Group 1 - The core point of the article is that Beijing Kingsoft Cloud Network Technology Co., Ltd. and its affiliated companies have applied for a patent related to a fault determination method for computing clusters, which aims to improve fault localization efficiency during large model training tasks [1][2]. Group 2 - Beijing Kingsoft Cloud Network Technology Co., Ltd. was established in 2011, has a registered capital of 200 million RMB, and has invested in 14 companies while participating in 1,019 bidding projects [2]. - Beijing JinXun RuiBo Network Technology Co., Ltd. was founded in 2015, has a registered capital of 10 million RMB, and has invested in 3 companies with 10 bidding project participations [2]. - Beijing Kingsoft Cloud Technology Co., Ltd. was established in 2012, has a registered capital of 910 million RMB, and has invested in 14 companies while holding 429 trademark records and 693 patent records [2].

Core Viewpoint - Chinese assets experienced a strong start in 2026, with significant gains in various indices and stocks, indicating a continuation of the structural bull market from 2025 and a clear investment theme for the year ahead [1][2]. Group 1: Performance of Chinese Assets - The Nasdaq Golden Dragon China Index surged nearly 4%, while leveraged ETFs for Chinese stocks saw increases of over 10% and 8% respectively [2]. - Major Chinese stocks performed well, with Baidu Group rising over 12%, and other notable gains from companies like WanGuo Data and JinkoSolar, which increased by over 8% and 7% respectively [2]. - The Hong Kong market also showed strong performance, with the Hang Seng Index up 2.76% and the Hang Seng Technology Index up 4% [2]. Group 2: Currency Movements - The offshore RMB/USD exchange rate broke above 6.97, reaching a high of 6.9662, marking the strongest level since May 2023 [3]. - Factors contributing to the RMB appreciation include a strong Chinese stock market, increased demand for currency conversion from export companies, and a weakening US dollar [4]. Group 3: Global Market Trends - Global markets continued their strong performance from 2025, with Asian markets achieving their best opening since 2012, led by gains in AI and semiconductor stocks [5]. - Major US tech stocks also saw gains, with the Philadelphia Semiconductor Index rising over 4% and ASML ADR increasing by over 8% [6]. - Investor sentiment remains optimistic, with significant net inflows into global equity funds, totaling $26.54 billion in the last week of 2025 [6].

Group 1 - Baidu's stock increased by over 12% [1] - NetEase's stock rose by more than 6% [1] - NIO's stock gained over 5% [1] Group 2 - New Oriental, GDS Holdings, Kingsoft Cloud, and Alibaba all saw stock increases of over 4% [1] - Bilibili's stock rose by more than 3% [1] - Li Auto, Pony.ai, Futu Holdings, TSMC, JD.com, JinkoSolar, Beike, Pinduoduo, Tencent Music, iQIYI, and Bawang Tea all experienced stock increases of over 2% [1]

Group 1 - Beijing Kingsoft Cloud Network Technology Co., Ltd. has obtained a patent for "Analysis Method, Device, and Server for Data Flow," with authorization announcement number CN114817162B, applied for on April 2022 [1] - The company was established in 2011 and is located in Beijing, primarily engaged in internet and related services, with a registered capital of 200 million RMB [1] - According to data analysis from Tianyancha, the company has invested in 14 enterprises, participated in 1,018 bidding projects, holds 3 trademark information, and has 2,867 patent information, along with 13 administrative licenses [1]

国家知识产权局信息显示，北京金山云网络技术有限公司取得一项名为"版本的环境部署方法、装置及 电子设备"的专利，授权公告号CN114879976B，申请日期为2021年2月。 本文源自：市场资讯 作者：情报员 天眼查资料显示，北京金山云网络技术有限公司，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20000万人民币。通过天眼查大数据分析，北京金山云网络技术有 限公司共对外投资了14家企业，参与招投标项目1018次，财产线索方面有商标信息3条，专利信息2867 条，此外企业还拥有行政许可13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。 ...

Group 1 - The State Intellectual Property Office of China shows that Beijing Kingsoft Cloud Network Technology Co., Ltd. and Beijing Kingsoft Cloud Technology Co., Ltd. have applied for a patent titled "Statistical Method, Device, Storage Medium, and Electronic Equipment for Measuring Data," with publication number CN121210546A, and the application date is June 2024 [1] - The patent abstract indicates that the application involves a method for measuring data statistics, which includes obtaining measurement data when target data is written to a database, writing the target data to a target table, and storing measurement data in a secondary table for statistical analysis [1] - The application aims to address the technical issue of low efficiency in measuring data statistics [1] Group 2 - Beijing Kingsoft Cloud Network Technology Co., Ltd. was established in 2011, located in Beijing, and primarily engages in internet and related services, with a registered capital of 200 million RMB [1] - The company has invested in 14 enterprises, participated in 1,017 bidding projects, and holds 3 trademark records and 2,867 patent records, along with 13 administrative licenses [1] - Beijing Kingsoft Cloud Technology Co., Ltd. was founded in 2012, also located in Beijing, focusing on software and information technology services, with a registered capital of 910 million RMB [2] - This company has also invested in 14 enterprises, holds 428 trademark records and 693 patent records, and possesses 4 administrative licenses [2]

