清晨，阳光洒向平江路的青石板，外卖小哥骑着电动自行车穿梭在小区楼栋之间；午后，石路商圈 山塘景区人流如织，快递员的身影奔跑在商户与高楼中；夜晚，华灯初上勾勒出十全街一片霓虹璀璨， 网约车司机点亮车灯守护城市"夜归人"的出行平安…… 在姑苏区，1.6万余名新就业群体用奔波的身影勾勒出古城的烟火气，而这座千年古城也以全方位 关爱，将温暖藏在了对城市奔跑者的服务细节里。昨天（11月27日），姑苏区新就业群体权益维护人民 调解委员会揭牌成立，新就业群体社会工作服务中心同步启用，"暖'新'姑苏"云驿站正式发布。姑苏区 以权益保障、共建共治、服务供给等系列举措织密暖心保障网，让奔波在配送、快递、网约车等领域的 劳动者真切感受到"生活在这里很有福气"。 服务供给有温度 云驿站构筑15分钟暖"新"圈 昨天，在姑苏区白洋湾街道虎池苑社区幸福小厨，货车司机张师傅点了一份15元"暖新套餐"，两荤 一素，暖胃更暖心。"我在传化公路港卸货，用小程序搜了下附近小哥食堂，一键查询导航很方便。"张 师傅说。 张师傅提到的小程序，正是姑苏区创新推出的"暖'新'姑苏"云驿站。 "新就业群体工作最大的特点是'奔波在路上、工作在云端'，因此，暖'新 ...

机构：中金公司 研究员：冯启斌/白洋/罗欣雨/张文杰/刘钢贤/吴维佳/焦莞 3Q25 业绩符合我们预期 公司公布3Q25 业绩：营收550.8 亿元，同比+24%；non-IFRS净利润20.2 亿元，同比-21%；non-IFRS 净 利润率3.7%，同比下降2.1ppt。3Q 业绩符合我们预期，收入高增主要受益于全职骑手参与京东外卖配 送服务、集团零售业务增长；利润短期承压主要由于公司为外卖配送等业务提前投入资源、前置成本增 加。 发展趋势 内外单有序拓展、京东外卖贡献收入，一体化供应链业务收入显著增长。3Q 一体化供应链客户收入同 比+46%至301 亿元，其中：①来自京东集团收入同比+66%至212 亿元，主要受益于京东外卖配送服务 带来增量收入，以及集团零售业务增长。②3Q外部一体化供应链客户收入同比+13%至89 亿元，客户数 和单客户收入分别同比+13%、+1%，服务能力有序提升。3Q 其他业务收入249 亿元，同比+5.1%，快 递快运业务量较稳健增长。 前置资源投入导致成本上涨，3Q 利润率短期承压，后续有望边际改善。公司参与外卖配送致人工成本 上涨，3Q25 员工薪酬福利开支同比+50%至 ...

Group 1 - Yu Minhong, the founder of New Oriental, issued an apology letter to all employees after a previous internal letter caused controversy, explaining that his use of Antarctic references was not meant to boast but to share his experiences sincerely [4][5] - The apology letter emphasized the importance of mutual support between employees and the company, encouraging staff to maintain the company's image and resolve grievances internally [4][5] Group 2 - Zhang Junjie, the founder of Bawang Tea, confirmed his marriage and refuted rumors about his past, stating that he had never been married before meeting his wife and addressing the impact of false narratives on his family and business [7][8] - Zhang expressed the need to protect his family's reputation and urged the public not to spread rumors, highlighting the emotional toll these stories have taken on him and his loved ones [7][8] Group 3 - Intel's CEO Chen Lifeng denied rumors regarding a former TSMC executive allegedly taking confidential 2nm technology to Intel, asserting that such claims are baseless and emphasizing respect for intellectual property [9] - TSMC is reportedly conducting an internal investigation into whether the former executive misappropriated company secrets before his retirement [9] Group 4 - Meituan announced a plan to invest 10 billion yuan over the next five years to enhance rider protection, including the establishment of "rider apartments" in major cities [10] - The initiative aims to address the welfare needs of riders and expand the coverage of existing support programs for their families [10] Group 5 - The Ministry of Industry and Information Technology of China projected that the output value of civil aviation products will exceed 160 billion yuan in 2024, representing a year-on-year growth of 23.6% [23] - The ministry plans to promote the development of the civil aircraft industry and low-altitude equipment, focusing on technological innovation and integration with emerging industries [23]

