T111240的个人主页 - 老虎社区

T111240

T111240

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IP属地：广东

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05-21

国人的公司真的很多坑

JD.com Drops 5% After the Company Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes

04-04

$阿里巴巴(BABA)$ 看好ai 加云，与国际商业加菜鸟物流，只要淘天稳住就好

06-28

拿几千工资的人，评价万亿的企业与千亿的企业家

时代造就淘宝，淘宝败给时代

05-30

T86问题就这一没底线的公司搞出来的，一人错整个行业买单

拼多多在海外杀疯了

05-21

都不打个正眼看

字节大模型大降价，百度、阿里能否抗住？

05-17

$(09988)$ 买股不就是买预期么？阿里2025财年指引明确了重回2位数增长。国际商业半托管真的能拉动大增长。

05-08

SB，水军

04-22

要看专利质量啊

中国人工智能发明专利TOP10企业：腾讯第一华为第五

04-12

$(09988)$ AI 加云，带动新业务发展，淘宝天猫在品牌心智这一板是很有护城河的，也是利润的来源。C店比低价，天猫能撑起利润。

03-02

这样看法，那temu 和希音这些岂不是死的更快？

全球速卖通增长“掉队”，阿里巴巴该如何破局？

01-28

作者，淘宝亚马逊很差吗？说了这么多年，也不见国内的汽车芯片产业起来，就一吹牛，博眼球，此庸人也

三十岁的亚马逊，遭遇淘宝式困境

2023-05-20

信任是最大的回报

蒋凡“杀回”阿里核心层

2022-03-29

$阿里巴巴-SW(09988)$这个价格很值得

去老虎APP查看更多动态

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href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>整个集团董事长兼CEO的位置，并非是靠运气得来的，而是靠着自己一路厮杀所展现出来的能力。他还是“双十一”这个伟大狂欢购物节的缔造者，帮助阿里巴巴成功的实现了从PC端到移动互联网的变迁。</span></p><p><span>其二，马云识人的本事，放眼整个互联网，有几人能说自己比马云厉害？既然当初决定把整个阿里巴巴集团都交给张勇来打理，马云也是经过足够的深思熟虑后才做的决定，同时也说明了马云对张勇能力的充分认可！</span></p><p><span>既然张勇并非无能之辈，又是有功之臣，那把淘宝的落寞归因于张勇的管理失策，又是否妥当呢？</span></p><p><span>很明显，不妥当。</span></p><p><span><strong>有人将淘宝的落寞归因于下沉市场的失败</strong></span></p><p><span>一直主打下沉市场的拼多多，这几年发展确实很猛，尤其是今天拼多多的市值已经超越阿里巴巴，这让很多人都说淘宝因为下沉市场的失利，所以输给了拼多多。</span></p><p><span>事实上并非如此。</span></p><p><span>淘宝很早就有布局下沉市场，甚至早于拼多多，10年前淘宝村也曾风靡一时。2014 年，阿里提出“千县万村”计划，要在3-5年间投资100亿元、建立1000个县级运营中心和10万个村级服务站。</span></p><p><span>可以说，淘宝对于下沉市场的重视和投入不弱于任何一个电商平台，包括拼多多和<a href=\"https://laohu8.com/S/JD\">京东</a>。</span></p><p><span>当初的淘宝，不论是下沉市场和农村市场的商家还是用户规模，淘宝也是强于其他任何一个电商平台。</span></p><p><span>然而，淘宝在下沉市场确实失利了，但要将淘宝落寞的核心原因归因于下沉市场的失败，同样也是站不住脚的。</span></p><p><img src=\"https://static.tigerbbs.com/2c448de5e6b646d6b1acd2c08257ac03\"/></p><p><span><strong>有人将淘宝的落寞归因于内容电商的失落</strong></span></p><p><span>抖音、快手、小红书借助内容电商崛起，确实对整个电商格局产生了非常大的影响，尤其是今天的抖音，已经成长为中国电商的第四极。</span></p><p><span>事实上，淘宝在短视频、直播等内容电商的布局和投入，同样不弱于任何一家电商平台和任何一家短视频直播平台。</span></p><p><span>早在2016年4月，时任阿里CEO的张勇就将社区化、内容化定为淘宝未来的方向。之后，淘宝上线了直播频道、淘宝头条、问大家和淘宝社区等一些列内容专区。与此同时，淘宝也开始全面打造短视频，开始打造自己的短视频APP。</span></p><p><span>在直播方面的布局，淘宝就更早了。而最早在电商直播做出成果的当属淘宝直播了，薇娅、李佳琦等一众头部主播都诞生于淘宝直播。此后，才有了抖音电商直播、快手电商直播对淘宝直播的效仿。</span></p><p><span>今天的淘宝，在内容电商的投资和布局依然不弱于任何一家电商平台，淘宝并没有在内容电商败给其他电商平台。甚至可以这么说，淘宝电商直播比除抖音直播之外的所有电商直播都要做得好。</span></p><p><span><strong>淘宝，只是败给了时代</strong></span></p><p><span>正如那句名言：只有时代的马云，没有马云的时代。</span></p><p><strong><span>同样，也只有时代的淘宝，没有淘宝的时代。</span></strong></p><p><span>淘宝当初的崛起，恰恰是时代造就的产物，当初国内电商还是一片空白，淘宝凭借着对中国市场和商家更为熟悉，战胜了当时全球最大的电商网站<a href=\"https://laohu8.com/S/EBAY\">eBay</a>。</span></p><p><span>下沉市场的失利，只是因为淘宝不小心赶上了消费降级，拼多多的强势崛起同样也受益于消费降级这个大时代。谁也不曾预料到，今天的消费降级来得如此快，来得如此迅猛。</span></p><p><span>张勇当初对于中国经济未来的判断，一直都是消费升级，我相信马云先生当初也是如此判断的，谁也没想到消费降级这个意外来得如此快。</span></p><p><span>抖音、快手等内容电商平台的兴起，同样也是赶上了短视频直播这个风口。疫情三年，让越来越多人开始沉迷于短视频，痴迷于直播。抖音、快手天生因为内容对于用户的吸引，借助足够的用户时长，从而让越来越多用户在平台上逐步养成了消费习惯。</span></p><p><span>但是淘宝、京东、拼多多等电商平台，因为电商的基因，却很难通过培养用户的内容兴趣，再去吸引用户消费。电商平台的基因也注定了，它们的短视频和直播也基本都是围绕着电商。</span></p><p><span>短视频直播这个内容风口，就注定了抖音、快手、视频号的内容电商时代，这是谁也难以阻挡的电商趋势。</span></p><p><strong><span>所以，今天淘宝的落寞，只是败给了时代。至于下一个电商时代，谁能把握？我想谁也给不了答案。</span></strong></p><p><em><span>文/刘旷公众号，ID：liukuang110，配图来自Canva可画</span></em></p></div></body></html>","source":"weixin_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta 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left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n时代造就淘宝，淘宝败给时代\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1054650051\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/3ec32a8ed3664db2bd5c9d2fcf3bc685);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">刘旷 </p>\n<p class=\"h-time\">2024-06-27 08:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><div><p><img src=\"https://static.tigerbbs.com/0ec60f2c377846a3945cee99c97ed44f\"/></p><p><span>今天的淘宝，看山不是山，看水不是水，境遇已大不相同。</span></p><p><span><a href=\"https://laohu8.com/S/GS\">高盛</a>报告显示，淘宝天猫的市场份额从2019年的66%，下降至2022年的44%左右，四年降幅1/3。2024年淘宝的市场份额还剩多少，很难说清楚，但是这两年，<a href=\"https://laohu8.com/S/PDD\">拼多多</a>和抖音的势头是越来越猛了，还有视频号、小红书、快手等一众内容平台在抢夺电商这块蛋糕。</span></p><p><span><strong>有人将淘宝的落寞归因于管理者的失策</strong></span></p><p><span>张勇毫无疑问成为了最大的买单者，毕竟事情没做好，最终总是需要人来承担。但是真的只是张勇的管理失策吗？如果要论管理者失策，难道马云没有责任？蔡崇信没有责任？</span></p><p><span>成者王侯败者寇，这话确实不假，但是要把事情的责任全部都推到人的身上，并不完全合乎情理，更何况张勇并非无能之辈。</span></p><p><span>其一，张勇能做到<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>整个集团董事长兼CEO的位置，并非是靠运气得来的，而是靠着自己一路厮杀所展现出来的能力。他还是“双十一”这个伟大狂欢购物节的缔造者，帮助阿里巴巴成功的实现了从PC端到移动互联网的变迁。</span></p><p><span>其二，马云识人的本事，放眼整个互联网，有几人能说自己比马云厉害？既然当初决定把整个阿里巴巴集团都交给张勇来打理，马云也是经过足够的深思熟虑后才做的决定，同时也说明了马云对张勇能力的充分认可！</span></p><p><span>既然张勇并非无能之辈，又是有功之臣，那把淘宝的落寞归因于张勇的管理失策，又是否妥当呢？</span></p><p><span>很明显，不妥当。</span></p><p><span><strong>有人将淘宝的落寞归因于下沉市场的失败</strong></span></p><p><span>一直主打下沉市场的拼多多，这几年发展确实很猛，尤其是今天拼多多的市值已经超越阿里巴巴，这让很多人都说淘宝因为下沉市场的失利，所以输给了拼多多。</span></p><p><span>事实上并非如此。</span></p><p><span>淘宝很早就有布局下沉市场，甚至早于拼多多，10年前淘宝村也曾风靡一时。2014 年，阿里提出“千县万村”计划，要在3-5年间投资100亿元、建立1000个县级运营中心和10万个村级服务站。</span></p><p><span>可以说，淘宝对于下沉市场的重视和投入不弱于任何一个电商平台，包括拼多多和<a href=\"https://laohu8.com/S/JD\">京东</a>。</span></p><p><span>当初的淘宝，不论是下沉市场和农村市场的商家还是用户规模，淘宝也是强于其他任何一个电商平台。</span></p><p><span>然而，淘宝在下沉市场确实失利了，但要将淘宝落寞的核心原因归因于下沉市场的失败，同样也是站不住脚的。</span></p><p><img src=\"https://static.tigerbbs.com/2c448de5e6b646d6b1acd2c08257ac03\"/></p><p><span><strong>有人将淘宝的落寞归因于内容电商的失落</strong></span></p><p><span>抖音、快手、小红书借助内容电商崛起，确实对整个电商格局产生了非常大的影响，尤其是今天的抖音，已经成长为中国电商的第四极。</span></p><p><span>事实上，淘宝在短视频、直播等内容电商的布局和投入，同样不弱于任何一家电商平台和任何一家短视频直播平台。</span></p><p><span>早在2016年4月，时任阿里CEO的张勇就将社区化、内容化定为淘宝未来的方向。之后，淘宝上线了直播频道、淘宝头条、问大家和淘宝社区等一些列内容专区。与此同时，淘宝也开始全面打造短视频，开始打造自己的短视频APP。</span></p><p><span>在直播方面的布局，淘宝就更早了。而最早在电商直播做出成果的当属淘宝直播了，薇娅、李佳琦等一众头部主播都诞生于淘宝直播。此后，才有了抖音电商直播、快手电商直播对淘宝直播的效仿。</span></p><p><span>今天的淘宝，在内容电商的投资和布局依然不弱于任何一家电商平台，淘宝并没有在内容电商败给其他电商平台。甚至可以这么说，淘宝电商直播比除抖音直播之外的所有电商直播都要做得好。</span></p><p><span><strong>淘宝，只是败给了时代</strong></span></p><p><span>正如那句名言：只有时代的马云，没有马云的时代。</span></p><p><strong><span>同样，也只有时代的淘宝，没有淘宝的时代。</span></strong></p><p><span>淘宝当初的崛起，恰恰是时代造就的产物，当初国内电商还是一片空白，淘宝凭借着对中国市场和商家更为熟悉，战胜了当时全球最大的电商网站<a href=\"https://laohu8.com/S/EBAY\">eBay</a>。</span></p><p><span>下沉市场的失利，只是因为淘宝不小心赶上了消费降级，拼多多的强势崛起同样也受益于消费降级这个大时代。谁也不曾预料到，今天的消费降级来得如此快，来得如此迅猛。</span></p><p><span>张勇当初对于中国经济未来的判断，一直都是消费升级，我相信马云先生当初也是如此判断的，谁也没想到消费降级这个意外来得如此快。</span></p><p><span>抖音、快手等内容电商平台的兴起，同样也是赶上了短视频直播这个风口。疫情三年，让越来越多人开始沉迷于短视频，痴迷于直播。抖音、快手天生因为内容对于用户的吸引，借助足够的用户时长，从而让越来越多用户在平台上逐步养成了消费习惯。</span></p><p><span>但是淘宝、京东、拼多多等电商平台，因为电商的基因，却很难通过培养用户的内容兴趣，再去吸引用户消费。电商平台的基因也注定了，它们的短视频和直播也基本都是围绕着电商。</span></p><p><span>短视频直播这个内容风口，就注定了抖音、快手、视频号的内容电商时代，这是谁也难以阻挡的电商趋势。</span></p><p><strong><span>所以，今天淘宝的落寞，只是败给了时代。至于下一个电商时代，谁能把握？我想谁也给不了答案。</span></strong></p><p><em><span>文/刘旷公众号，ID：liukuang110，配图来自Canva可画</span></em></p></div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89988":"阿里巴巴-SWR","BK1575":"同股不同权","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","BK1501":"阿里概念股","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) 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ACC","BK1502":"双十一"},"source_url":"http://mp.weixin.qq.com/s?__biz=MzAxNTM3MTUxOA==&mid=2650861493&idx=1&sn=2f935947dbe7e96c960291ccfb62ad68&chksm=81130e5337f23462f36a2a5e42b268c65d49f5872c9eb062291f9beed26e214e1a87e93cb955&scene=0#rd","is_english":false,"share_image_url":"https://static.laohu8.com/ecd74548980bc5b366aa8f4b37ed0bd5","article_id":"2446378482","content_text":"今天的淘宝，看山不是山，看水不是水，境遇已大不相同。高盛报告显示，淘宝天猫的市场份额从2019年的66%，下降至2022年的44%左右，四年降幅1/3。2024年淘宝的市场份额还剩多少，很难说清楚，但是这两年，拼多多和抖音的势头是越来越猛了，还有视频号、小红书、快手等一众内容平台在抢夺电商这块蛋糕。有人将淘宝的落寞归因于管理者的失策张勇毫无疑问成为了最大的买单者，毕竟事情没做好，最终总是需要人来承担。但是真的只是张勇的管理失策吗？如果要论管理者失策，难道马云没有责任？蔡崇信没有责任？成者王侯败者寇，这话确实不假，但是要把事情的责任全部都推到人的身上，并不完全合乎情理，更何况张勇并非无能之辈。其一，张勇能做到阿里巴巴整个集团董事长兼CEO的位置，并非是靠运气得来的，而是靠着自己一路厮杀所展现出来的能力。他还是“双十一”这个伟大狂欢购物节的缔造者，帮助阿里巴巴成功的实现了从PC端到移动互联网的变迁。其二，马云识人的本事，放眼整个互联网，有几人能说自己比马云厉害？既然当初决定把整个阿里巴巴集团都交给张勇来打理，马云也是经过足够的深思熟虑后才做的决定，同时也说明了马云对张勇能力的充分认可！既然张勇并非无能之辈，又是有功之臣，那把淘宝的落寞归因于张勇的管理失策，又是否妥当呢？很明显，不妥当。有人将淘宝的落寞归因于下沉市场的失败一直主打下沉市场的拼多多，这几年发展确实很猛，尤其是今天拼多多的市值已经超越阿里巴巴，这让很多人都说淘宝因为下沉市场的失利，所以输给了拼多多。事实上并非如此。淘宝很早就有布局下沉市场，甚至早于拼多多，10年前淘宝村也曾风靡一时。2014 年，阿里提出“千县万村”计划，要在3-5年间投资100亿元、建立1000个县级运营中心和10万个村级服务站。可以说，淘宝对于下沉市场的重视和投入不弱于任何一个电商平台，包括拼多多和京东。当初的淘宝，不论是下沉市场和农村市场的商家还是用户规模，淘宝也是强于其他任何一个电商平台。然而，淘宝在下沉市场确实失利了，但要将淘宝落寞的核心原因归因于下沉市场的失败，同样也是站不住脚的。有人将淘宝的落寞归因于内容电商的失落抖音、快手、小红书借助内容电商崛起，确实对整个电商格局产生了非常大的影响，尤其是今天的抖音，已经成长为中国电商的第四极。事实上，淘宝在短视频、直播等内容电商的布局和投入，同样不弱于任何一家电商平台和任何一家短视频直播平台。早在2016年4月，时任阿里CEO的张勇就将社区化、内容化定为淘宝未来的方向。之后，淘宝上线了直播频道、淘宝头条、问大家和淘宝社区等一些列内容专区。与此同时，淘宝也开始全面打造短视频，开始打造自己的短视频APP。在直播方面的布局，淘宝就更早了。而最早在电商直播做出成果的当属淘宝直播了，薇娅、李佳琦等一众头部主播都诞生于淘宝直播。此后，才有了抖音电商直播、快手电商直播对淘宝直播的效仿。今天的淘宝，在内容电商的投资和布局依然不弱于任何一家电商平台，淘宝并没有在内容电商败给其他电商平台。甚至可以这么说，淘宝电商直播比除抖音直播之外的所有电商直播都要做得好。淘宝，只是败给了时代正如那句名言：只有时代的马云，没有马云的时代。同样，也只有时代的淘宝，没有淘宝的时代。淘宝当初的崛起，恰恰是时代造就的产物，当初国内电商还是一片空白，淘宝凭借着对中国市场和商家更为熟悉，战胜了当时全球最大的电商网站eBay。下沉市场的失利，只是因为淘宝不小心赶上了消费降级，拼多多的强势崛起同样也受益于消费降级这个大时代。谁也不曾预料到，今天的消费降级来得如此快，来得如此迅猛。张勇当初对于中国经济未来的判断，一直都是消费升级，我相信马云先生当初也是如此判断的，谁也没想到消费降级这个意外来得如此快。抖音、快手等内容电商平台的兴起，同样也是赶上了短视频直播这个风口。疫情三年，让越来越多人开始沉迷于短视频，痴迷于直播。抖音、快手天生因为内容对于用户的吸引，借助足够的用户时长，从而让越来越多用户在平台上逐步养成了消费习惯。但是淘宝、京东、拼多多等电商平台，因为电商的基因，却很难通过培养用户的内容兴趣，再去吸引用户消费。电商平台的基因也注定了，它们的短视频和直播也基本都是围绕着电商。短视频直播这个内容风口，就注定了抖音、快手、视频号的内容电商时代，这是谁也难以阻挡的电商趋势。所以，今天淘宝的落寞，只是败给了时代。至于下一个电商时代，谁能把握？我想谁也给不了答案。文/刘旷公众号，ID：liukuang110，配图来自Canva可画","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":311484365594856,"gmtCreate":1717072035087,"gmtModify":1717072037239,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"T86问题就这一没底线的公司搞出来的，一人错整个行业买单","listText":"T86问题就这一没底线的公司搞出来的，一人错整个行业买单","text":"T86问题就这一没底线的公司搞出来的，一人错整个行业买单","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/311484365594856","repostId":"2439966083","repostType":2,"repost":{"id":"2439966083","pubTimestamp":1717061712,"share":"https://www.laohu8.com/m/news/2439966083?lang=&edition=full","pubTime":"2024-05-30 17:35","market":"us","language":"zh","title":"拼多多在海外杀疯了","url":"https://stock-news.laohu8.com/highlight/detail?id=2439966083","media":"华尔街见闻","summary":"TEMU盈利在望.","content":"<html><head></head><body><blockquote><p>TEMU盈利在望</p></blockquote><p>九年前，没有人会相信，<a href=\"https://laohu8.com/S/PDD\">拼多多</a>这样一个以“低价”为标签的后来者，有朝一日能成为老大哥<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>的最大竞争对手。</p><p>然而，时代巨变、兴衰交替，业绩增长持续超预期，以及跨境电商业务TEMU带来的广阔市场潜力，让拼多多得到市场青睐，与阿里巴巴争夺起电商市值一哥的宝座。</p><p>拼多多希望借着TEMU，在海外“再造一个拼多多”。TEMU也在海外掀起腥风血雨，从全托管到半托管，TEMU给自己定下颇为激进的增长目标，要从“中国跨境电商四小龙”当中胜出，成为全球跨境电商当中的数一数二的存在。</p><p>今年一季度，以TEMU为主要驱动力的交易服务收入，首次赶超在线营销业务成为拼多多最大的收入来源。多家券商认为TEMU亏损已经大幅收窄，甚至接近盈亏平衡。</p><p>虽然跨境电商行业已经走过了最初的野蛮生长阶段，但竞争依然激烈。接下来，TEMU也会面临外部更多挑战。它需要走稳每一步，不断优化运营模式，才能复制拼多多国内后来居上的剧本。</p><p>这一路并不会太轻松。 </p><p><strong>激增</strong></p><p>国内电商行业增量见顶的情况下， TEMU是拼多多寻求新增长点的破局之道。它也是被外界视作可以再造一个拼多多的存在。 </p><p>在2022年9月，TEMU像鲶鱼一样冲进跨境电商这片蓝海，依靠低价策略和首创的“全托管模式”，火速在2023年扩张到全球 48个国家和地区，跻身全球应用下载量前十名，更成为美国下载量最高的应用之一。</p><p>今年以来，TEMU继续火力全开，进入了更多国家和地区。据华尔街见闻统计，截至目前，TEMU已开设约68个站点, 实现了覆盖所有大洲，其中欧洲站点数量最多，体量上则是美国市场最大。</p><p>拼多多最新发布财报显示，其一季度营收同比增长131%至868.1亿元，其中TEMU为主要驱动力的交易服务收入大幅增长327%至443.6亿美元，首次赶超在线营销业务成为拼多多最大的收入来源。</p><p>去年以来，TEMU快速扩张的主要因素之一，就是因为其放弃了拼多多在国内使用的平台模式，转向全托管模式。该模式极大降低了跨境商家的出海门槛，由平台提供店铺运营、仓储物流、售后服务等一站式服务，卖家只充当着“供货商”的角色。</p><p>“全托管”让TEMU取得了第一阶段的胜利，也让全托管成为了各大跨境电商平台的“标配”。</p><p>在TEMU带来的高增长前景下，一季度财报发布后，拼多多美股盘前涨幅一度超13%，报158.46美元/股。截至5月30日，拼多多市值也再度超越阿里巴巴。</p><p>一直到现在，拼多多官方都未对外公开披露过TEMU的具体GMV，但拼多多野心不小。 </p><p><a href=\"https://laohu8.com/S/002736\">国信证券</a>测算，TEMU一季度GMV超过130亿美元，按58%计入收入，贡献约353亿人民币收入。从今年全年的GMV来看，浦银国际预计TEMU全年GMV或超400亿美元，<a href=\"https://laohu8.com/S/03329\">交银国际</a>则预测将增长200%以上达到500亿美元。</p><p>有多位消息人士透露，TEMU自身还有一个更激进的GMV目标，那就是高达600亿美元，这一数字是去年约180亿美元年销售额的3.33倍。</p><p>另据Sensortower数据,截至2024年4月，TEMU MAU到1.9亿人，已经超过了SHEIN的1.7亿人。</p><p>随着规模的进一步扩大，以及半托管模式在今年初上线，让TEMU盈利在望。</p><p>浦银国际研报指出，TEMU高速增长，预计2025年扭亏，全年交易服务收入将同比增长357%，测算其中约8成来自TEMU业务。交银国际则预测，TEMU今年有望在美国，率先实现盈利。 </p><p><strong>战火</strong></p><p>跨境电商市场的战火又燃起来了。去年TEMU带头推出全托管，快速搅动着这片市场，如今，它又很快地跟进友商的动作，推出半托管模式。</p><p>以启动“半托管”为标志，TEMU希望在规模上更进一步。</p><p>接近TEMU人士告诉华尔街见闻，这是为了更好地适应商家的成长变化，给予商家更多的灵活性和主动性，产品类目涵盖服装首饰、家具家居、美妆个护、户外运动、工业设备等。</p><p>“半托管”今年已成为各大跨境电商平台的新战场，不过，此番率先打响半托管发令枪的不再是TEMU，而是去年相对低调的老大哥速卖通。</p><p>紧跟速卖通之后，TEMU在今年元旦之后开启半托管商家招募，到3月中旬在美国正式上线，短短两个月，已经开通了美国、加拿大、英国、德国、意大利、法国、西班牙、澳大利亚、新西兰等9大站点。据悉，全球站点正在加速开放中。</p><p>TEMU半托管和全托管模式的区别主要体现在仓储物流上，针对其他繁琐环节的平台服务，例如网站引流、店铺运营、客户服务、知产法务等，目前并没有区别。半托管模式更适合在跨境电商领域发展相对成熟、拥有自己的仓库物流合作商的跨境商家。</p><p>据华尔街见闻了解，与TEMU还掌控着店铺运营、商品定价不同，速卖通的半托管模式，是平台只负责仓储物流、售后服务环节，店铺运营和定价则由商家自己负责。</p><p>接近TEMU人士透露，半托管模式可以让TEMU在保持质价比的同时实现更快的速度。而未来，如果商家的自身能力越来越强，TEMU或许将给予商家更大的空间与自由。</p><p>另有业内人士对华尔街见闻指出，2024，“半托管”或将弯道超车，成为跨境玩家们竞争的关键所在。</p><p>对于TEMU加入“半托管”,资本市场也普遍是看好的态度。</p><p>多家券商机构指出，TMEU半托管可以带动大货占比提升，从而提升客单价，叠加降低单均物流费用，能够在提高用户体验的同时，优化其单位经济模型，从而提高盈利能力和市场竞争力，有望带动TEMU业务整体亏损显著改善，并较早实现盈利上岸。 </p><p>不过，如今TEMU的收益主要来自终端销售价与商家结算之间的差价。为了吸引商家，目前无论是半托管还是全托管，TMUE均不收取佣金。 </p><p>与此同时，走过野蛮生长的第一阶段，TEMU也需要更重视提升用户体验，在售价上还不能有大调整的同时，要更重视通过提供更高效的物流服务和更优质的商品，来提升用户满意度和忠诚度。</p><p>显然，在跨境电商业务上，TEMU把拼多多在国内攻城略地的那一套玩法又如法炮制了一番。 </p><p>不过跨境电商战场战况愈发激烈，TEMU要在新的市场做大并不容易。</p><p>壹玖钧泽网络科技有限公司总经理高燕对华尔街见闻表示，今年以来，作为跨境商家，其最深的感受就是中国跨境电商平台间的竞争将呈现多元化和激烈化的特点，包括专业度、产品力、品牌力和创新力的综合比拼。</p><p>在此背景下，各大跨境电商平台在保持其既有优势和基因的的同时，应更加注重差异化竞争优势的建立，提升用户体验，加强技术创新。</p><p>此外，Tiktok在美国的境遇也警示着TEMU，它需要预防海外市场的政策风险。一季度以来，TEMU加速在中东、欧洲、拉美等地区的业务拓展，以降低美国地区占比过高的潜在政策风险。</p><p>拼多多能够在国内快速崛起，是天时、地利、人和共同作用之下的结果，如今其出海似乎又再一次占据了这些有利因素，但这一战场更加复杂。</p><p>要成为中国跨境电商中的赢家，甚至改写全球电商格局，拼多多任重而道远。</p></body></html>","source":"wallstreetcn_hot_news","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n拼多多在海外杀疯了\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-30 17:35 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3716117><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TEMU盈利在望九年前，没有人会相信，拼多多这样一个以“低价”为标签的后来者，有朝一日能成为老大哥阿里巴巴的最大竞争对手。然而，时代巨变、兴衰交替，业绩增长持续超预期，以及跨境电商业务TEMU带来的广阔市场潜力，让拼多多得到市场青睐，与阿里巴巴争夺起电商市值一哥的宝座。拼多多希望借着TEMU，在海外“再造一个拼多多”。TEMU也在海外掀起腥风血雨，从全托管到半托管，TEMU给自己定下颇为激进的增长...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3716117\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba4d763daca18f6fd7e6deb2082f40d4","relate_stocks":{"LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU0823426308.USD":"法巴中国股票基金","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) 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INC","LU1720050803.USD":"安联全方位中国股票基金","BK4122":"互联网与直销零售","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC"},"source_url":"https://wallstreetcn.com/articles/3716117","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2439966083","content_text":"TEMU盈利在望九年前，没有人会相信，拼多多这样一个以“低价”为标签的后来者，有朝一日能成为老大哥阿里巴巴的最大竞争对手。然而，时代巨变、兴衰交替，业绩增长持续超预期，以及跨境电商业务TEMU带来的广阔市场潜力，让拼多多得到市场青睐，与阿里巴巴争夺起电商市值一哥的宝座。拼多多希望借着TEMU，在海外“再造一个拼多多”。TEMU也在海外掀起腥风血雨，从全托管到半托管，TEMU给自己定下颇为激进的增长目标，要从“中国跨境电商四小龙”当中胜出，成为全球跨境电商当中的数一数二的存在。今年一季度，以TEMU为主要驱动力的交易服务收入，首次赶超在线营销业务成为拼多多最大的收入来源。多家券商认为TEMU亏损已经大幅收窄，甚至接近盈亏平衡。虽然跨境电商行业已经走过了最初的野蛮生长阶段，但竞争依然激烈。接下来，TEMU也会面临外部更多挑战。它需要走稳每一步，不断优化运营模式，才能复制拼多多国内后来居上的剧本。这一路并不会太轻松。 激增国内电商行业增量见顶的情况下， TEMU是拼多多寻求新增长点的破局之道。它也是被外界视作可以再造一个拼多多的存在。 在2022年9月，TEMU像鲶鱼一样冲进跨境电商这片蓝海，依靠低价策略和首创的“全托管模式”，火速在2023年扩张到全球 48个国家和地区，跻身全球应用下载量前十名，更成为美国下载量最高的应用之一。今年以来，TEMU继续火力全开，进入了更多国家和地区。据华尔街见闻统计，截至目前，TEMU已开设约68个站点, 实现了覆盖所有大洲，其中欧洲站点数量最多，体量上则是美国市场最大。拼多多最新发布财报显示，其一季度营收同比增长131%至868.1亿元，其中TEMU为主要驱动力的交易服务收入大幅增长327%至443.6亿美元，首次赶超在线营销业务成为拼多多最大的收入来源。去年以来，TEMU快速扩张的主要因素之一，就是因为其放弃了拼多多在国内使用的平台模式，转向全托管模式。该模式极大降低了跨境商家的出海门槛，由平台提供店铺运营、仓储物流、售后服务等一站式服务，卖家只充当着“供货商”的角色。“全托管”让TEMU取得了第一阶段的胜利，也让全托管成为了各大跨境电商平台的“标配”。在TEMU带来的高增长前景下，一季度财报发布后，拼多多美股盘前涨幅一度超13%，报158.46美元/股。截至5月30日，拼多多市值也再度超越阿里巴巴。一直到现在，拼多多官方都未对外公开披露过TEMU的具体GMV，但拼多多野心不小。 国信证券测算，TEMU一季度GMV超过130亿美元，按58%计入收入，贡献约353亿人民币收入。从今年全年的GMV来看，浦银国际预计TEMU全年GMV或超400亿美元，交银国际则预测将增长200%以上达到500亿美元。有多位消息人士透露，TEMU自身还有一个更激进的GMV目标，那就是高达600亿美元，这一数字是去年约180亿美元年销售额的3.33倍。另据Sensortower数据,截至2024年4月，TEMU MAU到1.9亿人，已经超过了SHEIN的1.7亿人。随着规模的进一步扩大，以及半托管模式在今年初上线，让TEMU盈利在望。浦银国际研报指出，TEMU高速增长，预计2025年扭亏，全年交易服务收入将同比增长357%，测算其中约8成来自TEMU业务。交银国际则预测，TEMU今年有望在美国，率先实现盈利。 战火跨境电商市场的战火又燃起来了。去年TEMU带头推出全托管，快速搅动着这片市场，如今，它又很快地跟进友商的动作，推出半托管模式。以启动“半托管”为标志，TEMU希望在规模上更进一步。接近TEMU人士告诉华尔街见闻，这是为了更好地适应商家的成长变化，给予商家更多的灵活性和主动性，产品类目涵盖服装首饰、家具家居、美妆个护、户外运动、工业设备等。“半托管”今年已成为各大跨境电商平台的新战场，不过，此番率先打响半托管发令枪的不再是TEMU，而是去年相对低调的老大哥速卖通。紧跟速卖通之后，TEMU在今年元旦之后开启半托管商家招募，到3月中旬在美国正式上线，短短两个月，已经开通了美国、加拿大、英国、德国、意大利、法国、西班牙、澳大利亚、新西兰等9大站点。据悉，全球站点正在加速开放中。TEMU半托管和全托管模式的区别主要体现在仓储物流上，针对其他繁琐环节的平台服务，例如网站引流、店铺运营、客户服务、知产法务等，目前并没有区别。半托管模式更适合在跨境电商领域发展相对成熟、拥有自己的仓库物流合作商的跨境商家。据华尔街见闻了解，与TEMU还掌控着店铺运营、商品定价不同，速卖通的半托管模式，是平台只负责仓储物流、售后服务环节，店铺运营和定价则由商家自己负责。接近TEMU人士透露，半托管模式可以让TEMU在保持质价比的同时实现更快的速度。而未来，如果商家的自身能力越来越强，TEMU或许将给予商家更大的空间与自由。另有业内人士对华尔街见闻指出，2024，“半托管”或将弯道超车，成为跨境玩家们竞争的关键所在。对于TEMU加入“半托管”,资本市场也普遍是看好的态度。多家券商机构指出，TMEU半托管可以带动大货占比提升，从而提升客单价，叠加降低单均物流费用，能够在提高用户体验的同时，优化其单位经济模型，从而提高盈利能力和市场竞争力，有望带动TEMU业务整体亏损显著改善，并较早实现盈利上岸。 不过，如今TEMU的收益主要来自终端销售价与商家结算之间的差价。为了吸引商家，目前无论是半托管还是全托管，TMUE均不收取佣金。 与此同时，走过野蛮生长的第一阶段，TEMU也需要更重视提升用户体验，在售价上还不能有大调整的同时，要更重视通过提供更高效的物流服务和更优质的商品，来提升用户满意度和忠诚度。显然，在跨境电商业务上，TEMU把拼多多在国内攻城略地的那一套玩法又如法炮制了一番。 不过跨境电商战场战况愈发激烈，TEMU要在新的市场做大并不容易。壹玖钧泽网络科技有限公司总经理高燕对华尔街见闻表示，今年以来，作为跨境商家，其最深的感受就是中国跨境电商平台间的竞争将呈现多元化和激烈化的特点，包括专业度、产品力、品牌力和创新力的综合比拼。在此背景下，各大跨境电商平台在保持其既有优势和基因的的同时，应更加注重差异化竞争优势的建立，提升用户体验，加强技术创新。此外，Tiktok在美国的境遇也警示着TEMU，它需要预防海外市场的政策风险。一季度以来，TEMU加速在中东、欧洲、拉美等地区的业务拓展，以降低美国地区占比过高的潜在政策风险。拼多多能够在国内快速崛起，是天时、地利、人和共同作用之下的结果，如今其出海似乎又再一次占据了这些有利因素，但这一战场更加复杂。要成为中国跨境电商中的赢家，甚至改写全球电商格局，拼多多任重而道远。","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":308302926405944,"gmtCreate":1716291111417,"gmtModify":1716291113290,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"国人的公司真的很多坑","listText":"国人的公司真的很多坑","text":"国人的公司真的很多坑","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/308302926405944","repostId":"2437495789","repostType":2,"repost":{"id":"2437495789","weMediaInfo":{"introduction":"Share your news with media, investors, and consumers with targeted distribution options from one of the world’s largest and most trusted newswires.","home_visible":1,"media_name":"GlobeNewswire","id":"1016364462","head_image":"https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a"},"pubTimestamp":1716280778,"share":"https://www.laohu8.com/m/news/2437495789?lang=&edition=full","pubTime":"2024-05-21 16:39","market":"hk","language":"en","title":"JD.com Drops 5% After the Company Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes","url":"https://stock-news.laohu8.com/highlight/detail?id=2437495789","media":"GlobeNewswire","summary":"BEIJING, May  21, 2024  (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service ","content":"<html><head></head><body><p>JD.com stock dropped 5% in premarket trading after the company announces proposed offering of US$1.5 billion convertible senior notes.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/64a800228a11cef45f2243f80c55bc1b\" tg-width=\"469\" tg-height=\"419\"/></p><p>BEIJING, May 21, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$1.5 billion due 2029 (the “Notes”), subject to market conditions and other factors. The Company intends to grant an option to the initial purchasers in the Notes Offering, exercisable within a 30-day period, beginning on and including the date of the Notes Offering, to purchase up to an additional US$225 million in aggregate principal amount of the Notes.<br/></p><p>The Company plans to use the net proceeds from the Notes Offering (a) for the Concurrent Repurchase (as described below) and to repurchase on the open market, after the pricing of the Notes and from time to time, additional Class A ordinary shares and/or American depositary shares (“ADSs”), each representing two Class A ordinary shares, of the Company pursuant to its share repurchase program(s), (b) to expand its overseas business, (c) to further improve its supply chain network and (d) for working capital needs.</p><p><strong>Expected Terms of the Notes</strong></p><p>When issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2029, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.