近日，随着"双12"购物节各种促销政策纷纷上线，消费者的购物热情同步点燃。趁此热度，浙江各地抢抓岁末消 费旺季，策划组织多元活动，持续激发消费潜能。 在杭州的这家卖场，"双12"促销活动持续升温，不少市民前来选购。商家紧贴岁末年底消费需求，联合厂家上新 多款家电产品，同步加码满减优惠力度，销售额较平日增加近两成。 消费者 曹先生：因为我房子马上交付了，就赶紧来买掉，各个品牌自己的厂家的补贴，吸引力还是蛮大的。 杭州苏宁易购广场店店长 余林启：让利给消费者，新服务的模式，给消费者带来更大的一个生活品质的提升。 购物节的热度也从消费端传导至供给端。在湖州织里镇，这家服饰店铺12小时的订单量突破5000单。应对激增的 发货需求，企业引入自动化分拣系统，确保货品快速送达消费者手中。 为助力企业更好抢抓年底窗口期，今天，省商务厅举行新消费创新大赛资源对接活动，为百余家新消费品牌链接 金融、技术和平台资源。这家科技企业带来了自主研发的外骨骼产品，计划在消费级健康与辅助领域加大应用。 现场，参会电商平台当即与其开展对接，探讨新品推广路径。 湖州煜果果品牌管理有限公司副总经理 张小涛："双12"期间，我们早中晚三场直播，比平 ...

Core Viewpoint - The term "Old Deng" has become a widely recognized label in various sectors, indicating traditional industries and brands that are perceived as outdated or lacking innovation, particularly among younger consumers [5][10]. Group 1: Characteristics of "Old Deng" Brands - "Old Deng" brands are typically from traditional industries with low technological content, heavily reliant on channel construction and often family-owned, maintaining strong ties with political and business relationships [5][10]. - The essence of "Old Deng" consumption focuses on "preservation of value," with products like Moutai liquor, fuel vehicles, luxury goods, and cultural artifacts being favored, reflecting a preference for stability and understated sophistication [5][10]. - Brands that have been labeled as "Old Deng" often fail to resonate with younger consumers due to a lack of empowerment in decision-making during social drinking scenarios, leading to a negative perception of products like liquor [8][9]. Group 2: Evolution of Brands - The phenomenon of "brand aging" occurs as consumer demographics shift, with brands that were once popular among older generations losing appeal to younger consumers, exemplified by the transition of Hai Lan's Home from a trendy brand to one associated with older generations [17][18]. - The historical context of brands shows that many successful companies emerged during the rapid urbanization of the 1990s, capitalizing on the economic boom, but they now face the risk of becoming "Old Deng" as consumer preferences evolve [22][24]. - The case of Gome and its founder Huang Guangyu illustrates how a once-innovative business can struggle to adapt to changing market conditions after a significant period of absence from the industry [28][30]. Group 3: The Future of "Middle Deng" Companies - Current "Middle Deng" companies, which have validated their business models and possess strong cash flows, face the challenge of avoiding the "Old Deng" label as they struggle to innovate and grow user bases [35][36]. - Companies like Alibaba and Baidu are at risk of becoming "Old Deng" as their core businesses mature, but their ventures into AI and other emerging technologies provide opportunities to remain relevant [36][39]. - The ongoing technological advancements in areas such as drones, robotics, and AI suggest that companies maintaining their innovative spirit are less likely to transition into the "Old Deng" category [39].

