1. 12月23日(周二)美股盘前，美股三大股指期货齐跌。截至发稿，道指期货跌0.05%，标普500指数期货 跌0.04%，纳指期货跌0.03%。 3. 截至发稿，WTI原油涨0.17%，报58.11美元/桶。布伦特原油涨0.21%，报62.20美元/桶。 市场消息 美国第三季度GDP今晚公布。美国经济在第三季度可能以较快的步伐增长，这主要得益于稳健的消费 者支出和商业投资。然而，受生活成本上升及近期政府停摆的影响，经济增长的势头似乎已有所减弱。 据调查估计，上季度GDP可能以3.3%的年化率增长。相比之下，第二季度的经济增速为3.8%。美国商 务部经济分析局(BEA)还将公布第三季度企业利润初值以及国内总收入(GDI)，后者是从收入角度衡量 经济增长的指标。无党派的国会预算办公室(CBO)估计，近期的政府停摆可能会使第四季度GDP下降1.0 至2.0个百分点。CBO预计，GDP的大部分下滑最终会得到回补，但预计仍有70亿至140亿美元的损失无 法挽回。尽管即将公布的第三季度GDP数据可能因时间久远而无法清晰反映当前状况，但交易员们也将 关注消费者数据，因为11月份的数据显示消费者信心大幅下滑。 美国银行CE ...

1.12月23日(周二)美股盘前，美股三大股指期货齐跌。截至发稿，道指期货跌0.05%，标普500指数期货跌0.04%，纳指 期货跌0.03%。 | 를 US 30 | 48,339.30 | 48.391.40 | 48,299.80 | -23.40 | -0.05% | | --- | --- | --- | --- | --- | --- | | = US 500 | 6,875.90 | 6,881.80 | 6,867.50 | -2.60 | -0.04% | | 트 US Tech 100 | 25,454.80 | 25,496.10 | 25,411.80 | -6.90 | -0.03% | 2.截至发稿，德国DAX指数涨0.07%，英国富时100指数涨0.02%，法国CAC40指数跌0.22%，欧洲斯托克50指数跌 0.13%。 | 3.截至发稿，WTI原油涨0.17%，报58.11美元/桶。布伦特原油涨0.21%，报62.20美元/桶。 | | --- | | | | 市场消息 收到多份收购提案，以星航运(ZIM.US)盘前涨近9%。以星航运盘前涨近9%，消息面上，美东时间12月22 ...

Core Viewpoint - The return of Alibaba's founder Jack Ma in 2025 symbolizes a pivotal moment for the company as it embarks on a second entrepreneurial journey, emphasizing the importance of technology in serving humanity rather than replacing it [3][12]. Group 1: Jack Ma's Return - Jack Ma made a public appearance on April 10, 2025, at Alibaba Cloud's new fiscal year launch, signaling his official return [3]. - His return aligns with Alibaba's vision to operate as a startup again, as stated in a shareholder letter by Alibaba's chairman and CEO [3]. - Ma's presence has been increasingly frequent, appearing at various company events and public engagements, reinforcing his role as a symbol of confidence for Alibaba's second entrepreneurial phase [4][12]. Group 2: Company Strategy and Actions - Alibaba is focusing on breaking away from past issues, revitalizing its entrepreneurial spirit, and concentrating on core business areas, particularly AI and e-commerce [6][8]. - The company has made significant changes, including divesting non-core assets and restructuring its internal organization to enhance operational efficiency [8][9]. - In the competitive landscape of the food delivery market, Alibaba's Ele.me has seen its market share increase from 13% to 28% in Q2 2025, despite the challenges posed by heavy subsidies [9]. Group 3: AI and Future Growth - Alibaba plans to invest 380 billion yuan in cloud and AI infrastructure over the next three years, which exceeds the total investment of the past decade [11]. - The company aims to achieve a tenfold increase in the energy consumption scale of its global data centers by 2032, indicating a long-term commitment to AI and cloud services [11]. - By Q3 2025, Alibaba's instant retail business revenue grew by 60%, and its cloud intelligence group reported a 34% year-on-year revenue increase, showcasing the effectiveness of its transformation efforts [12].

