（文章来源：每日经济新闻） 每经AI快讯，Wind数据显示，1月21日，共38只港股获公司回购，5只个股回购金额超千万港元。其 中，小米集团-W、泡泡玛特、舜宇光学科技回购金额最大，分别获公司回购2.48亿港元、9648.96万港 元和6138.52万港元。截至1月21日，今年已有105只港股获公司回购，7只个股年内累计回购金额超亿港 元。其中，腾讯控股、小米集团-W、舜宇光学科技年内累计回购金额最大，分别获公司回购63.58亿港 元、20.49亿港元和6.86亿港元。 ...

智通财经APP获悉，根据2026年1月21日披露数据，中国电信（00728）、绿色动力环保（01330）、天 津创业环保股份（01065）位居港股通持股比例前3位，分别为70.91%、69.45%、67.62%。此外，阿里 巴巴－W（09988）、中芯国际（00981）、华虹半导体（01347）在最近有统计数据的5个交易日内，持 股额增幅最大，分别为+22.29亿元、+16.93亿元、+13.79亿元;中国移动（00941）、优必选（09880）、 快手-W（01024）在最近有统计数据的5个交易日内，持股额减幅最大，分别为-26.13亿元、-7.87亿 元、-7.39亿元。 2、港股通最近5个交易日增持榜（前10名） | 公司名称 | 持股额变动 | 持股数变动 | | --- | --- | --- | | 阿里巴巴－W(09988) | +22.29亿元 | +1365.72万股 | | 中芯国际(00981) | +16.93亿元 | +2191.43万股 | | 华虹半导体(01347) | +13.79亿元 | +1303.34万股 | | 腾讯控股(00700) | +9.17亿元 | +152 ...

智通财经APP获悉，新鸿基地产-R(80016)、华润啤酒-R(80291)、友邦保险-R(81299)上一交易日沽空比 率位于前三位，分别为100.00%、100.00%、100.00%。小米集团-W(01810)、百度集团-SW(09888)、阿 里巴巴-W(09988)的沽空金额位居前三，分别为11.28 亿元、11.06 亿元、9.95 亿元。中国平安- R(82318)、京东集团-SWR(89618)、新鸿基地产-R(80016)的偏离值位居前三，分别为58.81%、38.75%、 35.83%。 前十大沽空比率排行 前十大沽空偏离值排行 | 偏离值↓ | 股票名称 | 沽空金额 | 沽空比率 | 中国平安-R(82318) | 323.71 万元 | 92.98% | 58.81% | | --- | --- | --- | --- | --- | --- | --- | --- | | 京东集团-SWR(89618) | 32.09 万元 | 98.46% | 38.75% | 新鸿基地产-R(80016) | 19.67 万元 | 100.00% | 35.83% | | 九兴控股(01836 ...

1月19日,中芯国际（00981）、三花智控（02050）、华虹半导体（01347）南向资金净流入金额位列市 场前三，分别净流入4.58 亿、4.05 亿、3.90 亿 中国移动（00941）、优必选（09880）、三生制药（01530）南向资金净流出金额位列市场前三，分别 净流出-6.01 亿、-5.16 亿、-3.57 亿 在净流入比方面，海天味业（03288）、南方港股通（03432）、中集集团（02039）以76.61%、 62.50%、59.57%位列市场前三。 | 股票名称 | 净流出比↓ | 净流出(元) | 收盘价 | | --- | --- | --- | --- | | 德康农牧(02419) | -50.69% | -3220.69 万 | 68.300（+4.12%） | | 三生制药(01530) | -47.05% | -3.57 亿 | 25.020（-5.51%） | | 建发国际集团(01908) | -45.45% | -8667.81 万 | 14.320（-1.38%） | | 滔搏(06110) | -43.24% | -1698.81 万 | 2.800（-0.36 ...

