Oakmark Funds, advised by Harris Associates, released its “Oakmark Global Fund” fourth-quarter 2025 investor letter. The fund’s objective is long-term capital appreciation by investing in a diverse group of U.S. and non-U.S. companies. The all-cap mandate of the fund allows it to invest across all market-cap companies. A copy of the letter can be downloaded here. In the fourth quarter, the fund (Investor Class) delivered a return of 5.23%, outperforming the benchmark MSCI World Index’s 3.12% gain. In addit ...

（原标题：美股异动 | 阿里巴巴(BABA.US)盘前涨逾2% 阿里千问月活破亿 明日将迎重磅迭代） 智通财经APP获悉，周三，阿里巴巴(BABA.US)盘前涨逾2%，报171.31美元。消息面上，据报道，上线 两个月，阿里千问C端月活跃用户数(MAU)已突破1亿，在学生和白领人群中增长迅猛。据多位行业人 士透露，几家竞品流量平台此前已对千问APP做出限制。据悉，阿里千问1月15日10:00将召开千问APP 发布会。 据全球最大AI开源社区Hugging Face最新数据显示，阿里千问大模型迎来爆发式增长，自2025年下半年 超越Meta以来，阿里千问累计下载量已达7亿。阿里千问增势在全球前10开源模型中最迅猛，是目前全 球开发者采用率最高的开源模型。 ...

AI 驱动阿里云继续加速，电商基数影响略 承压 ——阿里巴巴 FY26Q3 前瞻点评 核心观点 盈利预测与投资建议 ⚫ AI 驱动阿里云有望继续加速，电商承压闪购稳健减亏，大消费战略坚定协同并进。 我们预测公司 FY2026-2028 营业收入为 10307/11432/12518 亿元（原 FY2026- 2028 预测为 10344/11570/12460 亿元），经调整净利润为 916/1358/1761 亿元 （原 FY2026-2028 预测为 1093/1706/2027 亿元）。参考可比公司估值倍数，分部 估值计算公司市值为 35656 亿元，对应每股价值 207.7 港元（人民币兑港币汇率 阿里巴巴-W 09988.HK 公司研究 | 动态跟踪 | | 买入（维持） | | --- | --- | | 股价（2026年01月13日） | 159.9 港元 | | 目标价格 | 207.7 港元 | | 52 周最高价/最低价 | 186.2/77.06 港元 | | 总股本/流通 H 股（万股） | 1,909,926/1,909,926 | | H 股市值（百万港币） | 3,053,972 ...

Core Insights - The Chinese AI glasses market is entering a new phase after the "Hundred Glasses War" in 2025, with significant developments expected in 2026 as major players like Baidu and ByteDance join the competition [1][2] - Global market dynamics are shifting, with Meta maintaining a dominant position, while Google and Apple are also making strategic moves to capture market share [1][6] Investment and Financing - Companies like Thunderbird Innovation and Flash Technology have recently secured significant funding, indicating strong investor interest in the AI glasses sector [3][4] - Thunderbird Innovation raised over 1 billion yuan, while Flash Technology completed a financing round of nearly 100 million yuan to support the development of new AI glasses [3] Market Dynamics - The AI glasses market is expected to experience explosive growth in 2026, driven by successful commercialization efforts from companies like Ray-Ban Meta and the anticipated entry of tech giants like Apple and Samsung [5][6] - The global AI smart glasses market is projected to grow from 6 million units in 2025 to 20 million units in 2026, with revenue increasing from $1.2 billion to $5.6 billion [9] Competitive Landscape - The entry of major internet and mobile companies is intensifying competition, leading to potential market share erosion for existing players while also creating opportunities for startups [8][9] - The current consumer base for AI glasses primarily consists of early adopters, and the market has yet to establish a strong "must-have" demand [4][5] Technological Advancements - The introduction of eSIM technology is seen as a significant step towards making AI glasses independent devices, enhancing their functionality beyond being mere accessories [3] - Improvements in product quality and user experience are critical for retaining customers, as many users currently engage with AI glasses primarily out of curiosity [4][5] Ecosystem Development - Google is actively working on building an Android XR ecosystem through partnerships with companies like Qualcomm and Samsung, aiming to create a robust hardware ecosystem for smart glasses [6][7] - The ongoing development of the Android XR ecosystem is expected to foster innovation and application expansion in the smart glasses market, although widespread adoption may take time [7][8]

