公司认为，深入理解并服务好现有核心用户，挖掘其深层价值，是未来竞争的关键所在。因此，公司将 围绕女性用户群体的特定需求、使用习惯与情感偏好，进行业务与内容的深度定制化开发，并逐步构建 并完善以下业务矩阵，以形成协同效应： 格隆汇10月10日丨联众(06899.HK)宣布，在现有业务及用户生态持续良性发展的基础上，决定进一步加 强女性娱乐领域的战略布局—聚焦持续提升核心女性用户的价值体验，并以优质、创新的内容驱动新娱 乐业务的增长。 自2021年开展短视频平台直播业务以来，公司已在抖音、快手等核心阵地深耕四年。期间，我们不仅建 立了成熟的运营体系，更重要的是，成功汇聚了规模庞大、特徵鲜明的核心用户群体—主要为新一线城 市中18至40岁的高价值女性用户。该用户群体的形成，为公司未来的发展奠定了坚实的用户基础与数据 洞察优势。 1.娱乐直播体验升级：在现有赛事直播业务基础上，将进一步细化内容分类，鼓励创新互动形式，强化 主播与用户、用户与用户之间的情感联结与社区归属感，使直播平台成为用户休闲娱乐与社交互动的重 要场景。同时，公司将加大对娱乐直播和直播电商领域的投入与建设力度。 .轻竞技棋牌产品：开发侧重於玩法轻松愉 ...

2.定制化产品开发： 轻竞技棋牌产品：开发侧重于玩法轻松愉快、强社区互动的轻度竞技棋牌产品，降低传统竞技的硬核属 性与竞争压力，强调过程中的智力趣味与社交乐趣。 女性向休闲游戏：重点开发具备强社交功能、画风精美治愈、玩法简单易上手且无过重负担的女性向休 闲小游戏，将致力于为用户打造可短暂抽离现实压力、获得情感慰藉与愉悦感的数字空间，精准契合现 代女性对"低压"娱乐体验的追求。 公司相信，此次战略聚焦将使公司能更精准地响应用户需求，以"内容"为核心驱动力，不断丰富娱乐体 验的内涵与外延，进一步增强用户黏性，拓展新的业务增长空间，并为股东创造长期、可持续的价值。 联众(06899)发布公告，在现有业务及用户生态持续良性发展的基础上，决定进一步加强女性娱乐领域 的战略布局—聚焦持续提升核心女性用户的价值体验，并以优质、创新的内容驱动新娱乐业务的增长。 自2021年开展短视频平台直播业务以来，公司已在抖音、快手等核心阵地深耕四年。期间，公司不仅建 立了成熟的运营体系，更重要的是，成功汇聚了规模庞大、特征鲜明的核心用户群体—主要为新一线城 市中18至40岁的高价值女性用户。该用户群体的形成，为公司未来的发展奠定了坚实的 ...

自2021年开展短视频平台直播业务以来，公司已在抖音、快手等核心阵地深耕四年。期间，公司不仅建 立了成熟的运营体系，更重要的是，成功汇聚了规模庞大、特征鲜明的核心用户群体—主要为新一线城 市中18至40岁的高价值女性用户。该用户群体的形成，为公司未来的发展奠定了坚实的用户基础与数据 洞察优势。 公司认为，深入理解并服务好现有核心用户，挖掘其深层价值，是未来竞争的关键所在。因此，公司将 围绕女性用户群体的特定需求、使用习惯与情感偏好，进行业务与内容的深度定制化开发，并逐步构建 并完善以下业务矩阵，以形成协同效应： 1.娱乐直播体验升级：在现有赛事直播业务基础上，将进一步细化内容分类，鼓励创新互动形式，强化 主播与用户、用户与用户之间的情感联结与社区归属感，使直播平台成为用户休闲娱乐与社交互动的重 要场景。同时，公司将加大对娱乐直播和直播电商领域的投入与建设力度。 2.定制化产品开发： 轻竞技棋牌产品：开发侧重于玩法轻松愉快、强社区互动的轻度竞技棋牌产品，降低传统竞技的硬核属 性与竞争压力，强调过程中的智力趣味与社交乐趣。 女性向休闲游戏：重点开发具备强社交功能、画风精美治愈、玩法简单易上手且无过重负担的女性向休 ...

