Core Viewpoint - Kehua Data (002335) is a key partner of Tencent in the data center sector, providing a comprehensive range of products and services throughout the entire lifecycle of data center operations [1] Group 1 - The company supplies Tencent with data center products such as T-block and integrated DC cabinets [1] - Kehua Data offers a full suite of services including design enhancement, integration management, engineering construction, operation management, IDC operation, and value-added services [1]

腾讯近日推出了一款由先进AI驱动的开源文本生成3D引擎，并面向全球发布。混元3D 2.0不仅允许用户 通过文本创建高分辨率素材，还能支持上传图片甚至草图来生成3D模型。这些模型可应用于游戏开 发、广告、媒体内容、电子商务以及影视特效制作。 除可生成商业级3D资产外，用户还能对创作成果进行动画制作和修改调整。 腾讯表示该程序"支持OBJ和GLB等主流3D格式输出，并能无缝集成至Unity、Unreal Engine和Blender 等专业软件"。 随着人工智能技术持续进步并渗透到生活各个层面，众多电子游戏公司正在进行结构调整、裁员、关闭 工作室，并积极布局利用AI以实现最优效率与利润。 混元3D支持用户实现以下功能： · 运用先进的文本生成3D技术创建逼真的3D模型 · 生成多样化的3D资产，包括物体、角色与环境场景 · 通过图像或草图创建3D模型 · 享受经过性能优化的快速模型生成体验 混元3D 2.0将生成过程分解为形状与纹理两部分：模型网格(即形状)由精密的规模化形状生成模型混元 3D-DiT构建，而纹理则通过大规模纹理合成模型混元3D-Paint生成。 根据腾讯发布的公告，混元3D能够"将制作时间从数天 ...

中经记者 郑瑜 北京报道 公开信息显示，腾讯通过两个主体对财付通小贷增资，其中深圳市腾讯网域计算机网络有限公司（腾讯 网域）出资42.5亿元，深圳市腾讯计算机系统有限公司（腾讯计算机）出资约2.24亿元。增资后，腾讯 网域出资142.5亿元，持股比例95%；腾讯计算机出资7.5亿元，持股比例为5%。 根据天眼查，财付通小贷近期出现包括地址、高级管理人员在内的多项变更，11月17日更新的变更包括 王鹏飞接任张钧担任总经理、取消监事会、注册地址从此前的入驻深圳市前海商务秘书有限公司，迁至 腾讯数码大厦等。履历显示，王鹏飞任职企业为重庆市微恒科技有限公司（以下简称"微恒科技"）。 据记者了解，目前，微信分付业务由财付通小贷提供信贷服务，由微恒科技提供运营服务。 随着小贷行业监管日趋严格，百亿元级注册资本逐渐成为头部机构的竞争筹码，行业内分化格局持续加 剧。日前，腾讯旗下深圳市财付通网络金融小额贷款有限公司（以下简称"财付通小贷"）大手笔增资44 亿元至150亿元。 本次增资，财付通小贷注册资本规模仍排名行业第二位。中国人民银行最新数据显示，截至2025年9月 末，全国小贷公司总量已降至4863家，巨头增资与出清并存 ...

Group 1: Market Overview - On November 27, the Hong Kong stock market saw a net inflow of 1.328 billion HKD from northbound trading, with 635 million HKD from the Shanghai Stock Connect and 693 million HKD from the Shenzhen Stock Connect [2] - The most net bought stocks included Alibaba-W (09988), Pop Mart (09992), and Meituan-W (03690), while the most net sold stocks were Zijin Mining (601899) (02899), Tencent (00700), and SMIC (00981) [2] Group 2: Stock Performance - Alibaba-W had a net inflow of 6.02 billion HKD, with a buy amount of 39.59 billion HKD and a sell amount of 33.57 billion HKD [3] - Pop Mart received a net inflow of 4.34 billion HKD, supported by positive sales data in the U.S. and expectations for strong performance during the holiday season [6] - Meituan-W had a net inflow of 3.25 billion HKD, with insights from Alibaba's CFO indicating a potential reduction in investment in flash purchase business due to improved efficiency [6] Group 3: Sector Insights - Longi Green Energy (601869) and Long Fiber (06869) saw a net inflow of 42.81 million HKD, driven by advancements in AI-driven growth and the development of next-generation optical fiber technology [7] - Semiconductor stocks, including Huahong Semiconductor (01347) and SMIC (00981), faced net sell-offs, with net outflows of 138.5 million HKD and 2.32 billion HKD respectively [7] - The IPO of domestic GPU leader Moore Threads has attracted attention, marking a significant event in the semiconductor sector [7]

