Core Viewpoint - Tencent's founder Ma Huateng expressed concerns about the safety of the Doubao phone, jointly launched by ByteDance and ZTE [1] Group 1 - Doubao phone assistant acknowledged public concerns regarding security and privacy [1] - The assistant adheres to user authorization and compliance principles, only accessing necessary capabilities with explicit user consent [1] - Data processing in the cloud follows a "no storage, no training" principle, ensuring encrypted data transmission and strict protective measures to safeguard user privacy [1]

1月26日，在一年一度的腾讯员工大会上，谈到对腾讯元宝的期待时，腾讯CEO马化腾坦言。 在现场，马化腾首先回顾过去几年腾讯触底反弹的过程：2021年到2023年疫情期间，行业进入寒冬期， 腾讯提出"聚焦主业、降本增效、减脂增肌"，在随后几年中很快恢复增长，并且在AI的投入上持续加大 力度。 在他看来，ChatGPT和DeepSeek改变AI发展的进程，但每个企业穿越周期的节奏不一样，过往业务的长 青保证腾讯在AI上可以长期投入。"每个企业的基因不同、体质不同，腾讯的风格就是稳扎稳打。"他表 示，在AI战略上，腾讯有自己的考虑和节奏，核心是产品的长期竞争力和用户的体验，现在正在各个 业务板块和平台上仔细思考，持续点亮新的技能。 值得注意的是，马化腾此次还点评了行业动态：对于字节和中兴推出的豆包手机，以及阿里千问接入宣 布全面接入淘宝、支付宝、淘宝闪购、飞猪、高德等阿里生态业务，打通400多项功能一事，马化腾强 调腾讯的安全立场，表示腾讯一贯旗帜鲜明的反对用黑产外挂的方式把用户的手机和电脑屏幕录屏传到 云端，因为这是极其不安全、不负责任的。 这番言论立刻引起了行业关注。1月26日，豆包手机助手官方微博就外界关注的 ...

与主流的单一交互的Chatbot（对话机器人）不同，"元宝派"更像是一个能让AI陪一群人玩的"社交空 间"，从"人机交互"到"人机共生"，在这个有AI的社交空间里，用户可以让AI参与聊天、调节氛围、执 行任务等。 记者体验看到，用户可以选择创建一个"派"，或者加入一个已有的"派"，加入后，在派内@元宝或引用 元宝的话，可以让元宝AI总结派内聊天、创建健身、阅读等兴趣打卡活动，由元宝AI担任"监督员"。不 止文字聊天，用户还可以在派内进行"图片二创"，将一张普通的照片变成有趣的"梗图"或表情包，在共 同创作中激发乐趣。 据悉，元宝派后续公测还将开放上线"一起看""一起听"玩法，该玩法接入了腾讯会议的音视频底层能 力，让用户可以邀请派内好友同步观看一部电影、一场比赛、听一首歌。 AI有了新玩法。1月26日，腾讯旗下AI助手元宝低调开启全新社交AI玩法"元宝派"内测。 1月25日，腾讯还宣布将在元宝APP内派发10亿现金红包。腾讯已经多年不参与春节"撒币"，本轮用10 亿真金白银砸向元宝，在AI赛道加速的决心可见一斑。 想实现以上功能，用户只需要在应用市场/APP Store将"元宝"APP更新到2.55.0及以上 ...

1月26日下午，腾讯召开2025年度员工大会，腾讯公司董事会主席兼首席执行官马化腾分享了公司在过 去一年的业务总结和战略思考，以及对2026年工作的全新展望。 马化腾在现场表示，在AI战略上，腾讯有自己的考虑和节奏，核心是产品的长期竞争力和用户的体 验，现在正在各个业务板块和平台上仔细思考，持续点亮新的技能。"未来人的时间越来越宝贵，帮用 户节省时间、提高效率是非常重要的，这也是我们产品可以融入AI来帮忙的一个思考点。" 币"10亿元现金，能否再次通过春节这一超级社交场景，实现腾讯AI提速值得关注。马化腾表示，希望 此举能够重现11年前的微信红包的时刻。 谈AI战略，腾讯风格就是稳扎稳打 在现场，马化腾首先回顾过去几年腾讯触底反弹的过程：2021年到2023年疫情期间，行业进入寒冬期， 腾讯提出"聚焦主业、降本增效、减脂增肌"，在随后几年中很快恢复增长，并且在AI的投入上持续加大 力度。 在他看来，ChatGPT和DeepSeek改变了AI发展的进程，但每个企业穿越周期的节奏不一样，过往业务的 长青保证了腾讯在AI上可以长期投入。"每个企业的基因不同、体质不同，腾讯的风格就是稳扎稳 打。"他表示，在AI战略上 ...

