来源：格隆汇APP 11月12日，南下资金今日净买入港股42.86亿港元。 其中：净买入小米集团-W 15.92亿、小鹏汽车-W 7.17亿、泡泡玛特6.3亿、中国海洋石油4.11亿、协鑫 科技3.16亿、中国人寿3.03亿、腾讯控股1.57亿；净卖出阿里巴巴-W 34.34亿、华虹半导体9.84亿、中芯 国际4.27亿、中国移动1.33亿。 据统计，南下资金已连续11日净买入小米，共计81.3635亿港元；连续4日净买入中海油，共计28.2105亿 港元；连续3日净买入泡泡玛特，共计14.5466亿港元；连续5日净卖出阿里，共计67.8084亿港元；连续4 日净卖出美团，共计4.6121亿港元；连续3日净卖出中芯国际，共计10.8281亿港元；连续3日净卖出华虹 半导体，共计15.2638亿港元。 北水关注个股 小米集团：小米公司表示，截至11月11日23:59:59，全渠道累计支付金额破290亿元。此外，高盛维持对 小米"买入"评级，12个月目标价为56.5港元。长期而言，高盛相信小米稳健的资产负债表、强大的生态 系统整合能力，以及因规模和深入参与电动车供应链而产生的成本优势，将提升其在电动车领域的竞争 ...

Core Insights - The core idea of the article revolves around the investment philosophy of Duan Yongping, emphasizing that "buying stocks means buying companies" and the importance of truly understanding the business behind the stock [5][19]. Group 1: Investment Philosophy - Duan Yongping believes that understanding a company is crucial for successful investing, and that most companies are difficult to comprehend [19][31]. - He emphasizes that many investors can make money without fully understanding the companies they invest in, highlighting the complexity of investment [9][31]. - The concept of "safety margin" is redefined by Duan as the depth of understanding one has about a company, rather than just its price [12][34]. Group 2: Company Analysis - Duan's investment in NetEase was based on his background in gaming and his belief in the company's potential, which led to a significant return on investment [32][34]. - He expresses confidence in Apple due to its strong corporate culture and user-oriented approach, which he believes will sustain its success [39][46]. - Duan acknowledges the challenges in understanding companies like Tesla and Nvidia, but recognizes their innovative potential and market position [61][56]. Group 3: Market Behavior and Company Culture - Duan discusses the importance of company culture, stating that a good culture can help a company correct its mistakes and stay on the right path [15][43]. - He believes that maintaining rationality in investment decisions is challenging, especially when market dynamics are volatile [13][33]. - The article highlights that Duan's investment strategy is cautious, focusing on companies with strong fundamentals and avoiding speculative investments [70][72]. Group 4: Specific Company Insights - Duan has a significant position in Moutai, viewing it as a unique brand with a loyal consumer base, and believes its corporate culture will help maintain its quality [72][74]. - He expresses skepticism about the long-term viability of electric vehicle companies, suggesting that the market may become oversaturated [63][64]. - Duan's investment in Pinduoduo reflects a cautious optimism, acknowledging the risks while recognizing the company's potential for growth [70][71].

智通财经11月12日讯（编辑 冯轶）据Wind数据显示，南向资金今日成交约1054.05亿港元，较前一日放量约156亿；约为今日恒指成交总额的44.59%。 恒指今日延续短线涨势，南向资金净买入约42.86亿港元。其中，沪港股通净流入约33.97亿港元，深港股通净流入约8.89亿港元。 趋势上，南向资金已连续16个交易日保持净流入，期间累计买入1015.25亿港元。 个股方面，交易所数据显示，今日南向资金 大幅净买入：小米集团-W(01810.HK)15.92亿港元；泡泡玛特(09992.HK)6.31亿港元；小鹏汽车-W(09868.HK)7.18亿港元；中国海洋石油 (00883.HK)4.11亿港元；协鑫科技(03800.HK)3.16亿港元；中国人寿(02628.HK)3.04亿港元。 大幅净流出：阿里巴巴-W(09988.HK)34.34亿港元；华虹半导体(01347.HK)9.85亿港元；中芯国际(00981.HK)4.28亿港元。 投资要点 小米集团-W今日涨1.68%，短线资金再度加速流入，前5日加仓7608万股。 泡泡玛特今日跌1.43%，短线资金趋势不明，前5日减持202万股。 小鹏汽车- ...

