上海知识产权法院二审判决书指出，京东养车实施的"震虎价"低价营销活动，宣传标语中所谓的"价格 比友商低5%"，容易使消费者在特定场景下产生误解，属于虚假宣传行为，"震虎价"系列营销活动本身 也属于商业诋毁行为，这两种行为均构成不正当竞争。法院判令京东养车立即停止对途虎养车的不正当 竞争行为。除此之外，上海知识产权法院还判决京东养车赔偿途虎养车经济损失500万元，并要求京东 养车在判决生效之日起十日内，在"京东汽车"的微信公众号、视频号、微博，京东汽车官方旗舰店抖音 号及京东养车App连续10日刊登声明，消除对途虎养车的侵权影响。 途虎养车相关人士表示："我们已经收到了对方的赔偿款，但是对方尚未发布符合判决要求的消除侵权 影响的声明。作为中国汽车服务行业的先行者，途虎养车一贯严格遵守国家法律及行业法规，并积极响 应国家提出的反'内卷式'恶性竞争，致力于通过科技创新，不断提升广大车主的消费体验。关于此次判 决结果，我们感谢国家司法系统的公正，未来途虎养车将继续坚持初心，严格自我要求，推动行业高质 量发展。我们愿与广大遵纪守法的行业伙伴一起，持续建设繁荣健康的汽车后市场生态。 "（新浪科 技） 【#京东养车被判赔偿 ...

智通财经APP获悉，2025年8月4日，京东养车在其官方账号"京东汽车"发布《声明》，称"上海知识产权法院认定三被告在涉及到'震虎价'宣传活动中的相关 行为构成不正当竞争，现特此声明，以消除影响。"据记者了解，2025年7月21日，上海知识产权法院已就"震虎价"一案做出终审判决，途虎养车胜诉，驳回 京东养车的上诉请求，判决现已经生效。法院认定"京东养车实施了商业诋毁以及虚假宣传行为，不仅构成不正当竞争，且使消费者在特定场景下产生误 解。" 途虎养车(09690)与京东养车的不正当竞争纠纷始于2023年9月，当时，京东养车以"震虎价"为宣传核心标语，并以此展开了一系列营销活动。2024年1月， 途虎养车正式起诉京东养车不正当竞争，诉讼持续近两年。 记者查阅了上海知识产权法院二审判决书，判决书明确指出，京东养车实施的"震虎价"低价营销活动，宣传标语中所谓的"价格比友商低5%"，容易使消费 者在特定场景下产生误解，属于虚假宣传行为，"震虎价"系列营销活动本身也属于商业诋毁行为，这两种行为均构成不正当竞争。法院判令京东养车立即停 止对途虎养车的不正当竞争行为。 除此之外，上海知识产权法院还判决京东养车赔偿途虎养车经济 ...

Core Viewpoint - The ongoing legal dispute between Tuhu and JD Auto regarding the "Zhenhu Price" has led JD Auto to cease using the related marketing content, while simultaneously launching a significant subsidy campaign to enhance customer experience and attract new users [1][2]. Group 1: Legal Developments - JD Auto announced that the "Zhenhu Price" is involved in ongoing litigation, and they have stopped using related marketing materials [1]. - Tuhu Auto filed a lawsuit against JD Auto, claiming that the "Zhenhu Price" damages its reputation [2]. - JD Auto maintains that "Zhenhu" is a registered trademark and that the pricing strategy was not aimed at any specific competitor [2]. Group 2: Marketing and Subsidy Initiatives - JD Auto has launched a 5 billion yuan subsidy campaign, offering significant discounts on services such as tire purchases and maintenance [1][2]. - The subsidy program includes promotions like "500 off 250" for tire purchases and "200 off 399" for maintenance services, with limited-time offers available each night [1]. - JD Auto is also introducing a "365 Worry-Free Purchase" service, allowing customers to use their subsidies flexibly over a year [1]. Group 3: Community Engagement - JD Auto is inviting users to participate in a naming contest for a new branding initiative, with the chance to win an iCAR V23 family vehicle usage right [3]. - The company aims to engage customers in rebranding efforts to avoid misunderstandings related to the "Zhenhu Price" [3].

