淘宝闪购背靠着AI把竞争完全升维了，这让美团怎么接？

新浪财经01-16

回头又看了一遍阿里千问发布会，确实有点震撼。对阿里过去大半年重投布局的AI和WAIMAI早晚会合流这件事有预期，只不过没想到这么快。这也意味着在2026年，消费市场的变局将以超乎想象的方式开启。千问App发布会上，吴嘉对着手机说了一句“帮我点40杯霸王茶姬的伯牙绝弦”，几秒内完成选店、下单、支付，骑手半小时左右把奶茶送到现场。这是一个很具体、很难伪装的演示。虽然目前千问接入淘宝闪购、支付宝AI付，...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

股道自然
01-16
股道自然
就一个语音识别就能干倒美团？

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2603930038?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-01-16 09:18","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2603930038","market":"hk","top_or_hot":-1,"title":"淘宝闪购背靠着AI把竞争完全升维了，这让美团怎么接？","media":"新浪财经","content":"<div>\n<p>回头又看了一遍阿里千问发布会，确实有点震撼。对阿里过去大半年重投布局的AI和WAIMAI早晚会合流这件事有预期，只不过没想到这么快。这也意味着在2026年，消费市场的变局将以超乎想象的方式开启。千问App发布会上，吴嘉对着手机说了一句“帮我点40杯霸王茶姬的伯牙绝弦”，几秒内完成选店、下单、支付，骑手半小时左右把奶茶送到现场。这是一个很具体、很难伪装的演示。虽然目前千问接入淘宝闪购、支付宝AI付，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","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>淘宝闪购背靠着AI把竞争完全升维了，这让美团怎么接？</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\">\n淘宝闪购背靠着AI把竞争完全升维了，这让美团怎么接？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-16 09:18 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>回头又看了一遍阿里千问发布会，确实有点震撼。对阿里过去大半年重投布局的AI和WAIMAI早晚会合流这件事有预期，只不过没想到这么快。这也意味着在2026年，消费市场的变局将以超乎想象的方式开启。千问App发布会上，吴嘉对着手机说了一句“帮我点40杯霸王茶姬的伯牙绝弦”，几秒内完成选店、下单、支付，骑手半小时左右把奶茶送到现场。这是一个很具体、很难伪装的演示。虽然目前千问接入淘宝闪购、支付宝AI付，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0502904849.HKD","symbol_name":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b","article_id":"2603930038","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2603930038","pubTimestamp":1768526291,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"虽然目前千问接入淘宝闪购、支付宝AI付，还处在公测和灰度验证阶段，但从行业视角看，这种“现场点、现场到”的展示，已经完全跑通从理解到执行，再到支付技术闭环。作为淘宝闪购的竞争对手们，如果看了这个发布会，肯定是很难坐得住了。这套逻辑下来看，淘宝闪购是要把结构往更可持续的方向推，现在这个叠加AI入口，感觉效果会更明显。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"89988":"阿里巴巴-WR","LU0502904849.HKD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","LU0651947912.USD":"BGF EMERGING MARKETS EQUITY INCOME \"A5G\" (USD) INC","LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU0608807433.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" (USD) ACC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0259732245.USD":"EASTSPRING INVESTMENTS DRAGON PEACOCK A","LU1328277881.USD":"MANULIFE GF DRAGON GROWTH FUND \"AA\" (USD) INC","LU0541502299.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"I\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0819123356.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (HKD) ACC","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1282649141.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (HKD) INC","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","LU0828238088.HKD":"SCHRODER ISF GLBL EMGNG MKT OPPS \"A\" (HKD) ACC","LU1044876610.USD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"ZU\" (USD) ACC","LU0700851271.USD":"NINETY ONE GSF EMERGING MARKETS MULTI-ASSET \"A\" (USD) ACC","LU1642822792.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"A\" (SGD) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","SG9999001903.USD":"Aberdeen Standard Pacific Equity USD","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0011963245.USD":"abrdn SICAV I ASIA PACIFIC SUSTAINAB  LE EQUITY \"A\" (USD) ACC","SG9999006514.SGD":"United Asia Consumer Fund SGD","LU0165289439.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AC\" ACC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU0541501648.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0531970944.HKD":"HSBC GIF BRIC EQUITY \"AC\" (HKD) ACC","LU0164872284.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","IE0003895053.USD":"PINEBRIDGE ASIA DYNAMIC ASSET ALLOCATION \"AD\" USD  ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","SG9999000459.SGD":"Aberdeen Standard Pacific Equity SGD","LU0320764243.SGD":"FTIF - Templeton Emerging Markets A Acc SGD","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0196878994.USD":"MANULIFE GF CHINA VALUE \"AA\" (USD) INC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1504937902.USD":"CT (LUX) I ASIAN EQUITY INCOME \"DUP\" (EUR) INC","LU0052750758.USD":"富兰克林中国基金A Acc","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0611395673.USD":"NINETY ONE GSF EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU1152091168.USD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" INC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU0348788117.USD":"ALLIANZ EMERGING ASIA EQUITY \"A\" (USD) INC","IE00B29SXG58.USD":"FSSA CHINA FOCUS \"I\" (USD) ACC","LU0329678170.USD":"FIDELITY EMERGING ASIA \"A\" (USD) INC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0329678337.USD":"FIDELITY EMERGING ASIA \"A\" (USD)","LU0862451753.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD","LU1688375341.USD":"贝莱德中国灵活股票基金","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU1719994722.HKD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) ACC","LU0762541174.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM2\" (USD) INC","LU0197773160.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AC\" ACC","BK1575":"同股不同权","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0197773673.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AS\" (USD) INC","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","LU0543330566.HKD":"TEMPLETON BRIC \"A\" (HKD) ACC","IE00BZ08YR35.GBP":"GUINNESS BEST OF CHINA \"C\" (GBP) ACC","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU1102505762.USD":"富达新兴市场焦点 A","IE00BZ08YS42.EUR":"GUINNESS BEST OF CHINA \"C\" (EUR) ACC","LU2293587155.HKD":"ALLIANZ ORIENTAL INCOME \"AT\" (HKD) ACC","IE00BZ08YT58.USD":"GUINNESS BEST OF CHINA \"C\" (USD) ACC","LU1152091754.HKD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" (HKD) INC","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","LU0455707207.USD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (USD) INC","LU0886674414.USD":"CT (LUX) I ASIAN EQUITY INCOME \"AUP\" (USD) INC","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","LU0890818403.