格隆汇1月27日｜美团旅行数据显示，2026年春运期间，"反向过年"的车票预订量增长明显。2月初至2 月中下旬，"反向过年"的机票预订量同比去年增长84%。春节假期的火车票虽未开售，预约单量也增长 过半。从机票的预订情况看，"反向过年"Top10热门目的地为北京、上海、成都、重庆、广州、深圳、 昆明、西安、杭州、天津。 ...

复盘20家互联网公司2025年Q3广告营收财报数据，Morketing发现，中国互联网广告已从"增量抢流量"的野蛮生长时代，迈入"存量挖效率"的精细化对 决。平台增长的核心锚点也不再是流量多寡，而是技术缩短转化链路、提升单客价值的硬实力。 这场分化洗礼，正写下一条不容置疑的新规则：技术定效能，效能定营收，生态定格局。 | | 居昌 | 公司名 | 25Q1广告营收 | 25Q2广告营收 | 25Q3广告营收 | 24Q3广告营收 | 同比增长 | 备注 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (1乙元) | (亿元) | (亿元) | (1乙元) | (%) | | | 客户管理收入 | 1 | 阿里巴尼 | 710.77 | 892.52 | 789.27 | 703.64 | 10 | | | 包括在线营销服务及其他业务的收入 | 2 | #33 | 487.22 | 557.03 | 533.48 | 493.51 | 8 | | | 此项为营销服务 | 3 | 腾讯 | 319 | 358 | 362 | 29 ...

本文源自：市场资讯 国家知识产权局信息显示，北京三快在线科技有限公司取得一项名为"出入口标注和路线规划方法、装 置、介质及电子设备"的专利，授权公告号CN113360787B，申请日期为2020年3月。 天眼查资料显示，北京三快在线科技有限公司，成立于2011年，位于北京市，是一家以从事互联网和相 关服务为主的企业。企业注册资本504577万美元。通过天眼查大数据分析，北京三快在线科技有限公司 共对外投资了10家企业，参与招投标项目303次，财产线索方面有商标信息12条，专利信息5000条，此 外企业还拥有行政许可35个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 作者：情报员 ...

华润啤酒-R(80291)、安踏体育-R(82020)、李宁-R(82331)上一交易日沽空比率位于前三位，分别为 100.00%、100.00%、100.00%。泡泡玛特(09992)、小米集团-W(01810)、阿里巴巴-W(09988)的沽空金额 位居前三，分别为12.09 亿元、10.75 亿元、9.74 亿元。中国中车(01766)、李宁-R(82331)、中国平安- R(82318)的偏离值位居前三，分别为42.51%、38.82%、30.07%。 前十大沽空比率排行 | 股票名称 | 沽空金额 | 沽空比率↓ | 偏离值 | | --- | --- | --- | --- | | 华润啤酒-R(80291) | 19.28 万元 | 100.00% | 25.37% | | 安踏体育-R(82020) | 9.50 万元 | 100.00% | 12.50% | | 李宁-R(82331) | 10.09 万元 | 100.00% | 38.82% | | 联想集团-R(80992) | 456.22 万元 | 82.43% | 2.97% | | 中国平安-R(82318) | 397.47 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,752.51, down by 13.01 points or 0.05% as of January 26, 16:00 Eastern Time [1] - The index reached a high of 26,826.45 and a low of 26,622.25 during the trading session, with a trading volume of 35.7947 million [1] - The 52-week high for the index is 27,275.90, while the 52-week low is 19,335.70, indicating a trading range of 0.76% [1] Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 132.695, up by 1.29% compared to the Hong Kong market close [2] - Tencent Holdings closed at HKD 600.708, reflecting a slight increase of 0.2% from the Hong Kong market close [2] - Alibaba Group (BABA) saw a decline of 1.96%, closing at HKD 165.200 [3] - Xiaomi Group (01810) decreased by 2.81%, closing at HKD 35.220 [3] - AIA Group (01299) remained unchanged at HKD 83.050 [3] Notable Stock Movements - New World Development (00016) experienced a significant increase of 3.93%, closing at HKD 119.000 [3] - Kuaishou Technology (01024) fell by 3.26%, closing at HKD 78.600 [3] - JD.com (09618) rose by 1.05%, closing at HKD 116.000 [3] - Ctrip Group (09961) increased by 1.40%, closing at HKD 492.200 [3]