</p><p>Holders of the Notes may convert their Notes at their option at any time prior to the close of business on the third scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver, as the case may be, cash, ADSs, or a combination of cash and ADSs, at the Company’s election. Holders may elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, which will be fungible with the Company’s Class A ordinary shares listed on the Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) after the resale restriction termination date (as set forth in the terms of the Notes). The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.</p><p>Holders of the Notes may require the Company to repurchase all or part of their Notes for cash on June 1, 2027 or in the event of certain fundamental changes, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after June 8, 2027, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws or if less than 10% of the aggregate principal amount of the Notes originally issued remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.</p><p><strong>Concurrent and Future Repurchases</strong></p><p>Concurrently with the pricing of the Notes, the Company plans to repurchase a number of its Class A ordinary shares and/or ADSs to be determined at the time of pricing of the Notes from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent (such transactions, the “Concurrent Repurchase”). The Concurrent Repurchase is expected to facilitate the initial hedging by purchasers of the Notes who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire initial delta of the transaction. This will allow such purchasers of the Notes to establish short positions that generally correspond to commercially reasonable initial hedges of their investments in the Notes. The Concurrent Repurchase will be made pursuant to the Company’s share repurchase program announced in March 2024. The Company expects the purchase price in the Concurrent Repurchase to be (i) in the case of ADSs, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024 as adjusted for the ADS-to-share ratio at a pre-determined exchange rate for U.S. dollars and (ii) in the case of Class A ordinary shares, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024.</p><p>In addition to the Concurrent Repurchase, the Company may also repurchase additional Class A ordinary shares and/or ADSs on the open market after the pricing of the Notes and from time to time. The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program(s) will be funded by the net proceeds of the Notes Offering and other cash on hand, and, in the aggregate, are generally expected to offset potential dilution to the holders of the Company’s ordinary shares (including in the form of ADSs) upon conversion of the Notes.</p><p><strong>Other Matters</strong></p><p>The repurchase activities by the Company, whether in the Concurrent Repurchase or otherwise pursuant to its share repurchase program(s), could increase, or reduce the magnitude of any decrease in, the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes.</p><p>The Company expects that potential purchasers of the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential purchasers of the Notes following the pricing of the Notes and prior to the maturity date could affect the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.</p><p>The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.</p><p>This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.</p><p>This press release contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.</p><p><strong>About JD.com, Inc.</strong></p><p>JD.com is a leading supply chain-based technology and service provider. The company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.</p><p><strong>Safe Harbor Statement</strong></p><p>This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; laws, regulations and governmental policies relating to the industries in which JD.com or its business partners operate; potential changes in laws, regulations and governmental policies or changes in the interpretation and implementation of laws, regulations and governmental policies that could adversely affect the industries in which JD.com or its business partners operate, including, among others, initiatives to enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security; risks associated with JD.com’s acquisitions, investments and alliances, including fluctuation in the market value of JD.com’s investment portfolio; natural disasters and geopolitical events; change in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and globally. Further information regarding these and other risks is included in JD.com’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided herein is as of the date of this announcement, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c2196de8ba412c60c22ab491af7b1409\" title=\"\" tg-width=\"1\" tg-height=\"1\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JD.com Drops 5% After the Company Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJD.com Drops 5% After the Company Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1016364462\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">GlobeNewswire </p>\n<p class=\"h-time\">2024-05-21 16:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>JD.com stock dropped 5% in premarket trading after the company announces proposed offering of US$1.5 billion convertible senior notes.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/64a800228a11cef45f2243f80c55bc1b\" tg-width=\"469\" tg-height=\"419\"/></p><p>BEIJING, May 21, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$1.5 billion due 2029 (the “Notes”), subject to market conditions and other factors. The Company intends to grant an option to the initial purchasers in the Notes Offering, exercisable within a 30-day period, beginning on and including the date of the Notes Offering, to purchase up to an additional US$225 million in aggregate principal amount of the Notes.<br/></p><p>The Company plans to use the net proceeds from the Notes Offering (a) for the Concurrent Repurchase (as described below) and to repurchase on the open market, after the pricing of the Notes and from time to time, additional Class A ordinary shares and/or American depositary shares (“ADSs”), each representing two Class A ordinary shares, of the Company pursuant to its share repurchase program(s), (b) to expand its overseas business, (c) to further improve its supply chain network and (d) for working capital needs.</p><p><strong>Expected Terms of the Notes</strong></p><p>When issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2029, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.</p><p>Holders of the Notes may convert their Notes at their option at any time prior to the close of business on the third scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver, as the case may be, cash, ADSs, or a combination of cash and ADSs, at the Company’s election. Holders may elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, which will be fungible with the Company’s Class A ordinary shares listed on the Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) after the resale restriction termination date (as set forth in the terms of the Notes). The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.</p><p>Holders of the Notes may require the Company to repurchase all or part of their Notes for cash on June 1, 2027 or in the event of certain fundamental changes, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after June 8, 2027, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws or if less than 10% of the aggregate principal amount of the Notes originally issued remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.</p><p><strong>Concurrent and Future Repurchases</strong></p><p>Concurrently with the pricing of the Notes, the Company plans to repurchase a number of its Class A ordinary shares and/or ADSs to be determined at the time of pricing of the Notes from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent (such transactions, the “Concurrent Repurchase”). The Concurrent Repurchase is expected to facilitate the initial hedging by purchasers of the Notes who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire initial delta of the transaction. This will allow such purchasers of the Notes to establish short positions that generally correspond to commercially reasonable initial hedges of their investments in the Notes. The Concurrent Repurchase will be made pursuant to the Company’s share repurchase program announced in March 2024. The Company expects the purchase price in the Concurrent Repurchase to be (i) in the case of ADSs, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024 as adjusted for the ADS-to-share ratio at a pre-determined exchange rate for U.S. dollars and (ii) in the case of Class A ordinary shares, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024.</p><p>In addition to the Concurrent Repurchase, the Company may also repurchase additional Class A ordinary shares and/or ADSs on the open market after the pricing of the Notes and from time to time. The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program(s) will be funded by the net proceeds of the Notes Offering and other cash on hand, and, in the aggregate, are generally expected to offset potential dilution to the holders of the Company’s ordinary shares (including in the form of ADSs) upon conversion of the Notes.</p><p><strong>Other Matters</strong></p><p>The repurchase activities by the Company, whether in the Concurrent Repurchase or otherwise pursuant to its share repurchase program(s), could increase, or reduce the magnitude of any decrease in, the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes.</p><p>The Company expects that potential purchasers of the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential purchasers of the Notes following the pricing of the Notes and prior to the maturity date could affect the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.</p><p>The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.</p><p>This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.</p><p>This press release contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.</p><p><strong>About JD.com, Inc.</strong></p><p>JD.com is a leading supply chain-based technology and service provider. The company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.</p><p><strong>Safe Harbor Statement</strong></p><p>This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; laws, regulations and governmental policies relating to the industries in which JD.com or its business partners operate; potential changes in laws, regulations and governmental policies or changes in the interpretation and implementation of laws, regulations and governmental policies that could adversely affect the industries in which JD.com or its business partners operate, including, among others, initiatives to enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security; risks associated with JD.com’s acquisitions, investments and alliances, including fluctuation in the market value of JD.com’s investment portfolio; natural disasters and geopolitical events; change in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and globally. Further information regarding these and other risks is included in JD.com’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided herein is as of the date of this announcement, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c2196de8ba412c60c22ab491af7b1409\" title=\"\" tg-width=\"1\" tg-height=\"1\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89618":"京东集团-SWR","IE0008368742.USD":"首域中国增长基金I Acc","SG9999002463.SGD":"LionGlobal China Growth SGD","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","BK1591":"就地过年概念","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","BK1502":"双十一","LU0051755006.USD":"摩根大通中国A (dist)","LU0594300419.USD":"富达中国消费基金A","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU1044876610.USD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"ZU\" (USD) ACC","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","BK4585":"ETF&股票定投概念","LU0456842615.SGD":"JPMorgan Funds - Emerging Markets Equity A (acc) SGD","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0052750758.USD":"富兰克林中国基金A Acc","BK4558":"双十一","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","BK4509":"腾讯概念","BK1588":"回港中概股","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0359201612.USD":"贝莱德中国基金A2","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1044875133.USD":"天利亚洲反向股票 AU Acc","BK1249":"综合零售","BK4579":"人工智能","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","BK4588":"碎股","09618":"京东集团-SW","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","LU0048580855.USD":"富达大中华区A","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","BK4551":"寇图资本持仓","JD":"京东","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC"},"source_url":"https://www.globenewswire.com/news-release/2024/05/21/2885338/0/en/JD-com-Announces-Proposed-Offering-of-US-1-5-Billion-Convertible-Senior-Notes.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2437495789","content_text":"JD.com stock dropped 5% in premarket trading after the company announces proposed offering of US$1.5 billion convertible senior notes.BEIJING, May 21, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$1.5 billion due 2029 (the “Notes”), subject to market conditions and other factors. The Company intends to grant an option to the initial purchasers in the Notes Offering, exercisable within a 30-day period, beginning on and including the date of the Notes Offering, to purchase up to an additional US$225 million in aggregate principal amount of the Notes.The Company plans to use the net proceeds from the Notes Offering (a) for the Concurrent Repurchase (as described below) and to repurchase on the open market, after the pricing of the Notes and from time to time, additional Class A ordinary shares and/or American depositary shares (“ADSs”), each representing two Class A ordinary shares, of the Company pursuant to its share repurchase program(s), (b) to expand its overseas business, (c) to further improve its supply chain network and (d) for working capital needs.Expected Terms of the NotesWhen issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2029, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.Holders of the Notes may convert their Notes at their option at any time prior to the close of business on the third scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver, as the case may be, cash, ADSs, or a combination of cash and ADSs, at the Company’s election. Holders may elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, which will be fungible with the Company’s Class A ordinary shares listed on the Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) after the resale restriction termination date (as set forth in the terms of the Notes). The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.Holders of the Notes may require the Company to repurchase all or part of their Notes for cash on June 1, 2027 or in the event of certain fundamental changes, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after June 8, 2027, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws or if less than 10% of the aggregate principal amount of the Notes originally issued remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.Concurrent and Future RepurchasesConcurrently with the pricing of the Notes, the Company plans to repurchase a number of its Class A ordinary shares and/or ADSs to be determined at the time of pricing of the Notes from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent (such transactions, the “Concurrent Repurchase”). The Concurrent Repurchase is expected to facilitate the initial hedging by purchasers of the Notes who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire initial delta of the transaction. This will allow such purchasers of the Notes to establish short positions that generally correspond to commercially reasonable initial hedges of their investments in the Notes. The Concurrent Repurchase will be made pursuant to the Company’s share repurchase program announced in March 2024. The Company expects the purchase price in the Concurrent Repurchase to be (i) in the case of ADSs, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024 as adjusted for the ADS-to-share ratio at a pre-determined exchange rate for U.S. dollars and (ii) in the case of Class A ordinary shares, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024.In addition to the Concurrent Repurchase, the Company may also repurchase additional Class A ordinary shares and/or ADSs on the open market after the pricing of the Notes and from time to time. The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program(s) will be funded by the net proceeds of the Notes Offering and other cash on hand, and, in the aggregate, are generally expected to offset potential dilution to the holders of the Company’s ordinary shares (including in the form of ADSs) upon conversion of the Notes.Other MattersThe repurchase activities by the Company, whether in the Concurrent Repurchase or otherwise pursuant to its share repurchase program(s), could increase, or reduce the magnitude of any decrease in, the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes.The Company expects that potential purchasers of the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential purchasers of the Notes following the pricing of the Notes and prior to the maturity date could affect the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.This press release contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.About JD.com, Inc.JD.com is a leading supply chain-based technology and service provider. The company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; laws, regulations and governmental policies relating to the industries in which JD.com or its business partners operate; potential changes in laws, regulations and governmental policies or changes in the interpretation and implementation of laws, regulations and governmental policies that could adversely affect the industries in which JD.com or its business partners operate, including, among others, initiatives to enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security; risks associated with JD.com’s acquisitions, investments and alliances, including fluctuation in the market value of JD.com’s investment portfolio; natural disasters and geopolitical events; change in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and globally. Further information regarding these and other risks is included in JD.com’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided herein is as of the date of this announcement, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.","news_type":1},"isVote":1,"tweetType":1,"viewCount":224,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3437340877473194","authorId":"3437340877473194","name":"Cjfsky201610","avatar":"https://static.tigerbbs.com/990f83875eb3fd831df53d5601c8bd7c","crmLevel":6,"crmLevelSwitch":0},"content":"为什么这么说？怎么分析","text":"为什么这么说？怎么分析","html":"为什么这么说？怎么分析"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":308183899037992,"gmtCreate":1716262051136,"gmtModify":1716262052867,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"都不打个正眼看","listText":"都不打个正眼看","text":"都不打个正眼看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/308183899037992","repostId":"2436129423","repostType":2,"repost":{"id":"2436129423","pubTimestamp":1716192360,"share":"https://www.laohu8.com/m/news/2436129423?lang=&edition=full","pubTime":"2024-05-20 16:06","market":"us","language":"zh","title":"字节大模型大降价，百度、阿里能否抗住？","url":"https://stock-news.laohu8.com/highlight/detail?id=2436129423","media":"澎湃新闻","summary":"一年前，字节跳动就完成了自主研发大模型，豆包大模型原名云雀，是国内首批通过算法备案的大模型之一，在内部亲切的称呼它为豆包。打响价格战如何快速抢占国内市场，谭待在发布会首次对外阐述了字节跳动在大模型的战略布局。