上涨方面，小米集团涨超1%，金山软件小幅上涨。 全球市场上，欧洲主要股指开盘集体下跌。欧洲斯托克50指数跌1.57%，英国富时100指数跌1.04%，法国CAC40指数跌1.29%，德国DAX30指数跌 1.48%，富时意大利MIB指数跌1.48%。 币圈再度跳水，加密货币遭重挫，截至16:58，比特币24小时跌幅超9%，跌破82000美元/枚；以太坊24小时跌幅近11%，BNB 24小时跌幅超8%，Solana 24 小时跌幅超12%。随着近期比特币大幅下跌，加密货币总市值跌破3万亿美元，比特币价格跌破美国比特币ETF的平均购买价格。 SFC 科网、半导体股跌幅靠前，京东健康跌超8%，中芯国际、华虹半导体跌逾6%，腾讯音乐、百度集团等跌超5%，蔚来、阿里巴巴、阿里健康等跌超4%， 网易、比亚迪（002594）电子等跌超3%，哔哩哔哩、京东集团等跌超2%，快手、腾讯控股等跌超1%，美的集团（000333）、联想集团等小幅下跌。 11月21日，港股三大指数大幅收跌，恒生指数跌2.38%，恒生国企指数跌2.45%；恒生科技指数跌3.21%，本周累跌7.18%，录得周线4连跌。市场成交额 2857.02亿港元，较前 ...

Market Performance - The Hong Kong stock market experienced significant declines, with the Hang Seng Index dropping by 2.38%, the Hang Seng China Enterprises Index falling by 2.45%, and the Hang Seng Tech Index decreasing by 3.21%. This week marked a cumulative decline of 7.18%, resulting in four consecutive weeks of losses [1][3]. - The market turnover increased to 285.70 billion HKD, up from 245.14 billion HKD in the previous trading day [1]. Sector Performance - The technology and semiconductor sectors faced the largest declines, with JD Health falling over 8%, SMIC and Hua Hong Semiconductor dropping more than 6%, and Tencent Music and Baidu Group decreasing over 5%. Other notable declines included NIO, Alibaba, and Alibaba Health, which fell over 4%, while NetEase and BYD Electronics dropped over 3% [3]. - In contrast, Xiaomi Group saw an increase of over 1%, and Kingsoft experienced a slight rise [3]. Global Market Trends - Major European stock indices opened lower, with the Euro Stoxx 50 Index down by 1.57%, the UK FTSE 100 Index down by 1.04%, the French CAC 40 Index down by 1.29%, the German DAX 30 Index down by 1.48%, and the Italian FTSE MIB Index down by 1.48% [3]. Cryptocurrency Market - The cryptocurrency market faced a sharp decline, with Bitcoin dropping over 9% to below 82,000 USD per coin, Ethereum falling nearly 11%, BNB decreasing over 8%, and Solana dropping over 12%. The total market capitalization of cryptocurrencies fell below 3 trillion USD, with Bitcoin prices dropping below the average purchase price of the US Bitcoin ETF [3].

据官方介绍，HunyuanVideo 1.5模型具备全面且强大的核心能力，支持中英文输入的文生视频与图生视 频。其图生视频能力展现出图像与视频的高度一致性。模型还具备强指令理解与遵循能力，能够精准地 实现多样化场景，包括运镜、流畅运动、写实人物和人物情绪表情等多种指令；同时支持写实、动画、 积木等多种风格，并可在视频中生成中英文文字。在画质方面，模型可原生生成5–10秒时长的480p和 720p高清视频，并可通过超分模型提升至1080p电影级画质。 11月21日，腾讯混元大模型团队正式发布并开源HunyuanVideo 1.5，一款基于 Diffusion Transformer （DiT）架构、参数为8.3B的轻量级视频生成模型，支持生成5-10秒的高清视频。 目前，腾讯元宝最新版已上线该模型能力。用户可通过两种方式即可体验：一是输入文字描述 （Prompt），直接实现"文生视频"；二是上传图片配合Prompt，轻松将静态图片转化为动态视频。 相关使用示意 腾讯官方 | | | T2V 任务GSB对比 | | | --- | --- | --- | --- | | 对比模型 | HunyuanVideo 更 ...

