Key Points - The top three stocks with net inflow of southbound funds are Alibaba-W (09988) with 5.278 billion, Yingfu Fund (02800) with 2.782 billion, and Hang Seng China Enterprises (02828) with 1.566 billion [1] - The top three stocks with net outflow of southbound funds are Xiaomi Group-W (01810) with -0.721 billion, Innovent Biologics (01801) with -0.466 billion, and Pop Mart (09992) with -0.458 billion [1] - In terms of net inflow ratio, Yuexiu Transportation Infrastructure (01052) leads with 63.76%, followed by Crystal International (02232) with 56.34%, and China Resources Gas (01193) with 53.63% [1] - The stocks with the highest net outflow ratio include QuanFeng Holdings (02285) at -59.36%, Yadea Group (01585) at -54.53%, and TCL Electronics (01070) at -54.28% [1] Net Inflow Rankings - The top ten stocks by net inflow include Alibaba-W (09988) with 5.278 billion, Yingfu Fund (02800) with 2.782 billion, and Hang Seng China Enterprises (02828) with 1.566 billion [2] - Other notable stocks in the net inflow list are Meituan-W (03690) with 0.670 billion and Southern Hang Seng Technology (03033) with 0.620 billion [2] Net Outflow Rankings - The top ten stocks by net outflow include Xiaomi Group-W (01810) with -0.721 billion, Innovent Biologics (01801) with -0.466 billion, and Pop Mart (09992) with -0.458 billion [2] - Other significant stocks in the net outflow list are Li Auto-W (02015) with -0.298 billion and China Construction Bank (00939) with -0.254 billion [2] Net Inflow Ratio Rankings - The top three stocks by net inflow ratio are Yuexiu Transportation Infrastructure (01052) at 63.76%, Crystal International (02232) at 56.34%, and China Resources Gas (01193) at 53.63% [3] - Additional stocks with high net inflow ratios include China Ship Leasing (03877) at 49.13% and Jiangsu Ninghu Expressway at 45.49% [3] Net Outflow Ratio Rankings - The stocks with the highest net outflow ratios include QuanFeng Holdings (02285) at -59.36%, Yadea Group (01585) at -54.53%, and TCL Electronics (01070) at -54.28% [3] - Other notable stocks with significant net outflow ratios are Kangji Medical (09997) at -53.77% and QiuTai Technology (01478) at -47.17% [3]

Group 1 - Tencent's "Delta Action" anniversary celebration will take place on September 21, featuring offline experiences, online live streaming, and the "2025 Fire World Cup Finals" [1] - The anniversary event is expected to drive significant revenue growth, similar to the "100 billion subsidy" during the May Day holiday, through limited skin sales and event-related collaborations [1] - The capital market has formed clear performance expectations, positioning Tencent's FPS segment as a potential catalyst for investor interest [1] Group 2 - Xinghui Games has launched the pre-selection state feature for its mobile game "Three Kingdoms: Strategy of the Nine Provinces," enhancing user retention and optimizing the alliance experience [2] - This feature allows alliance leaders to secure servers and birth states once their alliance reaches 80 members, facilitating a smoother entry for players during the public test [2] - Xinghui Games' strategic focus on deepening classic products is evident in the pre-launch preparations for "Three Kingdoms: Strategy of the Nine Provinces," aimed at strengthening user loyalty amid intense market competition [2] Group 3 - Chuangmeng Tiandi's mobile game "Kara Bichu" has surpassed 8 million pre-registrations ahead of its official launch in October, indicating strong market anticipation for domestic innovative shooting games [3] - The game has already demonstrated international potential by being the first domestic shooting game to participate in the Saudi eSports World Cup, enhancing its global value [3] - The company's dual strategy of "self-developed + overseas distribution" is expected to clarify its profit structure, with a focus on both new product contributions and stable cash flow from classic products [3]

Group 1: Open Market Operations - The central bank announced a 7-day reverse repurchase operation on September 17, with a fixed rate and quantity tendering of 418.5 billion yuan at an interest rate of 1.40%, with the same amount being the winning bid [1] - On the same day, 304 billion yuan of reverse repos matured, resulting in a net injection of 114.5 billion yuan [1] Group 2: Funding Conditions - The funding conditions remain tight due to ongoing tax payment impacts, with the overnight repo weighted average rate for deposit institutions rising over 4 basis points to around 1.48% [3] - Overnight funding quotes in the anonymous click (X-repo) system approached 1.6%, indicating scarce supply [3] - The latest overnight financing rate in the U.S. is reported at 4.51% [3] Group 3: Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks is around 1.68%, showing a slight decrease from the previous day [7] Group 4: Bond Market Overview - Major interest rate bonds in the interbank market have generally seen a decline in yields [9] - The closing prices for government bond futures showed collective increases, with the 30-year main contract rising by 0.31%, the 10-year by 0.13%, the 5-year by 0.10%, and the 2-year by 0.04% [13] Group 5: Fiscal Revenue and Debt Issuance - From January to August, the national general public budget revenue reached 1,481.98 billion yuan, a year-on-year increase of 0.3%, with stamp duty revenue at 28.44 billion yuan, up 27.4% [13] - The central bank is actively supporting qualified financial institutions in issuing financial bonds and asset-backed securities to enhance funding sources and improve consumer credit supply capabilities [13] Group 6: Bond Market Events - The Ministry of Finance plans to issue 60 billion yuan of 182-day discount treasury bonds on September 24 [18] - The China Development Bank will issue up to 25 billion yuan of fixed-rate bonds on September 18 [18] - Tencent is set to issue bonds for the first time in four years, raising approximately 9 billion yuan [18]

