Core Viewpoint - The article emphasizes that artificial intelligence (AI) is transforming the global economy and presents a significant investment opportunity for investors through various fund options, particularly ETFs and public/private funds [1]. ETF Investment - ETFs are highlighted as an efficient tool for investors who prefer to follow industry trends without the hassle of selecting fund managers. The main focus of AI investment in A-shares is on "computing power infrastructure" and "application end" [2]. - Core broad-based ETFs include the AI ETF (515980) and AI ETF (515070), which track the China Securities Artificial Intelligence Index. These ETFs cover leading companies across the AI value chain, including chip manufacturers (e.g., Cambricon, Haiguang Information), large models and algorithms (e.g., iFlytek), and application scenarios (e.g., Hikvision, Kingsoft) [3][4]. - Segment-specific ETFs such as Cloud Computing 50 ETF (516630) and Communication ETF (515880) focus on computing power hardware and high-speed network facilities that support AI data transmission, respectively. The rationale is that hardware providers often see early performance returns in the AI development phase [5][6][7][8]. Public Funds (Active Equity) - Public funds rely on professional stock selection to seek alpha. The A-share market experiences rapid style rotation, and skilled fund managers can rotate investments within the AI value chain based on fundamental research [9][10]. - Focus on veteran managers in the "digital economy" and "TMT" sectors, particularly those with a track record during the mobile internet wave from 2013-2015. These managers tend to select companies with real performance rather than mere narratives [11][12]. - Quantitative public funds, such as those tracking the CSI 500 or CSI 1000 indices, excel in the active mid- and small-cap companies within the AI sector, often outperforming benchmark indices [13]. Private Funds - Private funds are characterized by greater flexibility in position management and the use of derivatives for risk hedging. They can effectively manage volatility in the AI sector by controlling drawdowns during declines and capitalizing on gains during upswings [14][15]. - Notable institutions include Huanfang Quantitative, Jiukun Investment, and Yifan Investment, which leverage deep learning to uncover market patterns and opportunities that active management may overlook [16]. - The article also highlights the importance of investing in global AI leaders through local private funds, as the U.S. maintains a dominant position in high-end computing and foundational models [18]. Recommended Fund Analysis - The Keywise Penguin No. 1 fund is recommended for its strong reputation and global investment scope, covering major tech markets and key AI players like Nvidia, Microsoft, and TSMC. The fund's strategy includes both long and short positions to protect net value during market fluctuations [19][20][21]. Investment Strategy Summary - The article concludes with a tailored investment strategy for different investor types, recommending ETFs for conservative investors, public funds for those seeking alpha, and the Keywise Penguin No. 1 for high-net-worth individuals looking for global exposure to AI assets [22].

智通财经APP获悉，11月26日,阿里巴巴-W（09988）、泡泡玛特（09992）、招商银行（03968）南向资 金净流入金额位列市场前三，分别净流入15.22 亿、3.85 亿、3.30 亿 盈富基金（02800）、腾讯控股（00700）、恒生中国企业（02828）南向资金净流出金额位列市场前 三，分别净流出-22.61 亿、-11.82 亿、-8.33 亿 在净流入比方面，中国外运（00598）、南方东西精选（03441）、中远海运港口（01199）以73.90%、 64.44%、60.69%位列市场前三。 | 股票名称 | 净流入(元)↓ | 净流入比 | 收盘价 | | --- | --- | --- | --- | | 阿里巴巴-W(09988) | 15.22 亿 | 8.82% | 154.800（-1.90%） | | 泡泡玛特(09992) | 3.85 亿 | 19.66% | 204.600（+2.20%） | | 招商银行(03968) | 3.30 亿 | 32.52% | 52.400（-0.57%） | | 石药集团(01093) | 2.41 亿 | 20.20% | 7.9 ...

