Core Viewpoint - The competition in the instant retail market is intensifying as major internet platforms like JD.com, Taobao, and Meituan ramp up their efforts, raising questions about the opportunities for third-party delivery platforms like SF Express and Flash Delivery [1][10]. Group 1: Market Dynamics - Instant retail is experiencing explosive growth, with JD.com's food delivery service achieving over 25 million daily orders within just four months and over 150,000 full-time couriers [3][4]. - Taobao's flash purchase service has surpassed 60 million daily orders, and Alibaba has merged Ele.me into its China e-commerce group to accelerate instant retail development [3][4]. - Meituan is expanding its instant retail offerings, planning to cover all first and second-tier cities and enhance its supply chain across 200 quality agricultural regions [3][4]. Group 2: Strategic Involvement of Major Players - High-level executives from major companies are directly involved in promoting their instant retail services, indicating the strategic importance of this sector [4][5]. - JD.com has begun recruiting full-time couriers for its delivery service and has introduced a "second delivery station" role to enhance management and service quality [7][8]. Group 3: Innovations in Delivery Services - JD Logistics has launched the "Second Delivery Warehouse" service, which integrates warehousing and delivery, allowing for average delivery times of 30 minutes in key areas [9]. - This service model helps merchants avoid the high costs associated with building their own warehouses, thus lowering entry barriers for instant retail [9]. Group 4: Opportunities for Third-Party Delivery Platforms - Despite the dominance of major internet platforms, third-party delivery companies like SF Express and Flash Delivery have the potential to thrive by focusing on customized delivery solutions for various sectors [10][11]. - SF Express has noted that the current "takeout war" is just the beginning, with future expansions expected into non-food categories such as general merchandise and pharmaceuticals [11]. - The company aims to leverage its unique advantages by providing comprehensive service solutions for mid-sized businesses, which may prefer to collaborate with third parties rather than be tied to major platforms [12].

图①：深圳罗湖区e路同行新就业群体党群服务中心内，一名小哥将自己的 心愿贴上"心愿墙"。 深圳罗湖区委社会工作部供图 图②：杭州萧山区北干街道湖滨花园小区门口，一名小哥准备扫"小哥 码"进入小区。 方杏兰摄 图③：秦皇岛海港区人民里社区在爱"新"驿站开展义诊活动。 秦皇岛市委社会工作部供图 数据来源：中央社会工作部 版式设计：张芳曼 编者按 千万小哥，穿梭于大街小巷，奔走在城乡之间。这些"美好生活的创造者、守护者"，起早贪黑、风雨无 阻，越是节假日越忙碌，只为最短时间将快递、外卖送达——2024年，我国快递业务量突破1700亿件， 日均外卖订单超过8000万单。 有人形容，小哥的工作就像在打一场城市闯关游戏—— 风雨兼程，进小区、爬楼梯，完成各种订单配送。为保证及时送达，需要合理规划路线，熟悉街头巷 尾，提高配送效率。 有人慨叹，"城市闯关"的人，常常被卡在"最后100米"—— 有的小区面积大、管理严，小哥不能骑车进，只能步行，费时费力；有的小区外面没有停车位，小哥要 么在远处停车，要么冒"乱停乱放"受处罚的风险；有的小区楼栋多又标识不清，不少小哥如进"迷 宫"…… 此外，装备充电、人员休息等"补给"难题，也 ...

Core Insights - The company has successfully navigated the challenge of balancing revenue growth and profit margins, achieving a continuous increase in gross margin for seven consecutive years while outpacing market revenue growth [1][2] - The company anticipates maintaining its growth momentum in 2024, with a projected doubling of net profit to 132 million yuan, establishing itself as the only consistently profitable player in the third-party delivery industry [2][4] Group 1: Business Performance - The company reported a significant increase in active merchants, reaching 650,000 in 2024, with a strong growth in key accounts (KA) and a market share that remains competitive [1][2] - The number of active consumers exceeded 23 million, with a notable increase in repurchase rates, contributing to revenue growth and enhancing order density in various business districts [1][2] - The active rider count reached 1 million last year, with a significant year-on-year increase in high-income riders [1] Group 2: Business Segments - The company’s three business segments (ToB, ToC, and last-mile delivery) are expected to drive sustained growth, with the ToB segment expanding its customer base by over 7,500 stores last year [2][3] - The ToC segment has introduced exclusive delivery products that strengthen its position in the high-end market, aiding consumer business development [2][3] Group 3: Market Trends - The ongoing competition in the food delivery sector is intensifying, with major players like Meituan and JD.com heavily investing in the market, indicating a shift towards a broader range of products beyond just food [4][5] - The company believes that the current food delivery battle is just the beginning, with future expansions into grocery, pharmacy, and other sectors expected to drive significant growth [4][5] Group 4: Strategic Focus - The company aims to maintain its unique third-party positioning and comprehensive business model, focusing on enhancing service quality and building a robust rider ecosystem [5][6] - The company plans to leverage customized logistics solutions to cater to various verticals, including grocery and pharmaceuticals, while integrating warehousing and delivery services to enhance efficiency [5][6] Group 5: Long-term Outlook - The company is positioned in a long-term growth sector, with increasing consumer demand for convenience and instant delivery aligning with modern lifestyle trends [6][7] - The industry is expected to see an influx of new players, driven by the need for diverse channels and the ongoing trend of brand concentration in the supply side [6][7]

