3月19日，港股放量大跌，截至收盘，恒指跌2.02%，恒生科技指数跌2.19%，南向资金净买入逾260亿港元。 | 名称 | 现价 涨跌 | | 涨跌幅 | 成交额 | | --- | --- | --- | --- | --- | | 恒生指数 | 25500.58c -524.84 | -2.02% | | 3062亿 | | 恒生科技 | 4996.28c -112.02 | -2.19% | | 883亿 | | 恒生生物科技 | 14237.24c -434.83 | -2.96% | | 80亿 | | 恒生中国企业指数 8695.88c -139.62 -1.58% | | | | 1199亿 | | 恒生综合指数 | 3849.77c -102.65 | | -2.60% | 2055亿 | 大型科网股多数下跌，腾讯控股、快手大跌超6%，华虹半导体、哔哩哔哩跌超5%，阿里巴巴跌超4%，百度集团、中芯国际等跌超3%。 | 名称 | 涨跌幅 - | 现价 | 涨跌 | | --- | --- | --- | --- | | 腾讯音乐-SW | -8.05% | 41.120c | -3.600 | ...

3月19日，亚太主要股指集体飘绿。沪指一度失守4000点关口，为1月5日以来首次；日经225指数跌超3%，韩国综合指数跌近 3%，澳洲标普200指数创去年11月以来收盘新低。 记者丨曾静娇 编辑丨刘雪莹 截至收盘，上证指数跌幅收窄至1.39%，深成指、科创综指跌超2%，创业板指跌超1%。全市约500股上涨，超4900股下跌。 具体来看，有色金属、石化、化肥农药、锂矿、稀土跌幅居前。 其中宏桥控股、威领股份、利民股份跌停， 兴业银锡、永兴材 料等多股跌超8%， 中金黄金、兴业银锡纷纷大跌。 黄金股大跌， 紫金矿业、中金黄金、山金国际等多股跌超7%； 港股黄金概念同步重挫。 消息面上，据央视新闻报道，美国联邦储备委员会18日宣布，将联邦基金利率目标区间维持在3.5%至3.75%之间不变。这一决定 符合市场预期。 备受关注的"点阵图"显示， 委员们普遍预计今年将降息一次，并在2027年再降息一次，但具体时点仍不明确。 此外， 鲍威尔 表示，短期内能源价格上涨将推高整体通胀，但相关影响的范围和持续时间仍存在较大不确定性。 若通胀无进展，将不会降 息。 与此同时，随着更多中东能源基础设施遇袭，3月18日美股三大指数大幅 ...

站在理性的视角， 无论是上涨还是下跌导致情绪过于一致（过于乐观或过于悲观）时，往往容易上演反转的剧情 。近期的反弹就是一个很好的 情绪逻辑验证。 本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 众所周知，从2025年10月初以来， 恒生科技 指数先后经历了 2波较大的调整，累计最大回撤超25% 。其中，第2波调整（主要发生在2026年2 月）导致恒生科技的表现在全球大类资产中垫底，对恒生科技的质疑仿佛一场大型网暴现场，让很多投资者感到绝望，以致引发市场热议。 3、AI叙事对恒生科技是危险也是机会 扫码看全文 -- 恒生科技近半年经历了2轮不一样的调整 首先，让我们来回顾下恒生科技近期的两波调整。 而站在当前时点，普通投资者不禁要问： 现在的恒生科技，究竟是 "黄金坑"的做多机会，还是再次"接飞刀"的陷阱？ 本文将结合最新数据与市 场逻辑，为你深度拆解这一核心问题。 和臭排 恒生科技可以布局了吗? 1、从估值看:恒生科技已经到了"便宜"区间 2、内资在"越跌越买"，外资重估港股避险价值 截至2026年3月17日， 恒生科技指数的滚动市盈率（ PE-TTM）已降至约20 .93 倍。 低于指数成立 ...

几乎同一时间，国家多部门联合发布意见，提出要完善外配处方流转机制，鼓励建设非医保药品自费处方电子流转平台。 "政策组合拳把过去模糊的地带划清楚了。"一位医药电商行业观察人士指出，新《条例》明确了第三方平台的身份定位，不是单纯的流量通道，而是要对 平台内经营者的行为承担实质性责任。"这其实是在为规范化的平台入场扫清障碍。" 快手踏入的，是一个早已巨头林立的江湖。当前中国医药电商的版图，大致可划分为以阿里健康、京东健康为代表的B2C货架电商，以及以美团买药、饿 了么买药为代表的O2O即时零售平台。前者凭借丰富的SKU和供应链积累，成为消费者计划性购药的首选；后者则依托本地生活配送网络，切走了"急用 药"场景的最大蛋糕。 快手杀入处方药赛道，医药电商迎来兴趣电商新变局 近日，据医健人物报道，快手已正式开放处方药销售通道，目前正针对特定类目定向招募符合资质的医药商家。这标志着继OTC（非处方药）、医疗器 械、保健品之后，处方药成为这家日活超4亿的内容平台攻克的最后一扇医药大门。 据悉，快手此次开放处方药销售并非全面铺开，而是采取"定向邀约"模式，对入驻商家的资质审核极为严苛。首批开放的类目主要集中在心脑血管、呼吸 系 ...

