甲骨文大跌引发大型科技股集体下挫，纳指跌超400点。昨日止跌反弹的港股三大指数低开，恒指跌 0.54%，国指跌0.62%，恒生科技指数跌1.11%。大型科技股集体下跌，小米、阿里巴巴跌2%；软件类 股、汽车股、免税概念股走低，小鹏汽车跌2.3%，中国中免跌2%。另外，正在筹划吸收合并东兴证 券、信达证券，中金公司复牌高开7%，生物医药股、高铁基建股部分上涨。(格隆汇) ...

3、港股通最近5个交易日减持榜（前10名） | 公司名称 | 持股数量 | 最新持股比例 | | --- | --- | --- | | 中国电信(00728) | 100.31亿股 | 72.27% | | 绿色动力环保(01330) | 2.83亿股 | 70.08% | | 大眾公用(01635) | 3.72亿股 | 69.75% | | 凯盛新能(01108) | 1.70亿股 | 67.86% | | 天津创业环保股份(01065) | 2.27亿股 | 66.77% | | 中国神华(01088) | 22.44亿股 | 66.44% | | 中远海能(01138) | 8.26亿股 | 63.69% | | 南方恆生科技(03033) | 87.26亿股 | 63.48% | | 弘业期货(03678) | 1.54亿股 | 61.48% | | 广汽集团(02238) | 17.21亿股 | 61.16% | | 昊天国际建投(01341) | 67.83亿股 | 61.13% | | 万科企业(02202) | 13.09亿股 | 59.31% | | 广发証券(01776) | 10.0 ...

智通财经APP获悉，新鸿基地产-R(80016)、比亚迪股份-R(81211)、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%。小米集团-W(01810)、阿里巴巴-SW(09988)、 腾讯控股(00700)的沽空金额位居前三，分别为14.30 亿元、13.68 亿元、12.51 亿元。小米集团- WR(81810)、比亚迪股份-R(81211)、远东发展(00035)的偏离值位居前三，分别为41.14%、40.41%、 33.08%。 前十大沽空比率排行 | 股票名称 | 沽空金额 | 沽空比率↓ | 偏离值 | | --- | --- | --- | --- | | 新鸿基地产-R(80016) | 101.76 万元 | 100.00% | 23.20% | | 比亚迪股份-R(81211) | 37.22 万元 | 100.00% | 40.41% | | 京东健康-R(86618) | 7635.00元 | 100.00% | 25.81% | | 商汤-WR(80020) | 127.16 万元 | 87.67% | 27.20% ...

Core Insights - By 2025, the global focus of technological competition has shifted to language models, marking a transition from a "Spring and Autumn" period of "hundred models war" to a "Warring States" era where major companies prioritize "value realization" over mere parameter scale competition [1] - Language models are reshaping the underlying logic of the digital economy, with tech giants investing billions in R&D to transform these models from novelty tools into essential national-level utilities [1] Industry Overview - The AI industry is experiencing rapid expansion and deep technological iteration, driven by language models as the core engine [2] - Key trends include multi-modal integration, embodiment intelligence, and the practical application of intelligent agents, with language models serving as the indispensable "central nervous system" [2] Language Model Sub-industry - The language model sub-industry is generally positive but faces three core pain points in consumer applications: insufficient practicality, fragmented scenarios, and cost-ecosystem imbalance [3] - The recent launch of Alibaba's Qianwen APP has seen significant success, with over 10 million downloads within a week of public testing and monthly active users exceeding 30 million within 23 days [4] Qianwen APP's Strategic Approach - Qianwen APP's rise is attributed to its strategic adjustment addressing industry pain points through a "technology + scenario + ecosystem" framework, validating Alibaba's "user-first, AI-driven" strategy [6] - The app leverages Alibaba's Qwen series models, which are competitive with leading closed-source models, enhancing its capabilities in logical reasoning and long-text processing [6][8] Future Development Trends - The language model industry is expected to enter a new development cycle characterized by technological integration, ecological symbiosis, and value orientation [9] - Future models will focus on deep multi-modal integration and vertical precision, with open-source models driving innovation and reducing costs for small and medium enterprises [9] Conclusion - The language model industry is at a critical juncture, transitioning from technological explosion to industrial prosperity, with Qianwen representing a significant breakthrough in both domestic and global markets [10]

