今天指数不太行，核心还是ai退潮，但其他板块也没啥能站出来打的。 上午一度消费和家电板块还不错，但下午也就熄火了。短期内还是得熬到出各种政策，长期看需要各种 实际数据改善，这话说了很多遍都已经烂了，但就是这么回事。 1、老普暗示下一任美联储主席为哈赛特，意味着换人时间近了，降息和宽松可能也要来了，美元指数 走低，美股、币圈、黄金、白银等都开涨，人民币汇率创14个月新高。 2、腾讯昨日回购6亿，小米前日回购4亿、昨日回购1亿。不管怎样，和有回购的公司在一起，还是多一 份安全感。 3、朱雀三号回收失败，航天板块暴跌。其实失败很正常，SpaceX也失败过很多次，但用这玩意儿炒股 真和开大小差不多。 ...

日期 回购股数 今年以来该股累计进行113次回购，合计回购1.36亿股，累计回购金额692.29亿港元。（数据宝） 腾讯控股回购明细 证券时报•数据宝统计，腾讯控股在港交所公告显示，12月4日以每股605.000港元至613.000港元的价格 回购104.40万股，回购金额达6.36亿港元。该股当日收盘价612.000港元，上涨0.16%，全天成交额93.30 亿港元。 （万港元） 2025.12.04 104.40 613.000 605.000 63571.29 2025.12.03 104.00 616.000 609.000 63562.47 2025.12.02 102.80 625.500 615.500 63591.56 2025.12.01 102.90 623.000 613.000 63593.24 2025.11.28 103.90 616.500 609.000 63560.93 2025.11.27 103.60 620.000 609.000 63568.33 2025.11.26 102.20 629.000 618.500 63565.95 2025.11.25 101.40 ...

转自：北京日报客户端 为进一步提升社会公众防灾能力，发挥国家地震预警工程的社会服务效益，台网中心持续加强基于智能 手机的地震预警社会公共服务渠道建设工作，通过与智能手机厂商的密切协作，目前接入中国地震预警 网的手机用户累计已突破2000万。 当地网友 来源：中国地震台网 图片来自 截至目前，通过全国第三方监管平台接入中国地震预警网的智能手机终端已突破2000万用户，标志着通 过手机实时直达社会公众的地震预警公共服务体系正式迈入规模化应用阶段，这也为未来进一步拓展智 能终端适配、完善链路能力、提升预警服务精度与覆盖范围打下了坚实的基础。 服务应用 2025年12月4日，新疆阿合奇发生6.0级地震，造成阿图什，阿克苏，喀什，伊宁等多地震感明显。 中国地震预警网产出的预警信息通过多种方式向当地民众提供预警信息服务，其中小米手机推送31102 人，华为手机推送39007人，微信小程序推送70247人，发挥了良好的社会服务效益。此次地震预警是基 于智能手机公众预警服务全链条打通后的首次实际检验，体现了高度的自动化服务水平。 基于智能手机向社会公众提供预警信息服务是最直接、最便捷的公共服务渠道。今年，台网中心先后完 成小 ...

Core Viewpoint - The article discusses the challenges and considerations surrounding Apple's potential entry into the automotive industry, emphasizing that the company's culture prioritizes user value over business ventures [6][10]. Group 1: Industry Insights - The article highlights the impact of AI as the fourth industrial revolution, suggesting that it influences various sectors and emphasizes the importance of maintaining common sense and value amidst market noise [6][9]. - It mentions that the current market share of Apple is only 23%, indicating that there is still significant room for growth despite the rise of AI technologies [10]. - The author categorizes consumer products into two types: "Save Time" products that enhance efficiency and "Kill Time" products that provide entertainment, noting that the majority of consumers seek entertainment options [10][11]. Group 2: Product Development and Consumer Needs - The article critiques the focus on efficiency in product development, arguing that many tech companies overlook the basic entertainment needs of the majority of consumers [10][11]. - It provides examples of failed products that were developed without understanding consumer needs, such as voice assistants that did not gain popularity due to a lack of real demand [11][13]. - The author emphasizes that successful products often stem from understanding what consumers truly need rather than what companies want to create [13][14]. Group 3: Competitive Landscape - The article discusses how companies like Apple and Tencent have become defenders of their ecosystems, highlighting the importance of user experience and customer loyalty in maintaining competitive advantage [14][15]. - It notes that companies must focus on specific elements such as speed, cost, or enjoyment to differentiate themselves in the market, with examples from various companies illustrating different strategies [15][16]. - The article warns that new technologies must demonstrate clear benefits to gain widespread acceptance, as seen in the reluctance to adopt AI-driven applications that do not offer obvious advantages [20][22]. Group 4: Future Trends - The article predicts that AI will inevitably transform search engines and other sectors, with significant market opportunities in areas like AI-driven search and autonomous driving [17][18]. - It cautions against overreacting to potential disruptions caused by AI in established sectors like e-commerce and social media, suggesting that fundamental human communication needs will remain unchanged [18][19]. - The author concludes that while AI applications focused on efficiency may not excite the broader market, entertainment applications will have a more substantial long-term impact on consumer behavior and industry dynamics [22].

