2月10日，阿里巴巴正式推出机器人AI基础模型RynnBrain。该开源模型旨在为机器人赋予感知、决策与执行能力，推动其在现实场景中的自主任 务完成。 RynnBrain由阿里巴巴达摩院自主研发，具备环境交互、时空理解及任务分解规划等核心能力。该模型可协助机器人完成物体识别与定位、运动轨 迹预测，并在厨房、工厂流水线等动态复杂环境中实现精准导航与自主操作。 根据阿里巴巴公布的测试数据，RynnBrain在多项权威评测中表现突出，超越谷歌Gemini Robotics-ER 1.5及英伟达Cosmos-Reason2等业界主流模 型。该模型已在16项具身开源评测榜单中刷新纪录（SOTA）。 达摩院此次开源了RynnBrain系列的全部七个模型，涵盖从20亿参数版本到30B混合专家（MoE）架构等多种规格。该系列基于Qwen3-VL视觉语 言模型训练，已在Hugging Face与GitHub等平台开放获取。 其中，业界首个采用MoE架构的30B具身模型，旨在提升机器人动作的流畅性与响应速度。为规范评估标准，达摩院同步发布了全新评测基准 RynnBrain-Bench，专注于时空细粒度任务评测，填补了当前行业在该 ...

Core Insights - Alibaba has officially launched its next-generation image generation and editing model, Qwen-Image-2.0, which is described as having capabilities that are "accurate, versatile, aesthetically pleasing, authentic, and well-structured" [1][3] - The model supports up to 1K tokens for text output and demonstrates advantages in rendering Chinese characters, as evidenced by a demonstration of generating an image based on the ancient text "Lantingji Xu" [1] - In the AI Arena evaluation, Qwen-Image-2.0 scored 1029 points, surpassing models like Seedream 4.5 and Flux 2-Max, and is only behind Google's Nano Banana Pro and GPT Image 1.5 [3] - Concurrently, ByteDance's image generation model Seedream has been upgraded to version 5.0, indicating an impending direct competition between Alibaba and ByteDance in the image generation space [3]

Core Insights - The Milan-Cortina Winter Olympics officially opened on February 6, showcasing Alibaba's innovative "Alibaba Wonder on Ice" experience, which integrates AI digital shopping [1][4] Group 1: Alibaba's Technological Innovations - Taobao Vision has created a futuristic shopping space that combines AI, 3D, and XR technologies, allowing visitors to create personalized digital avatars with the help of AI assistants [3][6] - The immersive experience enables users to select clothing, makeup, and fragrances, participating in a unique virtual snowball event [3][6] - The experience is built on Alibaba's cloud and AI technology, utilizing self-developed 3D Gaussian digital human technology for real-time rendering and spatial interaction [3][6] Group 2: Experience Venue Details - The "Alibaba Wonder on Ice" venue is located in front of the Sforza Castle in Milan, featuring an 8.8-meter diameter transparent crystal ball and a 30-meter long ice crystal dome [3][6] - The crystal ball serves as an interactive space during the day and transforms into a projection surface for AI-generated visual content at night [3][6] Group 3: Strategic Partnerships and Future Outlook - The International Olympic Committee (IOC) values Alibaba as a crucial partner, emphasizing the role of AI technology in shaping the future of the Olympics [4][7] - Alibaba is the first Chinese e-commerce application to launch on Apple Vision Pro, enhancing the shopping experience through 3D immersive space [3][6]

Group 1 - The current Hong Kong stock market is in a phase of oscillation and correction, with the Hang Seng Technology Index dropping from a peak of around 6000 points in mid-January to 5346.2 points by February 6, marking a weekly decline of 6.51%, the largest in recent weeks [1] - The adjustment within the sector shows significant differentiation, with semiconductor and internet leaders experiencing larger declines, while new energy vehicles and home appliances showed relative resilience, indicating that funds are concentrating on quality core assets rather than exiting the market entirely [1][2] - The report emphasizes that the current market conditions represent a "golden layout window" for investors, characterized by oversold valuations, counter-cyclical capital inflows, and improving fundamentals [1][10] Group 2 - Southbound capital has shown a "buy the dip" behavior, with a net inflow of 560.7 billion HKD in the week of February 6, the highest weekly net inflow in three months, indicating strong confidence from domestic investors in the Hong Kong technology sector [2] - The concentration of capital flows has increased, with technology ETFs becoming key tools for domestic investors, reflecting a shift from traditional high-dividend sectors to technology growth sectors [2][3] - The report notes that the Hang Seng Technology Index's PE (TTM) is at 22.1 times, significantly below its historical average of 32.1 times and the global comparable technology indices, highlighting a valuation discount of over 35% [4] Group 3 - The report identifies four solid support dimensions for the Hang Seng Technology Index: technical, valuation, capital, and fundamental aspects, which collectively create a "margin of safety" for the sector [3] - The technical indicators show that the index is severely oversold, with a strong support level around 5400 points, which has not been effectively breached despite recent declines [3][4] - The fundamental outlook is bolstered by the sector's deep integration with the AI wave, with over 70% of the index's components related to AI, indicating strong growth potential as the industry transitions from R&D to commercialization [6][7] Group 4 - The report attributes the recent decline in the Hang Seng Technology Index to short-term emotional disturbances rather than a reversal of fundamental trends, driven by external tightening expectations, internal profit-taking, and unfounded rumors [7][8] - It emphasizes that the current market downturn is a valuable opportunity for investors to acquire quality assets, as the emotional "panic low" often represents a "golden buying point" [9][10] - The report suggests a strategy of "buying in batches and holding long-term," focusing on core stocks that are rapidly commercializing AI applications and have stable cash flows [9][10]