Group 1 - The core theme of the upcoming 12th China Business Innovation Conference is "This Moment is the Future: Innovation Leading the New Journey of Business," aiming to extract future principles from current innovations [1][5] - The conference will gather industry leaders, government officials, and experts to discuss policy directions and industry trends, providing practical experiences for businesses [6][5] - The event is part of a broader initiative to enhance the modern commercial circulation system and promote high-quality development in the trade and commerce sector [1][3] Group 2 - The commercial sector in China is experiencing unprecedented opportunities for development driven by innovation, with a focus on digital and green transformations [3][4] - Various new business models and industries are emerging, including live e-commerce, smart logistics, and instant retail, reflecting a shift in consumer demand towards quality and personalized experiences [3][4] - The government is implementing policies to support the construction of a unified national market, enhancing the momentum for high-quality development in the commercial sector [3][11] Group 3 - The conference will feature a main forum and a case-sharing ceremony, focusing on policy interpretation, case sharing, trend analysis, and roundtable discussions [5][6] - The event aims to bridge the gap between theoretical guidance and practical implementation, fostering innovation in the commercial landscape [5][6] - The ongoing collection of exemplary cases and innovative enterprises for the conference highlights the commitment to uncovering commercial innovation value [10][5]

Core Insights - The report indicates that the total online sales of the top 100 companies in China exceeded 2.17 trillion yuan, marking a year-on-year growth of 13.6% [1] - The threshold for entering the top 100 has risen to 1 billion yuan, with an increase in the number of companies in the billion, hundred billion, and thousand billion categories [1] - China remains the largest online retail market globally, with projected online retail sales reaching 15.5 trillion yuan in 2024, marking the 12th consecutive year of this status [1] Company Performance - JD.com, Midea, Alibaba, and Vipshop ranked as the top four companies in the 2025 online retail TOP 100, each surpassing 100 billion yuan in sales, demonstrating strong leadership effects [1] - A total of 20 companies entered the "hundred billion" sales category, indicating a robust middle market [1] - Among the top 100 companies, 61 achieved positive growth in online sales, with 40 of them experiencing double-digit growth [1] Industry Trends - Consumer brand companies dominate the structure of the top 100, with 63 companies, followed by 24 from physical retail and 13 from e-commerce platforms, showcasing a diverse market [1] - The report highlights that food and beverage companies are actively exploring instant retail and short video marketing, while apparel and personal care brands are enhancing their reach through mini-programs [2] - The report also notes significant growth opportunities in lower-tier markets, driven by improved logistics and rising internet penetration in rural and county areas [2]

Core Viewpoint - The document outlines a comprehensive strategy to promote digital consumption and enhance the quality of life in the digital age through various initiatives and support for new business models in e-commerce [1] Group 1: Digital Consumption Development - The guidance emphasizes the expansion of digital consumption channels, particularly through the development of smart retail [1] - It supports the healthy development of new business models such as instant retail, social e-commerce, and live-streaming e-commerce [1] - The document calls for the establishment of a quality e-commerce standard system to guide platforms in nurturing quality merchants [1] Group 2: Digital Marketing and Supply Chain - There is a focus on optimizing platform rules to enhance supply quality and encourage investment in customized production, smart supply chains, and AI applications [1] - The guidance promotes effective matching and connection between digital supply and digital consumption [1] - Support is also extended to the development of vertical industry e-commerce to expand consumption channels in specialized fields [1]

人民财讯9月24日电，商务部等8部门联合印发《关于大力发展数字消费共创数字时代美好生活的指导意 见》，其中提出，拓展数字消费渠道。发展智慧零售，支持实体商贸企业全方位、全渠道、全流程数字 化营销。支持即时零售、社交电商、直播电商等新业态新模式健康发展。健全品质电商标准体系，引导 电商平台推出品质商家培育举措，优化以提升供给品质为导向的平台规则。鼓励电商平台加大对产品定 制生产、数智供应链、人工智能场景应用及偏远地区物流配送等方向投入力度，推进数字供给与数字消 费的精准匹配与有效对接。支持垂直产业电商发展，拓展专业领域消费渠道。 ...

Group 1 - The core viewpoint is that a series of policies aimed at boosting consumption have led to stable growth in the consumer market, with an optimization in the sales structure of goods and a continuous release of service consumption demand [1] Group 2 - In August, the total retail sales of consumer goods increased by 4.1% year-on-year in real terms, accelerating by 0.2 percentage points compared to the previous month, indicating stable growth in the consumption market [1] - Nearly 80% of retail categories in limited enterprises saw growth in August, with retail sales of household appliances and audio-visual equipment, as well as furniture, exceeding a 10% year-on-year growth rate [3] Group 3 - Online consumption has accelerated continuously, with online retail sales growing by 9.6% year-on-year from January to August, marking a 0.4 percentage point increase compared to the previous month, reaching a new high for the year [5] - Emerging fields such as digital consumption and green consumption are maturing and becoming new growth drivers for consumption [5]