相关使用示意 腾讯官方 据官方介绍，HunyuanVideo 1.5模型具备全面且强大的核心能力，支持中英文输入的文生视频与图生视频。 其图生视频能力展现出图像与视频的高度一致性。模型还具备强指令理解与遵循能力，能够精准地实现多样 化场景，包括运镜、流畅运动、写实人物和人物情绪表情等多种指令；同时支持写实、动画、积木等多种风 格，并可在视频中生成中英文文字。在画质方面，模型可原生生成5–10秒时长的480p和720p高清视频，并可 通过超分模型提升至1080p电影级画质。 11月21日，腾讯混元大模型团队正式发布并开源HunyuanVideo 1.5，一款基于 Diffusion Transformer（DiT）架 构、参数为8.3B的轻量级视频生成模型，支持生成5-10秒的高清视频。 目前，腾讯元宝最新版已上线该模型能力。用户可通过两种方式即可体验：一是输入文字描述（Prompt）， 直接实现"文生视频"；二是上传图片配合Prompt，轻松将静态图片转化为动态视频。 HunyuanVideo 1.5 GSB（Good Same Bad) 评测结果 | | T2V 任务GSB对比 | | | | --- | ...

盘面上，大型科技股普遍走低，阿里巴巴跌4.65%，腾讯跌1.77%。AI概念相关股今日悉数下挫，中 芯、华虹均跌超6%；广期所对碳酸锂限仓，碳酸锂期货今日跌停，"锂矿双雄"均跌超一成；澳门预期 明年博彩收入2360亿澳门元，博彩股集体承压；加密货币市场抛售潮持续，相关概念股下行；医药、有 色、光伏等纷纷飘绿。另一边，个别内房股逆市上升，富力地产涨5%。 1. 科技股全天承压。截至收盘，中芯国际(00981)跌6.39%，报68.8港元；华虹半导体(01347)跌6.09%， 报73.25港元；阿里巴巴-W(09988)跌4.65%，报147.6港元；腾讯(00700)跌1.77%，报610港元。 智通财经APP获悉，隔夜美股市场上演过山车行情，港股今日随外围向下，恒指及国指跌超2%，恒科 指数则大跌超3%。截止收盘，恒生指数跌2.38%或615.55点，报25220.02点，全日成交额为2857.02亿港 元；恒生国企指数跌2.45%，报8919.78点；恒生科技指数跌3.21%，报5395.49点。全周来看，恒指累跌 5.09%，国指累跌5.09%，恒科指数累跌7.18%。 国证国际指出，当前市场正处于关键 ...

微信始终致力于营造安全、绿色的网络环境，对各类违法违规行为保持严厉打击。近期，微信收到用户投诉，部分微信账号在微信群内存在组织传销、诈骗 等违法犯罪的行为。此类行为通过 假借 民族资产解冻、国家政策和工程项目，以及区块链虚拟币、稳定币等为名头，以高额回报为诱饵，诱导用户加入微信 群，并在群内鼓励用户拉人进群、发布不明链接引导下载涉诈App、开展每日签到、会议课程等洗脑活动并最终实施诈骗。上述行为严重侵害用户的财产权 益。 上述行为一经发现核实，平台将依据国家相关法律法规以及《腾讯微信软件许可及服务协议》《微信个人账号使用规范》等平台协议及规则，视违规严重程 度对相关账号进行阶梯式处理，多次违规者有可能永久限制登录，对确认违规的微信群，进行停用群功能处理。 不法分子通过仿冒官方图标与名称，利用用户对权威平台的信任进行视觉欺骗，降低用户防备心理，诱导用户下载涉诈App，请广大用户注意甄别。 近日，"微信安全中心"微信公众号发布《针对组织传销、诈骗等违法犯罪行为的打击公告》，全文如下： 传销的核心是通过"拉人头"而非销售真实商品或服务来敛财，本质是拆东墙补西墙的庞氏骗局。 部分涉诈App示例 ▼ | APP名称 | ...

截图。 新京报贝壳财经讯（记者罗亦丹）11月21日，元宝官宣推出"一句话生视频"能力，该能力底层技术基于腾讯混元最新开源的 HunyuanVideo 1.5 模型。 贝壳财经记者测试发现，将元宝更新至最新版后输入"大熊猫在长城上吃竹子动画"的提示词后，元宝在约3分钟的时间里生成了一个以梦工厂"熊猫阿 宝"为蓝本的符合提示词要求的视频，长度约6秒。 腾讯方面表示，该功能背后的混元开源HunyuanVideo 1.5，支持中英文的文生视频与图生视频，能实现图像与视频在色调、细节上的高度一致性，并精准 遵循运镜、流畅运动等多样化指令。模型以仅8.3B的轻量尺寸实现开源最强的效果，可在14G显存的消费级显卡上流畅运行。 该功能的上线，标志着元宝正式实现了从文本、图片、音频到视频的"图文音视"全模态覆盖。 校对 柳宝庆 ...

