蚂蚁双链科技将于可信资产管理平台服务协议的有效期内，授予集团一项于中国使用可信链上SDK产品 的非独家、不可转让、不可转售且不可分割的许可。蚂蚁双链科技将基于集团的业务场景，客制化链上 SDK产品，并向集团科斯提供具备区块链数据记录功能的设备端SDK套件，以供其安装于自动售货机 上。 蚂蚁双链科技主要从事计算机软件的开发、设计、制造与销售，以及网络技术与多媒体技术的研发。 智通财经APP讯，友宝在线(02429)发布公告，于2025年11月20日(交易时段后)，集团与蚂蚁双链科技(上 海)有限公司(蚂蚁双链科技)订立可信资产管理平台服务协议，据此，蚂蚁双链科技同意自行或连同其关 连方及╱或供应商，于蚂蚁数字科技可信资产管理平台上向集团提供服务，包括供应可信链上软体开发 工具(SDK)产品及相关服务与基础设施服务，合约期限为两年，自上述产品及╱或服务交付予或提供予 集团之日起计。 集团主要从事通过遍布中国大陆的庞大友宝点位网络的自动售货机销售快消品，其以数据驱动的运营系 统为支撑。订立可信资产管理平台服务协议使集团将自动售货机数据上链为日后实施加盟商激励计划提 供可信数据支持。 ...

Core Insights - The retail industry has undergone significant changes in recent years, characterized by intense price competition and evolving consumer behavior [2][3][6] - Retailers are increasingly adopting price comparison strategies, leading to a shift in power dynamics between brands and retailers [7][8] - The current retail landscape is marked by three key trends: supermarket adjustments, instant retail growth, and the exploration of private label brands [7][18][25] Group 1: Supermarket Adjustments - Supermarket adjustments have become a frequent term in retail operations, driven by external factors such as population and economic changes [8] - The evolution of the supermarket market in China has been rapid, completing in a fraction of the time compared to the U.S. market, leading to potential instability in foundational business practices [11][15] - Retailers are now focusing on product autonomy and efficient management, breaking away from traditional rules set by brand manufacturers [17][30] Group 2: Instant Retail - Instant retail has seen explosive growth, particularly with the entry of major players like Alibaba, which has transformed the landscape [25][29] - The operational model of instant retail relies on a separation of supply and traffic, necessitating a complex integration of both elements for success [26][27] - Brands must prioritize supply chain management and operational control to thrive in the instant retail environment [29] Group 3: Discount Retail and Private Labels - Discount retail has gained momentum, with leading retailers focusing on optimizing store efficiency and exploring private label opportunities [19][21] - The success of private labels among regional leaders has encouraged other retailers to invest in their own brands, aiming for a balanced product strategy [21][23] - Collaboration between manufacturers and retailers is essential for developing flexible supply chains and customized products [23][24]

Core Insights - The core consumer trend is shifting towards a focus on "quality-price ratio" rather than just "cost-performance ratio," indicating a more rational and health-conscious consumer base [3][5]. Group 1: Consumer Behavior - Consumers are increasingly prioritizing health and quality in their purchasing decisions, moving away from merely seeking low prices [3][5]. - The upcoming "Golden Week" holiday is expected to see a rise in travel and dining experiences that emphasize high "quality-price ratios" [6][8]. Group 2: Retail Landscape - Retail channels that can balance both cost-performance and quality-price ratios are experiencing significant growth, with warehouse membership stores and hard discount stores leading the way [3][4]. - Major retailers like RT-Mart, Hema, and Aldi have been recognized for their strong performance in the fast-moving consumer goods sector [5]. Group 3: Market Trends - The fast-moving consumer goods market is undergoing a reshuffle, with traditional supermarkets facing challenges while innovative retailers thrive [5]. - Emerging travel trends show a preference for high-value destinations and experiences, with a notable increase in hotel bookings for lesser-known locations [8][9].

报告指出，把握越南零售市场需结合市场、消费者、分类和零售洞察，如关注区域差异、韩流影响，优先合适区域与渠道，了解品类趋势，以制定有效策 略。 经济上，越南增长强劲，2020 - 2024年实际GDP增速高于亚太和东南亚平均水平，预计2038年成东南亚第二大、全球第21大经济体。经济增长由工业、建筑 和服务业驱动，农业增速较低。其人口优势显著，总人口1.01亿（东南亚第三），15 - 64岁人口占比65%，吸引大量外国直接投资，2024年新加坡、韩国等 为主要投资者。 零售市场格局有三大要点。一是渠道格局多元，传统贸易（TT）因文化基础仍是食品杂货主要渠道，但不便且难满足现代消费者需求；现代贸易（MT）持 续扩张，大小超市涌现；疫情后线上购物快速增长，消费者形成线上采购习惯。快消品方面，啤酒、香烟、饮料推动长期增长，个人和家庭护理因转向线上 呈下降趋势，2024年各类渠道快消品均反弹，MT重要性提升，且MT门店扩张以小型化为主。二是区域动态差异明显，南部传统贸易对快消品销售额贡献最 大（44.4%），但北部和中部增长更快；三地人口、零售店密度等特性不同，消费者偏好也有别，北方偏爱浓味、大包装，中部受天气和价格影 ...