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD-H","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU0823413587.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) ACC","LU0320764755.SGD":"FTIF - Templeton Asian Growth A Acc SGD","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU2045819591.USD":"Natixis WCM Global Emerging Markets Equity R/A USD","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU2125910849.SGD":"Natixis WCM Global Emerging Markets Equity R/A SGD","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","LU0499858438.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) INC","LU0149534421.HKD":"SCHRODER ISF HONG KONG EQ \"A\" ACC","LU2125910500.SGD":"Natixis WCM Global Emerging Markets Equity H-R/A SGD","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","SG9999001689.USD":"施罗德亚洲成长股票","09988":"阿里巴巴-W","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","SG9999000327.SGD":"Schroder Asian Growth A Dis SGD","LU0326948709.USD":"SCHRODER ISF ASIAN TOTAL RETURN \"A\" (USD) ACC","LU0828237510.HKD":"SCHRODER ISF BIC (BRAZ IN CH)\"A\" (HKD) ACC","LU0823426308.USD":"法巴中国股票基金","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU0051755006.USD":"摩根大通中国A (dist)","BK1589":"北水核心资产","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0054237671.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" INC","BK1618":"Manus概念股","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU1868837565.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"1\" (USD) ACC","LU1044874839.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"AGH\" (SGDHDG) ACC","BK1588":"回港中概股","LU1102505929.USD":"FIDELITY SUSTAINABLE EMERGING MARKETS EQUITY  \"A\" (USD) ACC","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK1615":"港股-互联网","MPNGY":"美团ADR","LU0823426480.USD":"法巴中国股票经典Dis","LU0633140560.USD":"AB EMERGING MARKET MULTI ASSET PORTFOLIO \"A\" (USD) ACC","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC","BK1586":"云计算","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","LU0633140727.USD":"AB EMERGING MARKETS MULTI ASSET PORTFOLIO \"AD\" (USD) INC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU1226287529.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) ACC","LU1568876335.HKD":"ALLIANZ CHINA MULTI INCOME PLUS \"AMG\" (HKD) INC","LU1568876251.USD":"ALLIANZ CHINA MULTI INCOME PLUS \"AMG\" (USD) INC","BK1584":"蚂蚁金服概念","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU1675838814.USD":"AB SICAV I - EMERGING MARKETS LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU0048580855.USD":"富达大中华区A","BK1583":"高瓴概念","LU2476274720.SGD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (SGDHDG) ACC","LU0873338254.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) INC","LU0449515922.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"PC\" (USD)ACC","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU0823041008.USD":"AMUNDI FUNDS EMERGING WORLD EQUITY \"A2\" (USD) ACC","LU0823038988.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) ACC","BABA":"阿里巴巴","LU0823039010.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) INC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","LU0477156797.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"RE\" (USD) ACC","LU1439103000.SGD":"Fidelity Greater China Multi Asset Growth & Income A-MINCOME(G)-SGD","LU0047713382.USD":"BGF EMERGING MARKETS \"A2\" ACC","LU1868838027.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"8\" (USD) ACC","LU1051769294.HKD":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) INC","LU0499858602.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) ACC","LU0261950983.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" ACC","LU0577902454.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU0072462343.USD":"贝莱德亚洲巨龙基金","LU0819121731.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (USD) ACC","LU1770036033.HKD":"NINETY ONE GSF ASIAN EQUITY \"A\" (HKD) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","IE00B031HY20.USD":"FSSA CHINA GROWTH \"I\" (USD) INC","LU1548497426.USD":"安联环球人工智能AT Acc","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU1810669033.SGD":"FTIF - Templeton Emerging Markets Dynamic Income A (Mdis) SGD-H1","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1044875133.USD":"天利亚洲反向股票 AU Acc","LU1993786604.SGD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (SGD) ACC","LU0823413660.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) INC","LU1807302812.USD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (USD) ACC","LU0823397103.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) ACC","IE0008369823.USD":"FSSA HONG KONG GROWTH \"I\" ACC","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","LU2449936058.SGD":"SUSTAINABLE ASIA EQUITY \"AA\" (SGD) ACC","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","LU0672654166.SGD":"FTIF - Templeton Asian Growth A (acc) SGD-H1","LU0823397285.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) INC","BK1502":"双十一","LU0048388663.USD":"SCHRODER ISF ASIAN OPPORTUNITIES \"A\" (USD) INC AV","BK1501":"阿里概念股","LU0683595622.HKD":"AB SICAV I-EM.MKTS MUL.ASS.PTF(AD)","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0543330483.HKD":"TEMPLETON ASIAN GROWTH \"A\" (HKD) ACC","IE00BF5LJ272.USD":"Legg Mason Martin Currie - Global Emerging Markets A Acc USD","LU0254981946.USD":"HSBC GIF BRIC MARKETS EQUITY \"AC\" (USD) ACC","LU0594300179.USD":"FIDELITY CHINA CONSUMER \"A\" (USD) ACC","IE0008368304.USD":"STEWART INVESTORS WORLDWIDE LEADERS SUSTAINABILITY FUND \"I\" (USD) ACC","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU0143863784.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"DU\" (USD) ACC","LU1048484197.HKD":"ALLIANZ CHINA MULTI INCOME PLUS \"AT\" (HKD) ACC","LU0345775950.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) ACC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","LU1323998911.USD":"BGF ASIAN MULTI-ASSET INCOME \"A\" (USD) ACC","LU0106252389.USD":"SCHRODER ISF EMERGING MARKETS \"A\" ACC","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU0143863198.