Market Overview - The Hang Seng Index (HSI) closed at 26,797.18, down by 111.21 points or 0.41% on September 17 [1] - The index reached a high of 26,915.65 and a low of 26,708.53 during the trading session, with a trading volume of 112 million shares [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 108.373, up by 1.66% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 661.407, down by 0.01% compared to the Hong Kong close [2] Stock Price Movements - Tencent Holdings (00700) saw an increase of HKD 16.500, or 2.56%, with an ADR price of HKD 661.407, showing a slight decline of HKD 0.093 compared to the Hong Kong market [3] - Alibaba Group (09988) increased by HKD 8.100, or 5.28%, with an ADR price of HKD 161.550, down by HKD 0.050 [3] - Other notable movements include: - Meituan (03690) up by HKD 4.900, or 4.89% [3] - Baidu Group (09888) up by HKD 17.800, or 15.72% [3] - Kuaishou (01024) up by HKD 2.650, or 3.51% [3]

开场环节，腾讯集团高级执行副总裁汤道生以数字分身身份亮相，完成整段演讲。他指出腾讯AI发展始终锚定两个方向：一是内部多元生态 的实践，二是外部产业的真实需求。 他还提到，大模型落地效果较好的场景包括客服、销售话术、知识问答、情感陪伴、文档总结等，需要将语言与逻辑推理能力与企业数据、流 程结合，同时具备联网与系统调用能力，完成任务。 针对这些现实需求，腾讯还在会上披露了智能体开发平台3.0的技术机制：通过接入大模型，融合文档解析、知识检索、流程编排等组件，帮 助企业将原有的数据、规则与任务流程结构化拆解，并交由Agent完成问答、调用或执行。在处理复杂任务时，平台也支持多Agent协同，并可 嵌入企业原有系统中运行。 一、智能体开发平台3.0版本上线，开放全链路Agent开发能力 在本次峰会上，腾讯云副总裁吴运声对昨日发布的腾讯智能体开发平台3.0进行了详细介绍。 据其介绍，腾讯云智能体开发平台面向企业用户提供完整的智能体构建能力，底层能力包括权限体系、数据库、合规机制与运行环境，中间集 成RAG引擎、工作流引擎与Agent引擎，同时配套模型广场、插件工厂、构建模板等模块，支持从开发、调试、评测、发布到运营的全 ...

Core Viewpoint - The Hong Kong stock market has seen a significant increase in attractiveness for capital, driven by factors such as the Federal Reserve's interest rate cuts and the catalyzing effect of the artificial intelligence (AI) industry [1] Fund Performance - The launch of Hong Kong-themed funds has been notable, with the Tianhong Guozheng Hong Kong Stock Connect Technology Index raising over 2.5 billion yuan, setting a record for new fund launches this year [2] - Hong Kong-themed ETFs have also experienced strong inflows, with net inflows exceeding 10 billion yuan since September, particularly in ETFs tracking the Hong Kong Stock Connect Internet Index [2][3] - Notable inflows have been recorded in various indices, including the Hang Seng Technology Index and Hong Kong Stock Connect Technology Index, with net inflows of 67.67 billion yuan and 59.09 billion yuan respectively [3] Southbound Capital Inflows - Southbound capital has accelerated its allocation to Hong Kong stocks, with net purchases exceeding 60 billion HKD in a single week, marking a five-month high [4] - The E Fund Hong Kong Stock Connect Growth Mixed Fund has implemented purchase limits due to its strong performance, with a year-to-date return of 56.21% [4] Market Valuation and AH Premium - The AH premium has reached a low point, leading to discussions about the valuation of Hong Kong stocks. Some analysts believe the current AH premium is reasonable, with potential for further narrowing [1][6] - The Hang Seng Technology Index has recently risen, with significant gains in major tech stocks such as Baidu and Alibaba, indicating a positive market sentiment [6] Future Outlook - Analysts suggest that the AI technology and new consumption sectors have substantial growth potential, which could drive the Hong Kong market upward [7] - Continuous inflows from southbound capital and a low domestic interest rate environment may lead to increased allocations to the Hong Kong market [7] - The potential for further interest rate cuts by the U.S. could enhance global liquidity, supporting the Hong Kong market's growth [7]

