" 闪电仓改造供应链，电商品牌加速布局。 " 作者丨李岩 编辑丨董子博 据雷峰网观察，品牌化正成为当前即时零售领域核心的趋势之一。 近期，雷峰网注意到，在美团闪购上购买电子、美妆、日用品时，出现了越来越多带有"官方旗舰店"标识 的店铺，例如索尼PlayStation、蕉下、毛戈平、珀莱雅、徕芬等品牌的官方旗舰店。这些店铺明确标注为 官方认证，形态类似消费者熟悉的电商平台官方旗舰店，但其最本质的区别在于30分钟送达。 电商品牌不再局限于传统线上货架，而是希望离消费者更近一步。为此，越来越多品牌开始积极布局即时 零售渠道，供应链模式也随之发生改变。 雷峰网获悉，自今年10月以来，已有索尼PlayStation、珀莱雅、JBL、自然堂、薇诺娜、全棉时代、罗 技、金士顿、毛戈平、欧莱雅、蕉下、徕芬、苏菲、漫步者、飞利浦、安克等数百个品牌率先 入驻美 团"品牌官旗闪电仓"，开设官方旗舰店。 这一变化的背后，是平台正在通过闪电仓"小快灵"的仓配体系，为品牌做"即时零售化"的供应链改造—— 相当于美团闪购给品牌定制了一套简单、直接进入即时零售的模式："品牌官旗闪电仓"。品牌无需自建线 下仓储，而是直接入驻美团的"品牌官旗闪 ...

11月25日，商务部研究院联合美团闪购举办行业首个"即时零售生态开放日"活动，发布《即时零售行业 发展报告（2025）》。 《报告》显示，我国即时零售行业正处于迈向万亿级规模的关键节点，构建良好健康生态成为即时零售 高质量发展的重要衡量标准，主流即时零售平台正在构建以"安心"为核心的高标准服务体系，引领行业 生态健康发展。美团闪购推出行业首个全流程服务保障计划"安心闪购"，在服务体验、履约配送、售后 保障等方面升级多项举措，使得"又快又安心"成为即时零售行业现阶段的核心用户体验标准，带动行业 进入"高标准服务"的发展新阶段。 鲜花即时零售商家"邮氧森林"，是以"安心"为核心经营理念，与美团闪购繁荣共生的典型案例。"邮氧 森林"首创"鲜花送前返图"服务，建立了高标准的鲜花交付基准、即时响应的售后服务标准。目前，"邮 氧森林"持续位居美团闪购中高端花店交易规模、用户体验指标头名，全国130家门店用户投诉率下降超 50%，复购率增长30%。 "即时零售是一门扎根实体、服务邻里、充满温度的生意。我们希望通过更多倾听，更用心沟通，做出 科学有据、多方共赢的治理举措，构建健康、繁荣、充满信任的平台生态。"范越雷表示，"安 ...

美团闪购平台治理部负责人范越雷分享了"安心闪购"计划的最新进展：自今年5月份全面上线以来，"安 心闪购"扩展至20项服务，覆盖消费者购物全流程、全品类，帮助平台近百万商家降低了消费纠纷带来 的不必要损失。目前，"安心闪购"已形成了以"安心品质""安心服务""安心售后"为核心，以AI智能治理 体系和公开多元评审规则为基座的综合保障体系。 "'安心闪购'的原点，是充分倾听消费者和商家的声音，做出'用户和商家双赢'的治理决策。"范越雷提 到，针对一些复杂场景，过去一年，美团闪购陆续推出用户配送中取消0秒退服务，上线骑手返货标准 流程，支持配送费在线分责结算，解决商家"钱货两失"、骑手"白送"的后顾之忧，帮用户快速解决问 题，将商家从繁琐的客诉处理中解放出来。 新京报讯（记者秦胜南）11月25日，商务部研究院联合美团闪购举办行业首个"即时零售生态开放日"活 动，商务部研究院电子商务研究所所长杜国臣在会上发布了《即时零售行业发展报告（2025）》。报告 提出，我国即时零售行业正处于迈向万亿级规模的关键节点，构建良好健康生态成为即时零售高质量发 展的重要衡量标准，主流即时零售平台正在构建以"安心"为核心的高标准服务体系， ...

