以下文章来源于品牌头版 ，作者林川 表面上这是一份堪称三年来最亮眼的成绩单： 营收 3567 亿元，同比增长 22.4% ，刷新纪录； 核心零售业务收入 3101 亿元，同比增幅高达 20.6% ，经营利润率更是达到 4.5% ，创下公司 历史 上所有大促季度的最高值。 品牌头版 . 200万品牌经理人内参！聚焦头部与标杆品牌。+V：qidu286（备注：专访） 作者：林川 来源：品牌头版 ---------------------------------- 8 月 14 日，京东发布了 2025 年 的 第 二季度财报。 ● 图 源 ：京东 然而，就在这份 " 史上最强季报 " 的另一面， 包含外卖在内的新业务单季亏损高达 147.77 亿 元，直接导致集团整体经营利润从去年同期的 105 亿元转为亏损 9 亿元 ， 同时 净利润几乎腰 斩 至 62 亿元。 京东外卖 ， 这 个原本承载着京东 " 即时零售突破口 " 期望的业务， 在本季度已然 成了吞噬利 润的无底 黑 洞。 01 增长盛宴下的百亿窟窿 翻开 " 高增长 " 与 " 高亏损 " 形成 强烈反差 的 京东二季度财报，几乎所有人都 能 感受到 ...

Core Insights - JD Logistics has officially launched its 2025 seafood assurance plan, focusing on rapid delivery and enhanced cold chain logistics services [2] Group 1: Delivery and Logistics Strategy - JD Logistics will deploy delivery personnel in major production areas to facilitate nearby collection and increase air transport capacity, enabling seafood to reach core city tables within 24 hours [2] - The company operates approximately 100 temperature-controlled cold chain warehouses dedicated to fresh, frozen, and refrigerated foods, covering over 300 cities nationwide [2] Group 2: Cold Chain Services - JD Logistics offers end-to-end, omnichannel, and all-scenario cold chain logistics services to seafood merchants, helping them reduce costs and improve efficiency [2] - The logistics network allows seafood merchants to meet diverse delivery needs, including multi-frequency and small-batch deliveries from factories to supermarkets, convenience stores, and restaurants [2]

Core Insights - JD Logistics reported strong Q2 2025 performance with revenue reaching RMB 51.56 billion, a 17% year-on-year increase, exceeding market expectations [3] - The company's first-party (1P) and third-party (3P) integrated supply chain businesses grew by 31% and 18% respectively, driven by robust performance on the JD platform and support from trade renewal policies [3] - Gross margin improved to 10.6%, significantly up from 7.2% in Q1, although it slightly declined compared to the same period last year [3] Financial Performance - Adjusted net profit was approximately RMB 2.6 billion, aligning with market consensus [3] - The company anticipates continued revenue acceleration in the second half of the year, particularly with the new food delivery business contributing to revenue starting in Q3 [3] - Despite a projected 23% year-on-year decline in net profit for Q3 due to high base effects and increased logistics resource investments, a strong rebound in profitability is expected in Q4 with a projected 35% year-on-year growth [3] Strategic Initiatives - JD Logistics is actively expanding its overseas market presence, having established a self-operated express network, JoyExpress, in Saudi Arabia as of June 2025, with plans to expand into Europe within the year [3] - The company aims to strengthen its core supply chain competitiveness by increasing investments in warehousing and last-mile delivery [3] - Despite facing short-term profit fluctuations, JD Logistics maintains a long-term competitive advantage through its extensive warehousing network and technological capabilities [3]

Core Viewpoint - The launch of the first urban drone medical delivery route in Northwest China marks a significant advancement in the efficiency of medical supply logistics, particularly in complex urban environments [1][2]. Group 1: Drone Delivery System - A drone carrying medical supplies successfully completed a delivery from the Xi'an Baqiao District CDC to the Dizhai Community Health Service Center, covering a distance of 10.5 kilometers in 11 minutes, which is over three times faster than traditional ground transportation that takes at least 40 minutes [1]. - The drone delivery system addresses the challenges of transporting medical supplies in areas with complex traffic conditions, enhancing the efficiency of emergency medical logistics [1]. Group 2: Future Developments - The company plans to innovate and expand the application of drones in various medical delivery scenarios, including vaccine distribution, emergency medical supplies, and blood transport, by leveraging smart temperature control systems and multi-drone scheduling algorithms [2]. - The goal is to establish a comprehensive low-altitude medical logistics network that enables a "15-minute medical emergency low-altitude logistics circle" covering the entire Baqiao District [1].