在此次发布会，字节跳动还发布新一代AI应用搭建平台扣子，连接大模型和用户场景的扣子，无论用户是否有编程基础，都可以在扣子上快速搭建基于大模型的各类Bot，并","content":"<div>\n<p>作者|谢涵编辑|陈秋运营|陈小妍另镜(ID:DMS-012)去年3月在OpenAI推出GPT-4一天后，国内众多头部企业华为、百度、阿里、腾讯、科大讯飞、商汤等科技企业纷纷快速布局AI大模型赛道，而备受外界期待的字节跳动AI大模型业务却迟迟未向外界公布具体战略。时隔一年多，字节跳动终于对外宣布，5月15日上午，字节跳动旗下云服务平台火山引擎在北京举办了声势浩大的发布会，火山引擎总裁谭待在发布会上...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b\">Web Link</a>\n\n</div>\n","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta 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float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n字节大模型大降价，百度、阿里能否抗住？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-20 16:06 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b><strong>澎湃新闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者|谢涵编辑|陈秋运营|陈小妍另镜(ID:DMS-012)去年3月在OpenAI推出GPT-4一天后，国内众多头部企业华为、百度、阿里、腾讯、科大讯飞、商汤等科技企业纷纷快速布局AI大模型赛道，而备受外界期待的字节跳动AI大模型业务却迟迟未向外界公布具体战略。时隔一年多，字节跳动终于对外宣布，5月15日上午，字节跳动旗下云服务平台火山引擎在北京举办了声势浩大的发布会，火山引擎总裁谭待在发布会上...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89888":"百度集团-SWR","89988":"阿里巴巴-SWR","BABA":"阿里巴巴","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","09988":"阿里巴巴-SW","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS 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SGD"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2436129423","content_text":"作者|谢涵编辑|陈秋运营|陈小妍另镜(ID:DMS-012)去年3月在OpenAI推出GPT-4一天后，国内众多头部企业华为、百度、阿里、腾讯、科大讯飞、商汤等科技企业纷纷快速布局AI大模型赛道，而备受外界期待的字节跳动AI大模型业务却迟迟未向外界公布具体战略。时隔一年多，字节跳动终于对外宣布，5月15日上午，字节跳动旗下云服务平台火山引擎在北京举办了声势浩大的发布会，火山引擎总裁谭待在发布会上正式宣布，字节跳动自研豆包大模型对外提供服务。据火山引擎总裁谭待介绍，经过一年时间的迭代和市场验证，豆包大模型正成为国内使用量最大、应用场景最丰富的大模型之一，目前日均处理1200亿Tokens文本，生成3000万张图片。根据在发布会披露数据，豆包用户规模在快速增长，月活用户数已达2600万，被创建智能体达800多万个。在定价方面，对比国内外目前最新的32K主力模型，GPT4价格约为0.42元/千Tokens，百度文心一言和阿里最新的通义千问2.5价格均接近0.12元/千Tokens，而豆包通用模型pro-32k版模型推理输入价格仅为0.0008元/千Tokens，比行业低99.3%。在长文本方面，目前阿里和百度还没有跟进长文本128k，GPT4-Turbo价格约为7分钱/千Tokens，豆包通用模型Pro-128K模型定价为0.005元/千Tokens，比行业低95.8%。这是什么概念？《三国演义》很多人都读过，一共有75万字，根据火山引擎公布的价格计算，一元钱就能买到豆包主力模型的125万Tokens，大约是200万个汉字，意味着只需要1块钱就能处理3本《三国演义》的文字量。谈及低价策略，在发布会当天下午的群访中，火山引擎总裁谭待向另镜等媒体解释，“我们做这个定价，是我们对技术还是有信心的，这是最关键的，而不是我们拿亏损来做这件事情，亏损是接受不了的。”我们在技术上有优化成本的手段，比如分布式推理、混合调度等，未来能持续以此价格服务行业，亏损换收入不可持续，我们不会这么做。能力最强的主力模型定价都比行业低，简单来说，是因为我们能做，也需要这么做。做应用一定要生态繁荣，市场面临非常多的不确定性，试错成本要降得非常低，才能够让大家广泛地用起来，不管是大的企业还是说开发的个人，都能用起来，所以市场的呼声就是说我们需要更低成本的核心。谭待称，随着大模型技术的不断发展，企业与开发者都在积极投身大模型，各类场景蓄势待发。今年大模型能力提升，应用是很重要的环节，我们判断，在未来一年，大模型将在越来越多的企业场景从POC阶段走到真实的生产系统。一年前，字节跳动就完成了自主研发大模型，豆包大模型原名云雀，是国内首批通过算法备案的大模型之一，在内部亲切的称呼它为豆包。在过去一年里，字节内部50多个业务已经大量使用豆包进行AI创新，包括抖音、头条、番茄小说等多个产品。同时火山引擎也以邀测的方式，和不同行业的头部客户对基于豆包大模型进行深度共创，包括手机、汽车、金融、消费、互娱等等领域。打响价格战如何快速抢占国内市场，谭待在发布会首次对外阐述了字节跳动在大模型的战略布局。一是，此次节跳动自研豆包大模型，提供的是一个有多模态能力的模型家族，目前主要包括通用模型pro、通用模型lite、语音识别模型、语音合成模型、文生图模型等九款模型。其中通用大模型支持128k长文本，也包含轻量级大模型以及当下非常火的文生图等垂类大模型。由此可见，虽然对外宣布比较晚，但低价策略和矩阵打法足以撼动行业格局。二是，在市场定位方面，字节跳动抛出一张王炸牌，那就是卷起行业价格战，价格定位方面不只比国外GPT4价格低很多，比百度文心一言和阿里通义千问都低很多。“大的使用量，才能打磨出好模型，也能大幅降低模型推理的单位成本。豆包主力模型在企业市场的定价只有0.0008元/千Tokens，0.8厘就能处理1500多个汉字，比行业便宜99.3%，”谭待表示，大模型从以分计价到以厘计价，将助力企业以更低成本加速业务创新。谭待认为，降低成本是推动大模型快进到“价值创造阶段”的一个关键因素。豆包大模型的定价大幅低于行业价格：以豆包通用模型pro-32k版为例，模型推理输入价格仅为0.0008元/千Tokens。而市面上同规格模型的定价一般为0.12元/千Tokens，是豆包模型价格的150倍。三是，依托内部50多个业务线和前期大模型进行深度共创，字节大模型在从早期预训练战场中，快速转战场景融合和商业化阶段。发布会当天，火山引擎联合中国电动汽车百人会，与吉利汽车、长城汽车、捷途汽车、赛力斯、智己汽车等20余家厂商，宣布成立汽车大模型生态联盟，致力于为消费者带来汽车全场景AI新体验。同时，火山引擎与OPPO、vivo、荣耀、小米、三星、华硕宣布成立智能终端大模型联盟。OPPO小布助手、荣耀智慧办公智能助手、小米“小爱同学”，以及华硕笔记本电脑的豆叮AI助手等应用，均已接入火山引擎的大模型服务背后技术路线目前，豆包大模型已经在智能终端、汽车、金融、社交互娱、在线教育、电商零售、科研、企业服务和法律行业九大领域实践。不同行业的数据和垂类模型有很大的区别，背后大模型的技术难度可想而知。火山引擎副总裁、字节跳动开源委员会负责人张鑫指出，大模型的出现，让AI从“快思考”进入到“慢思考”阶段，并带来了使用方式从图形界面到自然语言，开发方式从写代码到写提示词/图，研发范式从“碎片化”到“大一统”，效率体验从Copilot到Agent的四大变革。然而，面对变革所带来的新发展机遇，企业在数据驱动的大模型商业应用落地时，却面临着交互不擅长深度推理、知识不可溯源、实时更新代价高等挑战。面对上述新的挑战，火山引擎提出了四大破局方案。张鑫分享表示，首先是做好提示词工程最佳实践，掌握这一最高杠杆的技能；其次是从知识库构建和检索两大角度入手，建设企业大脑，做好检索增强生成（RAG）；再次是依托知识图谱能力对大模型进行增强，实现知识与数据的双轮驱动；最后是通过prompt优化、知识增强、调用插件、循环迭代等手段，完善任务拆解的大模型工程化。张鑫指出，火山引擎基于四大破局方案，通过沉淀最佳实践，推出一站式大模型服务平台火山方舟，以及面向业务人员的企业专属AI应用创新平台HiAgent，全面助力企业实现大模型破局的标准化、敏捷化与自动化。谭待表示，火山引擎致力于成为AI时代最开放和领先的云服务平台。全新升级的火山方舟2.0不仅提供了抖音、今日头条的搜索和内容插件等丰富的生态资源，还有着充沛的算力资源和极致弹性，保障客户的业务稳定。火山引擎算法团队也将为豆包大模型的企业客户提供支持，分享模型调优和数据处理的实践经验，与企业客户共同探索AI转型的智能未来。2023年6月，大模型服务平台火山方舟正式发布。平台提供模型精调、推理、评测等全方位功能与服务，提供丰富的插件生态和AI应用开发服务，并通过安全可信方案，专业的算法技术服务，全方位保障企业级Al应用落地。火山方舟2.0，大幅提升模型效果、核心插件、系统性能及平台体验，帮助企业推进大模型的价值创造。在此次发布会，字节跳动还发布新一代AI应用搭建平台扣子，连接大模型和用户场景的扣子，无论用户是否有编程基础，都可以在扣子上快速搭建基于大模型的各类Bot，并将Bot发布到各个社交平台、通讯软件或部署到网站等其他渠道。目前，扣子专业版已集成在火山引擎的大模型服务平台“火山方舟”上，提供企业级SLA和高级特性。招商银行、海底捞火锅、超级猩猩、猎聘等企业，已在扣子上搭建了智能体。除此之外，本次发布会上，火山方舟还重点提到了，2.0产品对插件生态的进一步丰富，更新后的平台将会上线三个凝结了字节跳动内部强项能力的插件——联网插件、内容插件以及RAG知识库插件。总结近期，海外大模型密集迭代，5月14日凌晨，OpenAI在首次“春季新品发布会”上，发布了最新一代旗舰大模型GPT-4o，与之前只能打文字相比，变得更智能，可横跨语音、文本和视觉，超低时延的语音助手和翻译，并且可以感知人类情绪。而更让业界震惊的是，它居然免费，付费则可以获得五倍的使用容量。在价格方面，GPT-4o的价格是GPT-4-turbo的一半，速度却是GPT-4-turbo的两倍，速率限制也高5倍。时隔仅一天，5月15日凌晨，谷歌召开2024 I / O开发者大会，堪称对OpenAI全面反击，其中，包括Gemini 1.5 Pro正式开放给订阅了Geminni Advance的用户，上下文窗口拓展到200万token，推出开源模型Gemma2.0、文生图像模型Imagen3、视频生成对标Sora模型Veo等。而在国内更是硝烟四起，各大互联网科技企业都在加速迭代大模型版本，同时寻求商业化变现之路。字节发布自研豆包大模型，这也意味着国内大模型竞争初步竞争格局已基本形成。豆包大模型在设计上更倾向拟人化、离用户近和个性化，一大特点是能直接从抖音里搜到短视频解答比较具象的问题。而未来，个性化设计、系统承载力、模型训练能力、多模态效果和推理成本会成为每个企业需要不断跨越难点。目前国内大模型市场环境还处于初步阶段，都在极力拓展外部客户，很多客户都还处于同时与多家企业合作和接触阶段，在早期，互联网公司由于具有技术的积累和流量生态的优势，会更容易被外界关注，但最终哪家能领跑商业化变现之路，还是需要真正能解决客户需求的能力。2024年国内大模型逐渐转变为针对产业落地的行业大模型比拼，在模型框架、开发者工具、基础大模型、部署和推理工具等维度上会呈现开源和闭源共存。随着手机和汽车厂商陆续发布支持端侧AI推理的芯片或模型，AI落地端侧也成为重要布局。值得注意的是，2月份，抖音前CEO张楠从抖音转岗剪映，着手推出一个新的AI生图和视频产品。5月初，张楠交出了自己转岗后的首份作业——支持图片和视频生成的即梦AI，但目前官网显示仍处于内测阶段。初阶版视频生成能力，非会员仅支持生成3秒内容。谭待在此次发布会上坦言，企业要真正做好大模型的落地并不是一件容易的事情，有三个非常关键的挑战：第一，是模型效果，必须要有好的基础大模型才能够解决复杂的问题。第二是推理的成本，只有非常非常低的成本服务，才能够让大模型广泛的应用起来。第三是落地难度，需要有更多的工具、更多的插件、更多的平台和应用，来帮助企业在更多的场景里面非常容易地去做好大模型场景落地。","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":306701255319728,"gmtCreate":1715912897526,"gmtModify":1715912899099,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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10:31","market":"hk","language":"zh","title":"中国人工智能发明专利TOP10企业：腾讯第一 华为第五","url":"https://stock-news.laohu8.com/highlight/detail?id=2429675979","media":"手机中国","summary":"4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。平安集团以13139件专利位列第三，国家电网则以11567件专利排在第四。华为以5966件专利名列第五，而蚂蚁集团和阿里巴巴分别以4381件和4103件专利占据第六和第七的位置。京东集团和OPPO分别以3815件和3743件专利位列第八和第九，中国移动则以3709件专利跻身前十。","content":"<html><body><article><p>4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。引人瞩目的是，<a href=\"https://laohu8.com/S/00700\">腾讯</a>、<a href=\"https://laohu8.com/S/BIDU\">百度</a>、平安、国家电网、华为、<a href=\"https://laohu8.com/S/06688\">蚂蚁集团</a>、<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、京东集团、OPPO、<a href=\"https://laohu8.com/S/CHL\">中国移动</a>等企业脱颖而出，跻身前十强。</p><p>具体来看，腾讯以15626件专利位居第一，百度紧随其后，拥有13723件专利。平安集团以13139件专利位列第三，国家电网则以11567件专利排在第四。华为以5966件专利名列第五，而蚂蚁集团和阿里巴巴分别以4381件和4103件专利占据第六和第七的位置。京东集团和OPPO分别以3815件和3743件专利位列第八和第九，<a href=\"https://laohu8.com/S/600941\">中国移动</a>则以3709件专利跻身前十。</p><p>此前，腾讯公司董事会主席兼首席执行官马化腾深入回顾了过去一年腾讯旗下各项业务的发展，并展望了未来的战略规划。在长达35分钟的分享中，马化腾特别强调了AI的重要性，他指出：“AI无疑是去年乃至全行业的焦点，腾讯在这一领域也取得了显著的进步，虽然不能说最领先，但至少没有落后太多。”</p><img src=\"https://inews.gtimg.com/om_bt/OmYE-RYiuhLGBvffPnMVH-Fb-vlrdNIRi097aVpCjCSsgAA/0\"/><p>此外，马化腾指出，接下来，我们要将AI混元大模型与我们的实际场景紧密结合，深度融合到各项业务中。我认为，短期内纯原生的AI应用可能还不会出现，更多的是通过提升我们现有产品的效率来发挥作用，这无疑是一个巨大的机遇。”</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>中国人工智能发明专利TOP10企业：腾讯第一 华为第五</title>\n<style 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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240422103248879f01bc&s=b><strong>手机中国</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。引人瞩目的是，腾讯、百度、平安、国家电网、华为、蚂蚁集团、阿里巴巴、京东集团、OPPO、中国移动等企业脱颖而出，跻身前十强。具体来看，腾讯以15626件专利位居第一，百度紧随其后，拥有13723件专利。平安集团以13139件专利位列第三，国家电网则以11567件...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240422103248879f01bc&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"80700":"腾讯控股-R","80941":"中国移动-R","89618":"京东集团-SWR","89888":"百度集团-SWR","89988":"阿里巴巴-SWR","600941":"中国移动","09618":"京东集团-SW","LU0140636845.USD":"施罗德大中华区股票A Acc","IE00BF5LJ272.USD":"Legg Mason Martin Currie - Global Emerging Markets A Acc USD","LU0320764755.SGD":"FTIF - Templeton Asian Growth A Acc SGD","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) 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ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240422103248879f01bc&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2429675979","content_text":"4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。引人瞩目的是，腾讯、百度、平安、国家电网、华为、蚂蚁集团、阿里巴巴、京东集团、OPPO、中国移动等企业脱颖而出，跻身前十强。具体来看，腾讯以15626件专利位居第一，百度紧随其后，拥有13723件专利。平安集团以13139件专利位列第三，国家电网则以11567件专利排在第四。华为以5966件专利名列第五，而蚂蚁集团和阿里巴巴分别以4381件和4103件专利占据第六和第七的位置。京东集团和OPPO分别以3815件和3743件专利位列第八和第九，中国移动则以3709件专利跻身前十。此前，腾讯公司董事会主席兼首席执行官马化腾深入回顾了过去一年腾讯旗下各项业务的发展，并展望了未来的战略规划。在长达35分钟的分享中，马化腾特别强调了AI的重要性，他指出：“AI无疑是去年乃至全行业的焦点，腾讯在这一领域也取得了显著的进步，虽然不能说最领先，但至少没有落后太多。”此外，马化腾指出，接下来，我们要将AI混元大模型与我们的实际场景紧密结合，深度融合到各项业务中。我认为，短期内纯原生的AI应用可能还不会出现，更多的是通过提升我们现有产品的效率来发挥作用，这无疑是一个巨大的机遇。”","news_type":1},"isVote":1,"tweetType":1,"viewCount":429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":294339402186968,"gmtCreate":1712883373385,"gmtModify":1712883375078,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/09988\">$(09988)$&nbsp;</a><v-v data-views=\"1\"></v-v> AI 加云，带动新业务发展，淘宝天猫在品牌心智这一板是很有护城河的，也是利润的来源。C店比低价，天猫能撑起利润。","listText":"<a href=\"https://laohu8.com/S/09988\">$(09988)$&nbsp;</a><v-v data-views=\"1\"></v-v> AI 加云，带动新业务发展，淘宝天猫在品牌心智这一板是很有护城河的，也是利润的来源。C店比低价，天猫能撑起利润。","text":"$(09988)$ AI 加云，带动新业务发展，淘宝天猫在品牌心智这一板是很有护城河的，也是利润的来源。C店比低价，天猫能撑起利润。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/294339402186968","isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":291370912645408,"gmtCreate":1712161364109,"gmtModify":1712167362217,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$阿里巴巴(BABA)$&nbsp;</a><v-v data-views=\"1\"></v-v> 看好ai 加云，与国际商业加菜鸟物流，只要淘天稳住就好","listText":"<a href=\"https://laohu8.com/S/BABA\">$阿里巴巴(BABA)$&nbsp;</a><v-v data-views=\"1\"></v-v> 看好ai 加云，与国际商业加菜鸟物流，只要淘天稳住就好","text":"$阿里巴巴(BABA)$ 看好ai 加云，与国际商业加菜鸟物流，只要淘天稳住就好","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/291370912645408","isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":279846072479904,"gmtCreate":1709343346003,"gmtModify":1709343347695,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"这样看法，那temu 和希音这些岂不是死的更快？","listText":"这样看法，那temu 和希音这些岂不是死的更快？","text":"这样看法，那temu 和希音这些岂不是死的更快？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/279846072479904","repostId":"2416760610","repostType":2,"repost":{"id":"2416760610","pubTimestamp":1709299009,"share":"https://www.laohu8.com/m/news/2416760610?lang=&edition=full","pubTime":"2024-03-01 21:16","market":"us","language":"zh","title":"全球速卖通增长“掉队”，阿里巴巴该如何破局？","url":"https://stock-news.laohu8.com/highlight/detail?id=2416760610","media":"美股研究社","summary":"本季度，在Choice的推动下，全球速卖通的订单同比增长超过60%，Choice通过将更好的产品选择、价格和质量与物流速度和出色的客户支持相结合，为消费者提供了增强的体验。2024年1月，Choice约占全球速卖通订单总数的一半，并继续实现快速订单增长。正如我们所看到的，最近一个季度国际零售同比增长56%，占阿里巴巴该季度整体收入增长的66%。然而，全球速卖通看起来并不是一个可持续扩大阿里巴巴增长和利润的可行模式。","content":"<html><body><article><img src=\"https://fid-75186.picgzc.qpic.cn/20240301212040675v163ctyxz3tel36\"/><p><strong>作者 | Paulo Santos</strong><strong>编译 | 华尔街大事件</strong>目前，全球速卖通是<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>（NYSE：BABA）的主要增长引擎。快速浏览一下阿里巴巴最近的收益报告就清楚地表明了这一点：</p><img src=\"https://fid-75186.picgzc.qpic.cn/20240301212041192v163o2rcvagsmf8\"/><p>速卖通在突出的细分市场中占据主导地位，正如阿里巴巴所强调的那样：截至2023年12月31日的季度，AIDC的收入同比增长44%至人民币285.16亿元（40.16亿美元），AIDC的合并订单同比增长24%。强劲的业绩得益于AIDC所有零售平台的稳健增长，尤其是跨境速卖通精选业务。随着全球对高品质、高价格产品的需求不断增长，我们的跨境业务同比快速增长。为了维持这一势头并为客户提供差异化服务，我们在本季度增加了投资，并将继续投资于进一步的增长。本季度，在Choice的推动下，全球速卖通的订单同比增长超过60%，Choice通过将更好的产品选择、价格和质量与物流速度和出色的客户支持相结合，为消费者提供了增强的体验。2024年1月，Choice约占全球速卖通订单总数的一半，并继续实现快速订单增长。正如我们所看到的，最近一个季度国际零售同比增长56%，占阿里巴巴该季度整体收入增长的66%。然而，全球速卖通看起来并不是一个可持续扩大阿里巴巴增长和利润的可行模式。在短期内，收入的大幅增长是以该部门亏损增加为代价实现的：</p><img src=\"https://fid-75186.picgzc.qpic.cn/20240301212041738v163xsfcdtftq9k\"/><p>目前，国际上正在以损失为代价换取增长，但可以说损失还不够高！速卖通目前还没有切实可行的方法来解决很多售后问题。速卖通不愿意承担服务成本，因为它的利润率太低，而且它显然也不愿意像<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>那样向供应商施压。因此，随着时间的推移，全球速卖通可能会失去一个又一个高价值客户，其声誉可能会因此受到损害，以至于它可能会因为永久性的客户获取成本而陷入困境，以弥补客户流失。当然，一个解决方案是在所有主要市场建立本地服务。但目前的模式就根本不可行。很明显，提供本地支持的本地替代品或亚马逊会为客户提供更好的服务，这既会消耗成本，也会惩罚越界的第三方供应商。不过，全球速卖通无法走亚马逊的路线，因为它向第三方卖家收取的佣金要低得多，因此无法吸收成本。速卖通根本不可能长期保持竞争力，同时其客户服务政策比其他替代方案所提供的要差得多。同时，就在近期，阿里巴巴宣布其云服务平均降价20%，以吸引业务。然而，电信市场份额增长的结构性原因并不能通过降价来解决。分析师最近对阿里巴巴的估值持乐观态度。然而，由于已经存在的挑战，以及认识到即使是其主要增长引擎也并不坚实，以及更强大且通常更便宜的投资选择的可用性，我回到了中立。阿里巴巴的估值极具吸引力，EV/<span>EBITDA</span>为3.0倍，市盈率为8.3倍，EV/FCF为4-5倍，这对于阿里巴巴这样的领先者来说确实太低了，但前提是它仍然是领先者。考虑到它所面临的挑战，阿里巴巴确实存在失去这种领导地位的风险（在云领域——它可能已经失去了这种领导地位，而且随着时间的推移，可能波及电子商务领域）。在某种程度上，我们可以说阿里巴巴的<span>净利润</span>可能相对被低估了，因此市盈率可能相对被高估了（即使如此低）。我的意思是“相对”，就像“与其他人相比”一样。其他包括<a href=\"https://laohu8.com/S/MSFT\">微软</a>、亚马逊或<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>。请注意，我并不是说阿里巴巴的市盈率低于其他公司。这是显而易见的。我的意思是，即使“较低”的市盈率仍然略微低估了真正的差异。在过去的几年里，微软、亚马逊和谷歌都延长了他们的服务器和网络设备折旧计划。现在，他们的服务器都在六年内折旧。然而，阿里巴巴的服务器折旧期限为3-5年（可能为5年）。这意味着，在相同水平的投资下，与阿里巴巴相比，微软、亚马逊和谷歌现在的折旧率更低，<span>营业利润</span>和净利润更高。这是相关的，因为阿里巴巴、亚马逊、微软和谷歌都是大型云运营商。微软的影响似乎约为净利润的5%-7%，而亚马逊的影响可能更大（考虑到它是最大的云运营商）。除了阿里巴巴在云部门和电子商务部门面临的挑战之外，我现在认为阿里巴巴目前的增长引擎速卖通可能不可持续或导致更高的部门损失。原因是认识到，对于需要保修服务的商品，速卖通现有的模式不具备竞争力——因此，要么导致客户流失/流失，要么必须修改模式，导致成本更高。</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>全球速卖通增长“掉队”，阿里巴巴该如何破局？</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n全球速卖通增长“掉队”，阿里巴巴该如何破局？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-01 21:16 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202403012121108af5ad19&s=b><strong>美股研究社</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者 | Paulo Santos编译 | 华尔街大事件目前，全球速卖通是阿里巴巴（NYSE：BABA）的主要增长引擎。快速浏览一下阿里巴巴最近的收益报告就清楚地表明了这一点：速卖通在突出的细分市场中占据主导地位，正如阿里巴巴所强调的那样：截至2023年12月31日的季度，AIDC的收入同比增长44%至人民币285.16亿元（40.16亿美元），AIDC的合并订单同比增长24%。强劲的业绩得益于...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202403012121108af5ad19&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89988":"阿里巴巴-SWR","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4565":"NFT概念","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 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INC","BK4502":"阿里概念","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4504":"桥水持仓","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202403012121108af5ad19&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2416760610","content_text":"作者 | Paulo Santos编译 | 华尔街大事件目前，全球速卖通是阿里巴巴（NYSE：BABA）的主要增长引擎。快速浏览一下阿里巴巴最近的收益报告就清楚地表明了这一点：速卖通在突出的细分市场中占据主导地位，正如阿里巴巴所强调的那样：截至2023年12月31日的季度，AIDC的收入同比增长44%至人民币285.16亿元（40.16亿美元），AIDC的合并订单同比增长24%。强劲的业绩得益于AIDC所有零售平台的稳健增长，尤其是跨境速卖通精选业务。随着全球对高品质、高价格产品的需求不断增长，我们的跨境业务同比快速增长。为了维持这一势头并为客户提供差异化服务，我们在本季度增加了投资，并将继续投资于进一步的增长。本季度，在Choice的推动下，全球速卖通的订单同比增长超过60%，Choice通过将更好的产品选择、价格和质量与物流速度和出色的客户支持相结合，为消费者提供了增强的体验。2024年1月，Choice约占全球速卖通订单总数的一半，并继续实现快速订单增长。正如我们所看到的，最近一个季度国际零售同比增长56%，占阿里巴巴该季度整体收入增长的66%。然而，全球速卖通看起来并不是一个可持续扩大阿里巴巴增长和利润的可行模式。在短期内，收入的大幅增长是以该部门亏损增加为代价实现的：目前，国际上正在以损失为代价换取增长，但可以说损失还不够高！速卖通目前还没有切实可行的方法来解决很多售后问题。速卖通不愿意承担服务成本，因为它的利润率太低，而且它显然也不愿意像亚马逊那样向供应商施压。因此，随着时间的推移，全球速卖通可能会失去一个又一个高价值客户，其声誉可能会因此受到损害，以至于它可能会因为永久性的客户获取成本而陷入困境，以弥补客户流失。当然，一个解决方案是在所有主要市场建立本地服务。但目前的模式就根本不可行。很明显，提供本地支持的本地替代品或亚马逊会为客户提供更好的服务，这既会消耗成本，也会惩罚越界的第三方供应商。不过，全球速卖通无法走亚马逊的路线，因为它向第三方卖家收取的佣金要低得多，因此无法吸收成本。速卖通根本不可能长期保持竞争力，同时其客户服务政策比其他替代方案所提供的要差得多。同时，就在近期，阿里巴巴宣布其云服务平均降价20%，以吸引业务。然而，电信市场份额增长的结构性原因并不能通过降价来解决。分析师最近对阿里巴巴的估值持乐观态度。然而，由于已经存在的挑战，以及认识到即使是其主要增长引擎也并不坚实，以及更强大且通常更便宜的投资选择的可用性，我回到了中立。阿里巴巴的估值极具吸引力，EV/EBITDA为3.0倍，市盈率为8.3倍，EV/FCF为4-5倍，这对于阿里巴巴这样的领先者来说确实太低了，但前提是它仍然是领先者。考虑到它所面临的挑战，阿里巴巴确实存在失去这种领导地位的风险（在云领域——它可能已经失去了这种领导地位，而且随着时间的推移，可能波及电子商务领域）。在某种程度上，我们可以说阿里巴巴的净利润可能相对被低估了，因此市盈率可能相对被高估了（即使如此低）。我的意思是“相对”，就像“与其他人相比”一样。其他包括微软、亚马逊或谷歌。请注意，我并不是说阿里巴巴的市盈率低于其他公司。这是显而易见的。我的意思是，即使“较低”的市盈率仍然略微低估了真正的差异。在过去的几年里，微软、亚马逊和谷歌都延长了他们的服务器和网络设备折旧计划。现在，他们的服务器都在六年内折旧。然而，阿里巴巴的服务器折旧期限为3-5年（可能为5年）。这意味着，在相同水平的投资下，与阿里巴巴相比，微软、亚马逊和谷歌现在的折旧率更低，营业利润和净利润更高。这是相关的，因为阿里巴巴、亚马逊、微软和谷歌都是大型云运营商。微软的影响似乎约为净利润的5%-7%，而亚马逊的影响可能更大（考虑到它是最大的云运营商）。除了阿里巴巴在云部门和电子商务部门面临的挑战之外，我现在认为阿里巴巴目前的增长引擎速卖通可能不可持续或导致更高的部门损失。原因是认识到，对于需要保修服务的商品，速卖通现有的模式不具备竞争力——因此，要么导致客户流失/流失，要么必须修改模式，导致成本更高。","news_type":1},"isVote":1,"tweetType":1,"viewCount":296,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":267982491107592,"gmtCreate":1706449882816,"gmtModify":1706449884752,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"作者，淘宝亚马逊很差吗？说了这么多年，也不见国内的汽车芯片产业起来，就一吹牛，博眼球，此庸人也","listText":"作者，淘宝亚马逊很差吗？说了这么多年，也不见国内的汽车芯片产业起来，就一吹牛，博眼球，此庸人也","text":"作者，淘宝亚马逊很差吗？说了这么多年，也不见国内的汽车芯片产业起来，就一吹牛，博眼球，此庸人也","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/267982491107592","repostId":"2406962203","repostType":2,"repost":{"id":"2406962203","pubTimestamp":1706230275,"share":"https://www.laohu8.com/m/news/2406962203?lang=&edition=full","pubTime":"2024-01-26 08:51","market":"us","language":"zh","title":"三十岁的亚马逊，遭遇淘宝式困境","url":"https://stock-news.laohu8.com/highlight/detail?id=2406962203","media":"中国家电网","summary":"2024年，对亚马逊而言，意味深长。尽管如此，亚马逊依然不敢言笑。这意味着，而立之年，亚马逊遭遇“围猎”。一次又一次的迭代，令亚马逊再度成为华尔街的“座上宾”。不承想，这个期许亚马逊始终未能达到。更为严重的是，亚马逊不但一度被“万亿美元俱乐部”出名，更是一度市值缩水超过一万亿美元，与苹果、微软的市值越拉越大。2023年第三季度，亚马逊的营业收入为1430.83亿美元，同比增长12.57%;净利润为98.79亿美元，同比暴涨243.98%。","content":"<html><body><p cms-style=\"font-L isIntable \">2024年，对<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>而言，意味深长。</p><p cms-style=\"font-L isIntable \">成立于1994年的亚马逊，起初不过是一家图书电商平台，后迭代为全球市值最高的综合电商平台，好不风光。</p><p cms-style=\"font-L isIntable \">尽管如此，亚马逊依然不敢言笑。</p><p cms-style=\"font-L isIntable \">当下，跨境电商“四小龙”不但在全球舞台上锋芒毕露，更是策马加鞭般追赶，一场新旧势力的正面较量在所难免。</p><p cms-style=\"font-L isIntable \">这意味着，而立之年，亚马逊遭遇“围猎”。</p><p cms-style=\"font-L isIntable \">　01 不断迭代，不断自我救赎</p><p cms-style=\"font-L isIntable \">“今天依然是‘第一天’!”</p><p cms-style=\"font-L isIntable \">这是亚马逊创始人贝索斯的座右铭，也是亚马逊三十年来的成长缩影。</p><p cms-style=\"font-L isIntable \">1994年，31岁的贝索斯创立了亚马逊网站，在线销售正版图书，亏得不要不要的，但在那个科技泡沫年代，这并不是一个问题，只要是.com就OK，1997年上市至1998年底其股票价格暴涨了23倍，令人瞠目结舌。</p><p cms-style=\"font-L isIntable \">华尔街一端连着天堂，另一端连着地狱。</p><p cms-style=\"font-L isIntable \">1999年，互联网泡沫破灭无数财富化为尘土，无数公司被贴上“骗子”的标签，所幸亚马逊成功进行了自我救赎。</p><p cms-style=\"font-L isIntable \">从网上书店到零售平台，从Kindle电子书阅读器到智能硬件，从云计算到大模型……</p><p cms-style=\"font-L isIntable \">一次又一次的迭代，令亚马逊再度成为华尔街的“座上宾”。</p><p cms-style=\"font-L isIntable \">曾几何时，华尔街津津乐道的是，<a href=\"https://laohu8.com/S/AAPL\">苹果</a>、<a href=\"https://laohu8.com/S/MSFT\">微软</a>与亚马逊，这“三巨头”谁能拔得头筹，率先叩开两万亿美元市值的大门。</p><p cms-style=\"font-L isIntable \">不承想，这个期许亚马逊始终未能达到。</p><p cms-style=\"font-L isIntable \">2021年7月，亚马逊市值触及1.88万亿美元的历史高点，之后一路下滑，2022年堪称其“水逆之年”，全年前复权的年度跌幅高达49.62%，结束了七年涨的辉煌历史。</p><p cms-style=\"font-L isIntable \">更为严重的是，亚马逊不但一度被“万亿美元俱乐部”出名，更是一度市值缩水超过一万亿美元，与苹果、微软的市值越拉越大。</p><p cms-style=\"font-L isIntable \">此背景下，降本增效成为亚马逊的关键词。</p><p cms-style=\"font-L isIntable \">据Layoffs.fyi的数据显示，亚马逊是海外科技公司裁员力度最狠的公司，2022年11月裁员10000人，2023年1月裁员8000人，3月裁员9000人，短短数月合计裁员2.7万人，打破了硅谷的历史记录。</p><p cms-style=\"font-L isIntable \">于是乎，亚马逊的业绩又好了起来。</p><p cms-style=\"font-L isIntable \">2023年第三季度，亚马逊的营业收入为1430.83亿美元，同比增长12.57%;净利润为98.79亿美元，同比暴涨243.98%。</p><div><div><div><div><div><div>\n<figure>\n<img h=\"360\" src=\"http://k.sinaimg.cn/n/spider20240126/640/w1080h360/20240126/6be2-e44f39b97072f283e2e1d65f91ec0970.jpg/w700d1q75cms.jpg?by=cms_fixed_width\" w=\"1080\"/>\n<h2></h2>\n</figure>\n<span></span></div><span></span></div><span></span></div><span></span></div><span></span></div><span>亚马逊的净利润重回增长(单位：美元)</span></div><p cms-style=\"font-L isIntable \">华尔街投行奥本海默表示：“亚马逊的市值已经超过1.5万亿美元，因为它一直专注于削减成本，提升人工智能，并可能通过云计算AWS渡过难关。”</p><p cms-style=\"font-L isIntable \">　02 淘宝的困境，也成了亚马逊的难题</p><p cms-style=\"font-L isIntable \">需要注意的是，亚马逊的业绩虽然重返高增长，但依然不能高枕无忧。</p><p cms-style=\"font-L isIntable \">一方面，与淘宝的困境一致。</p><p cms-style=\"font-L isIntable \">在国内，电商市场从“红海”走向“血海”，出海成为行业的共识，加码之下成绩也可圈可点，Temu、SHEIN、Tiktok Shop与AliExpress，被称为跨境电商“四小龙”，成为中国电商出海的主力军。</p><p cms-style=\"font-L isIntable \">譬如，Temu为<a href=\"https://laohu8.com/S/PDD\">拼多多</a>的海外版，2022年9月出海就引起全球的轰动，连续数月霸榜App Store、Google Play的免费下载榜。</p><p cms-style=\"font-L isIntable \">据《2023年中国跨境电商平台出海白皮书》显示，AliExpress、SHEIN、Tiktok Shop与Temu的月均访问量分别为5.3亿次、1.9亿次、0.7亿次和1亿次。</p><p cms-style=\"font-L isIntable \">虽然，跨境电商“四小龙”与亚马逊还有不小的差距，但成长速度却令后者心惊肉跳。</p><p cms-style=\"font-L isIntable \">据data.ai的数据显示，2023年10月，亚马逊全球用户数量同比增长4%，而Temu和SHEIN加起来猛增至2.6倍;这两款应用在美国的新增下载量达到亚马逊的近5倍。