智通财经APP获悉，周二，美股三大指数集体收跌。恒生指数ADR下跌，按比例计算，收报26246.02点，较香港收市跌241.49点或0.91%。 | 序号 | 名称 | 港股代码 | 最新价 | 涨跌额 | 涨跌幅 | ADR代码 | ADR换算价 | 较港股升跌 | 较港股升跌% ADR | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 腾讯控股 | 0 00700 | 601.000 | -9.000 | -1.48% | TCEHY | 593.183 | -7.817 | -1.30% | 7 | | 2 | 阿里巴巴-W | 09988 | 159.700 | -0.700 | -0.44% | BABA | 158.308 | -1.392 | -0.87% | 16 | | 3 | 汇丰控股 | 00005 | 128.400 | +1.400 | 1.10% | HSBC | 128.682 | +0.282 | 0.22% | 00 | | 4 | 建设银行 | 00939 | 7.76 ...

（原标题：南向资金今日净买入36.63亿港元，腾讯控股净买入6.63亿港元） 1月20日恒生指数下跌0.29%，南向资金全天合计成交金额为972.83亿港元，其中，买入成交504.73亿港元，卖出成交468.10亿港元，合计净买入金 额36.63亿港元。具体来看，港股通（深）累计成交金额378.04亿港元，买入成交190.11亿港元，卖出成交187.93亿港元，合计净买入金额2.18亿港 元；港股通（沪）累计成交金额594.79亿港元，买入成交314.62亿港元，卖出成交280.18亿港元，合计净买入金额34.44亿港元。 成交活跃股方面，今日上榜个股中，南向资金成交金额最多的是腾讯控股，合计成交额63.88亿港元，阿里巴巴-W、小米集团-W成交额紧随其 后，分别成交48.94亿港元、46.53亿港元。以净买卖金额统计，净买入的个股共有8只，腾讯控股净买入额为6.63亿港元，净买入金额居首，该股 收盘股价下跌1.48%，美团-W净买入额为5.73亿港元，小米集团-W净买入额为3.95亿港元。净卖出金额最多的是中芯国际，净卖出7.18亿港元，该 股收盘股价下跌3.25%，中国移动、洛阳钼业遭净卖出6.37亿港元 ...

1月20日恒生指数下跌0.29%，报收26487.51点，全天南向资金通过港股通渠道合计净买入36.63亿港 元。 1月20日港股通成交活跃股 | 代码 | 简称 | 类型 | 成交金额（万港元） | 成交净买入（万港元） | 日涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 00700 | 腾讯控股 | 港股通(沪) | 372636.11 | 50283.11 | -1.48 | | 01810 | 小米集团-W | 港股通(沪) | 305092.22 | 28704.76 | -2.74 | | 00700 | 腾讯控股 | 港股通(深) | 266152.00 | 16044.49 | -1.48 | | 09988 | 阿里巴巴-W | 港股通(深) | 250216.00 | 7256.84 | -0.44 | | 09988 | 阿里巴巴-W | 港股通(沪) | 239145.52 | -577.80 | -0.44 | | 09992 | 泡泡玛特 | 港股通(沪) | 217762.65 | 27913.05 | 9.07 | | 009 ...

Investment Rating - The report maintains a "Positive" investment rating for the gaming sector [7]. Core Insights - The gaming industry continues to show strong performance with multiple new game launches and the integration of AI applications, which are expected to enhance valuations in the sector [2][4]. - The report highlights the sustained growth in the mini-game market, with over 1 billion registered users on WeChat mini-games and a monthly active user (MAU) count exceeding 500 million [9]. - The report emphasizes the potential of AI in gaming, citing the successful implementation of AI-driven features in games like Giant Network's "Supernatural Action Group," which has seen over 25 million AI-participated matches [9]. Summary by Sections Market Performance - The mini-game market is experiencing good growth, with nearly 70 games achieving over 1 million daily active users (DAU) and over 300 games generating quarterly revenues exceeding 10 million [9]. - User engagement is increasing, with a projected 10% growth in DAU for WeChat mini-games in 2025, and a 27% year-on-year increase in users active for more than ten days a month [9]. New Game Launches - The report notes that the new game cycle continues into January, with several new titles and long-term products performing well, including "Supernatural Action Group" and "RO: Journey of the World" [9]. - Upcoming game releases are expected to further catalyze the market, with titles like "Tomorrow's Ark: End of the World" and "Douluo Dalu: Zero" set to launch soon [9]. Investment Recommendations - Given the ongoing new game launches and the strong performance of the gaming sector, the report suggests continued attention to investment opportunities in the gaming industry, recommending companies such as Giant Network, Perfect World, and Tencent Holdings [2][9].

