Core Viewpoint - The collaboration between Tencent and Dunhuang Research Academy aims to leverage AI technology for the preservation and restoration of the Dunhuang Mogao Caves' murals, addressing the increasing damage caused by environmental factors and human activities [1][5][6]. Group 1: Collaboration and Technology - Tencent and Dunhuang Research Academy signed a three-year strategic cooperation agreement to form a joint working group that will introduce AI damage recognition technology and immersive remote consultation technology for mural preservation [1][6]. - The partnership will enhance cultural exchanges with overseas institutions and promote the digital presentation and dissemination of the Dunhuang artifacts [1][6][8]. Group 2: Current Challenges - The Mogao Caves contain over 735 caves and 45,000 square meters of murals, with more than half of the murals affected by "sulfur disease," a condition that causes paint to flake and murals to deteriorate [5][6]. - The increasing number of tourists and changing climate conditions have exacerbated the damage to the murals, making preservation efforts more urgent [5][6]. Group 3: Digital Preservation Efforts - The "Digital Dunhuang" project aims to achieve permanent preservation and sustainable use of the Dunhuang cave art through digital technology, which has been in development for over 30 years [6][8]. - The digitalization process is labor-intensive, with current efforts having only digitized around 200 out of 700 caves, but advancements in technology are expected to accelerate this process [7][8]. Group 4: Future Plans - The collaboration will also focus on digitizing artifacts from the Dunhuang caves that have been lost to foreign countries, allowing researchers and enthusiasts to access these items digitally [8]. - Future exhibitions and dialogues with museums along the Silk Road will expand the reach of Dunhuang's cultural heritage [8].

Core Insights - The Morketing Summit 2025 will focus on the new ecosystem of marketing in China, discussing trends and transformations from 2025 to 2026 [2][3] - Key topics include brand building, channel innovation, AI-driven marketing growth, and podcast marketing, with participation from nearly 40 companies [2] Group 1: Marketing Trends - The discussions at the summit will shift from traditional advertising techniques to the broader changes in the marketing ecosystem, including consumer behavior and technological advancements [2] - Five major trends have been identified that will influence brand strategies and marketing decisions in 2025-2026 [2] Group 2: Emotional Economy - The concept of the emotional economy emphasizes that consumers are increasingly motivated by emotional connections rather than just product functionality [42][43] - Brands like McDonald's leverage emotional assets that resonate across generations, highlighting the importance of creating a sense of belonging and happiness for consumers [43] Group 3: Human-Centric Marketing - Human-centric marketing focuses on understanding users as individuals with emotions and motivations, rather than just data points [44] - This approach is driven by the decline in effectiveness of traditional marketing methods, necessitating brands to create content that resonates personally with consumers [44] Group 4: Content as Core Asset - In the fragmented media landscape, engaging content is essential for capturing consumer attention and driving brand loyalty [45] - Brands should develop a content strategy that includes basic product information, professional educational content, and value-driven narratives to connect with consumers [45][46] Group 5: All-Scene Marketing - The concept of "all-scene" marketing recognizes that consumer interactions occur across multiple touchpoints, necessitating a cohesive brand presence in various contexts [47][48] - Brands must ensure consistent experiences across different platforms and touchpoints to enhance consumer engagement and loyalty [49] Group 6: AI in Marketing - AI is a significant focus, with its potential to enhance marketing decision-making, content generation, and consumer engagement [50] - The summit will explore how AI can transform marketing strategies, improve efficiency, and create personalized consumer experiences [50][51]

Group 1 - The core viewpoint highlights the increased profitability at Tencent and its e-commerce operations, which significantly contributed to the overall financial results [1] - A notable factor in the financial performance was a $3.3 billion gain from reducing its stake in Tencent, indicating strategic financial management [1]

Group 1 - The gaming media sector is experiencing a significant rise, with the gaming ETF (159869) increasing by over 3.5% and all holdings showing positive performance, including Mingchen Health, Xunyou Technology, Shenzhou Taiyue, Ice River Network, Borui Communication, Shengtian Network, and Guomai Culture [1] - Tencent's Q3 2025 earnings report reveals that the total revenue from its online gaming business reached 63.6 billion yuan, with domestic game revenue at 42.8 billion yuan, a year-on-year increase of 15%, and international game revenue at 20.8 billion yuan, a year-on-year increase of 43% [1] - NetEase's Q3 2025 financial report shows a net income of 28.4 billion yuan, an increase of 8.2% year-on-year, with its gaming and related value-added services generating net income of 23.3 billion yuan, a year-on-year increase of 11.8%, accounting for 82% of total revenue, highlighting the strong performance of its gaming business [1] Group 2 - CITIC Securities indicates that the gaming industry in Q3 2025 continues to show high growth momentum, driven by leading companies, with both industry revenue and profits maintaining high growth [1] - The regular issuance of game licenses on a monthly basis is expected to sustain the supply of quality content in the gaming industry [1] - Future prospects include refined operations for already released games, which are likely to extend the revenue contributions from these games, and the rich pipeline of leading industry products is expected to provide high certainty for future earnings growth [1]

Core Insights - Recent reports suggest that拓竹科技 is nearing the completion of a new financing round with Tencent participating, potentially valuing the company at $10 billion [1] -拓竹科技 has denied the accuracy of the financing report [1] Company Overview -拓竹科技 was established in 2020 and is headquartered in Shenzhen, China, with R&D centers in Shenzhen and Shanghai [1] - The company's first product, the X1 series high-speed intelligent 3D printer, aims for top performance in the industry, achieving significant advancements in key performance metrics [1] Product and Technology Development - The X1 series printer incorporates multi-color printing and supports high-performance engineering plastics, bringing industrial-grade printing technology to consumer-level products [1] -拓竹科技's MakerWorld platform has integrated Tencent's混元 3D generation model, allowing entry-level users to quickly generate high-quality, printable 3D models through simple text and image inputs [2] - This integration significantly simplifies the modeling process, reduces design cycles, and enhances customization response speed [2] Partnership and Future Projections - In July 2023,拓竹科技 entered into a comprehensive partnership with Tencent Cloud, with MakerWorld fully integrating the混元 3D generation model [3] - Following this integration, the expected monthly usage is projected to exceed 100,000 calls [3]

