选择"反向春运"的旅客大多为首次搭乘飞机的银发族，他们常常在值机、托运、寻路等环节遇到困扰。 对此，美团旅行近日联动国航等多家航司推出"父母出行安心护航"计划，为55岁及以上的乘客提供线 上、线下全流程的引导服务，护航银发族出行。 北京商报讯(记者关子辰牛清妍)1月19日，记者从美团获悉，"反向春运"趋势越发显著，不少家庭的春 节团聚模式，已从传统的"子女返乡"转变为"父母奔赴子女工作地过年"。美团旅行数据显示，1月以 来，这类"反向春运"机票的预订量增速明显，同比增长约35%。从预订情况看，热门出发地主要包括郑 州、武汉、西安、长沙、成都、哈尔滨、长春等，热门目的地包括北京、上海、广州、深圳、杭州等， 客流呈现出从中西部城市向一线及新一线城市集中流动的趋势。 ...

南向资金今日净买入22.92亿港元，中芯国际、华虹半导体、腾讯控股净买入额位列前三，分别获净买 入4.62亿港元、3.93亿港元、2.73亿港元。净卖出方面，中国移动、优必选、美团-W分别遭净卖出6.00 亿港元、5.17亿港元、2.87亿港元。 ...

Core Insights - Morgan Stanley's report on Chinese tech stocks presents an optimistic outlook for AI development by 2026, driven by both supply and demand factors [1] - The overseas expansion of internet companies is highlighted as a crucial strategy to address macroeconomic, competitive, regulatory, and geopolitical risks [1] Company Preferences - The report lists preferred stocks with an "overweight" rating, including Tencent, Alibaba, Pinduoduo, Tencent Music, NetEase, BOSS Zhipin, Manbang, Meituan, Trip.com, Tongcheng Travel, TAL Education, and Beike [1]

在养老行业历经十余年发展后，养老机构的线上化正获得越来越多资本的关注。 过去多年，养老服务机构的宣传推广更多集中于线下的口碑传播，四处奔波寻找合适的养老机构，成为 许多老人家属都曾遇到的窘境。由于潜在用户和养老机构之间的信息壁垒，养老行业甚至演变出"养老 中介"这一扮演"掮客"角色的职业。 线上养老服务订单倍增 自2013年被纳入政府指定的居家护理服务商名录后，福寿康就主要承接来自政府部门的长护险订单，即 为纳入各地医保部门长护险服务计划的老年人，提供居家医疗、护理、助浴等养老服务。2023年，福寿 康选择拓展C端（个人端）用户后，此举取得了意想不到的经营效果。 梁博文表示，长期以来，政府部门的长护险业务约占集团营收的90%。但过去几年，随着中国老龄化程 度快速加深，集团认为长护险业务只能解决部分老人的部分需求，因此必须拓展市场空间更大的C端业 务。而线上化渠道，成为扩大知名度和C端业务量的关键一步。 2023年起，福寿康逐渐布局抖音、快手、小红书、百度地图、微信视频号等一系列线上化平台。2024 年，在美团拓展养老类目后，福寿康成为受益者，仅用半年时间内就跻身美团养老类目的第一名。 在北京城区，每给养老机构 ...

华泰证券则表示"（港股）情绪指标当前已经脱离恐慌区间，且空头比例明显下行，目前已到右侧收获 期"，同时指出港股"一季度市场反弹的核心因素并未发生根本变化"，包括：金融条件整体偏宽松、外 资和南向共振回流、盈利预期上修、AH比价下港股性价比再度凸显等。 中金公司指出："港股去年10月后偏弱因素有三：一是港股特色结构都不是焦点；二是资金面处于弱势 （美债利率居高不下，南向资金偏弱，港股IPO节奏加快）；三是更多反映基本面走弱。"但上述因素 到2026年，都将迎来转机。中金认为，短期看，"是否会因赛道降温将关注点推向港股、小盘价值甚至 大盘成长"。 在市场对港股反弹尚未形成共识时，部分聪明资金已逢低布局： 近日，不少机构建议关注港股成长板块，在本轮上涨中涨幅相对较少，若有合适的回撤买入机会，是不 错的介入时机。 财通证券看好恒生互联网的胜率，当前利多因素包括"平台经济支持+受益放权给企业，AI方面仍有潜 在催化，叠加两国关系进一步改善+人民币升值被动外资流入"。 1）外资方面，截至上周三，EPFR口径下外资净流入港股28.2亿美元（vs 前一周净流入15.4亿美元）， 其中主动型外资转为净流入1.6亿美元，创202 ...

