腾讯获得全球首富的肯定，马斯克发文夸赞，直言他们的品味很好，当世界首富马斯克也开始为腾讯"品味好"点赞，这背后的意义，远 比一句夸奖更值得玩味，近日，前《魔兽世界》制作人、暴雪老兵Mark Kern（Grummz）在社交平台上分享了他对腾讯游戏业务的观 察，引发海外舆论热议，他指出一个许多人忽略的事实——腾讯在海外市场的收入规模，已经超过EA、Roblox甚至《GTA》系列的表 现。 而腾讯的策略恰恰相反：Riot依旧是Riot，Supercell依旧是Supercell，Grinding Gear依旧按自己的节奏做《流放之路》……腾讯更像是一 个"隐形的大股东"，不搞文化殖民、不搞IP粗暴接管，而是让擅长的人继续专注做擅长的事，这种"不干涉式管理"，在缺乏耐心的欧美 资本环境里反倒显得像一种异类策略，却也让腾讯在收购与投资赛道上频频跑赢传统巨头。 要知道，《GTA》系列一直被视为全球最吸金的IP之一，而EA又是传统美式"游戏巨鳄"，能在收入上实现这种跨越，本身就足以说明问 题，更值得关注的是，Kern从一个行业内部人的角度总结了腾讯成功的战略核心：不是"大力收割"，也不是"买来同化"，而是寻找潜力 股，然后 ...

影石Insta360首席战略官袁跃在接受智通财经采访时表示，做会议和做相机在不少能力上可以复用，但 在组织设计、渠道、产品技术方面还是有一些不同。所以，影石想通过Wave这样一款产品，补齐影石 在会议行业音频缺失的部分能力，这也是未来深入会议领域的先决条件。 这是以全景相机发家的影石，在跨界路上的又一次尝试。此前，影石已经在会议领域推出多款产品，包 括双摄视频会议一体机Connect、智能4K网络摄像头Link系列。此外，影石还曾推出VR全景看房、建筑 项目全景记录、全景直播等行业应用。 智通财经编辑 | 文姝琪 今年9月，影石Insta360（下称"影石"）发布了一款名为Wave的AI录音全向麦克风。这是一款集麦克 风、扬声器与AI录音笔为一体的办公设备，搭载腾讯天籁Inside解决方案，支持指向拾音、AI录音转 写、AI生成会议纪要等多种功能，售价2198元起。 在近期举办的一场媒体沟通会上，双方团队详细介绍了此次合作的具体情况。 智通财经记者 | 陆柯言 做这款产品的过程中，影石并没有选择从零到一自建算法模块，而是选择与腾讯天籁实验室合作。作为 腾讯会议旗下顶尖的音频通信和处理研发团队，腾讯天籁实验室为 ...

最近有个现象很有意思：朋友圈里那些从不发广告的朋友，开始分享一些商品链接了。不是微商那种刷屏，而是偶尔一条，配上"这东西我买了，确实好 用"的真实体验。 这背后，是微信电商的一次静默革命。2026年，微信推客正成为普通人触手可及的风口，不是因为它鼓励全民带货，而是它终于把分享经济的精髓玩明白 了。 01 传统电商困境 传统电商平台已经进入存量搏杀阶段。一个新商家想在天猫或京东开店，首先要面对高昂的流量成本。 微信推客将购物和社交关系结合，让每笔消费都可能变成一种投资，这种模式正在悄然改变电商的游戏规则。 传统电商的模式已经显露出疲态：平台赚流量钱，头部主播赚坑位费，商家为高昂营销成本买单，消费者在海量信息中挣扎——这个链条中，大多数人都是 输家。 02 微信电商的"新玩法" 微信电商走的是一条完全不同的路。它不追求把所有人都变成卖家，而是让每个人都能在消费中创造价值。 微信推客模式的核心创新在于：你不需要开店，不需要囤货，不需要处理物流客服。 你只需在微信生态内分享你真正认可的商品。 当朋友通过你的分享链接完成购买，你可以获得佣金。而你自己购买刚需品时，也能通过推客身份获得优惠。 据行业数据显示，在某些热门品 ...