Core Insights - Kuaishou has officially announced a partnership with CCTV's Spring Festival Gala, utilizing live streaming, on-demand, and short video formats to present the 2026 gala content, with users able to receive cash red envelopes through interaction [1] - The competition for user engagement during the Spring Festival has shifted significantly, with major companies like Tencent, Baidu, and Alibaba investing a total of at least 4.5 billion yuan in cash red envelopes for AI product user acquisition [2][4] - This year's marketing strategy marks a fundamental shift in focus from mobile payment and short video traffic to positioning in the AI era, indicating a new competitive landscape [4] Group 1: Red Envelope War Evolution - The red envelope tradition has evolved through four distinct phases over the past decade, starting with the "payment entry competition" phase from 2015 to 2018, where Tencent and Alipay battled for dominance [5][6] - The second phase from 2019 to 2023 focused on "traffic ecosystem expansion," with companies like Baidu, Kuaishou, and Douyin increasing red envelope amounts to drive user engagement and ecosystem growth [6] - The current phase from 2023 to 2026 is characterized by a decline in red envelope activities, with companies now prioritizing more direct marketing strategies and user conversion [6] Group 2: AI Integration and Strategic Positioning - The 2026 red envelope activities are deeply integrated with AI products, requiring users to interact with AI assistants to earn rewards, marking the beginning of the "AI entry positioning phase" [6][10] - Major companies are investing heavily in AI to secure a foothold in the rapidly growing AI consumer market, projected to reach $1.3 trillion by 2030, with an annual growth rate exceeding 35% [12] - The Spring Festival serves as a critical opportunity for companies to establish user habits and expand their user base, as it is the only time of year that can achieve nationwide reach [15] Group 3: Challenges and User Retention - Despite the significant investments, companies face challenges related to user retention, as past experiences show that cash incentives often lead to low long-term engagement [21][23] - The quality of user interaction data is also a concern, as simplified motivations for engagement can lead to poor data quality, which negatively impacts AI model performance [23][24] - Ultimately, the success of AI assistants will depend on their inherent value and ability to solve real user problems, rather than solely on financial incentives [24]

Core Viewpoint - Alibaba's Qwen has launched a new generation image generation foundational model, Qwen-Image-2.0, which is now available for API testing on Alibaba Cloud's Bailian platform and can be experienced for free through Qwen Chat [1] Group 1 - The new model, Qwen-Image-2.0, represents an advancement in image generation technology [1] - Developers can access the model via API for testing purposes [1] - Users can experience the new model for free through the Qwen Chat platform [1]

责任编辑：杨赐 新浪科技讯 2月10日下午消息，临近小年，即时零售平台年货旺销，今日新浪科技获悉，淘宝闪购年货 销量同比增长超347%，三四线城市年货订单同比增长超580%，其中大庆、咸阳、宜昌、潍坊、湛江等 城市订单同比增长超一二线主流城市。返乡潮下，下沉市场逐渐成为当下年货节的消费主场。 新浪科技讯 2月10日下午消息，临近小年，即时零售平台年货旺销，今日新浪科技获悉，淘宝闪购年货 销量同比增长超347%，三四线城市年货订单同比增长超580%，其中大庆、咸阳、宜昌、潍坊、湛江等 城市订单同比增长超一二线主流城市。返乡潮下，下沉市场逐渐成为当下年货节的消费主场。 此外，今年春节，淘宝闪购携手全国零售商超及品质仓门店全程"不打烊"，营业商户数同比增长 32.9%，年货节商品总量较去年显著提升，乡县地区30分钟送达已成常态，全国重点城市连锁商超及淘 宝便利店等合作门店，春节期间线上门店营业率超过九成。 此外，今年春节，淘宝闪购携手全国零售商超及品质仓门店全程"不打烊"，营业商户数同比增长 32.9%，年货节商品总量较去年显著提升，乡县地区30分钟送达已成常态，全国重点城市连锁商超及淘 宝便利店等合作门店，春节期 ...

