Core Insights - Douyin Life Services partnered with CCTV News to launch a live streaming event titled "Foreign Trade Goodies, Buy More, Love Guangdong," aimed at creating a new channel for foreign trade products in domestic sales [1][9] - The event featured major supermarket chains such as CR Vanguard, Yonghui Supermarket, RT-Mart, and Hongqi Chain, showcasing a variety of foreign trade goods and seasonal products from the Greater Bay Area [1][3] Summary by Sections Event Overview - The live streaming event lasted three hours, attracting over 66 million views and generating more than 1.4 million orders, with total transaction value exceeding 5.09 million yuan [1] - Consumers showed strong interest in discount vouchers offered by supermarkets, facilitating a convenient shopping model of "online coupon collection and offline redemption" [1] Product Highlights - The event showcased various foreign trade products, including food, electronics, and household items, with a special focus on seasonal fruits like lychee [1][3] - CR Vanguard introduced a special coupon for lychee, allowing consumers to purchase fresh fruit at a discounted price [3] Supermarket Initiatives - CR Vanguard's Vice General Manager Xu Zhijiang outlined four key measures to support the transition of foreign trade products to domestic sales, including establishing a "direct access" for foreign goods and collaborating with unique foreign enterprises to develop private label products [3][4] - Yonghui Supermarket's representative Lai Shuzhen highlighted their commitment to supporting foreign trade products through expedited listing processes and brand promotion [4] Success Stories - A fish supply company from Zhongshan, Guangdong, successfully adapted its products for the domestic market after collaborating with CR Vanguard, leading to strong sales [4] - Yonghui Supermarket simplified the qualification review process, allowing a new tuna product to be listed in just 15 days, which garnered significant consumer interest during the live stream [4] Future Plans - Douyin Group initiated a "Douyin Foreign Trade Product Support Plan" to assist foreign trade enterprises in expanding their presence in the domestic market, aiming to invigorate offline consumption [8][9]

Core Viewpoint - The company, Sanjiang Shopping Club Co., Ltd., is set to hold an earnings presentation on June 4, 2025, to discuss its 2024 annual and 2025 first-quarter financial results, allowing investors to engage in Q&A sessions [1][2]. Group 1: Meeting Details - The earnings presentation will take place on June 4, 2025, from 09:30 to 10:30 [2][3]. - The location for the meeting is the Shanghai Stock Exchange Roadshow Center, and it will be conducted via video recording and online interaction [2][3]. - Investors can submit questions from May 27, 2025, to June 3, 2025, before 16:00, through the Roadshow Center website or via the company's email [3]. Group 2: Participants - Key participants in the meeting will include the President, Zheng Qingjun, Independent Director, Chen Xiangyu, Chief Financial Officer, Lin Jiakai, and Board Secretary, Yu Guiguo [2]. Group 3: Investor Participation - Investors can join the earnings presentation online through the Shanghai Stock Exchange Roadshow Center on the scheduled date and time [2][3]. - After the meeting, investors can access the presentation details and main content through the Roadshow Center [4].

据时代财经报道，在移动支付浪潮的席卷下，ATM机正以5年减少约30万台的速度退出历史舞台。中国人民银行今年2月发布的《2024年支 付体系运行总体情况》数据显示，截至2024年末，我国ATM机具数量为80.27万台。对比5年前数据来看，我国ATM机具数量曾在2019年末 触及109.77万台的峰值。如今，中国ATM机已消失近30万台，数量锐减26.87%。有00后大学生表示："我从来没用过ATM机，都不知道学校 有没有ATM机。"多家银行正在对其ATM业务进行调整，无卡存取款业务逐步退出银行业务版图。 网传娱乐主播收入排行榜 网传的4月某平台娱乐主播收入排行榜，前30名最少月入400万人民币，"月收入"。 王健林再卖48座万达广场 国家市场监管总局近日披露的信息，太盟（珠海）管理咨询合伙企业（有限合伙）、高和丰德（北京）企业管理服务有限公司、腾讯控股 有限公司、北京市潘达商业管理有限公司、阳光人寿保险股份有限公司直接或通过其各自关联方共同设立合营企业，并通过合营企业收购 大连万达商业管理集团股份有限公司直接或间接持有的48家目标公司的100%股权。 | 理 专题 | ·可 胶务 | 点 机构 | 四 新闻 | ...