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"AU\" (USD) ACC","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC","LU0048597586.USD":"富达亚洲焦点A","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","SG9999006597.SGD":"United China-India Dynamic Growth SGD","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","LU0831093199.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM3\" (SGDHDG) INC","LU0630378429.USD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (USD) INC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU0630378692.HKD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (HKD) INC","HMTD.SI":"Meituan HK SDR 5to1","BK1608":"元宇宙概念","LU3063872942.SGD":"FULLERTON LUX FUNDS ASIA EQUITIES \"I\" (SGD) ACC","LU2152927971.USD":"NORDEA 1 ASIAN STARS EQUITY \"BP\" (USD) ACC","LU0708995153.HKD":"TEMPLETON EMERGING MARKETS \"A\" (HKD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","LU0345776255.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) INC","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU1960683339.HKD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (HKD) ACC","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU0509642566.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) INC AV","LU0269904917.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) ACC","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","BK1604":"节假日概念","LU0359201612.USD":"贝莱德中国基金A2","LU0096374516.USD":"CT (LUX) I ASIA EQUITY INCOME \"DU\" (USD) ACC","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU0061477393.USD":"CT (LUX) I ASIA EQUITY INCOME \"AU\" (USD) ACC","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","LU0261947096.USD":"FIDELITY FUNDS  SUSTAINABLE ASIA EQUITY \"A\" (USD) ACC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","SG9999001093.SGD":"United Greater China Fund A Acc SGD","BK1610":"ETF&股票定投概念","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU0128522744.USD":"TEMPLETON EMERGING MARKETS \"A\" ACC","LU1769817096.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (USD) INC","LU1769817179.HKD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (HKD) INC","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0607220059.USD":"SCHRODER ISF HONG KONG EQUITY \"A\" (USD) ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","IE00BPRC5H50.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) INC","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU0173614495.USD":"富达中国焦点A","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0608807946.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" Q (USD) INC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","LU0737861772.HKD":"FIDELITY EMERGING ASIA \"A \" (HKD) ACC","SG9999001051.SGD":"United Asia Fund SGD","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","LU0589944569.HKD":"ALLIANZ EMERGING ASIA EQUITY \"AT\" (HKD) ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","LU0865486749.SGD":"Eastspring Investments - Asian Equity Income AS SGD-H","BK1517":"云办公","LU0469268626.HKD":"AB FCP I-ASIA EX JAPAN EQUITY PTF(AD","LU0169518387.USD":"JPM ASIA EQUITY \"A\" ACC","HBBD.SI":"Alibaba HK SDR 5to1","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","LU0675040207.SGD":"JPM ASIA PACIFIC EQUITY \"A\" (SGD) ACC","LU0441854154.USD":"JPM ASIA PACIFIC EQUITY \"A\" (USD) ACC","LU1734074674.USD":"NINETY ONE GSF ASIA PACIFIC FRANCHISE \"A\"(USD) ACC","03690":"美团-W","LU1655091459.SGD":"JPM ASIA PACIFIC INCOME \"A\" (SGD) INC A","LU0029874905.USD":"TEMPLETON EMERGING MARKETS \"A\" INC","LU0210527791.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) ACC","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU0117844026.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC","LU0228659784.USD":"施罗德金砖四国基金","LU0328353924.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERGING MARKETS OPPORTUNITY (USD) \"P\" (USD) ACC","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) ACC","LU0784639295.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC (M)","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU0449509016.USD":"HSBC GIF BRIC EQUITY \"AC\" (USD) ACC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0210526637.USD":"JPM CHINA \"A\" (USD) ACC","BK1142":"互联网与直销零售","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","LU0762542818.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM\" (HKD) INC","LU0862451837.USD":"JPM EMERGING MARKETS DIVIDEND \"A\" (USD) INC (M)","LU1813983027.USD":"MANULIFE GF DRAGON GROWTH \"AA\" (USD) INC","LU1282651121.HKD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) INC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","LU0348783662.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USDHDG) INC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0106259558.USD":"SCHRODER ISF ASIAN OPPORTUNITIES \"A\" ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0651946864.USD":"贝莱德新兴市场股票收益A2","SG9999014674.SGD":"Nikko AM All China Equity A SGD","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0049853897.USD":"SCHRODER ISF EMERGING MARKETS \"A\" (USD) INC AV","LU0577902371.SGD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (SGD) ACC","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","BK1249":"综合零售","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","SG9999002463.SGD":"LionGlobal China Growth SGD","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) INC","IE0008368742.USD":"首域中国增长基金I Acc","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0823040885.USD":"东方汇理新兴市场焦点股票基金","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","LU0396098781.USD":"ALLIANZ CHINA MULTI INCOME PLUS \"AT\" (USD) ACC","LU1224444064.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AM\" (USDHDG) INC","BK1591":"就地过年概念","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","BK1521":"挪威政府全球养老基金持仓","LU2097829019.USD":"AZ EQUITY - BORLETTI GLOBAL LIFESTYLE \"AI\" (USD) ACC","LU0856984785.