前十大沽空偏离值排行 | 股票名称 | 沽空金额 | 沽空比率 | 偏离值↓ | | --- | --- | --- | --- | | 中国平安-R(82318) | 131.03 万元 | 61.40% | 45.98% | | 中国太保(02601) | 19.43 亿元 | 60.79% | 44.30% | | 来凯医药-B(02105) | 8309.80 万元 | 46.44% | 39.82% | | 李宁-R(82331) | 10.77 万元 | 100.00% | 36.92% | | 腾讯控股-R(80700) | 178.54 万元 | 81.60% | 32.53% | | 中国光大银行(06818) | 2123.26 万元 | 48.79% | 32.14% | | 吉利汽车-R(80175) | 54.54 万元 | 74.34% | 30.42% | | 小米集团-WR(81810) | 299.04 万元 | 80.18% | 29.81% | | 比亚迪股份-R(81211) | 220.99 万元 | 91.94% | 25.54% | | 新鸿基地产-R(80016 ...

智通财经APP获悉，9月9日,阿里巴巴-W（09988）、中国平安（02318）、南方恒生科技（03033）南向 资金净流入金额位列市场前三，分别净流入42.34 亿、8.44 亿、4.80 亿 小米集团-W（01810）、美团-W（03690）、康方生物（09926）南向资金净流出金额位列市场前三， 分别净流出-17.33 亿、-8.52 亿、-4.62 亿 | 股票名称 | 净流出(元)↓ | 净流出比 | 收盘价 | | --- | --- | --- | --- | | 小米集团-W(01810) | -17.33 亿 | -17.96% | 56.200（+2.65%） | | 美团-W(03690) | -8.52 亿 | -5.77% | 99.650（-2.30%） | | 康方生物(09926) | -4.62 亿 | -15.64% | 140.100（-1.68%） | | 中国宏桥(01378) | -3.13 亿 | -33.92% | 23.960（-2.60%） | | 荣昌生物(09995) | -2.45 亿 | -13.22% | 104.400（+7.91%） | | 腾 ...

Core Insights - The article discusses the introduction of a Verifiable Step Reward Mechanism (VSRM) aimed at addressing the issue of "overthinking" in models, particularly in mathematical reasoning tasks [6][12][23]. Group 1: Overthinking Problem - The phenomenon of overthinking is characterized by models providing multiple answers to simple problems, leading to incorrect conclusions due to ineffective reasoning steps [10][11]. - A case study highlighted that models often oscillate between correct and incorrect answers, resulting in erroneous final conclusions [10][12]. Group 2: VSRM Introduction - VSRM combines verifiable rewards with step-level rewards to encourage effective reasoning steps while penalizing ineffective ones, thus optimizing the reasoning process [12][20]. - The mechanism is designed to provide clear reward signals for each reasoning step, enhancing the model's ability to discern between effective and ineffective steps [20][23]. Group 3: Experimental Results - Experiments on common benchmarks demonstrated that VSRM significantly reduces output length while maintaining model performance, achieving a balance between efficiency and effectiveness [21][23]. - Ablation studies confirmed the effectiveness of the forward-looking window mechanism within VSRM, showing that it helps maintain exploration capabilities without sacrificing performance [22][23].

Core Viewpoint - The article discusses the launch of the "Gaode Street Ranking" by Gaode Map, which aims to create a more reliable local service evaluation system based on user behavior data and real reviews, directly competing with Meituan's Dazhong Dianping [3][12]. Group 1: Project Development and Launch - In June, a secret team of over 20 members was relocated to Alibaba's headquarters in Hangzhou to develop the Gaode Street Ranking, which was unveiled on September 10, coinciding with Alibaba's 26th anniversary [2][3]. - The Gaode Street Ranking is led by CEO Guo Ning and is based on user behavior data, incorporating the Sesame Credit system to filter out fake reviews, ensuring the ranking's authenticity [3][4]. Group 2: Competitive Landscape - The Gaode Street Ranking directly competes with Meituan's Dazhong Dianping, which has been a dominant player in the local service evaluation market for 22 years [9]. - On the same day as the Gaode Street Ranking's launch, Meituan announced the relaunch of its quality takeaway service, indicating a heightened competitive atmosphere [3][12]. Group 3: Evaluation Mechanism - The Gaode Street Ranking uses navigation behavior data and Sesame Credit scores to create a more dynamic and real-time evaluation system, contrasting with Dazhong Dianping's reliance on user-generated content and static monthly updates [4][5]. - The ranking updates daily based on real-time user behavior, while Dazhong Dianping updates its data monthly and annually [4][5]. Group 4: User Engagement and Market Strategy - Gaode Map aims to transition from being a mere traffic tool to becoming a starting point for consumer spending in local services, leveraging its vast user base of 1.7 billion daily active users [6][9]. - The company has initiated a "Smoke Fire Good Store Support Plan," committing over 1 billion in subsidies to encourage user visits to local businesses, particularly small and medium-sized shops [12][13]. Group 5: Future Outlook and Business Model - Gaode's strategy includes expanding its local service offerings and integrating with partners like Fliggy and Taobao to enhance user experience and drive traffic [19][20]. - The company has achieved profitability for the first time in Q3 2023, indicating a successful pivot towards local services, contrasting with the ongoing losses in its traditional navigation business [19][20].