Core Viewpoint - The introduction of a unified cross-border QR code payment gateway in China aims to enhance the payment experience for international travelers by addressing compatibility issues and streamlining payment processes [1][4]. Group 1: Unified Gateway Overview - The unified gateway is a cross-border payment infrastructure developed under the guidance of the People's Bank of China, allowing domestic and foreign institutions to connect through a single interface for QR code payment cooperation [2][5]. - Since its trial launch at the end of July, the unified gateway has attracted numerous foreign wallets, with Ant Group and Tencent leading the initial pilot [2][3]. Group 2: Participation and Integration - Ant Group's Alipay now supports seven major international card brands and 31 electronic wallets from 12 countries and regions, with recent additions from Indonesia, Uzbekistan, and Thailand [2][3]. - Tencent's WeChat wallet and several other international wallets, including PayPal and various Southeast Asian wallets, are set to integrate with the unified gateway [2][3]. Group 3: Operational Impact - As of September 11, the unified gateway has processed 1.981 million transactions, amounting to 427 million yuan [3]. - The unified gateway aims to resolve previous issues of fragmented payment systems and enhance the interoperability of payment platforms, thereby simplifying cross-border transactions [4][5]. Group 4: Future Prospects - The unified gateway is expected to facilitate tourism, commerce, and cultural exchanges by creating a seamless payment experience for foreign visitors in China [6]. - The gateway will continue to expand its network of participating institutions and enhance cross-border payment capabilities [7].

原标题：微信重大功能上线，网友：终于可以发了 9月16日，不少网友在社交平台透露称微信聊天可发实况图了。 有媒体咨询微信客服得知，此功能暂时仅支持iOS客户端，客户端版本号要求8.0.61及以上（安卓/鸿蒙 正在适配）；聊天中从相册选择实况照片发送，默认实况为关闭状态，发送照片时点击进入大图预览页 面可手动开启单个照片的实况开关。好友浏览点开大图后需点击左下角的"实况"按钮查看完整效果，同 时支持将实况照片保存到手机系统相册。 此外，iPhone 6s、6s Plus、SE等机型暂不支持该功能。 客服还表示，该功能正逐步上线中，请关注后续功能更新。 微信已上线公众号"智能回复" 此前，微信派11日表示，微信上线公众号"智能回复"功能。 第一步，开启分身。在公众号 PC 端后台"互动管理"内点击"自动回复"，即可开启"智能回复"。 "智能回复"将自动学习你的历史文章信息、回复语言风格等，完成后就能作为"数字分身"回复后台私 信。你还能通过添加知识库、编写Prompt等方式，把"数字分身"变成你想要的模样。该能力由腾讯混元 大模型提供技术支持。 "智能回复"目前已向个人创作者全量开放。 从此后台留言红点连成一片， ...

李强在腾讯数字生态大会上作主题分享。 深圳商报·读创客户端首席记者 袁静娴 "拥抱大模型，这是企业的'必答题'，已经不是'可选题'。"在2025腾讯全球数字生态大会召开前夕，腾 讯集团副总裁、政企业务总裁李强在接受深圳商报记者专访时这样强调。他提醒企业既要积极拥抱人工 智能，也要避免盲目迷信，应从营销、服务、知识管理等容易见效的场景入手，"小步快走、快速迭 代"。 这种务实的判断，也在9月16日的大会主论坛上得到呼应。李强在演讲中直言，全球化竞争已经从"规模 扩张"转向"效率比拼"，而人工智能正是驱动效率变革的核心引擎。 百年珠宝品牌周大福，通过腾讯智慧零售解决方案，沉淀了5300万+会员，实现了线上线下的全面打 通，并借助企业微信将导购服务延伸至线上，显著提升转化率与客户黏性。零售行业过去依赖流量红 利，但随着移动互联网进入存量竞争阶段，获客成本高企、用户注意力分散已成共识。周大福的案例显 示，AI和大数据正在帮助品牌完成转型，从"一次性交易"走向"长期关系经营"。 在金融业，中国银行基于腾讯云构建分布式技术平台和国产数据湖，能够支撑10亿级客户的并发访问， 并在全行部署4000多个AI模型，应用于风控、营 ...

Core Viewpoint - The launch of the "Cross-Border QR Code Unified Gateway" aims to enhance the efficiency of cross-border payments and improve the payment experience for foreign users in China [2][6]. Group 1: Key Developments - The People's Bank of China announced the progress of the "Cross-Border QR Code Unified Gateway" to facilitate cross-border payment cooperation among domestic and foreign institutions [2][6]. - Tencent has committed to opening its WeChat Pay service to support more foreign wallets for QR code payments in China, with several international wallets set to be integrated soon [3][4]. - Ant Group's Alipay is among the first institutions to participate in the pilot of the "Cross-Border QR Code Unified Gateway," supporting seven major international card brands and 31 electronic wallets from 12 countries and regions [4][5]. Group 2: Benefits and Features - The unified gateway addresses three main pain points: the complexity of technical integration, cost efficiency, and user experience for foreign wallets entering the Chinese market [6][7]. - By establishing a standardized cooperation framework, the gateway reduces the technical burden and enhances the efficiency of introducing foreign wallets, avoiding market fragmentation [6][7]. - Users can utilize their existing wallet apps without additional registration or complex settings, allowing for a seamless payment experience in China [7]. Group 3: Industry Impact - The initiative is expected to enhance the overall synergy of China's payment industry and improve its international competitiveness [6][7]. - The gateway allows for real-time processing of transaction information, ensuring efficient and orderly cross-border payment operations [7].