1月26日，京东旗下的七鲜小厨正式在广州"落地"。这是继北京4个月开出30家门店、哈尔滨首店开业 后，本月深圳、上海、广州等多城首店集中亮相，标志着七鲜小厨正迈向全国化布局新阶段。 作为京东在餐饮领域的供应链创新探索，七鲜小厨自2025年7月推出以来，凭借"新鲜现炒不隔夜、大牌 食材全公示、后厨24小时直播"三大核心卖点，重新定义了品质餐饮。 据七鲜小厨介绍，去年12月底推出的"随单赠送巧克力"回馈活动，活动期间北京地区日订单量突破2万 单。为满足全国市场的需求，七鲜小厨同期启动了全国经营合伙人招募计划，将重点深耕京津冀、长三 角、珠三角三大核心城市群，以"供应链+智能设备+标准化体系"赋能合伙人。 恰逢腊八，七鲜小厨对外宣布于1月25日至1月27日推出"腊八纳鲜福事事皆'粥'全"主题买赠活动，活动 期间每日10点、12点、17点三个时段，用户前往京东App下单七鲜小厨任意餐品即可免费获赠1份福粥 和福米，五城3天共计发放6万份。 （文章来源：广州日报） 随着五城新店集中开业，七鲜小厨面向全国的经营合伙人招募计划正稳步推进，计划在2026年年底实现 国内所有一二线城市的布局，把新鲜现炒、健康安全的好饭菜带给更 ...

京东旗下品质餐饮品牌七鲜小厨全国拓展再提速。继北京4个月开出30家门店、哈尔滨首店开业后，本 月深圳、上海、广州等多城首店集中亮相，实现"五城齐开"。 恰逢腊八，七鲜小厨宣布于1月25日至27日推出买赠活动，活动期间每日10点、12点、17点三个时段， 用户前往京东App下单七鲜小厨任意餐品即可免费获赠1份福粥和福米，五城3天共计发放6万份，京东 外卖订单、线下门店自提或堂食均可获赠，每人每天限领一份，送完即止。这也是去年12月北京"送巧 克力"活动后的再一场买赠活动。 南都N视频记者在七鲜小厨广州越富广场店看到，全部是明厨亮灶，备菜、炒菜、装盒的过程全部都可 以透过玻璃看清楚，线上也有24小时直播。门店负责人表示，广州首店现在每天的单量稳定在七八百 单，销售最高的辣椒炒肉每天都有400单左右。未来也会考虑让更多广东菜品上架。 据了解，七鲜小厨主打现炒现做和透明厨房，旨在通过供应链创新解决传统餐饮行业连锁化困难、"幽 灵外卖"泛滥等痛点，致力于携手广大菜品合伙人为消费者提供好吃、安全、卫生的现炒餐食。 现场可以看到，炒菜全部由机器人完成，有8个锅可以同时开炒，每道菜的出餐时间都在4分钟以内。据 介绍，门店选用 ...

Group 1 - Tesla's Full Self-Driving (FSD) system is expected to be approved in China as early as next month, according to CEO Elon Musk, although Tesla China has not confirmed this information [3] - Li Auto has denied rumors of mass store closures and layoffs, stating that only a few low-efficiency stores will be shut down this year, with a total of 548 retail centers planned by the end of 2025 [5] - The "Did You Die?" app's developer has been listed in the business anomaly directory due to being unreachable at their registered address, which the founder attributed to remote work [8] Group 2 - Suzuki plans to sell its vehicle manufacturing plant in Thailand to Ford, with the sale amount undisclosed, as Suzuki is set to withdraw from local production by 2024 [12] - MTG, the parent company of ReFa, announced the dissolution of its subsidiary in China due to continuous losses, despite the brand's online presence remaining operational [13] - The global humanoid robot market is projected to see explosive growth, with an estimated shipment of 18,000 units by 2025, marking a 508% year-on-year increase [21]