Core Insights - The "Tengyi聚视焕新共行" 2025 Video Account Automotive Ecosystem Conference was successfully held in Guangzhou, focusing on the evolution of automotive content within the video account ecosystem and exploring new business models and collaborative opportunities [1][4] Group 1: Industry Trends - The Chinese automotive market, particularly in the new energy sector, remains vibrant, with significant opportunities for media to introduce new products and technologies [4] - Video accounts have become a crucial platform for automotive content, with substantial growth in creator ecosystems, revenue scales, and the number of monetized creators and advertising partners [5] Group 2: Company Initiatives - Tengyi Technology plans to empower creators through continuous traffic support and collaboration with agencies like Chuangyi Media, aiming to enhance the video account ecosystem [4][5] - The company has successfully helped 60% of nearly 100 original creators achieve commercial breakthroughs, with plans to invest over 100 million in supporting creators in 2026 [5] Group 3: Event Highlights - The conference featured a unique talk show segment where a former automotive media professional humorously discussed the video account ecosystem, emphasizing the importance of content and creator support [6] - A roundtable forum addressed key topics such as trust-building in video accounts, balancing content depth and breadth, and reconstructing commercialization paths [7] Group 4: Awards and Recognition - Four major awards were presented to recognize outstanding brands and creators in the Tengyi automotive ecosystem, including the "2025 Tengyi Automotive Ecosystem Star Selection Star" and "2025 Tengyi Automotive Ecosystem Annual Star" [8][9][10] - The awards aimed to honor creators who excelled in commercial monetization and content quality, as well as those who effectively enhanced brand communication [9][10] Group 5: Future Outlook - The automotive content ecosystem is entering a new phase driven by "trust" and "content + social," with Tengyi Technology committed to deepening collaboration with Tencent to create a sustainable content ecosystem [10]

Market Overview - The A-share market experienced weak fluctuations with the three major indices closing lower, where the Shanghai Composite Index fell by 2.45%, the Shenzhen Component Index by 3.41%, and the ChiNext Index by 4.02% [1][2] - The total market turnover reached 198.36 billion yuan, an increase of 26.1 billion yuan compared to the previous trading day [1] Sector Performance - The China Shipbuilding sector saw a notable increase of over 3%, while sectors such as energy metals, batteries, and silicon energy underwent adjustments [2] - New stock Dapeng Industrial surged over 1200%, and leading stocks in the coated sand industry, such as Changjiang Materials, hit the daily limit [2][4] - The energy metals sector faced significant declines, with leading stocks like Ganfeng Lithium, Shengxin Lithium Energy, and Tianqi Lithium hitting the daily limit down [2] AI and Technology Sector Insights - Concerns regarding the ability of AI investments to achieve substantial capital returns through a commercial loop are central to market anxieties about the technology sector [3] - The technology sector is currently experiencing a divergence of opinions, with some analysts viewing AI valuations as high and capital expenditure pressures significant, while others remain optimistic about long-term applications [2][3] Specific Company Developments - Changjiang Materials, a leader in the coated sand industry, reported a total market value of 3.816 billion yuan and plans to expand its 3D printing sand products [6][4] - Pingao Co., Ltd. announced a planned investment of 400 million yuan in Jiangyuan Technology, acquiring a 14.2151% stake, which is expected to increase to 15.4182% post-investment [8] Price Trends in Energy Metals - The energy metals sector saw a significant drop of 9.11%, with lithium carbonate and lithium hydroxide prices expected to decline by 25.17% and 21.47% respectively in the first three quarters of 2025 compared to 2024 [9] - Analysts predict a potential rebound in energy metal prices in the third quarter of 2025, supported by macroeconomic easing expectations [9][10]

Group 1 - The report highlights the ongoing transformation in the artificial intelligence (AI) industry, with significant advancements in AI models and increasing capital expenditures from cloud service providers, driving demand for AI computing hardware infrastructure [8][20][39] - The semiconductor industry is expected to continue its upward trend, with AI driving a potential super cycle in the memory sector, as domestic manufacturers enhance their competitive advantages in technology and supply chains [11][18][19] - The electronic industry has significantly outperformed the CSI 300 index, with a year-to-date increase of 38.35% compared to the CSI 300's 16.85% [18][19] Group 2 - Major cloud companies are increasing their capital expenditures, with North American cloud providers collectively spending $96.4 billion in Q3 2025, a 67% year-on-year increase, to support AI infrastructure [39][40] - The report emphasizes the rapid growth of AI server demand, with the global AI server market projected to reach $158.7 billion in 2025, reflecting a compound annual growth rate of 15.5% from 2024 to 2028 [51][53] - The report identifies key investment opportunities in sectors such as AI computing chips, AI PCBs, and memory modules, recommending specific companies for investment based on their market positions and growth potential [11][12][52]