智通财经APP获悉，1月15日,阿里巴巴-W（09988）、腾讯控股（00700）、建设银行（00939）南向资 金净流入金额位列市场前三，分别净流入19.54 亿、6.38 亿、3.58 亿 中国移动（00941）、紫金矿业（02899）、信达生物（01801）南向资金净流出金额位列市场前三，分 别净流出-8.83 亿、-4.50 亿、-4.35 亿 在净流出比方面，玖龙纸业（02689）、保利物业（06049）、安能物流（09956） 以-54.83%、-52.87%、-47.66%位列市场前三。 前10大净流入比榜 | 股票名称 | 净流入比↓ | 净流入(元) | 收盘价 | | --- | --- | --- | --- | | 工银南方中国(03167) | 100.00% | 10.12 万 | 72.100（-1.53%） | | 361度(01361) | 78.85% | 2650.61 万 | 5.900（+0.85%） | | 秦港股份(03369) | 67.10% | 123.96 万 | 2.650（-1.12%） | | 南方港美科技(03442) | 64.23% | 376 ...

财经摆渡人 精研出品 破浪前行，共探财富新局 大家好欢迎收看【古今财鉴】 数据中心现在可是耗电大户。 中国信通院今年6月刚出的报告显示，这些家伙的用电量还在噌噌涨。 为了搞定这事，国家搞了"东数西算"工程。 我找腾讯战略发展部的碳中和高级顾问翟永平聊了聊，想弄明白数据中心的能源问题到底该咋解决。 西电东送还是东数西算？数据中心的能源大挪移 "东数西算"可不是拍脑袋想出来的。 2022年2月，国家发改委等四部委联合发文。 这次文件直接敲定了八大国家算力枢纽节点的建设计划。 到了去年12月，五部委又发了新文件，要深入实施这个工程。 现在全国形成了"八大枢纽、十大集群"的布局，把东部的数据需求引到西部处理。 有些对时延要求高的业务，比如直播、金融交易，就不太适合放在西部。 更何况，那边懂数据中心运维的技术人才也少，招人都费劲。 西部这低电价能撑多久呢？2010到2018年，光伏风电靠补贴发展得挺快。 西部最吸引人的就是电价。 那边水电、风电、太阳能资源多，电价能做到0.4元/千瓦时以下。 企业要是签个长期购电协议，或者搞绿电直连、微电网，成本还能再降。 2021年补贴取消后，市场一下子冷静了不少。 现在光伏发电基本 ...

1月19日，南下资金净买入港股22.92亿港元。 其中，净买入中芯国际4.61亿、华虹半导体3.93亿、腾讯控股2.73亿、阿里巴巴-W 2.65亿、小米集团-W 1.66亿； 净卖出中国移动5.99亿、优必选5.17亿、美团-W 2.86亿。 北水关注个股 优必选：1月18日，优必选宣布，于日前与欧洲航空巨头空中客车公司签署人形机器人服务协议。空中客车已采购优必选最新款工业版人形机器人Walker S2 用于其制造工厂，未来双方将共同拓展人形机器人在航空制造场景的应用落地。 阿里巴巴：香港交易所信息显示，花旗集团在阿里巴巴-WH股的持股比例于01月13日从5.38%升至6.03%。 小米集团：1月19日，小米集团斥资约1.46亿港元回购400万股B类股份，每股回购价格为36.36港元-36.52港元。 中芯国际、华虹半导体：开源证券指出，台积电发布超预期指引，将2026年资本开支大幅上调至520-560亿美元，印证AI驱动的长期需求。DRAM价格持续 上涨，DDR4部分型号周涨幅超12%，美光指出AI需求占比已快速提升至DRAM市场的50-60%，供给紧张或延续至2028年。 腾讯控股：野村发表研究报告指， ...

Core Insights - The article emphasizes the significance of AI in investment decisions, particularly in the context of Chinese internet companies and their overseas revenue potential [2][3]. Group 1: Overseas Revenue of Chinese Internet Companies - Chinese internet companies have an average overseas revenue exceeding 10%, with Pinduoduo leading at 35% [3]. - Companies like Tencent and Alibaba have low to high teens percentages of overseas revenue, indicating a growing trend towards international markets [3]. Group 2: Cloud Computing Sector - Alibaba Cloud and Tencent Cloud are rapidly expanding their international presence, with Alibaba planning new business regions in Brazil, France, and the Netherlands, and Tencent deploying services in 22 regions globally [4]. - Morgan Stanley projects that Alibaba Cloud's revenue growth will exceed 40% by FY2027, while Tencent's enterprise service revenue is expected to grow by 25% by FY2026 [5]. Group 3: Autonomous Driving Services - Baidu's autonomous driving service, "Luobo Kuaipao," is a leader in the sector, achieving over 250,000 weekly orders in fully autonomous mode as of Q3 2025, and has expanded to 22 cities including Dubai and Switzerland [7]. - Despite its leadership, Morgan Stanley anticipates that Baidu's revenue from this service will remain low and require continued investment [9]. Group 4: AI Models and Applications - Alibaba's Tongyi Qianwen model has gained significant traction globally, becoming the most downloaded AI model with over 700 million downloads by January 2026 [11]. - Kuaishou's Keling is expected to generate substantial revenue from overseas markets, with projections indicating an 80% year-on-year growth to reach $270 million by 2026, driven by B2B customer expansion [14].