</p><p cms-style=\"font-L isIntable \">须知，美国是亚马逊的最大市场。</p><p cms-style=\"font-L isIntable \">冲击之下，亚马逊2023年10月在美国的用户数量同比下降了8%，使用时间同比减少20%，基本面遭受蚕食肉眼可见。</p><p cms-style=\"font-L isIntable \">这与淘宝当下的困境如出一辙。</p><p cms-style=\"font-L isIntable \">一名市场人士告诉锌刻度：“按理说，亚马逊应该主动出击争夺商家与用户，为了业绩好看却上调了旺季FBA配送费用、旺季仓储费、广告投放费用等，白白便宜了竞争对手。”</p>\n<figure>\n<img h=\"535\" src=\"http://k.sinaimg.cn/n/spider20240126/370/w635h535/20240126/0ab4-91022ccd214f3396a09b50937bf00c14.jpg/w700d1q75cms.jpg?by=cms_fixed_width\" w=\"635\"/>\n<h2></h2>\n</figure>\n<p cms-style=\"font-L isIntable \">亚马逊乃美股“七姐妹”之一</p><p cms-style=\"font-L isIntable \">另外一方面，转型电商新形态不顺。</p><p cms-style=\"font-L isIntable \">虽然淘宝被拼多多压着打，连头都抬不起，好歹在直播与种草等电商新形态中还占据一席之地，而亚马逊却几乎没有什么拿得出手。</p><p cms-style=\"font-L isIntable \">譬如，亚马逊堪其实是直播电商的第一批玩家，早在2016年就推出Amazon Live，却直到2019年才重视起来，为此倾斜了不少资源，但一直不见起色，迄今为止依然处于行业的边缘状态。</p><p cms-style=\"font-L isIntable \">一名私募人士告诉锌刻度：“全球消费者的口味各不同，有的注重品牌可信度、有的青睐商品性价比、有的依赖主播的个人魅力，有的看重互动娱乐性……再叠加思维不同、习俗不同、文化不同等营收，加大了海外的直播带货的难度。”</p><p cms-style=\"font-L isIntable \">如此一来，亚马逊不再“性感”。</p><p cms-style=\"font-L isIntable \">事实上，为了挽回颓势亚马逊也做了许多努力，近期与Meta、Snap达成合作共谋社交购物，即允许Facebook、Instagram、Snapchat用户在社交媒体直接购买亚马逊的商品，从而获得新的流量入口。</p><p cms-style=\"font-L isIntable \">上述措施的实际效果有待观察，但跨境电商“四小龙”改写亚马逊一家独大的格局的趋势或不会改变。</p><p cms-style=\"font-L isIntable \">毕竟，淘宝也是这么走上下坡路的。</p><p cms-style=\"font-L isIntable \">03 跨境电商起势，背后有何依仗?</p><p cms-style=\"font-L isIntable \">攻入亚马逊的腹地，跨境电商“四小龙”的确有两把刷子。</p><p cms-style=\"font-L isIntable \">首先，打法新颖</p><p cms-style=\"font-L isIntable \">跨境电商“四小龙”虽然都偏爱低价策略，但侧重各有不同，令亚马逊应接不暇，也难以放下身段与之应战。</p><p cms-style=\"font-L isIntable \">以Temu为例，其策略为“Team Up，Price Down”，与“拼得多，省得多”有异曲同工之妙，走的是低价跑量、裂变营销路线，邀请新人注册、接受老用户邀请等都可以实打实获得不同数额的美元。</p><p cms-style=\"font-L isIntable \">毫不夸张地说，拼多多的“砍一刀”也成功征服了海外用户。</p><p cms-style=\"font-L isIntable \">其次，供应链完善</p><p cms-style=\"font-L isIntable \">电商的价格之争，其实就是供应链之争，比拼的是平台对供应链掌控深度，如此才赢得了海外消费者的信任。</p><p cms-style=\"font-L isIntable \">以SHEIN为例，在时尚和服装类网站的网络访问量排名世界第一，主打的是上新快、品类多、迭代狠、价格低，无一不是供应链加持的结果。</p><p cms-style=\"font-L isIntable \">“高效的物流和易于使用的应用开发能力相得益彰，能够直接与海外消费者接触。”伊藤忠综研主任研究员赵玮琳在谈到中国电商时表示，“正在迎合追求更廉价产品的美国国内消费者的需求”。</p><p cms-style=\"font-L isIntable \">　再次，俘获年轻人</p><p cms-style=\"font-L isIntable \">TikTok不但成为全球短视频巨头，更是成为全球年轻人的“心头好”，令亚马逊、<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>、Meta等全球互联网巨头坐立难安。</p>\n<figure>\n<img h=\"484\" src=\"http://k.sinaimg.cn/n/spider20240126/156/w472h484/20240126/35ed-6f752600b6dfd72fe7215fa0e55deb33.jpg/w700d1q75cms.jpg?by=cms_fixed_width\" w=\"472\"/>\n<h2></h2>\n</figure>\n<p cms-style=\"font-L isIntable \">TikTok成为全球年轻人的“心头好”</p><p cms-style=\"font-L isIntable \">据Apptopia的数据显示，2022年，TikTok以6.27亿的下载量再次夺下全球应用程序下载冠军宝座，且总下载量已达到30亿次。</p><p cms-style=\"font-L isIntable \">流量变现，一直是TikTok的核心诉求，而电商被公认为流量变现的最佳途径之一，于是2021年2月在印尼上线了TikTok Shop，开启了海外流量变现之旅。</p><p cms-style=\"font-L isIntable \">如此一来，亚马逊与TikTok的矛盾不可调和，与TikTok Shop争斗年轻人不占优势。</p><p cms-style=\"font-L isIntable \">总而言之，亚马逊成立三十年，与苹果、谷歌、微软、Meta、<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>、<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>并列美股“七姐妹”，但在跨境电商“四小龙”的冲击之下，有了不确定性。</p><p cms-style=\"font-L isIntable \">毕竟，淘宝的“今日”，或是亚马逊的“明日”。</p>\n<div>\n<img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/>\n</div>\n</body></html>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>三十岁的亚马逊，遭遇淘宝式困境</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ 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class=\"title\">\n三十岁的亚马逊，遭遇淘宝式困境\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-26 08:51 北京时间&nbsp;&nbsp;&nbsp;<a href=https://tech.sina.cn/digi/elec/2024-01-26/detail-inaevhph0319120.d.html?vt=4><strong>中国家电网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2024年，对亚马逊而言，意味深长。成立于1994年的亚马逊，起初不过是一家图书电商平台，后迭代为全球市值最高的综合电商平台，好不风光。尽管如此，亚马逊依然不敢言笑。当下，跨境电商“四小龙”不但在全球舞台上锋芒毕露，更是策马加鞭般追赶，一场新旧势力的正面较量在所难免。这意味着，而立之年，亚马逊遭遇“围猎”。　01 不断迭代，不断自我救赎“今天依然是‘第一天’!”这是亚马逊创始人贝索斯的座右铭，也是...</p>\n\n<a href=\"https://tech.sina.cn/digi/elec/2024-01-26/detail-inaevhph0319120.d.html?vt=4\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/spider20240126/640/w1080h360/20240126/6be2-e44f39b97072f283e2e1d65f91ec0970.jpg/w120h90l50t14f9.jpg","relate_stocks":{"89988":"阿里巴巴-SWR","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA 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EQUITY \"A1\" (USD) ACC","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","BK1608":"元宇宙概念","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK1502":"双十一","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4592":"伊斯兰概念","BK1501":"阿里概念股","LU0080751232.USD":"富达环球多元动力基金A","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4559":"巴菲特持仓","AMZN":"亚马逊","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","BK4588":"碎股","LU0051755006.USD":"摩根大通中国A (dist)","LU1688375341.USD":"贝莱德中国灵活股票基金","BK4550":"红杉资本持仓","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC"},"source_url":"https://tech.sina.cn/digi/elec/2024-01-26/detail-inaevhph0319120.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2406962203","content_text":"2024年，对亚马逊而言，意味深长。成立于1994年的亚马逊，起初不过是一家图书电商平台，后迭代为全球市值最高的综合电商平台，好不风光。尽管如此，亚马逊依然不敢言笑。当下，跨境电商“四小龙”不但在全球舞台上锋芒毕露，更是策马加鞭般追赶，一场新旧势力的正面较量在所难免。这意味着，而立之年，亚马逊遭遇“围猎”。　01 不断迭代，不断自我救赎“今天依然是‘第一天’!”这是亚马逊创始人贝索斯的座右铭，也是亚马逊三十年来的成长缩影。1994年，31岁的贝索斯创立了亚马逊网站，在线销售正版图书，亏得不要不要的，但在那个科技泡沫年代，这并不是一个问题，只要是.com就OK，1997年上市至1998年底其股票价格暴涨了23倍，令人瞠目结舌。华尔街一端连着天堂，另一端连着地狱。1999年，互联网泡沫破灭无数财富化为尘土，无数公司被贴上“骗子”的标签，所幸亚马逊成功进行了自我救赎。从网上书店到零售平台，从Kindle电子书阅读器到智能硬件，从云计算到大模型……一次又一次的迭代，令亚马逊再度成为华尔街的“座上宾”。曾几何时，华尔街津津乐道的是，苹果、微软与亚马逊，这“三巨头”谁能拔得头筹，率先叩开两万亿美元市值的大门。不承想，这个期许亚马逊始终未能达到。2021年7月，亚马逊市值触及1.88万亿美元的历史高点，之后一路下滑，2022年堪称其“水逆之年”，全年前复权的年度跌幅高达49.62%，结束了七年涨的辉煌历史。更为严重的是，亚马逊不但一度被“万亿美元俱乐部”出名，更是一度市值缩水超过一万亿美元，与苹果、微软的市值越拉越大。此背景下，降本增效成为亚马逊的关键词。据Layoffs.fyi的数据显示，亚马逊是海外科技公司裁员力度最狠的公司，2022年11月裁员10000人，2023年1月裁员8000人，3月裁员9000人，短短数月合计裁员2.7万人，打破了硅谷的历史记录。于是乎，亚马逊的业绩又好了起来。2023年第三季度，亚马逊的营业收入为1430.83亿美元，同比增长12.57%;净利润为98.79亿美元，同比暴涨243.98%。\n\n\n\n\n亚马逊的净利润重回增长(单位：美元)华尔街投行奥本海默表示：“亚马逊的市值已经超过1.5万亿美元，因为它一直专注于削减成本，提升人工智能，并可能通过云计算AWS渡过难关。”　02 淘宝的困境，也成了亚马逊的难题需要注意的是，亚马逊的业绩虽然重返高增长，但依然不能高枕无忧。一方面，与淘宝的困境一致。在国内，电商市场从“红海”走向“血海”，出海成为行业的共识，加码之下成绩也可圈可点，Temu、SHEIN、Tiktok Shop与AliExpress，被称为跨境电商“四小龙”，成为中国电商出海的主力军。譬如，Temu为拼多多的海外版，2022年9月出海就引起全球的轰动，连续数月霸榜App Store、Google Play的免费下载榜。据《2023年中国跨境电商平台出海白皮书》显示，AliExpress、SHEIN、Tiktok Shop与Temu的月均访问量分别为5.3亿次、1.9亿次、0.7亿次和1亿次。虽然，跨境电商“四小龙”与亚马逊还有不小的差距，但成长速度却令后者心惊肉跳。据data.ai的数据显示，2023年10月，亚马逊全球用户数量同比增长4%，而Temu和SHEIN加起来猛增至2.6倍;这两款应用在美国的新增下载量达到亚马逊的近5倍。须知，美国是亚马逊的最大市场。冲击之下，亚马逊2023年10月在美国的用户数量同比下降了8%，使用时间同比减少20%，基本面遭受蚕食肉眼可见。这与淘宝当下的困境如出一辙。一名市场人士告诉锌刻度：“按理说，亚马逊应该主动出击争夺商家与用户，为了业绩好看却上调了旺季FBA配送费用、旺季仓储费、广告投放费用等，白白便宜了竞争对手。”\n\n\n\n\n亚马逊乃美股“七姐妹”之一另外一方面，转型电商新形态不顺。虽然淘宝被拼多多压着打，连头都抬不起，好歹在直播与种草等电商新形态中还占据一席之地，而亚马逊却几乎没有什么拿得出手。譬如，亚马逊堪其实是直播电商的第一批玩家，早在2016年就推出Amazon Live，却直到2019年才重视起来，为此倾斜了不少资源，但一直不见起色，迄今为止依然处于行业的边缘状态。一名私募人士告诉锌刻度：“全球消费者的口味各不同，有的注重品牌可信度、有的青睐商品性价比、有的依赖主播的个人魅力，有的看重互动娱乐性……再叠加思维不同、习俗不同、文化不同等营收，加大了海外的直播带货的难度。”如此一来，亚马逊不再“性感”。事实上，为了挽回颓势亚马逊也做了许多努力，近期与Meta、Snap达成合作共谋社交购物，即允许Facebook、Instagram、Snapchat用户在社交媒体直接购买亚马逊的商品，从而获得新的流量入口。上述措施的实际效果有待观察，但跨境电商“四小龙”改写亚马逊一家独大的格局的趋势或不会改变。毕竟，淘宝也是这么走上下坡路的。03 跨境电商起势，背后有何依仗?攻入亚马逊的腹地，跨境电商“四小龙”的确有两把刷子。首先，打法新颖跨境电商“四小龙”虽然都偏爱低价策略，但侧重各有不同，令亚马逊应接不暇，也难以放下身段与之应战。以Temu为例，其策略为“Team Up，Price Down”，与“拼得多，省得多”有异曲同工之妙，走的是低价跑量、裂变营销路线，邀请新人注册、接受老用户邀请等都可以实打实获得不同数额的美元。毫不夸张地说，拼多多的“砍一刀”也成功征服了海外用户。其次，供应链完善电商的价格之争，其实就是供应链之争，比拼的是平台对供应链掌控深度，如此才赢得了海外消费者的信任。以SHEIN为例，在时尚和服装类网站的网络访问量排名世界第一，主打的是上新快、品类多、迭代狠、价格低，无一不是供应链加持的结果。“高效的物流和易于使用的应用开发能力相得益彰，能够直接与海外消费者接触。”伊藤忠综研主任研究员赵玮琳在谈到中国电商时表示，“正在迎合追求更廉价产品的美国国内消费者的需求”。　再次，俘获年轻人TikTok不但成为全球短视频巨头，更是成为全球年轻人的“心头好”，令亚马逊、谷歌、Meta等全球互联网巨头坐立难安。\n\n\n\n\nTikTok成为全球年轻人的“心头好”据Apptopia的数据显示，2022年，TikTok以6.27亿的下载量再次夺下全球应用程序下载冠军宝座，且总下载量已达到30亿次。流量变现，一直是TikTok的核心诉求，而电商被公认为流量变现的最佳途径之一，于是2021年2月在印尼上线了TikTok Shop，开启了海外流量变现之旅。如此一来，亚马逊与TikTok的矛盾不可调和，与TikTok Shop争斗年轻人不占优势。总而言之，亚马逊成立三十年，与苹果、谷歌、微软、Meta、特斯拉、英伟达并列美股“七姐妹”，但在跨境电商“四小龙”的冲击之下，有了不确定性。毕竟，淘宝的“今日”，或是亚马逊的“明日”。","news_type":1},"isVote":1,"tweetType":1,"viewCount":500,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":652200033,"gmtCreate":1684542547423,"gmtModify":1684548650215,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"信任是最大的回报","listText":"信任是最大的回报","text":"信任是最大的回报","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/652200033","repostId":"2336159852","repostType":2,"repost":{"id":"2336159852","pubTimestamp":1684478884,"share":"https://www.laohu8.com/m/news/2336159852?lang=&edition=full","pubTime":"2023-05-19 14:48","market":"us","language":"zh","title":"蒋凡“杀回”阿里核心层","url":"https://stock-news.laohu8.com/highlight/detail?id=2336159852","media":"全天候科技","summary":"5月18日，阿里巴巴集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜","content":"<html><head></head><body><p>5月18日，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜鸟、本地生活等板块成为新增长引擎。</p><p>一季度，阿里巴巴开启了史上最重要的一次组织变革：采用“1+6+N”架构，即在阿里巴巴集团之下，设立阿里云<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>、淘宝天猫商业、本地生活、国际数字商业、菜鸟、大文娱等六大业务集团和多家业务公司。</p><p>本次财报的最大亮点是，阿里巴巴集团透露了改革计划的新进展：云智能集团将从阿里巴巴集团完全分拆独立走向上市，菜鸟、盒马启动上市计划，国际数字商业集团启动外部融资，六大业务集团正式成立董事会。</p><p>就在所有人的注意被该消息吸引时，久未露面的蒋凡，悄然“现身”了。</p><p>在财报电话会上，他以阿里巴巴国际数字商业集团（AIDC）CEO的身份点评了该业务一季度表现，并对投资人介绍了旗下各板块业务未来计划发展方向。</p><p><strong>2023年一季度，阿里巴巴国际业务一骑绝尘，营收同比增速近30%，位列六大业务集团之首；其中国际零售收入同比增长41%，连续3个季度超出市场预期。</strong></p><p>忙活海外业务一年多的蒋凡，终于算是打了场漂亮的“翻身仗”。</p><p>不过，现在显然不到他庆贺的时候。受各国经济发展水平影响，海外电商渗透率、基础设施完善度、用户消费偏好等在不同地区的差异较大。</p><p>这就给蒋凡提出了更高的管理要求，业务也需要更多时间落地。尤其是在阿里巴巴业务分拆之后，更考验AIDC独自乘风破浪的能力。</p><h2>业务迎来“大翻身”</h2><p>2021年12月，张勇用一封内部信启动了阿里巴巴集团架构调整的步伐。</p><p>11号员工戴珊被任命为“中国数字商业板块”负责人，掌管阿里巴巴最核心、国内用户更熟悉的淘宝、天猫等业务；而在“大淘宝”奋战了七年的蒋凡，则被调往“海外数字商业板块”，管理速卖通、国际贸易等海外业务一层组织，以及Lazada等面向海外市场的子公司。</p><p>这一度被认为是阿里巴巴近年来最重要的一次组织调整。尽管蒋凡的职级从集团副总裁升为了分管业务大总裁，但调离集团最核心的业务，在外界看来就是一种“流放”，远离了权力中心，明升暗降。</p><p>甚至有人猜测，蒋凡可能在相当长一段时间内晋升无望，不排除离开阿里巴巴单飞；还有断言，蒋凡调任海外，是阿里巴巴增加海外业务权重的可能性较低。</p><p>但就国际数字商业集团的成绩看，蒋凡只是离开了一个时刻暴露在聚光灯下的业务，去负责阿里巴巴未来重点想要发展的业务，并没有“躺平”、放弃的意思。</p><p>2023年一季度，国际数字商业集团整体营收达到185.41亿元，占阿里巴巴集团总营收（2082亿元）的9%，与云业务收入（185.82亿元）基本持平，仅次于淘天集团（前身：中国数字商业板块）；收入同比增速达到29%，处于新拆分的六大集团营收同比增幅首位。</p><p><em>2023Q1阿里巴巴集团主要财务情况</em></p><p>具体而言，国际零售和国际批发两大板块，贡献了国际数字商业集团的全部收入。</p><p>一季度，国际零售商业营收达到139.67亿元，同比大幅增长41%；订单量整体同比也了增长15%。</p><p>其中，Lazada通过优化买家体验，在东南亚市场实现双位数订单同比增长；Trendyol新业务订单增长强劲，季度订单同比增长率保持强韧；速卖通3月以来订单量快速增长，同比去年增幅超50%。</p><p>相较而言，国际批发商业受市场环境影响，收入增幅（3%）并不大，期内营收为45.74亿元。</p><p>从业绩表现能够清晰看到，国际数字商业集团的地位与日俱增，与云业务的收入差距正在逐步缩小。一年前，蒋凡刚刚接手这块业务时，两者单季收入差还有46.36亿元左右；一年后，国际数字商业集团就与云业务营收相当了。</p><p>就连阿里巴巴集团都在财报中指出：随着消费者服务能力与供应链能力齐头并进，海外业务已经逐渐成长为驱动阿里稳健增长的新引擎之一。</p><h2>蒋凡的出海策略</h2><p>业绩大幅增长的背后，很难说没有蒋凡的功劳。</p><p>自2022年1月上任起，蒋凡就被曝出频繁出差海外，带队到新加坡到欧洲市场考察。事实上，他做的工作远不止调研外部市场这么简单，更多是对组织架构、经营策略、战略方向等的梳理和调整。</p><p>张勇在2021年底宣布的组织架构调整中，将速卖通、阿里国际站、东南亚电商平台Lazada、土耳其电商平台Trendyol、南亚电商平台Daraz等都划入了“海外数字商业板块（GDC，Global Digital Commerce）”，由蒋凡统管。</p><p>而在“1+6+N”架构变革中，GDC从阿里巴巴集团分拆出来，成立了阿里巴巴国际数字商业集团（AIDC，Alibaba International Digital Commerce），由阿里巴巴集团董事兼总裁J. Michael EVANS任董事长，蒋凡任董事兼首席执行官，阿里巴巴合伙人彭蕾、淘天集团CEO戴珊、阿里巴巴合伙人吴泳铭任董事。</p><p><em>阿里巴巴国际数字商业集团最新董事会成员</em></p><p>分拆过后，AIDC的业务模式划分也非常清晰：有to B和to C两条线。</p><p>其中，面向C端的业务包括跨境电商平台速卖通、淘宝天猫海外，以及外国本土电商平台Lazada、Trendyol、Daraz等；而面向B端的业务就是B2B数字外贸平台Alibaba.com（阿里国际站）。</p><p>从业务覆盖区域来看，国际站触达全球190余个国家和地区；速卖通主攻欧洲市场，去年也加大了对韩国市场的投入；Lazada主要服务印尼、马来西亚、菲律宾、新加坡、泰国和越南这六个东南亚国家；Trendyol经营土耳其市场、Daraz专注南亚。</p><p><strong>全天候科技了解到，目前Trendyol和Daraz两大平台虽然并入了AIDC的财务报表，实际是独立运营状态，有自己的董事会；而蒋凡更多的精力，还是投入在速卖通、国际站和Lazada上。</strong></p><p>“跨境+本地化”，是蒋凡在摸清阿里巴巴海外业务发展情况后，确定并坚持的经营策略。</p><p>首先，是组织管理的“本地化”，这一点在Lazada业务上表现十分突出。</p><p>去年6月起，蒋凡从Lazada最高管理层下手，进行了人员大调整：任命董铮接替李纯，担任Lazada新任集团CEO，兼印尼分公司CEO。</p><p>在此之前，董铮曾是Lazada泰国、越南业务的“一把手”，熟悉东南亚市场的情况。他认为，东南亚六国处于非常不一样的发展阶段，需要因地制宜地匹配业务形态，并推动了Lazada管理人才本土化策略。</p><p>截至目前，Lazada业务每个国家都有负责当地市场的CEO，除董铮兼任印尼CEO外，其余五国CEO基本是从一线摸爬滚打提拔上来的当地人。</p><p>其次，做大做强基于中国制造业供应链的跨境零售电商。</p><p>主要从两方面着手：挖掘新市场、新人群，让业务规模持续扩大；提高补贴效率、完善增值服务，优化商业化变现效率。</p><p>以速卖通为例，其在去年底向平台商家推出了“全托管服务”，负责店铺运营、仓储、配送、售后服务等环节，从而降低跨境贸易门槛，吸引了更多有供给力缺经营力的商家入驻。</p><p>今年3月，又向全球消费者推出了新服务Choice，主打极致性价比。指定国家的消费者在Choice下单可享受免运费、免费退货和配送质量保证等服务。</p><p>在刚刚过去的一季度，速卖通订单同比获得了两位数增长，阿里巴巴则将这部分业绩上升的原因归功于Choice功能的带动。</p><p>蒋凡在财报电话会上表示，面向未来，国际零售业务依然会坚持跨境+本地模式的投入；跨境市场的潜力依然很大，速卖通将保持快速增长；本地市场中，除了在东南亚市场持续投入，也会积极关注更多新的区域市场机会。</p><h2>庆贺为时过早</h2><p>全球化已经成为互联网下半场，各家企业绕不开的发展课题。特别是在国内流量和用户渗透率接近饱和的时候，海外就成了兵家必争之地。</p><p>美团点评CEO王兴就曾表示，互联网下半场三大激动人心的机会是“上天、入地、全球化”。</p><p>阿里巴巴更是在2016年就确定了“内需、全球化、科技”三大战略；之后，张勇也多次在公开场合表达对全球化的重视，认为“全球化是阿里的未来，必须坚决全球买、全球卖、全球运和全球玩”。</p><p>除了云业务、菜鸟，海外业务天然成为了阿里巴巴全球化战略的重要践行者。</p><p>“过去几年，阿里巴巴海外市场增长迅速，海外年度活跃消费者已达2.85亿，但距离成为一家真正意义上的全球化公司，距离在潜力广阔的海外市场有更大作为，我们还有很长的路要走。”在任命蒋凡接管海外时，张勇就在内部信中表达了自己的希望，称“期待蒋凡带领团队在海外市场发展中实现更多创新。”</p><p>按照阿里巴巴的愿景，其目标是到2036年服务全球20亿消费者。</p><p><em>阿里目标到2036年服务全球20亿消费者</em></p><p>截至2022年3月31日止的12个月，阿里巴巴集团全球年度活跃消费者达约13.1亿。对比国内外看，中国市场实现超10亿消费者的里程碑，显然已经逼近天花板；而13亿年度活跃消费者，只有3.05亿来自海外，未来还有巨大增量空间。</p><p>但这并不意味着，蒋凡就能不费吹灰之力，一路高歌猛进。相反，摆在他面前的内部挑战和外部困难不少，没有任何一件事是一蹴而就的。</p><p>AIDC的各业务分部中，Lazada始终深耕东南亚市场，但具体各国存在国情差异，这就不能进行模式全盘复制，而是要有针对性的解决。自2016年斥资收购Lazada控股权以来，阿里巴巴就在搭建海外基础设施，直到今天才基本完成。</p><p>在巴基斯坦、缅甸、斯里兰卡等五国开设站点的Daraz亦存在Lazada类似的问题；而速卖通在欧洲市场的业务受外部环境影响较大，还需再开辟新市场；Trendyol的主体市场土耳其又相对单一，人口基数小，业务规模有限。这些难点都需要蒋凡带领团队去各个击破。</p><p>跟自家业务的难点比起来，外部平台的挑战或许更让蒋凡感到压力。</p><p>踩着直播短视频风口起来的TikTok，在东南亚一路攻城略地。据SenseTower数据，TikTok在印尼约有2亿用户下载量，占到整个东南亚地区40%以上；去年印尼开斋节期间，平台订单量增幅达493%，GMV增幅高达92%。</p><p>而据招商人员向全天候科技透露，TikTok的月活用户已超16亿，电商业务未来充满想象空间。</p><p><a href=\"https://laohu8.com/S/PDD\">拼多多</a>海外版Temu在北美市场正做得风生水起，又向着英国、法国、德国、意大利、西班牙、荷兰等欧洲国家进军，发展势头强劲。</p><p>此外，不少像SHEIN一样的独立站、海外市场的本地化电商平台，也都加入了这场战事，想要尽力分一杯羹。</p><p>对于蒋凡来说，海外是一个完全陌生的战场，没有任何范本可以照搬，每走一步都得小心翼翼，但他似乎并不担心。在财报电话会上，蒋凡透露，部分业务其实已经有非常好的利润，有一些业务是还在投入期，但整体海外板块是有潜力的。</p><p>带着AIDC独自发展的他，能否再为阿里巴巴创造惊喜？只有时间能给出答案。</p></body></html>","source":"awtmt_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>蒋凡“杀回”阿里核心层</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n蒋凡“杀回”阿里核心层\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-19 14:48 北京时间&nbsp;&nbsp;&nbsp;<a href=https://api.jianyuweb.com/apiv1/content/articles/3689154?extract=1><strong>全天候科技</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>5月18日，阿里巴巴集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜鸟、本地生活等板块成为新增长引擎。一季度，阿里巴巴开启了史上最重要的一次组织变革：采用“1+6+N”架构，即在阿里巴巴集团之下，设立阿里云智能、淘宝天猫商业、本地生活、国际数字商业、菜鸟、大文娱等六大...</p>\n\n<a href=\"https://api.jianyuweb.com/apiv1/content/articles/3689154?extract=1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/efaec2c318175bb7b136d276123765d5","relate_stocks":{"LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0128522744.USD":"TEMPLETON EMERGING MARKETS \"A\" ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU0348783233.USD":"安联东方收入型 CI A Dis美元","BK1588":"回港中概股","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","BK4220":"综合零售","BK4524":"宅经济概念","BK4585":"ETF&股票定投概念","BK4527":"明星科技股","BK1249":"综合零售","BK4579":"人工智能","LU0287142896.SGD":"Fidelity China Focus A-SGD","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","IE00B3M56506.USD":"NEUBERGER 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ACC"},"source_url":"https://api.jianyuweb.com/apiv1/content/articles/3689154?extract=1","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2336159852","content_text":"5月18日，阿里巴巴集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜鸟、本地生活等板块成为新增长引擎。一季度，阿里巴巴开启了史上最重要的一次组织变革：采用“1+6+N”架构，即在阿里巴巴集团之下，设立阿里云智能、淘宝天猫商业、本地生活、国际数字商业、菜鸟、大文娱等六大业务集团和多家业务公司。本次财报的最大亮点是，阿里巴巴集团透露了改革计划的新进展：云智能集团将从阿里巴巴集团完全分拆独立走向上市，菜鸟、盒马启动上市计划，国际数字商业集团启动外部融资，六大业务集团正式成立董事会。就在所有人的注意被该消息吸引时，久未露面的蒋凡，悄然“现身”了。在财报电话会上，他以阿里巴巴国际数字商业集团（AIDC）CEO的身份点评了该业务一季度表现，并对投资人介绍了旗下各板块业务未来计划发展方向。2023年一季度，阿里巴巴国际业务一骑绝尘，营收同比增速近30%，位列六大业务集团之首；其中国际零售收入同比增长41%，连续3个季度超出市场预期。忙活海外业务一年多的蒋凡，终于算是打了场漂亮的“翻身仗”。不过，现在显然不到他庆贺的时候。受各国经济发展水平影响，海外电商渗透率、基础设施完善度、用户消费偏好等在不同地区的差异较大。这就给蒋凡提出了更高的管理要求，业务也需要更多时间落地。尤其是在阿里巴巴业务分拆之后，更考验AIDC独自乘风破浪的能力。业务迎来“大翻身”2021年12月，张勇用一封内部信启动了阿里巴巴集团架构调整的步伐。11号员工戴珊被任命为“中国数字商业板块”负责人，掌管阿里巴巴最核心、国内用户更熟悉的淘宝、天猫等业务；而在“大淘宝”奋战了七年的蒋凡，则被调往“海外数字商业板块”，管理速卖通、国际贸易等海外业务一层组织，以及Lazada等面向海外市场的子公司。这一度被认为是阿里巴巴近年来最重要的一次组织调整。尽管蒋凡的职级从集团副总裁升为了分管业务大总裁，但调离集团最核心的业务，在外界看来就是一种“流放”，远离了权力中心，明升暗降。甚至有人猜测，蒋凡可能在相当长一段时间内晋升无望，不排除离开阿里巴巴单飞；还有断言，蒋凡调任海外，是阿里巴巴增加海外业务权重的可能性较低。但就国际数字商业集团的成绩看，蒋凡只是离开了一个时刻暴露在聚光灯下的业务，去负责阿里巴巴未来重点想要发展的业务，并没有“躺平”、放弃的意思。2023年一季度，国际数字商业集团整体营收达到185.41亿元，占阿里巴巴集团总营收（2082亿元）的9%，与云业务收入（185.82亿元）基本持平，仅次于淘天集团（前身：中国数字商业板块）；收入同比增速达到29%，处于新拆分的六大集团营收同比增幅首位。2023Q1阿里巴巴集团主要财务情况具体而言，国际零售和国际批发两大板块，贡献了国际数字商业集团的全部收入。一季度，国际零售商业营收达到139.67亿元，同比大幅增长41%；订单量整体同比也了增长15%。其中，Lazada通过优化买家体验，在东南亚市场实现双位数订单同比增长；Trendyol新业务订单增长强劲，季度订单同比增长率保持强韧；速卖通3月以来订单量快速增长，同比去年增幅超50%。相较而言，国际批发商业受市场环境影响，收入增幅（3%）并不大，期内营收为45.74亿元。从业绩表现能够清晰看到，国际数字商业集团的地位与日俱增，与云业务的收入差距正在逐步缩小。一年前，蒋凡刚刚接手这块业务时，两者单季收入差还有46.36亿元左右；一年后，国际数字商业集团就与云业务营收相当了。就连阿里巴巴集团都在财报中指出：随着消费者服务能力与供应链能力齐头并进，海外业务已经逐渐成长为驱动阿里稳健增长的新引擎之一。蒋凡的出海策略业绩大幅增长的背后，很难说没有蒋凡的功劳。自2022年1月上任起，蒋凡就被曝出频繁出差海外，带队到新加坡到欧洲市场考察。事实上，他做的工作远不止调研外部市场这么简单，更多是对组织架构、经营策略、战略方向等的梳理和调整。张勇在2021年底宣布的组织架构调整中，将速卖通、阿里国际站、东南亚电商平台Lazada、土耳其电商平台Trendyol、南亚电商平台Daraz等都划入了“海外数字商业板块（GDC，Global Digital Commerce）”，由蒋凡统管。而在“1+6+N”架构变革中，GDC从阿里巴巴集团分拆出来，成立了阿里巴巴国际数字商业集团（AIDC，Alibaba International Digital Commerce），由阿里巴巴集团董事兼总裁J. Michael EVANS任董事长，蒋凡任董事兼首席执行官，阿里巴巴合伙人彭蕾、淘天集团CEO戴珊、阿里巴巴合伙人吴泳铭任董事。阿里巴巴国际数字商业集团最新董事会成员分拆过后，AIDC的业务模式划分也非常清晰：有to B和to C两条线。其中，面向C端的业务包括跨境电商平台速卖通、淘宝天猫海外，以及外国本土电商平台Lazada、Trendyol、Daraz等；而面向B端的业务就是B2B数字外贸平台Alibaba.com（阿里国际站）。从业务覆盖区域来看，国际站触达全球190余个国家和地区；速卖通主攻欧洲市场，去年也加大了对韩国市场的投入；Lazada主要服务印尼、马来西亚、菲律宾、新加坡、泰国和越南这六个东南亚国家；Trendyol经营土耳其市场、Daraz专注南亚。全天候科技了解到，目前Trendyol和Daraz两大平台虽然并入了AIDC的财务报表，实际是独立运营状态，有自己的董事会；而蒋凡更多的精力，还是投入在速卖通、国际站和Lazada上。“跨境+本地化”，是蒋凡在摸清阿里巴巴海外业务发展情况后，确定并坚持的经营策略。首先，是组织管理的“本地化”，这一点在Lazada业务上表现十分突出。去年6月起，蒋凡从Lazada最高管理层下手，进行了人员大调整：任命董铮接替李纯，担任Lazada新任集团CEO，兼印尼分公司CEO。在此之前，董铮曾是Lazada泰国、越南业务的“一把手”，熟悉东南亚市场的情况。他认为，东南亚六国处于非常不一样的发展阶段，需要因地制宜地匹配业务形态，并推动了Lazada管理人才本土化策略。截至目前，Lazada业务每个国家都有负责当地市场的CEO，除董铮兼任印尼CEO外，其余五国CEO基本是从一线摸爬滚打提拔上来的当地人。其次，做大做强基于中国制造业供应链的跨境零售电商。主要从两方面着手：挖掘新市场、新人群，让业务规模持续扩大；提高补贴效率、完善增值服务，优化商业化变现效率。以速卖通为例，其在去年底向平台商家推出了“全托管服务”，负责店铺运营、仓储、配送、售后服务等环节，从而降低跨境贸易门槛，吸引了更多有供给力缺经营力的商家入驻。今年3月，又向全球消费者推出了新服务Choice，主打极致性价比。指定国家的消费者在Choice下单可享受免运费、免费退货和配送质量保证等服务。在刚刚过去的一季度，速卖通订单同比获得了两位数增长，阿里巴巴则将这部分业绩上升的原因归功于Choice功能的带动。蒋凡在财报电话会上表示，面向未来，国际零售业务依然会坚持跨境+本地模式的投入；跨境市场的潜力依然很大，速卖通将保持快速增长；本地市场中，除了在东南亚市场持续投入，也会积极关注更多新的区域市场机会。庆贺为时过早全球化已经成为互联网下半场，各家企业绕不开的发展课题。特别是在国内流量和用户渗透率接近饱和的时候，海外就成了兵家必争之地。美团点评CEO王兴就曾表示，互联网下半场三大激动人心的机会是“上天、入地、全球化”。阿里巴巴更是在2016年就确定了“内需、全球化、科技”三大战略；之后，张勇也多次在公开场合表达对全球化的重视，认为“全球化是阿里的未来，必须坚决全球买、全球卖、全球运和全球玩”。除了云业务、菜鸟，海外业务天然成为了阿里巴巴全球化战略的重要践行者。“过去几年，阿里巴巴海外市场增长迅速，海外年度活跃消费者已达2.85亿，但距离成为一家真正意义上的全球化公司，距离在潜力广阔的海外市场有更大作为，我们还有很长的路要走。”在任命蒋凡接管海外时，张勇就在内部信中表达了自己的希望，称“期待蒋凡带领团队在海外市场发展中实现更多创新。”按照阿里巴巴的愿景，其目标是到2036年服务全球20亿消费者。阿里目标到2036年服务全球20亿消费者截至2022年3月31日止的12个月，阿里巴巴集团全球年度活跃消费者达约13.1亿。对比国内外看，中国市场实现超10亿消费者的里程碑，显然已经逼近天花板；而13亿年度活跃消费者，只有3.05亿来自海外，未来还有巨大增量空间。但这并不意味着，蒋凡就能不费吹灰之力，一路高歌猛进。相反，摆在他面前的内部挑战和外部困难不少，没有任何一件事是一蹴而就的。AIDC的各业务分部中，Lazada始终深耕东南亚市场，但具体各国存在国情差异，这就不能进行模式全盘复制，而是要有针对性的解决。自2016年斥资收购Lazada控股权以来，阿里巴巴就在搭建海外基础设施，直到今天才基本完成。在巴基斯坦、缅甸、斯里兰卡等五国开设站点的Daraz亦存在Lazada类似的问题；而速卖通在欧洲市场的业务受外部环境影响较大，还需再开辟新市场；Trendyol的主体市场土耳其又相对单一，人口基数小，业务规模有限。这些难点都需要蒋凡带领团队去各个击破。跟自家业务的难点比起来，外部平台的挑战或许更让蒋凡感到压力。踩着直播短视频风口起来的TikTok，在东南亚一路攻城略地。据SenseTower数据，TikTok在印尼约有2亿用户下载量，占到整个东南亚地区40%以上；去年印尼开斋节期间，平台订单量增幅达493%，GMV增幅高达92%。而据招商人员向全天候科技透露，TikTok的月活用户已超16亿，电商业务未来充满想象空间。拼多多海外版Temu在北美市场正做得风生水起，又向着英国、法国、德国、意大利、西班牙、荷兰等欧洲国家进军，发展势头强劲。此外，不少像SHEIN一样的独立站、海外市场的本地化电商平台，也都加入了这场战事，想要尽力分一杯羹。对于蒋凡来说，海外是一个完全陌生的战场，没有任何范本可以照搬，每走一步都得小心翼翼，但他似乎并不担心。在财报电话会上，蒋凡透露，部分业务其实已经有非常好的利润，有一些业务是还在投入期，但整体海外板块是有潜力的。带着AIDC独自发展的他，能否再为阿里巴巴创造惊喜？