好福利App界面 近日，平安健康深化与美团、叮当快药等平台合作，"闪电送药 服务"已陆续上线中国平安旗下平安健 康App、好福利App、平安乐健康App。据悉，本次平安健康药品服务网络焕新升级，是以供应链整合 与数据互通为抓手，旨在优化购药体验与服务时效，推动"健康+保险+医药"一体化服务闭环建设，为公 司"到线、到院、到家、到企"的四到服务网络筑牢根基。 强强联合 打造极速响应的药品服务体系 作为平安集团医疗养老生态圈旗舰，平安健康依托集团综合金融与科技生态优势，持续深耕优质、便捷 的医疗健康养老服务建设。此次与美团、叮当快药的深度协同，在供给端可覆盖全国海量线下药店及智 能化仓储 资源，实现平台可供应药品的大幅扩充，强化覆盖常见病药及慢性病用药供给能力，实现核 心药品品类"应有尽有"。在时效端，借力第三方即时配送与全域物流能力，可构建多层级配送网络，围 绕精准匹配急用药、慢病续方等场景，让购药服务更便捷。 在服务体验端，平安健康更依托自有专业医生团队，整合多个合作伙伴优势互补，可为用户提供7×24 小时在线咨询与用药建议，并打通从药品搜索、在线问诊、智能用药指导、商保支付到高效配送的全流 程服务链路，构建 ...

Group 1: Hang Seng Index (HSI) - The Hang Seng Index (HSI) showed a slight upward movement on January 23, closing with an increase of approximately 100 points, indicating a neutral short-term trend with mixed market sentiment [1] - Current technical signals for HSI are neutral, with the index fluctuating around 26,700 points and a resistance level at approximately 27,100 points, while support levels are at 26,200 points and 25,800 points [1] - Investors are divided, with bullish investors holding call warrants with recovery prices of 25,788 and 26,428, while bearish investors are planning to buy put warrants with a recovery price of 26,900 [1] Group 2: Meituan-W (03690.HK) - Meituan-W's stock price has been weak, with a slight increase on January 23, closing at 97.5 HKD, while trading volume increased compared to the previous day [7] - Current technical signals show a predominance of buy signals, totaling 10, with resistance levels at 101.8 HKD and 105 HKD [7] - Investors are advised to avoid out-of-the-money products and consider near-the-money call warrants with exercise prices around 99-100 HKD, expiring in April 2025 [7] Group 3: Trip.com Group (09961.HK) - Trip.com Group's stock price has gradually recovered from a low of 446 HKD, closing at 485.4 HKD on January 23, although trading volume has decreased during this upward movement [13] - The current technical signals indicate a majority of buy signals, with 9 buy signals and 5 sell signals [13] - Investors are recommended to choose bull warrants with recovery prices between 382 and 457 HKD to mitigate risks [13] Group 4: Ganfeng Lithium (01772.HK) - Ganfeng Lithium's stock price reached 70 HKD on January 23, breaking through the upper band of the Bollinger Bands, with increased trading volume [19] - The technical signals currently show a predominance of sell signals, with 10 sell signals and 4 buy signals, suggesting caution for bullish investors [19] - Investors interested in put warrants are advised to wait for more suitable products to be issued due to limited options currently available [19] Group 5: Zhaojin Mining (01818.HK) - Zhaojin Mining's stock price slightly increased to 38.6 HKD on January 23, influenced by rising gold prices, but the market sentiment remains cautious [25] - Current support is around 35.5 HKD, with a resistance level at 41.4 HKD, which needs to be broken for further upward movement [25] - Investors should wait for confirmation of a breakout above the resistance level before making further investment decisions [25] Group 6: Xiaomi Group-W (01810.HK) - Xiaomi Group-W's stock price has been on a downward trend, with a slight increase to 36.2 HKD on January 23, accompanied by increased trading volume [30] - Current technical signals show a slight majority of buy signals, but the stock lacks momentum to surpass 50 HKD in the short term [30] - Investors are advised to avoid out-of-the-money products and consider near-the-money call warrants with leverage around 3 times, which are more suitable for current market conditions [30]