他闯成"飞手" 将时间倒回三年前，罗锡坤刚刚成为一名美团骑手。长时间的一线奔波，让他对各种路线信 手拈来，即便逢上高峰期，也能在心里提前规划好，将每位顾客的餐食及时送到，"每天出 去跑8-10个小时，虽然累点，好在收入比较稳定，而且相对自由的氛围没有拘束感。" 回忆起那段一线经历，罗锡坤至今仍非常感激："送外卖的经历给我在新工作中提供了很多 便利，一方面过去带着手机在深圳的大街小巷跑，哪里信号好、哪里敏感区少都比较清楚， 所以航线信息采集时效率会高不少；另一方面，过去接触客人多，对传统配送模式没办法满 足的需求更有概念，在新航线开设时也能更好参与讨论。" 文|《好博会》报道组 张奥 【期数】No.53 【人物】美团无人机飞手 罗锡坤 【TA说】城市天际线上，更多无人机正载着外卖和商品，飞入低空经济的广阔蓝海。这是罗锡坤的故 事，更是美团的故事，一家中国企业用技术不懈给消费者创造美好生活的故事。 深圳龙华美团无人机运营中心，大屏幕上跳动着密集的航线数据。罗锡坤紧盯着不断刷新的 飞行轨迹，手指在通讯键上快速切换："起飞点注意，线上订单激增，请立即为所有待命飞 机上电！"在他身后，监控屏同时闪烁着不同区域的飞行实况 ...

出品：新浪财经上市公司研究院 作者：木予 6月16日美股盘后，昔日的"即时零售第一股"达达集团发布公告称，公司已完成私有化交易，正式成为京东集团的全资子公司并从纳斯达克退市，结束了为 期五年的资本市场征程。截至当日收盘，达达集团每股价格仅约1.96美元，较发行价跌去87.8%；市值最终定格在5.06亿美元，与2020年12月最高点相比蒸 发逾120亿美元。 而同为即时配送平台的闪送仍在苦苦挣扎。上市后短短八个月的时间，公司股价从发行价16美元/股降至2.90美元/股，跌幅高达81.9%，期间甚至一度触底至 2.01美元/股。目前，闪送的市值仅剩2.06亿美元，对比上市首日高点暴跌超九成；流动性严重匮乏、市场关注度奇低，年内日均换手率还不到0.1%。 （来源：wind） 业绩光速"变脸"、自造血能力堪忧，投资者们纷纷对闪送按下不信任键。即时配送市场竞争波谲云诡，公司此时转向十分拥挤的B2C赛道又胜算几何？ 连续两个季度净亏损 巨头环伺订单量下滑 自2024年10月IPO以来，闪送接连交出了两份令人失望的"成绩单"。 据公告显示，2024年闪送实现总营收44.68亿元，同比下降1.3%，为近六年来首次缩水；净亏损 ...

Core Viewpoint - Citi's research report indicates that JD Logistics' recruitment of full-time delivery riders may create synergies with its last-mile delivery business due to differing peak hours for both services, potentially driving long-term revenue growth for JD Logistics [1] Group 1: Business Strategy - The recruitment of full-time riders is seen as a strategic move that could enhance operational efficiency by prioritizing traffic allocation to JD Logistics' self-operated platform riders [1] - The initiative is expected to leverage the different peak times of delivery and logistics operations, optimizing resource utilization [1] Group 2: Financial Outlook - Despite the potential for long-term revenue growth, the high cost of riders and limited monetization ability in the food delivery segment may introduce short-term uncertainties regarding net profit [1] - The impact on projected earnings for 2025 is expected to be manageable, with Citi maintaining a buy rating and a target price of HKD 18, which corresponds to a projected price-to-earnings ratio of 12 times for 2025 [1]