Core Viewpoint - Tencent emphasizes a steady and focused approach to its business, particularly in the context of AI development, highlighting the importance of long-term product competitiveness and user experience [5][6]. Group 1: AI Strategy and Product Development - Tencent's new product "Yuanbao" is inspired by past experiences and aims to explore new social interactions through AI, integrating features from existing platforms [5][6]. - The company plans to invest 1 billion yuan in cash red envelopes to attract new users to the Yuanbao app, hoping to replicate the success of WeChat's red envelope feature from 11 years ago [6][8]. - The "Yuanbao" app includes features such as AI interaction, task management, and multimedia activities, aiming to enhance user engagement and experience [10][12]. Group 2: Organizational Changes and Talent Acquisition - Tencent has restructured its AI team, moving the "Yuanbao" team to a more prominent position within the organization to enhance its AI application capabilities [15]. - The company has made significant changes in talent acquisition and organizational structure to strengthen its AI strategy, including the establishment of new departments focused on AI infrastructure and data [15][16]. - The appointment of key personnel, such as Yao Shunyu, signals a strategic focus on large models and AI applications within Tencent [15][16]. Group 3: Market Position and Competitive Strategy - Tencent aims to leverage its extensive user base and data to create a robust feedback mechanism, enhancing product development and user experience [18]. - The company believes that its ability to convert complex technology into user-friendly products will be crucial in the AI era, focusing on practical applications rather than just technical superiority [18]. - Tencent's strategy includes building a top talent pool and flexible organizational structures to adapt quickly to market changes and technological advancements [18].

就在昨日腾讯宣布10亿红包计划之后，百度随即通知称，自1月26日至3月12日，用户在百度APP使用文 心助手，有机会瓜分5亿现金红包，最高可获得1万元奖励。百度APP还将作为首席AI合作伙伴参与 《2026北京广播电视台春节联欢晚会》。 此前据智通财经记者了解，字节豆包已明确冠名春晚，或将带来新玩法与大量推广。 眼下多家大厂均已明确要开启春节AI应用"流量大战"，在社交领域具备优势的腾讯能否借助春节这一重 要时间节点实现AI提速，值得关注。 智通财经1月26日讯（记者 付静） 互联网巨头再度打响流量入口之战。 昨日，腾讯、百度则先后宣布，元宝、文心助手将分别投入10亿、5亿春节现金红包。就在一个月前， 火山引擎宣布成为2026年春节联欢晚会独家AI云合作伙伴。 智通财经记者从腾讯方面最新获悉，今日下午召开的腾讯2025年度员工大会上，腾讯董事会主席兼首席 执行官马化腾表示，希望此番10亿真金白银的动作将"重现11年前的微信红包的时刻。" 据昨日腾讯发布的《关于春节分10亿现金的通知》，元宝针对春节推出了10亿现金红包激励活动，将于 2月1日上线，用户在手机应用市场更新元宝APP至2.55.0版本及以上，即可参 ...

刚刚（1月26日），国家新闻出版署公布了2026年1月份的国产版号、进口版号，以及游戏审批变更信息，公示的审批时间为1月23日。 国产版号方面，今天共有177款游戏过审获得版号。 以申报类别划分：其中"移动"类别175个（含"移动-休闲益智"类别64款）、"客户端"类别2个、"网页"类别和"游戏机"类别本月没有新版号获批。值得一提 的是，共有10款游戏同时拿到了移动和客户端版号，可见多端多平台的趋势愈发明显。 回顾2025年，国家新闻出版署下发国产游戏版号共计1676个、进口游戏版号96个、游戏审批变更信息86条。如果从近一年的每月版号下发数量来看，可见 国产版号的获批数量在阶段性增长，本月的177个是近一年以来的次高。 以下为本批次版号的完整名单： | | | 2026年1月进口网络游戏审批信息 | | | | --- | --- | --- | --- | --- | | 序号 | 名称 | 申报类别 | 出版单位 | 运营单位 | | 1 | 彩虹六号: 攻势 | 客户端 | 华东师范大学电子音 上海纳原信息技术有 | | | | | | 像出版社有限公司 | 限公司 | | 2 | 彩虹岛:爱丽丝之境 ...

