中经记者 蒋政 北京报道 阿里司法拍卖平台显示，酒便利控股股东河南侨华商业管理有限公司持有的酒便利约51%股权拍卖已经 结束。共青城创东方华科股权投资合伙企业（有限合伙）（以下简称"创东方华科"）以6712万元的价格 成功竞得。 《中国经营报》记者注意到，竞拍企业几乎以底价获得上述股权。 资料显示，上述51%股权共分三部分上架，分别为22385517股、13658188股与2268414股，分别对应酒 便利的29.81%、18.19%和3.02%股权。 创东方华科在12月9日同时对三部分股权进行竞拍。其中，29.81%、18.19%的股权部分均以底价成交。 3.02%股权部分经过9轮竞拍，以涨幅超30%的价格成交。 财报数据显示，在今年上半年，酒便利营收5.98亿元，归母净利润为-6155万元，毛利率从17.64%降至 9.32%。 同为酒类流通企业的名品世家董事长陈明辉告诉记者，上述资产非常优质，酒便利离终端用户很近，以 这样的价格拍到非常合算。现在对于白酒渠道商来说处于价值低谷，整个产业价值链重构的机会还是很 大的。 记者了解到，创东方华科是由天音控股全资子公司天音通信有限公司、深圳市创东方资本管理有限公 ...

酒便利控制权"易主"。 12月9日上午，河南侨华商业管理有限公司（以下简称"河南侨华"）所持酒便利约51%股份终于拍卖完 成，这批股权最终被共青城创东方华科股权投资合伙企业（有限合伙）竞得，最终成交价格为 6839.9592万元。 "酒便利最值钱的是300多家门店、600多万会员和'20分钟送达'的前置仓网络，它不是'壳资源'而是'基 础设施'。因此，谁接手都必须能把这些网点激活，把'稀缺网络'变成'盈利网络'。"酒类行业独立分析 人士肖竹青向南都湾财社记者表示，创东方华科"拿下"酒便利后，很大可能会与旗下投资标的进行整 合，其中酒快到很大可能是与酒便利进行并轨。 据南都湾财社-酒水新消费指数课题组记者了解，酒便利51%股份被法拍平台分三笔进行拍卖，三批标 的起拍价合计达6712万元，而市场评估价总和9590万元，起拍价约占评估价的七成。在拍卖过程中，除 了2268414股那笔拍卖有9轮竞价，并最终溢价31.7%以约523万元成交外，其余两份股权均原价成交。 在本次股权拍卖后，酒便利将迎来"易主"。据了解，共青城创东方华科股权投资合伙企业（有限合伙， 下称创东方华科）是一家专业股权投资公司。 天眼查显示，这家 ...

酒便利控制权"易主"。 12月9日上午，河南侨华商业管理有限公司（以下简称"河南侨华"）所持酒便利约51%股份终于拍卖完 成，这批股权最终被共青城创东方华科股权投资合伙企业（有限合伙）竞得，最终成交价格为 6839.9592万元。 据南都湾财社-酒水新消费指数课题组记者了解，酒便利51%股份被法拍平台分三笔进行拍卖，三批标 的起拍价合计达6712万元，而市场评估价总和9590万元，起拍价约占评估价的七成。在拍卖过程中，除 了2268414股那笔拍卖有9轮竞价，并最终溢价31.7%以约523万元成交外，其余两份股权均原价成交。 在本次股权拍卖后，酒便利将迎来"易主"。据了解，共青城创东方华科股权投资合伙企业（有限合伙， 下称创东方华科）是一家专业股权投资公司。 天眼查显示，这家企业由天音控股全资子公司天音通信（约32.3%）、北京宽东方科技集团（24.9%） 等6家公司、机构和自然人共同出资，其中执行事务合伙人为深圳市创东方资本管理有限公司（占股 0.1%）。南都湾财社记者注意到，创东方资本母公司系创东方投资有限公司，后者实控人为知名投资 人肖水龙，其投资领域主要为大AI（AI、大数据）、大健康（生物技术）、大 ...

Group 1 - The AI smartphone concept stocks continue to be active, with Daoming Optics achieving a four-day consecutive rise [1] - Furong Technology has seen a two-day consecutive rise [1] - Other companies such as ZTE, Transsion Holdings, and Tianyin Holdings are also experiencing upward movement [1]

每经AI快讯，12月2日，AI手机概念股延续活跃，道明光学4连板，福蓉科技（维权）2连板，中兴通 讯、传音控股、天音控股跟涨。 每经AI快讯，12月2日，AI手机概念股延续活跃，道明光学4连板，福蓉科技（维权）2连板，中兴通 讯、传音控股、天音控股跟涨。 ...

数据宝统计，截至10:46，天音控股成交额10.06亿元，创2025年3月10日以来新高。最新股价上涨 0.18%，换手率8.58%。上一交易日该股全天成交额为9.14亿元。 据天眼查APP显示，天音通信控股股份有限公司成立于1997年11月07日，注册资本102510.0438万人民 币。（数据宝） （文章来源：证券时报网） ...