Core Insights - The article highlights the expansion of various Chinese companies into international markets, showcasing their growth and strategic initiatives in different regions [5][6][7][9][10]. Group 1: Didi's International Expansion - Didi's international business has expanded to 14 countries and regions across Latin America, Asia-Pacific, and Africa, with a year-on-year order volume growth of 13.8% in Q3 2025, reaching 4.685 billion orders [5]. - The international segment continues to grow at over 20%, driven by investments in key markets like Brazil and Mexico [5]. Group 2: Logistics and E-commerce Developments - Cainiao has launched a cross-border small package service covering eight African countries, with plans to expand to South Africa and Egypt by the end of December, offering competitive pricing and enhanced logistics efficiency [6]. - Temu has partnered with the UK Royal Mail to enhance its local fulfillment system, adding over 24,000 package drop-off points, aiming for 80% of its European sales to come from local sellers [6]. Group 3: Automotive Industry Moves - Leap Motor has officially entered the South American market, launching its electric vehicles in Brazil and Chile, with plans to establish a network of dealerships across 27 cities in Brazil by 2025 [9]. - Avita has also entered the Latin American market, launching its Avita 11 model in Brazil, supported by local partnerships for market entry and sales [9]. Group 4: Technology and Innovation - WeRide and Uber have initiated a Level 4 autonomous Robotaxi service in Abu Dhabi, marking the first of its kind in the Middle East [6]. - JD FinTech has partnered with Banking Circle to provide cross-border payment solutions for global enterprises, enhancing financial flexibility and compliance [7]. Group 5: Robotics and AI Developments - The global humanoid robot market is projected to see annual sales exceed 10 million units by 2035, with a market size reaching $260 billion, indicating significant growth potential in the coming years [15]. - Beijing's government is actively supporting humanoid robot companies to expand internationally, fostering global collaboration and innovation in the robotics sector [15].

Investment Rating - The industry rating is "Recommended" [4] Core Insights & Investment Recommendations - "Zootopia 2" achieved a single-day box office of 700 million yuan, setting a new record for animated films. The cumulative box office reached 1.37 billion yuan, with total pre-sale tickets at 1.54 billion yuan. The significant increase in audience numbers reflects the strong appeal of quality IP and production, injecting confidence into the film industry chain [2][21] - In November, 184 game licenses were approved, indicating continuous optimization in the industry supply. The National Press and Publication Administration released 184 game licenses, including 178 domestic and 6 imported games. The high number of licenses reflects policy stability, allowing leading companies to deepen their competitive advantages through product iteration and multi-platform strategies [2][22] - Current head technology companies are increasing their computing power investments, coupled with a recovery in entertainment consumption. Investment opportunities include: 1) Hong Kong internet leaders, promoting consumption and stabilizing employment; 2) Gaming industry, with policy incentives boosting domestic demand and technological empowerment enhancing product competitiveness; 3) Film and cultural tourism industries, with consumption policies promoting cinema recovery and stimulating improvement in consumer demand [3][22] Sub-industry Data Film Industry - The top three films by box office this week are "Zootopia 2" (1.373 billion yuan, 89.50% market share), "Wild Era" (59.14 million yuan, 3.90% market share), and "Demon Slayer: Infinity Castle" (47.84 million yuan, 3.10% market share) [23][24] Gaming Industry - The top three iOS games by sales are "Peace Elite," "Honor of Kings," and "League of Legends Mobile." The top three Android games by popularity are "Heart Town," "Boundary: Knife Sound," and "Daughter of Volcano: Reunion" [26][27] TV Series Industry - The top three TV series by broadcast index are "Tang Dynasty Strange Stories: Chang'an" (83.2), "Xiao Qi Qing Huang" (80.6), and "Si Xi" (79.7) [28][29] Variety Shows & Animation - The top three variety shows by broadcast index are "Now Departing Season 3" (81.7), "Wonderful Night Season 2" (78), and "Running on the Road: Tianlu Edition" (75.9) [30][32] - The top three animations by viewership index are "Immortal Reversal" (193), "Demon Slayer" (187.6), and "Devouring the Starry Sky" (175.2) [31][33]