研究院诸友： 见字如面，展信开颜：） 刚刚过去的 2025 年，AI 倾泻如潮，世界在数字中深潜。 中国的大模型像一道弧光，向世界证明，智慧不仅可以轻盈，还可以开放，我们又在全球AI叙事中刻下来自东方的笔迹； 机器人在无数次跌倒后，又笨拙着爬起； "人工智能+"推动技术从实验室走向工厂，走向医院与家庭； 面对这一切，我们终于感觉到： 未来不再是预言，而是正在发生的此刻。 当 日程、工作、学习、健康、乃至情感的星图，皆可交由AI打理 ， 我们却在某个月夜惊觉： 那些被 以效率之名 优化 掉 的，是否正是人之为人的根本？ 迷途时的 意外风景、 阅读中艰涩的顿悟 、 人际间笨拙而真诚的摩擦——这些构成生命质感的 瑕疵 与低效 ，是否正被我们亲手裁剪？ 上半场，我们教会机器学习。 下半场，真正的挑战或许在于，我们如何 对"何以为人"这一古老命题，持续探索与捍卫。 2026年的晨光，照亮的将不再是模型的参数之战，而是一条更为艰深的道路： 27岁的姚顺雨作为首席AI科学家加入腾讯，他平静 断言： AI的上半场已经结束。 我们又恍然：狂飙的技术史诗，第一章已然合上 。而 下半场的序曲，是关于我们自身的诘问。 当"人"与"机 ...

以上内容由AI大模型生成，仅供参考 "稳就业"关乎"稳经济"的大局。2025年12月，中央经济工作会议在部署2026年经济工作时明确要求，实 施稳岗扩容提质行动，切实稳定高校毕业生、农民工等重点群体就业。开年以来，广东作为"我国经济 第一大省"，率先把稳岗扩容提质的要求落到企业用工与人才机制上，一批粤企在校招、实习、技能岗 位补充等方面持续加力，成为稳就业的重要承接端。 从用工市场信号看，扩招与涨薪正在同步出现。据不完全统计，2025年，比亚迪（002594）新发"AI infra算法工程师"岗位平均月薪上涨超过36%；大疆"工业设计师"岗位平均月薪上涨20%，腾讯"AI 产品 经理"岗位平均月薪上涨5.56%。岗位与薪酬变化背后，指向同一条主线：新技术驱动的岗位需求加速 释放，企业在关键岗位上提升吸引力，同时通过更系统的人才培养与发展通道提高留用率、提升就业质 量。 腾讯滨海总部大厦。 近日，南都湾财社记者采访了腾讯、比亚迪、研祥集团三家企业，发现"稳就业"的落点正在发生迁移： 从"多招人"转向"招对人、育好人、留住人"。腾讯作为平台企业，将扩招重点更多压在AI等新兴业务 上；比亚迪作为制造业龙头，在产业链 ...

"稳就业"关乎"稳经济"的大局。2025年12月，中央经济工作会议在部署2026年经济工作时明确要求，实 施稳岗扩容提质行动，切实稳定高校毕业生、农民工等重点群体就业。开年以来，广东作为"我国经济 第一大省"，率先把稳岗扩容提质的要求落到企业用工与人才机制上，一批粤企在校招、实习、技能岗 位补充等方面持续加力，成为稳就业的重要承接端。 腾讯滨海总部大厦。 近日，南都湾财社记者采访了腾讯、比亚迪、研祥集团三家企业，发现"稳就业"的落点正在发生迁移： 从"多招人"转向"招对人、育好人、留住人"。腾讯作为平台企业，将扩招重点更多压在AI等新兴业务 上；比亚迪作为制造业龙头，在产业链扩张中带来多层次岗位增量，并以全周期培养机制稳住队伍；研 祥集团则以"青研社"全周期职业孵化与技术扶贫模式破解人岗适配难题，把"人才流量"沉淀为"技术留 量"。 一 扩招向"新技术、新赛道、新岗位"集中 招聘结构的变化，往往预示着产业趋势的风向。随着大模型产业快速发展，腾讯在2025年开放的校招岗 位覆盖技术、产品、设计、市场、职能等五大类70余种岗位。其中，人工智能、大数据、云计算、游戏 引擎等技术类岗位扩招力度较大，占比超过60%。从 ...