Core Insights - DeepSeek has launched two new models: DeepSeek-V3.2 and DeepSeek-V3.2-Speciale, aiming to enhance reasoning capabilities and output efficiency for various applications [2][3][4] Model Features - DeepSeek-V3.2 is designed to balance reasoning ability and output length, making it suitable for everyday tasks like Q&A and general agent tasks [3][4] - The model achieved performance levels comparable to GPT-5 in benchmark tests, slightly below Gemini-3.0-Pro, while significantly reducing output length compared to Kimi-K2-Thinking [3] - DeepSeek-V3.2-Speciale enhances long reasoning capabilities and combines features from DeepSeek-Math-V2, excelling in instruction following and mathematical proof [4][5] Performance Metrics - DeepSeek-V3.2-Speciale has won gold medals in prestigious competitions such as IMO 2025 and ICPC World Finals 2025, showcasing its advanced capabilities [5] - The Speciale model outperforms the standard version in complex tasks but requires more tokens, indicating higher operational costs [5] Technological Advancements - DeepSeek-V3.2 is the first model to integrate reasoning with tool usage, supporting both reasoning and non-reasoning modes for tool invocation [5] - The company has developed a large-scale agent training data synthesis method, significantly improving the model's generalization ability [5] Industry Outlook - The AI industry is entering a resonant phase, with rapid expansion in AI infrastructure and commercialization of downstream applications, expected to continue thriving [6][7] - Investment opportunities are identified in domestic chips, servers, and AI applications, with a focus on innovation and market expansion [7]

Core Viewpoint - The A-share market is currently driven by two main themes: "technology growth" and "global inflation trading," highlighting a structural and logical selection of funds between future-oriented investments in computing power and current bets on scarce resources and price increases [1][2]. Technology Growth Main Line: From AI Phones to 6G - The consumer electronics sector, particularly AI phone stocks, has seen significant gains, with companies like Tianyin Holdings and Furong Technology hitting their daily price limits due to the upcoming AI phone launch in collaboration with ByteDance and ZTE [1][2]. - The commercial aerospace sector is benefiting from policy support, with the establishment of a Commercial Space Administration, positively impacting the entire industry chain from rocket manufacturing to satellite development [2]. - The domestic computing power and semiconductor sectors are also performing well, driven by a focus on "technological self-reliance," with high-end chips and data center support systems gaining attention amid external restrictions and internal policy support [2][3]. - The commonality in technology growth is clear: defined industry trends, concentrated policy support, and measurable long-term potential, although short-term surges often depend on event catalysts and emotional resonance [3]. Global Inflation Trading Main Line: Non-Ferrous and Precious Metals - The non-ferrous metals sector has seen the largest gains, driven by soaring international commodity prices, with spot silver and copper reaching historical highs due to supply crises and interest rate cut expectations [3]. - Precious metals like gold and silver are also performing strongly, with their safe-haven and anti-inflation properties being revalued amid global inflation and geopolitical uncertainties [3]. - This type of market behavior is characterized by strong explosive power and steep short-term slopes, but its sustainability is often less than that driven by industry trends [3]. Institutional Views: Slow Bullish Base, Expectation for Year-End and Spring Rally - Multiple brokerages maintain a positive outlook for the market from year-end to early next year, with consensus and divergence present [4]. - Galaxy Securities predicts that the A-share market will remain upward in December, suggesting attention to upcoming economic meetings and industry conferences for thematic opportunities [4]. - Industrial opportunities are expected to emerge from the upcoming central economic work conference and the Federal Reserve's meetings, with technology growth seen as a key driver for market movements [4][5]. - The consensus among institutions acknowledges the bottom lifting and structural opportunities, while remaining cautious about the market's height and rhythm [5]. Conclusion: Anchoring on Industry Trends and Depth of Capital Consensus - In a slow bullish environment, while indices may not rise sharply every day, clear structural opportunities will repeatedly emerge [6]. - The key is to identify which upward trends have substantive logic and which are merely riding the wave, with the ultimate market height determined by the thickness of industry trends and the depth of capital consensus [6].

证券之星消息，12月1日专业连锁板块较上一交易日上涨4.16%，天音控股领涨。当日上证指数报收于 3914.01，上涨0.65%。深证成指报收于13146.72，上涨1.25%。专业连锁板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000829 天音控股 | | 2.66亿 | 29.14% | -1.21亿 | -13.19% | -1.46 Z | -15.95% | | 300622 博士眼镜 | | 6064.29万 | 6.08% | -28.90万 | -0.03% | -6035.39万 | -6.05% | | 002416 | 爰施德 | 5321.60万 | 9.32% | -2139.25万 | -3.75% | -3182.35万 | -5.57% | | 301078 | 孩子王 | 1881.53万 | 8.69% | -882.05万 | -4.08% | -9 ...

12月1日，字节跳动豆包团队发布豆包手机助手技术预览版。这直接引爆了A股AI手机概念股。 截至收盘，天音控股、福蓉科技、道明光学封板，近两千亿元A股市值的中兴通讯也封在涨停。 12月1日，字节跳动豆包团队发布豆包手机助手技术预览版。豆包手机助手是在豆包App的基础上，和 手机厂商在操作系统层面合作的AI（人工智能）助手软件。基于豆包大模型的能力和手机厂商的授 权，现阶段可在豆包与中兴合作的工程样机nubia M153上体验这项版本。 豆包方面明确表示，这是一款需要和手机厂商一起完成的产品，目前正与多家手机厂商洽谈助手合作。 按照字节跳动方面表述，豆包大模型能力全面，模型在推理、视觉理解、图像创作、视频生成、语音等 方面的性能达到国际一流水平，图形界面操作能力更是在多项权威评测中获得业界最佳成绩，可以像人 类一样操作手机，完成各种复杂任务。 今早，已经有媒体测试了新品。 "对比一下京东、美团外卖、淘宝上的肯德基香辣鸡腿堡哪个更便宜，选价格最低的下单，送到三里屯 SOHO A座的地址，下单的时候备注 '放前台'，下单后把订单截图微信上发给小明，告诉他外卖点完 了。"整个过程，只有付款阶段需要人工介入，其他操作全部 ...