近日，顺丰终止与抖音电商的退货业务合作，且未参与2026年该业务，引发行业广泛关注，抖音电商退货履约服务已逐步由京东物流、中通、圆通等企业承 接。对此，顺丰官方回应称，此次合作终止系合同自然到期，属于正常商业行为，双方合作期间沟通良好。 双方早期情投意合，源于抖音对服务品质的严苛要求与顺丰高端服务能力的精准匹配。随着合作深入，双方核心诉求逐渐背离。顺丰近年来推进"增益计 划"，重点聚焦负毛利客户，即每单派送均产生亏损的业务。业绩方面，顺丰2025年三季度营收为784.0亿元，同比增长8.2%；归母净利润却同比下降 8.53%，扣非净利润更是下滑14.17%，属于典型的增收不增利。 反观抖音，随着电商业务规模变大，对成本的敏感度逐渐攀升。抖音为维持其在激烈电商竞争中的价格优势，持续优化电商退货成本，这恰巧与顺丰在下半 年实施的、旨在提升整体毛利率和严格筛选客户的"增益计划"形成错位。 电退件对时效性和服务方面的要求很高，各个环节均需快速响应。对于中通、圆通等加盟制快递企业而言，其核心优势在于正向件的低成本大规模派送，末 端网点及快递员的工作重心围绕派送展开，并从中获取微薄的派费。而抖音退货业务，需要实现"一小时 ...

在抖音网购，如何用返利平台省下每一分钱？ 一个链接跳转，一笔隐藏佣金，用户购物后在不知不觉中获得返现，这个过程正成为抖音电商购物的新常态。 2025年6月，字节跳动创始人张一鸣回归公司核心管理层，推动抖音战略升级。最新数据显示，抖音（含TikTok）全球月活跃用户首次突破10亿大关，成为 全球首个达成这一里程碑的短视频社交平台。 2025年3月，抖音月人均使用时长已增长至46.54小时，这意味着平均每人每天刷抖音超过1.5小时。 01 抖音电商版图：从兴趣内容到万亿商业帝国 抖音电商的发展历程可以用"飞速"来形容。自推出电商功能以来，抖音仅用短短数年时间，就从一个纯粹的内容娱乐平台转变为重要的电商阵地。 为了应对这一挑战，抖音电商在2025年开启了一场全域革命。货架场景发生了关键蜕变，抖音商城从直播间的补充变为真正的"第二战场"。 2025年第一季度财报显示，抖音货架场景GMV占比已跃升至42%，搜索成交额同比暴涨了150%。 02 返利本质：商家营销预算的再分配 要理解像惠利星球这类的返利平台的运作机制，首先需要明白电商交易背后的成本结构。当消费者在抖音平台下单时，商家除了支付商品成本和物流费用 外，还需要 ...

圣诞、元旦"双旦"佳节来临，亲友们围坐分享零食、举杯共饮微醺，餐桌与茶几上少不了营造新年氛围感的好物，作 为节日松弛感与热闹感的必备元素，休食酒饮相关品类推动节日消费持续升温。 针对双旦期间爆发性、多元化的消费需求，京东京喜自营凭借"源头直采、工厂直供" 的供应链优势，深度联动全国重 点零食、水果、酒饮产业带，推出"节庆礼盒""健康微醺""寓意佳果"等系列节庆产品，顺应用户双旦集中消费需求， 多品类销量显著增长。 节庆刚需品零食水果热销，"心想事橙"10月至今卖超400万斤 节日欢聚时刻，茶几上总是摆满琳琅零食与新鲜果盘。数据显示，2025年中国休闲零食市场预计突破1.6万亿元，年增 长率稳定在 6%-8%。其中，Z世代与年轻白领已成为核心消费群体，消费占比超半数，他们对产品的颜值设计、情感 价值与社交属性需求显著提升，高颜值、主题化或具备情绪传递功能的休闲食品持续激发消费活力。 顺应这类趋势，京喜自营推出悠享时曲奇糕点饼干礼盒、初见半夏巧克力礼盒，以多口味组合与礼赠属性，满足聚会 分享场景；造型别致的大牌同厂圣诞靴子糖果，为节日增添童趣；而圣诞节迪士尼草莓熊零食礼盒，则凭借其可爱IP 外观设计和丰富口味，深 ...

