智通财经APP获悉，12月15日,小米集团-W（01810）、中国平安（02318）、美团-W（03690）南向资 金净流入金额位列市场前三，分别净流入13.82 亿、11.88 亿、7.10 亿 腾讯控股（00700）、华虹半导体（01347）、中国移动（00941）南向资金净流出金额位列市场前三， 分别净流出-7.76 亿、-5.56 亿、-5.50 亿 在净流入比方面，工银南方中国（03167）、上海实业控股（00363）、奥克斯电气（02580）以 100.00%、74.08%、73.00%位列市场前三。 在净流出比方面，中国银河（06881）、361度（01361）、中信证券（06030） 以-57.12%、-55.99%、-54.85%位列市场前三。 | 股票名称 | 净流出(元)↓ | 净流出比 | 收盘价 | | --- | --- | --- | --- | | 腾讯控股(00700) | -7.76 亿 | -8.45% | 603.000（-2.11%） | | 华虹半导体(01347) | -5.56 亿 | -20.09% | 67.300（-6.40%） | | 中国移动(0094 ...

NO.2腾讯《逆战：未来》PC版先遣测试招募启动 NO.1莉莉丝代理《帕萌战斗日记》国服开启预约 12月17日，莉莉丝游戏宣布代理的手游《帕萌战斗日记》，正式在TapTap、好游快爆等国内核心游戏渠 道启动预约。这款由北京乌撒尔研发的作品，其海外版本《Palmon: Survival》已实现累计超2亿元收 入，国服于2025年6月顺利拿下游戏版号，此次预约开启标志着其正式进入国内市场冲刺阶段。 12月17日消息，腾讯旗下经典产品续作《逆战：未来》正式启动PC版本先遣品鉴测试招募，招募周期 为12月16日至12月19日，受邀玩家将于12月23日率先体验游戏内容。作为承载着千万玩家情怀的IP续 作，此次PC端测试招募标志着游戏双端布局进入关键验证阶段。 NO.3沐瞳《银与绯》半周年庆12月25日启幕 （文章来源：每日经济新闻） 12月17日消息，沐瞳科技宣布旗下暗黑哥特幻想卡牌手游《银与绯》半周年庆典将于12月25日正式开 启。作为沐瞳首款核心向二次元产品，此次庆典推出全新盛装皮肤"圣咏调律"，搭配多重福利活动，为 玩家带来内容更新与福利回馈双重惊喜。 ...

Market Overview - The three major U.S. stock indices all experienced declines on Wednesday, while the Hang Seng Index ADR rose, closing at 25,347.63 points, down 121.15 points or 0.48% compared to the Hong Kong close [1]. Hang Seng Index ADR Details - The Hang Seng Index ADR had a high of 25,539.75 and a low of 25,311.91, with a trading volume of 37.8613 million [2]. - The average price for the ADR was 25,425.83, with a previous close of 25,468.78 [2]. Major Blue-Chip Stocks Performance - HSBC Holdings closed at 118.414 HKD, up 0.78% compared to the Hong Kong close [3]. - Tencent Holdings closed at 595.34 HKD, down 1.6% compared to the Hong Kong close [3]. - Alibaba Group closed at 146.000 HKD, up 1.25%, while its ADR was 143.049 HKD, down 2.02% [4]. - Other notable stocks include AIA Group, which closed at 80.950 HKD, up 1.44%, and Xiaomi Group, which closed at 41.220 HKD, up 0.78% [4].