Core Insights - The core strategy of Suning.com focuses on the "Big Store Strategy" with the launch of Suning Max stores, aiming to transform traditional retail into immersive lifestyle experiences that integrate technology, life, and social interaction [1][13] Group 1: Strategic Overview - In 2025, Suning.com aims to transition from a product-selling channel to an ecosystem-building retail service provider, aligning with national strategies for high-quality development and new productivity [1][10] - The Suning Max stores are designed to meet the growing consumer demand for quality, scenario-based, and personalized shopping experiences, particularly in the context of the government's "old-for-new" policy [1][10] Group 2: Store Innovations - Suning Max stores redefine the retail "people, goods, and space" model by creating consumer-centric experiences through immersive lifestyle environments, including areas for gaming, coffee tasting, and family activities [3][4] - The stores serve as launch and experience hubs for new smart home appliances, featuring flagship stores for top global brands and hosting numerous product launch events [4][10] Group 3: Membership and Customer Engagement - The "Suning Friend" membership system offers exclusive services and benefits, fostering emotional connections with customers and enhancing long-term loyalty [5][10] - The Nanjing store saw a 60% increase in membership registrations and a 110% rise in transaction efficiency within two months of its upgrade, demonstrating the effectiveness of experience-driven membership models [5][12] Group 4: Nationwide Expansion and Performance - The Suning Max strategy is expanding nationwide, with significant openings in major cities, creating a network that enhances retail presence in key urban areas [7][8] - The Nanjing store achieved record sales of 1.6 billion yuan during the May Day holiday, with a 90% increase in foot traffic and a 78% rise in sales year-on-year by mid-2025 [8][12] Group 5: Policy Integration and Supply Chain Collaboration - Suning Max stores leverage government policies to stimulate market demand, achieving a 588% increase in old-for-new sales at the Nanjing location [10][12] - Collaborations with leading brands like Haier and Siemens have led to the development of customized products, enhancing the supply chain ecosystem and driving sales growth [10][12] Group 6: Financial and Social Impact - In the first half of 2025, Suning.com reported a net profit of 48.693 million yuan, a 230.03% increase year-on-year, with significant growth in offline sales [12][14] - The Suning Max model has attracted a younger demographic, with 60% to 70% of customers being young consumers, revitalizing local economies and enhancing regional consumption [12][14]

Central Economic Work Conference - The conference emphasized the need for a more proactive macro policy in the upcoming year, focusing on expanding domestic demand and optimizing supply [2] - It highlighted the importance of maintaining employment, stabilizing enterprises, and ensuring market expectations, aiming for qualitative improvement and reasonable quantitative growth [2] - The policy direction for next year includes a commitment to continue implementing more active fiscal and moderately loose monetary policies, with a focus on consistency and effectiveness [2][3] Federal Reserve Interest Rate Decision - The Federal Reserve announced a 25 basis point rate cut, lowering the target range from 3.75%-4.00% to 3.50%-3.75% [4] - The decision faced opposition from three voting members, marking the first time since 2019 that such dissent occurred [4] - The Fed plans to begin purchasing short-term government bonds to maintain adequate reserve levels, indicating a focus on market liquidity rather than a return to quantitative easing [5] Trump's Golden Card Visa Program - The Trump administration has begun accepting applications for the "Golden Card" visa, aimed at attracting wealthy individuals to the U.S. for a fee of $1 million [6] - This program has raised concerns about fairness in the U.S. immigration system, as it contrasts with stricter immigration policies [6][7] World Bank Economic Forecast for China - The World Bank has raised its economic growth forecast for China, predicting a growth rate of 4.9% for 2025 and 4.4% for 2026, both up by 0.4 percentage points from previous estimates [8] - The IMF and ADB have also adjusted their forecasts upward, reflecting a more optimistic view of China's economic resilience amid global trade challenges [8][9] "Jiutian" Drone Development - The "Jiutian" drone successfully completed its maiden flight, showcasing advancements in China's large drone technology [10] - This drone features a modular design that allows for various applications, including logistics and emergency response, highlighting its dual-use potential [11] Meta's AI Model Development - Meta is leading a new AI project called "Avocado," utilizing Alibaba's Qwen model to enhance its AI capabilities, indicating a shift towards closed-source models [12][13] - This change reflects a broader trend among tech companies moving away from open-source models due to performance and security considerations [13] JD.com's Investment in Hong Kong - JD.com has acquired office space in Hong Kong for approximately 3.5 billion HKD, signaling its commitment to expanding operations in the region [14] - This move aligns with a trend of major internet companies increasing their investments in Hong Kong as a strategic market [14][15] Suning's Asset Sale - Suning.com announced the sale of eight companies for a total of 8 yuan, indicating a significant reduction in its debt burden [16][17] - This transaction is part of Suning's strategy to improve its financial situation, although the company continues to face operational challenges [17] Stock Market Performance - The stock market experienced a downturn, with the Shanghai Composite Index falling by 0.7% amid a lack of positive catalysts [18] - The market's performance reflects broader economic uncertainties, including concerns over consumer spending and real estate sector stability [18] New Stock Subscription Rules at Beijing Stock Exchange - The Beijing Stock Exchange is rumored to be changing its new stock subscription rules to lower the entry barrier for investors, potentially increasing market participation [19]