然而，这场资本盛宴的膨胀速度与随后的市场收缩同样迅猛。社区团购的迅猛发展引发了监管关注。2020年12月，国家市场监管总局联合商务部推出"九 个不得"新规，明确要求互联网平台企业不得通过低价倾销、达成垄断协议、掠夺性定价等危害公平竞争市场。 这一监管重拳成为行业转折点。 自2021年起，泡沫开始破裂，倒闭潮席卷而来：同程生活申请破产，食享会转型零食赛道，橙心优选收缩关城，京喜拼拼与十荟团也大幅缩减业务。在随 后的两年内，行业洗牌以惊人的速度完成：滴滴橙心优选率先全面退出，京东的京喜拼拼逐渐边缘化，阿里淘菜菜与美团优选大幅收缩区域布局，众多创 业公司则被迫停止全国扩张，回归区域经营或黯然离场。 为什么不行了？ 事实上，社区团购自诞生以来，其商业模式就面临盈利困难的根本性质疑。在行业初期，互联网巨头依赖"大量烧钱"和"不计成本地补贴"来抢占市场，通 过"一分钱秒杀"等低于成本价的倾销行为培养用户习惯，但这种"赔本赚吆喝"的模式始终无法解决盈利问题。尤其是生鲜品类作为主营，其高损耗、低毛 利的特点进一步加剧了盈利压力。当资本补贴退潮后，平台难以找到可持续的盈利模式，导致长期亏损，最终被验证为"无法带来预期的增长和利 ...

Group 1: OpenAI and Advertising - OpenAI announced the introduction of advertising in the free version and entry-level subscription tier of ChatGPT, starting with adult users in the U.S. in the coming weeks [2] - The ChatGPT Go subscription service has launched in all regions supporting ChatGPT, offering enhanced features such as using the GPT-5.2 Instant model and increased message and file upload limits [2] - OpenAI emphasizes that advertising will not interfere with the objectivity of responses and aims to diversify revenue streams while enhancing AI accessibility [2] Group 2: Apple Trade-In Program - Apple has updated its trade-in program to include devices from Huawei and Xiaomi, allowing customers to trade in these brands for discounts on new purchases [3] - The maximum trade-in values include up to 5,800 yuan for the iPhone 16 Pro Max and 6,050 yuan for the MacBook Pro [3] - The "Yearly Renewal Plan" allows consumers to upgrade their devices within a specified period at a discount of at least 50% of the original purchase price [3] Group 3: Tesla AI Chip Development - Tesla CEO Elon Musk announced that the design of the AI5 chip is nearing completion, with the AI6 chip in early development stages [4] - Future plans include the development of AI7, AI8, and AI9 chips, with a target design cycle of nine months [4] - Musk highlighted the strength of Tesla's AI team, stating that these chips aim to become the highest-volume AI chips globally [4] Group 4: Meituan's Open Source Model - Meituan's LongCat team released the upgraded open-source model LongCat-Flash-Thinking-2601, achieving state-of-the-art performance in key evaluation benchmarks [5] - The model excels in tool invocation and interaction reasoning, significantly reducing training costs for adapting new tools [5] - It is the first fully open-source model supporting online free experience in the rethinking mode, ensuring comprehensive decision-making in complex tasks [5] Group 5: SpaceX and Falcon 9 Launch - SpaceX successfully launched the Falcon 9 rocket, completing its 600th mission by placing the NROL-105 satellite into orbit [8] Group 6: Commercial Space Ventures in China - Beijing Chuanweizhe's CYZ1 manned spacecraft completed a successful verification test of its landing buffer system, marking a significant milestone in China's commercial space sector [9] - This project is the first full-size test of landing buffer technology for a manned spacecraft in China's commercial space industry [9] Group 7: Investment Activities - Xiangzhong Technology plans to invest 50 million yuan in Zhejiang Hexin Integrated Circuit Co., acquiring a 2.27% stake, focusing on advanced packaging and testing in the integrated circuit sector [10] - Mianbao Optoelectronics is planning to acquire 100% of Xiamen Xizhi Precision Technology and Jiangxi Maida Intelligent Technology, focusing on micro-drilling technology for PCB manufacturing [10] - Yanjing Co. intends to purchase 98.54% of Yongqiang Technology, expanding its business into high-end electronic interconnect materials for integrated circuits [11]

