Core Insights - The takeaway from the article is that the food delivery market has shifted from a duopoly to a three-way competition involving JD, Meituan, and Taobao, significantly altering the previously stable market dynamics [1][7][20] - The competition has led to a re-evaluation of strategies, with JD leveraging its e-commerce ecosystem to enhance its food delivery service, focusing on quality rather than aggressive subsidies [13][16] Market Dynamics - JD's food delivery service achieved over 25 million daily orders within 90 days of launch, disrupting the long-standing duopoly of Meituan and Ele.me [2][4] - The market is now expected to be divided among the three major platforms, with Taobao/Ele.me holding 34.2%, JD at 33.5%, and Meituan at 28.9% [4] - JD's strategy of differentiated competition allowed it to avoid the pitfalls of excessive subsidy wars, maintaining a stable presence in the market [2][10] Consumer Behavior - Consumers are increasingly distributing their orders across the three platforms, with JD gaining recognition for its quality offerings, leading to a shift in user preferences [6][12] - The cessation of irrational subsidies has prompted consumers to return to a more rational consumption pattern, favoring platforms that provide quality service [4][6] Business Synergy - The integration of JD's food delivery with its e-commerce operations has created significant synergies, driving user engagement and increasing shopping frequency [9][10] - JD's food delivery service has contributed to a 198.8% growth in new business revenue, showcasing the effective collaboration between food delivery and core retail [10][12] Future Outlook - The future of the food delivery market will hinge on the ability of platforms to create collaborative value rather than just competing on delivery speed and service quality [15][16] - JD's focus on quality food delivery, supported by its robust supply chain, positions it well for sustained growth and consumer loyalty [16][18] - The ongoing competition among JD, Meituan, and Taobao is expected to foster a healthier market environment, encouraging innovation and improved service offerings [20][21]

日前，据多家媒体报道，原京东秒送业务负责人杨文杰在被调离岗位三个多月后，已于近期正式从京东离职。 据悉，早在今年5月，负责京东外卖配送业务的杨文杰已被调往京东零售政企事业部，转而负责中小客户相关沟通工作。 公开资料显示，杨文杰在加入京东之前，曾是美团外卖的早期核心成员。他于2016年3月担任美团外卖业务发展部总经理，负责过美团外卖的整体商流工 作。2024年，杨文杰加入京东，并出任京东集团副总裁、达达秒送总经理，负责京东秒送平台的配送服务体系建设。 ...

Core Insights - The takeaway from the report by iResearch is that the subsidy war in the food delivery market is receding, leading to a significant shift in user preferences and consumption habits, resulting in a new competitive landscape where the market share is expected to be evenly distributed among Taobao, JD, and Meituan [1][3] Market Dynamics - The overall food delivery market is projected to see Taobao's flash purchase and Ele.me slightly leading with a 34.2% market share, followed closely by JD's quick delivery at 33.5%, and Meituan at 28.9% [1][3] - The competition among the three major players has reached a stalemate, indicating a long-term battle rather than a quick resolution [3][4] User Behavior Changes - The intense subsidy competition has reshaped consumer behavior, with a shift in focus from price to product quality and overall service experience [5][13] - iResearch found that 81.3% of users are willing to pay extra for a combination of "physical stores + high-rated merchants + timely delivery + compensation guarantees" [6] User Segmentation - The food delivery market has seen the emergence of three distinct user segments: - Price-driven users (49.3%) who are sensitive to price changes - Value-driven users (26.8%) who prioritize quality and experience - Opportunistic users (19.5%) who only order during promotions [6][7] Competitive Landscape - In the "ordinary delivery" segment, Taobao's flash purchase and Ele.me lead with 54.4%, while in the "quality delivery" segment, Taobao and Ele.me lead with 43.4%, followed by JD at 39.8% [8][10] - JD has established a reputation for "quality delivery," which has positively influenced user preferences, with 59.5% of users indicating they will increase their frequency of ordering from JD [10][11] Platform Strategies - The competition has evolved from a focus on traffic acquisition to a deeper emphasis on business synergy and comprehensive capabilities [19][22] - JD's food delivery service has quickly gained traction, contributing to overall user growth and cross-category purchasing behavior [20][21] Conclusion - The decline of the subsidy bubble has led to a more rational consumer base that values product quality and service experience, indicating a shift in the competitive dynamics of the food delivery market [13][22]

