【#李彦宏回应百度被指起大早赶晚集#：我们自己也在想】2025百度世界大会后，百度创始人李彦宏接 受媒体采访。 李彦宏还说："另外一方面，百度这些年有做成的、有做失败的。如果有什么规律性的话，当这件事的 成败几乎完全取决于它技术的先进性的时候，我们的成功概率就会大不少，尤其是这个技术需要很多很 多年的投入和迭代，那我们成功的概率就会更大一些。"（极客公园） 李彦宏表示："我们不能够指望所有的创新尝试都是成功的，创新的特点就是，大多数创新会失败，我 们要接受这样一个现实。所以百度内部可能起过十个不同的创新项目，如果九个都失败了，我认为是很 正常的，它就应该失败，从概率上讲就应该失败，如果有一个成功了，那就非常好。" 在采访中，李彦宏谈到了一个外界非常关注的话题："当然，别人说我们「起大早赶晚集」，这不冒 犯，一些也是事实。甚至我在内部也让大家研讨说，我们为什么会「起大早赶晚集」。" ...

Group 1 - Chery Automobile issued an apology regarding an incident during an extreme challenge test at Tianmen Mountain, where a safety harness unexpectedly detached, causing the vehicle to slide and hit a guardrail, but fortunately no injuries occurred [2] Group 2 - Baidu's founder Li Yanhong highlighted the unhealthy structure of the current AI industry, where chip manufacturing captures most of the value, while model applications receive significantly less, indicating a need for a transition to a healthier large model product structure [3] - Baidu's Wenxin large model 5.0 was officially launched, showcasing improvements in multimodal understanding, creative writing, intelligent planning, and instruction adherence, with a parameter scale exceeding 2.4 trillion [3] Group 3 - Tencent reported a 15% year-on-year revenue increase in Q3 2025, reaching 192.87 billion yuan, with a net profit of 63.13 billion yuan, surpassing expectations [4] - The combined monthly active accounts of WeChat and Weixin reached 1.414 billion, reflecting a 2% year-on-year growth [4] - Tencent's online gaming revenue totaled 63.6 billion yuan, with international market game revenue growing by 43% year-on-year, surpassing 20.8 billion yuan [4] Group 4 - JD Group's Q3 2025 revenue grew by 14.9% year-on-year to 299.1 billion yuan, exceeding expectations, while net profit decreased to 5.3 billion yuan from 11.7 billion yuan in the same period last year [5] - JD's CEO Xu Ran emphasized a long-term strategic approach to the food delivery business, aiming for sustainable growth and independent viability [5] Group 5 - Xiaomi's Yu7 won the Best Structure Award at the 2025 International Die Casting Competition, highlighting the company's commitment to R&D for safer and more reliable vehicles [5] Group 6 - Apple announced a new "Mini Program Partner Program" to expand support for mini programs on the App Store, offering developers an 85% revenue share on eligible in-app purchases, with a 15% commission rate [6] Group 7 - Wang Ziru discussed the controversial betting agreements, advising entrepreneurs to consider such agreements only if they have strong confidence in their industry and projects, using JD's founder Liu Qiangdong as an example of someone who signed many betting agreements due to his confidence in the business [7] Group 8 - Tesla is reportedly testing the integration of Apple CarPlay into its vehicles, marking a potential shift in stance from CEO Elon Musk, who has previously criticized Apple's App Store policies [7] Group 9 - China has completed the first phase of 6G technology trials, accumulating over 300 key technology reserves over the past four years [9] Group 10 - China plans to launch a special plan for power batteries, aiming to promote the development of the new battery industry and establish a carbon management policy framework for power batteries [10]

Group 1 - Warren Buffett officially announced his retirement in the annual shareholder letter of Berkshire Hathaway, marking the end of an era for the legendary investor [4][6] - Buffett will pass the CEO position to his successor Greg Abel by the end of the year, while he will continue to serve as chairman [4][6] - Berkshire Hathaway's cash and cash equivalents reached a record high of $358 billion at the end of the third quarter, which some analysts view as a strategic choice by Buffett to empower Abel for significant acquisition decisions [6][7] Group 2 - The end of Buffett's era signifies a turning point for value investing, with his impressive track record including a compound annual return rate of 20%, double that of the S&P 500 index [8][10] - Buffett favored companies with strong "moats," such as Coca-Cola and American Express, which generated substantial returns for Berkshire Hathaway [10] - His investment philosophy, influenced by Benjamin Graham, emphasized "margin of safety" and buying undervalued stocks, leading to a cautious approach towards technology stocks [10][11] Group 3 - Buffett's reluctance to invest in technology stocks stemmed from a belief that they lacked predictable cash flows and competitive advantages, leading him to miss out on significant opportunities like IBM and Microsoft [11][13] - Despite his initial skepticism, Buffett gradually embraced technology investments, viewing certain tech companies as consumer brands with strong customer loyalty [18][23] - His successful investments in Apple and Amazon were based on their strong market positions and brand loyalty, with Apple becoming Berkshire's largest single investment [23][26] Group 4 - Buffett's investment in BYD, a leading electric vehicle manufacturer, yielded over 40 times returns, showcasing his ability to identify strong companies in emerging sectors [29][31] - Despite the success with BYD, Buffett has consistently avoided investing in Tesla, citing a lack of predictability and high valuations in the automotive industry [33] - In the current AI era, Buffett remains cautious, emphasizing the importance of buying undervalued assets and expressing concerns about the potential risks associated with AI technologies [34]