Investment Rating - The industry investment rating is "Buy" [2] Core Insights - The report indicates a decrease in the heavy allocation ratio of A-share media stocks by public funds, with a concentration decline [4] - The report highlights a shift in fund allocation towards the news publishing sector, while gaming and advertising sectors saw reductions [4] - The report suggests continued focus on segments with favorable market conditions and AI industry logic, particularly in gaming and IP derivatives [4] Summary by Sections A-share Media Fund Heavy Allocation Ratio Decline - In Q4 2025, the heavy allocation ratio for A-share media stocks was 1.32%, down from 2.56% in Q3 2025, a decrease of 1.24 percentage points [13] - For A+H shares, the allocation ratio was 4.41%, down from 5.99%, a decrease of 1.58 percentage points [13] Changes in Fund Allocation by Sector - The gaming sector's allocation decreased from 67.34% in Q3 2025 to 65.20% in Q4 2025, a drop of 2.14 percentage points [27] - The advertising sector's allocation fell from 24.35% to 22.41%, a decrease of 1.94 percentage points [27] - The news publishing sector saw an increase in allocation from 1.93% to 6.29%, an increase of 4.35 percentage points [27] Concentration of A-share Media Heavy Holdings - The top five heavy holdings in the A-share media sector accounted for 78.48% of the total heavy holdings value, down 6.57 percentage points [42] - The top ten heavy holdings accounted for 88.04%, down 4.93 percentage points [42] Hong Kong Internet Sector Fund Holdings - In Q4 2025, companies like DaMai Entertainment and Meituan-W saw increased holdings, while Kuaishou-W and Pop Mart experienced reductions [4] Investment Recommendations - The report recommends focusing on segments with favorable market conditions and AI applications, particularly in gaming and long video sectors [4]

| 公司名称 | 持股数量 | 最新持股比例 | | --- | --- | --- | | 中国电信(00728) | 98.43亿股 | 70.92% | | 绿色动力环保(01330) | 2.80亿股 | 69.34% | | 凯盛新能(01108) | 1.69亿股 | 67.61% | | 天津创业环保股份(01065) | 2.30亿股 | 67.53% | | 中国神华(01088) | 22.34亿股 | 66.14% | | 大眾公用(01635) | 3.51亿股 | 65.81% | | 南方恆生科技(03033) | 93.69亿股 | 65.62% | | 昊天国际建投(01341) | 72.52亿股 | 65.35% | | 广汽集团(02238) | 17.71亿股 | 62.95% | | 昭衍新药(06127) | 0.75亿股 | 62.72% | | 中远海能(01138) | 8.00亿股 | 61.70% | | 吉宏股份(02603) | 0.41亿股 | 60.42% | | 弘业期货(03678) | 1.49亿股 | 59.57% | | 中州证券(013 ...

骏马迎春，年味十足！1月23日，2026"苏品e齐购 欢聚年货节"暨南京市"四季有约·数享新春"消费季启动仪式在南京金陵天地举行。活动现场，省商务厅 发布2026全省年货节重点活动，围绕即时零售、平台促销、"丝路云品"、消费帮扶、省市联动等五个方面，联动地方、平台企业推出一系列消费者喜闻乐 见的特色活动，南京市商务局发布全市"四季有约·数享新春"消费季活动内容。在春节前后，全市聚力打造"1+5+N"活动体系，聚焦五大重点消费主题，联 动全市各板块、各行业，推出超400场特色促消费活动，进一步浓厚全城促消费氛围。 启动仪式现场。 线下年货节打造五大消费主题 一是"焕新金陵"，加码大宗消费福利；二是"品味金陵"，解锁地道年味；三是"云购金陵"，升级数字消费体验；四是"潮玩金陵"，点燃全城过节热情，组 织全市各板块商场商圈推出一系列精彩纷呈的促消费活动，营造浓厚节日氛围，激发消费市场活力，让无论是本地市民还是外地游客，都能在南京找到属 于自己的新春乐趣。启动仪式现场，金陵天地总经理牟志寰介绍，这次金陵天地年货节现场搭建30余个产品展位，包括苏品苏货、丝路云品、即时零售、 直播电商、AI应用等主题，打造"苏品苏货焕新 ...