国家网信办约谈英伟达 近日，英伟达算力芯片被曝出存在严重安全问题。此前，美议员呼吁要求美出口的先进芯片必须配备"追踪 定位"功能。美人工智能领域专家透露，英伟达算力芯片"追踪定位""远程关闭"技术已成熟。为维护中国用 户网络安全、数据安全，依据《网络安全法》《数据安全法》《个人信息保护法》有关规定，国家互联网信 息办公室于2025年7月31日约谈了英伟达公司，要求英伟达公司就对华销售的H20算力芯片漏洞后门安全风 险问题进行说明并提交相关证明材料。 国家统计局：7月份制造业PMI为49.3%，比上月下降0.4个百分点 据国家统计局，7月份，制造业采购经理指数（PMI）为49.3%，比上月下降0.4个百分点，制造业景气水平 有所回落。从企业规模看，大型企业PMI为50.3%，比上月下降0.9个百分点，高于临界点；中型企业PMI为 49.5%，比上月上升0.9个百分点，低于临界点；小型企业PMI为46.4%，比上月下降0.9个百分点，低于临界 点。从分类指数看，在构成制造业PMI的5个分类指数中，生产指数和供应商配送时间指数均高于临界点， 新订单指数、原材料库存指数和从业人员指数低于临界点。 我国大模型应用个人用 ...

Group 1: JD's Acquisition and Retail Developments - JD announced the acquisition of German retailer Ceconomy for approximately €2.2 billion (over 18 billion RMB), with a cash offer of €4.60 per share, resulting in a 25.35% stake in Ceconomy while maintaining its independent operations [7] - Moutai's official authorized store has launched on Meituan Flash Purchase, expanding its presence across the country with multiple stores now operational [7] Group 2: Corporate Changes and Financial Performance - Wushang Group's board secretary, Li Xuan, has retired, and Deputy General Manager Zhong Ziqin will temporarily assume the secretary's responsibilities until a new appointment is made [8] - Luckin Coffee reported a record net revenue of 12.359 billion RMB for Q2 2025, a 47.1% year-on-year increase, with a net profit of 1.251 billion RMB, up 43.6% [9] Group 3: Retail Innovations and Market Strategies - Yonghui Supermarket opened its 11th "Fat Donglai" model store in Xi'an, marking a significant expansion of its strategic layout in the region [12] - Walmart's global e-commerce has established 11 operational offices in China, expanding its presence beyond major cities [14] - Pinduoduo updated its shipping rules, requiring that gift items be shipped within the same timeframe as the main transaction items, effective August 7, 2025 [15] Group 4: New Ventures and Product Development - Xiaoxiang Supermarket has established a new company in Anhui with a registered capital of 10 million RMB, focusing on internet sales and food services [16] - Sam's Club China President Jane Ewing was seen at the Guangzhou Tianhe store, indicating active management and oversight as the company prepares for leadership transitions [17] - JD plans to create 100 "million-level new products" and 20 "ten-million-level new products" in the AI toy sector, aiming to become a hub for AI toy brands [18] Group 5: Industry Trends and Consumer Products - Haoxiangni has launched a range of craft beers, diversifying its product offerings amid ongoing financial losses, raising concerns about potential over-diversification [20] - Qiaqia Foods is committed to developing more health and nutrition products tailored for the elderly demographic [22] - Haidilao opened its first high-end "Selected Store" in Beijing, focusing on premium hot pot offerings, as part of its strategy to capture the high-end market [22] - Hermès reported a 7% increase in revenue to €8 billion for the first half of 2025, with all regions showing growth, although net profit decreased by 5% to €2.2 billion [24]

Core Insights - Moutai's official store "Moutai Sauce Aroma · Shared by Thousands" has begun to enter the Meituan Flash Purchase platform nationwide since July, with plans for accelerated onboarding [1] - The initiative reflects a shift in Moutai's strategy towards embracing instant retail channels, which have been gaining importance in the liquor sales landscape [2] Group 1: Company Strategy - Moutai has authorized the bulk entry of its themed stores into instant retail platforms, indicating a proactive approach to expanding its sales channels [1][2] - The company previously had a cautious stance towards e-commerce, preferring to maintain control over its distribution channels [2] Group 2: Market Trends - Instant retail has become increasingly significant in the sales channels for liquor brands, with 34.9% of liquor companies prioritizing the expansion of instant retail channels, surpassing live-streaming e-commerce [1] - Meituan Flash Purchase reported a more than tenfold year-on-year increase in liquor transaction volume during the 618 shopping festival [1]