Core Viewpoint - Alibaba has restructured its business into four main categories, indicating a strategic shift towards focusing on its core strengths in Chinese e-commerce and cloud intelligence, while the international digital commerce segment appears to be less prioritized [2][3]. Group 1: Business Structure and Strategy - Alibaba has officially divided its operations into four major business segments: Alibaba China E-commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and Other Businesses [2]. - The strategic focus is primarily on Alibaba China E-commerce Group, which is positioned to capitalize on consumer trends and instant retail, while the Cloud Intelligence Group is leveraging AI advancements [3]. Group 2: International Digital Commerce - The Alibaba International Digital Commerce Group, while showing some growth through platforms like AliExpress, is overshadowed by the more aggressive strategies of Alibaba's other segments [3]. - AliExpress has recently reported rapid growth, ranking among the top 10 in terms of comprehensive platform growth in developed markets like the US and UK, but this success is seen as secondary to Alibaba's main strategic focus [3]. Group 3: Competition and Market Dynamics - Alibaba is pursuing two distinct consumer-facing international strategies: the well-known AliExpress and the emerging Taobao overseas business, which has recently gained traction [5]. - The Taobao overseas strategy has been upgraded to the "Taobao Tmall Overseas Growth Plan," which includes subsidies for overseas shipping, aiming to enhance its competitive edge [5]. Group 4: Internal Dynamics and Leadership - The return of Jiang Fan to Alibaba has led to increased support for the Taobao overseas business, raising questions about the future of the AliExpress platform and its competitive positioning [10][11]. - Jiang Fan's dissatisfaction with the performance of the international digital commerce segment may be driving the push for Taobao's overseas expansion, as he seeks to demonstrate results following his return to leadership [10][11]. Group 5: Future Outlook and Challenges - The performance of the international digital commerce segment has seen a decline in revenue growth rates, dropping from 45% in Q1 2024 to 22% in Q1 2025, indicating potential challenges ahead [11]. - The competition between Taobao overseas and AliExpress is expected to intensify, with both platforms vying for market share in the international e-commerce landscape [6][9].

Group 1 - Hangzhou is a significant hub in the field of artificial intelligence large models, with Alibaba's large model performing exceptionally well [1] - Hangzhou Jinx Technology Co., Ltd. focuses on developing a general brain engine for robots to address the compatibility issues between humanoid robot software and hardware [1] - Alibaba's real estate division signed a total leasing area of 500,000 square meters nationwide for the fiscal year 2025, with 410,000 square meters located in Hangzhou [1] Group 2 - The Alibaba Digital Ecological Innovation Park hosts over 370 enterprises, primarily focusing on the artificial intelligence industry, with different parks emphasizing various aspects [1] - Zhejiang Shiyue Technology Co., Ltd. is another company located in Alibaba's park, specializing in dexterous hand operation models and data acquisition solutions [1] - The CEO of Shiyue Technology stated that the company aims to leverage Alibaba's platform to connect with more upstream and downstream enterprises, including humanoid robot companies and suppliers of key modules [2] Group 3 - Shiyue Technology plans to officially launch the mass production version of its dexterous hand in February, with an expected price of around 100,000 yuan, to be listed on JD's artificial intelligence platform [3]

Core Viewpoint - The article discusses the performance of the A-share market, highlighting the fluctuations in major indices and the notable movements in specific sectors such as media and pharmaceuticals. Market Performance - The Shanghai Composite Index decreased by 0.02% to 4122.34, while the Shenzhen Component Index also fell by 0.02% to 14206.26. The ChiNext Index dropped by 0.14% to 3328.02, and the Sci-Tech Innovation Board Index rose by 0.19% to 1800.35 [4][12]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.4 trillion yuan, with over 2800 stocks declining [6]. Sector Highlights - The media sector experienced significant gains, with multiple stocks such as Light Media and China Film hitting the daily limit, and Huace Film and Happiness Blue Sea rising over 15% [5][6]. - The innovative drug concept saw a surge, with stocks like Guangsheng Tang increasing by over 13% [6]. - The semiconductor sector also performed well, with stocks like Chipone Technology rising over 8% [10]. New Listings - Three new stocks were listed, with N Electric Technology opening at a remarkable increase of 750.05% on its first day [11]. Other Market Movements - The precious metals, shipping, and liquor sectors showed weakness, contrasting with the strong performance of the media and innovative drug sectors [5][6].