根据OpenAI官方博客的说法，广告对象是免费用户和Go订阅用户——Go是新推出的订阅套餐，每月8美元，而Plus、Pro、Business和 Enterprise用户不会看到广告。 还有一位副总裁，2024年5月加入的Shivakumar，他的上份工作是在谷歌的搜索广告部门做老大。 你细品这些人的履历。 显然，这些人的加入可不是来搞AGI研究的，他们唯一的目标就是——搞钱。 而广告是来钱最快最直接的方式。 我在去年4月份就专门写过一篇文章讲《为什么广告是AI大模型公司最现实的商业模式？》。 现在正在被一一验证，赶着热乎劲，结合我之前的观点，说一下我的5点思考—— 思考一：广告在公司发Code Red一个月后推出，说明OpenAI产品和商业化正在打架。 去年12月初，由于Gemini 3 Pro的冲击，Sam Altman内部发了个红色警报（Code Red），说要全公司集中精力改进ChatGPT，其他项目包 括广告都先放一放。 最终的结果是，广告只推迟了一个多月就上线了，这只能说明变现的压力太大，大到一定要尽快吃上广告这碗饭。 去年8月，OpenAI挖来了Fidji Simo担任应用业务CEO，她之前是Me ...

作者｜昆仑万维创始人、昆仑天工董事长兼 CEO、知名投资人 周亚辉 首先要声明，我在过去十二个月没有跟字节、阿里、美团、腾讯做过交流，不存在摆弄消息之嫌，以下我的分析都是基于我多年经营企业形成的 战略洞察和推理能力。我首先要回答我在一年前给大家和自己提出来的一个问题，谁是十年后的中国首富，通过这一年的观察和思考，我可以明 确地回答自己，张一鸣同学将从现在到未来十年后甚至二十年后都是中国和亚洲的首富。 为什么这么认为，因为一鸣同学内心重新燃起了很强的欲望（或者说动力），这叠加他强大的学习能力、执行力和字节的资金、资源和用户，这 一轮的增长将非常巨大。前段时间的豆包手机已经轰动了业界，不光光是手机领域、机器人领域，自媒体车fans已经有报道，字节将与赛力斯合 作，进入汽车制造领域，这明显是剑指无人驾驶运营商位置；不仅仅是入地，字节还会上天，有自媒体小道消息，字节内部已经开始在研究搭建 太空算力。 随着TikTok问题的解决，字节的国际化扩展也会加快，尤其是豆包将加快出海速度。单从这些信息，是不足以很强的Conviction认定张一鸣同学是 十年后的首富的。最关键的一点是，未来中国AI时代的Super App（Ap ...

Core Insights - OpenAI has initiated advertising testing within ChatGPT, marking a shift from its previous stance against ads, potentially opening new monetization avenues for AI applications [2][3] - The concept of GEO (Generative Engine Optimization) is emerging as a significant focus, likened to SEO in the internet era, and is expected to revolutionize advertising and marketing in the AI age [2][7] Advertising Strategy - ChatGPT's advertising will not disrupt the content of responses but will be presented at the bottom of the conversation, clearly labeled, and only triggered when deemed highly relevant to user needs [3][5] - The initial rollout of ads is limited to the U.S. market, targeting free users and new Go subscription users, while higher-tier subscribers will not see ads [5] Market Dynamics - ChatGPT's user base is nearing 900 million, with over 90% being free users, prompting OpenAI to monetize this audience to offset high operational costs [5][6] - The market reaction to OpenAI's advertising strategy is mixed, with some viewing it as a necessary step for valuation support, while others criticize it as a sign of desperation [5][6] GEO Concept and Market Trends - GEO is gaining traction as a new marketing opportunity, with a notable shift in focus from traditional search platforms to AI platforms, particularly in the context of user engagement through Q&A [7][8] - The GEO market is still in its infancy, with many companies lacking clarity on its implementation and effectiveness, leading to a low percentage of AI-driven traffic compared to traditional methods [10][11] Future Projections - The global GEO market was estimated at approximately $11.2 billion last year, while the domestic market was only about 2.9 billion yuan, indicating significant growth potential [11] - Predictions suggest that by 2030, the global GEO market could reach $100 billion, with the domestic market projected to hit 24 billion yuan, although it will take time for GEO to surpass the SEO market [18]