3. 工信部部长李乐成会见美国超威半导体公司（AMD）董事会主席兼首席执行官苏姿丰， 双方就加强数字经济、人工智能领域合作等议题进行交流。 1. 中金公司吸收合并东兴证券、信达证券方案出炉！ 根据公告，每股东兴证券、信达证券股票能换取中金公司股票的比例，分别确定为1:0.4373、 1:0.5188。三家公司股票将于12月18日复牌。合并后，中金公司将成为行业第四家总资产跨入"万亿俱乐部"的券商。 2.全球白银市场正迎来历史性时刻，短短数周内开启连续刷新纪录的上涨行情。 12月17日，现货白银价格接连突破65美元/盎司、66美元/盎司两道关口， 并向67美元/盎司逼近。 今年以来，现货白银涨幅已达约130%，是同期黄金期货涨幅的2倍。供需失衡、美联储降息以及资金涌入共同催生了白银本轮 的"疯涨"行情。 1.据证券时报，"十五五"开局之年，适度宽松的货币政策要努力推动实现经济增长、物价回升，这首先要求明年金融总量保持合理增长，充分满足实体经 济融资需求。 市场机构普遍预计明年降准、降息分别有0.5个、0.1个百分点左右的空间。 根据中央经济工作会议要求，明年结构性工具将聚焦扩大内需、 科技创新、中小微企业等重点 ...

Core Insights - Tencent is focusing on expanding its overseas cloud and gaming businesses, leveraging its technological advantages and local service capabilities to capture growth opportunities in international markets [1][4][6]. Overseas Cloud Business - Tencent Cloud adopts an "infrastructure-first" strategy, accelerating data center deployment globally, currently covering 22 regions [1]. - The company plans significant investments in overseas infrastructure, including $150 million in the Middle East and $500 million in Indonesia for new data centers [1]. - Tencent Cloud's competitive edge lies in its leading technology and localized services, successfully migrating key clients like GoTo in Indonesia and Charoen Pokphand Group in Thailand [4][6]. Overseas Gaming Business - Tencent's overseas gaming revenue is projected to reach 75.7 billion yuan in 2025, with a year-on-year growth of 31%, driven by its industrialization capabilities and strategic acquisitions [2][6]. - The company is increasingly collaborating with game development teams, enhancing its Game as a Service (GaaS) model to replicate successful domestic strategies in international markets [2][7]. AI Empowerment in Gaming - AI tools are being extensively utilized in game development, with 95% of employees at Tencent's Photon Studio using AI to enhance production efficiency and user experience [3][8]. - The company is advancing AI capabilities beyond traditional models, achieving real-time scene generation and improving player retention through AI-driven features [3][9]. Future Outlook - Tencent is positioned to benefit from the growing demand for cloud services among Chinese enterprises going global and the local SaaS market, particularly in Southeast Asia [5][6]. - The company aims to enhance its GaaS operations and IP value through cross-media development and AI integration, ensuring long-term brand sustainability [7][8].

腾讯在AI生态层面频繁的动作，对业绩的转化效果非常明显。 腾讯AI方面的负责人也发生变化。OpenAI前研究员姚顺雨（Vincesyao）出任"CEO/总裁办公室"首席AI 科学家，向腾讯总裁刘炽平汇报；同时兼任AI Infra部、大语言模型部负责人，向技术工程事业群总裁 卢山汇报；王迪继续担任大语言模型部副总经理，向姚顺雨汇报。刘煜宏担任AI Data部负责人、陈鹏 担任数据计算平台部负责人，均向公司副总裁蒋杰汇报。 "人才争夺是当前AI竞争的核心，腾讯为此下重金引进人才。一方面，姚顺雨是OpenAI智能体产品 Operator的核心贡献者，他擅长的领域是行业的下一个竞争焦点。而姚顺雨有望快速推动腾讯在混元大 模型方面的进一步研究，他的加入能够帮助腾讯从其他竞争对手招募到更核心的人才。"一位业内从业 者向《证券日报》记者说。 提升AI大模型研发效率 作为腾讯大模型体系的重要一环，AI Infra部将负责大模型训练和推理平台技术能力建设，聚焦大模型 分布式训练、高性能推理服务等核心技术能力，构建大模型AI Infra核心竞争力，为大模型算法研发和 业务场景落地提供稳定高效的技术支持和服务；架构升级后的AI D ...