此次京东延保作为京东运动整体赛事服务生态的关键一环亮相。京东运动为赛事提供了最全最专业的装备支持，而京东延保则以"保障官"的角色，为之补上 了"售后无忧"的最终拼图。这种"即买即享、无后顾之忧"的模式，将保障服务转化为提升用户运动体验与消费信心的基础设施。 在赛事现场，京东延保于京东运动展区设立了专属服务点，现场跑者们热烈咨询，工作人员为跑者提供面对面的保障咨询与答疑，将创新的服务产品转化为 可感知、可信任的安心承诺。 近日， 2025越山向海人车接力中国赛海南站激情开赛。在这场跨越山海、挑战极限的年度盛事中，京东延保首次以"专属运动装备保障官"的身份携手京东 运动嵌入赛事服务体系，并联合专业跑鞋品牌索康尼（Saucony），于赛事期间正式推出针对跑鞋损耗的创新型保障产品——"180天鞋损补贴"，旨在为参赛 跑者的昂贵装备提供坚实后盾，标志着运动消费体验从"购买产品"向"拥有全面保障"的关键升级。 精准护航：首创"鞋损补贴"，破解运动核心装备损耗焦虑 在高温高湿、路况复杂的极限赛道环境中，专业运动装备，尤其是动辄千元以上的高端跑鞋，面临着开胶、开裂、中底缓震材料塌陷等非人为的高损耗风 险。已然构成了资深跑者及 ...

Core Insights - The express delivery business in Henan province has achieved a cumulative volume of 10.518 billion packages in the first 11 months of the year, marking a year-on-year growth of 29.81%, surpassing the total volume of the previous year [1] - The integration of e-commerce and express delivery is significantly transforming consumer habits and economic operations, contributing to a retail sales total of 2.641515 trillion yuan, with a growth rate of 5.8%, which is 1.8 percentage points higher than the national average [1] - Over 80% of the express delivery volume in the province is derived from e-commerce, with postal and express companies meeting various delivery demands, thus stimulating online consumption [1] Group 1: Market Resilience - The development of rural delivery logistics is a key driver for the growth of the postal and express delivery industry, with cooperative models enhancing the logistics channels for agricultural products [2] - By the end of November, the postal-express cooperation had delivered 207.4188 million packages, generating revenue of 81.0476 million yuan, with a coverage rate of 88.66% for cooperative villages [2] - The dual flow of agricultural products upward and industrial goods downward is enhancing market consumption potential, with significant contributions to local specialty industries [2] Group 2: Service Network and Capacity - Henan has established a three-tier distribution system comprising provincial hubs, city transfer centers, and county transit sites, enhancing service quality and technological empowerment [3] - The province has built 33 provincial mail and express distribution centers with a maximum daily processing capacity of 109.92 million packages, and 119 city-level centers with a capacity of 24.41 million packages [3] - The express delivery volume in the province is projected to grow by 35.78% in 2023 and 38.01% in 2024, reflecting the robust vitality of the consumer market [3]

