1，支持虚拟现实的跑步机开发商Virtuix Holdings申请在纳斯达克直接上市，在中国珠海设有生产工 厂，该公司计划在纳斯达克上市，股票代码为VTIX Virtuix Holdings公司专注于开发用于虚拟现实/增强现实游戏和健身的跑步机，该公司于周二向美国证 券交易委员会提交了股票注册申请，并计划在纳斯达克直接上市。此次上市的普通股将由现有股东出 售，Virtuix Holdings不会通过此次上市筹集新资金。该公司尚未披露参考价格或预计的上市时间。 截至2025年3月31日的年度，该公司披露的加权平均股价约为5.41美元。如果该公司以该价格上市，其 市值将达到2.09亿美元。 Virtuix专注于虚拟现实应用的全向跑步机，在消费、企业和国防市场提供Omni One、Omni Arena、 Omni Care、Omniverse和Omni Pro等产品。该公司已向45个以上的国家运送了4000多台Omni Pro设备， 在美国的娱乐中心安装了80套Omni Arena系统，用户基数超过50万，自2024年9月推出以来已交付1800 台Omni One设备。此外，Virtuix在中国珠海设有生产工厂。 ...

Core Insights - Instant retail is becoming a primary option in the order allocation game, shifting from a supplementary role to a front-line choice in user engagement [1] - The structure of major promotional events like 618 and Double 11 is undergoing significant changes, indicating that the evolution may just be beginning [1] User Mindset Shift - Users are increasingly prioritizing immediate delivery options over price, as demonstrated by a user choosing a product available for 30-minute delivery over a slightly cheaper option with a next-day delivery [2] - Instant retail is effectively capturing "on-the-spot orders" by leveraging local inventory and rapid delivery capabilities [2][8] Subsidy Model Changes - Traditional subsidy models are losing effectiveness, prompting platforms to seek new strategies to attract consumers during promotional events [3] - Platforms like Douyin are integrating subsidies with content marketing to lower user participation barriers, indicating a shift in promotional tactics [3] Local Fulfillment Strategies - Major platforms have accelerated their local fulfillment strategies ahead of the 618 event, with initiatives like Taobao's "Flash Purchase" and JD's "Instant Delivery" channel [8] - The early launch of these services reflects a strategic shift to position instant retail as a key driver of user engagement and order fulfillment [9] Limitations of Instant Retail - Instant retail is most effective for high-frequency, low-decision, standardized consumer goods, such as daily necessities, while struggling with complex SKU categories like fashion [10][11] - The model is not yet capable of efficiently covering high-cost items or those requiring complex logistics, such as furniture [10][11] Redefining Promotional Event Value - The timing of promotional strategies is shifting, with platforms launching subsidies and flash sales earlier, indicating a change in user purchasing behavior [15] - The significance of events like 618 is evolving from a single-day focus to a broader annual rhythm, integrating user engagement throughout the year [16][17]