Core Insights - The Chinese retail market in Q1 2025 is experiencing a significant divergence, with some companies thriving while others struggle due to transformation pains and market pressures [1][29]. Group 1: Company Performance - Walmart China reported a net sales increase of 22.5% to $6.7 billion, with comparable sales up 16.8% and e-commerce sales growing by 34% [2]. - Fat East achieved a quarterly sales figure exceeding 6.3 billion, showcasing strong regional performance [20]. - Suning.com turned a profit with a net income of 1.796 million, marking a turnaround after four consecutive quarters of losses [4][5]. - Yonghui Supermarket faced a revenue decline of 19.32% to 17.48 billion, with net profit down 79.96% due to strategic transformation efforts [6]. - Lianhua Supermarket reported a revenue increase of 7.5% but a net profit drop of 59.9% [7]. - Changchun Eurasia Group's revenue grew by 0.38%, but net profit fell by 74.64% [8]. - Tianhong reported a revenue decline of 2.18%, despite a 1.8% increase in shopping center sales [9]. - Wushang Group's revenue decreased by 8.62%, while net profit increased by 2.85% [10]. - Yinzuo Group's revenue fell by 4.32%, with net profit down 20.66% [11]. - Chongqing Department Store's revenue decreased by 11.85%, but net profit increased by 9.23% [12]. - Jiajia Yue's cash flow surged by 355.7%, indicating strong operational efficiency [13]. - Li Qun Group's revenue fell by 5.14%, with net profit down 58.24% [14]. - Dazhong Group's revenue decreased by 8.04%, while net profit increased by 0.7% [21]. - Beijing Hualian's revenue grew by 7.52%, but net profit dropped by 59.92% [24]. - Youa Group's revenue fell by 14.59%, with net profit down 35.48% [25]. - Shanghai New World reported a revenue decline of 6.14% and a net profit drop of 33.95% [26]. - Sanjiang Shopping Club's revenue increased by 1.1%, with net profit up 35.3% [27]. - Renrenle's revenue plummeted by 77.81%, but net profit increased by 39.57% [28]. Group 2: Industry Trends - The retail sector is showing significant differentiation, with leading companies like Walmart and Suning leveraging operational adjustments for growth [29]. - Traditional supermarkets are under pressure, with companies like Yonghui and Lianhua experiencing substantial declines in both revenue and profit [30]. - Regional players like Fat East and Jiajia Yue are thriving due to localized operations and supply chain advantages [31]. - E-commerce and omnichannel strategies are driving growth, as seen with Walmart's e-commerce sales and Suning's offline revenue increase [32]. - Membership store models are gaining traction, with Walmart's Sam's Club expanding to 54 locations [34]. - Cost control and efficiency optimization are critical, with companies like Tianhong and Wushang improving profits despite revenue declines [37]. - Differentiated competition in niche markets, such as health and baby products, is evident with companies like Dazhong and Kid King showing strong performance [39].

Group 1 - The appointment of the new U.S. ambassador to China, Qin Gang, reflects the deep contradictions in the Trump administration's China policy, as evidenced by Trump's simultaneous desire to visit China while imposing domestic pressures on Walmart and the Federal Reserve [1][3] - The U.S. federal debt has surpassed $36 trillion, and the 10-year Treasury yield has risen to 4.5%, causing anxiety in the White House, especially as China has been reducing its holdings of U.S. Treasuries [1][3] - Trump's pressure on Walmart and the Federal Reserve reveals his true policy intentions, as the Consumer Price Index has risen by 6.2% year-on-year due to tariffs on Chinese goods, ultimately burdening American consumers [3][5] Group 2 - The new ambassador, Qin Gang, has a close relationship with Trump and previously advocated for "supply chain decoupling," indicating a hawkish stance despite claims of strategic engagement [5][6] - The ongoing "truce" period in U.S.-China relations allows for potential negotiations, but China insists on equality in discussions, highlighting the failure of Trump's previous tariff strategies [5][6] - The shifting attitudes of the Trump administration are accelerating the "de-dollarization" process, as countries like Saudi Arabia and the UAE seek alternatives to U.S. influence [6][8]

2025年05月25日 证券研究报告 | 数据速览 价格走势：贸易战不确定性再起，市场回撤 本周，美股进一步上涨乏力，且后续受到特朗普贸易言论的负面影响，标普500跌2.6%，纳斯达克跌2.5%。 风格：大盘价值（罗素1000价值-2.6%）>大盘成长（罗素1000成长-2.7%）>小盘成长（罗素2000成长-3.1%）>小盘价值（罗素2000价值-3.8%）。 美股市场速览 贸易战风险再起，多行业资金流出 行业研究·海外市场专题 美股 中性·维持 证券分析师：王学恒 证券分析师：张熙，CFA 010-88005382 0755-81982090 wangxueh@guosen.com.cn zhangxi4@guosen.com.cn S0980514030002 S0980522040001 请务必阅读正文之后的免责声明及其项下所有内容 1个行业上涨，22个行业下跌，1个基本持平。上涨行业：家庭与个人用品（+1%）；跌幅居前的行业：技术硬件与设备（-6.3%）、耐用消费品与服装（-5.4%）、 能源（-4.4%）、运输（-4.4%）、银行（-3.5%）。 资金流向：多行业资金流出，幅度居中上 本周，资金以 ...