Core Insights - The core viewpoint of the article highlights the strong financial performance of Damai Entertainment for the fiscal year 2025/26, driven by diversified strategies and the integration of "entertainment + AI" [1] Financial Performance - Damai Entertainment reported total revenue of approximately RMB 4.047 billion, representing a year-on-year growth of 33% [1] - The net profit attributable to shareholders was approximately RMB 520 million, showing a year-on-year increase of 54% [1] Business Segments - The performance of the live content and technology business generated revenue of RMB 1.339 billion, reflecting a year-on-year growth of 15% [1] - The IP derivative business achieved revenue of RMB 1.160 billion, with a remarkable year-on-year growth of 105% [1] User Base and Market Position - The user base of the Damai platform has surpassed 300 million, maintaining a leading position in the global industry [1] Future Strategy - The company plans to focus on business innovation and user value, continuing to invest in high-quality content, expanding into overseas markets, and increasing the scale of IP derivative business [1] - Damai aims to explore new avenues and further enhance the comprehensive upgrade and sustainable development of the real entertainment ecosystem [1]

Core Viewpoint - Users in multiple regions of Qinghai reported sudden interruptions in China Unicom's signal, affecting services such as payments and ride-hailing [2] Group 1: Incident Details - On the evening of November 13, users experienced a disruption in mobile signal due to a communication network failure [2] - China Unicom in Qinghai issued an announcement confirming the signal interruption and stated that the issue has been resolved [2] Group 2: Company Response - China Unicom expressed sincere apologies to users for the inconvenience caused and thanked them for their patience and understanding during the outage [2]

【#京东外卖将成可独立生存业务#】京东集团发布了2025年三季度业绩。三季度，京东集团收入为2991 亿元人民币（约420亿美元），同比增长14.9%，超出预期。净利润53亿元，上年同期净利润117亿元。 京东集团CEO许冉谈及京东外卖业务时表示，"未来，我们会继续以长期的视角来推进战略规划，当然 同时也会考虑长期的投入产出，我们的目标始终是打造可持续发展的商业模式，一方面追求单量的增 长，同时也会逐步释放外卖业务的规模效应，最终外卖业务是一个可以自己独立生存的业务。" 她还谈到，"更加重要的是，京东外卖的业务会深植于整个京东的业务生态，包括用户端、供给端、履 约端都和我们现有的业务有深度融合和创造协同价值的空间，这些业务并不是简单的加减关系。从长期 看，我们的用户获取成本会下降，集团整体也会在保持盈利和现金流充足的基础上，追求可持续增 长。"（新浪科技） ...

Core Insights - The UCCA Gala 2025 charity event took place on November 12 in Shanghai, featuring a collaboration between JD Travel and Château la Coste, with a unique auction item raising 280,000 yuan for UCCA exhibitions and public projects [3][4] Group 1: Event Overview - The UCCA Gala 2025 is a significant annual charity event in the contemporary art sector of China [3] - JD Travel showcased a custom travel package at the event, marking its debut in high-end customized travel services [3] Group 2: Auction Details - The auction item, "Art Winery VIP Experience," was sold for 280,000 yuan, with proceeds supporting UCCA initiatives [3] - The package includes round-trip business class tickets, a 4-day stay in a villa, winery experiences, and a collection of 100 bottles of wine [3][4] Group 3: JD Travel's Services - JD Travel focuses on personalized travel services for art enthusiasts and high-quality travelers, offering both domestic and international custom travel options [4] - The service includes 24/7 dedicated travel consultants and integrates resources from JD Group, such as global rescue services and health packages [4] - Current offerings include themed travel routes like "Italian Renaissance Tour" and "European Art Museum Visit" [4]