Core Insights - Vanke Property has set a new Guinness World Record for the largest simultaneous online CPR training session, with over 20,000 users participating through the "Neighbor Good Service" video account [1][2] - The event is part of Vanke's G4 initiative, which focuses on enhancing community emergency rescue capabilities, particularly in cardiac arrest situations [4] Group 1: CPR Training and Community Safety - The CPR training event achieved a peak live viewership of 20,917 and over 100,000 total views, marking a significant milestone in community safety efforts [2] - Vanke Property has installed 3,435 AED devices across 2,431 projects nationwide, with 685 new devices added this year, achieving full AED coverage in all residential communities in Shenzhen [4] - Over 800 individuals have become CPR training instructors, with more than 50,000 people trained in practical CPR skills and over 270,000 completing online theoretical training [4] - The initiative has successfully saved 31 lives through the application of CPR skills learned in training [4] Group 2: Partnerships with Meituan and Didi - Vanke Property has deepened its collaboration with Meituan by launching exclusive food delivery coupons on the "Live Here" app, enhancing user experience and service quality [5] - Meituan has a monthly active rider base of 3.36 million and has implemented a streamlined community access process through data integration [7] - Vanke Property has partnered with Didi to provide users with discount coupons for rides, enhancing the overall travel experience for residents [8][10] - The collaboration aims to redefine modern community living by improving service efficiency and user convenience [10] Group 3: "Live Here" App Development - The "Live Here" app has integrated over 4,100 communities and has 15.69 million registered users, evolving from a property service tool to a comprehensive local living platform [12] - The app now includes AI features to provide residents with information on daily conveniences, community activities, and neighborhood exchanges, acting as a "street life guide" [12] - Vanke Property plans to continue expanding the G4 initiative and deepen partnerships with Meituan and Didi to enhance community service quality [12]

记者丨贺泓源 实习生 刘瑾睿 李音桦 编辑丨高梦阳 外卖大战，正在深刻地改变餐饮业。 比如，在号称800亿元规模的补贴下，淘宝闪购日均订单峰值达到1.2亿，美团也达到每日1亿订单量。 此种局面下，深刻冲击了承担着高房租的社区餐饮门店的客流，因为消费者被分流到线上外卖平台了。 眼下，餐饮本就不容易。 不少餐饮老板都向我强调，至少社区餐饮房租，必须降了！ 今天，我们就来聊下，外卖大战冲击下餐饮房租究竟去向何方。 首先，我们来看看餐饮市场究竟怎么样？ 答案是并不乐观。 一方面，价格战加剧。美团研究院数据显示，2024年，47.8%的持续经营餐饮商户降低了人均价位。其中，在人均价位 在百元以上的餐厅中，超过80%的商户出现了客单价下降的情况。 客观上，餐饮房租已经有了下滑态势。 不少餐饮品牌创始人告诉记者，一线城市的头部商场房租坚挺，甚至微涨。其他区域，房租有了松动趋势，但跌幅不 够明显。 需要看到，现在一线城市餐饮市场处在收缩区间。1—7月，北京餐饮收入同比下降3.6%至792.0亿元。同期，上海的餐 费收入同比下降2.9%至1141.95亿。 这意味着，随着营收下滑，一线城市的餐馆对高价房租的忍耐力明显下降。 社 ...

骑手参与监督是平台加强食品安全全链条保障的系列举措之一。据悉，美团此前组建了"放心外卖"专项 小组，强化资质证照审核验真，加强线下巡检，推进"明厨亮灶"等食品安全透明化举措落实落地。"在 准入阶段，与16省市的市场监管部门完成资质证照数据对接，严把入网证照审核。在运营阶段，推动各 部门协同，提升违规店铺识别模型准确率，对高风险品类进行判定，识别高风险商户。"美团相关负责 人介绍。 活动中，骑手监督员们还参观了食品快速检测实验室，西城区展览路市场监管所的技术人员现场操作便 携式多功能食品快检设备，对日常食材进行农药残留、兽药残留、非法添加物等项目的快速检测。多位 骑手监督员亲手体验了部分快检步骤，对这项守护"舌尖安全"的快速防线有了切身体会。 据介绍，针对骑手在送餐过程中发现食品安全隐患线索，外卖平台内部治理机制是重要的反馈渠道之 一。"平台采用网格化管理模式，能够实现快速指派业务管理人员进行现场核查，处置效率高。"美团相 关负责人提到，一些平台建立了对骑手等举报者的奖励机制，可以有效激励送餐人员主动上报身边的风 险隐患，推动形成监督合力。 2025年4月，在北京市网约配送行业党委的指导下，美团（北京）党委发挥 ...

Core Viewpoint - The super typhoon "Haikui" is expected to severely impact Shenzhen and Guangzhou, leading to the suspension of delivery services by major platforms to ensure the safety of delivery personnel [1] Company Responses - Meituan has activated its special weather response plan and will suspend delivery services in Shenzhen starting from 6 PM on September 23 [1] - Taobao Shangu and Ele.me have also announced the suspension of order-taking and delivery services in Shenzhen from 6 PM on September 23, in accordance with local government announcements [1] Industry Impact - The super typhoon is projected to bring strong winds, heavy rain, and storm surges to Guangzhou from the night of September 23 to 25, prompting the city to implement a "five stoppages" policy (suspending classes, work, production, transportation, and business operations) to protect public safety [1]

（文章来源：第一财经） 据第一财经记者了解，由于台风"桦加沙"来袭，根据政府部门的防控要求以及为保障骑手安全，美团外 卖已迅速启动了特殊天气应对预案，将于9月23日18点起在深圳暂停外卖服务。 ...