据官方介绍，七鲜小厨定位为"合营品质餐饮制作平台"，创新之处在于供应链模式，通过"现炒现做+透明厨房"提升食品安全透明度，主要是让没有堂 食的"幽灵外卖"出局，同时助力品质餐饮合作伙伴扩大销售规模。随后，京东正式启动菜品合伙人招募计划，明确将投入10亿现金，为1000道招牌菜寻找优 质合伙人。合伙人无需承担制作、品控等环节压力，仅需提供菜品配方并参与联合研发，后续的现炒制作、品质管控等全部由七鲜小厨全权负责。 京东旗下餐饮新业态"七鲜小厨"正加速跑马圈地，全力推进全国市场布局，进一步完善京东即时零售生态版图。 1月23日午间，《国际金融报》记者从京东方面获悉，继北京市场在四个月内快速落地30家门店、哈尔滨首店开业之后，本月深圳、上海、广州等多个 核心城市的首店也相继开门迎客，实现"五城齐开"的扩张态势，标志着七鲜小厨正式迈入全国化布局新阶段。 值得注意的是，"七鲜"并非京东近期孵化的全新项目，早在2017年，京东便启动七鲜业务孵化，并于当年年底在北京开出首家自营七鲜超市（7 Fresh）。2025年，京东持续丰富七鲜业务形态，9月正式入局咖啡赛道，推出"七鲜咖啡"，进一步拓展消费场景。 而七鲜小厨的布局则始于 ...

恰逢腊八，七鲜小厨宣布于1月25日至27日推出"腊八纳鲜福 事事皆'粥'全"主题买赠活动，活动期间每 日10点、12点、17点三个时段，用户前往京东App下单七鲜小厨任意餐品即可免费获赠1份福粥和福 米，五城3天共计发放6万份，京东外卖订单、线下门店自提或堂食均可获赠，每人每天限领一份，送完 即止。这也是去年12月北京"送巧克力"活动后的再一场买赠活动，覆盖全国门店，以实在福利回馈用 户，以福粥、福米传递佳节祝福。 2026年伊始，京东旗下品质餐饮品牌七鲜小厨全国拓展再提速。继北京4个月开出30家门店、哈尔滨首 店开业后，本月深圳、上海、广州等多城首店集中亮相，实现"五城齐开"，这也标志着七鲜小厨正迈向 全国化布局新阶段。 △七鲜小厨上海、深圳、广州等多城首店开业 与此同时，七鲜小厨还搭建起一套行业领先的"5×2食品安全管理法则"，涵盖从供应链原料到成品送达 全过程的系统化食安管理。即通过5大类，每类2项可视可感的食品安全举措，包括公示食材供应商和后 厨环境、冷链加工运输保障原料新鲜和多重检验保障菜品合格、坚持现炒和只调味不添加任何食品添加 剂、人员三重手部防护和全方位环境消杀防护、甄选非转基因大豆油和无抗认 ...

Core Insights - Zhang Zetian has re-entered the spotlight of the Chinese internet by launching her personal podcast "Xiao Tian Zhang" and a Xiaohongshu account, achieving significant engagement shortly after launch [3][4][11] - The timing of her return coincides with Liu Qiangdong's public re-emergence at JD.com, suggesting a strategic effort to enhance JD's visibility through their combined presence [3][9] - Zhang's podcast aims to establish her as an independent female figure, aligning with current trends favoring deep, conversational content over short-form media [10] Group 1: Podcast Launch and Content - The first episode of the podcast features actress Liu Jialing, setting a tone focused on fashion and personal stories, which aligns with Zhang's interests [4] - Zhang expressed her desire to engage with entrepreneurs and discuss technology and business trends, indicating a broader thematic scope for future episodes [4][10] - The podcast's name "Xiao Tian Zhang" reflects her intention to present a more authentic self to the audience [3] Group 2: Market Context and Audience - The Chinese podcast market is experiencing rapid growth, with an expected audience of over 150 million by 2025, marking a 43.6% year-on-year increase [5] - Xiaoyuzhou, the platform hosting the podcast, has over 10 million registered users, primarily from second-tier cities, with a demographic skew towards young, educated, and high-income individuals [6] - Various content platforms are increasing investments in video podcasts, indicating a competitive landscape that Zhang is entering [7][8] Group 3: Strategic Positioning - Zhang's connections within the top-tier business community provide her podcast with a unique advantage, differentiating it from typical influencer content [5] - Her efforts to build a personal brand as an independent woman are complemented by her previous role as "JD's boss lady," which has helped her attract high-end fashion resources [9][10] - The current trend of independent female narratives in the internet space aligns with Zhang's branding strategy, potentially enhancing JD's appeal to female consumers [10]