（原标题：时隔两年，途虎养车胜诉"震虎价"案） 8月4日，上海市闵行区人民法院对途虎养车起诉京东养车等三被告的不正当竞争纠纷案作出一审判决， 认定京东养车推出的"震虎价"营销活动构成不正当竞争，途虎养车诉讼请求获法院支持。至此，这场持 续近两年的行业商业诋毁纠纷正式落槌。此外，据京东汽车官方发布公告显示，针对上海阑途信息技术 有限公司起诉北京汽广行信息技术有限公司、北京京东世纪贸易有限公司、北京京东世纪信息技术有限 公司不正当竞争纠纷案件，上海知识产权法院认定三被告在涉及到"震虎价"宣传活动中的相关行为构成 不正当竞争，现特此声明，以消除影响。 ...

微博正文 on ( ··· 京东汽车 窗 25-8-4 16:15 来自 微博网页版 发布于 北京 【声明】 针对上海阑途信息技术有限公司起诉北京汽广行信 息技术有限公司、北京京东世纪贸易有限公司、北 京京东世纪信息技术有限公司不正当竞争纠纷案 件,上海知识产权法院认定三被告在涉及到"震虎 价"宣传活动中的相关行为构成不正当竞争,现特 此声明,以消除影响。 十天河 "虽然我们已经注册了京东震虎和京东养车震虎的商标，但为了避免再次被误解，我们也想让大家帮忙 出出主意，起一个新名字，"京东养车负责人表示。 责任编辑：何俊熹 新浪科技讯 8月4日下午消息，途虎养车诉京东养车"震虎价"一案又有新进展。今日，京东汽车在社交 平台发布官方消息称，"针对上海阑途信息技术有限公司起诉北京汽广行信息技术有限公司、北京京东 世纪贸易有限公司、北京京东世纪信息技术有限公司不正当竞争纠纷案件，上海知识产权法院认定三被 告在涉及到'震虎价'宣传活动中的相关行为构成不正当竞争，现特此声明，以消除影响。" 京东养车相关负责人回应称，"很遗憾友商认为'震虎价'对他们产生了影响，但'震虎价'只是一个名字， 不会影响京东养车坚持提供又好又便宜养 ...

Group 1: Core Insights - The Beijing Municipal Government has issued a plan aiming for an average annual growth of around 5% in total market consumption by 2030, with the goal of establishing 2-3 new consumption landmarks worth over 100 billion yuan [1] - The plan includes 24 tasks across six areas, focusing on enhancing consumer spending, particularly in the automotive sector, by optimizing car purchase policies and expanding the automotive aftermarket [1][3] Group 2: Automotive Consumption Ecosystem - The plan emphasizes the need to create a new automotive consumption ecosystem, which includes optimizing small car indicator allocation to better serve family vehicle needs [1][3] - Measures have been introduced to support the second-hand car market, such as implementing "reverse invoicing" and facilitating cross-regional transaction registrations [3][4] - The automotive aftermarket is recognized as a significant contributor to consumption, with plans to expand areas like car modification, rentals, and events to stimulate demand for new energy vehicles [4][5] Group 3: Policy and Market Dynamics - The introduction of the lottery system for car purchase indicators in 2011 was a response to the rapid increase in vehicle ownership, which has led to traffic congestion and pollution [2] - Recent adjustments to the lottery system include prioritizing families without cars and extending the validity of car purchase indicators from six months to one year [3] - The second-hand car market faces challenges such as information opacity and complex transaction processes, which the plan aims to address through improved transparency and standardized evaluation [3][4]