Group 1: OpenAI Developments - OpenAI launched a new image generation model, ChatGPT Images, which enhances image generation speed by 4 times and allows for precise editing while maintaining detail [1] - The model supports various editing types such as adding, removing, and combining elements, with improved text rendering capabilities for handling dense and small text [1] - The new Images feature is available to all ChatGPT users, with the API offered at a 20% lower price than the previous version [1] Group 2: Meta Innovations - Meta has open-sourced the audio segmentation model SAM Audio, which can separate any sound from complex audio mixes using text, visual, and time span prompts [2] - The core engine PE-AV is based on Perception Encoder and has been trained on over 100 million videos, achieving a processing speed faster than real-time [2] - SAM Audio-Bench and SAM Audio Judge have been released for benchmarking and evaluation, achieving state-of-the-art performance in various audio separation tasks [2] Group 3: Xiaomi's AI Model - Xiaomi released and open-sourced the MiMo-V2-Flash model, featuring 309 billion total parameters and 15 billion active parameters, surpassing all open-source models with a SWE-bench Verified score of 73.4% [3] - Key innovations include a 5:1 hybrid sliding window attention mechanism and lightweight multi-token prediction, improving inference speed by 2 to 2.6 times [3] - The post-training process uses a multi-teacher online distillation strategy, requiring only 1/50th of the computational power to achieve peak teacher performance [3] Group 4: Tencent's Real-Time Model - Tencent officially released and open-sourced the HY WorldPlay model, enabling real-time interactive 3D world creation from text or image inputs at 24 FPS and 720P video quality [4] - Innovations include a memory reconstruction mechanism for geometric consistency and a 3D autoregressive diffusion model for enhanced learning [4] - The model provides a comprehensive real-time world model training system, covering data, training, and streaming inference deployment [4] Group 5: Vidu Agent Launch - Vidu Agent has opened global beta testing, focusing on "one-click video creation" capabilities, allowing users to upload product images and information to generate ready-to-launch advertisements [6] - Highlights include storyboard-level control, fine editing capabilities, and multi-language customization [6] - The platform supports video replication, enabling bulk production of high-quality videos based on popular one-minute videos and product images [6] Group 6: Google's Gemini Updates - Google introduced the Super Gems feature in Gemini, integrating Opal applications with the Gems manager, making the Opal workflow directly accessible in the Labs area [7] - The new Workflow Builder allows for automatic generation of complete workflow steps and visual elements based on scene descriptions [7] - Workflows can be shared via links without relying on Google Drive permissions, enhancing user accessibility [7] Group 7: OpenAI's FrontierScience Benchmark - OpenAI launched the FrontierScience benchmark to assess expert-level scientific capabilities, featuring over 700 physics, chemistry, and biology questions [8] - GPT-5.2 scored 77% in the Olympiad track and 25% in the research track, outperforming other leading models [8] - The research track uses a 10-point scale focusing on reasoning correctness, revealing issues in logical reasoning and understanding of professional concepts [8] Group 8: Xiaomi's Future Plans - Xiaomi's Luo Fuli made her first public appearance, discussing the MiMo-V2-Flash model's core directions, emphasizing the need for models that can interact with the physical world [9] - She highlighted that computational power and data are not the ultimate moat; the true moat lies in scientific research culture and the ability to turn unknown problems into usable products [9] - Xiaomi plans to invest over 200 billion yuan in R&D over the next five years, with an estimated 40 billion yuan allocated for 2026 [9]

以下文章来源于MaxAIBox ，作者Max MaxAIBox . MaxAIBox.com 汇集优秀 AI 工具，探索 AI 无限可能 9 月传闻炸圈：上亿年薪？OpenAI 大神要入腾讯混元？ 2025 年 9 月上旬，AI 圈被一条传闻搅得沸沸扬扬： OpenAI 前核心研究员姚顺雨要跳槽腾讯，加盟混 元大模型团队，甚至有消息称其年薪高达上亿元 。 要知道，今年 27 岁的姚顺雨已是业内顶流——清华姚班出身、普林斯顿博士，刚从 OpenAI 离职，还深 度参与过今年推出的 Operator、Deep Research 等核心智能体产品研发，更是《麻省理工科技评 论》"35 岁以下科技创新 35 人"中国区最年轻入选者。 这样的"天才选手"要加入腾讯，自然引发全网热议。但没过多久，腾讯官方公众号"鹅厂黑板报"就出面辟 谣，明确表示"上亿薪资入职"传闻不实，给这波热度泼了盆冷水。 12 月官宣落地：不止入职，更是架构升级的核心棋子 和他入职同步的，还有腾讯大模型研发架构的重大调整——新成立 AI Infra 部、AI Data 部、数据计算平 台部三大部门，形成"研发—数据—平台"的闭环"铁三角"，而姚顺雨 ...

