南方财经全媒体记者林汉垚实习生徐若萱 今日，多家保险公司发布的2025年度理赔年报披露内容显示，保险业正在经历一场从"数字化工具辅 助"向"AI驱动"的范式转移。 21世纪经济报道记者梳理平安人寿、工银安盛人寿、腾讯微保及众安保险等机构的2025年理赔数据发 现，理赔服务发展已不仅局限于速度提升，而是转向了AI大模型对复杂责任判定的深度介入，以及通 过数据直连实现的"医保+商保"一站式结算。 数据显示，多家险企及互联网平台在2025年的理赔质效实现了跃升。 平安人寿全年累计赔付达415.1亿元，获赔率高达99.2%；工银安盛人寿全年赔付理赔金25.1亿元，守护 人次达286.1万；众安保险全年赔付金额179亿元，日均处理案件约290万件；腾讯微保平台累计理赔金 额达84亿元。 给付数据背后，AI大模型技术的应用渗透率正极大影响着险企运营效率，部分机构的自动化审核结案 率已近五成。 AI大模型已成理赔提效核心引擎 2025年保险业理赔流程的最显著变化，在于AI大模型实现了从"单据识别"向"逻辑推理与责任判定"的深 度进化。 平安人寿在理赔报告中披露，公司正式引入DeepSeek大模型打造全新的智能审核引擎。目前 ...

Core Insights - The competition in AI is intensifying as major companies like Tencent and Baidu launch cash red envelope activities in their AI applications, reflecting a return to aggressive marketing strategies reminiscent of the mobile internet boom [1][2] - The integration of social features in AI applications is seen as essential for survival in the competitive landscape, as companies aim to reshape social interactions in the AI era [2][4] Group 1: Company Strategies - Tencent is set to launch a Spring Festival activity on February 1, allowing users to participate in cash red envelope distribution through its AI app "Yuanbao," which also features a social function called "Yuanbao Pai" [1] - Baidu announced a similar cash red envelope activity for its AI application "Wenxin Assistant," starting on January 26 [1] - The return of cash red envelope strategies is viewed as a necessary survival tactic for Chinese internet companies to maintain user engagement and loyalty in the evolving AI landscape [2] Group 2: Industry Trends - The shift towards AI-driven social interactions is characterized as a complex ecosystem involving connections between humans and intelligent agents, as well as interactions among intelligent agents themselves [2] - The current competitive environment is marked by a consensus in the tech industry that AI is not optional but a critical race for survival, with resources increasingly directed towards AI development [2] - The expectation for AI technology has evolved beyond mere efficiency improvements to encompass a transformative role in reshaping connections between people, information, and services [4] Group 3: User Impact - The competition among tech giants is expected to lead to significant increases in daily active users (DAU) and a resurgence of user engagement reminiscent of the mobile internet's golden age [3] - The integration of AI into social interactions is anticipated to create new employment opportunities, upgrade industries, and reconstruct consumer scenarios, thus playing a key role in economic recovery and confidence boosting [4] - The ultimate beneficiaries of this competitive landscape are expected to be ordinary users, who will gain from enhanced AI capabilities and improved interaction experiences [4][5]

Investment Rating - The report maintains a "Neutral" rating for the computer industry and an "Accumulate" rating for Hongsoft Technology (688088) [2] Core Insights - The report highlights significant advancements in AI applications, including Tencent's new AI social feature "Yuanbao" and the global first deployment of a large model in space by Guoxing Aerospace [12][13] - The domestic cloud computing sector is expected to see a rebound in capital expenditure due to easing chip supply constraints, while AI applications are anticipated to reach a commercialization inflection point earlier than expected [25][26] - The report emphasizes the importance of focusing on leading companies with strong AI technology implementation capabilities and scene adaptation advantages [26] Industry News - Tencent's AI assistant "Yuanbao" has launched a new version that includes various social features, aiming to create a multi-user social space [12] - The first successful deployment of a large model in space was achieved by Guoxing Aerospace, marking a significant milestone in AI technology [13] - Domestic GPU company Suiruan Technology has received approval for its IPO on the Sci-Tech Innovation Board, aiming to raise 6 billion yuan [14] Company Announcements - Dahua Technology reported a total revenue of 32.743 billion yuan for 2025, with a year-on-year growth of 1.75% [15] - Yimikang expects a net profit of 0.25 to 0.37 billion yuan for 2025, representing a growth of 128.69% to 142.46% [17] - Glodon anticipates a net profit of 3.76 to 4.26 billion yuan for 2025, with a growth rate of 50.15% to 70.11% [18] Market Review - From January 22 to January 28, the CSI 300 index fell by 0.11%, while the Shenwan Computer Industry index decreased by 0.35% [19] - The report notes mixed performance among the Shenwan Computer sub-industries, with horizontal software leading at 2.39% [19] Weekly Strategy - The report suggests that the domestic computing power industry is likely to accelerate due to policy support and technological advancements in AI [25] - The anticipated launch of DeepSeek V4 during the Lunar New Year is expected to drive a new round of technological iteration in domestic large models [25] - The report encourages attention to companies that demonstrate strong capabilities in AI technology implementation and scene adaptation [26]