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"ACH\" (SGDHDG) ACC","LU1224709979.USD":"FIDELITY CHINA FOCUS \"A\" (USD) ACC","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU1720050803.USD":"安联全方位中国股票基金","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","LU0605514214.HKD":"FIDELITY CHINA CONSUMER \"A\" (HKD) ACC","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0791590937.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"A\" (USD)","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","LU2087589342.USD":"BGF ASIAN MULTI-ASSET INCOME \"A6\" (USD) INC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU0132412106.USD":"abrdn SICAV I - EMERGING MARKETS EQUITY \"A\" (USD) ACC","SGXZ90724238.SGD":"UNITED ASIA \"A\" (SGD) INC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0130518102.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"R\" INC","LU0117841782.USD":"JPM GREATER CHINA \"A\" (USD) INC","LU1196710864.SGD":"Schroder ISF Emerging Markets Multi-Asset A Dis SGD-H","LU0235996351.USD":"UBS (LUX) KEY SELECTION SICAV - ASIAN EQUITY (USD) \"P\" (USD) ACC","IE00B0169N27.USD":"STEWARD INVESTORS GLOBAL EMERGING MARKETS LEADERS \"I\" (USD) ACC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU1956131251.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\"MD (USD) INC","LU0594300419.USD":"富达中国消费基金A","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","BK1233":"餐馆","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC"},"translate_title":"Taobao flash sales are backed by AI to completely upgrade the competition. How can Meituan pick up this?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"89988":0.6,"03690":1.91,"ALBmain":0.6,"09988":1.95,"HMTD.SI":0.6,"BABA":1.95,"METmain":0.6,"MPNGY":1.91,"HBBD.SI":0.6},"content_text":"回头又看了一遍阿里千问发布会，确实有点震撼。对阿里过去大半年重投布局的AI和WAIMAI早晚会合流这件事有预期，只不过没想到这么快。这也意味着在2026年，消费市场的变局将以超乎想象的方式开启。千问App发布会上，吴嘉对着手机说了一句“帮我点40杯霸王茶姬的伯牙绝弦”，几秒内完成选店、下单、支付，骑手半小时左右把奶茶送到现场。这是一个很具体、很难伪装的演示。虽然目前千问接入淘宝闪购、支付宝AI付，还处在公测和灰度验证阶段，但从行业视角看，这种“现场点、现场到”的展示，已经完全跑通从理解到执行，再到支付技术闭环。这属于一套可复制、可扩展的能力框架，一旦体验稳定，未来导流弹性会非常大。特别是放到外卖这个高频场景，用户入口在迁移，或者说交互习惯，从“点选操作”迁移到“自然语言对话”。作为淘宝闪购的竞争对手们，如果看了这个发布会，肯定是很难坐得住了。外卖的胜负逻辑开始改变在这之前，讲外卖行业上半场，核心比的是两套能力：一套叫“履约密度”（骑手、站点、路径），一套叫“页面效率”（搜索、筛选、优惠、推荐）。美团长期强在前者，抢市场的话铁军地推，大家也默认“外卖就是这套游戏”。现在千问接入淘宝闪购之后，感觉在不远、且可预见的下个消费周期，游戏规则多了一层——用户第一步不一定要先打开外卖App了，先打开大概率是一个对话框，而且这个对话框是谁不重要，把需求交给系统完成就行了。这完全颠覆了推荐流那套逻辑，要知道包括美团在内的很多平台，都是按照这套逻辑建立起来的商业赚钱模式，过去几年死磕的“列表页优化”，这种边际价值会指数级下降。举个例子，比如我正在减重，“想点一份低脂晚餐，别太辣，30分钟内到”，在传统App里基本要靠自己筛店、翻菜单、看评价、算配送时长，还需要翻一下自己卡包里面哪些券可以用，凑个单什么的，这一套操作任务下来十几分钟就出去了。但是这种个性化相对复杂的需求，交给AI能给你秒回，以一次性把意图拆解成约束条件，再去匹配供给。过去讲用户需求，但很多做产品的人其实都有个共识，用户其实有时候也不知道自己需要的是什么，本质上就只有个意图。现在外卖场景，用户侧从“操作任务”变成“表达意图”，竞争就被抬到更高的维度：谁理解得更准、执行得更稳、闭环更短，未来谁就更容易把用户习惯锁进来。虽然现在只是雏形，离成熟的体验终态肯定还有一段距离，但这带来的想象力和前沿性已经足够惊人。甚至称之为是整个市场升维到下个时代的“奇点”都不为过。支付闭环，关键是要打穿“最后一公里”AI点外卖并不稀奇，关键的是这玩意能端内完成交易闭环。像AI智能体给出来购物建议之类的，其实国外很多大模型都有雏形，很多智能体能推荐、能对话，给你各种购物、机票、订餐建议等等，但几乎都会卡在最后一步。要么跳转，要么让用户自己去跳转付钱。这一步对外卖这种高频场景很致命。因为外卖转化漏斗里，步骤带来犹豫，跳转就是流失。阿里这次把“支付宝AI付”开放给千问做系统级打通，用户授权后，支付可以在千问对话界面内完成，全程不需要跳到别的App。看发布会信息里提到，AI付让操作步骤减少超过60%。从商业效率讲，同样的流量、同样的意图，成交率必然会因为链路变短而提高。另外还有个容易被忽视的量：千问C端上线两个月，月活已经突破1亿。哪怕仅仅把千问当一个“对话入口”，也不算小众产品了，已经具备规模化导流的可能性。而对淘宝闪购来说，这相当于多了一条用户进入路径，而且这条路径天然带“意图表达”的强信号，转化质量也更高。优先拿到下个时代的流量船票，这个会让对手真的很难跟。闪购的优势正在持续放大结合最近阿里释放出来的消息看，淘宝闪购本身这块业务的战略位置是不断抬高的，而且属于长期主义，不是那种“活动冲量、停了就掉”的阶段。据此前1月8日前后流传的FY26Q3（12月季度）业绩前瞻纪要，闪购业绩表现稳中向好。市场流传的口径是，12月季度淘宝闪购GMV份额继续增长，订单结构持续改善，AOV保持增长；同时提到非餐即时零售进展快，媒体也报道非餐订单量稳定在日均1000万单级别。当时我比较关注的一个点是，亏损收敛速度快于竞对，市场预期亏损约200亿这一档。这套逻辑下来看，淘宝闪购是要把结构往更可持续的方向推，现在这个叠加AI入口，感觉效果会更明显。千问接入闪购，能够充当“放大器”的角色，对闪购业务本身结构会进一步重塑，把低效的选择过程交给系统，提升成交转化；把复杂需求拆解成高价值订单，提升结构质量。如果把这部分预期加进去，亏损可能来到前瞻预期的下沿，甚至200亿以下。美团的压力个人感觉，美团现在面对的压力，其实已经不只是“有没有AI点外卖”这么简单了。阿里这次做的，并不是给闪购加个聊天功能，而是把模型、算力、支付、履约和消费场景整合成了一套能真正跑起来的系统，直接落在外卖这种高频业务上。闪购本身就是高度结构化的场景：商家匹配、库存判断、履约路径、支付确认，原本就有完整的数据和流程体系，现在交给AI做的是“理解需求+调度系统”。而这背后，是千问，是阿里过去几年持续重投入堆出来的基础设施。市场统计显示，过去四个季度阿里在AI和云相关资本开支上累计接近1200亿元人民币，同期腾讯大概在700–1000亿，百度约300–500亿，阿里在国内投入力度是最高的，而且管理层还明确提出未来三年投入3800亿用于AI相关建设，内部甚至认为这个数字偏保守。 高盛 给的Capex预期是4600亿。通义千问作为国内最早一批开源的大模型体系，已经覆盖文本、多模态、代码、Agent等多个方向，并在 阿里云 上形成了成熟的推理和部署能力。官方披露的数据里，相关模型下载量早就过亿，企业级调用规模也在持续放量。摩根士丹利 在1月的最新研报里提到，中国AI产业正在从“算力炒作”转向“应用落地定价”，真正有价值的是那些既有庞大用户基础，又能把模型能力转化为商业效率的平台型公司。阿里凭借 云计算 和模型能力的结合，被认为是国内AI落地能力最强的赋能者之一。阿里这几年在算力、模型训练、推理服务和企业级AI平台上的资本开支一直维持高位，这些都是重资产、长周期工程，本质上是在为“AI原生业务形态”提前铺路。而外卖这种高频、标准化、可量化的场景，正好是AI最容易体现效率优势的地方。反过来看美团，履约网络和本地服务密度依然是它现在的核心优势，这一点不会变。但在“AI作为入口和决策中枢”的新维度上，美团需要补的不是一个功能，而是一整套体系：模型能力、支付协同、跨场景数据整合，以及把AI真正嵌入业务流程的工程能力。这种差距，靠几次产品更新很难追平。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[{"id":522263244354688,"gmtCreate":1768541641773,"gmtModify":1768541644523,"author":{"id":"4192259115439500","authorId":"4192259115439500","name":"股道自然","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4192259115439500","authorIdStr":"4192259115439500"},"htmlText":"就一个语音识别就能干倒美团？","listText":"就一个语音识别就能干倒美团？","text":"就一个语音识别就能干倒美团？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/522263244354688","repostId":2603930038,"repostType":2,"repost":{"id":"2603930038","kind":"news","pubTimestamp":1768526291,"share":"https://www.laohu8.com/m/news/2603930038?lang=zh_CN&edition=full","pubTime":"2026-01-16 09:18","market":"hk","language":"zh","title":"淘宝闪购背靠着AI把竞争完全升维了，这让美团怎么接？","url":"https://stock-news.laohu8.com/highlight/detail?id=2603930038","media":"新浪财经","summary":"虽然目前千问接入淘宝闪购、支付宝AI付，还处在公测和灰度验证阶段，但从行业视角看，这种“现场点、现场到”的展示，已经完全跑通从理解到执行，再到支付技术闭环。作为淘宝闪购的竞争对手们，如果看了这个发布会，肯定是很难坐得住了。这套逻辑下来看，淘宝闪购是要把结构往更可持续的方向推，现在这个叠加AI入口，感觉效果会更明显。","content":"<html><body><article><p>回头又看了一遍<a href=\"https://laohu8.com/S/BABA\">阿里</a>千问发布会，确实有点震撼。</p><p>对<a href=\"https://laohu8.com/S/09988\">阿里</a>过去大半年重投布局的AI和WAIMAI早晚会合流这件事有预期，只不过没想到这么快。这也意味着在2026年，消费市场的变局将以超乎想象的方式开启。</p><p>千问App发布会上，吴嘉对着手机说了一句“帮我点40杯<a href=\"https://laohu8.com/S/CHA\">霸王茶姬</a>的伯牙绝弦”，几秒内完成选店、下单、支付，骑手半小时左右把奶茶送到现场。</p><p>这是一个很具体、很难伪装的演示。</p><p>虽然目前千问接入淘宝闪购、支付宝AI付，还处在公测和灰度验证阶段，但从行业视角看，这种“现场点、现场到”的展示，已经完全跑通从理解到执行，再到支付技术闭环。这属于一套可复制、可扩展的能力框架，一旦体验稳定，未来导流弹性会非常大。</p><p>特别是放到外卖这个高频场景，用户入口在迁移，或者说交互习惯，从“点选操作”迁移到“自然语言对话”。作为淘宝闪购的竞争对手们，如果看了这个发布会，肯定是很难坐得住了。