Core Insights - The Deloitte report titled "2025 Global Retail Power" highlights the dual challenges and opportunities in the global retail sector, with total retail revenue reaching a record high of $6.03 trillion (approximately 43.4 trillion RMB) [1] - The report emphasizes the increasing concentration of the industry and the urgent need for Chinese retail companies to navigate global competition [1] Global Retail Landscape: Growth, Differentiation, and Power Dynamics - The global retail landscape shows a mixed growth pattern, with the top 250 retail companies experiencing a 3.6% year-over-year revenue increase, driven by inflation and structural growth [2] - North America leads with 85 companies contributing 49.2% of global revenue, while Europe has 89 companies at 33.6%, facing challenges from online retail and declining consumer demand [4] - The Asia-Pacific region, with 54 companies contributing 13.8% of revenue, shows potential but lags behind North America and Europe in global revenue share and internationalization [4] Company Performance and Trends - Walmart remains the top global retailer with a revenue of 464.9 billion RMB, leveraging its extensive store network and supply chain efficiency [6] - Amazon ranks second with 180.7 billion RMB in revenue, focusing on a retail-tech ecosystem that enhances consumer experience [7] - SHEIN, a rising star in cross-border e-commerce, reported 219.9 billion RMB in revenue with an 88.2% compound annual growth rate, showcasing its agile supply chain and data-driven fashion model [13][15] Challenges and Strategic Shifts - JD.com, despite being the only Chinese company in the top ten, saw a decline in global ranking, highlighting challenges in market saturation and competition from local players [11] - Alibaba's new retail strategy has faced difficulties, leading to a significant drop in global ranking, as the company shifts focus from heavy asset ownership to platform empowerment [16][17] - Watson's Group has shown resilience in the beauty retail sector, leveraging a multi-channel approach and brand innovation to maintain growth [18] Future Trends and Recommendations - The report identifies four key trends shaping the future of retail: strategic operational efficiency, AI-driven transformation, sustainability, and alternative revenue sources [54][55] - Chinese retail companies are encouraged to embrace these trends to enhance competitiveness in the global market, focusing on globalization, digital transformation, and innovative business models [60][61][62]

Core Insights - The retail industry is undergoing significant transformation driven by the integration of digital technologies, focusing on building intelligent operational systems to promote smart retail growth [1] Group 1: Event Overview - The event "Digitalization Drives Smart Retail Growth New Engine - Tencent Cloud TVP Visits Tsingtao Brewery" was successfully held on May 22-23, featuring experts sharing industry dynamics, technological advancements, and case studies [3] - The event included a visit to Tsingtao Brewery, allowing participants to experience the blend of traditional craftsmanship with modern digital management and production technologies [3] Group 2: Tencent's Role - Tencent Smart Retail aims to assist retailers in achieving digital transformation and comprehensive business growth, providing a platform for open and equal communication among industry partners [6][9] - Tencent's investment in technology and product capabilities is evident, with R&D expenditures reaching 18.9 billion yuan, a 21% year-on-year increase, indicating a strategic move towards the next generation of technology ecosystems [12] Group 3: Tsingtao Brewery's Digital Transformation - Tsingtao Brewery, established in 1903, is the fifth-largest brewery globally and is focusing on digital solutions for the fast-moving consumer goods sector through its subsidiary, Jiuyuan Technology [9] - The digital transformation journey of Tsingtao Brewery includes comprehensive coverage of the end-to-end business chain, utilizing technologies like "one code for one item" for data collection and sharing [15] - The brewery's digital marketing strategy involves creating an integrated service platform for distributors and leveraging a multi-code interconnected data ecosystem to enhance consumer engagement [15] Group 4: Smart Manufacturing and Sustainability - Tsingtao Brewery's smart manufacturing project aims to evolve into a sustainable lighthouse factory by 2024, focusing on personalized cloud customization and end-to-end demand management [24][25] - The brewery has implemented advanced technologies such as supply planning platforms and manufacturing execution systems to support its sustainable development goals [25] Group 5: Industry Trends and Future Outlook - The exploration of AI in retail is shifting from isolated tool applications to a comprehensive reconstruction of the entire supply chain, emphasizing the importance of embracing change and innovation [12] - The concept of "smart enterprises" is evolving, with a focus on replacing repetitive tasks with intelligent systems, allowing human resources to concentrate on higher-value activities [19][20]