Core Insights - Tencent Holdings reported Q3 2025 revenue of 192.9 billion RMB, a year-on-year increase of 15% [1] - Profit attributable to equity holders was 63.1 billion RMB, up 19% year-on-year [1] - Non-IFRS profit attributable to equity holders reached 70.6 billion RMB, reflecting an 18% year-on-year growth [1] Financial Performance - Revenue for Q3 2025 was 192.9 billion RMB, marking a 15% increase compared to the previous year [1] - Profit attributable to equity holders was 63.1 billion RMB, which is a 19% increase year-on-year [1] - Non-IFRS profit attributable to equity holders was 70.6 billion RMB, showing an 18% growth from the previous year [1] Game Business Insights - The international gaming business has seen accelerated growth due to recent acquisitions and the success of the game "Dying Light: Beast" [3] - Future growth in the international gaming segment is expected to slow down, aligning closer to the basic growth trend [3] - The company plans to continue acquiring game studios and promoting self-developed games in global markets [3] Capital Expenditure - Capital expenditure for the quarter was approximately 51.3 billion RMB, with cash payments amounting to 20 billion RMB, indicating a timing difference in server-related expenses [4] - The company anticipates a 221% year-on-year increase in total capital expenditure for 2024, accounting for about 12% of revenue [4] - The updated guidance for 2025 indicates that capital expenditure as a percentage of revenue will be lower than previously expected, although the total amount will exceed that of 2024 [4] AI and Infrastructure Development - The company is actively recruiting top talent for its "Yuanbao" team and optimizing its infrastructure to enhance AI capabilities [4] - "Yuanbao" has been integrated into WeChat, providing various AI functionalities that enhance user experience and engagement [4] - The automated advertising solution AI Plus is expected to improve advertising effectiveness, particularly for small and medium-sized enterprises [5] Cost Management and Efficiency - The increase in sales, general, and administrative expenses, particularly in R&D, is linked to investments in AI [7] - AI investments are projected to enhance revenue and gross margin, with both metrics showing positive growth [7] - The company aims to leverage AI to create more value rather than solely focusing on cost reduction [7]

她还谈到，"更加重要的是，京东外卖的业务会深植于整个京东的业务生态，包括用户端、供给端、履 约端都和我们现有的业务有深度融合和创造协同价值的空间，这些业务并不是简单的加减关系。从长期 看，我们的用户获取成本会下降，集团整体也会在保持盈利和现金流充足的基础上，追求可持续增 长。"（闫妍） 责任编辑：何俊熹 新浪科技讯 11月13日晚间消息，京东集团发布了2025年三季度业绩。三季度，京东集团收入为2991亿 元人民币（约420亿美元），同比增长14.9%，超出预期。净利润53亿元，上年同期净利润117亿元。 京东集团CEO许冉谈及京东外卖业务时表示，"未来，我们会继续以长期的视角来推进战略规划，当然 同时也会考虑长期的投入产出，我们的目标始终是打造可持续发展的商业模式，一方面追求单量的增 长，同时也会逐步释放外卖业务的规模效应，最终外卖业务是一个可以自己独立生存的业务。" ...

Core Insights - Dida Chuxing released the "2025 Dida Ridesharing Commute Observation Report," highlighting trends in ridesharing efficiency and cost based on big data and user surveys [1][2] - Ridesharing commute efficiency has improved for three consecutive years, while costs have decreased over the same period [1] Summary by Sections Commute Efficiency and Cost Trends - In 2025, the average speed for urban and intercity ridesharing commutes is projected to be 40.2 km/h and 56 km/h, representing increases of 9.2% and 14.5% from 2023, respectively [1] - The average cost for urban and intercity ridesharing commutes is expected to be 37.2 yuan and 100.3 yuan, reflecting decreases of 10.4% and 5.8% [1] - The order volume ratio for urban to intercity ridesharing is approximately 3:1 [1] Order Characteristics - Nearly 70% of urban ridesharing orders are for distances over 20 kilometers, while almost 60% of intercity orders exceed 90 kilometers [1] - Most ridesharing routes are between residential areas and office locations, typically offering direct one-stop service [1] City Comparisons - The efficiency of urban ridesharing in first-tier cities is comparable to that in new first-tier cities, with average distances of 32.2 km and 36.5 km, and average speeds of 38.7 km/h and 42.7 km/h, respectively [2] - The top five cities for early morning ridesharing orders (6:00-7:00 AM) are Dongguan, Tianjin, Qingdao, Chongqing, and Beijing [2] - The leading city clusters for intercity ridesharing are the Pearl River Delta, Yangtze River Delta, Beijing-Tianjin-Hebei, Shandong Peninsula, and Chengdu-Chongqing [2] - The top five popular intercity routes include Dongguan-Shenzhen, Suzhou-Shanghai, Langfang-Beijing, Huizhou-Shenzhen, and Guangzhou-Shenzhen [2]