Core Insights - On December 4, 2023, Sanhua Intelligent Control made its debut on the Hong Kong Stock Connect active trading list for the first time in a month, with a trading volume of 0.853 billion HKD and a net sell of 0.057 billion HKD, closing up by 7.70% [1] Trading Activity Summary - The total trading volume of active stocks on the Hong Kong Stock Connect on December 4 was 28.218 billion HKD, accounting for 37.28% of the day's total trading amount, with a net buying amount of 1.402 billion HKD [1] - Alibaba-W led the trading volume with 5.318 billion HKD, followed by Tencent Holdings and Xiaomi Group-W with trading amounts of 5.271 billion HKD and 4.995 billion HKD, respectively [1] - The most frequently listed stocks in the past month were Alibaba-W and Tencent Holdings, each appearing 22 times, indicating strong interest from Hong Kong Stock Connect investors [1] Individual Stock Performance - Sanhua Intelligent Control's trading details on December 4 included a trading volume of 0.853 billion HKD, a net sell of 0.057 billion HKD, and a closing price of 34.960 HKD, reflecting a daily increase of 7.70% [1] - Other notable stocks included: - Tencent Holdings: Trading volume of 5.271 billion HKD, net sell of 1.346 billion HKD, closing price of 612.000 HKD, daily increase of 0.16% [1] - Xiaomi Group-W: Trading volume of 4.995 billion HKD, net buy of 0.232 billion HKD, closing price of 41.980 HKD, daily increase of 4.38% [1] - Alibaba-W: Trading volume of 5.318 billion HKD, net sell of 0.010 billion HKD, closing price of 154.400 HKD, daily increase of 0.52% [1]

Group 1 - The Hang Seng Index rose by 0.68% to close at 25,935.90 points on December 4, with a net inflow of HKD 1.48 billion through the southbound trading channel [1] - The total trading volume for the southbound trading on December 4 was HKD 75.688 billion, with a net buy of HKD 1.48 billion [1] - In the Shanghai-Hong Kong Stock Connect, the trading volume was HKD 46.347 billion with a net sell of HKD 1 billion, while the Shenzhen-Hong Kong Stock Connect had a trading volume of HKD 29.341 billion with a net buy of HKD 2.481 billion [1] Group 2 - In the top ten active stocks for the Shanghai-Hong Kong Stock Connect, Tencent Holdings had the highest trading amount of HKD 37.50 billion, followed by Alibaba-W and Xiaomi Group-W with HKD 29.39 billion and HKD 26.78 billion respectively [1] - The stock with the highest net buy was the Tracker Fund of Hong Kong (盈富基金) with a net buy of HKD 2.107 billion, closing up by 0.77% [1] - Tencent Holdings had the highest net sell amount of HKD 1.919 billion, closing up by 0.16% [1] Group 3 - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W led with a trading amount of HKD 23.79 billion, followed by Xiaomi Group-W and Tencent Holdings with HKD 23.16 billion and HKD 15.21 billion respectively [2] - The stock with the highest net buy in the Shenzhen-Hong Kong Stock Connect was Xiaomi Group-W with a net buy of HKD 0.794 billion, closing up by 4.38% [2] - The stock with the highest net sell in the Shenzhen-Hong Kong Stock Connect was Kuaishou-W with a net sell of HKD 0.094 billion, closing up by 0.15% [2]