美团闪购平台治理部负责人范越雷分享了"安心闪购"计划的最新进展：自今年5月份全面上线以来，"安 心闪购"扩展至20项服务。目前，美团平台官方取退货服务已覆盖全国53个城市近40万商家。AI能力上 线后，商家处理售后问题的人工成本下降近70%；骑手伙伴对"履约难"等问题的进线申诉率持续降低。 新京报贝壳财经讯(记者陈维城)11月25日，在商务部研究院联合美团闪购举办"即时零售生态开放日"活 动上，商务部研究院电子商务研究所所长杜国臣发布《即时零售行业发展报告(2025)》提到，我国即时 零售行业正处于迈向万亿级规模的关键节点，构建良好健康生态成为即时零售高质量发展的重要衡量标 准，主流即时零售平台正在构建以"安心"为核心的高标准服务体系，引领行业生态健康发展。 "目前行业竞争由价格驱动逐渐转向用户体验驱动，即时零售进入高效与品质并重的全新发展阶段。"杜 国臣在发布《即时零售行业发展报告(2025)》时表示，行业正从"履约快"向"服务稳""商品优"演进。报 告同时指出，构建以"安心"为核心的高标准服务体系，对于帮助商家长期可持续经营具有重要意义。主 流即时零售平台在提升服务标准方面正加大对商家的资源投入，着力构建 ...

报告提出，我国即时零售行业正处于迈向万亿级规模的关键节点，构建良好健康生态成为即时零售高质 量发展的重要衡量标准，主流即时零售平台正在构建以"安心"为核心的高标准服务体系，引领行业生态 健康发展。美团闪购通过推出行业首个全流程服务保障计划"安心闪购"，在服务体验、履约配送、 售 后保障等方面升级多项举措，使得"又快又安心"成为即时零售行业现阶段的核心用户体验标准，带动行 业进入"高标准服务"的发展新阶段。 新华财经北京11月25日电（记者丁雅雯）商务部研究院25日发布《即时零售行业发展报告（2025）》。 报告指出，2026年我国即时零售规模将突破1万亿元，预计到2030年，将达到2万亿元，"十五五"期间年 均增速达到12.6%。 商务部研究院电子商务研究所所长杜国臣指出，前置仓的规模化与数字化发展显著提升了履约效率，已 成为支撑即时零售生态的关键环节，贡献了全渠道一半以上的交易额。展望未来，"全域下沉"与"多场 景拓展"成为即时零售增长的主引擎，国内县域市场存在巨大增长空间。同时，人工智能与大数据将全 面赋能，贯穿于选品、补货、配送、营销、售后各个环节。 报告指出，据测算，2024年我国即时零售规模达781 ...

Core Insights - Meituan has launched a new service called "Fresh Commitment" for low-temperature milk in Changsha and Chengdu, allowing consumers to select this option for quick delivery of fresh milk [1][2] - The service addresses consumer concerns about the short shelf life of low-temperature milk, especially during summer when spoilage is a significant issue [1] - The "Fresh Commitment" service is part of Meituan's broader "Safe Shopping" initiative, which aims to enhance consumer confidence in purchasing fast-moving consumer goods [1] Group 1 - The "Fresh Commitment" service ensures that low-temperature milk is delivered within 30 minutes under full refrigeration, covering major brands like New Hope and Mengniu [1] - Meituan has partnered with over a hundred retail brands and local businesses to implement this service, aiming for nationwide expansion [1] - The service includes a compensation policy where consumers can receive cash vouchers if they purchase products that are close to or past their expiration date [2] Group 2 - The initiative is supported by collaborations with various convenience stores and supermarkets, including Squirrel Convenience and Metro, to enhance distribution capabilities [2] - The service is designed to alleviate consumer worries about product freshness and quality, particularly in the hot summer months [1][2] - Meituan's strategy reflects a growing trend in the instant retail sector, focusing on consumer satisfaction and product reliability [1]

