a phase of consolidation following a rapid rise, rather than a trend reversal, with the foundation of the current bull market still intact [1] - Market structure shows significant differentiation, with only 35% of stocks outperforming the benchmark index since the beginning of the year, indicating a lack of market breadth [1] Group 2 - Short-term factors affecting the Hong Kong market include fluctuations in Hong Kong dollar liquidity and adjustments in profit expectations for the internet sector; however, mid-term prospects may improve with potential interest rate cuts by the Federal Reserve [2] - The current valuation of Hong Kong stocks remains relatively low compared to other major global markets, with expectations of increased foreign capital inflow and a more attractive investment environment due to improved listing regulations [2] - Structural opportunities in the Hong Kong market are emerging, particularly in sectors like new consumption and innovative pharmaceuticals, as well as traditional industries such as "AI+", overseas expansion, and smart manufacturing [2]

Core Viewpoint - The disruption of undersea cables in the Red Sea has impacted internet services in multiple countries, including India and Pakistan, with potential service interruptions for Microsoft Azure users due to increased network latency [1] Group 1: Incident Overview - Netblocks reported that internet services in countries like India and Pakistan are affected by the disruption of undersea cables in the Red Sea [1] - The incident has also caused similar issues for UAE telecom operators Etilasat and Du [1] - Multiple undersea cable system failures were confirmed near Jeddah, Saudi Arabia [1] Group 2: Impact on Microsoft - Microsoft stated that Azure users may experience increased network latency due to the disruption of several undersea cables in the Red Sea [1] - The company indicated that business traffic passing through the Middle East region could face service interruptions [1] - Microsoft has rerouted traffic through backup network paths and reported no current network service interruptions [1]

Core Viewpoint - Baidu Group-SW (09888.HK) plans to issue offshore, non-guaranteed priority notes denominated in RMB to non-U.S. persons under Regulation S of the Securities Act of 1933, subject to market conditions and other factors [1] Summary by Relevant Sections - **Issuance Details** - The principal amount, interest rate, maturity date, and other terms of the notes will be determined at the time of pricing [1] - **Use of Proceeds** - The net proceeds from the note issuance are intended for general corporate purposes, including repayment of certain existing debts and interest payments [1]

9月7日晚间，智度股份发布关于控股股东涉及诉讼事项的公告，公司控股股东智度德普因合伙期限到期未及时解散，被12名有限合伙人提起诉讼，要求解 散。 智度德普表示将积极与受理法院、诉讼原告及其他有限合伙人进行沟通，妥善处理该诉讼事项，将继续勤勉、尽责地履行控股股东职责，保障上市公司运 营和治理结构的稳定。 公告显示，北京智度德普股权投资中心（有限合伙）（简称"智度德普"）为智度科技股份有限公司的控股股东，智度德普与智度集团有限公司、拉萨经济 技术开发区智恒咨询有限公司为一致行动人，截至本公告披露日，合计持有智度股份比例约为24.85%。 公司于2025年9月5日收到智度德普的《告知函》，获悉智度德普于近日收到北京市顺义区人民法院（2025）京0113民初31419号《应诉通知书》，刘莉等 12名智度德普有限合伙人（合计出资比例为19.82%）向北京市顺义区人民法院提起诉讼，请求判令解散智度德普，理由是目前智度德普合伙期限已到 期，却不及时解散等原因。 公告指出，诉讼案件并未对智度股份本期利润或期后利润产生影响，公司具备独立的生产经营体系，经营活动正常开展。智度德普将积极与法院及原告进 行沟通，妥善处理诉讼事项，确 ...

Group 1 - The core viewpoint of the article discusses the recruitment and interview process at Beike, highlighting its competitive salary and the potential for career advancement to larger tech companies [4][6]. - Beike is considered a strong option among mid-tier internet companies, with a technology stack that aligns closely with major internet firms, making it a good stepping stone for future job opportunities [4][6]. - The salary information for Beike's 2025 recruitment cycle indicates that undergraduate positions offer a total package of approximately 32-33.6 million CNY, while master's positions can reach up to 40 million CNY [5][7]. Group 2 - The article provides detailed salary breakdowns for different positions at Beike, showing that the base salary for undergraduates is around 20k-21k CNY per month, while master's graduates can expect around 23k-25k CNY [5][6]. - Beike's year-end bonuses are reportedly around four months' salary, and the company offers free meals, contributing to an attractive overall compensation package [6][8]. - The work-life balance at Beike is described as relatively better than that of larger firms, with standard working hours from 10 AM to 7:30 PM, although overtime may extend to 9 PM [6][8]. Group 3 - The interview difficulty at Beike is comparable to that of major tech companies, with a focus on technical questions covering computer networks, Java fundamentals, and database management [8][9]. - Specific interview questions include common HTTP response codes and the differences between session and cookie, indicating a strong emphasis on foundational knowledge in web development [10][12]. - The article also discusses the differences between runtime exceptions and checked exceptions, highlighting the importance of understanding error handling in Java [13][15].