JD.com’s “Qixian Kitchen” introduces a new twist; Block surges 7% overnight
0722 | Dolphin Research Key Focus:
🐬 Stocks
1. $JD.com(JD.US)
On July 20, JD.com opened its first self-operated food delivery store "Qixian Kitchen" in Dongcheng District, Beijing. On July 22, JD.com officially launched the "Dish Partner" recruitment plan, investing 1 billion yuan in cash to recruit partners for 1,000 signature dishes from national restaurant brands and individual chefs. JD.com has a strong fresh food supply chain, which Qixian Kitchen can leverage to reduce the cost of purchasing ingredients, providing a certain development advantage. However, whether consumers are willing to pay a higher price for the higher quality brought by its "self-operated" model remains to be tested by the market.
2. $Alibaba(BABA.US)
On April 29, 2025, Alibaba officially released the third-generation large language model Qwen3, and today launched the flagship version Qwen3-235B-A22B-Instruct-2507-FP8 update. This update focuses on optimizing hybrid inference capabilities, seamlessly integrating "fast thinking" and "slow thinking," supporting a 256K ultra-long context window, and surpassing international top models such as DeepSeek-V3 and Claude-Opus4 in core metrics like mathematical reasoning, code generation, and multilingual processing.
3. $Block(SQ.US)
Block's stock price surged 7% last night, mainly due to the announcement by S&P Dow Jones Indices that Block will be officially included in the S&P 500 index on July 23, replacing Hess Corporation, which exited due to Chevron Corporation's acquisition. This inclusion is seen as a milestone in the fintech sector, significantly enhancing Block's position in the mainstream financial market and triggering early positioning by passive funds.
4. $Netflix(NFLX.US)
Netflix has begun testing generative video software from startup Runway AI in its original content for rapid generation of special effects shots. With the introduction of Runway AI, the cost of special effects shots is reduced, and production cycles are shortened, allowing the saved budget to be invested in multilingual originals, strengthening scheduling advantages; it can also quickly derive short films and games, amplifying IP value. If managed properly, it could bring a certain improvement in content gross margin in the next 2-3 years.
5. Coca-Cola will release its earnings report tonight, and Dolphin Research will track and provide interpretative analysis.
🐬 Leading Sectors
Shanghai and Shenzhen: Residential construction companies, building materials, coal, and consumable fuels;
Hong Kong stocks: Diversified chemicals, various utilities, specialty chemicals;
U.S. stocks: Silver, precious metals and minerals, commercial and residential mortgage finance.
🐬 Focus for Tomorrow
1. None.
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