《互联网暴露面风险趋势与能力建设》报告由腾讯云发布，基于多年攻防实战经验，聚焦暴露面风险现状、行业痛点及解决方案，提出以"持续威胁暴露面 管理（CTEM）"替代传统防护模式，为企业构建全维度风险防控体系提供指引。 当前网络攻击呈现趋利化、自动化特征，威胁主体涵盖国家级攻击力量、黑灰产组织等，攻击目标覆盖国家关键基础设施、商业数据、个人敏感信息等多领 域，政企高危害攻击案例年增约27%，勒索事件与数据窃取事件频发。风险形式多样，包括存储桶盗刷、API接口泄露、凭据泄露、隐私泄露等隐匿攻击， 传统漏洞扫描与渗透测试存在明显局限，难以覆盖复杂架构下的全量风险点。 攻防演练常态化背景下，防守方面临多重困境。攻击方凭借专业团队、精良工具、充足资金占据主动权，可灵活选择攻击时间与目标；而防守方普遍缺乏攻 防经验、团队磨合不足，防护手段以IP封堵、漏扫为主，缺乏攻击者视角的风险发现能力，难以覆盖供应链、分子公司等延伸暴露面。安全防护正从"产品 告警驱动"向"暴露面管理驱动"转变，核心是从攻击视角全面识别、评估并收敛风险。 暴露面管理相比传统漏洞扫描优势显著。其关注范围更广，涵盖漏洞、云配置错误、凭据被盗等所有攻击者可见资源 ...

Core Insights - The current era is characterized as the age of artificial intelligence, comparable to the time when the steam engine was invented, marking a significant investment opportunity [3][15] - Technological progress is identified as the fundamental driver of wealth growth and societal advancement, despite economic fluctuations and crises [5][16] - The investment strategy of the company has shifted towards focusing on AI-related companies, similar to past successful investments in technology [9][16] AI Era - The AI era is seen as a transformative period, with potential for significant changes in business models and consumer behavior, such as the use of AI agents for everyday tasks [12][22] - Companies like Nvidia and Google are highlighted as key players in the AI space, with substantial investments in research and development [22][23] Investment Strategy - The company has made strategic decisions to invest heavily in AI technologies, reflecting a belief that the same opportunities that existed in previous technological revolutions are present today [9][16] - The importance of long-term investment perspectives is emphasized, suggesting that successful investments require a multi-decade view [10][19] Market Trends - The Nasdaq index has shown significant growth over the past decades, with historical performance indicating that technology-driven markets tend to outperform others [5][18] - Recent trends show increased investment in companies like Google and Alibaba, indicating a shift in market sentiment towards AI and technology stocks [13][14][23] Competitive Landscape - The competitive environment in AI is described as intense, with major companies like Amazon, Google, and Microsoft investing heavily in AI technologies [22] - The potential for monopolistic structures in the AI industry is noted, with a few companies likely to dominate the market and achieve unprecedented valuations [24]

Core Insights - The rapid development of AIGC technology has led to the generation of highly realistic content with simple prompts, but it also poses significant security risks such as fake news, identity fraud, and copyright infringement [1] - AI-generated image detection has become a fundamental security capability in the AIGC era, yet existing detectors perform well on benchmark datasets but struggle in real-world scenarios [1][3] - Tencent's Youtu Lab, in collaboration with research teams from East China University of Science and Technology and Peking University, has proposed the Dual Data Alignment (DDA) method to systematically suppress biased features and enhance the generalization ability of detectors across different models and data domains [1][18] Problem Identification - The root cause of detection issues lies in the construction of training data, where detectors rely on biased features rather than learning the essential characteristics that distinguish real from fake [3][4] - Systematic differences between real and AI-generated images lead to the learning of "shortcut strategies" by detection models, resulting in high accuracy on specific datasets but poor performance when faced with modified images [4] Proposed Solution - The DDA method aims to eliminate biases in training data through reconstruction and alignment, consisting of three main steps: pixel alignment, frequency alignment, and mixup [7][14] - Pixel alignment uses Variational Autoencoder (VAE) technology to reconstruct real images, ensuring consistency in content and resolution [8] - Frequency alignment addresses the loss of high-frequency information in JPEG-compressed real images, ensuring that the reconstructed images do not introduce new biases [9][12] - The final step involves mixing real and aligned generated images to enhance the alignment of true and false data [13] Experimental Results - The DDA method was evaluated under strict conditions, training a single universal model and testing it across various unknown and cross-domain datasets [15] - In a comprehensive test involving 11 different benchmarks, DDA outperformed in 10 of them, achieving a minimum accuracy (min-ACC) that was 27.5 percentage points higher than the second-best method [18] - The detection accuracy on the challenging "In-the-wild" dataset Chameleon reached 82.4%, demonstrating the model's effectiveness in real-world scenarios [18]