Market Overview - On December 4, the Hang Seng Index rose by 0.68%, with southbound funds totaling HKD 756.88 billion in trading volume, including HKD 385.84 billion in buying and HKD 371.04 billion in selling, resulting in a net buying amount of HKD 14.80 billion [1] Southbound Trading Activity - The southbound trading through Stock Connect (Shenzhen) had a cumulative trading volume of HKD 293.41 billion, with net buying of HKD 24.81 billion, while the Stock Connect (Shanghai) recorded a cumulative trading volume of HKD 463.47 billion, resulting in a net selling of HKD 10.00 billion [1] Active Stocks - Alibaba-W had the highest trading volume among southbound funds at HKD 53.18 billion, followed closely by Tencent Holdings at HKD 52.71 billion and Xiaomi Group-W at HKD 49.95 billion [1] - The top net buying stocks included the Tracker Fund of Hong Kong (盈富基金) with a net buying amount of HKD 26.06 billion, followed by WuXi Biologics (药明生物) with HKD 3.16 billion and Xiaomi Group-W with HKD 2.32 billion [1] Continuous Net Buying and Selling - Three stocks experienced continuous net buying for more than three days, with Meituan-W leading at six days, followed by Xiaomi Group-W at five days and Xpeng Motors-W at three days. The total net buying amounts were HKD 22.89 billion for Meituan-W, HKD 20.53 billion for Xiaomi Group-W, and HKD 1.67 billion for Xpeng Motors-W [2] - The stocks with the highest net selling included Semiconductor Manufacturing International Corporation (中芯国际) and Tencent Holdings, with total net selling amounts of HKD 34.49 billion and HKD 24.60 billion, respectively [2] Summary of Active Stocks on December 4 - The following table summarizes the active stocks with their trading amounts, net buying/selling, and daily price changes: | Code | Name | Trading Amount (HKD million) | Net Buying (HKD million) | Daily Change (%) | |-------|--------------------|------------------------------|--------------------------|-------------------| | 02800 | Tracker Fund | 284623.16 | 260585.86 | 0.77 | | 02269 | WuXi Biologics | 51978.36 | 31558.31 | 7.09 | | 01810 | Xiaomi Group-W | 499493.94 | 23169.32 | 4.38 | | 09868 | Xpeng Motors-W | 73564.27 | 10257.11 | 1.06 | | 01347 | Hua Hong Semiconductor | 159937.95 | 5363.70 | 3.11 | | 00883 | CNOOC | 47173.84 | 3007.07 | 0.92 | | 09880 | UBTECH Robotics | 73333.99 | 954.58 | 3.66 | | 03690 | Meituan-W | 171510.39 | 856.38 | 2.29 | | 09988 | Alibaba-W | 531828.80 | -117.31 | 0.52 | | 02050 | Sanhua Intelligent Control | 85349.48 | -5657.75 | 7.70 | | 01024 | Kuaishou-W | 54889.05 | -9372.22 | 0.15 | | 00981 | Semiconductor Manufacturing International | 260990.47 | -45829.01 | 3.87 | | 00700 | Tencent Holdings | 527122.94 | -134592.99 | 0.16 |