Core Insights - ByteDance's short drama app, Hongguo, has become a dominant player in the micro-short drama market, surpassing platforms like Bilibili and Youku in monthly active users, reaching 245 million by October 2025 [1] - The revenue from ByteDance's "Tomato ecosystem" is projected to exceed 30 billion to 50 billion yuan in 2024, with expectations to double to 600 billion yuan in 2025 [2] - The micro-short drama market continues to grow despite strong regulatory pressures, with the market size reaching 50.5 billion yuan in 2024, surpassing the total box office revenue for that year [8] Group 1: Market Position and Growth - Hongguo has maintained a leading position in daily active users (DAU) since May 2025, indicating a strong upward growth trend [1] - The second-largest competitor, Hemma Theater, only reached 50 million monthly active users in October 2025, highlighting Hongguo's market dominance [1] - The average daily usage time for micro-short drama applications reached 120.5 minutes, a 25.9% increase from January, suggesting a shift in user engagement towards micro-short dramas [8] Group 2: Regulatory Environment - The micro-short drama market has undergone significant regulatory scrutiny, with over 25,000 non-compliant mini-programs removed since late 2022 [5] - In 2025, the National Radio and Television Administration implemented a tiered review system for micro-short dramas, indicating ongoing regulatory challenges [5][6] Group 3: Industry Dynamics - The rise of Hongguo has led to a trend where more production companies are willing to sign exclusive agreements, indicating a shift in power dynamics within the industry [9] - The production model for Hongguo includes both high-quality and bulk production strategies, allowing for greater control over content supply [9] - Tencent's WeChat Video Account has shown a more conservative approach to the micro-short drama market, lacking significant investment compared to ByteDance [3][11] Group 4: Future Trends - The emergence of AI-driven content, such as "manhua dramas," is expected to reshape the industry, with production costs significantly lower than traditional short dramas [14] - The number of production companies for manhua dramas has increased from 20 to 60 within a year, indicating a growing interest in this new format [14] - Industry insiders believe that manhua dramas could establish a new creative model, allowing creators to retain more control over their work [14]

Core Insights - ByteDance's short drama application, Hongguo, has become a dominant player in the micro-drama market, achieving 245 million monthly active users by October 2025, surpassing Bilibili and Youku, and ranking fourth in the online video sector [1][15] - The revenue from ByteDance's "Tomato Business" (including Hongguo) is reported to exceed 30 billion yuan in 2024, with predictions of doubling to 60 billion yuan in 2025, although ByteDance has disputed these figures [2][17] - The micro-drama market in China reached a scale of 50.5 billion yuan in 2024, surpassing the total box office revenue for that year, with a significant increase in user engagement [8][24] Group 1: Market Dynamics - The micro-drama market has undergone a regulatory adjustment, with the National Radio and Television Administration implementing strict oversight, leading to the removal of over 25,000 non-compliant micro-dramas [5][20] - Despite regulatory challenges, the micro-drama market continues to grow, with a notable increase in daily usage time, reaching an average of 120.5 minutes per user [8][23] - Hongguo's free model and substantial financial investment have allowed it to dominate the market, with over 3 billion yuan in revenue sharing agreements with content creators [9][24] Group 2: Competitive Landscape - Tencent's WeChat Video Account has been relatively restrained in the micro-drama space, with no significant investments or platform launches to compete with ByteDance [3][11] - Tencent Video is increasing its efforts in the micro-drama market, launching new initiatives and support programs, but faces challenges in matching the rapid response required in this sector [12][29] - The rise of AI-driven content creation, such as "manhua" (comic dramas), is emerging as a new trend, with production costs significantly lower than traditional short dramas, indicating a shift in creative dynamics [14][30] Group 3: Industry Trends - The micro-drama industry is seeing a shift towards AI-driven production, which allows for lower costs and greater creative control for writers, potentially disrupting traditional content creation models [14][31] - The increasing number of production companies in the manhua sector, from 20 to 60 in just over a year, highlights the rapid evolution and diversification within the industry [14][30] - The competitive landscape is characterized by a concentration of resources with leading platforms like Hongguo, raising concerns about market power and the potential for monopolistic practices [9][25]

原标题："微信群崩了"？最新回应 12月12日下午，大量用户反映微信群消息无法发送或同步，相关话题登上热搜，引发"微信群崩了"的集 中讨论。 之后，@腾讯微信团队 发布公告称，"抱歉，服务器轻微抖动，现已恢复。" 审核 | 卢长银 编辑 | 徐铉 校对 | 向歆悦 ...