据报告，抖音电商兴趣产业带超过23500个，其中过去一年订单量超亿的有9个，成交额同比增长近千亿 元。兴趣产业带是平台上贡献增量最多的商家群体。 过去一年，全国各地超过6000个县域兴趣产业带加入抖音电商，平台见证了超过9800家商家销售额从零 增长到百万元，超过200家商家销售额从百万元增长到亿元。其中，涌现了超过9200个新锐品牌，近 1300个新锐品牌的成交额同比增长超过285%。兴趣产业带的快速发展得益于平台算法精准推荐，快速 捕捉到感兴趣的消费者，推动小众商品和传统行业的增长。 抖音电商借助算法推荐，将传统非遗商品精准推送到感兴趣的年轻消费者面前，并通过短视频和直播展 示商品背后的文化故事、工艺细节和使用场景。过去一年，抖音电商兴趣产业带非遗商家销售额同步增 长219%，持续助力非遗"活态传承"。 在抖音电商，消费者已经养成"看后买、搜后买、买后晒"的购物习惯。这种购物模式帮助宠物、玩具、 童装等升级型消费商家精准找到潜在消费者，从而推动销量增长。据报告，过去一年，户外种草视频带 动户外童装面料持续升级，其中三防面料童装销售额同比增长78%，动销货品同比增长超100%。 抖音电商兴趣产业带的发展不仅 ...

Core Insights - The Chinese consumer market is undergoing a significant transformation and reshaping in 2025, with consumption becoming the main driver of economic growth [2][4] - The emergence of new consumption patterns, such as instant retail and the "emotional economy," is reshaping consumer behavior, particularly among Generation Z [2][6] - The "2025 New E-commerce Summit" highlighted the importance of innovation and brand adaptation in navigating the evolving market landscape [4][5] Macro Trends - From January to November 2025, China's total retail sales of consumer goods increased by 4% year-on-year, surpassing the growth rate of the previous year [2] - The summit emphasized the role of new productive forces and expanding domestic demand as key factors for economic growth [7] Industry Highlights - The summit featured over 50 leading consumer brand founders and CEOs, discussing trends in category innovation, instant retail, and market strategies [4][5] - The "2025 New E-commerce Innovation Brand Awards" recognized twelve innovative brands, showcasing the integration of industry rankings and expert evaluations [4][35] Consumer Behavior - The concept of "Happiness" in consumer spending is gaining traction, with brands focusing on creating joyful experiences for consumers [12][14] - The "HHB trend experience paradigm" was introduced, emphasizing Health, Happiness, and Beauty as key elements driving consumer preferences [11][12][13] Brand Innovations - Brands like Xu Cuihua and Phoenix Bicycle are successfully adapting to consumer demands by focusing on emotional satisfaction and product innovation [16][17] - The rise of "颜值经济" (aesthetic economy) reflects the increasing importance of beauty and aesthetics in consumer choices, as seen with brands like Spes and Leifen [19][22] Health and Wellness Trends - Health-conscious products are becoming increasingly popular, with brands like Wuzhou Yogurt capitalizing on clean ingredient trends [24][26] - The health market is expected to see significant growth, driven by younger consumers' changing attitudes towards wellness and preventive care [26][27] Supply Chain and Market Dynamics - The development of China's consumer market is driven by both consumer demand and strong supply chain capabilities [27][29] - The summit highlighted the need for brands to leverage digital transformation and marketing knowledge to enhance visibility and trust in the market [27] Recognition and Awards - The summit served as a platform for recognizing outstanding brands and innovative practices within the industry, reinforcing the importance of innovation in driving growth [35][36] - The "2025 Industry Internet Top Ten Brands" award was presented to companies demonstrating exceptional capabilities in product quality and supply chain stability [33][35]

Core Viewpoint - Pinduoduo has announced a significant organizational reform and strategic goal to "recreate Pinduoduo in the next three years," supported by the establishment of a co-chairman system and the impressive performance of its cross-border e-commerce platform, Temu, which achieved a GMV of 168 billion yuan in Q3 2025, a 42% year-on-year increase [1][2] Group 1: Organizational and Strategic Developments - The establishment of a co-chairman system and the focus on supply chain optimization signify Pinduoduo's commitment to enhancing its organizational structure and strategic direction [1][2] - Temu has rapidly expanded its market presence, achieving a scale in three years that took Pinduoduo's domestic platform ten years to reach, indicating a successful global market entry [1][2] Group 2: Supply Chain and Brand Development - Temu's growth reflects the successful practice of Chinese supply chains going global, leveraging cost advantages and manufacturing capabilities [2][3] - Pinduoduo is shifting from a model of OEM to supporting factories in developing their own brands, resulting in a nearly 50% increase in pricing and profit margins for some manufacturers [4][5] Group 3: Digital Transformation and Market Adaptation - The platform's digital capabilities are crucial in guiding factories through the entire process from product design to brand registration, ensuring alignment with overseas consumer preferences [5][7] - A closed-loop mechanism of "market demand-data feedback-product iteration" is transforming traditional manufacturing, allowing for higher value products that go beyond just cost-effectiveness [7][8] Group 4: Industry Impact and Future Outlook - Pinduoduo's initiatives align with the digital transformation needs of the real economy, enabling a direct connection between consumers and manufacturers, thus reducing costs and fostering innovation [7][8] - The transition from OEM to self-branded products is essential for enhancing product value and achieving precise supply-demand matching in the global market [7][8]