Core Insights - The automotive aftermarket in China is rapidly expanding due to increasing vehicle ownership and personalized demands from younger users [1][3] - The "brand collective procurement" model introduced by Dongche Emperor aims to enhance lead conversion efficiency and reduce operational costs for chain merchants [1][3] Group 1: Market Dynamics - The automotive aftermarket, particularly in film modification, has a market size exceeding 150 billion yuan in 2024, with over 80,000 stores [3] - Despite the growth, the sector faces structural challenges such as low customer acquisition efficiency and uneven service capabilities [3][4] Group 2: Brand Collective Procurement Model - The "brand collective procurement" model focuses on centralized traffic operation by headquarters while allowing stores to concentrate on service fulfillment, transitioning from "single-store operations" to "organizational collaboration" [3][4] - A set of tools based on the Douyin ecosystem supports this model, including strategies for store identification and revenue-sharing mechanisms [3] Group 3: Implementation and Impact - Pilot data shows a 410% year-on-year increase in cooperating stores, a 170% rise in potential customers, and an average operational cost reduction of about 31% [1] - The "Super Brand Plan" aims to support the transition of five super brands, ten leading brands, and twenty potential brands towards standardized operations [3] Group 4: Future Outlook - The market for film modification is transitioning from high growth to a consolidation phase, with standardization of operational models becoming a key variable for the industry's long-term landscape [4] - The collaboration among platforms, brands, and stores is seen as a critical pathway for scaling and standardizing the automotive aftermarket [4]

Core Viewpoint - Daotong Technology (688208.SH) has reported significant growth in its operating performance for the first half of 2025, with a substantial increase in net profit compared to the previous year [1][2]. Financial Performance - The company expects its net profit attributable to shareholders, excluding non-recurring gains and losses, to reach between 455 million to 485 million yuan, representing a year-on-year increase of 16.58 million to 19.58 million yuan, with a growth rate of 57.32% to 67.69% [1]. - The total net profit is projected to be between 460 million to 490 million yuan, an increase of 7.34 million to 10.34 million yuan, with a growth rate of 19.00% to 26.76% [1]. - After excluding non-recurring gains and losses and share-based payment expenses, the net profit is expected to rise to between 470 million to 508 million yuan, with a growth rate of 62.51% to 75.65% [1]. AI Strategy Integration - The significant growth in performance is attributed to the company's ongoing "full embrace of AI" strategy, which enhances product competitiveness and profitability while opening new growth avenues [2]. - In the digital repair sector, the launch of the new Ultra S2 diagnostic terminal and ADAS calibration system has improved diagnostic accuracy and efficiency, leading to rapid growth in this business segment [2]. Market Demand and Product Performance - The TPMS product line has also shown strong performance, driven by increasing global vehicle ownership and heightened consumer focus on driving safety, resulting in high sales growth [2]. - In the smart energy sector, the introduction of a new intelligent charging solution has positioned the company favorably in global markets, particularly in Europe and the U.S., with significant orders from top clients [3]. Robotics Business Outlook - The company is actively exploring opportunities in the AI robotics field, which is on the verge of large-scale application, with trends indicating deeper technology integration and expanded application scenarios [4]. - Collaborations with technology giants are being pursued to build comprehensive solutions in the inspection domain, which will support the future scalability of the robotics business [4]. Internal Management Innovations - The company is implementing AI-driven management transformations across core business areas, enhancing operational efficiency and achieving dual improvements in management innovation and organizational capability [4].