美团闪购长期致力于构建令消费者安心的购物保障体系，优化消费者的购物体验。2025年5月，美团闪 购联合百余家品牌零售商和广大本地实体商家，推出即时零售行业首个全流程购物保障计划"安心闪 购"。此次首推"半日送装"服务，是"安心闪购"在大家电领域的重要落地举措之一。 今年618期间，"国补"优惠叠加"空调半日送装"等购物体验，越来越多消费者选择"闪购下单，大家电即 买即用"，多个家电品牌在美团闪购成交额显著增长。其中，奥克斯成交额同比增长超60倍；格力自去 年6月在美团闪购正式开店，今年618期间的成交额比去年双十一期间增长近9倍。 目前，美团闪购"空调半日送装"服务的参与品牌及覆盖地区正在持续扩大。河北、山东、重庆、海南、 广西、东莞、珠海等省市消费者在美团闪购购买格力部分型号家电时，可享受"半日送装"服务；北京消 费者在美团闪购购买TCL、海尔部分型号家电时，可享受"半日送装"服务；海尔部分型号家电的"半日 送装"服务已落地广东深圳。此外，奥克斯的相关服务即将上线全国十几个城市，顺电的相关服务也将 陆续上线深圳、北京、苏州。 天气转热，重庆一企业员工小刘，通过美团闪购买了一台格力空调，叠加"国补"后立省10 ...

Group 1: Vaccine Industry Performance - In Q1 2025, major Chinese vaccine companies such as Wantai Biological Pharmacy, Zhifei Biological Products, and Watson Bio experienced significant declines in performance, termed as a "snow avalanche" [2] - Wantai Biological reported a revenue of 401 million yuan, a year-on-year decrease of 46.76%, and a net loss of 52.78 million yuan [2] - Zhifei Biological's revenue was 2.374 billion yuan, down 79.16%, with a net loss of 305 million yuan [2] - Watson Bio achieved a revenue of 462 million yuan, a decline of 22.93%, and a net profit of 2.65 million yuan, down 81.27% [2] Group 2: Shipping and Trade Dynamics - The Port of Los Angeles, a crucial logistics hub, has seen a decline in activity due to uncertainties in U.S. trade policies, with 45% of its business linked to China [5] - By the end of May, the number of ships arriving at the port was expected to decrease by 20%, with cargo volume projected to drop by about 25% [6] - Following the release of a joint statement from U.S.-China trade talks, cargo imports at the port are anticipated to increase by 16.1% and 21.98% in the subsequent weeks [6] - Shipping prices are rising sharply, with some companies announcing General Rate Increases (GRI) of up to $3,000 per 40-foot container [7] Group 3: E-commerce and Financial Performance - Alibaba reported Q4 2025 revenue of 236.454 billion yuan, a year-on-year increase of 7%, with significant growth in customer management revenue [7] - JD Group's Q1 2025 revenue reached 301.1 billion yuan, up 15.8%, with a net profit of 12.8 billion yuan, reflecting a 43.8% increase [8] - Tencent's Q1 2025 revenue was 180.022 billion yuan, a 13% increase, with operating profit rising by 18% to 69.32 billion yuan [10][11] - The number of active users for JD has seen double-digit growth for six consecutive quarters, exceeding 20% [9]