Group 1 - The overall market for fast-moving consumer goods (FMCG) in China showed a recovery with a sales growth of 3.8% from January to November 2024, compared to 1.4% in the same period of 2023, driven by a 10.8% increase in online channels and a slight decline of 0.7% in offline channels [1][10][11] - Emerging retail formats such as content e-commerce, discount e-commerce, membership stores, and snack shops experienced significant growth rates of 31%, 35%, 25%, and 20% respectively, while traditional formats like hypermarkets and baby stores faced declines of 10%, 11%, and 7% [1][2][3] - The trend of consumer demand is diversifying, with price sensitivity, experiential needs, and immediacy driving the evolution of retail formats, such as discount supermarkets gaining traction due to price advantages [1][4] Group 2 - The retail channel structure is evolving in three main directions: small-scale formats, fresh produce focus, and discount-driven strategies [4][24] - Small-scale formats are becoming mainstream, with community stores accounting for 52% of modern channels in 2024, up from 46% in 2020, and new store openings increasingly targeting lower-tier cities [1][16][21] - Fresh produce is becoming a core category for supermarkets, with 43% of shoppers visiting hypermarkets for fresh fruits and vegetables, and the growth rate of fresh produce stores significantly outpacing that of other formats [2][38][41] Group 3 - The expansion of discount formats is driven by consumer demand for value, with discount e-commerce and snack shops leading in growth rates [3][4] - Traditional channels are responding by selectively lowering prices on key categories, such as a 12% drop in the average price of packaged eggs and a 25.7% decrease in frozen dim sum prices, while also enhancing their own brand offerings [3][4] - A significant portion of consumers (66%) are willing to spend more on convenience products, and 82% prioritize health attributes in their purchasing decisions [3][4] Group 4 - Key drivers of the retail landscape evolution include demographic changes (urbanization, aging population, smaller households), economic cycles (consumer confidence index at 86.2, down 0.7), and technological advancements (AI and big data optimizing supply chains) [4][19][23] - Looking ahead to 2025, the retail industry should focus on refining differentiated demands, balancing value and price, and enhancing sales quality and efficiency [4][19] - The shift from scale expansion to refined operations is evident, with a focus on innovative formats and deep consumer demand integration to explore sustainable growth paths [4][19]

Core Insights - The article highlights the stark contrasts in living conditions and consumer behavior in major Chinese cities like Shanghai and Shenzhen, reflecting a broader societal shift and economic pressures [3][10][11] Group 1: Housing Market Dynamics - In Shanghai, high-income professionals are living in capsule apartments with rents as low as 800 yuan, while luxury properties are still being sold at high prices, indicating a growing divide in housing affordability [4][8] - Rental prices are projected to rise significantly, with Shanghai's average rent expected to increase by 12% by 2025, while the demand for smaller rental units has surged by 40% [4][6] - The disparity in housing transactions is evident, with luxury home sales increasing by 15% while affordable housing transactions have dropped by 22% [4][8] Group 2: Consumer Behavior Shifts - There is a notable decline in luxury goods sales, with a reported 8% drop in luxury sales in Shanghai, while fast-moving consumer goods under 100 yuan have seen a 25% increase in sales [5][6] - Young professionals are increasingly opting for budget-friendly options, with 62% of urban white-collar workers engaging in "consumption grading," prioritizing essential spending over luxury items [6][9] Group 3: Employment and Office Space Trends - The vacancy rate for office spaces in Shanghai and Shenzhen has reached record highs of 28.7% and 30.5% respectively, while demand for flexible workspaces is rising, with WeWork's occupancy rate at 92% [7][8] - The shift towards flexible employment is evident, with over 500,000 flexible workers in these cities, indicating a transformation in the job market and workspace preferences [7][10] Group 4: Population Movement and Urban Policy - Despite relaxed residency requirements, population growth in Shanghai and Shenzhen has slowed significantly, with net inflows at their lowest since 2019 [8][10] - Many young professionals are reconsidering their living situations, with a 45% increase in job seekers moving from Shenzhen to second-tier cities, driven by high living costs and better opportunities elsewhere [8][9]