</p><p>外卖的胜负逻辑开始改变</p><p>在这之前，讲外卖行业上半场，核心比的是两套能力：一套叫“履约密度”（骑手、站点、路径），一套叫“页面效率”（搜索、筛选、优惠、推荐）。<a href=\"https://laohu8.com/S/MPNGY\">美团</a>长期强在前者，抢市场的话铁军地推，大家也默认“外卖就是这套游戏”。</p><p>现在千问接入淘宝闪购之后，感觉在不远、且可预见的下个消费周期，游戏规则多了一层——用户第一步不一定要先打开外卖App了，先打开大概率是一个对话框，而且这个对话框是谁不重要，把需求交给系统完成就行了。</p><p>这完全颠覆了推荐流那套逻辑，要知道包括<a href=\"https://laohu8.com/S/03690\">美团</a>在内的很多平台，都是按照这套逻辑建立起来的商业赚钱模式，过去几年死磕的“列表页优化”，这种边际价值会指数级下降。</p><p>举个例子，比如我正在减重，“想点一份低脂晚餐，别太辣，30分钟内到”，在传统App里基本要靠自己筛店、翻菜单、看评价、算配送时长，还需要翻一下自己卡包里面哪些券可以用，凑个单什么的，这一套操作任务下来十几分钟就出去了。</p><p>但是这种个性化相对复杂的需求，交给AI能给你秒回，以一次性把意图拆解成约束条件，再去匹配供给。</p><p>过去讲用户需求，但很多做产品的人其实都有个共识，用户其实有时候也不知道自己需要的是什么，本质上就只有个意图。</p><p>现在外卖场景，用户侧从“操作任务”变成“表达意图”，竞争就被抬到更高的维度：谁理解得更准、执行得更稳、闭环更短，未来谁就更容易把用户习惯锁进来。</p><p>虽然现在只是雏形，离成熟的体验终态肯定还有一段距离，但这带来的想象力和前沿性已经足够惊人。</p><p>甚至称之为是整个市场升维到下个时代的“奇点”都不为过。</p><p>支付闭环，关键是要打穿“最后一公里”</p><p>AI点外卖并不稀奇，关键的是这玩意能端内完成交易闭环。</p><p>像AI智能体给出来购物建议之类的，其实国外很多大模型都有雏形，很多智能体能推荐、能对话，给你各种购物、机票、订餐建议等等，但几乎都会卡在最后一步。要么跳转，要么让用户自己去跳转付钱。</p><p>这一步对外卖这种高频场景很致命。因为外卖转化漏斗里，步骤带来犹豫，跳转就是流失。</p><p>阿里这次把“支付宝AI付”开放给千问做系统级打通，用户授权后，支付可以在千问对话界面内完成，全程不需要跳到别的App。看发布会信息里提到，AI付让操作步骤减少超过60%。</p><p>从商业效率讲，同样的流量、同样的意图，成交率必然会因为链路变短而提高。</p><p>另外还有个容易被忽视的量：千问C端上线两个月，月活已经突破1亿。</p><p>哪怕仅仅把千问当一个“对话入口”，也不算小众产品了，已经具备规模化导流的可能性。而对淘宝闪购来说，这相当于多了一条用户进入路径，而且这条路径天然带“意图表达”的强信号，转化质量也更高。</p><p>优先拿到下个时代的流量船票，这个会让对手真的很难跟。</p><p>闪购的优势正在持续放大</p><p>结合最近阿里释放出来的消息看，淘宝闪购本身这块业务的战略位置是不断抬高的，而且属于长期主义，不是那种“活动冲量、停了就掉”的阶段。据此前1月8日前后流传的FY26Q3（12月季度）业绩前瞻纪要，闪购业绩表现稳中向好。</p><p>市场流传的口径是，12月季度淘宝闪购GMV份额继续增长，订单结构持续改善，AOV保持增长；同时提到非餐即时零售进展快，媒体也报道非餐订单量稳定在日均1000万单级别。</p><p>当时我比较关注的一个点是，亏损收敛速度快于竞对，市场预期亏损约200亿这一档。</p><p>这套逻辑下来看，淘宝闪购是要把结构往更可持续的方向推，现在这个叠加AI入口，感觉效果会更明显。</p><p>千问接入闪购，能够充当“放大器”的角色，对闪购业务本身结构会进一步重塑，把低效的选择过程交给系统，提升成交转化；把复杂需求拆解成高价值订单，提升结构质量。</p><p>如果把这部分预期加进去，亏损可能来到前瞻预期的下沿，甚至200亿以下。</p><p>美团的压力</p><p>个人感觉，美团现在面对的压力，其实已经不只是“有没有AI点外卖”这么简单了。</p><p>阿里这次做的，并不是给闪购加个聊天功能，而是把模型、算力、支付、履约和消费场景整合成了一套能真正跑起来的系统，直接落在外卖这种高频业务上。</p><p>闪购本身就是高度结构化的场景：商家匹配、库存判断、履约路径、支付确认，原本就有完整的数据和流程体系，现在交给AI做的是“理解需求+调度系统”。</p><p>而这背后，是千问，是阿里过去几年持续重投入堆出来的基础设施。</p><p>市场统计显示，过去四个季度阿里在AI和云相关资本开支上累计接近1200亿元人民币，同期<a href=\"https://laohu8.com/S/00700\">腾讯</a>大概在700–1000亿，<a href=\"https://laohu8.com/S/BIDU\">百度</a>约300–500亿，阿里在国内投入力度是最高的，而且管理层还明确提出未来三年投入3800亿用于AI相关建设，内部甚至认为这个数字偏保守。 <a href=\"https://laohu8.com/S/GS\">高盛</a> 给的Capex预期是4600亿。</p><p>通义千问作为国内最早一批开源的大模型体系，已经覆盖文本、多模态、代码、Agent等多个方向，并在 阿里云 上形成了成熟的推理和部署能力。官方披露的数据里，相关模型下载量早就过亿，企业级调用规模也在持续放量。</p><p><a href=\"https://laohu8.com/S/MS\">摩根士丹利</a> 在1月的最新研报里提到，中国AI产业正在从“算力炒作”转向“应用落地定价”，真正有价值的是那些既有庞大用户基础，又能把模型能力转化为商业效率的平台型公司。阿里凭借 云计算 和模型能力的结合，被认为是国内AI落地能力最强的赋能者之一。</p><p>阿里这几年在算力、模型训练、推理服务和企业级AI平台上的资本开支一直维持高位，这些都是重<span>资产</span>、长周期工程，本质上是在为“AI原生业务形态”提前铺路。而外卖这种高频、标准化、可量化的场景，正好是AI最容易体现效率优势的地方。</p><p>反过来看美团，履约网络和本地服务密度依然是它现在的核心优势，这一点不会变。但在“AI作为入口和决策中枢”的新维度上，美团需要补的不是一个功能，而是一整套体系：模型能力、支付协同、跨场景数据整合，以及把AI真正嵌入业务流程的工程能力。这种差距，靠几次产品更新很难追平。</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>淘宝闪购背靠着AI把竞争完全升维了，这让美团怎么接？</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\">\n淘宝闪购背靠着AI把竞争完全升维了，这让美团怎么接？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-16 09:18 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>回头又看了一遍阿里千问发布会，确实有点震撼。对阿里过去大半年重投布局的AI和WAIMAI早晚会合流这件事有预期，只不过没想到这么快。这也意味着在2026年，消费市场的变局将以超乎想象的方式开启。千问App发布会上，吴嘉对着手机说了一句“帮我点40杯霸王茶姬的伯牙绝弦”，几秒内完成选店、下单、支付，骑手半小时左右把奶茶送到现场。这是一个很具体、很难伪装的演示。虽然目前千问接入淘宝闪购、支付宝AI付，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b\">网页链接</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-WR","LU0502904849.HKD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","LU0651947912.USD":"BGF EMERGING MARKETS EQUITY INCOME \"A5G\" (USD) INC","LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU0608807433.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" (USD) ACC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0259732245.USD":"EASTSPRING INVESTMENTS DRAGON PEACOCK A","LU1328277881.USD":"MANULIFE GF DRAGON GROWTH FUND \"AA\" (USD) INC","LU0541502299.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"I\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0819123356.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (HKD) ACC","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1282649141.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (HKD) INC","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","LU0828238088.HKD":"SCHRODER ISF GLBL EMGNG MKT OPPS \"A\" (HKD) ACC","LU1044876610.USD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"ZU\" (USD) ACC","LU0700851271.USD":"NINETY ONE GSF EMERGING MARKETS MULTI-ASSET \"A\" (USD) ACC","LU1642822792.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"A\" (SGD) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","SG9999001903.USD":"Aberdeen Standard Pacific Equity USD","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0011963245.USD":"abrdn SICAV I ASIA PACIFIC SUSTAINAB  LE EQUITY \"A\" (USD) ACC","SG9999006514.SGD":"United Asia Consumer Fund SGD","LU0165289439.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AC\" ACC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU0541501648.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0531970944.HKD":"HSBC GIF BRIC EQUITY \"AC\" (HKD) ACC","LU0164872284.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","IE0003895053.USD":"PINEBRIDGE ASIA DYNAMIC ASSET ALLOCATION \"AD\" USD  ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","SG9999000459.SGD":"Aberdeen Standard Pacific Equity SGD","LU0320764243.SGD":"FTIF - Templeton Emerging Markets A Acc SGD","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0196878994.USD":"MANULIFE GF CHINA VALUE \"AA\" (USD) INC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1504937902.USD":"CT (LUX) I ASIAN EQUITY INCOME \"DUP\" (EUR) INC","LU0052750758.USD":"富兰克林中国基金A Acc","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0611395673.USD":"NINETY ONE GSF EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU1152091168.USD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" INC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU0348788117.USD":"ALLIANZ EMERGING ASIA EQUITY \"A\" (USD) INC","IE00B29SXG58.USD":"FSSA CHINA FOCUS \"I\" (USD) ACC","LU0329678170.USD":"FIDELITY EMERGING ASIA \"A\" (USD) INC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0329678337.USD":"FIDELITY EMERGING ASIA \"A\" (USD)","LU0862451753.