Group 1 - Yu Minhong has selected a successor for Dongfang Zhenxuan, with Sun Jin, the vice president of New Oriental Education Technology Group, expected to take over as CEO [3] - ZTE has received several collaboration invitations from major AI model manufacturers, indicating a potential expansion of its AI ecosystem beyond its partnership with ByteDance [5] - Li Auto is merging its first and second product lines following the departure of Zhang Xiao, who is reportedly leaving to pursue entrepreneurial ventures [5] Group 2 - Nvidia plans to deliver its H200 AI chips to Chinese customers before the Lunar New Year, with an estimated shipment of 5,000 to 10,000 chip modules [5] - Mercedes-Benz has officially acquired a stake in Qianli Technology, potentially appointing a board member to enhance collaboration in AI and smart driving technologies [7] - Bilibili has denied rumors of a shift to a fully paid viewing model, leading to the arrest of individuals spreading false information [7] Group 3 - The BMW electric M3 is undergoing road testing, expected to feature 700 horsepower and a four-motor drive system [15] - ByteDance has launched a formal mathematical reasoning model, Seed Prover 1.5, achieving a score that meets gold medal standards in international mathematics competitions [17] - Alibaba has upgraded its voice model Qwen3-TTS, allowing for advanced voice design and imitation capabilities [20] Group 4 - Tesla's new car registrations in Europe have dropped by 28% year-on-year, with a significant decline in the EU market [21] - The number of new AI applications launched in China in the second half of the year reached 205, with a notable focus on in-app AI features [21] - Global smartwatch shipments are projected to grow by 7% by the end of 2025, led by brands like Huawei and Apple [21]

Group 1 - The revised Public Security Administration Punishment Law will take effect on January 1, 2026, with a focus on sealing records of minor offenses, particularly for minors [2][3] - The law aims to prevent the lifelong consequences of a single punishment, providing a framework for sealing minor offense records, which will still be recorded but not publicly accessible [4][5] - The law clarifies the relationship between the Public Security Administration Punishment Law and the Criminal Law, stating that criminal acts must be prosecuted under criminal law, while non-criminal acts are subject to administrative penalties [6][7] Group 2 - The sealing of drug-related records is included in the law, emphasizing that drug use is treated as a violation rather than a crime, with a strong focus on rehabilitation and prevention of drug abuse [8][9] - The government has established a comprehensive system for drug rehabilitation, including voluntary and mandatory rehabilitation measures, and emphasizes the importance of confidentiality regarding the personal information of drug users [9][10] Group 3 - The law has received no objections since its announcement on June 27, 2025, indicating broad acceptance and support from the public [3][4] - The law's provisions are designed to ensure that all citizens are treated equally under the law, reinforcing the principle of equality before the law [2][5]

Core Insights - The express delivery business in Henan province has achieved a cumulative volume of 10.518 billion packages in the first 11 months of the year, marking a year-on-year growth of 29.81%, surpassing the total volume of the previous year [1] - The integration of e-commerce and express delivery is significantly transforming consumer habits and economic operations, contributing to a retail sales total of 2.641515 trillion yuan, with a growth rate of 5.8%, which is 1.8 percentage points higher than the national average [1] - Over 80% of the express delivery volume in the province is derived from e-commerce, with postal and express companies meeting diverse delivery needs driven by live commerce and holiday economies [1] Group 1: Market Resilience - The development of rural delivery logistics is a key driver for the growth of the postal and express delivery industry, with cooperative models enhancing the logistics channels for agricultural products [2] - By the end of November, the postal-express cooperation model had facilitated the delivery of 207.4188 million items, generating revenue of 81.0476 million yuan, with a coverage rate of 88.66% for cooperative villages [2] - The dual flow of agricultural products upward and industrial goods downward is enhancing market consumption potential, with significant contributions to local specialty industries [2] Group 2: Service Network and Infrastructure - Henan has been enhancing the coverage, service quality, and technological empowerment of its postal and express delivery network, establishing a three-tier distribution system [3] - The province has built 33 provincial-level distribution centers with a maximum daily processing capacity of 10.992 million items, 119 municipal centers with a capacity of 2.441 million items, and 576 county-level centers with a capacity of 2.714 million items [3] - The express delivery business in Henan is projected to grow by 35.78% in 2023 and 38.01% in 2024, reflecting the robust vitality of the consumer market [3]

