中国零售及电商周讯（2025年8月29日-9月4日）

Head William KongManager Brigitte Ng HKUST LI & FUNGSUPPLY CHAIN INSTITUTE LSK Business BldgThe Hong Kong University of I. Sector Review.............................................................................................................................2 Internet & E-commerce...............................................................................................................2 Alibaba’s revenue reaches 247.652 billion yuan in June quarter as AI revenue achieves triple-digit growth for eight consecutive quarters................................................................................2Douyin E-commerce’s pet category GMV grows 95% yoy.........................................................2‘Xianyu Outlet’ officially upgrades to ‘ Brand Clearance’............................................................2 Wangfujing’s net profit drops by 72.33% yoy in 1H25................................................................3 Supermarkets & Hypermarkets..................................................................................................3 Freshippo NB upgrades to ‘Chaohesuan NB’ as store count approaches 300...........................3Yonghui Superstores completes renovation of 11 Shanghai locations.......................................4 Home Products...........................................................................................................................4 MINISO LAND global flagship store achieves monthly sales of 16 million yuan.........................4 Starbucks opens Zhejiang’s first intangible cultural heritage-themed store................................5Domino’s China achieves strong growth as revenue and profit hit new highs in 1H25...............5ChaPanda’s single-store GMV increases 15% quarter-over-quarter in 2Q25.............................5 I.Sector Review Internet & E-commerce Alibaba’s revenue reaches 247.652 billion yuan in June quarter as AIrevenue achieves triple-digit growth for eight consecutive quarters On 29 August, Alibaba (阿里巴巴) released its financial results for its fiscal firstquarter for 2026 (ended 30 June 2025). Its revenue reached 247.652 billionyuan for the period, up 2% yoy; net profit was 42.382 billion yuan, up 76% yoy,mainly duetomark-to-market changes from its equity investments and gainsfrom the disposal of local lifestyle service business Trendyol. In the quarter,Alibaba’s capital investment in AI and Cloud infrastructure reached 38.6 billion Douyin E-commerce’s pet category GMV grows 95% yoy In the first seven months of 2025, Douyin E-commerce’s (抖音电商) petcategory demonstrated remarkable growth, achieving an impressive 95% yoyGMV growth. This growth not only reflects rapid market expansion but alsoreveals profound changes in the pet consumption sector. Petconsumption isupgrading from traditional basic needs towards personalized, emotional, and ‘Xianyu Outlet’ officially upgrades to ‘ Brand Clearance’ On 3 September, the ‘Xianyu Outlet’ (闲鱼奥莱) channel on the Xianyu appofficially became the ‘Brand Clearance’ (大牌清仓) channel, while welcoming alarge batch of well-known apparel brands including Semir (森马), ubras,DICKIES, INMAN (茵曼),SCALER (思凯乐), New Balance, and Sancai (三彩). Xiaohongshu E-commerce enters new development phase with focus on According to media reports on 4 September, Xiaohongshu’s (小红书)e-commerce will have a new strategicdirection for this year. Internalassessment indicates that the e-commerce business has completed three yearsof ‘learning’, evolving from the account-store integration model to a buyer model Department Stores & Shopping Malls Wangfujing’s net profit drops by 72.33% yoy in 1H25 On 29 August, WangfujingGroup (王府井集团) released its 2025 interim report.In the first half of this year, the company’s operating revenue was 5.361 billionyuan, down 11.17% yoy; net profit attributable to shareholders of the companywas 81.1047 million yuan, down 72.33% yoy. The revenue decline was mainly Supermarkets & Hypermarkets Freshippo NB upgrades to ‘Chaohesuan NB’ as store count approaches On 29 August, Freshippo’s (盒马)community supermarket chain ‘Freshippo NB’was officially rebranded as ‘Chaohesuan NB’ (超盒算NB). The businessmaintains its positioning as a budget community supermarket and its focus onprivate label products. By the end of August, there were nearly 300Chaohesuan NB stores (including original Freshippo NB stores that are beingrenamed). On the launch day, 17 new stores made their collective debut in 10 Yonghui Superstores completes renovation of 11 Shanghai locations On 4 September, Yonghui Superstores’ (永辉超市) reopened its store in theLongfor Paradise Walk shopping district in Fengxian, Shanghai, the 11thstore inShanghai to undergo renovation following the Pangdonglai (胖东来) model. Thismarks the completion of a phased deployment in Yonghui’s quality retailupgrade strategy in Shanghai. This round of renovations has created over 900 Home Appliances & ConsumerElectronics Suning.