中国零售及电商周讯（2025年8月15日-8月21日）

Helen ChinHead William KongManager Brigitte Ng HKUST LI & FUNGSUPPLY CHAIN INSTITUTELSK Business BldgThe Hong Kong University ofScience & TechnologyClear Water Bay KowloonHong KongE:ustlfsci@ust.hk I. Sector Review.........................................................................................................2 Douyin E-commerce to integrate instant retail and e-commerce businesses.............2ANTA partners with Meituan Instashopping with over 1,000 stores joining theplatform.................................................................................................................2Moutai Launches on Taobao Flash Sale: Over 1,000 official stores offer30-minute JD.com’s discount supermarket opens first store nationwide...................................3Yonghui Superstores has net loss of 241 million yuan in 1H25................................3 Apparel....................................................................................................................4 Uniqlo’s sister brand GU closes its first Chinese mainland store on 24 August.........4Luxury.....................................................................................................................4 Food & Beverage.....................................................................................................4 Subway China stores exceed 1,000 with nearly 500 new stores over last two years.4JD.com’s 7Fresh Food MALL to expand nationwide................................................5 Pop Mart’s 1H25 revenue exceeds 2024 full year revenue with IP incubation as coregrowth engine........................................................................................................5MINISO’s same-store GMV growth turns positive in 2Q25, MINISO LAND single-store sales break 100million yuan in nine months...................................................5 II. Market Overview....................................................................................................6 NBS: Total retail sales of consumer goods up by 3.7% yoy in July 2025..................6 I.Sector Review Internet & E-commerce Douyin E-commerce to integrate instant retail and e-commerce On 15August, Douyin E-commerce (抖音电商) revealed that, to help merchantsenhance their operational capabilities and optimize delivery timeframes forusers, Douyin E-commerce will soon integrate its instant retail and e-commercebusinesses, while simultaneously adjusting the teams’ organizational structure. ANTA partners with Meituan Instashopping with over 1,000 stores joining Meituan Instashopping (美团闪购) and ANTA (安踏) announced theirpartnership on 19 August. Over 1,200 ANTA stores have joined MeituanInstashopping, making its full line of products available online, while providingconsumers with a 30-minute delivery service. The two parties expect that 5,000 Moutai Launches on Taobao Flash Sale: Over 1,000 official stores offer On 20 August, Guizhou Moutai (贵州茅台) officially joined Taobao Flash Sale(淘宝闪购). The first batch of over 1,000 stores have gone live on the platform,providing consumers with a 30-minute delivery service. Currently, these storeshave launched product lines including Moutai 1935, Guizhou Daqu, Moutai Kuaishou’s 2Q25 revenue reaches 35 billion yuan with GMV up 17.6% yoy Kuaishou (快手) recently released its financial results for the second quarter of2025. Kuaishou achieved revenue of 35 billion yuan in the second quarter, up13.1% yoy; adjusted net profit was 5.6 billion yuan, up 20.1% yoy. During thisquarter,Kuaishou’sgross margin and adjusted net profit margin both reached Supermarkets & Hypermarkets JD.com’s discount supermarket opens first store nationwide On 16 August, JD.com’s (京东) discount supermarket officially opened its firststore nationwide in Zhuozhou, Hebei. The store is located in Junyue Plaza ofZhuozhou, with a floor area of 5,000 sqm and a carefully selected product lineof over 5,000 value-for-money consumer goods. The Zhuozhou storerepresents JD.com’s scaling up efforts following the Beijing pilot store. This Yonghui Superstores has net loss of 241 million yuan in 1H25 Yonghui Superstores recently released its 2025 interim results. The company’sperformance in the first half of the year worsened significantly, with net profitturning negative. In the first half of 2025, Yonghui Superstores’ operatingrevenue was 29.948 billion yuan, down 20.73% compared to the same period Apparel Uniqlo’s sister brand GU closes its first Chinese mainland store on 24 On 15 August, Uniqlo’s sister brand GU announced that it would close its firststore in the Chinese mainland, located on Huaihai Middle Road in Shanghai, on24 August. After closing its Guangzhou store (16 August) and Shanghai store, Luxury LV’s first global beauty boutique opens at Nanjing Deji Plaza French luxurybrand Louis Vuitton recently opened its first independentfragrance and beauty boutique globally at Nanjing Deji Plaza. The brand alsodebuted its new beau