Group 1 - The first batch of 26 new floating rate funds has raised over 12.6 billion yuan, with 13 products already established, indicating strong market interest [1] - Credit bond ETFs have seen their total scale exceed 200 billion yuan, marking a significant growth in the ETF market, driven by a shift towards stable income assets [1] - The People's Bank of China is set to conduct a 300 billion yuan MLF operation, ensuring liquidity remains ample in the market [2] Group 2 - Guotai Junan International has become the first Chinese broker to receive approval for virtual asset trading services, expanding its offerings to include cryptocurrencies [2] - The popularity of the "Su Super" event has significantly boosted weekend consumer spending in participating cities, with a notable increase in group purchase orders [3] - A surge in A-share buybacks has been observed, with 666 companies or major shareholders obtaining buyback loans totaling approximately 133.96 billion yuan [3] Group 3 - BlackBerry reported first-quarter revenue of $121.7 million, exceeding market expectations, and provided guidance for the second quarter [5] - Xero has announced a $2.5 billion acquisition of Melio, a payment platform for small businesses, indicating a strategic move in the fintech sector [5] - Ant Group has reduced its stake in ZhongAn Insurance, becoming the fourth largest shareholder after cashing out approximately 654 million HKD [6] Group 4 - Sanhua Intelligent Controls expects a 25%-50% increase in net profit for the first half of 2025, reflecting positive growth prospects [6] - U.S. stock indices have all risen over 1%, with the Nasdaq reaching a four-month high, driven by easing geopolitical tensions and favorable market conditions [7][8] - The easing of Middle Eastern tensions has led to a significant drop in oil prices, benefiting airline stocks, while gold prices have also decreased [8]

据南都记者了解，此前，顺丰曾探索顺丰同城骑手和快递员在业务上协同的做法，并取得成效。据顺丰 同城业绩披露：2024年，顺丰同城来自最后一公里配送服务（注：该服务主要面向快递企业和物流服务 商，通过提供灵活弹性的运力网络，助力传统快递网络提升时效）的收入增长32.5%至66.25亿元，其中 一大原因是与快递场景的生态融合，派件环节提供支持的服务规模及占比提升。2024年全年，顺丰同城 日均揽收环节支持服务订单量突破150万单。 有行业人士分析，不排除京东物流未来会持续寻找全职外卖骑手和快递员协同的机会。在履约方面，外 卖配送和物流原有的最后一公里配送可以在高峰时段互补，比如快递员派件高峰是在11点前，外卖是在 午餐和晚餐，协同协作，进一步应对多样化需求和提升客户体验，提升京东物流行业服务能力。借助京 东物流丰富的一线员工管理经验，有助于全职外卖骑手进一步职业化、提升全职骑手服务水平，帮助提 升京东外卖体验。 （文章来源：南方都市报） 此外，南都记者从有关人员处了解到，在招募全职骑手之外，京东物流还在营业部设立副站长岗位，对 全职骑手进行日常的管理，但全职骑手的订单、派单逻辑等不会发生变化。此举也不意味着京东物流 ...

Group 1 - JD Logistics announced the recruitment of full-time delivery riders to support JD Group's expanding food delivery business [1] - This initiative aims to enrich JD Logistics' solutions and service offerings [1] - The move is expected to enhance the synergy in existing operational processes, particularly in last-mile fulfillment, and improve operational efficiency [1]

云南昆明，正在举行的第9届中国—南亚博览会展馆内热闹非凡。走进1号展馆，扑面而来的是科技与创 新交织的场景——数智人互动、AI问诊、机器狗舞蹈等精彩纷呈。10家专精特新"小巨人"企业集中呈现 行业前沿成果与未来趋势，吸引到场的外国客商停住脚步，他们对"中国智造"表现出浓厚的兴趣。 云南无线电有限公司在南博会迎来首秀，其推出的智能中医健康检测仪成为焦点，吸引外商体验。基于 指尖脉搏波检测技术，检测仪实现了中医把脉的标准化、数字化和可视化，呈现5项中医健康指标和16 项西医风险预测，人工智能根据把脉结果提供药食、理疗按摩、运动等多种健康管理建议。 "在南博会上，专精特新'小巨人'企业向世界传递了中国科技创新的活力与潜力，他们带来的创新技术 与产品成为连接中外合作的新桥梁。"云南省工业和信息化厅中小企业处处长陈万春说。（记者丁怡 全、吴闫） 作为L4级无人配送行业的专精特新"小巨人"企业，新石器无人车携旗下X3、X6两款物流配送车型亮相 南博会。 企业现场负责人张模娇介绍，截至目前新石器无人车已经在全球15个国家、超250个城市累计交付部署 无人车超5000辆，自动驾驶行驶里程累计超过4200万公里。X3可以让末端 ...