文 | 品牌工厂BrandsFactory 2025年8月23日，京东旗下跨境电商平台Ochama在欧洲正式停止运营，相关用户数据自8月15日起已启 动迁移。 此次关停并非彻底退出，官方称这是以"品牌升级"的方式并入京东另一跨境品牌Joybuy，完成业务整 合。 品牌工厂了解到，从8月份开始，就有很多卖家咨询如何入驻Joybuy，最近，也有不少非核心市场的用 户在小红书吐槽，自己所在的区域已经不能使用Ochama了。 有观点指出，单从Ochama并入Joybuy这一动作来看，虽然收缩了"战线"，但京东的海外业务方向更明 确，负担更轻，反而增加了其在这场漫长"欧陆商战"中存活下来并找到自己生态位的可能性。 作为京东欧洲全品类在线零售品牌，现在的Joybuy也是经过了多次战略试错与模式迭代，两次关停又 重启，最终确立了以全自营和供应链能力为核心优势的全新出海路径。 根据公告，原Ochama用户可通过账户迁移流程继续使用Joybuy的服务。不过，此次整合也伴随着市场 范围的收缩——Joybuy将仅面向英国、法国、德国、荷兰、比利时和卢森堡六个国家提供服务，而此前 Ochama所覆盖的意大利、西班牙、葡萄牙等其他19 ...

森宝利表示，与京东的交易将加速Argos的转型，京东将带来"世界一流的零售、技术和物流专业知 识"，并投资推动Argos的增长并进一步提升客户体验。森宝利还强调，目前尚未与京东达成任何协议， 并且尚不确定交易是否会继续进行。 京东在欧洲又有了新动向。 英国第二大连锁超市集团森宝利（J Sainsbury plc）周六在其官网发布公告，确认正在就出售子公司 Argos Retail Group Limited（"Argos"）的潜在事宜与京东集团进行洽谈。 针对此事，新消费日报记者向京东方面发去采访需求，截至发稿，暂未收到回应。 9月1日，京东集团在港交所发布公告，其全资间接附属公司JINGDONG Holding Germany GmbH向 Ceconomy所有股东发出自愿公开收购要约，以每股4.60欧元的现金对价，收购Ceconomy所有已发行及 流通的不记名股份。收购要约接受期从2025年9月1日开始，至2025年11月10日下午六时（纽约时间） 止，特定情况下可延长。 值得一提的是，这笔交易对Ceconomy估值22亿欧元，折合人民币约185亿元，若收购完成，将创下中国 电商出海欧洲的新纪录。收购要约完 ...

Group 1 - The U.S. has suspended tax exemptions on imported packages valued under $800, causing significant cost pressures in the cross-border e-commerce sector [1] - Many e-commerce companies are leveraging artificial intelligence (AI) technology to mitigate these cost challenges [1][2] - There is a growing interest from foreign clients in sourcing products from China, with Alibaba's 1688 platform facilitating direct connections between foreign buyers and Chinese manufacturers [1] Group 2 - The cancellation of the tax exemption has led to a shift in order sizes, with foreign clients opting for smaller, more frequent orders to reduce risk [2] - AI applications introduced by Alibaba are streamlining the process for merchants, allowing them to handle increased order volumes with reduced workload [2] - The cross-border e-commerce sector is experiencing rapid growth, with over 7 million cross-border users and a transaction scale exceeding 300 billion yuan [2] Group 3 - JD.com is also showcasing its cross-border e-commerce platforms at the trade fair, highlighting its AI technology and international retail operations [3] - The removal of the tax exemption is expected to reshape the business model of cross-border e-commerce, prompting a focus on refined management and technology-driven growth [3]

靴子落地。 9月1日，京东在港交所发布内幕消息公告，通过京东德国向欧洲企业CECONOMY正式发出收购邀约。邀约与7月底的报道细节一致，每股作价4.6欧元， 总金额约22亿欧元（184亿元人民币）。 这个交易价格较截至2025年7月23日的三个月成交量加权平均价（VWAP）溢价约42.6%，但仍然称得上性价比。 根据二季度财报，京东包含外卖在内的新业务单季亏损高达148亿，两个季度的投入就会远超这笔战略收购。 刘强东需要新故事，京东也需要，而出海起码还具备一个合理商业故事的基本要素。 比拼多多成立还早的出海梦 刘强东对京东的国际化规划是很早的。 早在2014年的年会上，他就提到国际化是他心里面最后一个梦。 当时国内的电商格局仍然是一超一强，阿里如日中天，京东蒸蒸日上，苏宁国美一触即溃，中亚当当不值一提，刘强东没预期到会有新的对手冒出来，已 经在规划退休生涯。 他希望国际化实现了，自己能回家抱孙子。这个梦到今天当然仍然没能实现，刘强东后来也只抱上了儿子。 今年6月，在解释京东做外卖酒旅的逻辑时，也再次提到想尽早把国内业务交出去，全职去做国际。但京东的国际化业务从上线开始，就一直在业务震荡 中曲折踏步，管理层也一 ...