Core Viewpoint - Suning.com is divesting its non-core assets to focus on its core home appliance and 3C business, aiming to reduce debt levels and improve profitability through the sale of subsidiaries [1][2][3] Group 1: Asset Sale Details - Suning International, a wholly-owned subsidiary of Suning.com, sold 100% equity of 8 subsidiaries to Shanghai Qishu Jiafu for a total price of 8 yuan, with each company sold for 1 yuan [1] - The sale is expected to increase the net profit attributable to the parent company by approximately 999.2 million yuan [1] - The 8 subsidiaries include Nanjing Shiguang Zhujiu and Qujing Keyoushi, with 7 of them having negative equity values as of September 30 [1] Group 2: Previous Asset Sales - In 2023, Suning.com has previously sold 4 Carrefour subsidiaries for 4 yuan in June and 12 subsidiaries for 12 yuan in September, totaling 24 subsidiaries sold for just 24 yuan [1] - These transactions have cumulatively increased net profit by over 1.9 billion yuan [1] Group 3: Financial Performance - For the first three quarters of the year, Suning.com reported revenue of 38.131 billion yuan, a year-on-year increase of 0.29%, but a net profit of 73.33 million yuan, down 87.76% year-on-year [3] - In Q3 alone, revenue was 12.236 billion yuan, with a net profit of 24.64 million yuan, and a non-recurring loss of 1.11 billion yuan [3] Group 4: Debt Situation - As of the end of Q3, Suning.com had a high asset-liability ratio of 90.67% [4]

天眼查App显示，近日，四川优厨汇电器有限公司成立，法定代表人为吴明丹，注册资本10万人民币， 经营范围为一般项目：家用电器销售；机械设备销售；电子产品销售；电力电子元器件销售；厨具卫具 及日用杂品零售；五金产品零售；日用百货销售；制冷、空调设备销售；电气设备销售；家用电器安装 服务；家用电器零配件销售；电器辅件销售；机械电气设备销售；日用家电零售。（除依法须经批准的 项目外，凭营业执照依法自主开展经营活动）。 ...