Core Insights - Tencent has established a consensus internally that it must possess self-developed model capabilities that cannot lag behind [4] - The company has recently undergone organizational adjustments, creating new departments focused on AI infrastructure, data, and model development [4][6] - Tencent is aggressively recruiting top AI talent, offering salaries up to double the market rate to attract professionals from competitors like ByteDance [8][9] Organizational Changes - Tencent has formed the AI Infra Department, AI Data Department, and Data Computing Platform Department to enhance its AI capabilities [4][6] - Vinces Yao has been appointed as the Chief AI Scientist and will oversee the AI Infra and large language model departments [4][6] - The restructuring aims to unify the model development efforts across various internal teams, enhancing collaboration and efficiency [5] Talent Acquisition - Tencent is actively targeting ByteDance's AI team, offering significantly higher salaries to attract top talent [8][9] - The company is not only focusing on fresh graduates but also on experienced professionals globally, indicating a strong urgency to build its AI capabilities [9] - The recruitment strategy has already yielded results, with new hires contributing to the development of Tencent's large model initiatives [9] Model Development and Performance - Tencent has released a new large model, HY 2.0, which shows significant improvements in pre-training data and reinforcement learning strategies [10] - The company plans to launch over 30 new models in 2025, with its 3D model already ranking among the global leaders [10] - The urgency to enhance model capabilities is driven by the competitive landscape, where model performance is critical for product success [19] Competitive Landscape - The AI application market in China is primarily focused on chatbot technologies, with model capabilities determining product potential [19] - Competitors like ByteDance and Alibaba are also making significant advancements, with ByteDance launching new products that enhance their market position [21][22] - Tencent faces unique challenges in integrating AI capabilities into its existing applications without compromising user experience or compliance [23] Future Directions - The next competitive focus is on developing AI agents, with Tencent planning to integrate such capabilities into WeChat [18][23] - Despite having a strong user base, Tencent must navigate the complexities of embedding AI into its established platforms while maintaining privacy and compliance [23] - The company acknowledges that the AI market is still in its early stages, indicating a cautious yet strategic approach to future developments [23]

Major Events - CICC (03908) plans a stock swap to absorb Dongxing Securities (601198.SH) and Xinda Securities (601059.SH), with resumption of trading on December 18 [1] - Yuanda Pharmaceutical (00512) has received approval to conduct clinical research in the U.S. for its self-developed innovative radiopharmaceutical GPN01530 [1] - Changfeng Pharmaceutical (02652) has had its clinical trial application for Olopatadine Mometasone nasal spray accepted by NMPA [1] - CRRC (01766) and its subsidiaries have signed significant contracts totaling approximately 53.31 billion yuan over the past three months [1] - Guangzhou Pharmaceutical, a subsidiary of Baiyunshan (00874), plans to invest around 500 million yuan to acquire 100% equity of Zhejiang Pharmaceutical Industry Co., Ltd. [1] Buybacks - China Metallurgical Group (01618) intends to repurchase up to 2 billion yuan of A-shares and 500 million yuan of H-shares [1] - Tencent Holdings (00700) repurchased 1.057 million shares for 636 million HKD on December 17 [1] - Techtronic Industries (00669) repurchased 500,000 shares for 44.91 million HKD on December 17 [1] - Country Garden Services (06098) repurchased 3.697 million shares for 23.17 million HKD on December 17 [1] - COSCO Shipping Holdings (01919) repurchased 285,750 shares for 38.61 million HKD on December 17 [1]