Group 1 - JD Group announced a voluntary public takeover offer for CECONOMY's shares at a price of €4.60 per share, valuing the transaction at €2.2 billion, which exceeds 18 billion RMB [1][4] - The acquisition aims to enhance CECONOMY's digital transformation, leveraging JD's expertise in digital technology, omnichannel retail experience, and logistics [4] - CECONOMY operates over 1,000 physical stores across 11 European countries and has struggled with sales growth, with a compound annual growth rate of only 0.8% from 2022 to 2024 [4] Group 2 - JD's internationalization efforts have intensified, with the launch of the Ochama omnichannel retail brand in Europe and the reintroduction of the Joybuy online retail brand [5] - The company has initiated a "100 billion, 1,000 products new growth plan" to introduce 1,000 overseas brands over the next three years, aiming for a cumulative sales growth of 10 billion RMB [5] - JD completed the acquisition of Hong Kong-based supermarket chain Jia Bao Foods, establishing a new business unit focused on innovative retail [5]

Group 1 - Didi's Q2 orders increased by 15.2% year-on-year, with international business daily orders reaching 11.96 million [4][6] - JD's cross-border e-commerce brand Joybuy launched in France and plans to enter Germany next [4][6] - Temu topped Brazil's e-commerce traffic with 410 million visits, a 70% increase month-on-month [4][6] Group 2 - TikTok Shop upgraded logistics in Southeast Asia to offer next-day delivery services [7] - Leapmotor's European manufacturing base will be established in Zaragoza, Spain, with production expected to start in Q3 2024 [7] - BYD announced plans to build an assembly plant in Malaysia, expected to start production in 2026 [7] Group 3 - Feishu upgraded its overseas solutions and signed contracts with eight companies in South China [8] - Junsheng Electronics partnered with Alibaba Cloud for AI collaboration to develop intelligent robots [8] - DramaWave's annual revenue surpassed $240 million, positioning it as a leader in the overseas short drama market [8] Group 4 - Haicheng Energy's cumulative shipment exceeded 100 GWh, with a global service network covering over 20 countries [9] - Meikaman completed nearly 500 million yuan in financing, with overseas revenue accounting for 50% [10] - AI toy company Haivivi completed 200 million yuan in Series A financing, becoming the world's largest AI toy supplier [10] Group 5 - Hefei Tianyao completed several million yuan in A-round financing to expand overseas markets [10] - Tianxing Exploration completed angel round financing to develop satellite internet services [11] - Weijian Intelligent raised over 100 million yuan in B-round financing, with over 20% of orders coming from exports [11] Group 6 - Amazon's Prime Day will take place globally on October 7-8, covering 16 countries [12] - The Ministry of Commerce announced measures to optimize service export tax declaration processes [13] - New US tariff regulations have led 25 countries to suspend parcel shipments to the US [13]

Company Dynamics - Didi's Q2 orders increased by 15.2% year-on-year, with a total transaction value (GTV) of 109.6 billion yuan, reflecting a 15.9% growth at fixed exchange rates [2] - JD's cross-border e-commerce brand Joybuy officially launched in France, with plans to enter the German market soon [2] - Temu topped Brazil's e-commerce traffic with 410 million visits in July, a 70% increase month-on-month, surpassing competitors like Mercado Livre and Shopee [2] - TikTok Shop upgraded its logistics in Southeast Asia, implementing next-day delivery services across six countries, with over 170,000 merchants participating [3] - Leapmotor's European manufacturing base will be established in Zaragoza, Spain, with production expected to start in Q3 2026 [3] - BYD announced plans to build an assembly plant in Malaysia, expected to commence production in 2026 [3] Investment and Financing - Mech-Mind Robotics completed a nearly 500 million yuan financing round, with overseas business revenue accounting for 50% [6] - AI toy company Haivivi raised 200 million yuan in Series A financing, becoming the global leader in AI toy shipments [6] - Hefei Tianyao, a semiconductor materials developer, completed a multi-million yuan Series A financing to expand overseas markets [6] - Tianxing Exploration, focused on satellite internet, secured angel round financing for core technology development [6] - Weijian Intelligent, a chip packaging equipment developer, raised over 100 million yuan in Series B financing, with over 20% of orders coming from exports [6] Policy & Market - Amazon's Prime Day will globally launch on October 7-8, covering 16 countries, providing cross-border sellers with significant traffic opportunities [8] - The Ministry of Commerce announced measures to optimize the service export zero tax rate declaration process, enhancing export tax refund efficiency [8] - New US tariff regulations create uncertainty, with 25 countries suspending parcel shipments to the US due to changes in tax exemptions [8]