11月12日，2025新加坡金融科技节（Singapore FinTech Festival，以下简称"SFF"）在新加坡博览中心盛大启幕。在这场全球规模最大的金融科技盛会 上，来自中国的金融科技力量再次成为焦点。其中，微信多项移动支付与数字化解决方案集中亮相，不仅展示出中国在金融科技领域的领先实力，也标志着 以新加坡为代表的海外市场，正系统性地引入源自中国的移动支付技术与生态模式。 从"微信跨境支付""小程序全球收银台""全球收款"助力跨境生意，到"刷掌支付"焕新境外线下消费体验，再到"外卡内绑"与"外包内用"提升跨境支付服 务体验，以及高效便捷的"跨境汇款"，中国技术正在全球范围内构建起一套高效、开放、便利的数字支付新体系。 "一键"接入全球支付网络，小程序全球收银台正式发布 此前，在东南亚，微信支付已接入新加坡SGQR+、马来西亚DuitNow QR、泰国PromptPay等主流支付网络，让中国游客在交通出行、景点游玩、美食 购物等丰富场景，甚至很多小微商家店铺，直接使用微信完成丝滑支付。跨境汇款方面，Tenpay Global跨境汇款服务已与Panda Remit、Remitly、Western Un ...

| 分时 2日 = 5分 15分 30分 60分 图K 周K 月K 年K = | | 图集反 · 其他 · 原 / : 恒生指数 (HSI) | | | | | | --- | --- | --- | --- | --- | --- | --- | | 但生殖数 均线 ▼ | | 0000 | 26922 | | 4 234 33 | | | | -27381.84 | | | 40.85% | | . | | | | | 时情报价 | | | | | | | | 成交量 | 174亿 最高 | 27016.40 今月 | 24754.93 | | | | 27000.0 | 成交题 | 2364亿 图书 | 20239 00 作者 | 26696.41 | | | | | 其他细数 | | | | | | | | | | 11 | 9,444 | | | | | 美元振散 | | | +0.097 | | | | | 通常新 | | 47327.0 | +1.585 | | | | | 肿断达克 | | 23468.30 | -0.25% | | | | | 图图500 | | 6546.01 | +0.2 ...

一位近日在京东保险顾问（香港）有限公司应聘的求职者表 示，初期京东在港的保险客户群体或将以京东金融的内地客户 为主，若这类客户有香港保险的需求，会被进一步引流至香港 完成投保。 作者：老盈盈 封图：图虫创意 近日，京东进军香港保险市场的消息引发市场关注。该公司在香港的经营主体京东保险顾问（香 港）有限公司（下称"京东保险香港"）已获得香港保险经纪牌照，并已在香港开启员工招募。 一位近日在京东保险香港应聘的求职者告诉经济观察报记者，面试中他与香港业务主管谈及京东保 险在港的发展规划，得知其初期客户群体或将以京东金融的内地客户为主，若这类客户有香港保险 的需求，会被进一步引流至香港完成投保。 经济观察报记者就京东在香港申请保险牌照并招兵买马一事联系该公司进行采访，暂未获回应。 近年来，越来越多内地访客赴港购买保险，香港保险牌照的价值日益凸显。在京东布局前，腾讯和 阿里巴巴早已在香港开拓保险业务。至此，内地三巨头角逐香港保险市场的竞争正式拉开帷幕。 前述求职者表示，面试时，在与业务主管沟通中了解到，京东保险香港的客户群体暂时会以京东金 融在内地的客户为主，如果这些客户有购买香港保险的需求，会进一步引流至香港投保，因 ...

来源：环球网 【环球网科技综合报道】11月12日，根据"微信派"发布的最新功能介绍，揭示了视频通话中三项鲜为人 知的隐藏功能，包括一键秒CALL亲友、上下分屏显示以及双向自动接通。 据微信官方介绍，第一项隐藏功能"一键视频通话"可大幅简化通话流程。传统视频通话需要打开微信、 进入好友聊天页、点击"+"号发起通话三个步骤，而开启微信关怀模式后，用户可直接在手机锁屏界面 实现秒call对方，跳过繁琐操作直达通话主题。 第二项功能"上下分屏"则提供了全新的视觉体验。用户只需长按视频通话小窗口并拖到屏幕上方，即可 实现上下屏幕同等大小的分屏显示，取代传统的大小屏组合界面。这一功能不仅提升了通话界面的美观 度，还能为用户带来创意合照等趣味玩法。 第三项功能"双向自动接通"解决了同时发起通话的尴尬场景。当通话双方同时按下微信视频通话键时， 系统将自动接通视频通话，无需等待对方接听。（青云） ...

