南财智讯1月20日电，值得买公告，公司拟为控股子公司青岛星罗创想网络科技有限公司与浙江巨量引 擎网络科技有限公司及武汉星图新视界科技有限公司签署的系列合同项下全部债务承担连带责任担保， 担保额度不超过人民币5000.00万元（含），保证期间为主合同项下全部债务履行期届满之日后三年 止。本次担保事项已经公司第四届董事会第十次会议审议通过，无需提交股东会审议。董事会认为，该 担保有利于提升子公司资金使用效率，降低财务成本，符合公司整体利益。截至目前，公司及控股子公 司累计对外担保总金额为7.4亿元，占公司2024年度经审计归属于上市公司股东净资产的38.86%，无逾 期担保或对合并报表外单位担保的情况。 ...

泰信优势领航混合A（015034）成立日期2022年9月7日，最新规模1819.35万。今年以来收益11.36%， 同类排名871/8848；近一年收益31.94%，同类排名4020/8093；成立以来收益18.05%。 泰信优势领航混合A（015034）基金经理为吴秉韬。 1月20日，值得买跌5.02%，截至发稿，报60.51元/股，成交12.14亿元，换手率15.51%，总市值120.33亿 元。 资料显示，北京值得买科技股份有限公司位于北京市丰台区诺德中心二期11号楼37层-39层，成立日期 2011年11月10日，上市日期2019年7月15日，公司主营业务涉及运营内容类导购平台什么值得买网站 (www.smzdm.com)及相应的移动客户端,为电商、品牌商等提供信息推广服务、互联网效果营销平台服 务。主营业务收入构成为：信息推广收入41.83%，互联网效果营销平台收入28.38%，运营服务费收入 27.62%，品牌营销收入2.00%，商品销售收入0.17%。 从基金十大重仓股角度 数据显示，泰信基金旗下1只基金重仓值得买。泰信优势领航混合A（015034）三季度持有股数8.03万 股，占基金净值比例为 ...

Summary of Conference Call Records Industry and Company Involved - The focus is on the AI and e-commerce industry, specifically highlighting the collaboration between Alipay, Qianwen APP, and other partners in launching the first AI Commercial ACT in China [1][1]. Core Points and Arguments 1. **AI and E-commerce Synergy**: The collaboration between Alipay and Qianwen APP marks a significant step in the integration of AI into e-commerce, with the launch of the AI Commercial ACT protocol designed for agent commercial needs. This is expected to enhance cross-terminal, cross-system, and cross-platform applications in the e-commerce sector [1][1]. 2. **Rapid Progress of Haina MCPServer**: The Haina MCPServer has seen rapid development, with over 40 partners, including major AI model manufacturers. The output volume of Haina MCP increased fivefold from the previous month during the period from November 1 to 20 [2][2]. 3. **AI Commercialization Acceleration**: The company reported AI-related revenue of 32.29 million yuan for the third quarter of 2025. The consumption of tokens from third-party model APIs increased by 47.19% compared to June, indicating a growing reliance on AI technologies [2][2]. 4. **Launch of Independent AI Agents**: The company introduced the independent AI shopping assistant app "Zhang Dama" in September 2025, which combines intent analysis and task execution to enhance user decision-making efficiency and consumer experience [2][2]. 5. **Development of "Zhishu" AI Insight Platform**: In July 2025, the company developed the "Zhishu" AI platform to meet brand marketing needs. This platform evaluates content quality and user sentiment, aiding brands in understanding consumer demands and market dynamics [3][3]. Other Important but Possibly Overlooked Content - The collaboration with major platforms such as Tencent and Alibaba Cloud indicates a strategic move to integrate AI services across various digital ecosystems, enhancing the overall consumer experience [2][2]. - The emphasis on AI's role in improving marketing effectiveness through insights into content, channels, and users suggests a shift towards data-driven decision-making in brand strategies [3][3].

Core Viewpoint - The company "值得买" (Zhi De Mai) is actively engaging with users during the ZEF esports festival, focusing on understanding user interests and preferences related to gaming products [1] Group 1: Event Details - The ZEF esports festival is targeted at fans of the game "Counter-Strike 2 (CS2)" [1] - The event features numerous interactive segments where users can scan codes to participate in discussions and express their opinions [1] Group 2: User Engagement - Attendees can vote for their favorite teams and support gaming peripherals at the event [1] - Feedback from users will be analyzed by the company to better understand interests and service needs [1]

Group 1 - The core viewpoint of the article is that ZEM esports events are independently operated commercial projects by the company, with ticket and sponsorship revenues contributing to the company's current performance [2] - The revenue generated from the esports events is expected to have a small proportion in the company's revenue for the first quarter of 2026, indicating it will not have a significant impact [2]

证券日报网讯 1月19日，值得买在互动平台回答投资者提问时表示，截至2026年1月9日，公司股东总户 数42385户。 （文章来源：证券日报） ...