天眼查App显示，近日，临澧县恒锦电器有限公司成立，法定代表人为匡朗兵，注册资本20万人民币， 经营范围为一般项目：日用家电零售；家用电器销售；家用电器零配件销售；日用电器修理；家用电器 安装服务；厨具卫具及日用杂品零售；厨具卫具及日用杂品批发；互联网销售（除销售需要许可的商 品）；五金产品批发；五金产品零售；建筑用金属配件销售；金属工具销售；刀具销售；劳务服务（不 含劳务派遣）。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Market Overview - On December 10, both A-shares and Hong Kong stocks experienced a rebound after an initial decline, with the Shenzhen Dividend, CSI 500, and STAR 200 indices rising by 0.64%, 0.49%, and 0.38% respectively [1] - In the sector themes, real estate, retail (consumption), and telecommunications led the gains [1] - In the ETF market, real estate and tourism ETFs showed the highest increases [1] - In Hong Kong, the CSI Hong Kong Stock Connect Technology and Hang Seng Technology indices rose by 0.58% and 0.41% respectively [1] Technology Sector - Alibaba's Qianwen AI application became the fastest-growing AI application globally, surpassing 30 million monthly active users within 23 days of public testing [2] - Xiaomi Group is actively recruiting for AI education-related positions, indicating a strategic move towards a systematic educational content ecosystem [2] - CICC's strategy analyst Liu Gang highlighted the need for new catalysts in the AI industry chain, with hardware visibility being more significant than applications [2] Consumer Sector - The Consumer Price Index (CPI) rose by 0.7% year-on-year in November, the highest since March 2024, with the core CPI increasing by 1.2% [3] - Sales revenue in the home appliance and telecommunications retail sectors, supported by the old-for-new consumption policy, grew by 26.5% and 20.3% respectively from January to November [3] - The government plans to maintain a proactive fiscal policy and moderately loose monetary policy in 2024, focusing on new economic investments and enhancing consumer spending [3] Real Estate Sector - Vanke held its first bondholders' meeting regarding the extension of its 22 Vanke MTN004 bonds, which is crucial for the company's financial recovery [4] - Following the announcement, Vanke's A-shares hit the daily limit, and its Hong Kong shares rose by 15%, indicating strong market expectations for fiscal support to stabilize the real estate market [4] - The Vanke-related bonds also showed active trading in the market [4] Related ETFs - The real estate ETF rose by 2.95% on the same day [5] - Other ETFs related to tourism and entertainment also saw price increases of 1.46% and 1.11% respectively [3][5]

东方网记者程琦12月9日报道：今年的双12，你参与了吗？到底便宜吗？年终岁末，备受关注的"双十二"大促已在各大电商平台拉起了序幕。然而，与平台 高调宣传形成对比的是，社交平台上充斥着对"先涨后降"、"规则复杂"的吐槽。有消费者直言"涨价就不买了"，更多人则感到"购物节疲劳"。 然而，与线上的争议形成鲜明对比的是，线下的家电市场却异常火热，"以旧换新"订单量同比翻倍增长，功能升级的"新质家电"备受追捧。一边是"购物节 疲劳"下的消费觉醒，一边是"精准补贴"下的消费热情释放，今年的双12，正上演着一幕耐人寻味的"冰火两重天"。 对此，中国消费者协会、中国市场监督管理学会发布消费提示，消费者要警惕"价格魔术" ，谨防"优惠陷阱"，认清"低价"本质，理性消费。 消费者的"盲盒"体验：有人"捡漏"，更多人感觉"被套路" 对于守候在屏幕前的消费者而言，今年的"双十二"更像一个巨大的"盲盒"，开出的结果截然不同。 | 18:40 | | ll & [1 | | --- | --- | --- | | 安吉丽娜老李 | | 关注 | | | - ) | D | "所有商家都涨价了！全网都疯了吧？"消费者"安吉丽娜老李"在社交 ...

包括企业销售收入、行业涉税经营主体数量等在内的税收大数据，是观察中国消费市场活力的重要窗 口。以旧换新政策释放电子产品潜力、"银发经济""赛事经济"不断升温……国家税务总局近日发布的税 收数据显示，今年以来，在一系列提振消费政策的支持以及消费新场景、新模式带动下，中国消费市场 呈现出多方面积极变化。 分消费人群看，银发和年轻群体也展现较大消费潜力。《中国老龄产业发展报告》预测，2050年中国60 岁以上老年人口消费市场规模将超过100万亿元。"十五五"规划建议也提出"积极开发老年人力资源，发 展银发经济"。今年以来，银发群体消费需求增加，带动养老服务需求多元增长。1—11月份，老年人养 护、社会看护与帮助、疗养院服务消费同比分别增长33.6%、9.6%和14.6%。在年轻消费群体中，为"情 绪价值"埋单的情绪消费热度上升。以游戏动漫等数字文化服务为代表的情绪价值、社交属性消费颇受 年轻消费者青睐，展现出一定消费潜力。1—11月份，与其相关的数字文化服务销售收入同比增长 16.5%。 多个行业的税收数据显示，消费品以旧换新政策显著促进了消费需求释放—— 国家税务总局总经济师、新闻发言人荣海楼介绍，税务部门下一步 ...