例如百度的自动驾驶平台不仅提供自动驾驶软件，更打造了涵盖智能道路基础设施、AI地图、传感器 及云端协同的完整移动出行系统。华为则为工业园区、港口等提供"交钥匙"全套人工智能系统，涵盖AI 门禁控制、安全监控、5G网络、数据中心和软件等。AI不仅限于大都市。在中国农村，电商平台为农 民提供AI驱动的多种工具，用于诊断作物病害、预测产量和最佳定价等。 开源在中国的AI及更广泛的科技生态中扮演着战略性角色。不同于西方，中国把开源当作一种发展加 速器与协作机制。中国企业和研究机构使成千上万的开发者、初创企业、高校及地方政府能基于共同的 基础进行创新。开源模式契合中国重视集体解决问题和标准化的传统。共享平台使产业、学术界和政府 更容易围绕共同的技术路线图协作。这对智慧城市、工业自动化和能源系统等大型项目至关重要。 中国的AI模式对全球南方国家具有特别的吸引力。对许多新兴经济体而言，西方的做法造成财务和制 度障碍。中国则提供了可负担的低成本替代方案：将AI作为共享基础设施，目的是广泛应用而非仅供 少数精英使用。该战略通过集成开发环境而非独立技术实现。借助"数字丝绸之路"等倡议，中国企业将 人工智能系统与电网、5G网络、数 ...

大型蓝筹股涨跌不一，汇丰控股收报129.700港元，较香港收市涨1.17%；腾讯控股收报599.924港元，较香港收市跌0.43%。 | 序号 名称 | | 港股代码 | 最新价 | 涨跌额 | 涨跌幅 | ADR代码 | ADR换算价 | 较港股升跌 | 较港股升跌% | ADR | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 腾讯控股 | 0 00700 | 602.500 | +1.500 | 0.25% | TCEHY | 599.924 | -2.576 | -0.43% | 7 | | 2 | 阿里巴巴-W | 099888 | 163.200 | +3.500 | 2.19% | BABA | 164.396 | +1.196 | 0.73% | 16 | | 3 | 汇丰控股 | 00005 | 128.200 | -0.200 | -0.16% | HSBC | 129.700 | +1.500 | 1.17% | 8 | | 4 | 建设银行 | 00939 | 7.670 | -0.0 ...

Core Viewpoint - Tencent Holdings is expected to report Q4 2025 earnings with a revenue forecast of 194.6 billion yuan, representing a 13% year-on-year growth, driven by stable performance in online advertising, gaming, and financial technology sectors [1][4]. Group 1: Gaming Sector - The online gaming revenue is projected to reach 58 billion yuan in Q4 2025, reflecting an 18% year-on-year increase, with strong performances from established titles like "Honor of Kings" and "Peacekeeper Elite" [2][5]. - The new game "Delta Action" is expected to perform well, with user acquisition efforts ramping up during the 2026 Spring Festival, potentially boosting revenue further [2][5]. - The overseas gaming market is anticipated to grow by 22% year-on-year, with titles like Supercell's "Clash Royale" and the AAA game "Dying Light: The Following" showing strong performance [2][5]. Group 2: Marketing Services - Marketing services revenue is expected to reach 41.3 billion yuan in Q4 2025, marking an 18% year-on-year growth, supported by stable growth in video accounts and the release of more advertising inventory [2][5]. - AI integration in advertising is projected to mitigate macroeconomic pressures, with significant reductions in operational tasks for advertisers, enhancing overall efficiency [2][5]. Group 3: Financial Technology and Enterprise Services - Financial technology and enterprise services revenue is forecasted to be 61.2 billion yuan, showing a 9% year-on-year increase, primarily driven by payment services [3][6]. - The introduction of AI applications and tools in WeChat mini-programs is expected to provide comprehensive support for developers, facilitating the rapid transformation of ideas into profitable products [3][6]. Group 4: Investment Outlook - The company is increasing investments in AI talent and capabilities, with a long-term growth potential in areas like WeChat e-commerce and AI Agent empowerment not fully reflected in current profit forecasts [3][6]. - Adjusted net profit estimates for 2025-2027 are projected at 260.1 billion, 296.1 billion, and 339.9 billion yuan, with slight downward adjustments of 1%-2% [3][6].