只有时间能给出答案。","news_type":1},"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":610300745,"gmtCreate":1648485967414,"gmtModify":1648485967414,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a>这个价格很值得","listText":"<a href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a>这个价格很值得","text":"$阿里巴巴-SW(09988)$这个价格很值得","images":[{"img":"https://static.tigerbbs.com/19779c29b9cfcf8de8c651211d94958c","width":"750","height":"2198"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/610300745","isVote":1,"tweetType":1,"viewCount":1103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":308302926405944,"gmtCreate":1716291111417,"gmtModify":1716291113290,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"国人的公司真的很多坑","listText":"国人的公司真的很多坑","text":"国人的公司真的很多坑","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/308302926405944","repostId":"2437495789","repostType":2,"repost":{"id":"2437495789","weMediaInfo":{"introduction":"Share your news with media, investors, and consumers with targeted distribution options from one of the world’s largest and most trusted newswires.","home_visible":1,"media_name":"GlobeNewswire","id":"1016364462","head_image":"https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a"},"pubTimestamp":1716280778,"share":"https://www.laohu8.com/m/news/2437495789?lang=&edition=full","pubTime":"2024-05-21 16:39","market":"hk","language":"en","title":"JD.com Drops 5% After the Company Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes","url":"https://stock-news.laohu8.com/highlight/detail?id=2437495789","media":"GlobeNewswire","summary":"BEIJING, May  21, 2024  (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service ","content":"<html><head></head><body><p>JD.com stock dropped 5% in premarket trading after the company announces proposed offering of US$1.5 billion convertible senior notes.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/64a800228a11cef45f2243f80c55bc1b\" tg-width=\"469\" tg-height=\"419\"/></p><p>BEIJING, May 21, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$1.5 billion due 2029 (the “Notes”), subject to market conditions and other factors. The Company intends to grant an option to the initial purchasers in the Notes Offering, exercisable within a 30-day period, beginning on and including the date of the Notes Offering, to purchase up to an additional US$225 million in aggregate principal amount of the Notes.<br/></p><p>The Company plans to use the net proceeds from the Notes Offering (a) for the Concurrent Repurchase (as described below) and to repurchase on the open market, after the pricing of the Notes and from time to time, additional Class A ordinary shares and/or American depositary shares (“ADSs”), each representing two Class A ordinary shares, of the Company pursuant to its share repurchase program(s), (b) to expand its overseas business, (c) to further improve its supply chain network and (d) for working capital needs.</p><p><strong>Expected Terms of the Notes</strong></p><p>When issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2029, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.</p><p>Holders of the Notes may convert their Notes at their option at any time prior to the close of business on the third scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver, as the case may be, cash, ADSs, or a combination of cash and ADSs, at the Company’s election. Holders may elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, which will be fungible with the Company’s Class A ordinary shares listed on the Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) after the resale restriction termination date (as set forth in the terms of the Notes). The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.</p><p>Holders of the Notes may require the Company to repurchase all or part of their Notes for cash on June 1, 2027 or in the event of certain fundamental changes, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after June 8, 2027, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws or if less than 10% of the aggregate principal amount of the Notes originally issued remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.</p><p><strong>Concurrent and Future Repurchases</strong></p><p>Concurrently with the pricing of the Notes, the Company plans to repurchase a number of its Class A ordinary shares and/or ADSs to be determined at the time of pricing of the Notes from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent (such transactions, the “Concurrent Repurchase”). The Concurrent Repurchase is expected to facilitate the initial hedging by purchasers of the Notes who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire initial delta of the transaction. This will allow such purchasers of the Notes to establish short positions that generally correspond to commercially reasonable initial hedges of their investments in the Notes. The Concurrent Repurchase will be made pursuant to the Company’s share repurchase program announced in March 2024. The Company expects the purchase price in the Concurrent Repurchase to be (i) in the case of ADSs, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024 as adjusted for the ADS-to-share ratio at a pre-determined exchange rate for U.S. dollars and (ii) in the case of Class A ordinary shares, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024.</p><p>In addition to the Concurrent Repurchase, the Company may also repurchase additional Class A ordinary shares and/or ADSs on the open market after the pricing of the Notes and from time to time. The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program(s) will be funded by the net proceeds of the Notes Offering and other cash on hand, and, in the aggregate, are generally expected to offset potential dilution to the holders of the Company’s ordinary shares (including in the form of ADSs) upon conversion of the Notes.</p><p><strong>Other Matters</strong></p><p>The repurchase activities by the Company, whether in the Concurrent Repurchase or otherwise pursuant to its share repurchase program(s), could increase, or reduce the magnitude of any decrease in, the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes.</p><p>The Company expects that potential purchasers of the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential purchasers of the Notes following the pricing of the Notes and prior to the maturity date could affect the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.</p><p>The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.</p><p>This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.</p><p>This press release contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.</p><p><strong>About JD.com, Inc.</strong></p><p>JD.com is a leading supply chain-based technology and service provider. The company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.</p><p><strong>Safe Harbor Statement</strong></p><p>This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; laws, regulations and governmental policies relating to the industries in which JD.com or its business partners operate; potential changes in laws, regulations and governmental policies or changes in the interpretation and implementation of laws, regulations and governmental policies that could adversely affect the industries in which JD.com or its business partners operate, including, among others, initiatives to enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security; risks associated with JD.com’s acquisitions, investments and alliances, including fluctuation in the market value of JD.com’s investment portfolio; natural disasters and geopolitical events; change in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and globally. Further information regarding these and other risks is included in JD.com’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided herein is as of the date of this announcement, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c2196de8ba412c60c22ab491af7b1409\" title=\"\" tg-width=\"1\" tg-height=\"1\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JD.com Drops 5% After the Company Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJD.com Drops 5% After the Company Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1016364462\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">GlobeNewswire </p>\n<p class=\"h-time\">2024-05-21 16:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>JD.com stock dropped 5% in premarket trading after the company announces proposed offering of US$1.5 billion convertible senior notes.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/64a800228a11cef45f2243f80c55bc1b\" tg-width=\"469\" tg-height=\"419\"/></p><p>BEIJING, May 21, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$1.5 billion due 2029 (the “Notes”), subject to market conditions and other factors. The Company intends to grant an option to the initial purchasers in the Notes Offering, exercisable within a 30-day period, beginning on and including the date of the Notes Offering, to purchase up to an additional US$225 million in aggregate principal amount of the Notes.<br/></p><p>The Company plans to use the net proceeds from the Notes Offering (a) for the Concurrent Repurchase (as described below) and to repurchase on the open market, after the pricing of the Notes and from time to time, additional Class A ordinary shares and/or American depositary shares (“ADSs”), each representing two Class A ordinary shares, of the Company pursuant to its share repurchase program(s), (b) to expand its overseas business, (c) to further improve its supply chain network and (d) for working capital needs.</p><p><strong>Expected Terms of the Notes</strong></p><p>When issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2029, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.</p><p>Holders of the Notes may convert their Notes at their option at any time prior to the close of business on the third scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver, as the case may be, cash, ADSs, or a combination of cash and ADSs, at the Company’s election. Holders may elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, which will be fungible with the Company’s Class A ordinary shares listed on the Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) after the resale restriction termination date (as set forth in the terms of the Notes). The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.</p><p>Holders of the Notes may require the Company to repurchase all or part of their Notes for cash on June 1, 2027 or in the event of certain fundamental changes, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after June 8, 2027, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws or if less than 10% of the aggregate principal amount of the Notes originally issued remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.</p><p><strong>Concurrent and Future Repurchases</strong></p><p>Concurrently with the pricing of the Notes, the Company plans to repurchase a number of its Class A ordinary shares and/or ADSs to be determined at the time of pricing of the Notes from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent (such transactions, the “Concurrent Repurchase”). The Concurrent Repurchase is expected to facilitate the initial hedging by purchasers of the Notes who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire initial delta of the transaction. This will allow such purchasers of the Notes to establish short positions that generally correspond to commercially reasonable initial hedges of their investments in the Notes. The Concurrent Repurchase will be made pursuant to the Company’s share repurchase program announced in March 2024. The Company expects the purchase price in the Concurrent Repurchase to be (i) in the case of ADSs, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024 as adjusted for the ADS-to-share ratio at a pre-determined exchange rate for U.S. dollars and (ii) in the case of Class A ordinary shares, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024.</p><p>In addition to the Concurrent Repurchase, the Company may also repurchase additional Class A ordinary shares and/or ADSs on the open market after the pricing of the Notes and from time to time. The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program(s) will be funded by the net proceeds of the Notes Offering and other cash on hand, and, in the aggregate, are generally expected to offset potential dilution to the holders of the Company’s ordinary shares (including in the form of ADSs) upon conversion of the Notes.</p><p><strong>Other Matters</strong></p><p>The repurchase activities by the Company, whether in the Concurrent Repurchase or otherwise pursuant to its share repurchase program(s), could increase, or reduce the magnitude of any decrease in, the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes.</p><p>The Company expects that potential purchasers of the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential purchasers of the Notes following the pricing of the Notes and prior to the maturity date could affect the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.</p><p>The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.</p><p>This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.</p><p>This press release contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.</p><p><strong>About JD.com, Inc.</strong></p><p>JD.com is a leading supply chain-based technology and service provider. The company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.</p><p><strong>Safe Harbor Statement</strong></p><p>This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; laws, regulations and governmental policies relating to the industries in which JD.com or its business partners operate; potential changes in laws, regulations and governmental policies or changes in the interpretation and implementation of laws, regulations and governmental policies that could adversely affect the industries in which JD.com or its business partners operate, including, among others, initiatives to enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security; risks associated with JD.com’s acquisitions, investments and alliances, including fluctuation in the market value of JD.com’s investment portfolio; natural disasters and geopolitical events; change in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and globally. Further information regarding these and other risks is included in JD.com’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided herein is as of the date of this announcement, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c2196de8ba412c60c22ab491af7b1409\" title=\"\" tg-width=\"1\" tg-height=\"1\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89618":"京东集团-SWR","IE0008368742.USD":"首域中国增长基金I Acc","SG9999002463.SGD":"LionGlobal China Growth SGD","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","BK1591":"就地过年概念","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","BK1502":"双十一","LU0051755006.USD":"摩根大通中国A (dist)","LU0594300419.USD":"富达中国消费基金A","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU1044876610.USD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"ZU\" (USD) ACC","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","BK4585":"ETF&股票定投概念","LU0456842615.SGD":"JPMorgan Funds - Emerging Markets Equity A (acc) SGD","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0052750758.USD":"富兰克林中国基金A Acc","BK4558":"双十一","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","BK4509":"腾讯概念","BK1588":"回港中概股","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0359201612.USD":"贝莱德中国基金A2","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1044875133.USD":"天利亚洲反向股票 AU Acc","BK1249":"综合零售","BK4579":"人工智能","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","BK4588":"碎股","09618":"京东集团-SW","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","LU0048580855.USD":"富达大中华区A","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","BK4551":"寇图资本持仓","JD":"京东","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC"},"source_url":"https://www.globenewswire.com/news-release/2024/05/21/2885338/0/en/JD-com-Announces-Proposed-Offering-of-US-1-5-Billion-Convertible-Senior-Notes.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2437495789","content_text":"JD.com stock dropped 5% in premarket trading after the company announces proposed offering of US$1.5 billion convertible senior notes.BEIJING, May 21, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$1.5 billion due 2029 (the “Notes”), subject to market conditions and other factors. The Company intends to grant an option to the initial purchasers in the Notes Offering, exercisable within a 30-day period, beginning on and including the date of the Notes Offering, to purchase up to an additional US$225 million in aggregate principal amount of the Notes.The Company plans to use the net proceeds from the Notes Offering (a) for the Concurrent Repurchase (as described below) and to repurchase on the open market, after the pricing of the Notes and from time to time, additional Class A ordinary shares and/or American depositary shares (“ADSs”), each representing two Class A ordinary shares, of the Company pursuant to its share repurchase program(s), (b) to expand its overseas business, (c) to further improve its supply chain network and (d) for working capital needs.Expected Terms of the NotesWhen issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2029, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.Holders of the Notes may convert their Notes at their option at any time prior to the close of business on the third scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver, as the case may be, cash, ADSs, or a combination of cash and ADSs, at the Company’s election. Holders may elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, which will be fungible with the Company’s Class A ordinary shares listed on the Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) after the resale restriction termination date (as set forth in the terms of the Notes). The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.Holders of the Notes may require the Company to repurchase all or part of their Notes for cash on June 1, 2027 or in the event of certain fundamental changes, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after June 8, 2027, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws or if less than 10% of the aggregate principal amount of the Notes originally issued remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.Concurrent and Future RepurchasesConcurrently with the pricing of the Notes, the Company plans to repurchase a number of its Class A ordinary shares and/or ADSs to be determined at the time of pricing of the Notes from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent (such transactions, the “Concurrent Repurchase”). The Concurrent Repurchase is expected to facilitate the initial hedging by purchasers of the Notes who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire initial delta of the transaction. This will allow such purchasers of the Notes to establish short positions that generally correspond to commercially reasonable initial hedges of their investments in the Notes. The Concurrent Repurchase will be made pursuant to the Company’s share repurchase program announced in March 2024. The Company expects the purchase price in the Concurrent Repurchase to be (i) in the case of ADSs, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024 as adjusted for the ADS-to-share ratio at a pre-determined exchange rate for U.S. dollars and (ii) in the case of Class A ordinary shares, the closing price of the Class A ordinary shares on the Hong Kong Stock Exchange on May 21, 2024.In addition to the Concurrent Repurchase, the Company may also repurchase additional Class A ordinary shares and/or ADSs on the open market after the pricing of the Notes and from time to time. The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program(s) will be funded by the net proceeds of the Notes Offering and other cash on hand, and, in the aggregate, are generally expected to offset potential dilution to the holders of the Company’s ordinary shares (including in the form of ADSs) upon conversion of the Notes.Other MattersThe repurchase activities by the Company, whether in the Concurrent Repurchase or otherwise pursuant to its share repurchase program(s), could increase, or reduce the magnitude of any decrease in, the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes.The Company expects that potential purchasers of the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential purchasers of the Notes following the pricing of the Notes and prior to the maturity date could affect the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs and/or Class A ordinary shares and/or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.This press release contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.About JD.com, Inc.JD.com is a leading supply chain-based technology and service provider. The company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; laws, regulations and governmental policies relating to the industries in which JD.com or its business partners operate; potential changes in laws, regulations and governmental policies or changes in the interpretation and implementation of laws, regulations and governmental policies that could adversely affect the industries in which JD.com or its business partners operate, including, among others, initiatives to enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security; risks associated with JD.com’s acquisitions, investments and alliances, including fluctuation in the market value of JD.com’s investment portfolio; natural disasters and geopolitical events; change in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and globally. Further information regarding these and other risks is included in JD.com’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided herein is as of the date of this announcement, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.","news_type":1},"isVote":1,"tweetType":1,"viewCount":224,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3437340877473194","authorId":"3437340877473194","name":"Cjfsky201610","avatar":"https://static.tigerbbs.com/990f83875eb3fd831df53d5601c8bd7c","crmLevel":6,"crmLevelSwitch":0},"content":"为什么这么说？