Group 1: Real Estate Policy Changes - Beijing's housing authority and three other departments issued a notice to optimize real estate policies, effective December 24. Non-Beijing households can now purchase homes with reduced social security or tax payment requirements, from "3 years" to "2 years" within the Fifth Ring Road, and from "2 years" to "1 year" outside it. Additionally, families with multiple children can buy one more home within the Fifth Ring Road. The mortgage rate will no longer differentiate between first and second homes, and the minimum down payment for second homes using public funds is reduced to 25% [1] Group 2: Monetary Policy and Economic Support - The People's Bank of China held a monetary policy committee meeting, emphasizing the need to maintain ample liquidity and align social financing growth with economic growth and price expectations. The meeting advocated for a moderately loose monetary policy and increased counter-cyclical adjustments [2] - On December 24, the People's Bank of China and eight other departments released guidelines to support the construction of the Western Land-Sea New Corridor, focusing on financing and settlement functions to enhance high-quality development [2] Group 3: Foreign Investment and Economic Performance - The National Development and Reform Commission and the Ministry of Commerce published the "Encouragement Directory for Foreign Investment Industries (2025 Edition)," effective February 1, 2026, aimed at optimizing foreign investment direction and improving investment quality [3] - From January to November, central enterprises achieved a value-added of 9.5 trillion yuan, a year-on-year increase of 1.4%. The annual labor productivity of central enterprises reached 811,000 yuan per person, up 3% year-on-year [3] Group 4: Investment Trends - On December 24, over 20 LOF funds, including Guotou Silver LOF, experienced a collective surge, with Guotou Silver LOF hitting a premium rate of 68.19% after three consecutive days of gains. The fund announced a temporary trading halt and reduced the minimum subscription limit for Class C shares from 500 yuan to 100 yuan [4] - The Hong Kong stock market is projected to see an IPO scale of 286.3 billion HKD in 2025, regaining the top position globally. The refinancing scale is expected to reach 316.6 billion HKD, significantly surpassing the figures from 2022 to 2024 [4] Group 5: Company Developments - Yundongchu Technology, part of the "Hangzhou Six Little Dragons," has initiated IPO counseling, with CITIC Securities as the advisory firm [6] - Fenglong Co., Ltd. plans to change its controlling shareholder to UBTECH, a leading humanoid robot company, with stock resuming trading on December 25 [6] - Wan Kai New Materials signed a business contract with Lingxin Qiaoshou to provide lightweight components related to humanoid robot arms [7] - Jiaheng Home Care is planning a change in company control, leading to a stock suspension starting December 25 [7]

海南自由贸易港12月18日正式启动全岛封关运作，这是中国扩大高水平对外开放的重要举措。 封关 后，海南将实施"一线放开、二线管住、岛内自由"的监管模式，旨在打造引领新时代对外开放的重要门 户。 "一线"放开后，海南自贸港"零关税"商品税目达到约6600个，比例由21%提高至74%，享惠主体范围也 大幅拓宽。有进口需求的企业，12月18日即可通过海南国际贸易"单一窗口"正式上线的"零关税"申报等 专属功能板块，自主申报。 中国世界贸易组织研究会副会长霍建国在接受21世纪经济报道专访时指出，"十五五"规划建议明确 将"高标准建设海南自由贸易港"作为推动制度型开放和自主开放的核心内容之一。自2018年提出、2019 年形成建设方案以来，海南自贸港历经数年推进，此次全岛封关运作标志着我国高水平开放进入新阶 段，以实际行动印证"中国开放的大门只会越开越大"。 霍建国表示，当前全球贸易环境复杂多变，保护主义抬头，国际贸易体系面临冲击。在此背景下，海南 自贸港对标国际最高开放标准，积极探索高水平开放路径，不仅是中国支持多边贸易体系和自由贸易的 具体体现，也对我国参与国际竞争、优化营商环境、吸引外资、支撑经济发展具有重大意义 ...