1）业绩速递 维珍妮(02199.HK)：发布截至2025年9月30日止六个月的中期业绩，取得收入38.4亿港元，同比减少3.45%；净利润1.45亿港元，同比增加114.25%。 沪港联合(01001.HK)：发布截至2025年9月30日止6个月的中期业绩，该公司取得收入10.23亿港元，同比增加3.34%；利润5290万港元，同比减少3.64%。 迪生创建(00113.HK)：发布截至2025年9月30日止六个月的中期业绩，收入9.73亿港元，同比增长1.2%；净利润1.5亿港元，同比增长14.02%。 三和建筑集团(03822.HK)：发布截至2025年9月30日止六个月业绩，来自客户合约的收入4.7亿港元，同比增长20.8%；净利润4741.1万港元，同比增长 1364.7%。 智通财经11月27日讯（编辑 冯轶）智通财经为您带来今日港股重要公告 君实生物(01877.HK)：计划使用最高不超过人民币24亿元的暂时闲置募集资金进行现金管理。 中国安储能源(02399.HK)：与Guo Heng订立谅解备忘录 其拟进一步投资及参与能源相关项目。 兖矿能源(01171.HK)：附属拟3.45亿元收购高端支 ...

11月26日下午，香港大埔宏福苑发生五级火灾，牵动社会各界关注。阿里、京东、滴滴、腾讯、字节跳 动、联想等互联网大厂捐款捐物，驰援香港。 11月27日，马云公益基金会捐赠3000万港元驰援香港，向受灾家庭和个人提供经济援助。同时，阿里巴 巴集团启动首批捐款2000万港元，支援香港火灾救援及后续过渡安置、生活物资补给、情绪疏导等。蚂 蚁集团也捐赠1000万港元支援香港大埔火灾救援。 滴滴首批捐赠1000万港元，用于应急救援和人道救助，并将根据救灾进展持续提供后续支持。 腾讯基金会宣布，腾讯公益慈善基金会（香港）启动首批捐款1000万港元，用于受灾居民的紧急救援、 过渡安置、生活物资补给及情绪疏导等急需工作。 "滴滴公益救援"也已经联合深圳公益救援队，将在主管部门指挥调度下随时投入行动，全力参与灾后救 援与支援工作。 阿里巴巴集团启动应急救灾响应机制，旗下菜鸟等业务正调动最近距离食物、被褥等应急物资，送往受 灾地。 联想香港向大埔宏福苑五级火灾事件捐款1000万港元，用于受灾居民的紧急救援、生活物资补给、医疗 救助及后续善后工作。 雷军发文称，香港小米基金会捐赠1000万港元，紧急驰援香港大埔火灾救援。 此外，捐 ...

11月26日下午，香港大埔宏福苑发生五级火灾，牵动社会各界关注。阿里、京东、滴滴、腾 讯、字节跳动、联想等互联网大厂捐款捐物，驰援香港。 11月27日， 马云公益基金会 捐赠3000万港元驰援香港，向受灾家庭和个人提供经济援助。同 时， 阿里巴巴集团 启动首批捐款2000万港元，支援香港火灾救援及后续过渡安置、生活物资 补给、情绪疏导等。 蚂蚁集团 也捐赠1000万港元支援香港大埔火灾救援。 滴滴 首批捐赠1000万港元，用于应急救援和人道救助，并将根据救灾进展持续提供后续支 持。 腾讯基金会 宣布，腾讯公益慈善基金会（香港）启动首批捐款1000万港元，用于受灾居民的 紧急救援、过渡安置、生活物资补给及情绪疏导等急需工作。 记者丨孔海丽 刘雪莹 编辑丨张伟贤 在香港中联办帮助下，京东集团旗下香港佳宝超市作为首家将救援物资送达现场的企业，紧 急调配矿泉水、夹心饼干、麻薯、泡面等生活急需物资。火灾发生当晚，首批救援物资就已 从附近仓储发出，由专人专车送达受灾区域指定地点；目前第二批救援物资已装车完毕，将 根据现场需求随时调拨补充，切实保障受灾同胞的基本生活需求。 与此同时，京东物流也第一时间启动预案并成立应急小组 ...