1月20日，武汉文网亿联科技有限公司发布声明称，公司关注到网络平台上流传一则针对公司"文网卫 士"产品的不实信息，该信息出处不明，其所述"腾讯游戏服务端与'文网卫士'管理软件存在兼容性冲突 导致服务异常"的内容，无任何事实依据，纯属恶意编造。经公司技术团队全面排查验证，并向腾讯游 戏项目组确认，"文网卫士"产品不存在与腾讯游戏服务端兼容异常的情况。针对此次造谣行为，公司已 向属地公安机关报案，并严厉追究编造、传播该不实信息的相关主体的全部法律责任。 ...

近日，知名软件项目托管平台GitHub上，微信清理工具项目"WeChat Clean"在自述中表示项目已经"被 干掉"，引发关注。 据项目作者ellermister所说，"WeChat Clean"原本是个帮助用户分析微信存储空间并清理的小工具。但由 于在2026年1月，腾讯公司的法务团队动用了跨国律师团队，"通过DMCA向GitHub发起正式投诉"，因 此他被迫删除了平台上的相关代码。 他还介绍称，"WeChat Clean"原本的功能主要在于查看微信使用存储空间的用途、分析微信的缓存文 件、帮助用户理解微信如何"优化"存储空间，以及为什么微信自带的存储空间清理"不干净"，帮助用户 快速清理不必要的群消息和存储空间数据，保留历史有需要的联系人数据，并最终有效减小手机微信存 储空间。 关于制作该工具并公开发布的初衷，作者表示是自己的手机空间不够用，光微信就占了17GB，这让他 想搞清楚这些空间都被什么占了，并根据自己的需要写出一个简单的工具，清理不必要的缓存和群数 据，再顺便分享给有同样困扰的朋友们，"仅此而已"。 作者还反映称，腾讯方面的这次投诉一口气举报了30多个类似项目。鉴于GitHub官方让该项目作者 ...

Core Insights - WeChat's official account announced that by 2025, global cross-border and overseas users will exceed 5 billion uses of mini-programs [1][3] - WeChat mini-program services have expanded to cover 100 countries and regions globally, with cross-border payments available in 78 countries and supporting 36 currencies [1][3] - The transaction amount completed through mini-programs in the second half of 2025 is expected to grow by over 70% year-on-year [1][3] User Growth and Demographics - Chinese outbound users' transaction amounts via mini-programs have increased by 60% year-on-year, with significant potential seen in the 35-55 age group [1][3] - Monthly transaction counts for transportation mini-programs have surged by over 140%, while restaurant services have seen a growth of over 50% [1][3] - Mini-program services now span across 108 different industry segments [1][3] Regional Performance - Rapid growth has been observed in regions such as Malaysia, Singapore, Italy, and France, with Malaysia's monthly transaction counts increasing by over 90% and Singapore by 80% [1][3] - Italy has experienced an explosive growth in monthly transaction amounts, achieving over 300% increase [1][3] Local User Engagement - Local users overseas have shown a 70% year-on-year increase in transaction amounts, while inbound users have seen a 50% increase [1][3] Payment Features - WeChat has introduced features allowing overseas users to make payments directly within mini-programs using international credit cards like Visa and Mastercard, as well as local e-wallets such as PayNow and Bank of China Macau [1][3] New Marketing Initiatives - WeChat Pay has launched a "Social Rebates" feature, which helps merchants convert each transaction into new traffic growth points, significantly enhancing new customer acquisition efficiency [2][4]