大型蓝筹股多数下跌，汇丰控股收报118.414港元，较香港收市升0.78%；腾讯控股收报595.34港元，较香港收市跌1.6%。 智通财经APP获悉，周三，美股三大指数悉数下跌。恒生指数ADR上涨，按比例计算，收报25347.63点，较香港收市跌121.15或 0.48%。 | .HSIADR 恒生指数ADR | | 507 | | --- | --- | --- | | 25347,63 ↓ -121.15 -0.48% == 收盘价 12/17 16:00 美东 | | | | ■ A G | | . | | 最高价 25539.75 开盘价 25508.51 成交量 3786.13万 | | | | 最低价 25311.91 昨收价 25468.78 | 平均价 25425.83 | | | 52周最高 27275.90 上 涨 -- | 麻 麻 | | | 52周最低 18856.77 下 跌 -- | 振 幅 0.90% | | | 港股代码 | 图音 名称 最新价 ADR换算价(HKD) | 涨跌额 | 涨跌幅 | ADRICA | | 较未設期公 | 较港股升跌% | | --- | --- | ...

Core Viewpoint - The article highlights the joint efforts of multiple departments in Beijing to address and regulate the spread of misinformation and chaotic practices in the real estate sector on various internet platforms, aiming to restore market order and confidence [1]. Group 1: Regulatory Actions - Beijing's housing authority has conducted joint discussions with platforms like Douyin, Xiaohongshu, Beike, 58 Tongcheng, Xianyu, Lianjia, Wo Ai Wo Jia, and Maitian to strengthen online ecosystem governance [1]. - The meeting emphasized the need for platforms to conduct comprehensive self-inspections, promptly remove illegal information, and establish a regular internal review mechanism for industry content [1]. Group 2: Compliance Results - As of December 12, platforms including 58 Tongcheng, Douyin, Xiaohongshu, and others have collectively cleared over 17,000 pieces of illegal and harmful information [5]. - More than 2,300 accounts and live streams that exaggerated market fluctuations, spread anxiety, speculated on policies, and disseminated false content have been removed [5]. - Lianjia, Wo Ai Wo Jia, and Maitian have screened over 1.3 million online housing listings, rectifying and removing over 480 non-compliant listings [5].

Core Insights - Multiple internet platforms, including Douyin and Xiaohongshu, were summoned by Beijing's housing authority to address issues related to the dissemination of false information and market panic in the real estate sector [1] Group 1: Regulatory Actions - Beijing's housing authority conducted a joint meeting with various departments to strengthen online ecosystem governance and curb irregularities in the real estate market [1] - The meeting highlighted that certain self-media accounts were spreading negative narratives about Beijing's housing market, creating panic and disseminating false information [1] - Platforms were instructed to conduct comprehensive self-checks, promptly remove illegal information, and establish a regular internal review mechanism for industry content [1] Group 2: Compliance and Cleanup Efforts - As of December 12, under the supervision of relevant authorities, platforms like 58.com, Douyin, Xiaohongshu, and others have collectively cleaned up over 17,000 pieces of illegal and harmful information [1] - More than 2,300 accounts and live streams that amplified market fluctuations and spread anxiety were removed, including those associated with misleading real estate content [1] - Companies like Lianjia, Wo Ai Wo Jia, and Maidian screened over 1.3 million online property listings, resulting in the removal of over 480 non-compliant listings [1]