Core Insights - The business landscape in 2025 is characterized by significant transformations driven by AI, e-commerce, and local services, with major companies like JD.com, Alibaba, and Pop Mart leading the charge [3][4][7] - Key figures in the industry are recognized for their innovative approaches and impactful strategies, earning them accolades such as "most impactful" and "most daring" [3][7][10] Group 1: JD.com and Liu Qiangdong - Liu Qiangdong made a strong public return in 2025, taking on the role of "Chief Experience Officer" and engaging directly with consumers through various initiatives [5][6] - His actions, including cooking live and delivering food, aimed to enhance JD.com's local service offerings and reshape the company's image as more relatable and community-focused [5][6] - JD.com also committed to providing full social insurance for its delivery riders, emphasizing sustainable employee welfare over mere competition on subsidies [6] Group 2: Alibaba and Jiang Fan - Jiang Fan returned to lead Alibaba's e-commerce division, focusing on integrating various business segments under a unified platform to enhance operational efficiency [7][8] - His strategy included the launch of Taobao Flash Purchase, which significantly boosted user engagement and was projected to generate substantial transaction growth in the coming years [8] Group 3: Pop Mart and Wang Ning - Wang Ning, founder of Pop Mart, successfully transformed emotional value into a profitable business model, with the LABUBU IP becoming a top-tier brand [9] - Despite market concerns about sustainability, Pop Mart remains a leading player in the collectible toy industry, with plans to further explore long-term value creation [9] Group 4: AI and Yan Junjie - Yan Junjie, founder of MiniMax, is recognized for his foresight in AI development, having started his venture before the AI boom [15][16] - MiniMax focuses on efficient resource use and innovative algorithms, with a young workforce that emphasizes agility and high performance [16] Group 5: GPU Industry and Zhang Jianzhong - Zhang Jianzhong's company, Moore Threads, successfully launched on the STAR Market, becoming a significant player in the domestic GPU sector [17][18] - The company achieved a remarkable IPO process, with a high stock price and low lottery rate, indicating strong market interest and potential for growth [18][19]

Core Insights - The year 2025 has seen significant developments in the business landscape, with major companies like JD.com, ByteDance, and others making headlines for their innovative strategies and employee compensation initiatives [2] - The narrative emphasizes the dynamic nature of business, highlighting the importance of adaptability and innovation in a rapidly changing environment [2] Group 1: JD.com and Liu Qiangdong - Liu Qiangdong has made a strong public return in 2025, taking on the role of "Chief Experience Officer" and engaging directly with consumers through various initiatives [3][5] - His actions, such as cooking local dishes during live streams, signal a commitment to expanding JD.com's local service offerings and enhancing customer engagement [3][5] - Throughout the year, Liu has focused on employee welfare, announcing full social insurance coverage for delivery riders, thus redefining competition in the industry to include social responsibility [5][6] Group 2: Alibaba and Jiang Fan - Jiang Fan has returned to lead Alibaba's e-commerce division, focusing on integrating various business segments under a unified platform to enhance operational efficiency [7][9] - His strategy includes leveraging AI and real-time retail to drive growth, with significant improvements in user engagement and profitability reported [9] Group 3: Pop Mart and Wang Ning - Wang Ning has transformed Pop Mart into a leading player in the collectible toy market, with the LABUBU IP gaining significant popularity and driving stock prices to new highs [10][12] - Despite market concerns about sustainability, Pop Mart continues to innovate and expand its brand presence, including the introduction of luxury executives to its board [12] Group 4: AI and Yan Junjie - Yan Junjie, founder of MiniMax, has positioned the company as a leading player in the AI sector, focusing on high-efficiency algorithms and innovative approaches to model training [20][22] - MiniMax's recent IPO plans reflect its rapid growth and the increasing demand for AI solutions, with a strong emphasis on a youthful and efficient workforce [22][23] Group 5: Domestic Beauty and Zhao Yan - Zhao Yan of Huaxi Biological has been at the forefront of controversy and reform in the domestic beauty industry, actively addressing internal and external challenges [29][31] - Her leadership style emphasizes direct confrontation and accountability, aiming to reshape the company's culture and market position amidst ongoing scrutiny [31][32] Group 6: Old Puhuang and Xu Gaoming - Xu Gaoming's Old Puhuang brand has achieved remarkable sales performance, with projections indicating it may surpass major international luxury brands in revenue [33][34] - The brand's expansion into international markets, particularly Southeast Asia, marks a significant step in its growth strategy [36] Group 7: Live Streaming and Xin Ba - Xin Ba's decision to step back from live streaming reflects broader industry challenges, including personal health issues and shifts in business strategy [39][41] - The turmoil within his company highlights the transition of the live commerce sector from rapid growth to a more regulated and sustainable operational model [42]