Core Viewpoint - Tencent is expected to achieve a revenue growth of 13% year-on-year in Q4 2025, with adjusted net profit increasing by 16% to 643 billion [1] Group 1: Gaming Business - Tencent's gaming revenue is projected to grow by 16% year-on-year in Q4, with a sequential slowdown due to the longer deferral period of "Delta" and no new game launches in the domestic market [2] - "Counter-Strike: Future" has launched on both platforms, reaching over 10 million players shortly after its release, with expected first-year revenue between 35-70 billion [2] - Key upcoming projects for 2026 include "Rock Kingdom: World" in March and "Honor of Kings World" in spring, along with several other titles [2] Group 2: Financial Technology - Financial technology revenue is anticipated to grow by 9% year-on-year in Q4, primarily due to a slowdown in social retail growth [3] - AI mini-programs are expected to enhance e-commerce, transportation, and local life scenarios, with significant growth in token usage and paid penetration rates anticipated in 2026 [3] - In 2025, the monetization scale of AI application mini-programs increased by 108%, with eCPM rising by 75% [3] Group 3: Advertising Revenue - Advertising revenue is expected to grow by 20% year-on-year in Q4, driven by increased budgets from long-tail advertisers and efficiency improvements from AI [4] - WeChat is gradually evolving towards a shelf-like e-commerce model, introducing social relationship-based product recommendations and exploring differentiated social e-commerce features [4] - In 2025, the GPM of WeChat mini-stores increased to 1.5 times compared to 2024, with a 70% year-on-year growth in the average number of active merchants [4] Group 4: Profit Forecast and Valuation - Revenue forecasts for Tencent have been adjusted downwards by 0.5% to 0.8% for 2025-2027, primarily due to changes in gaming revenue deferral predictions [5] - Adjusted net profit forecasts have been revised down by 0.9% to 0.5% to 263.1 billion, 299.4 billion, and 342.5 billion respectively, mainly due to increased AI investment costs [5] - The target price for Tencent is set at 792 HKD, corresponding to a 21.6 times PE valuation for 2026 [5]

专题：世界经济论坛年会_2026冬季达沃斯 新浪财经 康路 发自瑞士达沃斯 2026年1月21日，在达沃斯举行的世界经济论坛（WEF）上，腾讯集团高级执行副总裁、云与智慧产业 事业群CEO汤道生分享了腾讯在人工智能领域的战略观察与产业实践。他指出："我们的云战略核心， 就是支持各类不同的模型运行，为客户提供不依赖特定模型的工具和产品。我们认为，这样才能够把选 择合适模型的自主权交还给客户。" 汤道生表示，"当人们谈论AI时，可能倾向于把它想象一个庞大的超级系统，称之为AGI，但实际上， 现实中却是多种不同的模型，服务于不同的场景。" 此外，腾讯正坚定投入全栈自研混元大模型，加快模型研发进程，在过去一年发布了30多个新模型，涵 盖增强混合推理、图像、视频及3D生成等多个领域。其中，全新发布的混元2.0，采用了混合专家 （MoE）架构，具备高达406B总参数量（激活参数32B），推理能力和效率处于业界领先地位。混元 3D大模型开源平台的下载量已突破300万，被全球开发者、创作者和开源社区公认为最受欢迎的3D开源 模型之一。 目前，混元大模型已支持腾讯内部900多个业务场景提效，包括腾讯会议、微信、广告、游戏业务等 ...

2011年1月21日，一款名为微信的应用正式上线，开启了一段持续十五年的数字社交旅程。2026年1月21 日，正值其诞生十五周年之际，相关团队回顾了早期版本的设计细节，展示了微信Android 1.0时期的界 面以及标志性的地球启动画面，其中经典的"小人"形象再度引发公众关注与讨论。 关于启动页中的图像，官方作出说明：画面展现的是人类历史上首次从太空视角完整观测地球的场景， 寓意着孤独感与对未知的想象。这一视觉灵感源自1968年阿波罗8号任务，当时宇航员在月球轨道上拍 摄到了地球全景，成为人类航天史上的重要瞬间。 数据显示，如今每日访问朋友圈的用户已达7.8亿，其中有1.2亿用户会主动发布内容。朋友圈的功能早 已超越最初的社交展示，逐渐演变为普通人记录生活变迁、留存人生重要节点的独特空间。从青春年少 的心事流露，到初入社会的探索与适应，再到成家立业后的责任与担当，这一方天地承载了无数个体的 成长印记。 2026-01-21 13:20:59 作者：狼叫兽 ...