从用工市场信号看，扩招与涨薪正在同步出现。据不完全统计，2025年，比亚迪新发"AI infra算法工程师"岗位平 均月薪上涨超过36%；大疆"工业设计师"岗位平均月薪上涨20%，腾讯"AI 产品经理"岗位平均月薪上涨5.56%。岗 位与薪酬变化背后，指向同一条主线：新技术驱动的岗位需求加速释放，企业在关键岗位上提升吸引力，同时通 过更系统的人才培养与发展通道提高留用率、提升就业质量。 近日，南都湾财社记者采访了腾讯、比亚迪、研祥集团三家企业，发现"稳就业"的落点正在发生迁移：从"多招 人"转向"招对人、育好人、留住人"。腾讯作为平台企业，将扩招重点更多压在AI等新兴业务上；比亚迪作为制 造业龙头，在产业链扩张中带来多层次岗位增量，并以全周期培养机制稳住队伍；研祥集团则以"青研社"全周期 职业孵化与技术扶贫模式破解人岗适配难题，把"人才流量"沉淀为"技术留量"。 扩招向"新技术、新赛道、新岗位"集中 招聘结构的变化，往往预示着产业趋势的风向。随着大模型产业快速发展，腾讯在2025年开放的校招岗位覆盖技 术、产品、设计、市场、职能等五大类70余种岗位。其中，人工智能、大数据、云计算、游戏引擎等技术类岗位 扩招力 ...

Core Insights - Alibaba has integrated its Qianwen App into its ecosystem, including Taobao, Alipay, and other services, positioning it as a "super agent" to differentiate from competitors like Doubao and Yuanbao [1] - The year 2025 is referred to as the "AI Hardware Year," marking a surge in AI hardware products like AI glasses and headphones, aiming to replace smartphones as essential devices [3][4] - Major tech companies are actively investing in AI hardware, with products like ByteDance's Doubao and ZTE's nubia M153 generating significant buzz [1][9] Trend 1: Hardware Manufacturers Competing in AI Vertical Market - The AI hardware market is experiencing intense competition, with various companies launching products aimed at becoming essential devices [2][3] - Plaud, an AI hardware company, has successfully sold over 1 million units by targeting high-decision, high-dialogue, and high-knowledge-density users [3] - The trend of vertical market products achieving commercial viability is notable, as companies leverage AI to enhance hardware functionality [4] Trend 2: Major Companies Stirring the Hardware Market - Internet giants are diversifying into hardware, with companies like ByteDance and Alibaba launching AI products to complement their existing software ecosystems [9][10] - The strategies include direct hardware development and providing foundational models for other hardware manufacturers [10][11] - Tencent is focusing on robotics and has launched a modular platform for intelligent robots, indicating a shift towards hardware integration [11] Trend 3: Ecosystem Integration of Super Applications - Alibaba's Qianwen App has been upgraded to support over 400 tasks, integrating with various services to enhance user experience [15][17] - Tencent is betting on WeChat as a super application, aiming to create an AI assistant that can understand user needs and execute tasks within its ecosystem [17][18] - The competition among major companies is intensifying as they seek to create comprehensive user experiences through integrated applications [19] Trend 4: New Competitive Logic from Emerging AI Models - Emerging AI model companies, referred to as the "Six Little Tigers," are positioning themselves alongside major tech firms in the race for super applications [22][23] - These companies are focusing on high-value sectors like healthcare, with products that aim to redefine user engagement and application functionality [23][24] - The competition is shifting from traditional metrics of success to a focus on model capabilities and user experience [24][25] Predictions: Who Will Define the Super Entry? - The battle for the next generation of "super entry" is ongoing, with hardware and software companies vying for dominance [29][30] - Challenges remain in the AI hardware sector, including user privacy and the clarity of business models for AI applications [30][31] - The concept of a "super entry" may evolve, with the potential for more neutral and open platforms to emerge as key players [31]

Group 1: Company Developments - Li Auto's subsidiary Jiangsu Li Auto Drive Technology Co., Ltd. increased its registered capital from 180 million RMB to 300 million RMB, a growth of approximately 67% [1] - Ningde Times established a new company, Ma'anshan Run'an New Energy Co., Ltd., with a registered capital of 4.55 million RMB, focusing on emerging energy technology [3] - Jiangzhong Pharmaceutical changed its name to China Resources Jiangzhong Pharmaceutical Co., Ltd. and plans to change its stock abbreviation to "China Resources Jiangzhong" while keeping the stock code unchanged [4] - Hangzhou Zhijian Power Technology Co., Ltd. saw new shareholders including Tencent and Taobao, with its registered capital increased to 1.5191 million RMB [7] Group 2: Financial Forecasts - Liangpinpuzi expects a net loss of 120 million to 160 million RMB for the year 2025, with a decrease in sales revenue and gross margin due to store restructuring and product price adjustments [2] - Furi Electronics anticipates a net loss of approximately 50 million RMB for 2025, with a projected net loss of about 73 million RMB after excluding non-recurring gains and losses [5] Group 3: Industry Trends - Cainiao's global overseas warehouse order volume is expected to grow by 32% year-on-year in 2025, with plans to expand coverage and automation in key markets [6] - Alibaba Health's AI product "Hydrogen Ion" has completed internal testing and is now available for download, targeting clinical and research fields [10] - Feishu is collaborating with Anker Innovation to launch a smart recording device named "AI Recording Bean," marking its first hardware product since its establishment [11]