段永平最新访谈刷屏。 段永平在最近的采访中透露，自己的投资标的。 他表示，目前自己真的投过比较大金额的，最早是网易，然后雅虎，投雅虎其实就是想买阿里；后来差 不多就到苹果，伯克希尔哈撒韦的比重也不大；茅台其实也蛮大，腾讯现在其实还可以。 他透露，谷歌都不算，没有在谷歌上真的下过重注；拼多多可以算，拼多多很特殊了，初创阶段的时候 就已经投了，投的钱其实比重很少，赚的钱确实很多，严格意义上其实都不算，不是看懂了往里投，是 稀里糊涂投的。 众所周知，巴菲特倡导"一生打20个孔"式投资，确保将资金用在真正的大机会上。 芒格也说过一句话，他说他能有今天靠的是不去追逐平庸的机会。 段永平称，所谓20个孔，有些人一辈子其实都到不了，他就没有重仓过任何公司，他最高的重仓就是5 个点。 4.其实2600、2700块的时候我可想卖了，相对来讲那个时点是贵的，我当时最犹豫的就是，仓位太大 了，我卖了以后我买什么？我就开始折磨自己，然后放眼看去我什么都买不下手。你还不如拿着茅台， 知道它早晚会回来，我可真的就是想通了这个问题。当然了，你也没想到它会一下掉那么多，从2600掉 到1200块，掉了50%，一个股票，你要是扛不住掉50%， ...

Core Viewpoint - Tencent is expected to rebound significantly by 2025, with its stock price nearing 2021 highs, but there remains a cautious sentiment due to past regulatory challenges and business transformations [1][3]. Group 1: Business Strategy and Adjustments - Since 2018, Tencent has shifted focus from extensive investments to core business operations, a trend that is expected to become clearer in 2024 [3][10]. - Tencent's investment strategy has evolved, with a reduced emphasis on external investments and a stronger focus on enhancing operational efficiency and core business growth [4][11]. - The company has experienced a decline in capital expenditure as a percentage of pre-tax profits since 2010, despite maintaining a high return on invested capital (ROIC) above 30% [6][10]. Group 2: Financial Performance and Market Conditions - Tencent's capital expenditures have rebounded, with pre-tax profits reaching 241.5 billion yuan in 2024, and cash dividends totaling 38 billion yuan, indicating a strong financial position [10][11]. - The recent volatility in the capital markets is attributed to the U.S. government shutdown, which has restricted liquidity, but this situation is expected to improve by mid-November [13][15][18]. - The market is optimistic about Tencent's ability to reignite growth in its core business, particularly in AI and other emerging sectors, as it continues to adjust its capital allocation strategy [11][12].

Core Viewpoint - Tencent is expected to rebound significantly by 2025, with its stock price nearing 2021 highs, but there remains a cautious sentiment among investors due to past regulatory challenges and business transformation efforts [2][3] Group 1: Business Strategy and Transformation - Since 2018, Tencent has shifted its focus from investments to core business operations, with this trend becoming clearer in 2024 [3] - Tencent's investment strategy has evolved, with a reduced emphasis on external investments and a stronger focus on enhancing its core business, particularly in gaming, advertising, and cloud computing [4][10] - The company has faced challenges in capitalizing on emerging trends like live streaming and short videos, leading to questions about its ability to adapt and innovate [4] Group 2: Financial Metrics and Capital Expenditure - Tencent's capital expenditures have historically been high, with a peak of 54% of pre-tax profits in 2018, but this has since fluctuated due to strategic shifts [9][10] - The company's return on invested capital (ROIC) has remained above 30%, indicating strong financial performance, yet the proportion of capital expenditures relative to profits has declined [6][9] - In 2024, Tencent's pre-tax profit was 241.5 billion yuan, with significant cash outflows for dividends and share buybacks, reflecting a commitment to reinvest in core operations [9][10] Group 3: Market Conditions and External Factors - Recent market volatility has been attributed to liquidity constraints caused by the U.S. government shutdown, which has impacted both debt and equity markets [12][14] - The anticipated reopening of the U.S. government in mid-November is expected to restore liquidity, providing a favorable environment for Tencent to continue its business transformation [14] - Despite external challenges, Tencent's financial health remains robust, with a current ROIC close to 20%, positioning the company well for future investments [14]