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD","LU1688375341.USD":"贝莱德中国灵活股票基金","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU1719994722.HKD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) ACC","LU0762541174.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM2\" (USD) INC","LU0197773160.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AC\" ACC","BK1575":"同股不同权","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0197773673.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AS\" (USD) INC","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","LU0543330566.HKD":"TEMPLETON BRIC \"A\" (HKD) ACC","IE00BZ08YR35.GBP":"GUINNESS BEST OF CHINA \"C\" (GBP) ACC","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU1102505762.USD":"富达新兴市场焦点 A","IE00BZ08YS42.EUR":"GUINNESS BEST OF CHINA \"C\" (EUR) ACC","LU2293587155.HKD":"ALLIANZ ORIENTAL INCOME \"AT\" (HKD) ACC","IE00BZ08YT58.USD":"GUINNESS BEST OF CHINA \"C\" (USD) ACC","LU1152091754.HKD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" (HKD) INC","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","LU0455707207.USD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (USD) INC","LU0886674414.USD":"CT (LUX) I ASIAN EQUITY INCOME \"AUP\" (USD) INC","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","LU0890818403.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD-H","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU0823413587.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) ACC","LU0320764755.SGD":"FTIF - Templeton Asian Growth A Acc SGD","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU2045819591.USD":"Natixis WCM Global Emerging Markets Equity R/A USD","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU2125910849.SGD":"Natixis WCM Global Emerging Markets Equity R/A SGD","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","LU0499858438.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) INC","LU0149534421.HKD":"SCHRODER ISF HONG KONG EQ \"A\" ACC","LU2125910500.SGD":"Natixis WCM Global Emerging Markets Equity H-R/A SGD","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","SG9999001689.USD":"施罗德亚洲成长股票","09988":"阿里巴巴-W","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","SG9999000327.SGD":"Schroder Asian Growth A Dis SGD","LU0326948709.USD":"SCHRODER ISF ASIAN TOTAL RETURN \"A\" (USD) ACC","LU0828237510.HKD":"SCHRODER ISF BIC (BRAZ IN CH)\"A\" (HKD) ACC","LU0823426308.USD":"法巴中国股票基金","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU0051755006.USD":"摩根大通中国A (dist)","BK1589":"北水核心资产","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0054237671.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" INC","BK1618":"Manus概念股","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU1868837565.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"1\" (USD) ACC","LU1044874839.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"AGH\" (SGDHDG) ACC","BK1588":"回港中概股","LU1102505929.USD":"FIDELITY SUSTAINABLE EMERGING MARKETS EQUITY  \"A\" (USD) ACC","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK1615":"港股-互联网","MPNGY":"美团ADR","LU0823426480.USD":"法巴中国股票经典Dis","LU0633140560.USD":"AB EMERGING MARKET MULTI ASSET PORTFOLIO \"A\" (USD) ACC","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC","BK1586":"云计算","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","LU0633140727.USD":"AB EMERGING MARKETS MULTI ASSET PORTFOLIO \"AD\" (USD) INC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU1226287529.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) ACC","LU1568876335.HKD":"ALLIANZ CHINA MULTI INCOME PLUS \"AMG\" (HKD) INC","LU1568876251.USD":"ALLIANZ CHINA MULTI INCOME PLUS \"AMG\" (USD) INC","BK1584":"蚂蚁金服概念","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU1675838814.USD":"AB SICAV I - EMERGING MARKETS LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU0048580855.USD":"富达大中华区A","BK1583":"高瓴概念","LU2476274720.SGD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (SGDHDG) ACC","LU0873338254.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) INC","LU0449515922.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"PC\" (USD)ACC","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU0823041008.USD":"AMUNDI FUNDS EMERGING WORLD EQUITY \"A2\" (USD) ACC","LU0823038988.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) ACC","BABA":"阿里巴巴","LU0823039010.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) INC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","LU0477156797.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"RE\" (USD) ACC","LU1439103000.SGD":"Fidelity Greater China Multi Asset Growth & Income A-MINCOME(G)-SGD","LU0047713382.USD":"BGF EMERGING MARKETS \"A2\" ACC","LU1868838027.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"8\" (USD) ACC","LU1051769294.HKD":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) INC","LU0499858602.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) ACC","LU0261950983.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" ACC","LU0577902454.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU0072462343.USD":"贝莱德亚洲巨龙基金","LU0819121731.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (USD) ACC","LU1770036033.HKD":"NINETY ONE GSF ASIAN EQUITY \"A\" (HKD) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","IE00B031HY20.USD":"FSSA CHINA GROWTH \"I\" (USD) INC","LU1548497426.USD":"安联环球人工智能AT Acc","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU1810669033.SGD":"FTIF - Templeton Emerging Markets Dynamic Income A (Mdis) SGD-H1","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1044875133.USD":"天利亚洲反向股票 AU Acc","LU1993786604.SGD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (SGD) ACC","LU0823413660.