怎么分析","text":"为什么这么说？怎么分析","html":"为什么这么说？怎么分析"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":291370912645408,"gmtCreate":1712161364109,"gmtModify":1712167362217,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$阿里巴巴(BABA)$&nbsp;</a><v-v data-views=\"1\"></v-v> 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加云，与国际商业加菜鸟物流，只要淘天稳住就好","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/291370912645408","isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":321868293120088,"gmtCreate":1719590132671,"gmtModify":1719590134606,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"&nbsp;拿几千工资的人，评价万亿的企业与千亿的企业家","listText":"&nbsp;拿几千工资的人，评价万亿的企业与千亿的企业家","text":"拿几千工资的人，评价万亿的企业与千亿的企业家","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321868293120088","repostId":"2446378482","repostType":2,"repost":{"id":"2446378482","weMediaInfo":{"introduction":"挖掘互联网创业机会，为创业者提供最真诚服务。","home_visible":1,"media_name":"刘旷","id":"1054650051","head_image":"https://static.tigerbbs.com/3ec32a8ed3664db2bd5c9d2fcf3bc685"},"pubTimestamp":1719449280,"share":"https://www.laohu8.com/m/news/2446378482?lang=&edition=full","pubTime":"2024-06-27 08:48","market":"us","language":"zh","title":"时代造就淘宝，淘宝败给时代","url":"https://stock-news.laohu8.com/highlight/detail?id=2446378482","media":"刘旷","summary":"然而，淘宝在下沉市场确实失利了，但要将淘宝落寞的核心原因归因于下沉市场的失败，同样也是站不住脚的。今天的淘宝，在内容电商的投资和布局依然不弱于任何一家电商平台，淘宝并没有在内容电商败给其他电商平台。同样，也只有时代的淘宝，没有淘宝的时代。所以，今天淘宝的落寞，只是败给了时代。","content":"<html><body><div><p><img src=\"https://static.tigerbbs.com/0ec60f2c377846a3945cee99c97ed44f\"/></p><p><span>今天的淘宝，看山不是山，看水不是水，境遇已大不相同。</span></p><p><span><a href=\"https://laohu8.com/S/GS\">高盛</a>报告显示，淘宝天猫的市场份额从2019年的66%，下降至2022年的44%左右，四年降幅1/3。2024年淘宝的市场份额还剩多少，很难说清楚，但是这两年，<a href=\"https://laohu8.com/S/PDD\">拼多多</a>和抖音的势头是越来越猛了，还有视频号、小红书、快手等一众内容平台在抢夺电商这块蛋糕。</span></p><p><span><strong>有人将淘宝的落寞归因于管理者的失策</strong></span></p><p><span>张勇毫无疑问成为了最大的买单者，毕竟事情没做好，最终总是需要人来承担。但是真的只是张勇的管理失策吗？如果要论管理者失策，难道马云没有责任？蔡崇信没有责任？</span></p><p><span>成者王侯败者寇，这话确实不假，但是要把事情的责任全部都推到人的身上，并不完全合乎情理，更何况张勇并非无能之辈。</span></p><p><span>其一，张勇能做到<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>整个集团董事长兼CEO的位置，并非是靠运气得来的，而是靠着自己一路厮杀所展现出来的能力。他还是“双十一”这个伟大狂欢购物节的缔造者，帮助阿里巴巴成功的实现了从PC端到移动互联网的变迁。</span></p><p><span>其二，马云识人的本事，放眼整个互联网，有几人能说自己比马云厉害？既然当初决定把整个阿里巴巴集团都交给张勇来打理，马云也是经过足够的深思熟虑后才做的决定，同时也说明了马云对张勇能力的充分认可！</span></p><p><span>既然张勇并非无能之辈，又是有功之臣，那把淘宝的落寞归因于张勇的管理失策，又是否妥当呢？</span></p><p><span>很明显，不妥当。</span></p><p><span><strong>有人将淘宝的落寞归因于下沉市场的失败</strong></span></p><p><span>一直主打下沉市场的拼多多，这几年发展确实很猛，尤其是今天拼多多的市值已经超越阿里巴巴，这让很多人都说淘宝因为下沉市场的失利，所以输给了拼多多。</span></p><p><span>事实上并非如此。</span></p><p><span>淘宝很早就有布局下沉市场，甚至早于拼多多，10年前淘宝村也曾风靡一时。2014 年，阿里提出“千县万村”计划，要在3-5年间投资100亿元、建立1000个县级运营中心和10万个村级服务站。</span></p><p><span>可以说，淘宝对于下沉市场的重视和投入不弱于任何一个电商平台，包括拼多多和<a href=\"https://laohu8.com/S/JD\">京东</a>。</span></p><p><span>当初的淘宝，不论是下沉市场和农村市场的商家还是用户规模，淘宝也是强于其他任何一个电商平台。</span></p><p><span>然而，淘宝在下沉市场确实失利了，但要将淘宝落寞的核心原因归因于下沉市场的失败，同样也是站不住脚的。</span></p><p><img src=\"https://static.tigerbbs.com/2c448de5e6b646d6b1acd2c08257ac03\"/></p><p><span><strong>有人将淘宝的落寞归因于内容电商的失落</strong></span></p><p><span>抖音、快手、小红书借助内容电商崛起，确实对整个电商格局产生了非常大的影响，尤其是今天的抖音，已经成长为中国电商的第四极。</span></p><p><span>事实上，淘宝在短视频、直播等内容电商的布局和投入，同样不弱于任何一家电商平台和任何一家短视频直播平台。</span></p><p><span>早在2016年4月，时任阿里CEO的张勇就将社区化、内容化定为淘宝未来的方向。之后，淘宝上线了直播频道、淘宝头条、问大家和淘宝社区等一些列内容专区。与此同时，淘宝也开始全面打造短视频，开始打造自己的短视频APP。</span></p><p><span>在直播方面的布局，淘宝就更早了。而最早在电商直播做出成果的当属淘宝直播了，薇娅、李佳琦等一众头部主播都诞生于淘宝直播。此后，才有了抖音电商直播、快手电商直播对淘宝直播的效仿。</span></p><p><span>今天的淘宝，在内容电商的投资和布局依然不弱于任何一家电商平台，淘宝并没有在内容电商败给其他电商平台。甚至可以这么说，淘宝电商直播比除抖音直播之外的所有电商直播都要做得好。</span></p><p><span><strong>淘宝，只是败给了时代</strong></span></p><p><span>正如那句名言：只有时代的马云，没有马云的时代。</span></p><p><strong><span>同样，也只有时代的淘宝，没有淘宝的时代。</span></strong></p><p><span>淘宝当初的崛起，恰恰是时代造就的产物，当初国内电商还是一片空白，淘宝凭借着对中国市场和商家更为熟悉，战胜了当时全球最大的电商网站<a href=\"https://laohu8.com/S/EBAY\">eBay</a>。</span></p><p><span>下沉市场的失利，只是因为淘宝不小心赶上了消费降级，拼多多的强势崛起同样也受益于消费降级这个大时代。谁也不曾预料到，今天的消费降级来得如此快，来得如此迅猛。</span></p><p><span>张勇当初对于中国经济未来的判断，一直都是消费升级，我相信马云先生当初也是如此判断的，谁也没想到消费降级这个意外来得如此快。</span></p><p><span>抖音、快手等内容电商平台的兴起，同样也是赶上了短视频直播这个风口。疫情三年，让越来越多人开始沉迷于短视频，痴迷于直播。抖音、快手天生因为内容对于用户的吸引，借助足够的用户时长，从而让越来越多用户在平台上逐步养成了消费习惯。</span></p><p><span>但是淘宝、京东、拼多多等电商平台，因为电商的基因，却很难通过培养用户的内容兴趣，再去吸引用户消费。电商平台的基因也注定了，它们的短视频和直播也基本都是围绕着电商。</span></p><p><span>短视频直播这个内容风口，就注定了抖音、快手、视频号的内容电商时代，这是谁也难以阻挡的电商趋势。</span></p><p><strong><span>所以，今天淘宝的落寞，只是败给了时代。至于下一个电商时代，谁能把握？我想谁也给不了答案。</span></strong></p><p><em><span>文/刘旷公众号，ID：liukuang110，配图来自Canva可画</span></em></p></div></body></html>","source":"weixin_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta 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left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n时代造就淘宝，淘宝败给时代\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1054650051\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/3ec32a8ed3664db2bd5c9d2fcf3bc685);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">刘旷 </p>\n<p class=\"h-time\">2024-06-27 08:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><div><p><img src=\"https://static.tigerbbs.com/0ec60f2c377846a3945cee99c97ed44f\"/></p><p><span>今天的淘宝，看山不是山，看水不是水，境遇已大不相同。</span></p><p><span><a href=\"https://laohu8.com/S/GS\">高盛</a>报告显示，淘宝天猫的市场份额从2019年的66%，下降至2022年的44%左右，四年降幅1/3。2024年淘宝的市场份额还剩多少，很难说清楚，但是这两年，<a href=\"https://laohu8.com/S/PDD\">拼多多</a>和抖音的势头是越来越猛了，还有视频号、小红书、快手等一众内容平台在抢夺电商这块蛋糕。</span></p><p><span><strong>有人将淘宝的落寞归因于管理者的失策</strong></span></p><p><span>张勇毫无疑问成为了最大的买单者，毕竟事情没做好，最终总是需要人来承担。但是真的只是张勇的管理失策吗？如果要论管理者失策，难道马云没有责任？蔡崇信没有责任？</span></p><p><span>成者王侯败者寇，这话确实不假，但是要把事情的责任全部都推到人的身上，并不完全合乎情理，更何况张勇并非无能之辈。</span></p><p><span>其一，张勇能做到<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>整个集团董事长兼CEO的位置，并非是靠运气得来的，而是靠着自己一路厮杀所展现出来的能力。他还是“双十一”这个伟大狂欢购物节的缔造者，帮助阿里巴巴成功的实现了从PC端到移动互联网的变迁。</span></p><p><span>其二，马云识人的本事，放眼整个互联网，有几人能说自己比马云厉害？既然当初决定把整个阿里巴巴集团都交给张勇来打理，马云也是经过足够的深思熟虑后才做的决定，同时也说明了马云对张勇能力的充分认可！</span></p><p><span>既然张勇并非无能之辈，又是有功之臣，那把淘宝的落寞归因于张勇的管理失策，又是否妥当呢？</span></p><p><span>很明显，不妥当。</span></p><p><span><strong>有人将淘宝的落寞归因于下沉市场的失败</strong></span></p><p><span>一直主打下沉市场的拼多多，这几年发展确实很猛，尤其是今天拼多多的市值已经超越阿里巴巴，这让很多人都说淘宝因为下沉市场的失利，所以输给了拼多多。</span></p><p><span>事实上并非如此。</span></p><p><span>淘宝很早就有布局下沉市场，甚至早于拼多多，10年前淘宝村也曾风靡一时。2014 年，阿里提出“千县万村”计划，要在3-5年间投资100亿元、建立1000个县级运营中心和10万个村级服务站。</span></p><p><span>可以说，淘宝对于下沉市场的重视和投入不弱于任何一个电商平台，包括拼多多和<a href=\"https://laohu8.com/S/JD\">京东</a>。</span></p><p><span>当初的淘宝，不论是下沉市场和农村市场的商家还是用户规模，淘宝也是强于其他任何一个电商平台。</span></p><p><span>然而，淘宝在下沉市场确实失利了，但要将淘宝落寞的核心原因归因于下沉市场的失败，同样也是站不住脚的。</span></p><p><img src=\"https://static.tigerbbs.com/2c448de5e6b646d6b1acd2c08257ac03\"/></p><p><span><strong>有人将淘宝的落寞归因于内容电商的失落</strong></span></p><p><span>抖音、快手、小红书借助内容电商崛起，确实对整个电商格局产生了非常大的影响，尤其是今天的抖音，已经成长为中国电商的第四极。</span></p><p><span>事实上，淘宝在短视频、直播等内容电商的布局和投入，同样不弱于任何一家电商平台和任何一家短视频直播平台。</span></p><p><span>早在2016年4月，时任阿里CEO的张勇就将社区化、内容化定为淘宝未来的方向。之后，淘宝上线了直播频道、淘宝头条、问大家和淘宝社区等一些列内容专区。与此同时，淘宝也开始全面打造短视频，开始打造自己的短视频APP。</span></p><p><span>在直播方面的布局，淘宝就更早了。而最早在电商直播做出成果的当属淘宝直播了，薇娅、李佳琦等一众头部主播都诞生于淘宝直播。此后，才有了抖音电商直播、快手电商直播对淘宝直播的效仿。</span></p><p><span>今天的淘宝，在内容电商的投资和布局依然不弱于任何一家电商平台，淘宝并没有在内容电商败给其他电商平台。甚至可以这么说，淘宝电商直播比除抖音直播之外的所有电商直播都要做得好。</span></p><p><span><strong>淘宝，只是败给了时代</strong></span></p><p><span>正如那句名言：只有时代的马云，没有马云的时代。</span></p><p><strong><span>同样，也只有时代的淘宝，没有淘宝的时代。</span></strong></p><p><span>淘宝当初的崛起，恰恰是时代造就的产物，当初国内电商还是一片空白，淘宝凭借着对中国市场和商家更为熟悉，战胜了当时全球最大的电商网站<a href=\"https://laohu8.com/S/EBAY\">eBay</a>。</span></p><p><span>下沉市场的失利，只是因为淘宝不小心赶上了消费降级，拼多多的强势崛起同样也受益于消费降级这个大时代。谁也不曾预料到，今天的消费降级来得如此快，来得如此迅猛。</span></p><p><span>张勇当初对于中国经济未来的判断，一直都是消费升级，我相信马云先生当初也是如此判断的，谁也没想到消费降级这个意外来得如此快。</span></p><p><span>抖音、快手等内容电商平台的兴起，同样也是赶上了短视频直播这个风口。疫情三年，让越来越多人开始沉迷于短视频，痴迷于直播。抖音、快手天生因为内容对于用户的吸引，借助足够的用户时长，从而让越来越多用户在平台上逐步养成了消费习惯。</span></p><p><span>但是淘宝、京东、拼多多等电商平台，因为电商的基因，却很难通过培养用户的内容兴趣，再去吸引用户消费。电商平台的基因也注定了，它们的短视频和直播也基本都是围绕着电商。</span></p><p><span>短视频直播这个内容风口，就注定了抖音、快手、视频号的内容电商时代，这是谁也难以阻挡的电商趋势。</span></p><p><strong><span>所以，今天淘宝的落寞，只是败给了时代。至于下一个电商时代，谁能把握？我想谁也给不了答案。</span></strong></p><p><em><span>文/刘旷公众号，ID：liukuang110，配图来自Canva可画</span></em></p></div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89988":"阿里巴巴-SWR","BK1575":"同股不同权","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","BK1501":"阿里概念股","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) 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ACC","BK1502":"双十一"},"source_url":"http://mp.weixin.qq.com/s?__biz=MzAxNTM3MTUxOA==&mid=2650861493&idx=1&sn=2f935947dbe7e96c960291ccfb62ad68&chksm=81130e5337f23462f36a2a5e42b268c65d49f5872c9eb062291f9beed26e214e1a87e93cb955&scene=0#rd","is_english":false,"share_image_url":"https://static.laohu8.com/ecd74548980bc5b366aa8f4b37ed0bd5","article_id":"2446378482","content_text":"今天的淘宝，看山不是山，看水不是水，境遇已大不相同。高盛报告显示，淘宝天猫的市场份额从2019年的66%，下降至2022年的44%左右，四年降幅1/3。2024年淘宝的市场份额还剩多少，很难说清楚，但是这两年，拼多多和抖音的势头是越来越猛了，还有视频号、小红书、快手等一众内容平台在抢夺电商这块蛋糕。有人将淘宝的落寞归因于管理者的失策张勇毫无疑问成为了最大的买单者，毕竟事情没做好，最终总是需要人来承担。但是真的只是张勇的管理失策吗？如果要论管理者失策，难道马云没有责任？蔡崇信没有责任？成者王侯败者寇，这话确实不假，但是要把事情的责任全部都推到人的身上，并不完全合乎情理，更何况张勇并非无能之辈。其一，张勇能做到阿里巴巴整个集团董事长兼CEO的位置，并非是靠运气得来的，而是靠着自己一路厮杀所展现出来的能力。他还是“双十一”这个伟大狂欢购物节的缔造者，帮助阿里巴巴成功的实现了从PC端到移动互联网的变迁。其二，马云识人的本事，放眼整个互联网，有几人能说自己比马云厉害？既然当初决定把整个阿里巴巴集团都交给张勇来打理，马云也是经过足够的深思熟虑后才做的决定，同时也说明了马云对张勇能力的充分认可！既然张勇并非无能之辈，又是有功之臣，那把淘宝的落寞归因于张勇的管理失策，又是否妥当呢？很明显，不妥当。有人将淘宝的落寞归因于下沉市场的失败一直主打下沉市场的拼多多，这几年发展确实很猛，尤其是今天拼多多的市值已经超越阿里巴巴，这让很多人都说淘宝因为下沉市场的失利，所以输给了拼多多。事实上并非如此。淘宝很早就有布局下沉市场，甚至早于拼多多，10年前淘宝村也曾风靡一时。2014 年，阿里提出“千县万村”计划，要在3-5年间投资100亿元、建立1000个县级运营中心和10万个村级服务站。可以说，淘宝对于下沉市场的重视和投入不弱于任何一个电商平台，包括拼多多和京东。当初的淘宝，不论是下沉市场和农村市场的商家还是用户规模，淘宝也是强于其他任何一个电商平台。然而，淘宝在下沉市场确实失利了，但要将淘宝落寞的核心原因归因于下沉市场的失败，同样也是站不住脚的。有人将淘宝的落寞归因于内容电商的失落抖音、快手、小红书借助内容电商崛起，确实对整个电商格局产生了非常大的影响，尤其是今天的抖音，已经成长为中国电商的第四极。事实上，淘宝在短视频、直播等内容电商的布局和投入，同样不弱于任何一家电商平台和任何一家短视频直播平台。早在2016年4月，时任阿里CEO的张勇就将社区化、内容化定为淘宝未来的方向。之后，淘宝上线了直播频道、淘宝头条、问大家和淘宝社区等一些列内容专区。与此同时，淘宝也开始全面打造短视频，开始打造自己的短视频APP。在直播方面的布局，淘宝就更早了。而最早在电商直播做出成果的当属淘宝直播了，薇娅、李佳琦等一众头部主播都诞生于淘宝直播。此后，才有了抖音电商直播、快手电商直播对淘宝直播的效仿。今天的淘宝，在内容电商的投资和布局依然不弱于任何一家电商平台，淘宝并没有在内容电商败给其他电商平台。甚至可以这么说，淘宝电商直播比除抖音直播之外的所有电商直播都要做得好。淘宝，只是败给了时代正如那句名言：只有时代的马云，没有马云的时代。同样，也只有时代的淘宝，没有淘宝的时代。淘宝当初的崛起，恰恰是时代造就的产物，当初国内电商还是一片空白，淘宝凭借着对中国市场和商家更为熟悉，战胜了当时全球最大的电商网站eBay。下沉市场的失利，只是因为淘宝不小心赶上了消费降级，拼多多的强势崛起同样也受益于消费降级这个大时代。谁也不曾预料到，今天的消费降级来得如此快，来得如此迅猛。张勇当初对于中国经济未来的判断，一直都是消费升级，我相信马云先生当初也是如此判断的，谁也没想到消费降级这个意外来得如此快。抖音、快手等内容电商平台的兴起，同样也是赶上了短视频直播这个风口。疫情三年，让越来越多人开始沉迷于短视频，痴迷于直播。抖音、快手天生因为内容对于用户的吸引，借助足够的用户时长，从而让越来越多用户在平台上逐步养成了消费习惯。但是淘宝、京东、拼多多等电商平台，因为电商的基因，却很难通过培养用户的内容兴趣，再去吸引用户消费。电商平台的基因也注定了，它们的短视频和直播也基本都是围绕着电商。短视频直播这个内容风口，就注定了抖音、快手、视频号的内容电商时代，这是谁也难以阻挡的电商趋势。所以，今天淘宝的落寞，只是败给了时代。至于下一个电商时代，谁能把握？我想谁也给不了答案。文/刘旷公众号，ID：liukuang110，配图来自Canva可画","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":311484365594856,"gmtCreate":1717072035087,"gmtModify":1717072037239,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"T86问题就这一没底线的公司搞出来的，一人错整个行业买单","listText":"T86问题就这一没底线的公司搞出来的，一人错整个行业买单","text":"T86问题就这一没底线的公司搞出来的，一人错整个行业买单","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/311484365594856","repostId":"2439966083","repostType":2,"repost":{"id":"2439966083","pubTimestamp":1717061712,"share":"https://www.laohu8.com/m/news/2439966083?lang=&edition=full","pubTime":"2024-05-30 17:35","market":"us","language":"zh","title":"拼多多在海外杀疯了","url":"https://stock-news.laohu8.com/highlight/detail?id=2439966083","media":"华尔街见闻","summary":"TEMU盈利在望.","content":"<html><head></head><body><blockquote><p>TEMU盈利在望</p></blockquote><p>九年前，没有人会相信，<a href=\"https://laohu8.com/S/PDD\">拼多多</a>这样一个以“低价”为标签的后来者，有朝一日能成为老大哥<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>的最大竞争对手。</p><p>然而，时代巨变、兴衰交替，业绩增长持续超预期，以及跨境电商业务TEMU带来的广阔市场潜力，让拼多多得到市场青睐，与阿里巴巴争夺起电商市值一哥的宝座。</p><p>拼多多希望借着TEMU，在海外“再造一个拼多多”。TEMU也在海外掀起腥风血雨，从全托管到半托管，TEMU给自己定下颇为激进的增长目标，要从“中国跨境电商四小龙”当中胜出，成为全球跨境电商当中的数一数二的存在。</p><p>今年一季度，以TEMU为主要驱动力的交易服务收入，首次赶超在线营销业务成为拼多多最大的收入来源。多家券商认为TEMU亏损已经大幅收窄，甚至接近盈亏平衡。</p><p>虽然跨境电商行业已经走过了最初的野蛮生长阶段，但竞争依然激烈。接下来，TEMU也会面临外部更多挑战。它需要走稳每一步，不断优化运营模式，才能复制拼多多国内后来居上的剧本。</p><p>这一路并不会太轻松。 </p><p><strong>激增</strong></p><p>国内电商行业增量见顶的情况下， TEMU是拼多多寻求新增长点的破局之道。它也是被外界视作可以再造一个拼多多的存在。 </p><p>在2022年9月，TEMU像鲶鱼一样冲进跨境电商这片蓝海，依靠低价策略和首创的“全托管模式”，火速在2023年扩张到全球 48个国家和地区，跻身全球应用下载量前十名，更成为美国下载量最高的应用之一。</p><p>今年以来，TEMU继续火力全开，进入了更多国家和地区。据华尔街见闻统计，截至目前，TEMU已开设约68个站点, 实现了覆盖所有大洲，其中欧洲站点数量最多，体量上则是美国市场最大。</p><p>拼多多最新发布财报显示，其一季度营收同比增长131%至868.1亿元，其中TEMU为主要驱动力的交易服务收入大幅增长327%至443.6亿美元，首次赶超在线营销业务成为拼多多最大的收入来源。</p><p>去年以来，TEMU快速扩张的主要因素之一，就是因为其放弃了拼多多在国内使用的平台模式，转向全托管模式。该模式极大降低了跨境商家的出海门槛，由平台提供店铺运营、仓储物流、售后服务等一站式服务，卖家只充当着“供货商”的角色。</p><p>“全托管”让TEMU取得了第一阶段的胜利，也让全托管成为了各大跨境电商平台的“标配”。</p><p>在TEMU带来的高增长前景下，一季度财报发布后，拼多多美股盘前涨幅一度超13%，报158.46美元/股。截至5月30日，拼多多市值也再度超越阿里巴巴。</p><p>一直到现在，拼多多官方都未对外公开披露过TEMU的具体GMV，但拼多多野心不小。 </p><p><a href=\"https://laohu8.com/S/002736\">国信证券</a>测算，TEMU一季度GMV超过130亿美元，按58%计入收入，贡献约353亿人民币收入。从今年全年的GMV来看，浦银国际预计TEMU全年GMV或超400亿美元，<a href=\"https://laohu8.com/S/03329\">交银国际</a>则预测将增长200%以上达到500亿美元。</p><p>有多位消息人士透露，TEMU自身还有一个更激进的GMV目标，那就是高达600亿美元，这一数字是去年约180亿美元年销售额的3.33倍。</p><p>另据Sensortower数据,截至2024年4月，TEMU MAU到1.9亿人，已经超过了SHEIN的1.7亿人。</p><p>随着规模的进一步扩大，以及半托管模式在今年初上线，让TEMU盈利在望。</p><p>浦银国际研报指出，TEMU高速增长，预计2025年扭亏，全年交易服务收入将同比增长357%，测算其中约8成来自TEMU业务。交银国际则预测，TEMU今年有望在美国，率先实现盈利。 </p><p><strong>战火</strong></p><p>跨境电商市场的战火又燃起来了。去年TEMU带头推出全托管，快速搅动着这片市场，如今，它又很快地跟进友商的动作，推出半托管模式。</p><p>以启动“半托管”为标志，TEMU希望在规模上更进一步。</p><p>接近TEMU人士告诉华尔街见闻，这是为了更好地适应商家的成长变化，给予商家更多的灵活性和主动性，产品类目涵盖服装首饰、家具家居、美妆个护、户外运动、工业设备等。</p><p>“半托管”今年已成为各大跨境电商平台的新战场，不过，此番率先打响半托管发令枪的不再是TEMU，而是去年相对低调的老大哥速卖通。</p><p>紧跟速卖通之后，TEMU在今年元旦之后开启半托管商家招募，到3月中旬在美国正式上线，短短两个月，已经开通了美国、加拿大、英国、德国、意大利、法国、西班牙、澳大利亚、新西兰等9大站点。据悉，全球站点正在加速开放中。</p><p>TEMU半托管和全托管模式的区别主要体现在仓储物流上，针对其他繁琐环节的平台服务，例如网站引流、店铺运营、客户服务、知产法务等，目前并没有区别。半托管模式更适合在跨境电商领域发展相对成熟、拥有自己的仓库物流合作商的跨境商家。</p><p>据华尔街见闻了解，与TEMU还掌控着店铺运营、商品定价不同，速卖通的半托管模式，是平台只负责仓储物流、售后服务环节，店铺运营和定价则由商家自己负责。</p><p>接近TEMU人士透露，半托管模式可以让TEMU在保持质价比的同时实现更快的速度。而未来，如果商家的自身能力越来越强，TEMU或许将给予商家更大的空间与自由。</p><p>另有业内人士对华尔街见闻指出，2024，“半托管”或将弯道超车，成为跨境玩家们竞争的关键所在。</p><p>对于TEMU加入“半托管”,资本市场也普遍是看好的态度。</p><p>多家券商机构指出，TMEU半托管可以带动大货占比提升，从而提升客单价，叠加降低单均物流费用，能够在提高用户体验的同时，优化其单位经济模型，从而提高盈利能力和市场竞争力，有望带动TEMU业务整体亏损显著改善，并较早实现盈利上岸。 </p><p>不过，如今TEMU的收益主要来自终端销售价与商家结算之间的差价。为了吸引商家，目前无论是半托管还是全托管，TMUE均不收取佣金。 </p><p>与此同时，走过野蛮生长的第一阶段，TEMU也需要更重视提升用户体验，在售价上还不能有大调整的同时，要更重视通过提供更高效的物流服务和更优质的商品，来提升用户满意度和忠诚度。</p><p>显然，在跨境电商业务上，TEMU把拼多多在国内攻城略地的那一套玩法又如法炮制了一番。 </p><p>不过跨境电商战场战况愈发激烈，TEMU要在新的市场做大并不容易。</p><p>壹玖钧泽网络科技有限公司总经理高燕对华尔街见闻表示，今年以来，作为跨境商家，其最深的感受就是中国跨境电商平台间的竞争将呈现多元化和激烈化的特点，包括专业度、产品力、品牌力和创新力的综合比拼。</p><p>在此背景下，各大跨境电商平台在保持其既有优势和基因的的同时，应更加注重差异化竞争优势的建立，提升用户体验，加强技术创新。</p><p>此外，Tiktok在美国的境遇也警示着TEMU，它需要预防海外市场的政策风险。一季度以来，TEMU加速在中东、欧洲、拉美等地区的业务拓展，以降低美国地区占比过高的潜在政策风险。</p><p>拼多多能够在国内快速崛起，是天时、地利、人和共同作用之下的结果，如今其出海似乎又再一次占据了这些有利因素，但这一战场更加复杂。</p><p>要成为中国跨境电商中的赢家，甚至改写全球电商格局，拼多多任重而道远。</p></body></html>","source":"wallstreetcn_hot_news","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n拼多多在海外杀疯了\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-30 17:35 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3716117><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TEMU盈利在望九年前，没有人会相信，拼多多这样一个以“低价”为标签的后来者，有朝一日能成为老大哥阿里巴巴的最大竞争对手。然而，时代巨变、兴衰交替，业绩增长持续超预期，以及跨境电商业务TEMU带来的广阔市场潜力，让拼多多得到市场青睐，与阿里巴巴争夺起电商市值一哥的宝座。拼多多希望借着TEMU，在海外“再造一个拼多多”。TEMU也在海外掀起腥风血雨，从全托管到半托管，TEMU给自己定下颇为激进的增长...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3716117\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba4d763daca18f6fd7e6deb2082f40d4","relate_stocks":{"LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU0823426308.USD":"法巴中国股票基金","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) 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INC","LU1720050803.USD":"安联全方位中国股票基金","BK4122":"互联网与直销零售","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC"},"source_url":"https://wallstreetcn.com/articles/3716117","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2439966083","content_text":"TEMU盈利在望九年前，没有人会相信，拼多多这样一个以“低价”为标签的后来者，有朝一日能成为老大哥阿里巴巴的最大竞争对手。然而，时代巨变、兴衰交替，业绩增长持续超预期，以及跨境电商业务TEMU带来的广阔市场潜力，让拼多多得到市场青睐，与阿里巴巴争夺起电商市值一哥的宝座。拼多多希望借着TEMU，在海外“再造一个拼多多”。TEMU也在海外掀起腥风血雨，从全托管到半托管，TEMU给自己定下颇为激进的增长目标，要从“中国跨境电商四小龙”当中胜出，成为全球跨境电商当中的数一数二的存在。今年一季度，以TEMU为主要驱动力的交易服务收入，首次赶超在线营销业务成为拼多多最大的收入来源。多家券商认为TEMU亏损已经大幅收窄，甚至接近盈亏平衡。虽然跨境电商行业已经走过了最初的野蛮生长阶段，但竞争依然激烈。接下来，TEMU也会面临外部更多挑战。它需要走稳每一步，不断优化运营模式，才能复制拼多多国内后来居上的剧本。这一路并不会太轻松。 激增国内电商行业增量见顶的情况下， TEMU是拼多多寻求新增长点的破局之道。它也是被外界视作可以再造一个拼多多的存在。 在2022年9月，TEMU像鲶鱼一样冲进跨境电商这片蓝海，依靠低价策略和首创的“全托管模式”，火速在2023年扩张到全球 48个国家和地区，跻身全球应用下载量前十名，更成为美国下载量最高的应用之一。今年以来，TEMU继续火力全开，进入了更多国家和地区。据华尔街见闻统计，截至目前，TEMU已开设约68个站点, 实现了覆盖所有大洲，其中欧洲站点数量最多，体量上则是美国市场最大。拼多多最新发布财报显示，其一季度营收同比增长131%至868.1亿元，其中TEMU为主要驱动力的交易服务收入大幅增长327%至443.6亿美元，首次赶超在线营销业务成为拼多多最大的收入来源。去年以来，TEMU快速扩张的主要因素之一，就是因为其放弃了拼多多在国内使用的平台模式，转向全托管模式。该模式极大降低了跨境商家的出海门槛，由平台提供店铺运营、仓储物流、售后服务等一站式服务，卖家只充当着“供货商”的角色。“全托管”让TEMU取得了第一阶段的胜利，也让全托管成为了各大跨境电商平台的“标配”。在TEMU带来的高增长前景下，一季度财报发布后，拼多多美股盘前涨幅一度超13%，报158.46美元/股。截至5月30日，拼多多市值也再度超越阿里巴巴。一直到现在，拼多多官方都未对外公开披露过TEMU的具体GMV，但拼多多野心不小。 国信证券测算，TEMU一季度GMV超过130亿美元，按58%计入收入，贡献约353亿人民币收入。从今年全年的GMV来看，浦银国际预计TEMU全年GMV或超400亿美元，交银国际则预测将增长200%以上达到500亿美元。有多位消息人士透露，TEMU自身还有一个更激进的GMV目标，那就是高达600亿美元，这一数字是去年约180亿美元年销售额的3.33倍。另据Sensortower数据,截至2024年4月，TEMU MAU到1.9亿人，已经超过了SHEIN的1.7亿人。随着规模的进一步扩大，以及半托管模式在今年初上线，让TEMU盈利在望。浦银国际研报指出，TEMU高速增长，预计2025年扭亏，全年交易服务收入将同比增长357%，测算其中约8成来自TEMU业务。交银国际则预测，TEMU今年有望在美国，率先实现盈利。 战火跨境电商市场的战火又燃起来了。去年TEMU带头推出全托管，快速搅动着这片市场，如今，它又很快地跟进友商的动作，推出半托管模式。以启动“半托管”为标志，TEMU希望在规模上更进一步。接近TEMU人士告诉华尔街见闻，这是为了更好地适应商家的成长变化，给予商家更多的灵活性和主动性，产品类目涵盖服装首饰、家具家居、美妆个护、户外运动、工业设备等。“半托管”今年已成为各大跨境电商平台的新战场，不过，此番率先打响半托管发令枪的不再是TEMU，而是去年相对低调的老大哥速卖通。紧跟速卖通之后，TEMU在今年元旦之后开启半托管商家招募，到3月中旬在美国正式上线，短短两个月，已经开通了美国、加拿大、英国、德国、意大利、法国、西班牙、澳大利亚、新西兰等9大站点。据悉，全球站点正在加速开放中。TEMU半托管和全托管模式的区别主要体现在仓储物流上，针对其他繁琐环节的平台服务，例如网站引流、店铺运营、客户服务、知产法务等，目前并没有区别。半托管模式更适合在跨境电商领域发展相对成熟、拥有自己的仓库物流合作商的跨境商家。据华尔街见闻了解，与TEMU还掌控着店铺运营、商品定价不同，速卖通的半托管模式，是平台只负责仓储物流、售后服务环节，店铺运营和定价则由商家自己负责。接近TEMU人士透露，半托管模式可以让TEMU在保持质价比的同时实现更快的速度。而未来，如果商家的自身能力越来越强，TEMU或许将给予商家更大的空间与自由。另有业内人士对华尔街见闻指出，2024，“半托管”或将弯道超车，成为跨境玩家们竞争的关键所在。对于TEMU加入“半托管”,资本市场也普遍是看好的态度。多家券商机构指出，TMEU半托管可以带动大货占比提升，从而提升客单价，叠加降低单均物流费用，能够在提高用户体验的同时，优化其单位经济模型，从而提高盈利能力和市场竞争力，有望带动TEMU业务整体亏损显著改善，并较早实现盈利上岸。 不过，如今TEMU的收益主要来自终端销售价与商家结算之间的差价。为了吸引商家，目前无论是半托管还是全托管，TMUE均不收取佣金。 与此同时，走过野蛮生长的第一阶段，TEMU也需要更重视提升用户体验，在售价上还不能有大调整的同时，要更重视通过提供更高效的物流服务和更优质的商品，来提升用户满意度和忠诚度。显然，在跨境电商业务上，TEMU把拼多多在国内攻城略地的那一套玩法又如法炮制了一番。 不过跨境电商战场战况愈发激烈，TEMU要在新的市场做大并不容易。壹玖钧泽网络科技有限公司总经理高燕对华尔街见闻表示，今年以来，作为跨境商家，其最深的感受就是中国跨境电商平台间的竞争将呈现多元化和激烈化的特点，包括专业度、产品力、品牌力和创新力的综合比拼。