Core Viewpoint - The integration of medical and engineering fields is becoming a key driver for breakthroughs in high-end medical equipment and biopharmaceutical innovation, particularly in Zhuhai, which is positioned as a strategic hub in the Guangdong-Hong Kong-Macao Greater Bay Area [2]. Event Details - The "Medical-Engineering Integration Annual Conference 2025" will be held from December 26 to 28, 2025, in Zhuhai, Guangdong, aiming to promote high-quality development in the medical-engineering integration sector [2]. - The conference theme is "Jointly Inviting the Bay Area: Medical-Engineering Integration to Inspire the Future," focusing on creating a resource platform for collaboration among government, associations, hospitals, universities, research institutions, investment entities, and enterprises [2]. Organizing Institutions - The conference is guided by the China Medical and Health Culture Association and organized by Beijing Institute of Technology (Zhuhai), Zhuhai Health Bureau, and the Medical-Engineering Integration Branch of the China Medical and Health Culture Association [3]. Conference Highlights - The event will feature top scholars and industry leaders sharing insights on cutting-edge research and industry trends, fostering a collaborative ecosystem for project signing and talent introduction [60]. - A dedicated Zhuhai Medical-Engineering Integration Liaison Office will be established to provide ongoing support and services, including policy consultation and funding connections [60]. Main Content - The agenda includes leadership speeches, high-quality thematic forums, academic dialogues, and an award ceremony for outstanding orthopedic innovation projects [61]. - Resource matching sessions will be organized, including project roadshows and expert evaluations, along with site visits to local leading enterprises [61]. - Policy and service promotion will cover key industry policies in biomedicine, high-end medical equipment, and artificial intelligence [61].

每经AI快讯，12月23日，纳斯达克中国金龙指数收涨0.58%。爱奇艺涨近3%，小马智行涨超2%，哔哩 哔哩涨1.57%；金山云跌1.50%。 ...

Core Insights - Kingsoft Cloud has been awarded the "Annual Hong Kong Stock Connect Excellence Award" at the "Jingge Award" annual selection, reflecting market recognition of its high-quality growth path in the AI era [1] Financial Performance - In Q3 2025, Kingsoft Cloud reported revenue of 2.48 billion yuan, a year-on-year increase of 31%, with adjusted net profit reaching 28.73 million yuan, marking its entry into a new phase of scalable profitability [2] - Public cloud revenue grew significantly by 49% year-on-year, with the intelligent computing cloud business seeing a remarkable increase of nearly 120%, reaching 780 million yuan, accounting for 45% of public cloud revenue [2] - The company has effectively met AI computing power demands through infrastructure upgrades and optimized intelligent computing services, supporting large-scale inference needs for major internet clients [2] Technological Development - Kingsoft Cloud has built an open model ecosystem through its "Xingliu Platform," recently adding Xiaomi's self-developed model, XiaomiMiMo-V2-Flash, which enhances platform capabilities for real-time interaction and content generation [3] - The company has covered major domestic models and offers features like model management and automatic scaling, helping clients lower the barriers to AI application [3] - IDC predicts that the scale of intelligent computing power in China will grow at a compound annual growth rate of over 46% from 2023 to 2028, positioning Kingsoft Cloud to benefit from industry growth [3] Ecosystem Collaboration - As the only strategic cloud platform within the Xiaomi Kingsoft ecosystem, Kingsoft Cloud has seen strong revenue growth from this ecosystem, reaching 690 million yuan in Q3, an increase of 84%, accounting for 28% of total revenue [4] - The planned related transactions with Xiaomi Kingsoft from 2025 to 2027 amount to 11.3 billion yuan, providing a solid foundation for future growth [4] - The company raised 2.802 billion Hong Kong dollars through a placement, with 80% allocated for AI infrastructure expansion to enhance its capacity to meet internal and external demands [4] Future Outlook - Market institutions believe Kingsoft Cloud has established a high-quality growth path through "AI demand + ecosystem collaboration," with several firms issuing "buy" ratings [5] - As enterprises accelerate cloud adoption and AI applications, Kingsoft Cloud is expected to achieve value re-evaluation amid the intelligent computing wave [5] - The company's clear AI strategy and ecosystem advantages showcase its differentiated competitiveness as an independent cloud vendor, potentially providing a sustainable growth model for the industry [5]

12月22日，格隆汇在线上举办"科技赋能·资本破局"分享会。本次分享会，备受瞩目的卓越公司评选榜 单将隆重揭晓，其中格隆汇"金格奖"年度卓越公司评选中，粉笔(02469.HK)、国泰君安国际 (01788.HK)、黑芝麻智能(02533.HK)、金山云(03896.HK/KC.US)、九方智投控股(09636.HK) 5家企业荣 获"年度港股通卓越奖"奖项。（排名不分先后，按公司首部字母顺序排列） 格隆汇以"全球视野，下注中国"为初衷，本次评选旨在打造出投资圈中最具参考价值的上市公司及独角 兽公司排行榜。此次"金格奖"上市公司评选覆盖港交所、上交所、深交所、纽交所、美国证券交易所、 纳斯达克证券交易所挂牌上市的全部上市公司及独角兽公司。 | 2025年度卓越公司评选榜单 | | | --- | --- | | T 天天 出 | B | | GURUCLUB OUTSTANDING COMPANIES I 公司名称 | 公司代码 | | 粉笔 | 02469.HK | | 国泰君安国际 | 01788.HK | | 黑芝麻智能 | 02533.HK | | 金山云 | 03896.HK/KC.US | | 九方 ...