9月11日，2025世界旅游合作与发展大会于2025年中国国际服务贸易交易会期间在首钢园举办。当前， 数字浪潮席卷全球，旅游业也随之迈入数智化变革的崭新阶段。在此次大会上，来自不同国家重点城市 的市长、国内外业界专家围绕传统旅游业如何破局数智化趋势、数智化促进入境游高质量发展等话题展 开深入交流。此外，会上还发布了《世界旅游目的地竞争潜力指数报告（2025）》和《世界旅游城市发 展报告（2024—2025）》，北京和上海均入选全球前20名竞争潜力城市。 北京入选世界旅游城市发展综合排名前5 会上，亚太旅游协会主席施明德发布了《世界旅游目的地竞争潜力指数报告（2025）》。北京商报记者 获悉，北京、上海入选全球前20名竞争潜力城市，分别排名第5位和第9位。 施明德介绍，具有竞争潜力的城市是指在旅游领域占据领先地位或正迅速崛起的旅游目的地。这类城市 不仅具备强大的游客吸引力与管理能力，还能增强经济韧性，激发创新活力，提升居民生活品质。 谈及北京的入选理由，施明德表示，北京是全球唯一一座既举办过夏季奥运会又举办过冬季奥运会的城 市，还拥有8处联合国教科文组织世界遗产。此外，科技创新正在深刻改变旅游体验。北京已经成功 ...

9月11日，中国饭店协会行业成果发布暨签约活动在服贸会举办。作为2025年服贸会的重要成果，会议 发布《住宿企业ESG管理体系要求》，获商务部认可。美团旅行作为ESG标准起草单位，积极践行ESG 治理，共同发布倡议，并获得标准证书。 中国饭店协会副会长丁志刚表示："住宿餐饮行业是扩大内需、拉动增长、促进消费的重要领域。"针对 新趋势，协会在积极培育新消费市场、提升行业含"绿"量，并以标准化引领高质量转型，促进AI+新消 费发展。 ▲中国饭店协会副会长丁志刚：提升行业含"绿"量，引领高质量转型（图源：中国饭店协会） 丁志刚表示，今天通过服贸会平台链接世界，面向全球分享"中国饭店协会首发首秀的研究成果和合作 项目"，聚焦"降碳、减污、扩绿、增长"，共同践行ESG治理体系，大力发展绿色饭店，协同推动数智 化转型，实现高质量发展。 美团酒店民宿事业部负责人何潇表示："美团旅行积极参与中饭协《住宿业企业 ESG 评价指南》《住宿 业企业 ESG 管理体系要求》标准建设，倡导更多酒店开启'低碳住'。通过科技驱动、行为引导和行业 协同，开创'平台+酒店集团'联合推进 ESG 实践新模式，构建'平台、酒店、用户'三位一体的绿 ...

（文章来源：证券时报网） 深市港股通前十大成交活跃股中，成交额居首的是阿里巴巴-W，成交金额43.57亿港元；其次是中芯国 际、信达生物，成交金额分别为31.32亿港元、25.38亿港元。以净买卖金额统计，有9只股为净买入，净 买入金额最多的是信达生物，净买入8.47亿港元，该股收盘下跌2.51%。净卖出金额最多的是腾讯控 股，净卖出2.29亿港元，收盘股价下跌0.63%。（数据宝） 9月11日港股通成交活跃股 | 代码 | 简称 | 类型 | 成交金额（万港元） | 成交净买入（万港元） | 日涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 09988 | 阿里巴巴-W | 港股通(沪) | 807479.68 | 294622.95 | 0.35 | | 03690 | 美团-W | 港股通(沪) | 618384.12 | -93589.06 | -5.06 | | 00981 | 中芯国际 | 港股通(沪) | 491038.39 | 41745.30 | 4.97 | | 09988 | 阿里巴巴-W | 港股通(深) | 435748.00 | 7 ...