Core Viewpoint - The article discusses the tragic fire incident at Hong Kong's Tai Po Wang Fuk Court, resulting in significant casualties and extensive community support for the victims and their families [1][2]. Group 1: Incident Overview - A fire broke out in multiple residential buildings at Wang Fuk Court, Tai Po, on November 26, leading to 55 fatalities as reported by the Hong Kong Fire Services Department [1]. - The Hong Kong government and various sectors mobilized efforts for firefighting, rescue, and support for the affected individuals [1]. Group 2: Donations and Support Initiatives - The Li Ka Shing Foundation announced an immediate allocation of HKD 30 million for emergency relief and an additional HKD 50 million for ongoing support to assist community recovery [2][4][6]. - The Ho Ying Tung Foundation and Ho Ying Tung Group pledged HKD 30 million to aid the residents affected by the fire, emphasizing the need for collective community support [7][11]. - Various organizations, including Tencent Charity Foundation, Alibaba Group, and Xiaomi Foundation, have also committed substantial donations, totaling millions of Hong Kong dollars for emergency relief and recovery efforts [15][18][19].

| 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 36.70 亿元 | +3.17 亿元 | | 小米集团-W(01810) | 16.48 亿元 | -1.52 亿元 | | 腾讯控股(00700) | 14.50 亿元 | -9402.12 万元 | | 中芯国际(00981) | 13.26 亿元 | +1.98 亿元 | | 美团-W(03690) | 10.25 亿元 | +1.74 亿元 | | 泡泡玛特(09992) | 9.92 亿元 | +1.45 亿元 | | 康方生物(09926) | 6.10 亿元 | +6873.79 万元 | | 长飞光纤光缆(06869) | 5.87 亿元 | +883.17 万元 | | 华虹半导体(01347) | 5.41 亿元 | +7201.23 万元 | | 药明生物(02269) | 5.15 亿元 | -1.11 亿元 | | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 73.15 亿元 | +6.0 ...

Core Insights - The article highlights the significant impact of artificial intelligence (AI) on the financial performance and capital expenditure strategies of major tech companies, indicating that AI is now a critical component of their business models [3][5][14]. Group 1: Big Tech Performance - In Q3 2025, major tech companies like Microsoft, Alphabet, Amazon, Meta, and Apple reported strong revenue growth driven by AI and cloud services, with double-digit revenue gains [3][5]. - Microsoft experienced an 18% year-on-year revenue increase to $77.7 billion, largely due to demand for AI-enhanced Azure services, with capital expenditure reaching nearly $35 billion [9]. - Alphabet's revenue rose 16% to $102.3 billion, benefiting from enterprise AI demand, and it increased its 2025 capex guidance to $91–93 billion [9]. - Amazon's capital expenditure for the first three quarters of 2025 was $89.9 billion, with AWS revenue growing 20% in Q3, marking its fastest growth in years [9]. - Meta reported a 26% year-on-year revenue growth, with Q3 capex reaching $19.4 billion, as it plans to invest heavily in AI infrastructure [9]. - Apple achieved a record $94 billion in revenue for its June quarter, emphasizing significant growth in AI investments across its devices and services [9]. Group 2: Alibaba and Tencent's Strategies - Alibaba reported a 5% year-on-year revenue increase to RMB 247,795 million (US$34,769 million) but faced a 53% decline in net income to RMB 20,612 million (US$2,893 million) due to heavy investments [7]. - Tencent's revenue rose 15% year-on-year to RMB 192.9 billion (about $27 billion), with net profit increasing by 19%, showcasing resilience amid economic challenges [8]. - Tencent's capital expenditure in Q3 2025 was approximately RMB 13 billion (~$1.8 billion), down 24% from the previous year, indicating a more conservative spending approach compared to U.S. counterparts [13]. - Tencent's advertising revenue surged 21% year-on-year, attributed to AI-driven improvements in ad targeting and creativity [10]. Group 3: AI Infrastructure Investment - Big Tech companies are treating AI and cloud infrastructure as foundational investments, with capital expenditure profiles resembling national-scale infrastructure projects [6]. - The article notes a divergence in strategies, with U.S. firms focusing on building extensive AI infrastructure while Tencent emphasizes integrating AI into its existing ecosystem [14][19]. - The heavy spending on AI infrastructure by U.S. companies is solidifying their market dominance, creating a competitive landscape where smaller players may struggle to keep pace [14]. Group 4: Future Outlook - The article suggests that the AI investment cycle is global and shows no signs of slowing, with companies needing to demonstrate that their AI investments can drive sustainable growth [17][18]. - The contrasting strategies of U.S. tech giants and Chinese companies like Alibaba and Tencent may shape the future of AI monetization and efficiency [19].