Group 1: Industry Trends - The 2025 E-commerce Conference in Beijing emphasizes "Digital Intelligence Leading, Quality Innovation" as the theme, highlighting the transition of global e-commerce into a new development phase driven by AI and big data [1] - Quality e-commerce is becoming a consensus in the industry, focusing on emotional connections with consumers and enhancing shopping experiences through cultural and emotional value [1][4] - The rise of service e-commerce is noted, with companies like Meituan and JD Home Services expanding from product-based to service-oriented models, creating a new blue ocean for e-commerce [2] Group 2: Technological Integration - AI technology is penetrating key operational areas of e-commerce, such as product selection, marketing, and customer service, leading to cost reduction and efficiency improvements [1][2] - Emerging technologies like AIGC are lowering operational barriers for merchants and stimulating innovation potential, positioning AI as a foundational infrastructure for the next generation of e-commerce ecosystems [1] Group 3: Market Performance - In Beijing, online retail sales reached 578.66 billion yuan in 2024, a growth of 136.33 billion yuan from 2020, accounting for over 40% of the city's total retail sales [3] - From January to July 2025, Beijing's online retail sales were 303.51 billion yuan, representing 39.55% of total retail sales, surpassing the national average by 14.64 percentage points [3] Group 4: Sustainability and Circular Economy - E-commerce platforms are accelerating the practice of circular economy and green consumption, with companies like Zhuanzhuan promoting efficient circulation of idle resources through standardized second-hand trading and quality inspection systems [2][7] - The focus on quality innovation is seen as a stabilizing force for the e-commerce industry, driving the wave of quality enhancement and brand value reconstruction [5]

Group 1: E-commerce Trends and Innovations - The 2025 E-commerce Conference in Beijing emphasizes "Digital Intelligence Leading, Quality Innovation" as the theme, highlighting the role of AI and big data in driving the new development phase of global e-commerce [1] - Quality e-commerce is becoming a consensus in the industry, focusing on emotional connections with consumers and enhancing shopping experiences through cultural and emotional value [1][11] - AI technology is penetrating key operational areas of e-commerce, such as product selection, marketing, and customer service, leading to cost reduction and efficiency improvements [1] Group 2: Service E-commerce and Market Dynamics - Service e-commerce is emerging as a new growth driver, with companies like Meituan and JD Home Services integrating digital resources to expand from product e-commerce to service e-commerce [2] - Cross-border e-commerce shows resilience despite global economic uncertainties, remaining a core pathway for Chinese enterprises to expand internationally [2] - The competition in e-commerce is shifting from scale expansion to quality enhancement and model innovation, with a focus on quality, AI empowerment, and green transformation [2] Group 3: Regional E-commerce Growth - E-commerce is a significant engine for consumption growth in Beijing, with online retail sales reaching 578.66 billion yuan in 2024, a 136.33 billion yuan increase from 2020 [3] - New e-commerce models such as live streaming, instant retail, and immersive consumption experiences are actively emerging in Beijing [3] - The city is prioritizing e-commerce development, optimizing the environment for high-tech, multi-platform, and quality-focused market characteristics [3] Group 4: Quality Innovation and Industry Standards - Quality innovation is identified as a cornerstone for the e-commerce industry's development, with AI and big data driving transformative changes [4] - The China Commercial Federation aims to establish industry standards and enhance the quality of transactions to support high-quality development in e-commerce [5] Group 5: International Cooperation and Digital Transformation - International cooperation is crucial for small and medium enterprises (SMEs) to benefit from e-commerce, with over 80% of companies successfully reducing costs through digital technology [6] - China serves as a model for international cooperation in e-commerce through initiatives like the "Silk Road E-commerce" [6] Group 6: Consumer-Centric Approaches - Live streaming e-commerce is viewed as a traditional retail industry enhanced by new technologies, focusing on consumer needs for quality products and reliable service [7] - AI is driving the expansion and quality enhancement of digital service consumption, with online service consumption growing by 13.3% year-on-year [8] Group 7: Circular Economy and Sustainability - E-commerce platforms are playing a vital role in promoting the circular economy, with companies like Zhuanzhuan facilitating the efficient circulation of idle resources [9][10] - The establishment of standardized trading processes and quality inspection systems by Zhuanzhuan supports the development of green consumption [10] Group 8: Emotional Engagement in Consumer Products - The integration of emotional content into product design is enhancing consumer loyalty and expanding new consumption boundaries in the潮玩 economy [11]