Market Overview - On September 11, the Hang Seng Index fell by 0.43% with a total southbound trading volume of HKD 172.21 billion, including buy transactions of HKD 95.60 billion and sell transactions of HKD 76.61 billion, resulting in a net buy of HKD 18.99 billion [1] Southbound Trading Activity - The southbound trading through Stock Connect (Shenzhen) had a total trading volume of HKD 68.48 billion, with buy transactions of HKD 39.70 billion and sell transactions of HKD 28.78 billion, leading to a net buy of HKD 10.92 billion [1] - The southbound trading through Stock Connect (Shanghai) had a total trading volume of HKD 103.74 billion, with buy transactions of HKD 55.91 billion and sell transactions of HKD 47.83 billion, resulting in a net buy of HKD 8.07 billion [1] Active Stocks - Alibaba-W was the most actively traded stock with a total trading volume of HKD 124.32 billion and a net buy of HKD 37.30 billion, closing with a price increase of 0.35% [1][2] - Other notable stocks included Meituan-W and SMIC, with trading volumes of HKD 84.52 billion and HKD 80.43 billion, respectively [1] - Tencent Holdings had the highest net sell amount of HKD 11.51 billion, closing down by 0.63% [1][2] Continuous Net Buying and Selling - Alibaba-W and SMIC were the only two stocks with continuous net buying for more than three days, with Alibaba-W having a total net buy of HKD 371.43 billion over 15 days and SMIC with HKD 15.76 billion over 3 days [2] - Stocks with continuous net selling included Kangfang Biotech, Tencent Holdings, and Meituan-W, with total net sell amounts of HKD 17.48 billion, HKD 14.61 billion, and HKD 10.28 billion, respectively [2]

2025年，美团的AI产品也进入集中发布期。 以首次亮相的自研"美团小黄蜂"为例，目前，"美团小黄蜂"已在深圳宝安机场、上海互联宝地等地试点 累计配送超1万单，是国内首个在机场管制区实现外卖直达登机口的机器人。 美团副总裁陈荣凯在服贸会论坛演讲时，也重点介绍了美团AI智能家族。他还特别提到了最新发布的 龙猫大模型。龙猫大模型已跻身行业第一阵营，通过一系列架构和训练上的创新，以更低的成本实现了 更快的计算推理和高效的智能体应用。 美团对AI领域的投资和自研都很重视。美团高管曾在2025年初阐述AI策略，一是AI at work，旨在通过 AI技术提升员工工作效率和日常业务运营效率；二是AI in products，打造全新的AI native products，将 用AI改造现有2B和2C端的产品和服务，更好的服务消费者、商家和骑手等客户和伙伴；三是构建内部 大语言模型，美团将持续加大投资，提升自研基座模型能力，为AI应用提供强有力的支撑。 9月10日，在2025年中国国际服务贸易交易会上，不少展商带来了新科技产品，涉及AI的产品品类繁 多。 进入供应链及服务商专题展场馆，首先见到的是美团展位，和一系列AI产品 ...

一份基于用户真实行为、号称"永不商业化"的榜单，正试图成为阿里撬动美团核心腹地的新杠杆。 9月10日，阿里巴巴26周年庆典当天，旗下高德地图正式推出"高德扫街榜"，宣布投入超10亿元补贴启动"烟火好店支持计划"。从媒体报道来看，该项目在 阿里内部保密程度极高，团队在杭州西溪园区C4楼封闭开发，由高德CEO郭宁直接领导。 几乎同一时刻，美团也发起反击。毫无疑问，本地生活赛道正迎来更硝烟弥漫的战争。高德的加入会带来什么变量，什么又是行业真正的变数？ 阿里再到店：高德担纲，尝试以行为数据重构信用体系 阿里对本地生活市场的野心从未熄灭。从2006年注资口碑网，到2015年重启口碑，再到2018年收购饿了么，阿里在本地生活领域屡败屡战。 此次推出高德扫街榜，是阿里再次向到店业务发起冲击。与以往不同，这次选择了高德作为突破口。9月10日，高德扫街榜在高德APP首页位置呈现，打开 扫街榜，用户会看到对应不同类型行为的排行榜，有体现远距离专程前往的"轮胎磨损榜"，有体现多次前往的"回头客榜"，还有本地人爱去、城市特色体 验、高分烟火小店等多类排名，每个分类都会根据动态数据每日更新。 高德希望向外界传递的信息是，这是一份无法刷 ...