Investment Rating - The report maintains an optimistic outlook for the Hong Kong stock market, particularly for new IPOs and sectors like new consumption and innovative pharmaceuticals [8]. Core Insights - The report highlights that the recent subsidies from food delivery e-commerce platforms directly benefit coffee, tea, and advertising channels [8]. - The education sector remains robust, with leading institutions expanding market share and developing AI products for international education [3][19]. - The luxury goods sector is experiencing slight pressure from macroeconomic factors, but brands with strong innovation capabilities are still seeing growth [20]. - The coffee and tea industry is in a growth cycle, with coffee demand remaining strong, while tea faces short-term challenges due to increased competition [27]. - E-commerce is under pressure with slowing growth rates, but instant retail is emerging as a new battleground [31]. - The travel and OTA sectors are seeing limited impact from recent subsidies, with a focus on undervalued leading players [8]. - Music streaming platforms are identified as quality internet assets driven by domestic demand, with ongoing developments in subscription services [36]. - The virtual asset market is on an upward trend, supported by traditional financial institutions entering the space [40]. - The real estate market is under pressure, particularly in major cities, with a focus on opportunities in companies like Beike [8]. - The automotive service market is experiencing a decline, with a continued focus on ecosystem changes [8]. Summary by Sections 1. Education - The K12 education sector remains highly prosperous, with leading institutions reporting good summer enrollment progress and a focus on AI product development [3][19]. - The education index saw a decline of 1.78% during the reporting period, outperforming the Hang Seng Technology Index but underperforming other major indices [10]. 2. Luxury Goods - The luxury goods sector is slightly pressured by macroeconomic factors, with notable growth in brands with strong innovation [20]. - Key luxury stocks showed positive performance, with Samsonite and Prada increasing by 5.61% and 6.09% respectively [20]. 3. Coffee and Tea - The coffee sector remains in a growth cycle, with strong demand and a high frequency of consumption [27]. - The tea sector faces short-term challenges due to increased competition and supply growth [27]. 4. E-commerce - The e-commerce sector is experiencing a slowdown, with significant competition impacting profitability [31]. - Instant retail is becoming a new focus, with major platforms launching aggressive subsidy plans [31]. 5. Travel and OTA - The travel sector is seeing limited impact from subsidies, with a focus on undervalued leading players [8]. 6. Music Streaming - Music streaming platforms are identified as high-quality assets driven by domestic demand, with ongoing developments in subscription services [36]. 7. Virtual Assets - The virtual asset market is on an upward trend, with traditional financial institutions increasingly entering the space [40]. 8. Real Estate - The real estate market is under pressure, particularly in major cities, with a focus on opportunities in companies like Beike [8]. 9. Automotive Services - The automotive service market is experiencing a decline, with a continued focus on ecosystem changes [8].

Core Viewpoint - The article highlights the five-year anniversary of the Mobil 1 automotive maintenance brand, emphasizing its transformation and commitment to high-quality development in the automotive aftermarket in China [1][12]. Company Development - Mobil 1 automotive maintenance brand was launched in July 2020, aiming to drive the advancement of the automotive aftermarket in China [1]. - As of Q1 this year, the number of Mobil 1 service stores has exceeded 1,300, covering 251 cities, with over half of the vehicles serviced being mid-to-high-end models priced above 200,000 yuan [3][4]. - The company has initiated the "Star Alliance Plan" to enhance brand strength, marketing capabilities, and operational efficiency, alongside a new energy strategy [3][6]. Market Dynamics - The automotive aftermarket has seen a significant increase in private car ownership, with approximately 100 million more vehicles, leading to market expansion but also intensified competition [4][9]. - The competition is not only based on price but also on service quality, technological innovation, and brand influence [4]. Strategic Initiatives - The "Star Alliance Plan" focuses on evolving three core competencies: brand strength, marketing capabilities, and operational support, with a particular emphasis on enhancing operational capabilities [6][8]. - A digital system has been developed to analyze store operations and identify improvement opportunities, helping to standardize management while maintaining local store characteristics [6][7]. New Energy Market - The rise of the new energy vehicle (NEV) market has prompted Mobil 1 to launch a new energy strategy, introducing products specifically for electric vehicles, including lubricants and coolants [9][10]. - The company has established a partnership with the China Automotive Maintenance Industry Association to create standards for electric vehicle oil and fluid services, aiming to standardize the NEV aftermarket [10]. Industry Context - The high-quality development of the automotive aftermarket is a systematic initiative in China, supported by government guidelines aimed at fostering a healthy industry ecosystem [12]. - Mobil 1's commitment to building a collaborative and sustainable automotive maintenance ecosystem aligns with national goals to transition from scale expansion to quality coexistence in the automotive aftermarket [12].