每经北京8月8日电（记者王郁彪） 《每日经济新闻》记者从快手方面了解到，快手本地生活近日在"团 购"页面上线了独立"外卖"入口。用户点击"外卖"进入页面下单，选择"在线点单"后跳转至第三方小程 序，由第三方提供人力配送。快手还表示，当前快手"外卖"中的商品以第三方合作共建为主，集中推介 优质餐饮商品，后续将覆盖更多商家及品类。其给出的一组数据显示，今年二季度，快手本地外卖商品 支付用户数环比增长超3倍。 每经记者｜王郁彪 每经编辑｜陈俊杰 ...

Group 1 - The core viewpoint of the report is that Kuaishou's daily active users are projected to exceed 300 million by July 2024, with heavy user growth of 55.3% year-on-year and an average daily viewing time increase of 44% [1] - The number of paid users is expected to increase fourfold from January to December 2024, with a concentration of users in cities like Tianjin, Harbin, and Shijiazhuang [1] - The user demographic for Kuaishou short dramas is predominantly middle-aged men, with 51.8% of users being Kuaishou Xingmang short drama users and 59.5% being over 30 years old [3] Group 2 - Among in-app purchase (IAP) users, the male-to-female ratio is 62% to 38%, with 69.4% of users being under 40 years old; for in-app advertising (IAA) users, the ratio is 46.3% to 53.7%, with 54% being over 40 years old, indicating a trend towards older female users [5] - By February 2025, Kuaishou's short drama content consumption center has uploaded over 53,000 new dramas, with the number of IAP and IAA authors increasing 61 times year-on-year [8] - The report identifies eight mainstream themes for Kuaishou Xingmang short dramas in 2024, with urban themes seeing an 18 percentage point increase year-on-year, while romance themes decreased from 34.76% to 24.24%; fantasy themes experienced a significant growth of 325% [11]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The release of the GPT-5 model by OpenAI marks a significant enhancement in performance compared to its predecessor, with notable improvements in programming capabilities and various fields such as mathematics and health [5][6] - The reduction in hallucination rates and significant price drops for the GPT-5 model are expected to promote the commercialization of AI applications [7] - The report maintains a strong outlook for the rise of the AI Agent industry in 2025, highlighting potential beneficiaries in the AI programming and multimodal sectors [8] Summary by Sections Industry Trends - The industry is experiencing a positive trend with a projected increase in AI applications, particularly following the advancements brought by GPT-5 [1][5] Model Performance - GPT-5 shows a remarkable performance increase, especially in programming, achieving a score of 74.9% in SWE-bench Verified tests, surpassing previous models [6] - In various tests, GPT-5 has set new benchmarks in mathematics, multimodal understanding, and health, indicating its advanced capabilities [6] Market Impact - The significant reduction in the cost of using GPT-5, with input and output prices at $1.25 and $10 per million tokens respectively, is expected to enhance market penetration and application deployment [7] - The report identifies several companies as potential beneficiaries of the AI application boom, including Wanxing Technology, Meitu, and Kuaishou, among others [8]

Market Performance - As of August 8, 2025, the CSI Hong Kong Internet Index (931637) decreased by 1.33% with mixed performance among constituent stocks [3] - Leading gainers included Dongfang Zhenxuan (01797) up 7.38%, and Lion Group Holdings (02562) up 3.19%, while leading decliners were Qutoutiao (00917) down 6.40% and Kingsoft Cloud (03896) down 5.10% [3] - The Hong Kong Internet ETF (159568) fell by 1.10%, currently priced at 1.8 yuan, but has seen a 0.55% increase over the past week [3] Liquidity and Trading Activity - The Hong Kong Internet ETF had a turnover rate of 19.46% with a trading volume of 62.965 million yuan, indicating active market participation [3] - Over the past year, the average daily trading volume of the Hong Kong Internet ETF was 187 million yuan [3] User Engagement and Ecosystem - Bilibili's user ecosystem is thriving, with 368 million monthly active users and 107 million daily active users as of Q1 2025 [3] - The platform has 32 million monthly paying users and an average daily usage time of 108 minutes, with a 70% penetration rate among Gen Z users [3] ETF Performance Metrics - As of August 7, 2025, the Hong Kong Internet ETF has seen a net value increase of 72.24% over the past year, ranking 138 out of 2949 in the index fund category [5] - The ETF's highest monthly return since inception was 30.31%, with a longest consecutive monthly gain of 3 months and an average monthly return of 8.62% [5] Risk and Fee Structure - The management fee for the Hong Kong Internet ETF is 0.50% and the custody fee is 0.10%, which are among the lowest in comparable funds [7] - The ETF's tracking error over the past three months was 0.050%, indicating high tracking precision compared to similar funds [7] Valuation Insights - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the Hong Kong Internet ETF is 23.8, which is below the 80.03% historical average over the past five years, suggesting a low valuation [7] - The CSI Hong Kong Internet Index consists of 30 publicly listed companies related to internet businesses, reflecting the overall performance of internet-themed stocks within the Hong Kong Stock Connect [7][8]