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) INC","LU1807302812.USD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (USD) ACC","LU0823397103.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) ACC","IE0008369823.USD":"FSSA HONG KONG GROWTH \"I\" ACC","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","LU2449936058.SGD":"SUSTAINABLE ASIA EQUITY \"AA\" (SGD) ACC","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","LU0672654166.SGD":"FTIF - Templeton Asian Growth A (acc) SGD-H1","LU0823397285.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) INC","BK1502":"双十一","LU0048388663.USD":"SCHRODER ISF ASIAN OPPORTUNITIES \"A\" (USD) INC AV","BK1501":"阿里概念股","LU0683595622.HKD":"AB SICAV I-EM.MKTS MUL.ASS.PTF(AD)","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0543330483.HKD":"TEMPLETON ASIAN GROWTH \"A\" (HKD) ACC","IE00BF5LJ272.USD":"Legg Mason Martin Currie - Global Emerging Markets A Acc USD","LU0254981946.USD":"HSBC GIF BRIC MARKETS EQUITY \"AC\" (USD) ACC","LU0594300179.USD":"FIDELITY CHINA CONSUMER \"A\" (USD) ACC","IE0008368304.USD":"STEWART INVESTORS WORLDWIDE LEADERS SUSTAINABILITY FUND \"I\" (USD) ACC","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU0143863784.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"DU\" (USD) ACC","LU1048484197.HKD":"ALLIANZ CHINA MULTI INCOME PLUS \"AT\" (HKD) ACC","LU0345775950.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) ACC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","LU1323998911.USD":"BGF ASIAN MULTI-ASSET INCOME \"A\" (USD) ACC","LU0106252389.USD":"SCHRODER ISF EMERGING MARKETS \"A\" ACC","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU0143863198.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"AU\" (USD) ACC","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC","LU0048597586.USD":"富达亚洲焦点A","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","SG9999006597.SGD":"United China-India Dynamic Growth SGD","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","LU0831093199.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM3\" (SGDHDG) INC","LU0630378429.USD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (USD) INC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU0630378692.HKD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (HKD) INC","HMTD.SI":"Meituan HK SDR 5to1","BK1608":"元宇宙概念","LU3063872942.SGD":"FULLERTON LUX FUNDS ASIA EQUITIES \"I\" (SGD) ACC","LU2152927971.USD":"NORDEA 1 ASIAN STARS EQUITY \"BP\" (USD) ACC","LU0708995153.HKD":"TEMPLETON EMERGING MARKETS \"A\" (HKD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","LU0345776255.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) INC","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU1960683339.HKD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (HKD) ACC","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU0509642566.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) INC AV","LU0269904917.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) ACC","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","BK1604":"节假日概念","LU0359201612.USD":"贝莱德中国基金A2","LU0096374516.USD":"CT (LUX) I ASIA EQUITY INCOME \"DU\" (USD) ACC","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU0061477393.USD":"CT (LUX) I ASIA EQUITY INCOME \"AU\" (USD) ACC","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","LU0261947096.USD":"FIDELITY FUNDS  SUSTAINABLE ASIA EQUITY \"A\" (USD) ACC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","SG9999001093.SGD":"United Greater China Fund A Acc SGD","BK1610":"ETF&股票定投概念","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU0128522744.USD":"TEMPLETON EMERGING MARKETS \"A\" ACC","LU1769817096.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (USD) INC","LU1769817179.HKD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (HKD) INC","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0607220059.USD":"SCHRODER ISF HONG KONG EQUITY \"A\" (USD) ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","IE00BPRC5H50.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) INC","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU0173614495.USD":"富达中国焦点A","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0608807946.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" Q (USD) INC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","LU0737861772.HKD":"FIDELITY EMERGING ASIA \"A \" (HKD) ACC","SG9999001051.SGD":"United Asia Fund SGD","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","LU0589944569.HKD":"ALLIANZ EMERGING ASIA EQUITY \"AT\" (HKD) ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","LU0865486749.SGD":"Eastspring Investments - Asian Equity Income AS SGD-H","BK1517":"云办公","LU0469268626.HKD":"AB FCP I-ASIA EX JAPAN EQUITY PTF(AD","LU0169518387.USD":"JPM ASIA EQUITY \"A\" ACC","HBBD.SI":"Alibaba HK SDR 5to1","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","LU0675040207.SGD":"JPM ASIA PACIFIC EQUITY \"A\" (SGD) ACC","LU0441854154.USD":"JPM ASIA PACIFIC EQUITY \"A\" (USD) ACC","LU1734074674.USD":"NINETY ONE GSF ASIA PACIFIC FRANCHISE \"A\"(USD) ACC","03690":"美团-W","LU1655091459.SGD":"JPM ASIA PACIFIC INCOME \"A\" (SGD) INC A","LU0029874905.USD":"TEMPLETON EMERGING MARKETS \"A\" INC","LU0210527791.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) ACC","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU0117844026.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC","LU0228659784.USD":"施罗德金砖四国基金","LU0328353924.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERGING MARKETS OPPORTUNITY (USD) \"P\" (USD) ACC","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) ACC","LU0784639295.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC (M)","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU0449509016.USD":"HSBC GIF BRIC EQUITY \"AC\" (USD) ACC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0210526637.USD":"JPM CHINA \"A\" (USD) ACC","BK1142":"互联网与直销零售","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","LU0762542818.