公司发布的三季报数据显示，前三季公司共实现营业收入8.06亿元，同比下降20.37%，实现净利润 1344.86万元，同比增长253.49%，基本每股收益为0.0700元，加权平均净资产收益率0.71%。（数据 宝） （文章来源：证券时报网） 值得买1月19日披露，截至2026年1月10日公司股东户数为42385户，较上期（2025年12月31日）减少 4667户，环比降幅为9.92%。 证券时报·数据宝统计，截至发稿，值得买收盘价为63.71元，上涨1.35%，本期筹码集中以来股价累计 上涨45.39%。具体到各交易日，8次上涨，3次下跌，其中，涨停2次，跌停1次。 ...

Group 1 - The core event is the "ZEM" online preliminary competition organized by Zhidao Technology and Xinsai eSports, taking place from January 17 to 19, featuring 16 professional CS2 teams competing for 8 advancement spots [1] - The CS series is recognized as a flagship eSports project globally, with a mature event system and a stable audience base, making it a core component of international events like the Saudi eSports World Cup [1] - Zhidao Technology is also launching an eSports carnival concurrently, aiming to create an integrated online and offline community operation scene, exploring ways to activate consumer vitality through interest content and emotional connections [1] Group 2 - The eSports industry is evolving from a singular event operation to a deeper integration with technology, consumption, and culture [2] - Hosting high-profile international events enhances companies' influence among young consumers and interest communities, while also accumulating experience in content operation and cross-industry resource integration [2] - This strategic approach provides a reference for long-term planning in the digital consumption sector [2]

Market Overview - The digital media sector experienced a decline of 7.09% on January 16, with Chuanwang Media leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Individual Stock Performance - Chuanwang Media (300987) closed at 21.51, down 11.99% with a trading volume of 292,700 shares and a transaction value of 656 million [1] - Xinhua Net (603888) closed at 26.25, down 10.01% with a trading volume of 55,500 shares and a transaction value of 146 million [1] - Visual China (000681) closed at 31.60, down 10.00% with a trading volume of 148,400 shares and a transaction value of 469 million [1] - People's Daily (603000) closed at 27.75, down 9.99% with a trading volume of 65,500 shares and a transaction value of 182 million [1] - Other notable declines include Zhidema (300785) down 6.33%, Guomai Culture (600640) down 5.00%, and Mango Super Media (300413) down 4.46% [1] Capital Flow Analysis - The digital media sector saw a net outflow of 621 million from institutional investors, while retail investors contributed a net inflow of 492 million [1] - The table indicates that major stocks like Xinhua Net and People's Daily experienced significant net outflows from institutional investors, with Xinhua Net seeing a net outflow of 14.65 million [2] - Retail investors showed a preference for stocks like People's Daily, which had a net inflow of 35.02 million from retail investors [2]

Summary of Key Points from Conference Call Industry Overview - The conference call discusses the integration of AI and e-commerce, highlighting significant advancements and trends in the industry, particularly focusing on companies like Google, OpenAI, Alibaba, and others involved in this transformation [1][2][5]. Core Insights and Arguments - **UCP Protocol Launch**: Google introduced the Universal Commercial Protocol (UCP) to provide a common delivery language for e-commerce, simplifying the integration of large models with e-commerce platforms. Major retailers like Walmart and Shopify have joined this initiative [1][2]. - **Instant Checkout Feature**: OpenAI's ChatGPT launched the Instant Checkout feature, collaborating with Shopify and Walmart to create a payment closure, marking a significant step in commercializing AI in e-commerce [1][2]. - **Efficiency in Consumer Decision-Making**: The integration of AI in e-commerce significantly enhances consumer decision-making efficiency by allowing users to complete the entire purchasing process within a chatbot interface, reducing the time taken for decisions [4]. - **AI's Impact on E-commerce**: The development of AI technologies is expected to improve multi-modal understanding and reasoning capabilities, lower computational costs, and promote the widespread adoption of AI agents, fundamentally changing consumer shopping habits [1][6][7]. - **Market Trends**: By 2026, AI in e-commerce is anticipated to become a major trend, leading to substantial changes in the industry and creating new investment opportunities [1][8]. Financial Performance and Projections - **Zhidingmai's Revenue Growth**: Zhidingmai is projected to see a recovery in its fundamentals by Q4 2025, with AI-related revenues primarily from AI-generated content leading to product purchases, GMV sharing, and advertising monetization. Expected revenues for 2025 are around 80 million yuan, with projections for 2026 reaching 200-300 million yuan [1][10]. - **MCP Service Launch**: Zhidingmai launched the Haina MCP service, providing product information data services to large model manufacturers, which is expected to enhance transaction GMV and commercialize through CPM/CPA fees or GMV sharing [1][8]. Other Important Insights - **Beneficiaries of AI Development**: Companies such as Guangyun Technology (SaaS providers), Yiwei Chuang, and Liren Lizhuang (operating companies), as well as Focus Technology in the B2B sector, are expected to benefit from AI advancements, potentially leading to significant revenue and profit elasticity [3][11]. - **Investor Focus**: Investors should pay attention to the changing industry trends and the shift in traffic structure due to the increasing weight of large model traffic entrances, which may affect traditional search engine traffic. The focus for 2026 should be on capturing these trends and related investment opportunities [12].