央视网消息：11月22日8点05分，CZ8007次航班从乌鲁木齐天山国际机场起飞，直飞吉尔吉斯斯坦第二大城市奥什，标志着乌鲁木齐至奥 什定期国际客运航线正式通航。 南京南隧道盾构段长约2.4公里，先后下穿农花河、机场高速、秦淮新河等区域，沿线地质复杂、地表建筑物密集，项目团队采用"微扰动 掘进+精准导向"技术，确保安全掘进。宁芜铁路以货运为主、兼顾客运，是提升长江经济带东段货运能力的重要基础设施，也是沿江铁路通 道的重要组成部分。其扩能改造工程将原本穿南京城而过的路段外迁至城市外围，并新建南京南隧道等关键节点，建成后将进一步优化区域铁 路网布局，助力沿线地区产业结构升级调整。 山东东营：首批98张低速无人配送车牌照发放 清晨6点左右，计划搭乘乌鲁木齐至奥什首航航班的中外旅客，陆续抵达乌鲁木齐出入境边防检查站出境大厅，有序办理出境手续。该航 线计划每周六执行往返一班，空中飞行时长约2小时30分钟，大幅缩短两地间的出行时间。 这是我国目前唯一一条直飞吉尔吉斯斯坦奥什的空中通道，也是乌鲁木齐天山国际机场继比什凯克航线之后，开通的第二条通往吉尔吉斯 斯坦的国际客运航线。 据了解，截至11月22日，今年从乌鲁木齐天山国 ...

Group 1 - The core message emphasizes the importance of community engagement and support for new employment groups in Lianyungang, showcasing the city's commitment to improving their quality of life through various initiatives [1][2][3] - The "Lianxin e Family" brand was established to connect the needs of new employment groups with city management, resulting in a significant increase in their sense of belonging and satisfaction [1] - A television program titled "Social Work Face to Face" was launched to address the concerns of delivery workers, leading to the identification of 62 issues and the implementation of 15 measures to enhance their working conditions [1] Group 2 - The establishment of the "Lianxin Canteen" addresses dining challenges for new employment groups, while mental health support is provided through a tailored assessment and intervention program [2] - Over 1,200 activities have been conducted under the "Lianxin Warm" initiative, benefiting more than 50,000 new employment group members through various forms of assistance [2] - The city has upgraded the "Lianxin Code" to 2.0, forming volunteer service teams and integrating new employment group members into community governance, transforming them from service recipients to active contributors [2][3]

Core Insights - The 17th "Double 11" event concluded with a total sales volume of 1.619 trillion yuan, marking a year-on-year growth of 12.3% [1] - Instant retail emerged as the biggest surprise this year, with a total sales volume of 67 billion yuan, experiencing a staggering year-on-year increase of 138.4% [1] - The promotional period was strategically extended this year, showcasing new characteristics such as slowing growth, simplified gameplay, and deeper value cultivation [1] E-commerce Performance - The overall sales performance of e-commerce platforms during "Double 11" was robust, with instant retail becoming a core growth driver amid peak traffic [1][4] - Major platforms like Taobao, JD, and Meituan actively expanded their instant retail offerings, with Taobao linking over 37,000 brands and 400,000 stores [4] - The trend of consumers opting for high-priced items through instant delivery services is on the rise, indicating a shift in consumer behavior [4] Delivery and Logistics - SF Express's data indicated that daily order volume for same-city delivery increased by over 50% compared to last year during "Double 11" [3] - The demand for instant delivery services surged, with significant growth in food and beverage categories, particularly drinks and fast food, which saw increases of over 160% and 110% respectively [4][6] - The logistics sector faced immense pressure, with a total of 13.938 billion express deliveries recorded during the event, leading to innovative solutions like the deployment of over 800 unmanned vehicles for last-mile delivery [7][9] Technological Innovations - The use of unmanned vehicles in logistics has become a focal point for enhancing delivery efficiency, with SF Express deploying these vehicles in over 100 cities [7] - Collaboration with public transport systems, such as converting idle bus stations into delivery hubs, has improved sorting efficiency by over 30% [9] - The integration of advanced logistics infrastructure is crucial for meeting the evolving demands of instant retail and ensuring stable delivery performance [9]

Core Viewpoint - The collaboration between Wuhan's Jiang'an District government, Yum China (Wuhan), and SF Express aims to establish a "smart Jiang'an" through an innovative unmanned delivery project that leverages drones, unmanned vehicles, building robots, and smart food pickup cabinets to enhance delivery efficiency and safety for residents [1] Group 1: Project Overview - The unmanned delivery project is designed to overcome environmental limitations such as weather and traffic, providing residents with a convenient and safe unmanned dining experience [1] - The project integrates various technologies, including drones and ground vehicles, to create a comprehensive "air and ground" unmanned delivery solution that operates 24/7 [1] Group 2: Operational Efficiency - The unmanned delivery solution is expected to improve delivery efficiency by over 50% and achieve zero carbon emissions through the use of fully electric vehicles [1] - The contactless delivery method enhances food safety, ensuring that meals are delivered securely to customers [1] Group 3: Future Prospects - The partnership aims to extend the unmanned delivery model to other urban service areas, contributing to the development of smart cities [1] - The "human-machine collaboration and multi-dimensional complementarity" operational model has the potential for broader applications in various urban services [1]