Market Overview - The market is currently focused on resilience rather than aggressive movements, with A-shares experiencing ETF sell-offs and the Hang Seng Index showing slight fluctuations, closing up 0.06% [1] - Tensions between the US and Iran are at a peak, with concerns over the Strait of Hormuz affecting oil prices, leading to significant gains for companies like China National Offshore Oil Corporation and China Petroleum [1] - Canadian Prime Minister's visit to China resulted in trade agreements, but US President Trump threatened tariffs on Canadian imports if trade agreements with China were pursued [1] Commodity Prices - International gold and silver prices have surged, with gold reaching a historical high of $5093.18 per ounce and silver surpassing $109 per ounce [2] - High-end gold consumption is increasing, with significant consumer interest noted in SKP stores during the Chinese New Year season [2] - Commodity trading companies like Nanhua Futures have benefited from these price increases, with notable stock price rises [2] Uranium Market - The uranium market is showing strength, with a trust fund planning to issue up to $2 billion in transferable trust shares, indicating a growing demand for uranium [3] - Companies like China General Nuclear Power Corporation have seen stock increases of around 10% due to this positive outlook [3] AI and Technology Sector - Tencent is focusing on AI investments, with plans to enhance its AI platform and engage in competitive activities in the AI application space [4] - Companies like Longi Green Energy and Xunlei have also seen stock increases due to their involvement in AI and data center businesses [3][4] Real Estate Market - Hong Kong real estate stocks are expected to see a price increase of 5% to 10% this year, with reports of a potential spin-off of telecommunications assets by CK Hutchison [5] - The domestic real estate market is showing resilience, with significant increases in second-hand home transactions in major cities [5] Health Sector - The emergence of the Nipah virus in India is expected to increase demand for antiviral medications, benefiting companies like Sihuan Pharmaceutical and CanSino Biologics [6][5] - CanSino is advancing its vaccine development for the Nipah virus, reflecting a proactive approach to emerging health threats [6] Coal Industry - A report indicates that coal supply policies may lead to significant reductions in production capacity, potentially improving coal prices in 2026 [7] - Major coal companies like China Shenhua Energy and Yanzhou Coal Mining are positioned to benefit from these changes in supply dynamics [8] Jewelry Market - Chow Tai Fook has reported strong sales growth, particularly in high-margin gold jewelry, with same-store sales in mainland China increasing by 21.4% [9][10] - The company is optimizing its store network and expanding into Southeast Asia, indicating a strategic approach to growth amid rising gold prices [10]

国产GPU厂商正进入批量上市时刻。 随着摩尔线程、沐曦股份等国产GPU厂商相继登上资本市场后，又有一家国产GPU厂商迈出上市第一步。 日前，上海燧原科技股份有限公司（下称"燧原科技"）的科创板IPO已获得受理，拟融资60亿元。 2025年前三季度，燧原科技的收入、净亏损分别为5.4亿元、8.88亿元。 与其他国产GPU厂商最大的不同在于，燧原科技与互联网巨头腾讯实现了深度的绑定。 腾讯不仅是燧原科技的第一大外部股东，更是2025年前三季度为其贡献了超7成营收的"超级大客户"。 这种"带资进组"的模式，让燧原科技在现金流与落地场景上拥有了令同行艳羡的安全垫，但也使其陷入了"单一依赖"与"低毛利以价换量"的争议 漩涡。 随着此次独立IPO，燧原科技能否在腾讯的温室之外，证明自己独立生存的造血能力，正受到关注。 最大的金主：腾讯 目前可用于AI加速卡及模组是燧原科技主要收入来源，从2022年的0.37亿元一路飙升至2025年前三季度的4.12亿元，期间暴增了超10倍。 客户身份的B面，腾讯还是燧原科技的第一大外部股东。截至此次IPO申报前，腾讯及其一致行动人苏州湃益合计持有燧原科技20.26%的股份。 事实上，腾讯 ...

Core Insights - Tencent's CEO emphasized the importance of maintaining focus and a steady pace in response to AI-related anxieties, highlighting the company's unique characteristics and approach to innovation [1] - The introduction of "Yuanbao Pai," a new AI social feature, aims to enhance user interaction and entertainment within social contexts, integrating various Tencent services [1] - Tencent has made significant organizational changes to attract AI talent and enhance its AI capabilities, including the establishment of new departments and leadership roles [2] Group 1: AI Strategy and Development - Tencent is focusing on integrating large models and AI products, employing a collaborative design approach to enhance product and organizational development [3] - The company has rapidly scaled its AI assistant "Yuanbao," which has become one of the top AI applications in China, with frequent updates and integration across multiple Tencent platforms [2] - Tencent's AI strategy is characterized by a long-term investment approach, ensuring that its existing business strengths support ongoing AI development [3] Group 2: Business Performance and Future Outlook - Tencent's cloud business achieved significant profitability milestones in 2025, reflecting successful integration of AI-related products across various services [4] - The WeChat ecosystem remains a critical focus for Tencent, with ongoing efforts to enhance its features while balancing user needs and privacy concerns [3] - The Interactive Entertainment Group (IEG) has seen growth through innovation and content development, contributing to Tencent's overall business evolution [4][5]