Core Insights - Meituan has launched the first batch of unmanned micro delivery vehicles for road testing in Longhua District, marking a significant advancement in Shenzhen's smart logistics development and the integration of unmanned delivery into citizens' lives [1] Group 1: Unmanned Delivery Initiative - The "unmanned city delivery" initiative complements traditional last-mile delivery, expanding urban delivery coverage and catering to instant delivery scenarios [1] - Meituan's autonomous micro delivery vehicles utilize a collaborative model of "unmanned micro vehicles + functional unmanned cars + delivery personnel," enhancing service radius and mid-to-long distance delivery capabilities [1] Group 2: Efficiency and Reliability - After real-time testing and evaluation of the autonomous driving function, the staff noted that the new collaborative model significantly improves delivery efficiency and reliability, especially for long-distance urgent orders [1] - The initiative aims to explore the future direction of urban smart logistics by constructing a mid-to-long distance unmanned delivery network and enhancing logistics efficiency through intelligent scheduling [1] Group 3: Vertical Solutions - The project also seeks to develop full-chain solutions for specific vertical categories such as pharmaceutical cold chain and fresh food, laying the foundation for a "smart life" where "everything can be delivered" [1]

Core Insights - The article highlights the successful transformation of a grid warehouse from a loss of 50,000 to a profit of 200,000 within three months by integrating traditional logistics with community group buying [1] Group 1: Operational Strategies - The initial operational bottleneck was identified in the sorting process, which could not handle the surge in community group orders, leading to delays [3] - The owner optimized labor allocation by implementing a two-shift system, increasing the sorting team to 16 members, which reduced sorting cycles by 50% [3] - Night shift wages were raised to 18 yuan/hour to enhance team efficiency, addressing the labor shortage and stabilizing service [3] Group 2: Cost Management - The owner established a "granular cost management system" for group buying, improving vehicle loading rates from 60% to 92% and reducing fuel costs by nearly 3,000 yuan per month [5] - Agreements with suppliers for exclusive pricing and return policies on unsold items led to an 8% reduction in packaging costs [5] - The implementation of a data-driven operational model allowed the warehouse's sorting and vehicle efficiency metrics to surpass the industry average [5] Group 3: Service Enhancement - The warehouse transitioned from a logistics node to a community group buying hub by analyzing customer feedback and adjusting product offerings to meet rising demand for baby products, which grew by 20% monthly [6] - A new pricing strategy was introduced, offering discounts for group purchases, resulting in a 50% year-over-year increase in order volume [6] Group 4: Sustainable Profit Model - The integration of logistics and group buying created a closed-loop profit model, allowing the warehouse to charge suppliers a 3% fee for group buying operations, generating an additional monthly income of nearly 10,000 yuan [7] - This case exemplifies how traditional logistics can thrive by deeply engaging with the group buying ecosystem, providing a replicable model for similar warehouses [7] Group 5: Conclusion - The success story of the grid warehouse illustrates the victory of traditional logistics embracing new business models, emphasizing the importance of strategic labor management, cost control, and service enhancement [9]

今日股市交易中，百货零售板块异军突起，短线强势拉升，成为市场瞩目的焦点。国光连锁率先发力， 迅速触及涨停，其股价走势凌厉，成交量急剧放大，彰显出强大的市场号召力。国芳集团、南宁百货、 步步高、中央商场、文峰股份等个股也纷纷跟涨，整个板块呈现出一片火热的景象，市场人气高涨。 百货零售板块此番异动，背后有着诸多驱动因素。从政策层面来看，商务部积极推动 "外贸优品拓内 销" 政策，京东、盒马等企业纷纷响应，启动大规模采购计划，助力外贸企业开拓国内市场，这为百货 零售企业带来了新的商品资源和业务拓展机会。同时，各地政府也在不断出台促进消费的政策，如发放 消费券、举办购物节等，直接刺激了居民的消费热情，为百货零售行业注入了强大的发展动力。 在消费趋势方面，随着居民生活水平的提高和消费观念的转变，消费者对于购物的体验和品质要求越来 越高。百货零售企业积极顺应这一趋势，加大了在店铺环境升级、商品品牌优化、服务质量提升等方面 的投入，通过打造多元化的消费场景，如引入体验式消费业态、举办主题活动等，吸引了更多消费者前 来购物，推动了行业的发展。 百货零售板块的走强，带动了多个相关板块受益。 首先是商业地产板块。百货零售企业的扩 ...