Investment Rating - The report maintains a "Recommended" rating for the media and internet industry [1] Core Viewpoints - The media and internet industry is driven by performance and AI empowerment, with a focus on core assets in the Hong Kong internet sector and AI applications [3][4] - The report highlights the stable supply in the film industry and the recovery of the box office, with significant growth in ticket sales [16][20] - The gaming sector shows strong performance with an increase in both client and mobile game revenues, driven by dual-end interaction [57][58] - The advertising market is showing steady growth, with a notable increase in spending across various sectors [3][4] Market Review - In November 2025, the media industry index rose by 1.69%, outperforming the Shanghai and Shenzhen 300 index, which fell by 2.46% [5][6] - The media sector's performance varied, with advertising marketing up by 9.68% and the gaming sector down by 0.94% [10][12] Sub-industry Data Tracking Film Industry - The national box office for November 2025 reached 3.553 billion yuan, a year-on-year increase of 89.29% and a month-on-month increase of 36.03% [16][20] - The top film, "Zootopia 2," generated a box office of 1.731 billion yuan, accounting for 54.2% of the monthly total [23] Gaming Industry - The domestic gaming market's actual sales revenue in October 2025 was 31.359 billion yuan, a year-on-year increase of 7.83% [57] - Client games showed a strong performance with revenues of 7.227 billion yuan, up 29.4% year-on-year [58] Advertising Industry - The overall advertising market expenditure increased by 4.3% year-on-year in the first ten months of 2025, with a significant rise of 10.6% in October [3][4]

12月17日恒生指数上涨0.92%，报收25468.78点，全天南向资金通过港股通渠道合计净买入79.09亿港 元。 证券时报•数据宝统计，12月17日港股通全天合计成交金额为796.24亿港元，成交净买入79.09亿港元。 具体来看，沪市港股通成交金额455.02亿港元，成交净买入22.18亿港元；深市港股通成交金额341.22亿 港元，成交净买入56.91亿港元。 成交活跃股方面，沪市港股通前十大成交活跃股中，阿里巴巴-W成交额为30.01亿港元，成交金额居 首；其次是长飞光纤光缆、腾讯控股，成交金额分别为20.20亿港元、14.40亿港元。以净买卖金额统 计，紫金矿业净买入额为3.58亿港元，净买入金额居首，该股收盘股价上涨1.82%。净卖出金额最多的 是中国海洋石油，净卖出3.85亿港元，收盘股价下跌0.20%。 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25.57亿港元；其次是腾讯控 股、小米集团-W，成交金额分别为20.65亿港元、14.33亿港元。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小米集团-W，净买入8.89亿港元，该股收盘上涨0.78%。净卖出金额 ...

得注意的是，中国上榜企业呈现多元发展特征，金融服务、能源和消费品三大行业稳居前列，宁德时代领衔全球 储能行业，小米跻身消费电子领域全球领先阵营，腾讯、字节跳动则与国际巨头共同主导全球娱乐行业发展，在 多个细分领域占据全球领先地位。 本次榜单还呈现出诸多值得关注的行业与区域趋势：从行业分布来看，金融服务以 249 家上榜企业居首，能源 （119 家）、生命健康（73 家）紧随其后，而人工智能相关领域的企业价值增长最为显著，目前榜单上已有 11 家 价值万亿美元的人工智能相关企业，远超 2020 年的 4 家；从城市维度来看，北京以 53 家上榜企业的规模蝉联全 球第一，较上年新增 5 家，东京（47 家）与纽约（40 家）分列二三位，上海（16 家）、深圳（15 家）、孟买 （17 家）等亚洲金融中心通过显著的价值增长巩固了自身地位；从企业属性来看，千强企业中有 10% 为非上市 公司，OpenAI、字节跳动、SpaceX 等成为全球最具价值的未上市企业代表，展现了非上市企业在创新领域的强 劲活力。 此外，榜单还反映出全球企业价值创造的 "头部聚集" 特征：价值超 1000 亿美元的企业从 5 年前的 115 ...