$Alibaba(BABA.US)$ The Double 11 Shopping Festival has been with us for 14 years. Unlike the lively “holiday” atmosphere of the Spring Festival Gala in previous years, there is no transaction data for the grand Double 11 Gala this year and the big digital screen scrolling transaction data.
Compared to previous years, this year's Double 11 seems to be much quieter!
However, every year, everyone pays special attention to GMV turnover, but this year the major e-commerce platforms chose not to disclose their actions in unison.
What is the record for the 14th year of Double Eleven?
After the “Double 11” came to an end, Taobao stated in a low-key manner that “it is stable, moderate and positive, and the transaction scale is the same as last year,” and did not publish specific data. JD, on the other hand, said that this year's results surpassed the industry's growth rate, set a new record, and the number of shopping users reached a new high.
Everyone is very tacitly in agreement. Together, we will never mention GMV.
The Double Eleven Shopping Festival began in 2009. Taobao turned what everyone called “Singles' Day” into a large-scale shopping and stocking festival once a year.
The first trial brought about a blowout in the number of users and transaction records, which gave Taobao a sweet taste.
The GMV of the first Double 11 Shopping Festival that year was only 52 million yuan. With the rapid development of e-commerce for more than 10 years, GMV reached 965.12 billion yuan by 2021, and the scale was approaching the trillion yuan mark, which can be described as a record high.
However, after reaching its peak, Double 11 also seemed to have hit its own ceiling. The GMV growth rate began to slow down, and even declined year by year.
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$Meituan ADR(MPNGY.US)$ “Meituan is becoming more and more like a supermarket.
If we were to look at the Meituan (03690.HK) $Meituan-W (03690) $ earnings report using the methods of analyzing traditional e-commerce in the past, we probably wouldn't be able to draw any optimistic conclusions.
In the past 12 months up to the third quarter of this year, the number of Meituan trading users was 687 million, an increase of only 2.9% over the previous year. The corresponding figures revealed in the second quarterly report and the first quarterly report were 685 million and 692 million, respectively. Combined with the year-on-year turning loss into profit in the third quarter of this year, we obtained revenue of 62,618 billion yuan and net profit of 1,217 billion yuan (mainly driven by new business), of which core local businesses achieved operating profit of 9.321 billion yuan, it is easy to ask the following question:
Apart from improving new businesses, does Meituan's core local business have long-term investment value?
After taking a close look at Meituan's three-quarter report, we found that there are many figures that have given an affirmative answer to the above question: for example, the number of active merchants, the total number of financial reports for four consecutive quarters continued to grow; for example, the number of instant delivery transactions this quarter increased by 16.2% and 22.5%, respectively.
As can be seen from these data, merchant trust in Meituan has increased, and demand for Meituan has increased dramatically when the total number of users has not changed much or even declined slightly. Simply based on local e-commerce or even food and beverage takeout reviews...

$Hang Seng Index(800000.HK)$ $E-mini NASDAQ 100 Futures(SEP4)(NQmain.US)$ Hong Kong stock market
The Hang Seng Index opened 0.07% higher to 17673.20 points; the Hang Seng Technology Index fell 0.15%. $TENCENT(00700.HK)$ It fell 1.2%, and $Meituan-W (03690) $ and $Alibaba-SW (09988) $ fell slightly. $Longhu Group (00960) $ rose nearly 3%, and $Country Garden (02007) $ rose more than 1%.
US stock market
November 24 (Thursday) is the US Thanksgiving holiday, and the US stock market is closed for one day. November 25 (Friday) is the day after Thanksgiving. The US stock market will be closed 3 hours earlier, that is, at 02:00 Beijing time the next day.
Major European stock indices closed higher collectively on Thursday. The German DAX30 index rose 0.78%, the British FTSE 100 index rose 0.02%, the French CAC40 index rose 0.42%, and the European Stoxx 50 index rose 0.39%.
futures market
On Thanksgiving Day in the US, the WTI market was closed and there was no settlement price; Brent crude oil futures for January closed down 0.07 US dollars, or 0.08%, to 85.34 US dollars/barrel.
The energy ministers of EU member states met on the 24th to discuss a natural gas price intervention plan. Since Belgium, Spain, Italy...

$Hang Seng Index(800000.HK)$ Hong Kong stock market
On November 24, the Hang Seng Index opened 0.92% higher, and the Hang Seng Technology Index rose 1.13%. The real estate and technology sectors registered the highest gains. $COUNTRY GARDEN(02007.HK)$ The increase of more than 6% led the blue chip increase, and Longhu Group rose more than 5%. $NTES-S(09999.HK)$ Up nearly 4%.
US stock market
US stocks closed higher on Wednesday. The minutes of the Federal Reserve meeting show that most officials believe that the pace of interest rate hikes is expected to slow down “soon,” while Federal Reserve economists believe that the possibility of a US recession next year is as high as 50%. The US unemployment claims data at the beginning of last week and the durable goods order index for October both exceeded expectations, and the consumer confidence index fell to 56.8 in November.
By the close, the Nasdaq was up 0.99%; the Dow Jones index was up 0.28%, the highest closing since April 21; and the S&P 500 was up 0.59%.
Major technology stocks rose collectively, with $Apple (AAPL) $ up 0.59%, $Amazon (AMZN) $ 1.00%, $Meta Platforms (META) $ up 0.72%, $Google (GOOG) $ 1.45%, $Microsoft (MSFT) $ 1.04%, and $Netflix (NFLX) $ 1.68%.
New energy vehicle stocks generally rose, $TESS...