在此背景下，各大跨境电商平台在保持其既有优势和基因的的同时，应更加注重差异化竞争优势的建立，提升用户体验，加强技术创新。此外，Tiktok在美国的境遇也警示着TEMU，它需要预防海外市场的政策风险。一季度以来，TEMU加速在中东、欧洲、拉美等地区的业务拓展，以降低美国地区占比过高的潜在政策风险。拼多多能够在国内快速崛起，是天时、地利、人和共同作用之下的结果，如今其出海似乎又再一次占据了这些有利因素，但这一战场更加复杂。要成为中国跨境电商中的赢家，甚至改写全球电商格局，拼多多任重而道远。","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":308183899037992,"gmtCreate":1716262051136,"gmtModify":1716262052867,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"都不打个正眼看","listText":"都不打个正眼看","text":"都不打个正眼看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/308183899037992","repostId":"2436129423","repostType":2,"repost":{"id":"2436129423","pubTimestamp":1716192360,"share":"https://www.laohu8.com/m/news/2436129423?lang=&edition=full","pubTime":"2024-05-20 16:06","market":"us","language":"zh","title":"字节大模型大降价，百度、阿里能否抗住？","url":"https://stock-news.laohu8.com/highlight/detail?id=2436129423","media":"澎湃新闻","summary":"一年前，字节跳动就完成了自主研发大模型，豆包大模型原名云雀，是国内首批通过算法备案的大模型之一，在内部亲切的称呼它为豆包。打响价格战如何快速抢占国内市场，谭待在发布会首次对外阐述了字节跳动在大模型的战略布局。在此次发布会，字节跳动还发布新一代AI应用搭建平台扣子，连接大模型和用户场景的扣子，无论用户是否有编程基础，都可以在扣子上快速搭建基于大模型的各类Bot，并","content":"<div>\n<p>作者|谢涵编辑|陈秋运营|陈小妍另镜(ID:DMS-012)去年3月在OpenAI推出GPT-4一天后，国内众多头部企业华为、百度、阿里、腾讯、科大讯飞、商汤等科技企业纷纷快速布局AI大模型赛道，而备受外界期待的字节跳动AI大模型业务却迟迟未向外界公布具体战略。时隔一年多，字节跳动终于对外宣布，5月15日上午，字节跳动旗下云服务平台火山引擎在北京举办了声势浩大的发布会，火山引擎总裁谭待在发布会上...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b\">Web Link</a>\n\n</div>\n","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta 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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b><strong>澎湃新闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者|谢涵编辑|陈秋运营|陈小妍另镜(ID:DMS-012)去年3月在OpenAI推出GPT-4一天后，国内众多头部企业华为、百度、阿里、腾讯、科大讯飞、商汤等科技企业纷纷快速布局AI大模型赛道，而备受外界期待的字节跳动AI大模型业务却迟迟未向外界公布具体战略。时隔一年多，字节跳动终于对外宣布，5月15日上午，字节跳动旗下云服务平台火山引擎在北京举办了声势浩大的发布会，火山引擎总裁谭待在发布会上...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89888":"百度集团-SWR","89988":"阿里巴巴-SWR","BABA":"阿里巴巴","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","09988":"阿里巴巴-SW","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS 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SGD"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240520160825877d2c49&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2436129423","content_text":"作者|谢涵编辑|陈秋运营|陈小妍另镜(ID:DMS-012)去年3月在OpenAI推出GPT-4一天后，国内众多头部企业华为、百度、阿里、腾讯、科大讯飞、商汤等科技企业纷纷快速布局AI大模型赛道，而备受外界期待的字节跳动AI大模型业务却迟迟未向外界公布具体战略。时隔一年多，字节跳动终于对外宣布，5月15日上午，字节跳动旗下云服务平台火山引擎在北京举办了声势浩大的发布会，火山引擎总裁谭待在发布会上正式宣布，字节跳动自研豆包大模型对外提供服务。据火山引擎总裁谭待介绍，经过一年时间的迭代和市场验证，豆包大模型正成为国内使用量最大、应用场景最丰富的大模型之一，目前日均处理1200亿Tokens文本，生成3000万张图片。根据在发布会披露数据，豆包用户规模在快速增长，月活用户数已达2600万，被创建智能体达800多万个。在定价方面，对比国内外目前最新的32K主力模型，GPT4价格约为0.42元/千Tokens，百度文心一言和阿里最新的通义千问2.5价格均接近0.12元/千Tokens，而豆包通用模型pro-32k版模型推理输入价格仅为0.0008元/千Tokens，比行业低99.3%。在长文本方面，目前阿里和百度还没有跟进长文本128k，GPT4-Turbo价格约为7分钱/千Tokens，豆包通用模型Pro-128K模型定价为0.005元/千Tokens，比行业低95.8%。这是什么概念？《三国演义》很多人都读过，一共有75万字，根据火山引擎公布的价格计算，一元钱就能买到豆包主力模型的125万Tokens，大约是200万个汉字，意味着只需要1块钱就能处理3本《三国演义》的文字量。谈及低价策略，在发布会当天下午的群访中，火山引擎总裁谭待向另镜等媒体解释，“我们做这个定价，是我们对技术还是有信心的，这是最关键的，而不是我们拿亏损来做这件事情，亏损是接受不了的。”我们在技术上有优化成本的手段，比如分布式推理、混合调度等，未来能持续以此价格服务行业，亏损换收入不可持续，我们不会这么做。能力最强的主力模型定价都比行业低，简单来说，是因为我们能做，也需要这么做。做应用一定要生态繁荣，市场面临非常多的不确定性，试错成本要降得非常低，才能够让大家广泛地用起来，不管是大的企业还是说开发的个人，都能用起来，所以市场的呼声就是说我们需要更低成本的核心。谭待称，随着大模型技术的不断发展，企业与开发者都在积极投身大模型，各类场景蓄势待发。今年大模型能力提升，应用是很重要的环节，我们判断，在未来一年，大模型将在越来越多的企业场景从POC阶段走到真实的生产系统。一年前，字节跳动就完成了自主研发大模型，豆包大模型原名云雀，是国内首批通过算法备案的大模型之一，在内部亲切的称呼它为豆包。在过去一年里，字节内部50多个业务已经大量使用豆包进行AI创新，包括抖音、头条、番茄小说等多个产品。同时火山引擎也以邀测的方式，和不同行业的头部客户对基于豆包大模型进行深度共创，包括手机、汽车、金融、消费、互娱等等领域。打响价格战如何快速抢占国内市场，谭待在发布会首次对外阐述了字节跳动在大模型的战略布局。一是，此次节跳动自研豆包大模型，提供的是一个有多模态能力的模型家族，目前主要包括通用模型pro、通用模型lite、语音识别模型、语音合成模型、文生图模型等九款模型。其中通用大模型支持128k长文本，也包含轻量级大模型以及当下非常火的文生图等垂类大模型。由此可见，虽然对外宣布比较晚，但低价策略和矩阵打法足以撼动行业格局。二是，在市场定位方面，字节跳动抛出一张王炸牌，那就是卷起行业价格战，价格定位方面不只比国外GPT4价格低很多，比百度文心一言和阿里通义千问都低很多。“大的使用量，才能打磨出好模型，也能大幅降低模型推理的单位成本。豆包主力模型在企业市场的定价只有0.0008元/千Tokens，0.8厘就能处理1500多个汉字，比行业便宜99.3%，”谭待表示，大模型从以分计价到以厘计价，将助力企业以更低成本加速业务创新。谭待认为，降低成本是推动大模型快进到“价值创造阶段”的一个关键因素。豆包大模型的定价大幅低于行业价格：以豆包通用模型pro-32k版为例，模型推理输入价格仅为0.0008元/千Tokens。而市面上同规格模型的定价一般为0.12元/千Tokens，是豆包模型价格的150倍。三是，依托内部50多个业务线和前期大模型进行深度共创，字节大模型在从早期预训练战场中，快速转战场景融合和商业化阶段。发布会当天，火山引擎联合中国电动汽车百人会，与吉利汽车、长城汽车、捷途汽车、赛力斯、智己汽车等20余家厂商，宣布成立汽车大模型生态联盟，致力于为消费者带来汽车全场景AI新体验。同时，火山引擎与OPPO、vivo、荣耀、小米、三星、华硕宣布成立智能终端大模型联盟。OPPO小布助手、荣耀智慧办公智能助手、小米“小爱同学”，以及华硕笔记本电脑的豆叮AI助手等应用，均已接入火山引擎的大模型服务背后技术路线目前，豆包大模型已经在智能终端、汽车、金融、社交互娱、在线教育、电商零售、科研、企业服务和法律行业九大领域实践。不同行业的数据和垂类模型有很大的区别，背后大模型的技术难度可想而知。火山引擎副总裁、字节跳动开源委员会负责人张鑫指出，大模型的出现，让AI从“快思考”进入到“慢思考”阶段，并带来了使用方式从图形界面到自然语言，开发方式从写代码到写提示词/图，研发范式从“碎片化”到“大一统”，效率体验从Copilot到Agent的四大变革。然而，面对变革所带来的新发展机遇，企业在数据驱动的大模型商业应用落地时，却面临着交互不擅长深度推理、知识不可溯源、实时更新代价高等挑战。面对上述新的挑战，火山引擎提出了四大破局方案。张鑫分享表示，首先是做好提示词工程最佳实践，掌握这一最高杠杆的技能；其次是从知识库构建和检索两大角度入手，建设企业大脑，做好检索增强生成（RAG）；再次是依托知识图谱能力对大模型进行增强，实现知识与数据的双轮驱动；最后是通过prompt优化、知识增强、调用插件、循环迭代等手段，完善任务拆解的大模型工程化。张鑫指出，火山引擎基于四大破局方案，通过沉淀最佳实践，推出一站式大模型服务平台火山方舟，以及面向业务人员的企业专属AI应用创新平台HiAgent，全面助力企业实现大模型破局的标准化、敏捷化与自动化。谭待表示，火山引擎致力于成为AI时代最开放和领先的云服务平台。全新升级的火山方舟2.0不仅提供了抖音、今日头条的搜索和内容插件等丰富的生态资源，还有着充沛的算力资源和极致弹性，保障客户的业务稳定。火山引擎算法团队也将为豆包大模型的企业客户提供支持，分享模型调优和数据处理的实践经验，与企业客户共同探索AI转型的智能未来。2023年6月，大模型服务平台火山方舟正式发布。平台提供模型精调、推理、评测等全方位功能与服务，提供丰富的插件生态和AI应用开发服务，并通过安全可信方案，专业的算法技术服务，全方位保障企业级Al应用落地。火山方舟2.0，大幅提升模型效果、核心插件、系统性能及平台体验，帮助企业推进大模型的价值创造。在此次发布会，字节跳动还发布新一代AI应用搭建平台扣子，连接大模型和用户场景的扣子，无论用户是否有编程基础，都可以在扣子上快速搭建基于大模型的各类Bot，并将Bot发布到各个社交平台、通讯软件或部署到网站等其他渠道。目前，扣子专业版已集成在火山引擎的大模型服务平台“火山方舟”上，提供企业级SLA和高级特性。招商银行、海底捞火锅、超级猩猩、猎聘等企业，已在扣子上搭建了智能体。除此之外，本次发布会上，火山方舟还重点提到了，2.0产品对插件生态的进一步丰富，更新后的平台将会上线三个凝结了字节跳动内部强项能力的插件——联网插件、内容插件以及RAG知识库插件。总结近期，海外大模型密集迭代，5月14日凌晨，OpenAI在首次“春季新品发布会”上，发布了最新一代旗舰大模型GPT-4o，与之前只能打文字相比，变得更智能，可横跨语音、文本和视觉，超低时延的语音助手和翻译，并且可以感知人类情绪。而更让业界震惊的是，它居然免费，付费则可以获得五倍的使用容量。在价格方面，GPT-4o的价格是GPT-4-turbo的一半，速度却是GPT-4-turbo的两倍，速率限制也高5倍。时隔仅一天，5月15日凌晨，谷歌召开2024 I / O开发者大会，堪称对OpenAI全面反击，其中，包括Gemini 1.5 Pro正式开放给订阅了Geminni Advance的用户，上下文窗口拓展到200万token，推出开源模型Gemma2.0、文生图像模型Imagen3、视频生成对标Sora模型Veo等。而在国内更是硝烟四起，各大互联网科技企业都在加速迭代大模型版本，同时寻求商业化变现之路。字节发布自研豆包大模型，这也意味着国内大模型竞争初步竞争格局已基本形成。豆包大模型在设计上更倾向拟人化、离用户近和个性化，一大特点是能直接从抖音里搜到短视频解答比较具象的问题。而未来，个性化设计、系统承载力、模型训练能力、多模态效果和推理成本会成为每个企业需要不断跨越难点。目前国内大模型市场环境还处于初步阶段，都在极力拓展外部客户，很多客户都还处于同时与多家企业合作和接触阶段，在早期，互联网公司由于具有技术的积累和流量生态的优势，会更容易被外界关注，但最终哪家能领跑商业化变现之路，还是需要真正能解决客户需求的能力。2024年国内大模型逐渐转变为针对产业落地的行业大模型比拼，在模型框架、开发者工具、基础大模型、部署和推理工具等维度上会呈现开源和闭源共存。随着手机和汽车厂商陆续发布支持端侧AI推理的芯片或模型，AI落地端侧也成为重要布局。值得注意的是，2月份，抖音前CEO张楠从抖音转岗剪映，着手推出一个新的AI生图和视频产品。5月初，张楠交出了自己转岗后的首份作业——支持图片和视频生成的即梦AI，但目前官网显示仍处于内测阶段。初阶版视频生成能力，非会员仅支持生成3秒内容。谭待在此次发布会上坦言，企业要真正做好大模型的落地并不是一件容易的事情，有三个非常关键的挑战：第一，是模型效果，必须要有好的基础大模型才能够解决复杂的问题。第二是推理的成本，只有非常非常低的成本服务，才能够让大模型广泛的应用起来。第三是落地难度，需要有更多的工具、更多的插件、更多的平台和应用，来帮助企业在更多的场景里面非常容易地去做好大模型场景落地。","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":306701255319728,"gmtCreate":1715912897526,"gmtModify":1715912899099,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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10:31","market":"hk","language":"zh","title":"中国人工智能发明专利TOP10企业：腾讯第一 华为第五","url":"https://stock-news.laohu8.com/highlight/detail?id=2429675979","media":"手机中国","summary":"4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。平安集团以13139件专利位列第三，国家电网则以11567件专利排在第四。华为以5966件专利名列第五，而蚂蚁集团和阿里巴巴分别以4381件和4103件专利占据第六和第七的位置。京东集团和OPPO分别以3815件和3743件专利位列第八和第九，中国移动则以3709件专利跻身前十。","content":"<html><body><article><p>4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。引人瞩目的是，<a href=\"https://laohu8.com/S/00700\">腾讯</a>、<a href=\"https://laohu8.com/S/BIDU\">百度</a>、平安、国家电网、华为、<a href=\"https://laohu8.com/S/06688\">蚂蚁集团</a>、<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、京东集团、OPPO、<a href=\"https://laohu8.com/S/CHL\">中国移动</a>等企业脱颖而出，跻身前十强。</p><p>具体来看，腾讯以15626件专利位居第一，百度紧随其后，拥有13723件专利。平安集团以13139件专利位列第三，国家电网则以11567件专利排在第四。华为以5966件专利名列第五，而蚂蚁集团和阿里巴巴分别以4381件和4103件专利占据第六和第七的位置。京东集团和OPPO分别以3815件和3743件专利位列第八和第九，<a href=\"https://laohu8.com/S/600941\">中国移动</a>则以3709件专利跻身前十。</p><p>此前，腾讯公司董事会主席兼首席执行官马化腾深入回顾了过去一年腾讯旗下各项业务的发展，并展望了未来的战略规划。在长达35分钟的分享中，马化腾特别强调了AI的重要性，他指出：“AI无疑是去年乃至全行业的焦点，腾讯在这一领域也取得了显著的进步，虽然不能说最领先，但至少没有落后太多。”</p><img src=\"https://inews.gtimg.com/om_bt/OmYE-RYiuhLGBvffPnMVH-Fb-vlrdNIRi097aVpCjCSsgAA/0\"/><p>此外，马化腾指出，接下来，我们要将AI混元大模型与我们的实际场景紧密结合，深度融合到各项业务中。我认为，短期内纯原生的AI应用可能还不会出现，更多的是通过提升我们现有产品的效率来发挥作用，这无疑是一个巨大的机遇。”</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>中国人工智能发明专利TOP10企业：腾讯第一 华为第五</title>\n<style 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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240422103248879f01bc&s=b><strong>手机中国</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。引人瞩目的是，腾讯、百度、平安、国家电网、华为、蚂蚁集团、阿里巴巴、京东集团、OPPO、中国移动等企业脱颖而出，跻身前十强。具体来看，腾讯以15626件专利位居第一，百度紧随其后，拥有13723件专利。平安集团以13139件专利位列第三，国家电网则以11567件...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240422103248879f01bc&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"80700":"腾讯控股-R","80941":"中国移动-R","89618":"京东集团-SWR","89888":"百度集团-SWR","89988":"阿里巴巴-SWR","600941":"中国移动","09618":"京东集团-SW","LU0140636845.USD":"施罗德大中华区股票A Acc","IE00BF5LJ272.USD":"Legg Mason Martin Currie - Global Emerging Markets A Acc USD","LU0320764755.SGD":"FTIF - Templeton Asian Growth A Acc SGD","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) 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ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20240422103248879f01bc&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2429675979","content_text":"4月22日，中国权威专利媒体IPRdaily发布了一份中国人工智能发明专利企业排行榜，榜单汇集了近十年在中国申请并公开的人工智能发明专利。引人瞩目的是，腾讯、百度、平安、国家电网、华为、蚂蚁集团、阿里巴巴、京东集团、OPPO、中国移动等企业脱颖而出，跻身前十强。具体来看，腾讯以15626件专利位居第一，百度紧随其后，拥有13723件专利。平安集团以13139件专利位列第三，国家电网则以11567件专利排在第四。华为以5966件专利名列第五，而蚂蚁集团和阿里巴巴分别以4381件和4103件专利占据第六和第七的位置。京东集团和OPPO分别以3815件和3743件专利位列第八和第九，中国移动则以3709件专利跻身前十。此前，腾讯公司董事会主席兼首席执行官马化腾深入回顾了过去一年腾讯旗下各项业务的发展，并展望了未来的战略规划。在长达35分钟的分享中，马化腾特别强调了AI的重要性，他指出：“AI无疑是去年乃至全行业的焦点，腾讯在这一领域也取得了显著的进步，虽然不能说最领先，但至少没有落后太多。”此外，马化腾指出，接下来，我们要将AI混元大模型与我们的实际场景紧密结合，深度融合到各项业务中。我认为，短期内纯原生的AI应用可能还不会出现，更多的是通过提升我们现有产品的效率来发挥作用，这无疑是一个巨大的机遇。”","news_type":1},"isVote":1,"tweetType":1,"viewCount":429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":294339402186968,"gmtCreate":1712883373385,"gmtModify":1712883375078,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/09988\">$(09988)$&nbsp;</a><v-v data-views=\"1\"></v-v> AI 加云，带动新业务发展，淘宝天猫在品牌心智这一板是很有护城河的，也是利润的来源。C店比低价，天猫能撑起利润。","listText":"<a href=\"https://laohu8.com/S/09988\">$(09988)$&nbsp;</a><v-v data-views=\"1\"></v-v> AI 加云，带动新业务发展，淘宝天猫在品牌心智这一板是很有护城河的，也是利润的来源。C店比低价，天猫能撑起利润。","text":"$(09988)$ AI 加云，带动新业务发展，淘宝天猫在品牌心智这一板是很有护城河的，也是利润的来源。C店比低价，天猫能撑起利润。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/294339402186968","isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":279846072479904,"gmtCreate":1709343346003,"gmtModify":1709343347695,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"这样看法，那temu 和希音这些岂不是死的更快？","listText":"这样看法，那temu 和希音这些岂不是死的更快？","text":"这样看法，那temu 和希音这些岂不是死的更快？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/279846072479904","repostId":"2416760610","repostType":2,"repost":{"id":"2416760610","pubTimestamp":1709299009,"share":"https://www.laohu8.com/m/news/2416760610?lang=&edition=full","pubTime":"2024-03-01 21:16","market":"us","language":"zh","title":"全球速卖通增长“掉队”，阿里巴巴该如何破局？","url":"https://stock-news.laohu8.com/highlight/detail?id=2416760610","media":"美股研究社","summary":"本季度，在Choice的推动下，全球速卖通的订单同比增长超过60%，Choice通过将更好的产品选择、价格和质量与物流速度和出色的客户支持相结合，为消费者提供了增强的体验。2024年1月，Choice约占全球速卖通订单总数的一半，并继续实现快速订单增长。正如我们所看到的，最近一个季度国际零售同比增长56%，占阿里巴巴该季度整体收入增长的66%。然而，全球速卖通看起来并不是一个可持续扩大阿里巴巴增长和利润的可行模式。","content":"<html><body><article><img src=\"https://fid-75186.picgzc.qpic.cn/20240301212040675v163ctyxz3tel36\"/><p><strong>作者 | Paulo Santos</strong><strong>编译 | 华尔街大事件</strong>目前，全球速卖通是<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>（NYSE：BABA）的主要增长引擎。快速浏览一下阿里巴巴最近的收益报告就清楚地表明了这一点：</p><img src=\"https://fid-75186.picgzc.qpic.cn/20240301212041192v163o2rcvagsmf8\"/><p>速卖通在突出的细分市场中占据主导地位，正如阿里巴巴所强调的那样：截至2023年12月31日的季度，AIDC的收入同比增长44%至人民币285.16亿元（40.16亿美元），AIDC的合并订单同比增长24%。强劲的业绩得益于AIDC所有零售平台的稳健增长，尤其是跨境速卖通精选业务。随着全球对高品质、高价格产品的需求不断增长，我们的跨境业务同比快速增长。为了维持这一势头并为客户提供差异化服务，我们在本季度增加了投资，并将继续投资于进一步的增长。本季度，在Choice的推动下，全球速卖通的订单同比增长超过60%，Choice通过将更好的产品选择、价格和质量与物流速度和出色的客户支持相结合，为消费者提供了增强的体验。2024年1月，Choice约占全球速卖通订单总数的一半，并继续实现快速订单增长。正如我们所看到的，最近一个季度国际零售同比增长56%，占阿里巴巴该季度整体收入增长的66%。然而，全球速卖通看起来并不是一个可持续扩大阿里巴巴增长和利润的可行模式。在短期内，收入的大幅增长是以该部门亏损增加为代价实现的：</p><img src=\"https://fid-75186.picgzc.qpic.cn/20240301212041738v163xsfcdtftq9k\"/><p>目前，国际上正在以损失为代价换取增长，但可以说损失还不够高！速卖通目前还没有切实可行的方法来解决很多售后问题。速卖通不愿意承担服务成本，因为它的利润率太低，而且它显然也不愿意像<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>那样向供应商施压。因此，随着时间的推移，全球速卖通可能会失去一个又一个高价值客户，其声誉可能会因此受到损害，以至于它可能会因为永久性的客户获取成本而陷入困境，以弥补客户流失。当然，一个解决方案是在所有主要市场建立本地服务。但目前的模式就根本不可行。很明显，提供本地支持的本地替代品或亚马逊会为客户提供更好的服务，这既会消耗成本，也会惩罚越界的第三方供应商。不过，全球速卖通无法走亚马逊的路线，因为它向第三方卖家收取的佣金要低得多，因此无法吸收成本。速卖通根本不可能长期保持竞争力，同时其客户服务政策比其他替代方案所提供的要差得多。同时，就在近期，阿里巴巴宣布其云服务平均降价20%，以吸引业务。然而，电信市场份额增长的结构性原因并不能通过降价来解决。分析师最近对阿里巴巴的估值持乐观态度。然而，由于已经存在的挑战，以及认识到即使是其主要增长引擎也并不坚实，以及更强大且通常更便宜的投资选择的可用性，我回到了中立。阿里巴巴的估值极具吸引力，EV/<span>EBITDA</span>为3.0倍，市盈率为8.3倍，EV/FCF为4-5倍，这对于阿里巴巴这样的领先者来说确实太低了，但前提是它仍然是领先者。考虑到它所面临的挑战，阿里巴巴确实存在失去这种领导地位的风险（在云领域——它可能已经失去了这种领导地位，而且随着时间的推移，可能波及电子商务领域）。在某种程度上，我们可以说阿里巴巴的<span>净利润</span>可能相对被低估了，因此市盈率可能相对被高估了（即使如此低）。我的意思是“相对”，就像“与其他人相比”一样。其他包括<a href=\"https://laohu8.com/S/MSFT\">微软</a>、亚马逊或<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>。请注意，我并不是说阿里巴巴的市盈率低于其他公司。这是显而易见的。我的意思是，即使“较低”的市盈率仍然略微低估了真正的差异。在过去的几年里，微软、亚马逊和谷歌都延长了他们的服务器和网络设备折旧计划。现在，他们的服务器都在六年内折旧。然而，阿里巴巴的服务器折旧期限为3-5年（可能为5年）。这意味着，在相同水平的投资下，与阿里巴巴相比，微软、亚马逊和谷歌现在的折旧率更低，<span>营业利润</span>和净利润更高。这是相关的，因为阿里巴巴、亚马逊、微软和谷歌都是大型云运营商。微软的影响似乎约为净利润的5%-7%，而亚马逊的影响可能更大（考虑到它是最大的云运营商）。除了阿里巴巴在云部门和电子商务部门面临的挑战之外，我现在认为阿里巴巴目前的增长引擎速卖通可能不可持续或导致更高的部门损失。原因是认识到，对于需要保修服务的商品，速卖通现有的模式不具备竞争力——因此，要么导致客户流失/流失，要么必须修改模式，导致成本更高。</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>全球速卖通增长“掉队”，阿里巴巴该如何破局？</title>\n<style 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href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202403012121108af5ad19&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89988":"阿里巴巴-SWR","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4565":"NFT概念","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 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华尔街大事件目前，全球速卖通是阿里巴巴（NYSE：BABA）的主要增长引擎。快速浏览一下阿里巴巴最近的收益报告就清楚地表明了这一点：速卖通在突出的细分市场中占据主导地位，正如阿里巴巴所强调的那样：截至2023年12月31日的季度，AIDC的收入同比增长44%至人民币285.16亿元（40.16亿美元），AIDC的合并订单同比增长24%。强劲的业绩得益于AIDC所有零售平台的稳健增长，尤其是跨境速卖通精选业务。随着全球对高品质、高价格产品的需求不断增长，我们的跨境业务同比快速增长。为了维持这一势头并为客户提供差异化服务，我们在本季度增加了投资，并将继续投资于进一步的增长。本季度，在Choice的推动下，全球速卖通的订单同比增长超过60%，Choice通过将更好的产品选择、价格和质量与物流速度和出色的客户支持相结合，为消费者提供了增强的体验。2024年1月，Choice约占全球速卖通订单总数的一半，并继续实现快速订单增长。正如我们所看到的，最近一个季度国际零售同比增长56%，占阿里巴巴该季度整体收入增长的66%。然而，全球速卖通看起来并不是一个可持续扩大阿里巴巴增长和利润的可行模式。在短期内，收入的大幅增长是以该部门亏损增加为代价实现的：目前，国际上正在以损失为代价换取增长，但可以说损失还不够高！速卖通目前还没有切实可行的方法来解决很多售后问题。速卖通不愿意承担服务成本，因为它的利润率太低，而且它显然也不愿意像亚马逊那样向供应商施压。因此，随着时间的推移，全球速卖通可能会失去一个又一个高价值客户，其声誉可能会因此受到损害，以至于它可能会因为永久性的客户获取成本而陷入困境，以弥补客户流失。当然，一个解决方案是在所有主要市场建立本地服务。但目前的模式就根本不可行。很明显，提供本地支持的本地替代品或亚马逊会为客户提供更好的服务，这既会消耗成本，也会惩罚越界的第三方供应商。不过，全球速卖通无法走亚马逊的路线，因为它向第三方卖家收取的佣金要低得多，因此无法吸收成本。速卖通根本不可能长期保持竞争力，同时其客户服务政策比其他替代方案所提供的要差得多。同时，就在近期，阿里巴巴宣布其云服务平均降价20%，以吸引业务。然而，电信市场份额增长的结构性原因并不能通过降价来解决。分析师最近对阿里巴巴的估值持乐观态度。然而，由于已经存在的挑战，以及认识到即使是其主要增长引擎也并不坚实，以及更强大且通常更便宜的投资选择的可用性，我回到了中立。阿里巴巴的估值极具吸引力，EV/EBITDA为3.0倍，市盈率为8.3倍，EV/FCF为4-5倍，这对于阿里巴巴这样的领先者来说确实太低了，但前提是它仍然是领先者。考虑到它所面临的挑战，阿里巴巴确实存在失去这种领导地位的风险（在云领域——它可能已经失去了这种领导地位，而且随着时间的推移，可能波及电子商务领域）。在某种程度上，我们可以说阿里巴巴的净利润可能相对被低估了，因此市盈率可能相对被高估了（即使如此低）。我的意思是“相对”，就像“与其他人相比”一样。其他包括微软、亚马逊或谷歌。请注意，我并不是说阿里巴巴的市盈率低于其他公司。这是显而易见的。我的意思是，即使“较低”的市盈率仍然略微低估了真正的差异。在过去的几年里，微软、亚马逊和谷歌都延长了他们的服务器和网络设备折旧计划。现在，他们的服务器都在六年内折旧。然而，阿里巴巴的服务器折旧期限为3-5年（可能为5年）。这意味着，在相同水平的投资下，与阿里巴巴相比，微软、亚马逊和谷歌现在的折旧率更低，营业利润和净利润更高。这是相关的，因为阿里巴巴、亚马逊、微软和谷歌都是大型云运营商。微软的影响似乎约为净利润的5%-7%，而亚马逊的影响可能更大（考虑到它是最大的云运营商）。除了阿里巴巴在云部门和电子商务部门面临的挑战之外，我现在认为阿里巴巴目前的增长引擎速卖通可能不可持续或导致更高的部门损失。原因是认识到，对于需要保修服务的商品，速卖通现有的模式不具备竞争力——因此，要么导致客户流失/流失，要么必须修改模式，导致成本更高。","news_type":1},"isVote":1,"tweetType":1,"viewCount":296,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":267982491107592,"gmtCreate":1706449882816,"gmtModify":1706449884752,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"作者，淘宝亚马逊很差吗？说了这么多年，也不见国内的汽车芯片产业起来，就一吹牛，博眼球，此庸人也","listText":"作者，淘宝亚马逊很差吗？说了这么多年，也不见国内的汽车芯片产业起来，就一吹牛，博眼球，此庸人也","text":"作者，淘宝亚马逊很差吗？说了这么多年，也不见国内的汽车芯片产业起来，就一吹牛，博眼球，此庸人也","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/267982491107592","repostId":"2406962203","repostType":2,"repost":{"id":"2406962203","pubTimestamp":1706230275,"share":"https://www.laohu8.com/m/news/2406962203?lang=&edition=full","pubTime":"2024-01-26 08:51","market":"us","language":"zh","title":"三十岁的亚马逊，遭遇淘宝式困境","url":"https://stock-news.laohu8.com/highlight/detail?id=2406962203","media":"中国家电网","summary":"2024年，对亚马逊而言，意味深长。尽管如此，亚马逊依然不敢言笑。这意味着，而立之年，亚马逊遭遇“围猎”。一次又一次的迭代，令亚马逊再度成为华尔街的“座上宾”。不承想，这个期许亚马逊始终未能达到。更为严重的是，亚马逊不但一度被“万亿美元俱乐部”出名，更是一度市值缩水超过一万亿美元，与苹果、微软的市值越拉越大。2023年第三季度，亚马逊的营业收入为1430.83亿美元，同比增长12.57%;净利润为98.79亿美元，同比暴涨243.98%。","content":"<html><body><p cms-style=\"font-L isIntable \">2024年，对<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>而言，意味深长。</p><p cms-style=\"font-L isIntable \">成立于1994年的亚马逊，起初不过是一家图书电商平台，后迭代为全球市值最高的综合电商平台，好不风光。</p><p cms-style=\"font-L isIntable \">尽管如此，亚马逊依然不敢言笑。</p><p cms-style=\"font-L isIntable \">当下，跨境电商“四小龙”不但在全球舞台上锋芒毕露，更是策马加鞭般追赶，一场新旧势力的正面较量在所难免。</p><p cms-style=\"font-L isIntable \">这意味着，而立之年，亚马逊遭遇“围猎”。</p><p cms-style=\"font-L isIntable \">　01 不断迭代，不断自我救赎</p><p cms-style=\"font-L isIntable \">“今天依然是‘第一天’!”</p><p cms-style=\"font-L isIntable \">这是亚马逊创始人贝索斯的座右铭，也是亚马逊三十年来的成长缩影。</p><p cms-style=\"font-L isIntable \">1994年，31岁的贝索斯创立了亚马逊网站，在线销售正版图书，亏得不要不要的，但在那个科技泡沫年代，这并不是一个问题，只要是.com就OK，1997年上市至1998年底其股票价格暴涨了23倍，令人瞠目结舌。</p><p cms-style=\"font-L isIntable \">华尔街一端连着天堂，另一端连着地狱。</p><p cms-style=\"font-L isIntable \">1999年，互联网泡沫破灭无数财富化为尘土，无数公司被贴上“骗子”的标签，所幸亚马逊成功进行了自我救赎。</p><p cms-style=\"font-L isIntable \">从网上书店到零售平台，从Kindle电子书阅读器到智能硬件，从云计算到大模型……</p><p cms-style=\"font-L isIntable \">一次又一次的迭代，令亚马逊再度成为华尔街的“座上宾”。</p><p cms-style=\"font-L isIntable \">曾几何时，华尔街津津乐道的是，<a href=\"https://laohu8.com/S/AAPL\">苹果</a>、<a href=\"https://laohu8.com/S/MSFT\">微软</a>与亚马逊，这“三巨头”谁能拔得头筹，率先叩开两万亿美元市值的大门。</p><p cms-style=\"font-L isIntable \">不承想，这个期许亚马逊始终未能达到。</p><p cms-style=\"font-L isIntable \">2021年7月，亚马逊市值触及1.88万亿美元的历史高点，之后一路下滑，2022年堪称其“水逆之年”，全年前复权的年度跌幅高达49.62%，结束了七年涨的辉煌历史。</p><p cms-style=\"font-L isIntable \">更为严重的是，亚马逊不但一度被“万亿美元俱乐部”出名，更是一度市值缩水超过一万亿美元，与苹果、微软的市值越拉越大。</p><p cms-style=\"font-L isIntable \">此背景下，降本增效成为亚马逊的关键词。</p><p cms-style=\"font-L isIntable \">据Layoffs.fyi的数据显示，亚马逊是海外科技公司裁员力度最狠的公司，2022年11月裁员10000人，2023年1月裁员8000人，3月裁员9000人，短短数月合计裁员2.7万人，打破了硅谷的历史记录。</p><p cms-style=\"font-L isIntable \">于是乎，亚马逊的业绩又好了起来。</p><p cms-style=\"font-L isIntable \">2023年第三季度，亚马逊的营业收入为1430.83亿美元，同比增长12.57%;净利润为98.79亿美元，同比暴涨243.98%。</p><div><div><div><div><div><div>\n<figure>\n<img h=\"360\" src=\"http://k.sinaimg.cn/n/spider20240126/640/w1080h360/20240126/6be2-e44f39b97072f283e2e1d65f91ec0970.jpg/w700d1q75cms.jpg?by=cms_fixed_width\" w=\"1080\"/>\n<h2></h2>\n</figure>\n<span></span></div><span></span></div><span></span></div><span></span></div><span></span></div><span>亚马逊的净利润重回增长(单位：美元)</span></div><p cms-style=\"font-L isIntable \">华尔街投行奥本海默表示：“亚马逊的市值已经超过1.5万亿美元，因为它一直专注于削减成本，提升人工智能，并可能通过云计算AWS渡过难关。”</p><p cms-style=\"font-L isIntable \">　02 淘宝的困境，也成了亚马逊的难题</p><p cms-style=\"font-L isIntable \">需要注意的是，亚马逊的业绩虽然重返高增长，但依然不能高枕无忧。</p><p cms-style=\"font-L isIntable \">一方面，与淘宝的困境一致。</p><p cms-style=\"font-L isIntable \">在国内，电商市场从“红海”走向“血海”，出海成为行业的共识，加码之下成绩也可圈可点，Temu、SHEIN、Tiktok Shop与AliExpress，被称为跨境电商“四小龙”，成为中国电商出海的主力军。</p><p cms-style=\"font-L isIntable \">譬如，Temu为<a href=\"https://laohu8.com/S/PDD\">拼多多</a>的海外版，2022年9月出海就引起全球的轰动，连续数月霸榜App Store、Google Play的免费下载榜。</p><p cms-style=\"font-L isIntable \">据《2023年中国跨境电商平台出海白皮书》显示，AliExpress、SHEIN、Tiktok Shop与Temu的月均访问量分别为5.3亿次、1.9亿次、0.7亿次和1亿次。</p><p cms-style=\"font-L isIntable \">虽然，跨境电商“四小龙”与亚马逊还有不小的差距，但成长速度却令后者心惊肉跳。</p><p cms-style=\"font-L isIntable \">据data.ai的数据显示，2023年10月，亚马逊全球用户数量同比增长4%，而Temu和SHEIN加起来猛增至2.6倍;这两款应用在美国的新增下载量达到亚马逊的近5倍。</p><p cms-style=\"font-L isIntable \">须知，美国是亚马逊的最大市场。