Group 1 - The interest of mutual funds in the Hong Kong market slightly decreased in Q4 of last year, with strong capital inflows into the metals and financial sectors [1] - By the end of 2025, the structure of stock holdings in equity and mixed mutual funds diversified, with the top 50 holdings' share of total stock investments dropping from 25.8% to 25.1% [1] - The proportion of Hong Kong stocks in mutual fund heavyweights decreased from a peak of 17.8% to 16.3% [1] Group 2 - Driven by global metal market trends, Chinese mutual funds significantly increased their investments in metal stocks in Q4, with a quarterly rise of 1.7 percentage points [2] - Fund managers showed optimism towards banks and diversified financials, with notable inflows into Industrial Bank and ICBC [2] - For Q1 2026, mutual funds are expected to have a higher risk tolerance post profit-taking, with AI and metals remaining key investment themes [2]

新浪科技讯 1月29日下午消息，近日，在西岸国际会展中心举行的2025年度徐汇区招商引资表彰大会 上，腾讯和米哈游作为"十四五"期间（2021-2025）为徐汇区域经济发展作出重大贡献的企业，获得了 徐汇区颁发的"十四五"高质量发展卓越功勋奖。 感谢徐汇一直以来对于米哈游的支持和帮助，未来我们继续扎根徐汇发展，也继续努力为徐汇经济社会 发展贡献力量。 责任编辑：宋雅芳 新浪科技讯 1月29日下午消息，近日，在西岸国际会展中心举行的2025年度徐汇区招商引资表彰大会 上，腾讯和米哈游作为"十四五"期间（2021-2025）为徐汇区域经济发展作出重大贡献的企业，获得了 徐汇区颁发的"十四五"高质量发展卓越功勋奖。 除了获得表彰外，米哈游联合创始人刘伟还在朋友圈发文并配图，图片显示：在"十四五"期间（2021 年-2025年），米哈游累计创税已达150亿元。刘伟朋友圈原文如下： 从2011年到徐汇创业，一转眼已经过去了十五年！米哈游很荣幸能够在过去五年为徐汇的发展贡献自己 的一份力量。 从2011年三个交大学生在徐汇开始大学生创业，十五年的发展过程中，我们深刻地感受到了徐汇为创业 者打造的"无事不扰，有求必应"的营 ...

2026年春节，手机大概率会变成一台「AI抽奖机」。 字节跳动的「豆包」占了春晚的C位，腾讯直接拿出10亿想牵制对手，百度的「5亿红包」则在每个搜 索框里，晃来晃去。 腾讯内部，把这事儿叫做「重现2015微信红包时刻」，外面的公关稿更是添油加醋；搞得这好像，咱们 迈入通用人工智能（AGI）时代的一场集体成人礼，需要发红包来庆祝一哈子。 但说实话，真相根本没这么光鲜。因为现在发钱，字里行间都透着一股化不开的「战略焦虑」。 01 为啥这么说？我斗胆说一句：现金可能换不来智力。 不信咱们回头捋捋就知道了。 很多人一看到10亿红包，第一反应，当年微信支付不就是这么起来的吗？觉得只要钱给够，就能改掉用 户的习惯。可这恰恰是最大的误区。 2015年的红包那是实打实的「燃料」，2026年这些AI红包，撑死了不过是一场大规模的「贿赂」。 咱们回头看，2015年微信红包能一战封神，核心是它完成了一个「冷启动」的闭环；你想领那几块钱红 包，就必须绑定银行卡，一旦绑了卡，后面打车、点外卖、逛电商就全通了。 钱不过是个媒介，真正目的是把你拉进「移动支付」这个基础设施里。可现在呢？发完红包之后的闭环 在哪儿？ 用户领了5块钱，然后呢？ ...