Investment Rating - The report maintains a "Buy" rating for the media and internet industry [5] Core Insights - The report emphasizes the synergy between cultural soft power and technological hard power, highlighting the importance of policy guidance and quality content in driving the internationalization of cultural industries [12][13] - The "14th Five-Year Plan" outlines a clear direction for the media and internet industry, focusing on technology support, quality content creation, and overseas market expansion [13][18] - The report identifies significant growth opportunities in the gaming and film sectors, driven by favorable policies and increasing international presence [42] Summary by Sections 1. Cultural Soft Power and Technological Hard Power - The "14th Five-Year Plan" aims to enhance cultural confidence and promote the integration of AI technology in the media sector, fostering high-quality development [12][13] - Economic growth is stabilizing around 5%, with a notable increase in cultural industry revenue, projected to reach 15.21 trillion yuan by 2025, reflecting a 7.4% year-on-year growth [18][24] 2. Quality Content Going Global - The report highlights the government's encouragement for cultural enterprises to internationalize, particularly in areas like online literature, gaming, and film [42] - The gaming market is projected to generate 350.79 billion yuan in revenue in 2025, with a 7.68% year-on-year growth, supported by relaxed domestic gaming regulations [43] 3. AI Integration and Industry Expansion - The report discusses the "AI+" initiative, which aims to integrate AI across various sectors, enhancing productivity and creating new business models [35][38] - The digital economy's core industry value added is expected to rise from 7.8% of GDP in 2020 to 10.5% by 2024, indicating a robust growth trajectory [35][37] 4. Investment Recommendations - The report suggests focusing on companies like Tencent, Alibaba, Kuaishou, and Mango Excellent Media, which are well-positioned to benefit from the cultural and technological integration [10][42]

编者荐语： 日经中文网与36氪开展内容交换合作。将精选36氪的精彩独家财经、科技、企业资讯，与读者分享。 以下文章来源于36氪 ，作者郑林 36氪 . 36氪是服务中国新经济参与者的卓越品牌和开创性平台，提供新锐深度的商业报道，强调趋势和价值，我们的slogan是：让一部分人先看到未来。 AI视频创作平台"即梦AI"的网页截屏（资料图） 本文为《当造梦成本归零｜影视行业的未来五年》全文 文 ｜ 郑林 封面来源 ｜ 日经中文网 作者介绍：伴山文化创始人，影视出品人、制片人、编剧。代表作品包括悬疑剧《新生》（制片人/编剧）、《你好，旧时光》《棋魂》《了不起的女孩》等高口碑剧集，投资出品院 线电影《孤注一掷》《南京照相馆》《群星闪耀时》等。曾联合创立小糖人传媒，任联合创始人兼CEO。此前任中国文化产业投资基金投资经理、内容领域首席专家，长期从事文化产 业投资与研究。本科毕业于北京电影学院导演系，研究生毕业于美国哥伦比亚大学，获国际经济与金融硕士学位。 这篇文章想了很久，写得很快。 起因是一个具体的困惑：我 从电影学院导演系入行，做了快 二十年影视 —— 做过文娱产业投资、创办了影视公司、 制片、写剧本、 盯现场 盯 ...

近日，快手公益基金会与香港善导会达成合作。双方将围绕香港大埔区火灾相关的灾后支持需求，聚 焦"心理服务、社工发展、学术研讨"三大方向开展系统化、长期性协作，共同探索更具韧性、可持续、 可复制的城市灾后支持服务模式。 公开资料显示，快手公益基金会长期关注青少年教育、困难家庭帮扶及灾害应急救助等领域，持续推 动"短视频+直播"与公益慈善事业的深度融合。香港善导会成立于1957年，长期倡导社会共融，并为有 需要群体提供多元化社会服务与支持。 据悉，本次合作将重点推进三项工作：一是建立面向受灾群众的"常态化心理健康支持配套"，推动心理 援助从阶段性介入走向持续性陪伴；二是启动"一线工作人员支持计划"，面向参与大埔区火灾救援与善 后工作的非官方救援人员提供持续支持与发展赋能，强化城市基层服务韧性；三是共同筹办"城市灾害 治理国际研讨会"，围绕城市灾害治理与灾后支持体系建设开展学术共建与经验交流。 快手科技副总裁、快手公益基金会理事长宋婷婷表示："快手公益在多次应急救灾实践中形成了'信息触 达+资源协同+灾后恢复'的工作路径，既做紧急救援，也把工作延伸到灾后恢复与心理重建。此次与香 港善导会合作，我们将把应急救灾经验与在 ...

