每经AI快讯，11月24日，港股科网股走强，网易(09999.HK)、快手(01024.HK)涨超5%，阿里巴巴 (09988.HK)涨4.5%，百度(09888.HK)、美团(03690.HK)涨3%，京东(09618.HK)涨2.3%，腾讯控股 (00700.HK)涨近2%。 ...

11月21日港股公司回购一览 | 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00700 | 腾讯控股 | 104.20 | 63586.24 | 614.500 | 606.500 | 6350778.60 | | 01810 | 小米集团-W | 800.00 | 30334.68 | 38.040 | 37.640 | 234839.15 | | 09987 | 百胜中国 | 15.93 | 5927.47 | 375.600 | 369.200 | 215918.29 | | 06186 | 中国飞鹤 | 1230.00 | 5140.41 | 4.200 | 4.140 | 73522.42 | | 01024 | 快手-W | 75.00 | 4777.14 | 64.250 | 63.050 | 227807.27 | | 00669 | 创科实业 | 50.00 ...

每经AI快讯，11月24日，港股明星科网股多数走强，网易(09999.HK)涨超4%，快手(01024.HK)涨超 3%，百度(09888.HK)、腾讯控股(00700.HK)涨超2%。 ...

Accessible version Tencent Holdings Addressing key investor inbounds post 3Q25; reiterate sector top pick Reiterate Rating: BUY | PO: 780.00 HKD | Price: 641.00 HKD Balanced AI strategy on application and infra investment Tencent 3Q25 capex of RMB13bn came in below consensus, but mgmt clearly noted this was solely due to chip availability – in fact, Tencent leased additional computing resource in 3Q25 to support AI research and inference. Investors we talked to post results generally understand the dynamic ...

Summary of Key Points from Conference Call Records Industry Overview - **Industry Focus**: Media, Internet, and Education sectors are highlighted for 2026 strategies, with significant emphasis on AI-driven advancements and market dynamics [1][2]. Core Insights and Arguments Advertising Sector - **AI Impact**: AI has significantly improved advertising efficiency, with Tencent's advertising revenue growing by 20% year-over-year in Q2 and continuing to rise in Q3. Kuaishou has made notable progress in user profiling and targeted advertising, while Bilibili achieved over 20% growth through AI enhancements [6][4]. - **Competition**: Third-party programmatic advertising platforms like Huishuangzang Technology and Yidian Tianxia are gaining competitiveness, driving transformation in the advertising industry [1][5]. Gaming Industry - **Regulatory Environment**: The normalization of game license issuance ensures a steady supply of content, supported by a resilient consumer environment. Major companies like Century Huatong and Giant Network are expected to benefit from a concentrated release of new products [7][9]. - **Market Dynamics**: The gaming sector is projected to maintain a high level of activity, driven by product innovation and commercial efficiency. Key players include Tencent, Century Huatong, and Giant Network [14][9]. Instant Retail Market - **Market Growth**: The instant retail market is expected to reach 1.175 trillion yuan by 2026, with a year-on-year growth rate of 28%. Major players like Alibaba, Meituan, and JD.com are heavily investing in this space, although profitability is under pressure due to intense competition [11][8]. - **Consumer Trends**: The county-level market is emerging as a new growth point, supported by the increasing number of rural internet users and their consumption habits [11][10]. Autonomous Driving Sector - **Competitive Landscape**: The autonomous driving sector is entering a price competition phase, with companies like Xpeng and Li Auto differentiating themselves through chip technology and self-driving capabilities. This trend is expected to enhance user experience and drive further development in the electric vehicle industry [12][10]. Short Drama and AI Animation - **Market Expansion**: The short drama market is rapidly growing, with approximately 700 million users in China. The market share of Hongguo exceeds 50%, while companies like China Online and Kunlun Wanwei are performing well in overseas markets, particularly targeting the U.S. [18][1]. - **AI Animation Growth**: The supply of AI animation (dynamic comics) has surged, with a compound monthly growth rate of about 83% in the first half of the year, resulting in over 3,000 works produced and a revenue scale that has increased twelvefold [19][3]. Education Sector - **AI Integration**: AI is increasingly penetrating the education sector, with companies like Dou Shen Education expected to achieve full AI integration by 2026, with AI revenue accounting for 90% of total income. Fenbi Education's AI interview courses are projected to enhance profit margins significantly [20][21]. - **Valuation Appeal**: Dou Shen Education's valuation metrics, such as a PS ratio of around 7 and a PE ratio in the 30s, are considered attractive compared to other sectors, which often see PE ratios of 60-70 [21][20]. Additional Important Insights - **Consumer Resilience**: The macroeconomic environment is supporting consumer resilience, with trends like the "lipstick effect" maintaining consumption levels [9][8]. - **Content Supply Recovery**: The film and television sectors are experiencing a recovery in content supply, with stable growth in box office revenues and favorable policies aiding the industry [17][7]. This summary encapsulates the key points from the conference call records, providing a comprehensive overview of the current trends and future outlooks across various sectors.

| 股票名称 | 回购数 | 回购额 | 年累计回购数量 | 年累计回购数量/总 | | --- | --- | --- | --- | --- | | | | | (股) | 股本 | | 腾讯控股(00700) | 104.20 万 | 6.36 亿 | 7482.80 万 | 0.814% | | 小米集团-W(01810) | 800.00 万 | 3.03 亿 | 4879.54 万 | 0.190% | | 百胜中国(09987) | 15.93 万 | 5927.47 万 | 1372.88 万 | 3.690% | | 中国飞鹤(06186) | 1230.00 万 | 5140.41 万 | 1.71 亿 | 1.889% | | 快手-W(01024) | 75.00 万 | 4777.14 万 | 510.16 万 | 0.119% | | 创科实业(00669) | 50.00 万 | 4308.14 万 | 200.00 万 | 0.109% | | 中远海控(01919) | 300.00 万 | 4058.95 万 | 4318.80 万 | 1.500% | | 中国石油化工股 ...