每经AI快讯，8月8日，港股科网股走低，哔哩哔哩(09626.HK)跌超3%，快手(01024.HK)、阿里巴巴 (09988.HK)跌1.6%，百度(09888.HK)、腾讯控股(00700.HK)、网易(09999.HK)均跌超1%。 ...

Group 1 - The top three stocks with net inflow of southbound funds are Yingfu Fund (02800) with 6.292 billion, Hang Seng China Enterprises (02828) with 1.618 billion, and Southern Hang Seng Technology (03033) with 0.956 billion [1] - The top three stocks with net outflow of southbound funds are China Mobile (00941) with -0.289 billion, Jitu Express-W (01519) with -0.185 billion, and Horizon Robotics-W (09660) with -0.152 billion [1] - In terms of net inflow ratio, Anjii Food (02648), Pacific Shipping (02343), and Yuehai Investment (00270) lead the market with 55.07%, 54.09%, and 53.58% respectively [1] Group 2 - The top ten stocks with the highest net inflow include Yingfu Fund (02800) at 6.292 billion, Hang Seng China Enterprises (02828) at 1.618 billion, and Southern Hang Seng Technology (03033) at 0.956 billion [2] - The top ten stocks with the highest net outflow include China Mobile (00941) at -0.289 billion, Jitu Express-W (01519) at -0.185 billion, and Horizon Robotics-W (09660) at -0.152 billion [2] - The top three stocks with the highest net inflow ratio are Anjii Food (02648) at 55.07%, Pacific Shipping (02343) at 54.09%, and Yuehai Investment (00270) at 53.58% [3]

瑞银发表研究报告指，据快手统计，每年公司全球用于影片内容制作的开支约为1200亿美元，其中包括 电影或剧集、广告、短片等。该行预期，genAI将为视讯制作市场带来极大转变。该行相信，这个估计 达110亿至230亿美元的全球影片genAI TAM，将成为公司国内业务一个明显的增长市场，并相信这将为 公司提供第二个增长轨迹。该行将快手目标价由83.4港元上调至95.37港元，维持"买入"评级。 ...

在青海省果洛州久治县哇塞乡民族寄宿制小学的校园里，洋溢着孩子们对未知世界的好奇与憧憬。近日，24 名师生踏上了前往北京的旅程，参与由快手公益基金会举办的2025年"启智未来学堂"科技AI夏令营。这不仅 仅是一次简单的旅行，更是为这些来自牧区的孩子们打开了一扇通往科技世界的大门。 央金卓玛和她的同学们，大多数来自困难家庭，他们的生活与牧场紧密相连，对科技的认知仅限于课本上的 文字。而这次夏令营，为他们提供了一个难得的机会，亲身体验前沿科技，感受科技的力量。 本次夏令营以"科技AI研学"为主题，旨在通过一系列实操性的课程和体验活动，让这些乡村青少年儿童有机 会接触并了解人工智能等前沿科技。行程中，孩子们不仅走进了科技公司，近距离感受AI技术的魅力，还参 与了丰富多彩的科技实践活动。 此次夏令营不仅为孩子们提供了一次难得的体验机会，更为他们的未来成长注入了新的动力。快手公益基金 会通过"启智未来学堂"项目，持续关注乡村儿童的教育问题，希望通过科技的力量助力他们健康成长，勇敢 追寻自己的梦想。 随后，孩子们在快手工程师的指导下，用可灵AI将自己的画作变成了生动的故事。他们想象着"小狗在海里 唱歌""大象在雪山睡觉"的 ...