Group 1 - The COP30 conference in Brazil resulted in the "Belém Package," which revitalizes global climate governance and highlights the active participation of the younger generation in climate issues [1] - Young representatives actively engaged in the conference through various forms, showcasing their commitment to climate action [1] - Chinese companies are innovating ways to engage with the younger generation, transforming climate governance goals into tangible daily practices through gamification and carbon-inclusive mechanisms [1] Group 2 - Tencent showcased how digital technology, particularly gaming, can empower climate change response and environmental protection at COP30 [2] - The overseas version of "Honor of Kings" purchased and redeemed 28,000 tons of carbon credits from four major ecological protection areas globally [2] - Other Chinese gaming companies are also developing systematic educational programs, such as the SDG Hero project, which helps youth learn about the United Nations Sustainable Development Goals through gamified tools [2][3] Group 3 - The gamification approach effectively reduces communication barriers and engages youth in climate education [3] - Over 98% of youth participants expressed willingness to engage in gamified educational activities again, indicating a positive impact on their behavior and self-esteem [3] - Despite challenges in cross-cultural communication, Chinese companies are making significant strides in climate education through gaming [3] Group 4 - Chinese companies are demonstrating innovative practices to encourage public participation in climate action, as seen in the release of the "2025 Carbon Inclusive Development White Paper" during COP30 [4] - The white paper outlines various global carbon inclusive models, highlighting the unique characteristics of different regions [5] - Public awareness of carbon inclusivity in China exceeds 92%, with 90% of respondents indicating green travel as a common practice [5] Group 5 - The carbon inclusive model has been successfully implemented by companies like Neng Chain Smart Electric, which has covered over 1.2 million users and achieved a cumulative carbon reduction of over 3 million tons [5] - The first successful transaction of personal carbon inclusive value occurred at the Hubei carbon emission trading center, involving 1,962 tons of carbon reduction valued at approximately 60,000 yuan [5] - The "Carbon Inclusive+" trend is emerging, integrating carbon inclusivity with biodiversity protection and other sectors [5][6]

11月24日，A股市场早盘高开回落，三大指数集体翻绿，截至午盘，沪指跌0.34%，深成指跌0.59%，创业板 指跌0.77%。沪深两市半日成交额1.03万亿，较上个交易日缩量3817亿。全市场超3200只个股上涨。 内地股票 | 行情 资金净流入 | | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 北证50 | | 3821.68 12463.79 | | 1375.73 | | -13.21 -0.34% -74.28 -0.59% -1.66 -0.12% | | | | 科创50 | 创业板指 | 万得全A | | 1280.64 | 2897.68 | 6017.14 | | -5.19 -0.40% -22.40 -0.77% -13.42 -0.22% | | | | 沪深300 | 中证500 | 中证A500 | | 4427.55 | 6804.37 | 5300.70 | | -26.06 -0.59% -13.04 -0.19% -25.29 -0.47% | | | | 中证1000 | 深证100 | 中证红利 | | 7071.44 | 5 ...

（文章来源：21世纪经济报道） 有媒体报道称，拓竹接近完成最新一轮融资，腾讯参投，公司估值或达100亿美元。拓竹科技回应表 示，该消息不属实。 ...

Core Viewpoint - The Hong Kong stock market is experiencing a strong performance, particularly among major internet companies, with significant gains observed in stocks like NetEase, Alibaba, and Kuaishou, driven by positive sentiment in the technology sector [1] Group 1: Market Performance - As of 10:50 AM, stocks such as NetEase-S, Alibaba-W, and Kuaishou-W have risen over 5%, while Tencent Holdings and Meituan-W have increased by more than 2% [1] - The Hang Seng Technology Index has risen by 2.2%, and the CSI Hong Kong Stock Connect Internet Index has increased by 2.4% [1] - The Hang Seng Technology ETF (513010) saw a net inflow of over 1.5 billion yuan last week, indicating strong investor interest [1] Group 2: Industry Outlook - Huatai Securities highlights that Hong Kong-listed companies in the AI narrative are primarily focused on domestic computing power, models, and applications, with future prospects linked to China's technological development [1] - The "14th Five-Year Plan" supports the theme of technological self-sufficiency, which is expected to be a medium to long-term focus [1] - Despite recent pullbacks in the Hong Kong technology sector, there remains potential for revaluation once liquidity conditions improve [1] Group 3: Valuation Metrics - The rolling price-to-earnings ratios for both the Hang Seng Technology Index and the CSI Hong Kong Stock Connect Internet Index are below 22 times, positioned at the 15% and 8% percentiles since the indices were launched [1] - Investors looking to capitalize on the Hong Kong technology sector can consider products like the Hang Seng Technology ETF (513010) and the Hong Kong Stock Connect Internet ETF (513040) for convenient exposure [1]

每经AI快讯，11月24日，港股科网股走强，网易(09999.HK)、快手(01024.HK)涨超5%，阿里巴巴 (09988.HK)涨4.5%，百度(09888.HK)、美团(03690.HK)涨3%，京东(09618.HK)涨2.3%，腾讯控股 (00700.HK)涨近2%。 ...