Investment Rating - The report assigns a "Buy" rating for stocks, indicating an expected relative return of over 20% within six months [30] Core Insights - Southbound funds have increased their investments in undervalued leading companies such as Meituan, with a net purchase of 6.7716 billion yuan in the past week, contributing to a total net purchase of 575.518 billion yuan year-to-date, which is 77.35% of the total net purchase for 2024 [1] - The report highlights that major internet companies are currently at relatively low valuations, with projected P/E ratios for 2025 as follows: Alibaba (12), Tencent (17), Meituan (11), Baidu (9), Pinduoduo (8), JD.com (7), Kuaishou (6), and Xiaomi (28) [1][20] Summary by Sections Company Financials and News - Meituan has seen significant investment from southbound funds, with a net purchase of 6.371 billion yuan [25] - The report notes the upcoming earnings announcements from major companies such as Tencent, Alibaba, and JD.com, which are expected to provide insights into future product cycles and strategies [4] - The IPO of Hu Shang A Yi on the Hong Kong Stock Exchange was successful, with a closing price of 158.4 HKD, representing a 40.03% increase from its opening price [3][10] Market Overview - The Hang Seng Index closed at 22,867.74 points, reflecting a weekly increase of approximately 1.61% [13] - The report emphasizes the importance of monitoring the upcoming earnings reports and AI product iterations, which could influence investment expectations and valuations in the Chinese market [4] Industry Trends - The report discusses the advancements in AI, particularly the launch of the VPP model by Xingdong Jiyuan, which utilizes vast amounts of internet video data for generating video content and executing physical actions [2] - In the smart driving sector, there is a trend towards the standardization of laser radar among major manufacturers, with a focus on companies like Xiaopeng and Xiaomi [2] - The report also highlights the growth potential in the new tea beverage market, as evidenced by the successful IPO of Hu Shang A Yi and the upcoming IPO of Green Tea Group, which plans to raise over 1.2 billion HKD [3][10]

Group 1: Xiaomi Group - Founder Lei Jun shared that the past month has been the most challenging since founding Xiaomi, experiencing low emotions but also gaining insights during this reflective period [1][10] - The emotional vulnerability expressed by the founder aligns with brand management strategies, transforming personal struggles into a collective empathy point for the brand [1] - Xiaomi's unique fan ecosystem allows for rapid emotional resonance, which can be seen as a form of "trust savings" that helps mitigate short-term crises [1] Group 2: Meituan - Meituan launched the first full-process service guarantee plan "Anxin Shanguo" in the instant retail industry, upgrading 14 measures across service experience, delivery, and after-sales [2] - The strategic significance of this launch lies in standardizing services to capture user mindshare and strengthen the platform's competitive edge in instant retail [2] Group 3: Kweichow Moutai - Kweichow Moutai appointed Zhang Yixing as the brand ambassador for its cultural tourism division, aiming to attract a younger demographic [3] - The choice of a popular figure among Generation Z aligns with Moutai's strategy to integrate its liquor and tourism offerings [3] Group 4: JD Group - JD's "618" shopping festival will officially start on May 31, with early promotions beginning on May 13, featuring multiple subsidy programs [5] - The early launch and diverse subsidy offerings aim to reshape consumer price perceptions and reinforce JD's brand image as a low-price platform [5] Group 5: JA Solar Technology - JA Solar signed MOU agreements with Australian clean energy companies NSEG and YES Group to supply a total of 250MW of high-efficiency photovoltaic modules by 2025 [6] - This partnership highlights JA Solar's deep trust with local leaders and showcases the adaptability of its products in Australia's complex geographical and climatic conditions [6] Group 6: CATL - CATL unveiled the TENER Stack, a 9MWh ultra-large capacity energy storage system solution, at the Munich Battery Storage Exhibition [7] - This system features significant advancements in capacity, flexibility, safety, and transport efficiency, with a five-year zero-degradation characteristic [7] Group 7: Lenovo Group - Lenovo launched a comprehensive super-intelligent matrix covering personal, enterprise, and urban levels at the Tech World 2025 innovation conference [8] - This move signifies Lenovo's ambition to transition from a hardware provider to an AI service provider, although large-scale application will require time to validate [8] Group 8: Alibaba Group - Alibaba CEO Wu Yongming called for a return to the company's entrepreneurial roots, emphasizing the need for innovation in the face of AI technology's risks and opportunities [9] - This call to action signals a significant organizational transformation aimed at breaking down barriers and fostering a culture of entrepreneurship [9] Group 9: Baidu Group - Baidu Apollo and Shenzhou Car Rental signed a strategic cooperation agreement to launch the world's first autonomous vehicle rental service [11][12] - This collaboration aims to accelerate the application of autonomous driving technology across diverse scenarios, enhancing user safety and convenience [12]