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM\" (HKD) INC","LU0862451837.USD":"JPM EMERGING MARKETS DIVIDEND \"A\" (USD) INC (M)","LU1813983027.USD":"MANULIFE GF DRAGON GROWTH \"AA\" (USD) INC","LU1282651121.HKD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) INC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","LU0348783662.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USDHDG) INC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0106259558.USD":"SCHRODER ISF ASIAN OPPORTUNITIES \"A\" ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0651946864.USD":"贝莱德新兴市场股票收益A2","SG9999014674.SGD":"Nikko AM All China Equity A SGD","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0049853897.USD":"SCHRODER ISF EMERGING MARKETS \"A\" (USD) INC AV","LU0577902371.SGD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (SGD) ACC","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","BK1249":"综合零售","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","SG9999002463.SGD":"LionGlobal China Growth SGD","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) INC","IE0008368742.USD":"首域中国增长基金I Acc","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0823040885.USD":"东方汇理新兴市场焦点股票基金","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","LU0396098781.USD":"ALLIANZ CHINA MULTI INCOME PLUS \"AT\" (USD) ACC","LU1224444064.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AM\" (USDHDG) INC","BK1591":"就地过年概念","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","BK1521":"挪威政府全球养老基金持仓","LU2097829019.USD":"AZ EQUITY - BORLETTI GLOBAL LIFESTYLE \"AI\" (USD) ACC","LU0856984785.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"ACH\" (SGDHDG) ACC","LU1224709979.USD":"FIDELITY CHINA FOCUS \"A\" (USD) ACC","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU1720050803.USD":"安联全方位中国股票基金","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","LU0605514214.HKD":"FIDELITY CHINA CONSUMER \"A\" (HKD) ACC","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0791590937.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"A\" (USD)","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","LU2087589342.USD":"BGF ASIAN MULTI-ASSET INCOME \"A6\" (USD) INC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU0132412106.USD":"abrdn SICAV I - EMERGING MARKETS EQUITY \"A\" (USD) ACC","SGXZ90724238.SGD":"UNITED ASIA \"A\" (SGD) INC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0130518102.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"R\" INC","LU0117841782.USD":"JPM GREATER CHINA \"A\" (USD) INC","LU1196710864.SGD":"Schroder ISF Emerging Markets Multi-Asset A Dis SGD-H","LU0235996351.USD":"UBS (LUX) KEY SELECTION SICAV - ASIAN EQUITY (USD) \"P\" (USD) ACC","IE00B0169N27.USD":"STEWARD INVESTORS GLOBAL EMERGING MARKETS LEADERS \"I\" (USD) ACC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU1956131251.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\"MD (USD) INC","LU0594300419.USD":"富达中国消费基金A","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","BK1233":"餐馆","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260116092752a4c9a9a0&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2603930038","content_text":"回头又看了一遍阿里千问发布会，确实有点震撼。对阿里过去大半年重投布局的AI和WAIMAI早晚会合流这件事有预期，只不过没想到这么快。这也意味着在2026年，消费市场的变局将以超乎想象的方式开启。千问App发布会上，吴嘉对着手机说了一句“帮我点40杯霸王茶姬的伯牙绝弦”，几秒内完成选店、下单、支付，骑手半小时左右把奶茶送到现场。这是一个很具体、很难伪装的演示。虽然目前千问接入淘宝闪购、支付宝AI付，还处在公测和灰度验证阶段，但从行业视角看，这种“现场点、现场到”的展示，已经完全跑通从理解到执行，再到支付技术闭环。这属于一套可复制、可扩展的能力框架，一旦体验稳定，未来导流弹性会非常大。特别是放到外卖这个高频场景，用户入口在迁移，或者说交互习惯，从“点选操作”迁移到“自然语言对话”。作为淘宝闪购的竞争对手们，如果看了这个发布会，肯定是很难坐得住了。外卖的胜负逻辑开始改变在这之前，讲外卖行业上半场，核心比的是两套能力：一套叫“履约密度”（骑手、站点、路径），一套叫“页面效率”（搜索、筛选、优惠、推荐）。美团长期强在前者，抢市场的话铁军地推，大家也默认“外卖就是这套游戏”。现在千问接入淘宝闪购之后，感觉在不远、且可预见的下个消费周期，游戏规则多了一层——用户第一步不一定要先打开外卖App了，先打开大概率是一个对话框，而且这个对话框是谁不重要，把需求交给系统完成就行了。这完全颠覆了推荐流那套逻辑，要知道包括美团在内的很多平台，都是按照这套逻辑建立起来的商业赚钱模式，过去几年死磕的“列表页优化”，这种边际价值会指数级下降。举个例子，比如我正在减重，“想点一份低脂晚餐，别太辣，30分钟内到”，在传统App里基本要靠自己筛店、翻菜单、看评价、算配送时长，还需要翻一下自己卡包里面哪些券可以用，凑个单什么的，这一套操作任务下来十几分钟就出去了。但是这种个性化相对复杂的需求，交给AI能给你秒回，以一次性把意图拆解成约束条件，再去匹配供给。过去讲用户需求，但很多做产品的人其实都有个共识，用户其实有时候也不知道自己需要的是什么，本质上就只有个意图。现在外卖场景，用户侧从“操作任务”变成“表达意图”，竞争就被抬到更高的维度：谁理解得更准、执行得更稳、闭环更短，未来谁就更容易把用户习惯锁进来。虽然现在只是雏形，离成熟的体验终态肯定还有一段距离，但这带来的想象力和前沿性已经足够惊人。甚至称之为是整个市场升维到下个时代的“奇点”都不为过。支付闭环，关键是要打穿“最后一公里”AI点外卖并不稀奇，关键的是这玩意能端内完成交易闭环。像AI智能体给出来购物建议之类的，其实国外很多大模型都有雏形，很多智能体能推荐、能对话，给你各种购物、机票、订餐建议等等，但几乎都会卡在最后一步。要么跳转，要么让用户自己去跳转付钱。这一步对外卖这种高频场景很致命。因为外卖转化漏斗里，步骤带来犹豫，跳转就是流失。阿里这次把“支付宝AI付”开放给千问做系统级打通，用户授权后，支付可以在千问对话界面内完成，全程不需要跳到别的App。看发布会信息里提到，AI付让操作步骤减少超过60%。从商业效率讲，同样的流量、同样的意图，成交率必然会因为链路变短而提高。另外还有个容易被忽视的量：千问C端上线两个月，月活已经突破1亿。哪怕仅仅把千问当一个“对话入口”，也不算小众产品了，已经具备规模化导流的可能性。而对淘宝闪购来说，这相当于多了一条用户进入路径，而且这条路径天然带“意图表达”的强信号，转化质量也更高。优先拿到下个时代的流量船票，这个会让对手真的很难跟。闪购的优势正在持续放大结合最近阿里释放出来的消息看，淘宝闪购本身这块业务的战略位置是不断抬高的，而且属于长期主义，不是那种“活动冲量、停了就掉”的阶段。据此前1月8日前后流传的FY26Q3（12月季度）业绩前瞻纪要，闪购业绩表现稳中向好。市场流传的口径是，12月季度淘宝闪购GMV份额继续增长，订单结构持续改善，AOV保持增长；同时提到非餐即时零售进展快，媒体也报道非餐订单量稳定在日均1000万单级别。当时我比较关注的一个点是，亏损收敛速度快于竞对，市场预期亏损约200亿这一档。这套逻辑下来看，淘宝闪购是要把结构往更可持续的方向推，现在这个叠加AI入口，感觉效果会更明显。千问接入闪购，能够充当“放大器”的角色，对闪购业务本身结构会进一步重塑，把低效的选择过程交给系统，提升成交转化；把复杂需求拆解成高价值订单，提升结构质量。如果把这部分预期加进去，亏损可能来到前瞻预期的下沿，甚至200亿以下。美团的压力个人感觉，美团现在面对的压力，其实已经不只是“有没有AI点外卖”这么简单了。阿里这次做的，并不是给闪购加个聊天功能，而是把模型、算力、支付、履约和消费场景整合成了一套能真正跑起来的系统，直接落在外卖这种高频业务上。闪购本身就是高度结构化的场景：商家匹配、库存判断、履约路径、支付确认，原本就有完整的数据和流程体系，现在交给AI做的是“理解需求+调度系统”。而这背后，是千问，是阿里过去几年持续重投入堆出来的基础设施。市场统计显示，过去四个季度阿里在AI和云相关资本开支上累计接近1200亿元人民币，同期腾讯大概在700–1000亿，百度约300–500亿，阿里在国内投入力度是最高的，而且管理层还明确提出未来三年投入3800亿用于AI相关建设，内部甚至认为这个数字偏保守。 高盛 给的Capex预期是4600亿。通义千问作为国内最早一批开源的大模型体系，已经覆盖文本、多模态、代码、Agent等多个方向，并在 阿里云 上形成了成熟的推理和部署能力。官方披露的数据里，相关模型下载量早就过亿，企业级调用规模也在持续放量。摩根士丹利 在1月的最新研报里提到，中国AI产业正在从“算力炒作”转向“应用落地定价”，真正有价值的是那些既有庞大用户基础，又能把模型能力转化为商业效率的平台型公司。阿里凭借 云计算 和模型能力的结合，被认为是国内AI落地能力最强的赋能者之一。阿里这几年在算力、模型训练、推理服务和企业级AI平台上的资本开支一直维持高位，这些都是重资产、长周期工程，本质上是在为“AI原生业务形态”提前铺路。而外卖这种高频、标准化、可量化的场景，正好是AI最容易体现效率优势的地方。反过来看美团，履约网络和本地服务密度依然是它现在的核心优势，这一点不会变。但在“AI作为入口和决策中枢”的新维度上，美团需要补的不是一个功能，而是一整套体系：模型能力、支付协同、跨场景数据整合，以及把AI真正嵌入业务流程的工程能力。这种差距，靠几次产品更新很难追平。","news_type":1,"symbols_score_info":{"89988":0.6,"03690":1.91,"ALBmain":0.6,"09988":1.95,"HMTD.SI":0.6,"BABA":1.95,"METmain":0.6,"MPNGY":1.91,"HBBD.SI":0.6}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2603930038","isCrawlerRequest":true}