Core Viewpoint - JD.com is making significant investments in Europe as part of its internationalization strategy, with a focus on establishing a strong local presence and infrastructure to enhance its competitiveness in the European market [10][20][31] Group 1: JD.com's Internationalization Strategy - JD.com began its international expansion in 2016, starting with Indonesia, and has since entered Thailand and Vietnam, aligning its strategy with China's Belt and Road Initiative [4][5] - The company has set ambitious goals for its European operations, including a €1 billion investment in logistics in France and the establishment of a research center in the UK focused on AI and big data [4][5] - JD.com aims to create a localized e-commerce model in Europe, emphasizing local infrastructure, employees, and procurement, moving away from a cross-border e-commerce model [27][31] Group 2: Recent Developments and Investments - In July 2023, JD.com announced a significant acquisition of Ceconomy for approximately RMB 18 billion, which would enhance its retail presence in Europe and address supply chain challenges [10][11] - The company has already established two self-operated e-commerce platforms in Europe, Ochama and Joybuy, and is expanding its logistics network across multiple countries [12][19] - JD.com has invested around RMB 5 billion in various logistics facilities in Europe, aiming to build a comprehensive logistics infrastructure to support its operations [18][19] Group 3: Market Potential and Challenges - Europe represents a substantial market opportunity for JD.com, with a population of over 740 million and being the third-largest consumer market globally [20][21] - The European e-commerce market is projected to grow, with a total revenue of $631.9 billion in 2024, indicating a strong potential for JD.com's growth [20] - However, JD.com faces challenges in adapting its corporate culture to European labor practices, which differ significantly from its traditional "wolf culture" in China [29][30][31]

Core Insights - The core viewpoint of the article emphasizes that JD Group is committed to long-term growth in its food delivery business, aiming for sustainability over immediate results [1][5][12] Financial Performance - In Q2, JD Group reported revenue of 356.7 billion yuan, a year-on-year increase of 22.4%, marking the highest growth rate in nearly three years [1][8] - JD Retail's revenue grew by 20.6% year-on-year, with an operating profit margin of 4.5%, the highest for any promotional quarter in the company's history [1][8] - Non-GAAP net profit attributable to shareholders was 7.4 billion yuan, a decline of 48.87% year-on-year, slightly below broker expectations [2] Business Growth and User Engagement - The food delivery segment contributed significantly, with new business revenue increasing by 199% year-on-year [1][8] - The number of active users and shopping frequency both grew by over 40% year-on-year, with active users achieving double-digit growth for seven consecutive quarters [1][8] Strategic Initiatives - JD Group views food delivery and instant retail as essential supplements to its core e-commerce business, indicating no intention to retract from these areas [5][6] - The company has launched its first restaurant infrastructure brand, "Seven Fresh Food Mall," and plans to establish 10,000 "Seven Fresh Kitchens" across the country within three years [9] International Expansion - JD Group is accelerating its international market strategy, including a bid to acquire European consumer electronics retailer CECONOMY for approximately 2.2 billion euros [10] - The company aims to leverage its supply chain capabilities to support both Chinese brands entering overseas markets and local e-commerce operations [10][11] Future Outlook - JD Group's investments in embodied intelligence and various sectors indicate a focus on enhancing logistics and supply chain efficiency [12] - The food delivery business is seen as a defensive strategy to stabilize the core e-commerce operations while exploring long-term sustainable growth through international expansion and supply chain development [12][13]

Core Insights - The recent developments at JD.com mark a significant turning point, with a renewed focus on international expansion and AI integration following a period of stagnation [1][2][11] - JD.com is actively pursuing a strategy of localizing its international operations, emphasizing local teams and procurement, which differentiates it from traditional cross-border e-commerce models [3][4][11] International Expansion - JD.com has launched a semi-managed business model to enhance its global e-commerce presence, covering key markets such as the US, UK, Australia, Japan, and several Southeast Asian countries [4] - The acquisition of Ceconomy, valued at approximately €2.2 billion (over ¥18 billion), is aimed at strengthening JD.com's foothold in Europe, leveraging Ceconomy's extensive retail network and supply chain capabilities [4][5][6] - In Hong Kong, JD.com is investing significantly to enhance its market competitiveness, including a recent acquisition of the local supermarket chain,佳宝, to improve its operational efficiency and brand presence [6][7] AI Development - JD.com is shifting its approach to AI, moving from a low-profile strategy to actively showcasing its capabilities, integrating AI across its retail operations to enhance efficiency and customer experience [8][10] - The company has established a dedicated unit for embodied intelligence and has invested in multiple AI robotics firms, indicating a comprehensive strategy to develop smart products for home use [9][10] - JD.com is committed to building a robust AI ecosystem through self-research, investments, and partnerships, aiming to create value across various applications [10][11] Strategic Signals - The return of founder Liu Qiangdong to a more active role is seen as a catalyst for renewed strategic focus and operational vigor within the company [11] - The current investment climate in the internet sector is characterized by a resurgence in mergers and acquisitions, particularly in AI, internationalization, and instant retail [11] - The importance of ecosystem development is highlighted, as JD.com seeks to expand its business through collaboration rather than isolated efforts, positioning itself for future competitive advantages [11]