Core Viewpoint - Tencent Holdings has been actively repurchasing its shares, with a total repurchase amount of HKD 73.044 billion this year, indicating a strong commitment to shareholder value [1][2]. Group 1: Share Repurchase Details - On December 12, Tencent repurchased 1.044 million shares at prices ranging from HKD 601.500 to HKD 616.000, totaling HKD 6.36 million [1]. - Since November 18, the company has conducted share repurchases for 19 consecutive days, acquiring a total of 19.682 million shares for HKD 12.079 billion, despite a 3.22% decline in share price during this period [1][2]. - Year-to-date, Tencent has completed 119 repurchase transactions, acquiring a total of 14.2 million shares for HKD 73.044 billion [2]. Group 2: Stock Performance - The stock closed at HKD 616.000 on December 12, reflecting a 2.41% increase on that day, with a total trading volume of HKD 10.872 billion [1].

Core Viewpoint - On December 12, the Hang Seng Index rose by 1.75%, with southbound funds recording a total transaction amount of HKD 116.99 billion, resulting in a net sell of HKD 5.29 billion [1] Group 1: Southbound Fund Transactions - Total transaction amount for southbound funds was HKD 116.99 billion, with buy transactions at HKD 55.85 billion and sell transactions at HKD 61.14 billion, leading to a net sell of HKD 5.29 billion [1] - The southbound trading through Stock Connect (Shenzhen) had a total transaction amount of HKD 63.08 billion, with net buy of HKD 1.31 billion, while the Shanghai Stock Connect recorded a total transaction amount of HKD 53.91 billion with a net sell of HKD 6.59 billion [1] Group 2: Active Stocks - Alibaba-W had the highest transaction amount among southbound funds at HKD 9.43 billion, followed by Xiaomi Group-W at HKD 6.31 billion and Tencent Holdings at HKD 5.38 billion [2] - The stocks with the highest net buy amounts included Meituan-W at HKD 2.48 billion, Xiaomi Group-W at HKD 2.36 billion, and Beike-W at HKD 0.10 billion, while Alibaba-W had the highest net sell amount at HKD 3.37 billion [2] - Meituan-W and Xiaomi Group-W were among the stocks that appeared on both Shenzhen and Shanghai Stock Connect active stock lists, with Meituan-W having a total transaction amount of HKD 5.20 billion and a net buy of HKD 2.48 billion [2] Group 3: Continuous Buying and Selling - Xiaomi Group-W and Meituan-W were the only stocks with continuous net buying for more than three days, with Xiaomi Group-W having a total net buy of HKD 10.77 billion and Meituan-W at HKD 4.08 billion [3] - Tencent Holdings and SMIC were the stocks with the highest continuous net sell amounts, totaling HKD 1.72 billion and HKD 1.55 billion respectively [3]

Group 1 - On December 12, the Hang Seng Index rose by 1.75%, closing at 25,976.79 points, while southbound funds through the Stock Connect recorded a net sell of 5.287 billion HKD [1] - The total trading volume for the Stock Connect on December 12 was 116.989 billion HKD, with a net sell of 5.287 billion HKD [1] - In the Shanghai Stock Connect, the trading volume was 53.910 billion HKD with a net sell of 6.595 billion HKD, while in the Shenzhen Stock Connect, the trading volume was 63.080 billion HKD with a net buy of 1.309 billion HKD [1] Group 2 - In the top ten active stocks in the Shanghai Stock Connect, Alibaba-W had the highest trading volume at 3.598 billion HKD, followed by SMIC and Xiaomi Group-W with trading volumes of 2.071 billion HKD and 2.057 billion HKD respectively [1] - In terms of net buy and sell amounts, Changfei Optical Fiber Cable had a net buy of 0.07 million HKD, while Alibaba-W had the highest net sell of 626 million HKD, despite its closing price increasing by 2.32% [1] - In the Shenzhen Stock Connect, Alibaba-W also led in trading volume with 5.836 billion HKD, followed by Xiaomi Group-W and Meituan-W with 4.252 billion HKD and 3.826 billion HKD respectively [2] - The net buy amount for Xiaomi Group-W was the highest at 2.959 billion HKD, with its closing price rising by 1.85%, while Alibaba-W had a net sell of 2.742 billion HKD, closing up by 2.32% [2]

12 月 12 日 16:20 左右，多位网友发文称微信群崩了，群消息发不出去，很多人都慌了：聊着聊着没 声音了，集体以为公司断网了… 还有网友表示：转账也崩了，收不了。 故障初期多数人误以为是网络问题或账号异常，有人反复切换网络、重启设备，甚至怀疑被移出群聊。 微信团队于 17:00 左右发布声明，将故障归因为"服务器轻微抖动"，并确认功能恢复。 多数用户在 17:00 前通过重启微信恢复正常，但部分区域反馈故障持续超 1 小时或反复出现。少量历 史消息错位未同步。 （参考：微博） ...