Core Insights - The "subsidy war" in the food delivery industry is losing momentum, leading to a more rational consumer choice and a shift in market competition logic [1][6] - The market is now characterized by a "three-way split," with 34.2% of consumers choosing Taobao Shanguo, 33.5% opting for JD Delivery, and 28.9% selecting Meituan, indicating a balanced market structure [1][3] Market Dynamics - Historically, the food delivery market exhibited a "strong vs. weak" competition, with Meituan dominating due to early user accumulation, while Ele.me struggled to close the market share gap [3] - The end of the subsidy war has shifted competition from "price wars" to "value competition," providing opportunities for new entrants like JD Delivery to establish a foothold [3][6] - JD Delivery has focused on "differentiated competition," leading the quality food delivery segment with a 35.6% future order expectation share, appealing to 26.8% of "value-driven users" who prioritize delivery efficiency and food quality [3][8] Consumer Preferences - Consumer demands for "quality food delivery" have evolved beyond taste to include safety, compliance, and transparency, with trust in merchants becoming a key differentiator [4][6] - Key factors distinguishing "quality food delivery" from regular options include "physical store assurance" (12.5%), "complete qualifications" (11.8%), and "regular hygiene checks" (10.9%) [4] Industry Trends - As consumer expectations for quality rise, the food delivery industry is transitioning from "extensive growth" to "high-quality development," focusing on service upgrades and food safety [6][14] - The shift in consumer behavior due to the subsidy war has led to increased app usage, with Meituan's daily app usage growth at 16.66% in April, followed by JD's 23.87% in May, indicating a reshuffling of market dynamics [10][12] Competitive Landscape - The competition is now defined by the platforms' comprehensive capabilities, with JD and Taobao showing stronger cross-category purchasing tendencies compared to Meituan [12][14] - The cycle of "ordering-cross-buying-retention" reinforces high-frequency consumption and creates synergies with other product categories, marking a shift from "subsidy internal competition" to "value competition" [14]

Market Overview - On September 22, the Hang Seng Index fell by 0.76%, with southbound trading totaling HKD 136.09 billion, comprising HKD 74.41 billion in buying and HKD 61.68 billion in selling, resulting in a net buying amount of HKD 12.736 billion [1] Southbound Trading Details - Southbound trading through the Stock Connect (Shenzhen) recorded a total transaction amount of HKD 50.073 billion, with buying at HKD 27.328 billion and selling at HKD 22.745 billion, leading to a net buying of HKD 4.583 billion [1] - Southbound trading through the Stock Connect (Shanghai) had a total transaction amount of HKD 86.020 billion, with buying at HKD 47.087 billion and selling at HKD 38.933 billion, resulting in a net buying of HKD 8.154 billion [1] Active Stocks - Alibaba-W was the most actively traded stock with a total transaction amount of HKD 90.45 billion and a net buying of HKD 26.14 billion, while SMIC and Shankai Holdings followed with transaction amounts of HKD 89.67 billion and HKD 55.25 billion respectively [1] - The top net buying stock was the Tracker Fund of Hong Kong (盈富基金) with a net buying amount of HKD 28.64 billion, despite a closing price drop of 0.88% [1] - Meituan-W had the highest net selling amount of HKD 3.85 billion, with a closing price decline of 2.26% [1] Continuous Net Buying - Alibaba-W and Pop Mart were the only two stocks with continuous net buying for more than three days, with Alibaba-W having a total net buying of HKD 604.43 billion over 22 days, and Pop Mart with HKD 21.28 billion over 3 days [2] Summary of Active Stocks on September 22 | Code | Name | Transaction Amount (HKD million) | Net Buying (HKD million) | Daily Change (%) | | --- | --- | --- | --- | --- | | 02800 | Tracker Fund | 300062.61 | 286406.81 | -0.88 | | 09988 | Alibaba-W | 904530.67 | 261418.50 | 0.06 | | 02828 | Hang Seng China Enterprises | 86111.09 | 86061.50 | -1.48 | | 06088 | FITHONTENG | 240377.57 | 45123.01 | 17.83 | | 00412 | Shankai Holdings | 552511.40 | 42858.63 | 29.76 | | 00981 | SMIC | 896702.36 | 31778.65 | 5.16 | | 01810 | Xiaomi Group-W | 289237.11 | 15351.09 | -1.06 | | 00700 | Tencent Holdings | 342267.30 | 13464.57 | -0.23 | | 02020 | Anta Sports | 80758.47 | 12271.30 | -2.22 | | 01347 | Hua Hong Semiconductor | 79088.60 | 10589.67 | 3.57 | | 02228 | Crystal International | 158175.95 | 6579.02 | 8.06 | | 09992 | Pop Mart | 152325.56 | 1922.21 | -1.40 | | 03690 | Meituan-W | 382208.58 | -38469.29 | -2.26 | [2]