深圳商报·读创客户端记者 曹欣 万亿奇迹的 "黄金组合" 2025 年，深圳市南山区 GDP 首破万亿元大关，成为我国首个万亿级地市辖区。这一里程碑事件，让这 座仅占深圳 1/10 土地的城区，站上了全球科技与经济竞争的 "擂台"。作为长期深耕区域经济研究的权 威专家，国家高端智库 CDI 资深研究员宋丁深度解码南山万亿跨越的核心动能、现存短板与未来路 径，为我们揭开这座科技城区的全球竞争力内核。 谈及南山破万亿的核心动力，宋丁一语中的："核心就是科技加金融，这是南山创造万亿奇迹的关键发 酵剂。" 作为我国最早的国家级科技园所在地，南山孕育了华为、腾讯、中兴等标杆企业，奠定了坚实的科技与 研发根基。"全市的科技动能从南山逐步扩张，" 宋丁强调，即便部分制造业外迁，南山仍保留大量高 端制造环节，形成 "研发 + 产业" 的完整链路。 而金融的精准赋能，让科技成果快速 "变现"。"深圳金融是强项，各类金融渠道为科技转化提供关键助 力，" 宋丁指出，与部分城市科研成果 "锁在实验室、专利闲置" 不同，南山的科技是 "变现式科技"， 能迅速进入转化通道，金融与科技 "接口对接精准"，构成高效创新闭环。 企业主导，技术 ...

Core Viewpoint - Suiyuan Technology, backed by Tencent, is entering the capital market with a unique narrative, focusing on deep collaboration with internet platforms rather than merely competing with Nvidia [1] Group 1: Company Overview - Suiyuan Technology has submitted its prospectus to the Shanghai Stock Exchange, joining other AI chip companies in the market [1] - The company plans to raise 6 billion yuan, aiming to differentiate itself through cost-effectiveness in the inference era [1] Group 2: Revenue Structure - As of the first three quarters of 2025, 57.28% of Suiyuan's revenue comes directly from Tencent, which increases to 71.84% when including indirect sales through server vendors [2] - Suiyuan's pricing for products sold to Tencent is lower than market rates, indicating Tencent's significant influence as both a major customer and a price setter [2][3] Group 3: Competitive Landscape - Suiyuan's customer structure is extreme compared to other domestic AI chip manufacturers, with Tencent being a dominant client [3] - The company has gained substantial practical experience through its collaboration with Tencent, which is crucial for validating business models in large-scale applications [4] Group 4: Market Challenges - Tencent's conservative investment in AI compared to competitors like Baidu and Alibaba may limit Suiyuan's growth potential [4] - Despite a compound annual growth rate of 183% over the past three years, Suiyuan's absolute revenue remains significantly lower than competitors like Cambricon, which reported 4.607 billion yuan in revenue for the first three quarters of 2024 [5] - The company's sales rate has been declining, dropping from 99.46% in 2023 to 69.48% in the first three quarters of 2025, suggesting potential demand weakness [5]

微盟集团（02013）盘中涨超7%，截至发稿，股价上涨5.79%，现报2.56港元，成交额3.41亿港元。 微盟集团（02013）盘中涨超7%，截至发稿，股价上涨5.79%，现报2.56港元，成交额3.41亿港元。 凭借春节红包活动及新功能"派"的发布，腾讯元宝在各大应用商店的榜单排名迅速攀升。截至1月28 日，其在苹果应用商店免费榜已跃升6位，目前位列第二。开源证券认为，腾讯元宝的新春红包活动或 标志着腾讯加入对C端AI应用超级入口的争夺，红包活动或推动元宝下载量及日活用户数大增，大模型 厂商对于AI入口的争夺再升级。 东北证券表示，GEO市场星辰大海，对SEO将形成取代。微盟是国内头部的微信生态AI+SaaS服务商， 当前AI产品落地，叠加GEO升级，该行认为未来客户数量、客户粘性及ARPU值均具备提升空间，看好 GEO率先落地打开增长空间。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 客户端 凭借春节红包活动及新功能"派"的发布，腾讯元宝在各大应用商店的榜单排名迅速攀升。截至1月28 日，其在苹果应用商店免 ...

Wind数据显示，1月以来，跟踪该指数的恒生科技ETF易方达（513010）累计净流入超15亿元，产品最 新规模突破300亿元、创成立以来新高，流动性较好且支持T+0交易，可助力投资者把握港股科技产业 链在资金回流与产业催化共振下的配置机会。 从消息面看，当前美股科技股进入财报密集期，AI、云计算及应用端商业化进展仍是市场关注焦点。 若海外科技龙头业绩表现及未来指引超出预期，相关产业趋势有望通过估值与风险偏好传导，对港股科 技板块形成同步催化。 恒生科技指数由港股上市公司中与科技主题高度相关的、市值最大的30只股票组成，聚焦半导体、机器 人、软件、互联网、智能驾驶等科技板块，权重股包括腾讯控股、阿里巴巴、中芯国际等龙头企业。从 估值来看，指数当前滚动市盈率为24.8倍，位于2020年发布以来40%分位以下。 1月29日早盘，港股科技板块大幅下探后持续反弹，展现出较强韧性，截至9:47，恒生科技指数下跌 0.7%。 从成交与资金来看，近期港股市场整体成交回暖，南向资金成交金额及成交占比双双回升，资金参与度 持续提升；与此同时，外资主动型资金已连续两周转为净流入，港股科技板块的资金结构出现积极变 化，为行情修复提 ...