Key Points - A car company faced issues with employees' computers being remotely controlled, leading to software deletions, with speculation linking it to the "养龙虾" AI tool, although no evidence supports this claim [4][5] - Apple addressed concerns about individuals profiting from returning iPhones after screen replacements, stating that returned products undergo inspection to ensure they are undamaged [8][9] - Tencent launched SkillHub, a local mirror site for ClawHub, and clarified its intentions to support the ecosystem while addressing accusations of data scraping [10] - Liang Wenfeng's DeepSeek V4 is set to launch in April, focusing on improvements in coding capabilities and long-term memory, while Tencent's Yao Shunyu is also expected to release a new model [11][12] - Cambricon announced a cash dividend of 632 million yuan, with a significant increase in revenue and a return to profitability [12][13] - Baidu's RoboSense is set to implement high-line laser radar in its autonomous driving service, indicating a shift towards advanced sensor technology in the industry [14][15] - BYD is conducting a large-scale recruitment drive, seeking over 2,000 workers with competitive salaries, reflecting its expanding production capacity [16] - Kuaishou is ramping up recruitment for AI-related positions, indicating a growing demand for talent in the generative AI space [17] - Li Auto aims for over 20% sales growth in 2026, with plans to launch new models and enhance its sales management strategy [18] - Xiaomi's new SU7 model is expected to have a production capacity of 16,000 units in March, highlighting the company's focus on electric vehicles [19] - Stellantis is exploring partnerships with Chinese companies to restructure its European operations, potentially allowing for Chinese investment in its brands [34][35] - Apple's iPhone Fold is entering mass production, with significant orders for memory chips despite rising costs, indicating strong market confidence [36] - AMD's CEO is visiting South Korea to secure semiconductor supply chains, emphasizing the importance of partnerships in the competitive AI infrastructure market [37] - Google's Project Genie, aimed at generative AI for gaming, has limitations and is not yet capable of fully developing video games, clarifying misconceptions in the industry [38][39]

校对 杨利 编辑 杨娟娟 新京报贝壳财经讯（记者韦英姿）3月12日，快手宣布启动2026年春季校园招聘。快手方面表示，本次 春招面向两类校园人才同步开放，包括2026届应届毕业生补录和2027届实习生招聘；与此同时，面向顶 尖校园人才的快Star-X实习项目也正式启动，进一步加大对高潜青年人才，尤其是技术创新人才的吸引 力度。 新京报贝壳财经记者了解到，快手2026年春季校园招聘共开放超200个岗位类型，覆盖算法、工程、产 品、运营、游戏、设计、市场、销售、战略分析、项目管理及职能等多个方向，其中技术类岗位为本轮 招聘重点，大模型相关岗位需求数量翻倍。围绕大模型、生成式AI、多模态理解与创作、推荐系统等 核心领域，快手正持续释放研发与创新岗位需求。 ...

Core Insights - Kuaishou has officially launched its 2026 spring campus recruitment, targeting both 2026 graduates and 2027 interns, with a focus on attracting high-potential talent, especially in technology innovation [1][2] Recruitment Overview - The spring recruitment offers over 200 job types across various fields including algorithms, engineering, product, operations, gaming, design, marketing, sales, strategic analysis, project management, and functional roles, with a particular emphasis on technical positions [1] - The demand for positions related to large models has doubled, reflecting Kuaishou's ongoing commitment to AI capability development and innovation [1] Fast-Track Programs - The Kuaishou Star-X internship program is aimed at top global technical talent, focusing on engineering and algorithm roles, and will have continuous recruitment throughout the year [2] - Participants in the Star-X program may receive competitive compensation and opportunities to tackle world-class technical challenges [2] Growth and Support - Kuaishou provides a comprehensive growth and support system for new hires, including a "3+1" training system, dedicated mentorship, housing subsidies, and various benefits [2] - Data indicates that 94.2% of new hires achieve a promotion within two years, with the fastest promotion occurring as early as 44 days after joining [2] Strategic Focus - Kuaishou aims to attract more exceptional talent to accelerate growth and unleash potential in a broader range of business scenarios driven by AI [3]