Core Insights - The 11th China Graduate Smart City Technology and Creative Design Competition was held from November 8 to 10 at Wuhan University, focusing on promoting innovation in low-altitude economy and robotics [1] - The event featured government presentations and theme reports from scholars and industry representatives, aiming to facilitate project signings and technology transfer in smart city initiatives [1] - A cooperation agreement was signed between Jiang'an District Government, Yum China (Wuhan), and SF Express for an unmanned delivery project, marking a new chapter in "Smart Jiang'an" construction [1] Group 1 - The unmanned delivery project utilizes drones, unmanned vehicles, building robots, and smart food lockers to provide a convenient and safe delivery experience, overcoming environmental limitations such as weather and traffic [1][2] - The collaboration aims to enhance service coverage and delivery efficiency, particularly in challenging scenarios like nighttime or adverse weather conditions [2][3] - The system is designed to operate 24/7, improving delivery efficiency by over 50% while achieving zero carbon emissions through electric-powered operations [2][3] Group 2 - The logistics system includes a dedicated drone takeoff and landing area for efficient order processing and rapid preparation [3] - The unmanned delivery process involves drones delivering to smart lockers, with building robots handling the last-mile delivery, ensuring a contactless experience for residents [3] - The integration of advanced navigation and obstacle avoidance technologies allows drones to bypass ground traffic, ensuring timely delivery [3] Group 3 - The "Smart Brain" of the delivery system, developed by SF Express, leverages AI and big data to optimize order predictions and resource allocation [4] - The system enhances operational efficiency by continuously monitoring and adjusting delivery routes and strategies [4] - The showcased delivery solution addresses common delivery challenges, such as congestion and high-demand periods, by utilizing drones for rapid transport [4] Group 4 - SF Express has expanded its unmanned delivery technology into various commercial applications, including medical emergency transport and campus delivery services [5] - The collaboration aims to create a comprehensive smart delivery system that integrates aerial and ground delivery methods [5] - Future prospects include expanding the "human-machine collaboration" model to more urban service areas, supporting smart city development [5]

Core Viewpoint - The collaboration between the Jiang'an District Government of Wuhan, Yum China (Wuhan), and SF Express aims to establish a "Smart Jiang'an" initiative through the integration of various unmanned delivery technologies, enhancing delivery efficiency and sustainability [1] Group 1: Project Overview - The project involves a partnership to develop an unmanned delivery system that combines drones, unmanned vehicles, building robots, and smart food pickup cabinets [1] - The initiative is designed to provide a comprehensive "air + ground" delivery solution, ensuring full automation and precision in the delivery process [1] Group 2: Operational Benefits - The unmanned delivery system is not affected by weather changes or complex road conditions, allowing for stable service availability 24/7 [1] - Delivery efficiency is expected to improve by over 50% due to the implementation of this system [1] - The use of fully electric vehicles ensures zero carbon emissions throughout the delivery process [1] Group 3: Safety and Convenience - The contactless delivery method enhances food safety for consumers [1]

Core Insights - The 11th China Graduate Smart City Technology and Creative Design Competition was held from November 8 to 10 at Wuhan University, focusing on promoting innovation in low-altitude economy and robotics [2] Group 1: Event Overview - The competition aimed to drive the transformation of innovative achievements in low-altitude economy and robotics in Wuhan [2] - Various district governments showcased their regional advantages and industrial foundations during the event [4] Group 2: Project Collaborations - On November 10, the Jiang'an District Government signed a cooperation agreement with Yum China (Wuhan) and SF Express for an unmanned delivery project, marking a new chapter in "Smart Jiang'an" [4] - The project will utilize drones, unmanned vehicles, building robots, and smart food cabinets to provide convenient and safe unmanned delivery services, overcoming environmental constraints like weather and traffic [4][6] Group 3: Delivery System Features - The unmanned delivery system integrates multiple devices to create a "sky and ground" delivery solution, achieving fully automated and refined delivery [7] - The system is designed to operate 24/7, improving delivery efficiency by over 50% while ensuring zero carbon emissions through electric drives [7] Group 4: Operational Efficiency - The collaboration between Yum China and SF Express focuses on standardizing food packaging and enhancing delivery efficiency, especially in challenging scenarios like bad weather or peak hours [9] - The delivery process involves drones and smart lockers for automated drop-off, with building robots handling the last-mile delivery [9][11] Group 5: Technological Integration - The "Smart Brain" system, developed by SF Express, utilizes AI and big data to optimize order predictions and resource allocation [12] - The system enhances operational capabilities, including equipment scheduling and real-time monitoring, to improve delivery network efficiency [13] Group 6: Broader Applications - SF Express has expanded the commercial application of unmanned delivery technology across various sectors, including medical emergencies and campus food delivery [15] - The collaboration aims to extend delivery services from ground to low-altitude, establishing a comprehensive smart delivery system [15]