Group 1 - Meituan's unmanned delivery vehicles have commenced regular testing operations in the core area of Shenzhen's Futian District, marking a significant milestone as the first deployment of such vehicles in a densely populated, commercially active urban center in China [1][2] - The initiative aims to provide efficient 24-hour delivery services for fresh groceries and integrate into various scenarios such as dining, takeout, and errands, enhancing the technological lifestyle of residents [1] - The operation is part of a broader exploration of standardized, large-scale, commercial, and interconnected development of unmanned logistics in Shenzhen, indicating a shift from testing to maturity in autonomous driving technology [3] Group 2 - The launch of the delivery route involved comprehensive assessments of operational conditions and traffic impacts, with vehicles required to connect to government platforms for dynamic data monitoring and dispatch [2] - The initiative promotes an ecosystem of mutual benefits, allowing companies to utilize resources from Shenzhen Bus Group for vehicle safety parking, efficient charging, and localized operational support, addressing key industry challenges [2] - Safety measures include remote monitoring personnel and on-ground safety staff to ensure the secure operation of unmanned vehicles, with a gradual rollout strategy from small-scale tests to larger pilot areas [2]

Core Insights - The article discusses the launch of a luggage delivery service by Didi Express in collaboration with InterContinental Hotels Group, aimed at alleviating the burden of carrying luggage for tourists during their travels [2][5]. Group 1: Service Overview - Didi Express has introduced a luggage delivery service to assist tourists who face challenges with luggage transportation, especially after checking out of hotels [2]. - The service has been implemented in 379 Holiday Inn Express hotels across the country, with plans for other brands under InterContinental Hotels Group to join the initiative [2]. Group 2: User Experience and Functionality - The luggage delivery service is available in popular tourist cities such as Beijing, Chengdu, Shanghai, Hangzhou, Chongqing, Xi'an, and Changsha, with a user-friendly interface for selecting luggage size and delivery locations [5]. - Users can track their luggage delivery in real-time and provide either a receipt or pickup code to hotel staff for seamless service [5][7]. Group 3: Training and Collaboration - Didi Express has conducted online training for delivery personnel to ensure smooth handling of luggage, including verification of information and coordination with hotel staff [7]. - InterContinental Hotels Group has also trained its concierge staff on the processes of receiving, storing, and handing over luggage to enhance the overall user experience [7].

Core Viewpoint - The transition to electric light trucks in the logistics industry is driven by significant cost reduction potential and the reliability of BYD's self-developed "three electric" technology [1][11]. Group 1: Industry Trends - The penetration rate of electric light trucks in urban distribution is increasing, with more operators recognizing the cost-saving effects of electric vehicles in actual operations [1]. - The logistics industry is evolving due to changes in transportation demand and the continuous innovation of transport tools, leading to heightened competition and pressure on profit margins in general cargo transportation [3]. Group 2: Company Strategy - The company is focusing on the medical logistics sector to enhance competitiveness and create new opportunities, leveraging the high standards required for logistics and flexible scheduling [5]. - The company has established a distribution network covering all of Zhejiang province, ensuring timely delivery of pharmaceuticals to hospitals and patients [6]. Group 3: Vehicle Utilization - The company operates over 200 vehicles, including more than 20 BYD T5 electric light trucks, which have been in use for over six months with an average mileage of 16,000 to 18,000 kilometers [6][10]. - The choice of vehicles is tailored to delivery routes, with pure electric trucks used for urban deliveries and hybrid models for intercity transport, ensuring operational efficiency [8]. Group 4: Cost Efficiency - The operational cost of the BYD T5 electric light truck is significantly lower, with energy costs reduced to 0.3-0.4 yuan per kilometer compared to 1.2 yuan for fuel vehicles, leading to annual savings of over 20,000 yuan per vehicle [11]. - The company plans to systematically phase out older vehicles in favor of newer models to further capitalize on these cost advantages [11]. Group 5: Trust in Technology - Initial concerns about the reliability of electric light trucks were alleviated by the operational performance of the BYD T5, which has gained the trust of the company [13]. Group 6: Future Outlook - The company is positioned to navigate the challenges of profit decline more effectively than competitors by leveraging the dual advantages of cost efficiency and transportation effectiveness in the transition to new energy logistics [15].