由 文心大模型 生成的文章摘要 腾讯方面表示，此次全球发布的核心宗旨是降低高质量3D模型的制作门槛。依托先进的AI算法，用户 可通过文本描述、参考图像或设计草图等多样化输入方式直接生成3D素材，相较于传统依赖专业软件 的制作方法，能够显著缩短3D资产的生产周期，降低技术门槛与时间成本。 与此同时，混元3D模型应用程序接口（API）已通过腾讯云官方平台正式上线。作为腾讯旗下核心的云 计算服务载体，腾讯云将为全球企业用户提供稳定的技术支撑，助力其将3D生成功能快速集成至自身 业务流程中。据腾讯介绍，该API的应用场景已覆盖游戏开发、电子商务展示、影视特效制作、广告创 意设计、社交媒体内容创作及3D打印建模等多个领域。 在使用权益方面，混元3D创作引擎面向全球个人用户提供每日20次的免费生成额度；通过腾讯云接入 API的企业用户，则可享受每日200个3D资产的免费生成权益，为不同类型用户的初期体验与业务测试 提供支持。 腾讯控股有限公司于本周正式宣布，在全球范围内推出自研的混元3D创作引擎。该引擎是一款以人工 智能技术为核心驱动力的专业创作平台，核心目标在于简化全球创作者及企业用户的3D数字资产生成 流程，推动3D ...

11月28日，由北京师范大学社会治理与公共传播研究中心主办的"协同共建驱动急救变革"主题交流 会在京举行。会议聚焦社会应急救援体系建设，重点研讨了由腾讯公司等社会力量共同推动的"五分钟 社会救援圈"社会创新项目。该项目通过科技赋能与社会协同，有效提升了院外急救效率，为破解我国 院前急救资源紧张、公众参与度不高等难题提供了新思路与新路径，是"科技向善"理念在社会治理领域 的生动实践。 我国院前急救体系长期面临挑战：公众急救技能普及率不足1%，自动体外除颤器（AED）配置密 度相对较低，且急救响应各环节协同效率有待加强。数据显示，心脏骤停患者的抢救成功率与救援时效 密切相关，"黄金4分钟"内的有效干预至关重要。 针对这些痛点，腾讯公司自2020年起，秉持"用户为本，科技向善"的使命愿景，探索构建"五分钟 社会救援圈"。该项目依托企业技术优势，初步形成了"党政引导、企业赋能、社会协同、公众参与"的 多元共建模式。截至2025年10月，项目已累计实施应急救助51511例，其中成功救治心脏骤停患者352 名。 项目核心是打造以"企鹅急救"智能平台为枢纽的数字化急救体系。该平台深度融合微信生态、精准 定位、AI调度算法、 ...

【小鹏汽车捐赠500万港元，支援香港大埔火灾救援】 【喜茶捐赠500万港元，支援香港大埔火灾救援】 【蜜雪冰城捐赠2000万港元，支援香港大埔火灾救援】 【比亚迪捐赠1000万港元，支援香港大埔火灾救援】 【#近130家企业驰援香港大埔火灾#】11月26日下午，香港大埔宏福苑发生严重火灾，导致重大人员伤 亡及财产损失，灾情牵动社会各界。截止目前不完全统计，近130家企业纷纷驰援香港。 详细如下↓ 【腾讯追加2000万港元捐款，累计3000万港元支援香港大埔火灾救援】 | 1 | 行业 | 企业名称 | 捐助金额 | 备注 | | --- | --- | --- | --- | --- | | | | | (万港元) | | | 2 | 互联网 | 阿里巴巴 | 2000 | | | 3 | | 马云公益基金会 | 3000 | | | 4 | | 腾讯公益慈善基金会(香港) | 3000 | 首批捐款1000万+追加2000万 | | 5 | | 字节跳动(香港) | 1000 | | | 6 | | 目度 | 1000 | | | 7 | | 网易 | 1000 | | | 8 | | 微博 | 1000 ...