</p><p cms-style=\"font-L isIntable \">冲击之下，亚马逊2023年10月在美国的用户数量同比下降了8%，使用时间同比减少20%，基本面遭受蚕食肉眼可见。</p><p cms-style=\"font-L isIntable \">这与淘宝当下的困境如出一辙。</p><p cms-style=\"font-L isIntable \">一名市场人士告诉锌刻度：“按理说，亚马逊应该主动出击争夺商家与用户，为了业绩好看却上调了旺季FBA配送费用、旺季仓储费、广告投放费用等，白白便宜了竞争对手。”</p>\n<figure>\n<img h=\"535\" src=\"http://k.sinaimg.cn/n/spider20240126/370/w635h535/20240126/0ab4-91022ccd214f3396a09b50937bf00c14.jpg/w700d1q75cms.jpg?by=cms_fixed_width\" w=\"635\"/>\n<h2></h2>\n</figure>\n<p cms-style=\"font-L isIntable \">亚马逊乃美股“七姐妹”之一</p><p cms-style=\"font-L isIntable \">另外一方面，转型电商新形态不顺。</p><p cms-style=\"font-L isIntable \">虽然淘宝被拼多多压着打，连头都抬不起，好歹在直播与种草等电商新形态中还占据一席之地，而亚马逊却几乎没有什么拿得出手。</p><p cms-style=\"font-L isIntable \">譬如，亚马逊堪其实是直播电商的第一批玩家，早在2016年就推出Amazon Live，却直到2019年才重视起来，为此倾斜了不少资源，但一直不见起色，迄今为止依然处于行业的边缘状态。</p><p cms-style=\"font-L isIntable \">一名私募人士告诉锌刻度：“全球消费者的口味各不同，有的注重品牌可信度、有的青睐商品性价比、有的依赖主播的个人魅力，有的看重互动娱乐性……再叠加思维不同、习俗不同、文化不同等营收，加大了海外的直播带货的难度。”</p><p cms-style=\"font-L isIntable \">如此一来，亚马逊不再“性感”。</p><p cms-style=\"font-L isIntable \">事实上，为了挽回颓势亚马逊也做了许多努力，近期与Meta、Snap达成合作共谋社交购物，即允许Facebook、Instagram、Snapchat用户在社交媒体直接购买亚马逊的商品，从而获得新的流量入口。</p><p cms-style=\"font-L isIntable \">上述措施的实际效果有待观察，但跨境电商“四小龙”改写亚马逊一家独大的格局的趋势或不会改变。</p><p cms-style=\"font-L isIntable \">毕竟，淘宝也是这么走上下坡路的。</p><p cms-style=\"font-L isIntable \">03 跨境电商起势，背后有何依仗?</p><p cms-style=\"font-L isIntable \">攻入亚马逊的腹地，跨境电商“四小龙”的确有两把刷子。</p><p cms-style=\"font-L isIntable \">首先，打法新颖</p><p cms-style=\"font-L isIntable \">跨境电商“四小龙”虽然都偏爱低价策略，但侧重各有不同，令亚马逊应接不暇，也难以放下身段与之应战。</p><p cms-style=\"font-L isIntable \">以Temu为例，其策略为“Team Up，Price Down”，与“拼得多，省得多”有异曲同工之妙，走的是低价跑量、裂变营销路线，邀请新人注册、接受老用户邀请等都可以实打实获得不同数额的美元。</p><p cms-style=\"font-L isIntable \">毫不夸张地说，拼多多的“砍一刀”也成功征服了海外用户。</p><p cms-style=\"font-L isIntable \">其次，供应链完善</p><p cms-style=\"font-L isIntable \">电商的价格之争，其实就是供应链之争，比拼的是平台对供应链掌控深度，如此才赢得了海外消费者的信任。</p><p cms-style=\"font-L isIntable \">以SHEIN为例，在时尚和服装类网站的网络访问量排名世界第一，主打的是上新快、品类多、迭代狠、价格低，无一不是供应链加持的结果。</p><p cms-style=\"font-L isIntable \">“高效的物流和易于使用的应用开发能力相得益彰，能够直接与海外消费者接触。”伊藤忠综研主任研究员赵玮琳在谈到中国电商时表示，“正在迎合追求更廉价产品的美国国内消费者的需求”。</p><p cms-style=\"font-L isIntable \">　再次，俘获年轻人</p><p cms-style=\"font-L isIntable \">TikTok不但成为全球短视频巨头，更是成为全球年轻人的“心头好”，令亚马逊、<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>、Meta等全球互联网巨头坐立难安。</p>\n<figure>\n<img h=\"484\" src=\"http://k.sinaimg.cn/n/spider20240126/156/w472h484/20240126/35ed-6f752600b6dfd72fe7215fa0e55deb33.jpg/w700d1q75cms.jpg?by=cms_fixed_width\" w=\"472\"/>\n<h2></h2>\n</figure>\n<p cms-style=\"font-L isIntable \">TikTok成为全球年轻人的“心头好”</p><p cms-style=\"font-L isIntable \">据Apptopia的数据显示，2022年，TikTok以6.27亿的下载量再次夺下全球应用程序下载冠军宝座，且总下载量已达到30亿次。</p><p cms-style=\"font-L isIntable \">流量变现，一直是TikTok的核心诉求，而电商被公认为流量变现的最佳途径之一，于是2021年2月在印尼上线了TikTok Shop，开启了海外流量变现之旅。</p><p cms-style=\"font-L isIntable \">如此一来，亚马逊与TikTok的矛盾不可调和，与TikTok Shop争斗年轻人不占优势。</p><p cms-style=\"font-L isIntable \">总而言之，亚马逊成立三十年，与苹果、谷歌、微软、Meta、<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>、<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>并列美股“七姐妹”，但在跨境电商“四小龙”的冲击之下，有了不确定性。</p><p cms-style=\"font-L isIntable \">毕竟，淘宝的“今日”，或是亚马逊的“明日”。</p>\n<div>\n<img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/>\n</div>\n</body></html>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>三十岁的亚马逊，遭遇淘宝式困境</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ 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class=\"title\">\n三十岁的亚马逊，遭遇淘宝式困境\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-26 08:51 北京时间&nbsp;&nbsp;&nbsp;<a href=https://tech.sina.cn/digi/elec/2024-01-26/detail-inaevhph0319120.d.html?vt=4><strong>中国家电网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2024年，对亚马逊而言，意味深长。成立于1994年的亚马逊，起初不过是一家图书电商平台，后迭代为全球市值最高的综合电商平台，好不风光。尽管如此，亚马逊依然不敢言笑。当下，跨境电商“四小龙”不但在全球舞台上锋芒毕露，更是策马加鞭般追赶，一场新旧势力的正面较量在所难免。这意味着，而立之年，亚马逊遭遇“围猎”。　01 不断迭代，不断自我救赎“今天依然是‘第一天’!”这是亚马逊创始人贝索斯的座右铭，也是...</p>\n\n<a href=\"https://tech.sina.cn/digi/elec/2024-01-26/detail-inaevhph0319120.d.html?vt=4\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/spider20240126/640/w1080h360/20240126/6be2-e44f39b97072f283e2e1d65f91ec0970.jpg/w120h90l50t14f9.jpg","relate_stocks":{"89988":"阿里巴巴-SWR","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA 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EQUITY \"A1\" (USD) ACC","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","BK1608":"元宇宙概念","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK1502":"双十一","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4592":"伊斯兰概念","BK1501":"阿里概念股","LU0080751232.USD":"富达环球多元动力基金A","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4559":"巴菲特持仓","AMZN":"亚马逊","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","BK4588":"碎股","LU0051755006.USD":"摩根大通中国A (dist)","LU1688375341.USD":"贝莱德中国灵活股票基金","BK4550":"红杉资本持仓","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC"},"source_url":"https://tech.sina.cn/digi/elec/2024-01-26/detail-inaevhph0319120.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2406962203","content_text":"2024年，对亚马逊而言，意味深长。成立于1994年的亚马逊，起初不过是一家图书电商平台，后迭代为全球市值最高的综合电商平台，好不风光。尽管如此，亚马逊依然不敢言笑。当下，跨境电商“四小龙”不但在全球舞台上锋芒毕露，更是策马加鞭般追赶，一场新旧势力的正面较量在所难免。这意味着，而立之年，亚马逊遭遇“围猎”。　01 不断迭代，不断自我救赎“今天依然是‘第一天’!”这是亚马逊创始人贝索斯的座右铭，也是亚马逊三十年来的成长缩影。1994年，31岁的贝索斯创立了亚马逊网站，在线销售正版图书，亏得不要不要的，但在那个科技泡沫年代，这并不是一个问题，只要是.com就OK，1997年上市至1998年底其股票价格暴涨了23倍，令人瞠目结舌。华尔街一端连着天堂，另一端连着地狱。1999年，互联网泡沫破灭无数财富化为尘土，无数公司被贴上“骗子”的标签，所幸亚马逊成功进行了自我救赎。从网上书店到零售平台，从Kindle电子书阅读器到智能硬件，从云计算到大模型……一次又一次的迭代，令亚马逊再度成为华尔街的“座上宾”。曾几何时，华尔街津津乐道的是，苹果、微软与亚马逊，这“三巨头”谁能拔得头筹，率先叩开两万亿美元市值的大门。不承想，这个期许亚马逊始终未能达到。2021年7月，亚马逊市值触及1.88万亿美元的历史高点，之后一路下滑，2022年堪称其“水逆之年”，全年前复权的年度跌幅高达49.62%，结束了七年涨的辉煌历史。更为严重的是，亚马逊不但一度被“万亿美元俱乐部”出名，更是一度市值缩水超过一万亿美元，与苹果、微软的市值越拉越大。此背景下，降本增效成为亚马逊的关键词。据Layoffs.fyi的数据显示，亚马逊是海外科技公司裁员力度最狠的公司，2022年11月裁员10000人，2023年1月裁员8000人，3月裁员9000人，短短数月合计裁员2.7万人，打破了硅谷的历史记录。于是乎，亚马逊的业绩又好了起来。2023年第三季度，亚马逊的营业收入为1430.83亿美元，同比增长12.57%;净利润为98.79亿美元，同比暴涨243.98%。\n\n\n\n\n亚马逊的净利润重回增长(单位：美元)华尔街投行奥本海默表示：“亚马逊的市值已经超过1.5万亿美元，因为它一直专注于削减成本，提升人工智能，并可能通过云计算AWS渡过难关。”　02 淘宝的困境，也成了亚马逊的难题需要注意的是，亚马逊的业绩虽然重返高增长，但依然不能高枕无忧。一方面，与淘宝的困境一致。在国内，电商市场从“红海”走向“血海”，出海成为行业的共识，加码之下成绩也可圈可点，Temu、SHEIN、Tiktok Shop与AliExpress，被称为跨境电商“四小龙”，成为中国电商出海的主力军。譬如，Temu为拼多多的海外版，2022年9月出海就引起全球的轰动，连续数月霸榜App Store、Google Play的免费下载榜。据《2023年中国跨境电商平台出海白皮书》显示，AliExpress、SHEIN、Tiktok Shop与Temu的月均访问量分别为5.3亿次、1.9亿次、0.7亿次和1亿次。虽然，跨境电商“四小龙”与亚马逊还有不小的差距，但成长速度却令后者心惊肉跳。据data.ai的数据显示，2023年10月，亚马逊全球用户数量同比增长4%，而Temu和SHEIN加起来猛增至2.6倍;这两款应用在美国的新增下载量达到亚马逊的近5倍。须知，美国是亚马逊的最大市场。冲击之下，亚马逊2023年10月在美国的用户数量同比下降了8%，使用时间同比减少20%，基本面遭受蚕食肉眼可见。这与淘宝当下的困境如出一辙。一名市场人士告诉锌刻度：“按理说，亚马逊应该主动出击争夺商家与用户，为了业绩好看却上调了旺季FBA配送费用、旺季仓储费、广告投放费用等，白白便宜了竞争对手。”\n\n\n\n\n亚马逊乃美股“七姐妹”之一另外一方面，转型电商新形态不顺。虽然淘宝被拼多多压着打，连头都抬不起，好歹在直播与种草等电商新形态中还占据一席之地，而亚马逊却几乎没有什么拿得出手。譬如，亚马逊堪其实是直播电商的第一批玩家，早在2016年就推出Amazon Live，却直到2019年才重视起来，为此倾斜了不少资源，但一直不见起色，迄今为止依然处于行业的边缘状态。一名私募人士告诉锌刻度：“全球消费者的口味各不同，有的注重品牌可信度、有的青睐商品性价比、有的依赖主播的个人魅力，有的看重互动娱乐性……再叠加思维不同、习俗不同、文化不同等营收，加大了海外的直播带货的难度。”如此一来，亚马逊不再“性感”。事实上，为了挽回颓势亚马逊也做了许多努力，近期与Meta、Snap达成合作共谋社交购物，即允许Facebook、Instagram、Snapchat用户在社交媒体直接购买亚马逊的商品，从而获得新的流量入口。上述措施的实际效果有待观察，但跨境电商“四小龙”改写亚马逊一家独大的格局的趋势或不会改变。毕竟，淘宝也是这么走上下坡路的。03 跨境电商起势，背后有何依仗?攻入亚马逊的腹地，跨境电商“四小龙”的确有两把刷子。首先，打法新颖跨境电商“四小龙”虽然都偏爱低价策略，但侧重各有不同，令亚马逊应接不暇，也难以放下身段与之应战。以Temu为例，其策略为“Team Up，Price Down”，与“拼得多，省得多”有异曲同工之妙，走的是低价跑量、裂变营销路线，邀请新人注册、接受老用户邀请等都可以实打实获得不同数额的美元。毫不夸张地说，拼多多的“砍一刀”也成功征服了海外用户。其次，供应链完善电商的价格之争，其实就是供应链之争，比拼的是平台对供应链掌控深度，如此才赢得了海外消费者的信任。以SHEIN为例，在时尚和服装类网站的网络访问量排名世界第一，主打的是上新快、品类多、迭代狠、价格低，无一不是供应链加持的结果。“高效的物流和易于使用的应用开发能力相得益彰，能够直接与海外消费者接触。”伊藤忠综研主任研究员赵玮琳在谈到中国电商时表示，“正在迎合追求更廉价产品的美国国内消费者的需求”。　再次，俘获年轻人TikTok不但成为全球短视频巨头，更是成为全球年轻人的“心头好”，令亚马逊、谷歌、Meta等全球互联网巨头坐立难安。\n\n\n\n\nTikTok成为全球年轻人的“心头好”据Apptopia的数据显示，2022年，TikTok以6.27亿的下载量再次夺下全球应用程序下载冠军宝座，且总下载量已达到30亿次。流量变现，一直是TikTok的核心诉求，而电商被公认为流量变现的最佳途径之一，于是2021年2月在印尼上线了TikTok Shop，开启了海外流量变现之旅。如此一来，亚马逊与TikTok的矛盾不可调和，与TikTok Shop争斗年轻人不占优势。总而言之，亚马逊成立三十年，与苹果、谷歌、微软、Meta、特斯拉、英伟达并列美股“七姐妹”，但在跨境电商“四小龙”的冲击之下，有了不确定性。毕竟，淘宝的“今日”，或是亚马逊的“明日”。","news_type":1},"isVote":1,"tweetType":1,"viewCount":500,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":652200033,"gmtCreate":1684542547423,"gmtModify":1684548650215,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"信任是最大的回报","listText":"信任是最大的回报","text":"信任是最大的回报","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/652200033","repostId":"2336159852","repostType":2,"repost":{"id":"2336159852","pubTimestamp":1684478884,"share":"https://www.laohu8.com/m/news/2336159852?lang=&edition=full","pubTime":"2023-05-19 14:48","market":"us","language":"zh","title":"蒋凡“杀回”阿里核心层","url":"https://stock-news.laohu8.com/highlight/detail?id=2336159852","media":"全天候科技","summary":"5月18日，阿里巴巴集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜","content":"<html><head></head><body><p>5月18日，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜鸟、本地生活等板块成为新增长引擎。</p><p>一季度，阿里巴巴开启了史上最重要的一次组织变革：采用“1+6+N”架构，即在阿里巴巴集团之下，设立阿里云<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>、淘宝天猫商业、本地生活、国际数字商业、菜鸟、大文娱等六大业务集团和多家业务公司。</p><p>本次财报的最大亮点是，阿里巴巴集团透露了改革计划的新进展：云智能集团将从阿里巴巴集团完全分拆独立走向上市，菜鸟、盒马启动上市计划，国际数字商业集团启动外部融资，六大业务集团正式成立董事会。</p><p>就在所有人的注意被该消息吸引时，久未露面的蒋凡，悄然“现身”了。</p><p>在财报电话会上，他以阿里巴巴国际数字商业集团（AIDC）CEO的身份点评了该业务一季度表现，并对投资人介绍了旗下各板块业务未来计划发展方向。</p><p><strong>2023年一季度，阿里巴巴国际业务一骑绝尘，营收同比增速近30%，位列六大业务集团之首；其中国际零售收入同比增长41%，连续3个季度超出市场预期。</strong></p><p>忙活海外业务一年多的蒋凡，终于算是打了场漂亮的“翻身仗”。</p><p>不过，现在显然不到他庆贺的时候。受各国经济发展水平影响，海外电商渗透率、基础设施完善度、用户消费偏好等在不同地区的差异较大。</p><p>这就给蒋凡提出了更高的管理要求，业务也需要更多时间落地。尤其是在阿里巴巴业务分拆之后，更考验AIDC独自乘风破浪的能力。</p><h2>业务迎来“大翻身”</h2><p>2021年12月，张勇用一封内部信启动了阿里巴巴集团架构调整的步伐。</p><p>11号员工戴珊被任命为“中国数字商业板块”负责人，掌管阿里巴巴最核心、国内用户更熟悉的淘宝、天猫等业务；而在“大淘宝”奋战了七年的蒋凡，则被调往“海外数字商业板块”，管理速卖通、国际贸易等海外业务一层组织，以及Lazada等面向海外市场的子公司。</p><p>这一度被认为是阿里巴巴近年来最重要的一次组织调整。尽管蒋凡的职级从集团副总裁升为了分管业务大总裁，但调离集团最核心的业务，在外界看来就是一种“流放”，远离了权力中心，明升暗降。</p><p>甚至有人猜测，蒋凡可能在相当长一段时间内晋升无望，不排除离开阿里巴巴单飞；还有断言，蒋凡调任海外，是阿里巴巴增加海外业务权重的可能性较低。</p><p>但就国际数字商业集团的成绩看，蒋凡只是离开了一个时刻暴露在聚光灯下的业务，去负责阿里巴巴未来重点想要发展的业务，并没有“躺平”、放弃的意思。</p><p>2023年一季度，国际数字商业集团整体营收达到185.41亿元，占阿里巴巴集团总营收（2082亿元）的9%，与云业务收入（185.82亿元）基本持平，仅次于淘天集团（前身：中国数字商业板块）；收入同比增速达到29%，处于新拆分的六大集团营收同比增幅首位。</p><p><em>2023Q1阿里巴巴集团主要财务情况</em></p><p>具体而言，国际零售和国际批发两大板块，贡献了国际数字商业集团的全部收入。</p><p>一季度，国际零售商业营收达到139.67亿元，同比大幅增长41%；订单量整体同比也了增长15%。</p><p>其中，Lazada通过优化买家体验，在东南亚市场实现双位数订单同比增长；Trendyol新业务订单增长强劲，季度订单同比增长率保持强韧；速卖通3月以来订单量快速增长，同比去年增幅超50%。</p><p>相较而言，国际批发商业受市场环境影响，收入增幅（3%）并不大，期内营收为45.74亿元。</p><p>从业绩表现能够清晰看到，国际数字商业集团的地位与日俱增，与云业务的收入差距正在逐步缩小。一年前，蒋凡刚刚接手这块业务时，两者单季收入差还有46.36亿元左右；一年后，国际数字商业集团就与云业务营收相当了。</p><p>就连阿里巴巴集团都在财报中指出：随着消费者服务能力与供应链能力齐头并进，海外业务已经逐渐成长为驱动阿里稳健增长的新引擎之一。</p><h2>蒋凡的出海策略</h2><p>业绩大幅增长的背后，很难说没有蒋凡的功劳。</p><p>自2022年1月上任起，蒋凡就被曝出频繁出差海外，带队到新加坡到欧洲市场考察。事实上，他做的工作远不止调研外部市场这么简单，更多是对组织架构、经营策略、战略方向等的梳理和调整。</p><p>张勇在2021年底宣布的组织架构调整中，将速卖通、阿里国际站、东南亚电商平台Lazada、土耳其电商平台Trendyol、南亚电商平台Daraz等都划入了“海外数字商业板块（GDC，Global Digital Commerce）”，由蒋凡统管。</p><p>而在“1+6+N”架构变革中，GDC从阿里巴巴集团分拆出来，成立了阿里巴巴国际数字商业集团（AIDC，Alibaba International Digital Commerce），由阿里巴巴集团董事兼总裁J. Michael EVANS任董事长，蒋凡任董事兼首席执行官，阿里巴巴合伙人彭蕾、淘天集团CEO戴珊、阿里巴巴合伙人吴泳铭任董事。</p><p><em>阿里巴巴国际数字商业集团最新董事会成员</em></p><p>分拆过后，AIDC的业务模式划分也非常清晰：有to B和to C两条线。</p><p>其中，面向C端的业务包括跨境电商平台速卖通、淘宝天猫海外，以及外国本土电商平台Lazada、Trendyol、Daraz等；而面向B端的业务就是B2B数字外贸平台Alibaba.com（阿里国际站）。</p><p>从业务覆盖区域来看，国际站触达全球190余个国家和地区；速卖通主攻欧洲市场，去年也加大了对韩国市场的投入；Lazada主要服务印尼、马来西亚、菲律宾、新加坡、泰国和越南这六个东南亚国家；Trendyol经营土耳其市场、Daraz专注南亚。</p><p><strong>全天候科技了解到，目前Trendyol和Daraz两大平台虽然并入了AIDC的财务报表，实际是独立运营状态，有自己的董事会；而蒋凡更多的精力，还是投入在速卖通、国际站和Lazada上。</strong></p><p>“跨境+本地化”，是蒋凡在摸清阿里巴巴海外业务发展情况后，确定并坚持的经营策略。</p><p>首先，是组织管理的“本地化”，这一点在Lazada业务上表现十分突出。</p><p>去年6月起，蒋凡从Lazada最高管理层下手，进行了人员大调整：任命董铮接替李纯，担任Lazada新任集团CEO，兼印尼分公司CEO。</p><p>在此之前，董铮曾是Lazada泰国、越南业务的“一把手”，熟悉东南亚市场的情况。他认为，东南亚六国处于非常不一样的发展阶段，需要因地制宜地匹配业务形态，并推动了Lazada管理人才本土化策略。</p><p>截至目前，Lazada业务每个国家都有负责当地市场的CEO，除董铮兼任印尼CEO外，其余五国CEO基本是从一线摸爬滚打提拔上来的当地人。</p><p>其次，做大做强基于中国制造业供应链的跨境零售电商。</p><p>主要从两方面着手：挖掘新市场、新人群，让业务规模持续扩大；提高补贴效率、完善增值服务，优化商业化变现效率。</p><p>以速卖通为例，其在去年底向平台商家推出了“全托管服务”，负责店铺运营、仓储、配送、售后服务等环节，从而降低跨境贸易门槛，吸引了更多有供给力缺经营力的商家入驻。</p><p>今年3月，又向全球消费者推出了新服务Choice，主打极致性价比。指定国家的消费者在Choice下单可享受免运费、免费退货和配送质量保证等服务。</p><p>在刚刚过去的一季度，速卖通订单同比获得了两位数增长，阿里巴巴则将这部分业绩上升的原因归功于Choice功能的带动。</p><p>蒋凡在财报电话会上表示，面向未来，国际零售业务依然会坚持跨境+本地模式的投入；跨境市场的潜力依然很大，速卖通将保持快速增长；本地市场中，除了在东南亚市场持续投入，也会积极关注更多新的区域市场机会。</p><h2>庆贺为时过早</h2><p>全球化已经成为互联网下半场，各家企业绕不开的发展课题。特别是在国内流量和用户渗透率接近饱和的时候，海外就成了兵家必争之地。</p><p>美团点评CEO王兴就曾表示，互联网下半场三大激动人心的机会是“上天、入地、全球化”。</p><p>阿里巴巴更是在2016年就确定了“内需、全球化、科技”三大战略；之后，张勇也多次在公开场合表达对全球化的重视，认为“全球化是阿里的未来，必须坚决全球买、全球卖、全球运和全球玩”。</p><p>除了云业务、菜鸟，海外业务天然成为了阿里巴巴全球化战略的重要践行者。</p><p>“过去几年，阿里巴巴海外市场增长迅速，海外年度活跃消费者已达2.85亿，但距离成为一家真正意义上的全球化公司，距离在潜力广阔的海外市场有更大作为，我们还有很长的路要走。”在任命蒋凡接管海外时，张勇就在内部信中表达了自己的希望，称“期待蒋凡带领团队在海外市场发展中实现更多创新。”</p><p>按照阿里巴巴的愿景，其目标是到2036年服务全球20亿消费者。</p><p><em>阿里目标到2036年服务全球20亿消费者</em></p><p>截至2022年3月31日止的12个月，阿里巴巴集团全球年度活跃消费者达约13.1亿。对比国内外看，中国市场实现超10亿消费者的里程碑，显然已经逼近天花板；而13亿年度活跃消费者，只有3.05亿来自海外，未来还有巨大增量空间。</p><p>但这并不意味着，蒋凡就能不费吹灰之力，一路高歌猛进。相反，摆在他面前的内部挑战和外部困难不少，没有任何一件事是一蹴而就的。</p><p>AIDC的各业务分部中，Lazada始终深耕东南亚市场，但具体各国存在国情差异，这就不能进行模式全盘复制，而是要有针对性的解决。自2016年斥资收购Lazada控股权以来，阿里巴巴就在搭建海外基础设施，直到今天才基本完成。</p><p>在巴基斯坦、缅甸、斯里兰卡等五国开设站点的Daraz亦存在Lazada类似的问题；而速卖通在欧洲市场的业务受外部环境影响较大，还需再开辟新市场；Trendyol的主体市场土耳其又相对单一，人口基数小，业务规模有限。这些难点都需要蒋凡带领团队去各个击破。</p><p>跟自家业务的难点比起来，外部平台的挑战或许更让蒋凡感到压力。</p><p>踩着直播短视频风口起来的TikTok，在东南亚一路攻城略地。据SenseTower数据，TikTok在印尼约有2亿用户下载量，占到整个东南亚地区40%以上；去年印尼开斋节期间，平台订单量增幅达493%，GMV增幅高达92%。</p><p>而据招商人员向全天候科技透露，TikTok的月活用户已超16亿，电商业务未来充满想象空间。</p><p><a href=\"https://laohu8.com/S/PDD\">拼多多</a>海外版Temu在北美市场正做得风生水起，又向着英国、法国、德国、意大利、西班牙、荷兰等欧洲国家进军，发展势头强劲。</p><p>此外，不少像SHEIN一样的独立站、海外市场的本地化电商平台，也都加入了这场战事，想要尽力分一杯羹。</p><p>对于蒋凡来说，海外是一个完全陌生的战场，没有任何范本可以照搬，每走一步都得小心翼翼，但他似乎并不担心。在财报电话会上，蒋凡透露，部分业务其实已经有非常好的利润，有一些业务是还在投入期，但整体海外板块是有潜力的。</p><p>带着AIDC独自发展的他，能否再为阿里巴巴创造惊喜？只有时间能给出答案。</p></body></html>","source":"awtmt_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>蒋凡“杀回”阿里核心层</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n蒋凡“杀回”阿里核心层\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-19 14:48 北京时间&nbsp;&nbsp;&nbsp;<a href=https://api.jianyuweb.com/apiv1/content/articles/3689154?extract=1><strong>全天候科技</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>5月18日，阿里巴巴集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜鸟、本地生活等板块成为新增长引擎。一季度，阿里巴巴开启了史上最重要的一次组织变革：采用“1+6+N”架构，即在阿里巴巴集团之下，设立阿里云智能、淘宝天猫商业、本地生活、国际数字商业、菜鸟、大文娱等六大...</p>\n\n<a href=\"https://api.jianyuweb.com/apiv1/content/articles/3689154?extract=1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/efaec2c318175bb7b136d276123765d5","relate_stocks":{"LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0128522744.USD":"TEMPLETON EMERGING MARKETS \"A\" ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU0348783233.USD":"安联东方收入型 CI A Dis美元","BK1588":"回港中概股","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","BK4220":"综合零售","BK4524":"宅经济概念","BK4585":"ETF&股票定投概念","BK4527":"明星科技股","BK1249":"综合零售","BK4579":"人工智能","LU0287142896.SGD":"Fidelity China Focus A-SGD","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","IE00B3M56506.USD":"NEUBERGER 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ACC"},"source_url":"https://api.jianyuweb.com/apiv1/content/articles/3689154?extract=1","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2336159852","content_text":"5月18日，阿里巴巴集团发布2023财年第四季度（自然年2023年第一季度）及全年业绩。公司财务表现整体与前两个季度差别不大：收入同比微涨，略低于市场预期；净利润同比大增，优于大部分预期，国际商业、菜鸟、本地生活等板块成为新增长引擎。一季度，阿里巴巴开启了史上最重要的一次组织变革：采用“1+6+N”架构，即在阿里巴巴集团之下，设立阿里云智能、淘宝天猫商业、本地生活、国际数字商业、菜鸟、大文娱等六大业务集团和多家业务公司。本次财报的最大亮点是，阿里巴巴集团透露了改革计划的新进展：云智能集团将从阿里巴巴集团完全分拆独立走向上市，菜鸟、盒马启动上市计划，国际数字商业集团启动外部融资，六大业务集团正式成立董事会。就在所有人的注意被该消息吸引时，久未露面的蒋凡，悄然“现身”了。在财报电话会上，他以阿里巴巴国际数字商业集团（AIDC）CEO的身份点评了该业务一季度表现，并对投资人介绍了旗下各板块业务未来计划发展方向。2023年一季度，阿里巴巴国际业务一骑绝尘，营收同比增速近30%，位列六大业务集团之首；其中国际零售收入同比增长41%，连续3个季度超出市场预期。忙活海外业务一年多的蒋凡，终于算是打了场漂亮的“翻身仗”。不过，现在显然不到他庆贺的时候。受各国经济发展水平影响，海外电商渗透率、基础设施完善度、用户消费偏好等在不同地区的差异较大。这就给蒋凡提出了更高的管理要求，业务也需要更多时间落地。尤其是在阿里巴巴业务分拆之后，更考验AIDC独自乘风破浪的能力。业务迎来“大翻身”2021年12月，张勇用一封内部信启动了阿里巴巴集团架构调整的步伐。11号员工戴珊被任命为“中国数字商业板块”负责人，掌管阿里巴巴最核心、国内用户更熟悉的淘宝、天猫等业务；而在“大淘宝”奋战了七年的蒋凡，则被调往“海外数字商业板块”，管理速卖通、国际贸易等海外业务一层组织，以及Lazada等面向海外市场的子公司。这一度被认为是阿里巴巴近年来最重要的一次组织调整。尽管蒋凡的职级从集团副总裁升为了分管业务大总裁，但调离集团最核心的业务，在外界看来就是一种“流放”，远离了权力中心，明升暗降。甚至有人猜测，蒋凡可能在相当长一段时间内晋升无望，不排除离开阿里巴巴单飞；还有断言，蒋凡调任海外，是阿里巴巴增加海外业务权重的可能性较低。但就国际数字商业集团的成绩看，蒋凡只是离开了一个时刻暴露在聚光灯下的业务，去负责阿里巴巴未来重点想要发展的业务，并没有“躺平”、放弃的意思。2023年一季度，国际数字商业集团整体营收达到185.41亿元，占阿里巴巴集团总营收（2082亿元）的9%，与云业务收入（185.82亿元）基本持平，仅次于淘天集团（前身：中国数字商业板块）；收入同比增速达到29%，处于新拆分的六大集团营收同比增幅首位。2023Q1阿里巴巴集团主要财务情况具体而言，国际零售和国际批发两大板块，贡献了国际数字商业集团的全部收入。一季度，国际零售商业营收达到139.67亿元，同比大幅增长41%；订单量整体同比也了增长15%。其中，Lazada通过优化买家体验，在东南亚市场实现双位数订单同比增长；Trendyol新业务订单增长强劲，季度订单同比增长率保持强韧；速卖通3月以来订单量快速增长，同比去年增幅超50%。相较而言，国际批发商业受市场环境影响，收入增幅（3%）并不大，期内营收为45.74亿元。从业绩表现能够清晰看到，国际数字商业集团的地位与日俱增，与云业务的收入差距正在逐步缩小。一年前，蒋凡刚刚接手这块业务时，两者单季收入差还有46.36亿元左右；一年后，国际数字商业集团就与云业务营收相当了。就连阿里巴巴集团都在财报中指出：随着消费者服务能力与供应链能力齐头并进，海外业务已经逐渐成长为驱动阿里稳健增长的新引擎之一。蒋凡的出海策略业绩大幅增长的背后，很难说没有蒋凡的功劳。自2022年1月上任起，蒋凡就被曝出频繁出差海外，带队到新加坡到欧洲市场考察。事实上，他做的工作远不止调研外部市场这么简单，更多是对组织架构、经营策略、战略方向等的梳理和调整。张勇在2021年底宣布的组织架构调整中，将速卖通、阿里国际站、东南亚电商平台Lazada、土耳其电商平台Trendyol、南亚电商平台Daraz等都划入了“海外数字商业板块（GDC，Global Digital Commerce）”，由蒋凡统管。而在“1+6+N”架构变革中，GDC从阿里巴巴集团分拆出来，成立了阿里巴巴国际数字商业集团（AIDC，Alibaba International Digital Commerce），由阿里巴巴集团董事兼总裁J. Michael EVANS任董事长，蒋凡任董事兼首席执行官，阿里巴巴合伙人彭蕾、淘天集团CEO戴珊、阿里巴巴合伙人吴泳铭任董事。阿里巴巴国际数字商业集团最新董事会成员分拆过后，AIDC的业务模式划分也非常清晰：有to B和to C两条线。其中，面向C端的业务包括跨境电商平台速卖通、淘宝天猫海外，以及外国本土电商平台Lazada、Trendyol、Daraz等；而面向B端的业务就是B2B数字外贸平台Alibaba.com（阿里国际站）。从业务覆盖区域来看，国际站触达全球190余个国家和地区；速卖通主攻欧洲市场，去年也加大了对韩国市场的投入；Lazada主要服务印尼、马来西亚、菲律宾、新加坡、泰国和越南这六个东南亚国家；Trendyol经营土耳其市场、Daraz专注南亚。全天候科技了解到，目前Trendyol和Daraz两大平台虽然并入了AIDC的财务报表，实际是独立运营状态，有自己的董事会；而蒋凡更多的精力，还是投入在速卖通、国际站和Lazada上。“跨境+本地化”，是蒋凡在摸清阿里巴巴海外业务发展情况后，确定并坚持的经营策略。首先，是组织管理的“本地化”，这一点在Lazada业务上表现十分突出。去年6月起，蒋凡从Lazada最高管理层下手，进行了人员大调整：任命董铮接替李纯，担任Lazada新任集团CEO，兼印尼分公司CEO。在此之前，董铮曾是Lazada泰国、越南业务的“一把手”，熟悉东南亚市场的情况。他认为，东南亚六国处于非常不一样的发展阶段，需要因地制宜地匹配业务形态，并推动了Lazada管理人才本土化策略。截至目前，Lazada业务每个国家都有负责当地市场的CEO，除董铮兼任印尼CEO外，其余五国CEO基本是从一线摸爬滚打提拔上来的当地人。其次，做大做强基于中国制造业供应链的跨境零售电商。主要从两方面着手：挖掘新市场、新人群，让业务规模持续扩大；提高补贴效率、完善增值服务，优化商业化变现效率。以速卖通为例，其在去年底向平台商家推出了“全托管服务”，负责店铺运营、仓储、配送、售后服务等环节，从而降低跨境贸易门槛，吸引了更多有供给力缺经营力的商家入驻。今年3月，又向全球消费者推出了新服务Choice，主打极致性价比。指定国家的消费者在Choice下单可享受免运费、免费退货和配送质量保证等服务。在刚刚过去的一季度，速卖通订单同比获得了两位数增长，阿里巴巴则将这部分业绩上升的原因归功于Choice功能的带动。蒋凡在财报电话会上表示，面向未来，国际零售业务依然会坚持跨境+本地模式的投入；跨境市场的潜力依然很大，速卖通将保持快速增长；本地市场中，除了在东南亚市场持续投入，也会积极关注更多新的区域市场机会。庆贺为时过早全球化已经成为互联网下半场，各家企业绕不开的发展课题。特别是在国内流量和用户渗透率接近饱和的时候，海外就成了兵家必争之地。美团点评CEO王兴就曾表示，互联网下半场三大激动人心的机会是“上天、入地、全球化”。阿里巴巴更是在2016年就确定了“内需、全球化、科技”三大战略；之后，张勇也多次在公开场合表达对全球化的重视，认为“全球化是阿里的未来，必须坚决全球买、全球卖、全球运和全球玩”。除了云业务、菜鸟，海外业务天然成为了阿里巴巴全球化战略的重要践行者。“过去几年，阿里巴巴海外市场增长迅速，海外年度活跃消费者已达2.85亿，但距离成为一家真正意义上的全球化公司，距离在潜力广阔的海外市场有更大作为，我们还有很长的路要走。”在任命蒋凡接管海外时，张勇就在内部信中表达了自己的希望，称“期待蒋凡带领团队在海外市场发展中实现更多创新。”按照阿里巴巴的愿景，其目标是到2036年服务全球20亿消费者。阿里目标到2036年服务全球20亿消费者截至2022年3月31日止的12个月，阿里巴巴集团全球年度活跃消费者达约13.1亿。对比国内外看，中国市场实现超10亿消费者的里程碑，显然已经逼近天花板；而13亿年度活跃消费者，只有3.05亿来自海外，未来还有巨大增量空间。但这并不意味着，蒋凡就能不费吹灰之力，一路高歌猛进。相反，摆在他面前的内部挑战和外部困难不少，没有任何一件事是一蹴而就的。AIDC的各业务分部中，Lazada始终深耕东南亚市场，但具体各国存在国情差异，这就不能进行模式全盘复制，而是要有针对性的解决。自2016年斥资收购Lazada控股权以来，阿里巴巴就在搭建海外基础设施，直到今天才基本完成。在巴基斯坦、缅甸、斯里兰卡等五国开设站点的Daraz亦存在Lazada类似的问题；而速卖通在欧洲市场的业务受外部环境影响较大，还需再开辟新市场；Trendyol的主体市场土耳其又相对单一，人口基数小，业务规模有限。这些难点都需要蒋凡带领团队去各个击破。跟自家业务的难点比起来，外部平台的挑战或许更让蒋凡感到压力。踩着直播短视频风口起来的TikTok，在东南亚一路攻城略地。据SenseTower数据，TikTok在印尼约有2亿用户下载量，占到整个东南亚地区40%以上；去年印尼开斋节期间，平台订单量增幅达493%，GMV增幅高达92%。而据招商人员向全天候科技透露，TikTok的月活用户已超16亿，电商业务未来充满想象空间。拼多多海外版Temu在北美市场正做得风生水起，又向着英国、法国、德国、意大利、西班牙、荷兰等欧洲国家进军，发展势头强劲。此外，不少像SHEIN一样的独立站、海外市场的本地化电商平台，也都加入了这场战事，想要尽力分一杯羹。对于蒋凡来说，海外是一个完全陌生的战场，没有任何范本可以照搬，每走一步都得小心翼翼，但他似乎并不担心。在财报电话会上，蒋凡透露，部分业务其实已经有非常好的利润，有一些业务是还在投入期，但整体海外板块是有潜力的。带着AIDC独自发展的他，能否再为阿里巴巴创造惊喜？只有时间能给出答案。","news_type":1},"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":610300745,"gmtCreate":1648485967414,"gmtModify":1648485967414,"author":{"id":"3519254194891755","authorId":"3519254194891755","name":"T111240","avatar":"https://static.tigerbbs.com/8764b9ea7383786f04bfd5ee5a705732","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a>这个价格很值得","listText":"<a href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a>这个价格很值得","text":"$阿里巴巴-SW(09988)$这个价格很值得","images":[{"img":"https://static.tigerbbs.com/19779c29b9cfcf8de8c651211d94958c","width":"750","height":"2198"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/610300745","isVote":1,"tweetType":1,"viewCount":1103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"lives":[]}