Investment Rating - The report maintains a "Recommended" investment rating for the consumer services industry, indicating an expectation of exceeding the benchmark index by 10%-20% over the next six months [1]. Core Insights - The core focus of the report is on the strong performance of the travel market during the New Year holiday, with significant recovery in both domestic and international travel. The Ministry of Culture and Tourism estimates that 142 million domestic trips were made during the three-day holiday, with total spending reaching 84.789 billion yuan, reflecting a 19.4% increase compared to 2023 and a 1.1% increase compared to 2024 [4][5]. - The report highlights the dual advantages of time and space for travel during the 2026 New Year holiday, as some travelers could extend their holiday to eight days by taking three days off work. This has led to notable growth in outbound travel, nearby trips, winter sports tourism, duty-free shopping, and hotel bookings [4]. - The report expresses optimism for the performance of service consumption-related sectors in 2026, citing specific companies in various segments such as hotels, human resources services, duty-free shops, gaming, internet platforms, catering, tourism, and sports [4]. Summary by Sections Industry Basic Data - The consumer services industry comprises 55 listed companies with a total market capitalization of 498.804 billion yuan and a circulating market capitalization of 457.081 billion yuan [1]. Relative Index Performance - The consumer services sector experienced a decline of 0.72% this week, while the overall A-share market fell by 0.33%, and the CSI 300 index decreased by 0.59% [7]. Important Announcements - Key announcements include leadership changes at companies like 科锐国际 and 天立国际控股, as well as financial performance updates from various firms [32]. Upcoming Shareholder Meetings - Several companies, including 西安旅游 and 凯撒旅业, have scheduled shareholder meetings in January 2026 [34]. Industry News - The report covers various industry developments, including the surge in domestic travel bookings and the launch of new services by companies like 京东 and 拼多多, indicating a vibrant market environment [35][36].

Group 1 - The core event of 2025 is the ongoing food delivery battle, which has transformed consumer habits and significantly influenced the development of the food delivery and instant retail industry [1] - The market structure has shifted from a single-platform dominance to a stable "tripod" of Meituan, Taobao, and JD, marking a fundamental change in the competitive landscape [2][4] - By the end of 2025, the market share distribution is approximately Meituan: Taobao: JD = 48%: 33%: 19%, indicating a balanced and sustainable market structure [2] Group 2 - As subsidies decrease, the competition has shifted from price wars to value-based competition, with consumers focusing more on food quality, delivery timeliness, and safety [5] - Over 45% of users now compare the three platforms before ordering, indicating a shift in decision-making from dependency to demand adaptation [5] - Merchant satisfaction is high across all three platforms, with each platform receiving recognition for its unique strengths in service quality and operational efficiency [7] Group 3 - The year 2025 has seen a rise in social responsibility awareness within the industry, with JD setting a benchmark by signing labor contracts for all full-time delivery personnel [7] - Measures to enhance food safety, such as "ghost delivery" prevention and improved supply chain management, have been implemented by all three platforms [7] - The future competition will focus on supply chain innovation and systemic capabilities rather than just front-end subsidies or marketing [8] Group 4 - The food delivery battle is viewed as a deep restructuring of local life service ecosystems, where the ability to control and integrate supply chains will be crucial for future success [8] - The industry is transitioning from "price competition" to "value creation," marking the beginning of a more mature and higher-quality development phase [8]