Group 1: Internet Company Revenue and Profit - JD.com leads the revenue chart with 956.8 billion, followed by Alibaba at 731.9 billion and Tencent at 557.4 billion [1] - Alibaba's net profit stands at 76.5 billion, significantly higher than JD.com's 22.3 billion, while Tencent shows a strong profit of 166.6 billion [1] - The profit margin for Tencent is notably high at 30.63%, compared to Alibaba's 10.45% and JD.com's 2.33% [1] Group 2: Market Trends and Insights - The data indicates a competitive landscape among major internet companies, with varying revenue and profit margins suggesting different business strategies and operational efficiencies [1] - The significant profit margins of Tencent may indicate a focus on high-margin services, while JD.com and Alibaba are still scaling their operations [1] Group 3: Financial Performance Overview - The overall financial performance of the top internet companies reflects a diverse range of growth strategies, with some companies prioritizing revenue growth while others focus on profitability [1] - The financial results for the third quarter of 2025 highlight the ongoing evolution of the internet sector in China, with implications for future investment opportunities [1]

智通财经APP获悉，根据2026年1月16日披露数据，中国电信（00728）、绿色动力环保（01330）、凯 盛新能（01108）位居港股通持股比例前3位，分别为71.06%、69.52%、67.54%。此外，腾讯控股 （00700）、快手-W（01024）、阿里巴巴－W（09988）在最近有统计数据的5个交易日内，持股额增 幅最大，分别为+46.95亿元、+27.09亿元、+24.49亿元;中国移动（00941）、中芯国际（00981）、美 团-W（03690）在最近有统计数据的5个交易日内，持股额减幅最大，分别为-24.84亿元、-11.19亿 元、-9.48亿元。 具体数据如下（交易所数据根据T+2日结算）： 1、港股通最新持股比例排行（前20名） | 公司名称 | 持股数量 | 最新持股比例 | | --- | --- | --- | | 中国电信(00728) | 98.62亿股 | 71.06% | | 绿色动力环保(01330) | 2.81亿股 | 69.52% | | 凯盛新能(01108) | 1.69亿股 | 67.54% | | 天津创业环保股份(01065) | 2.30亿股 | 6 ...

智通财经APP获悉，友邦保险-R(81299)、安踏体育-R(82020)、京东健康-R(86618)上一交易日沽空比率 位于前三位，分别为100.00%、100.00%、100.00%。阿里巴巴-W(09988)、泡泡玛特(09992)、小米集团- W(01810)的沽空金额位居前三，分别为19.51 亿元、14.69 亿元、14.06 亿元。中国平安-R(82318)、腾讯 控股-R(80700)、友邦保险-R(81299)的偏离值位居前三，分别为61.20%、48.74%、34.93%。 | 股票名称 | 沽空金额↓ | 沽空比率 | 偏离值 | | --- | --- | --- | --- | | 阿里巴巴-W(09988) | 19.51 亿元 | 14.77% | 0.58% | | 泡泡玛特(09992) | 14.69 亿元 | 24.66% | 0.25% | | 小米集团-W(01810) | 14.06 亿元 | 19.02% | -1.96% | | 腾讯控股(00700) | 9.55 亿元 | 7.50% | -3.65% | | 美团-W(03690) | 5.28 亿元 | ...