Company News - Xinyi International (00732.HK) reported an unaudited consolidated revenue of approximately HKD 1.278 billion for November, a year-on-year decrease of about 14.9%. The cumulative revenue for the first 11 months was approximately HKD 15.259 billion, down 6.2% year-on-year [2] - Jieli Trading (08017) announced an increase of 10 institutional clients by November 2025, up by 4 clients year-on-year. The registered user count reached approximately 883,100, a year-on-year increase of 6.2%, while the number of users for IPO subscriptions was about 113,100, reflecting an 8.2% year-on-year growth [2] - China Overseas Development (00688.HK) reported a cumulative contract property sales amount of approximately RMB 211.399 billion for the first 11 months, a year-on-year decline of 21.8% [2] - Gemdale Commercial (00535.HK) recorded a cumulative contract sales total of approximately RMB 9.874 billion for the first 11 months, down 43.5% year-on-year [2] - China Overseas Hongyang Group (00081) reported a cumulative contract sales amount of RMB 29.615 billion for the first 11 months, a year-on-year decrease of 16.6% [2] - Sunac China (01918.HK) achieved a cumulative contract sales amount of approximately RMB 33.89 billion for the first 11 months, a year-on-year decrease of 25.34% [2] - Hongyang Real Estate (01996.HK) reported a cumulative contract sales amount of RMB 4.181 billion for the first 11 months, down 47.87% year-on-year [3] - Country Garden (02007.HK) achieved a contract sales amount of approximately RMB 2.35 billion in November [4] - China Biopharmaceutical (01177.HK) received NMPA and FDA approval for the clinical trial application of "TQF3250," an oral GLP-1 receptor agonist [4] Buyback Activities - Yueda Group (00772.HK) plans to repurchase up to 102.2 million shares with a maximum total expenditure of HKD 1.2 billion [5] - Tencent Holdings (00700.HK) repurchased approximately 1.044 million shares for about HKD 636 million, with repurchase prices ranging from HKD 605 to HKD 613 [5] - Xiaomi Group-W (01810.HK) repurchased 2.4 million shares for approximately HKD 101 million, with a repurchase price of HKD 41.88 [5] - COSCO Shipping Holdings (01919.HK) repurchased 3 million shares for approximately HKD 41.8218 million, with repurchase prices between HKD 13.89 and HKD 13.99 [5] - Kuaishou-W (01024.HK) repurchased 445,000 shares for approximately HKD 29.923 million, with repurchase prices ranging from HKD 67.00 to HKD 67.55 [6] - China Feihe (06186.HK) repurchased 6.281 million shares for approximately HKD 25.7521 million, with a repurchase price of HKD 4.1 [7] - Green Tea Group (06831.HK) plans to repurchase shares with a total price not exceeding HKD 130 million [7]

本文源自：市场资讯 国家知识产权局信息显示，腾讯科技（深圳）有限公司申请一项名为"任务调度方法、装置、电子设备 及存储介质"的专利，公开号CN 121050841 A，申请日期为2024年5月。专利摘要显示，本申请涉及计 算机技术领域，尤其涉及一种任务调度方法、装置、电子设备及存储介质，所述方法包括：从所述预设 资源中确定多个候选资源；对所述多个候选资源进行性能分析，得到所述多个候选资源各自对应的资源 性能信息；对所述每个候选资源的资源性能信息，以及所述目标任务与所述每个候选资源的标签匹配度 进行数据融合处理，得到所述目标任务与所述每个候选资源的关联度基于所述目标任务与所述每个候选 资源的关联度，从所述多个候选资源中确定目标资源；将所述目标任务分配给所述目标资源。本申请能 够在提高任务分配效率的同时，实现各资源的负载均衡，进而提高资源利用率以及任务处理效率。 作者：情报员 天眼查资料显示，腾讯科技（深圳）有限公司，成立于2000年，位于深圳市，是一家以从事软件和信息 技术服务业为主的企业。企业注册资本200万美元。通过天眼查大数据分析，腾讯科技（深圳）有限公 司共对外投资了15家企业，参与招投标项目275次， ...

Investment Rating - The report does not explicitly state an investment rating for the industry. Core Insights - The emergence of AI is significantly transforming the structure, scale, and boundaries of enterprises, leading to the concept of "Agent-native enterprises" that operate in collaboration with AI, resulting in lower operational costs [9]. - The report emphasizes the need for enterprise-level applications of AI, highlighting the differences between consumer-grade and enterprise-grade AI applications, particularly in terms of reliability, security, and compliance [18]. - A unified data governance framework is essential for effectively managing both structured and unstructured data, addressing the current challenges of data silos and inefficiencies in data utilization [93][99]. Summary by Sections PART 1: Evolution from Response to Execution - The transition from traditional media applications to AI-driven solutions is discussed, emphasizing the need for businesses to adapt to AI capabilities for improved efficiency and effectiveness [12][15]. PART 2: Tencent Cloud Intelligent Agent Development Platform - The platform supports various application modes, including standard, workflow, and multi-agent modes, catering to diverse business needs [49][50]. - The platform's advantages include high accuracy in task execution, strong multi-agent collaboration capabilities, and comprehensive security and compliance features [47]. PART 3: Unified Data Governance in the AI Era - The report outlines the current state of media data systems, identifying issues such as data fragmentation and the lack of a unified processing framework for structured and unstructured data [96][103]. - It highlights the importance of integrating data insights into business strategies to enhance decision-making processes [110].