文 | 新声Pro，作者 | 张嘉琦 生态的战略价值再一次被长视频平台强调，并进入到更具体的实践阶段。 生态建设是宏大命题，也是长视频平台在商业故事上的终局，但这一长期愿景今年在各家平台的战略表 述和业务布局中都体现得更为明显。 一方面，由于行业整体增速放缓，平台需要寻找新的增长路径；另一方面，经过多年积累而形成的IP资 源库，为其打通线上线下生态提供了核心资产。同时，在业务维度上，IP储备和产业纵深能力，也是长 视频与短视频平台竞争的差异化关键。因此，生态构建既是长视频平台应对现实挑战的方向，也是平台 基于自身优势所推进的战略升级。 具体来看，尽管目标一致，但各平台基于各自的资源优势与战略考量，在这条路径上展现了不同的侧重 与特点。 腾讯 在刚结束不久的2026腾讯视频V视界大会上，腾讯公司副总裁、腾讯在线视频董事长孙忠怀提出，「单 打独斗的时代已经过去，真正的壁垒是生态。」基于「用户需要优质内容、品牌需要有温度的沟通」两 个核心需求，腾讯视频的生态，建立在其扎实的IP储备和多个「产业生态」的基础上。 首先是以IP为核心铺开内容版图，将单一项目培养成具备持续性和广泛性的长期资产，以对抗文娱内容 的生命周期。 ...

智通财经APP获悉，京东集团-SWR(89618)、吉利汽车-R(80175)、联想集团-R(80992)上一交易日沽空比 率位于前三位，分别为97.72%、83.19%、82.09%。小米集团-W(01810)、阿里巴巴-SW(09988)、腾讯控 股(00700)的沽空金额位居前三，分别为34.51 亿元、29.29 亿元、25.45 亿元。吉利汽车-R(80175)、中国 平安-R(82318)、上美股份(02145)的偏离值位居前三，分别为45.50%、39.76%、32.10%。 前十大沽空比率排行 备注：以上数据由智通机器人根据港交所数据，经过人工智能运算后自动生成，并不保证数据100%准 确；偏离值为当前股票的沽空比率与该股过去30天平均沽空比率的差值。 | 股票名称 | 沽空金额↓ | 沽空比率 | 偏离值 | | --- | --- | --- | --- | | 小米集团-W(01810) | 34.51 亿元 | 21.83% | 4.87% | | 阿里巴巴-SW(09988) | 29.29 亿元 | 13.96% | -1.80% | | 腾讯控股(00700) | 25.45 亿 ...

NO.1 《少女前线2：追放》官宣十周年IP嘉年华 11月22日，《少女前线2：追放》在当日的特别直播中宣布，将于2026年5月举办少女前线IP嘉年华，而 这一时间节点恰逢系列产品正式走过十年。2016年5月，初代《少女前线》国服安卓版本正式上线。 点评：十周年嘉年华的核心目标之一是吸引新用户入坑、唤醒老玩家回流。通过限时福利活动、情怀向 内容，预计将带动《少女前线2：追放》等产品的日活用户与付费率提升。若嘉年华期间宣布与头部平 台达成战略合作，或透露新游上线时间表，将直接刺激资本市场对IP商业化潜力的评估。 点评：《代号：shoot》开启测试招募的消息传出后，短期内可能会激发市场对腾讯游戏业务的热情。 投资者会基于对腾讯在游戏研发和运营能力的信心，以及PVE射击游戏市场的潜力预期，对腾讯股票产 生积极看法，从而推动其股价在短期内出现一定程度的上涨。同时，与游戏开发、测试、运营等相关联 的上下游企业，如游戏引擎提供商、服务器供应商等，也可能因市场预期的提升而受到带动，股价出现 波动。 NO.3 DNF推出"次元对决"类"吃鸡"玩法 11月22日晚，在备受瞩目的DNF年度发布会上，官方公布了一项重磅消息——全新 ...

生成式AI 二、NotebookLM震撼上线"一键生成幻灯片"功能，这次不一样 1. Google AI笔记神器NotebookLM正式推出"一键生成幻灯片"功能，用户只需上传资料即可在几分钟内生成逻辑清 晰的演示文稿； 2. 提供详细版和演讲版两种核心模式，支持通过提示语精准控制幻灯片风格、受众和重点，输出多种语言满足跨国汇 报需求； 3. 支持在线演示、PDF下载和链接共享多种管理方式，可广泛应用于学生复习、职场汇报和教师培训等多个场景。 https://mp.weixin.qq.com/s/A2DOsQLxGMtXU9h-rwJWlQ 三、Meta再推WorldGen，一句话，「盖」出50×50米一座城 一、Nano Banana Pro的一张AI合影，肉眼难辨，刷爆全网 1. 谷歌Nano Banana Pro出世仅48小时即在LMArena榜单双榜第一，其AI生成的硅谷CEO合影刷爆全网，逼真到肉 眼无法分辨； 2. 该模型基于Gemini 3 Pro，在文字-图像测试中领先第一代84分，在图像编辑中高出41分，可通过坐标生成特定 地点历史事件； 3. 谷歌全栈优势凸显，从DeepMind研究人员搭 ...