商贸零售 2025 年 05 月 25 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -29% -14% 0% 14% 29% 43% 58% 2024-05 2024-09 2025-01 商贸零售 沪深300 相关研究报告 《2025 年 4 月社零同比+5.1%，社会 消 费 平 稳 运 行 — 行 业 点 评 报 告 》 -2025.5.19 《618 大促拉开帷幕，关注国货美妆表 现—行业周报》-2025.5.18 《关注零售行业中期投资策略：深挖 情 绪 消 费 景 气 赛 道 — 行 业 周 报 》 -2025.5.11 2025 年 4 月社零+5.1%，期待消费回暖趋势继续维持 ——行业周报 | 黄泽鹏（分析师） | 陈思（联系人） | | --- | --- | | huangzepeng@kysec.cn | chensi@kysec.cn | | 证书编号：S0790519110001 | 证书编号：S0790124070031 | chensi@kysec.cn 证书编号：S0790124070031 2025 年 4 月社零同比+5.1%，期待消费回暖趋势继续维持 本周国 ...

来源|21世纪经济报道 作者| 赖镇桃 编辑|和佳 美国零售巨头正不得不吃下关税的"苦果"。 以下文章来源于21世纪经济报道 ，作者21记者 21世纪经济报道 . 权威、专业、深度、有趣！用经济思维看世界。 据央视新闻报道，当地时间5月21日，知情人士称，美国零售巨头沃尔玛公司计划裁员约1500人， 作为其重组计划的一部分，以降低开支。 据悉，沃尔玛是美国最大的私营雇主，在美国拥有约160万名员工，在全球拥有约210万名员工。 上周，该公司首席执行官 Doug McMillon在公司的财报电话会议上直言，美国对哥斯达黎加、秘鲁 和哥伦比亚等国的关税，给香蕉、鳄梨、咖啡和玫瑰的价格带来了压力。尤其是对中国的关税，造 成了最大的成本压力。 不过此言一出，却招致美国总统特朗普的炮轰。据央视新闻，他指责"沃尔玛应该停止将全面涨价归 咎于关税，去年沃尔玛利润丰厚，应该自己'吃下'这些关税，而不是向尊贵的顾客收费"。 面对白宫的施压，美国不少大型零售商只能硬着头皮走钢丝——默默消化关税成本的同时，努力维 持价格不变。但是全面涨价还未付诸现实，美国的消费者信心已经跌至2022年6月以来的最低，在 一些分析师看来，情绪的拐点 ...

"我们第一时间对超市销售的内外贸一体化商品进行梳理，并在专区陈列。"永辉商品中心负责人赖淑珍说，目前企业旗下的700多家门店均对外贸商品开 放，永辉福州奥体店、大儒店、公园道店已经设置了外贸产品专区。 近日，永辉超市在"中国制造 点亮内需——外贸优品进永辉"活动上宣布，首批2个品牌的9个商品通过针对外贸受阻企业开设的绿色通道成功在北京喜隆多 店、福州奥体店、杭州滨江宝龙店、临平万达店4家门店上架售卖，后续将陆续扩大外贸商品及售卖门店数量。 超300家进入采购洽谈阶段 15天跑出"永辉速度" 面对国际经济格局振荡和贸易形势变化，永辉超市积极响应并率先行动，发布《致中国优质供应链的一封信》，开通绿色通道，提出15天极速上架、品牌推 广扶持、联合开发新品三大措施，为出口受阻企业搭建内销桥梁。 专项邮箱收到超500封合作邮件，并与超300家优质供应链企业进入洽谈阶段，品类覆盖范围广泛，主要集中在冷冻食品、休闲零食、家居用品等，其中包括 长期为山姆、开市客供货的中国制造企业。 走进位于福州海峡奥体中心商业广场的永辉超市，外贸产品专区设在大门入口处。货架上，各类食品、电器、日用百货等摆得满满当当，吸引不少顾客驻足 选购。 ...

21世纪经济报道记者赖镇桃 广州报道 美国零售巨头正不得不吃下关税的"苦果"。 据央视新闻报道，当地时间5月21日，知情人士称，美国零售巨头沃尔玛公司计划裁员约1500人，作为 其重组计划的一部分，以降低开支。 据悉，沃尔玛是美国最大的私营雇主，在美国拥有约160万名员工，在全球拥有约210万名员工。 上周，该公司首席执行官 Doug McMillon在公司的财报电话会议上直言，美国对哥斯达黎加、秘鲁和哥 伦比亚等国的关税，给香蕉、鳄梨、咖啡和玫瑰的价格带来了压力。尤其是对中国的关税，造成了最大 的成本压力。 不过此言一出，却招致美国总统特朗普的炮轰。据央视新闻，他指责"沃尔玛应该停止将全面涨价归咎 于关税，去年沃尔玛利润丰厚，应该自己'吃下'这些关税，而不是向尊贵的顾客收费"。 面对白宫的施压，美国不少大型零售商只能硬着头皮走钢丝——默默消化关税成本的同时，努力维持价 格不变。但是全面涨价还未付诸现实，美国的消费者信心已经跌至2022年6月以来的最低，在一些分析 师看来，情绪的拐点也容易成为经济衰退的转折点。 硬扛还是涨价？ 据沃尔玛企业备忘录显示，沃尔玛计划裁员约1500人，以重组架构、简化运营，从而降低 ...