Core Insights - The article discusses the evolving landscape of brand marketing strategies for the upcoming Year of the Horse, emphasizing the need for brands to move beyond simple phonetic puns to create deeper emotional connections and narratives [2][5][17] Group 1: Phonetic Puns in Marketing - Phonetic puns have become a standard marketing tactic due to their memorability and shareability, but as brands increasingly adopt this approach, it risks leading to creative fatigue and homogenization [2][3] - Effective phonetic marketing should serve value communication, integrating the zodiac element into the brand story rather than being a detached wordplay [5][11] Group 2: Cultural and IP Integration - Advanced brand marketing strategies are shifting towards nuanced scene insights and value anchoring, leveraging cultural symbols or high-energy IPs to enhance brand visibility [6][7] - Collaborations with high-energy IPs can facilitate "energy exchange," allowing brands to transfer recognition and goodwill from the IP to their own brand assets [7] Group 3: Long-term Brand Asset Development - The highest level of marketing not only utilizes cultural IPs but also transforms cultural symbols into brand assets, requiring brands to establish a long-term, systematic cultural expression framework [11][14] - Successful examples, such as Nongfu Spring's zodiac water series, illustrate how brands can create lasting cultural value through consistent and innovative engagement with traditional symbols [13][14]

这起盗窃案在12月22日上午被发现。一位仓库负责人发现有人破门而入，偷盗走30多个仓库货架的商 品。根据法国警方的剿匪大队（BRB）的初步调查结果，窃贼在12月21日晚间至12月22日凌晨之间作 案，并故意破坏了仓库的监控摄像头，警报系统无法正常运转。 【#京东法国仓库被盗#，#京东在法被盗商品或价值超3亿元#】据当地媒体12月22日报道，京东位于法 国塞纳-圣但尼省的仓库遭窃，超过5万台3C数码设备（包括手机、电脑和平板电脑）被盗，价值约为 3700万欧元，折合人民币3.06亿元。 对于这一事件，截至发稿，京东尚未回应。 ...

今年京东重新整理了在欧洲市场的业务，并加大投入力度。3月10日，京东宣布与欧洲足球协会联盟 签署合作协议，成为欧冠联赛官方电商创新合作伙伴，并表示"希望通过此次合作，能让更多欧洲的 朋友深入认识和了解京东"。4月9日，京东宣布其欧洲线上零售业务启动母婴和玩具品类国际品牌和 出海品牌招商。同时，京东已在伦敦地区测试运营欧洲线上零售品牌Joybuy。 2025.12. 23 本文字数：1177，阅读时长大约2分钟 作者 | 第一财经 陆涵之 据当地媒体12月22日报道，京东位于法国塞纳-圣但尼省的仓库遭窃，超过5万台3C数码设备（包 括手机、电脑和平板电脑）被盗，价值约为3700万欧元，折合人民币3.06亿元。 这起盗窃案在12月22日上午被发现。一位仓库负责人发现有人破门而入，偷盗走30多个仓库货架的 商品。根据法国警方的剿匪大队（BRB）的初步调查结果，窃贼在12月21日晚间至12月22日凌晨 之间作案，并故意破坏了仓库的监控摄像头，警报系统无法正常运转。 对于这一事件，截至发稿，京东尚未回应。 从布局看，近两年来京东积极出海，重点聚焦欧洲市场。2022年，京东在欧洲市场推出全渠道零售 品牌Ochama，包括 ...

大家好，欢迎回到《美股笔记》。今天是12月22日，周一。 周一，圣诞周正式拉开帷幕，美股三大指数高开高走，全线收涨！大型科技股普遍反弹，市场对AI支 出过快的担忧暂时消退，资金风险偏好高涨。 | 首页 | 概念板块 | 财报日历 | 新股中心 机构遗漏 财经日历 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 道理斯指数 | | | | 纳斯达克维合指数 | | | | 标雷500指数 | | | | | 48362.68 | THE COLOR SEAL | | | 23428,83 | | | | 6878.49 | MANIN | | | | +227.79 +0.47% | | | | +121 21 +0.52 | | | | #43 88 +0 PM | | | | | 领涨榜 盘中 ▼ | | | 更多 > | 讀錄 · · | | | 更多 > | 热力圈 行业 个股 | | | 更多:> | | 代初 | 长佛 | 高跌幅量 | 圆新纹 | 代码 | 名 ...