Core Insights - The article highlights the net inflow and outflow of funds in the Hong Kong stock market, with Alibaba-W, Kuaishou-W, and Meituan-W leading in net inflows, while Yingfu Fund, Hang Seng China Enterprises, and Southern Hang Seng Technology experienced the highest net outflows [1][2]. Net Inflow Summary - Alibaba-W (09988) recorded a net inflow of 727 million, representing a 12.42% increase in net inflow ratio [2]. - Kuaishou-W (01024) saw a net inflow of 609 million, with a net inflow ratio of 18.27% [2]. - Meituan-W (03690) had a net inflow of 544 million, with a net inflow ratio of 12.86% [2]. - Other notable net inflows include China Shenhua (01088) with 496 million (29.48%) and InnoCare Pharma (02577) with 390 million (8.24%) [2]. Net Outflow Summary - Yingfu Fund (02800) experienced the largest net outflow of 13.767 billion, with a net outflow ratio of -43.25% [2]. - Hang Seng China Enterprises (02828) had a net outflow of 6.326 billion, with a net outflow ratio of -60.55% [2]. - Southern Hang Seng Technology (03033) recorded a net outflow of 1.648 billion, with a net outflow ratio of -18.63% [2]. - Other significant net outflows include China Mobile (00941) with 843 million (-46.52%) and Kangfang Biotech (09926) with 413 million (-21.09%) [2]. Net Inflow Ratio Summary - Prudential (02378) led the net inflow ratio with 67.02%, followed by Anjuke Food (02648) at 58.47% and TCL Electronics (01070) at 52.06% [2][3]. - Additional companies with high net inflow ratios include Anhui Wanshan Expressway at 51.91% and GX Hang Seng Technology (02837) at 51.63% [3]. Net Outflow Ratio Summary - The highest net outflow ratio was recorded by E Fund Hang Seng ESG (03039) at -100.00%, followed by China Communication Construction (03969) at -66.38% and Hang Seng China Enterprises (02828) at -60.55% [3]. - Other companies with significant net outflow ratios include Beijing Automotive (01958) at -53.68% and Kangzheng Pharmaceutical (00867) at -53.21% [3].

Core Insights - The emergence of AI-generated content is revolutionizing the video production landscape, as demonstrated by the short film "Kira," which was created with minimal cost and time using various AI tools [2][4][6] - The rapid growth of user engagement and revenue in AI video generation platforms, particularly Kuaishou's Keling, indicates a significant shift in the industry towards AI-assisted content creation [8][17][27] Group 1: AI Video Generation - The short film "Kira" was produced for only $500 and gained significant viewership on platforms like YouTube and Bilibili, showcasing the potential of AI in content creation [2][4] - Hashem AI-Ghaili, the creator of "Kira," utilized multiple AI tools for scriptwriting, image processing, video editing, and sound design, highlighting the collaborative capabilities of AI technologies [4][6] - Keling, a video generation model by Kuaishou, reported an annual recurring revenue (ARR) exceeding $100 million, surpassing competitors like MiniMax, which projected $70 million for 2024 [7][17] Group 2: User Growth and Market Dynamics - Keling's user base grew from 6 million to over 45 million within a year, indicating a strong market demand for AI video generation tools [15][40] - The introduction of features like "multi-image reference" and "motion brush" in Keling has significantly improved user experience and content quality, leading to increased user retention and satisfaction [11][15][28] - The competitive landscape is intensifying, with companies like ByteDance and Google entering the market, indicating a broader acceptance and investment in AI video generation technologies [23][43] Group 3: Technological Advancements - Keling's development of a multi-modal visual language (MVL) allows users to interact with the model using various inputs, enhancing the creative process [15][38] - The introduction of features aimed at improving controllability and consistency in video generation, such as "first and last frame" functionality, has been well-received by creators [11][35] - The industry is witnessing a shift from skepticism to embracing AI tools, as evidenced by the integration of AI in traditional media workflows and the emergence of new job roles related to AI content creation [42][43]