中新网以消费者身份随机询问了一款"海尓燃气热水器"产品，商家显示为上海昊乐信息科技有限公司，该店客服多次强调称是"海尔"产品且获得授 权。但海尔智家相关工作人员向中新网表示："此店铺并非海尔开设，与海尔无关，产品并非海尔品牌，为山寨产品，侵犯海尔权益行为。海尔已联合 电商平台相关部门监测并打击，将和电商平台积极联合维权。" 此外，另一商家表示，其标题标注的"海尓"冰箱，实际品牌是好太太。中新网注意到，该商品详情介绍未显示明确的品牌标识。 通过中国商标网查询，记者也注意到，在35类（广告和销售）商标中，暂未有商家申请"海尓"商标。相比于海尔品牌产品，"海尓"字样产品价格明显 更低，比如"海尓128升双门冰箱家用"产品为203元，类似产品海尔冰箱超600元。部分"海尓"字样产品全网销量超7000台。 你以为下单的是海尔冰箱，收到的却是"海尓"冰箱？ 近日有媒体报道称，江苏淮安一名消费者在阿里巴巴1688平台首页推荐的店铺花358元购买了一台"海尔"冰箱，收货后却发现是"先科"品牌。报道称， 消费者在店铺上看到的"海尔"实际是"海尓（ěr）"。"海尓"与"海尔"两者字形高度相似，将"尔"字的横勾换成横，变成"尓"。 ...

传媒 2026 年 01 月 14 日 AI Agent 的 C 端新标杆：Claude Skills 投资要点： 行 业 研 究 一、Anthropic 再发 Agent 新开放标准：Claude Skills 行 业 动 态 跟 踪 2025 年 10 月 16 日，Anthropic 官网宣布推出 Claude Skills 功能， 是一种通过文件夹结构赋予 AI Agent 专业能力的创新方式。2025 年 12 月 18 日，Anthropic 将 Agent Skills 规范发布至 agentskills.io，使其 成为跨平台可移植的开放标准。微软已在 VS Code 和 GitHub 中采纳该 标准，Cursor、Goose、Amp 等主流编程 Agent 也已支持。Anthropic 在 GitHub 上的 Skills 仓库星标数已接近 4 万，社区创建和分享的 skills 数以万计。 二、Skills 搭建个性化复杂工作流，让 Agent 真正可得。 产品层面，Claude Skills 已展现出覆盖办公、设计、开发、企业 协作等场景的强大能力。 文档处理方面，Skills 可自动生 ...

Core Viewpoint - The Hong Kong stock market continues to experience a strong performance in AI-related assets, particularly the Hong Kong Internet ETF (513770), which has shown significant upward movement since the beginning of the year [1][8]. Group 1: Market Performance - The Hong Kong Internet ETF (513770) opened high and rose over 3%, closing up 2.47%, indicating a strong short-term trend as it returned above all moving averages [1][8]. - Recent data shows that the Hong Kong Internet ETF has seen net inflows of 1.144 billion yuan over the past ten days, with a total fund size of 14.636 billion yuan as of January 13 [12][14]. Group 2: Key Stocks and Their Performance - Notable stock performances include: - Lion Group (2562) surged by 50.19% - Alibaba Health (0241) increased by 18.96% - FunPlus Group (0917) rose by 11.93% - Alibaba-W (9988) gained 5.69% [2][4][11]. - The top ten weighted stocks in the Hong Kong Internet ETF include Alibaba-W (14.71%), Tencent Holdings (14.64%), and Xiaomi Group-W (12.29%), collectively accounting for nearly 77% of the index [5][12]. Group 3: Company Developments - Alibaba is set to hold a significant product launch event for its Qianwen APP on January 15, with its C-end monthly active users surpassing 100 million within two months of launch [9][10]. - The Hugging Face community reports that Alibaba Cloud's Tongyi Qianwen series models have achieved over 700 million downloads, making it the highest downloaded open-source AI series on the platform [10][11]. Group 4: Analyst Insights - Analysts from Shenwan Hongyuan Securities suggest that the flow of traffic will shift towards AI applications with better user experiences, positioning Alibaba as a leading AI enabler in China [10][12]. - Morgan Stanley forecasts that Alibaba Cloud's revenue growth rate could accelerate to over 35% year-on-year, potentially reaching 40% by the fiscal year 2027 [10][12]. - Barclays anticipates that Alibaba Cloud will achieve its ninth consecutive quarter of revenue growth acceleration in the upcoming earnings report [12].

观点网讯：1月14日，市场消息称内存接口芯片设计商澜起科技（Montage Technology）正筹备在香港 上市，拟筹资约9亿美元，阿里巴巴将在本次交易中投资。 来源：观点地产网 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 ...

市场消息：澜起科技据悉寻求通过香港上市筹资约9亿美元。阿里巴巴或将在澜起科技的香港上市交易 中投资。（新浪财经） ...

从不同区域来看，珠三角、长三角作为"AI原生先导区"，已构建全链路AI工作流，新品上市周期缩短至 20天内。中部制造重镇被视为是"AI融合成长区"，聚焦效率提升与生产精准度优化。西部与东北地区是 成长性区域，起点低但增速高，由政策引导发展，正快速追赶AI适配步伐。 1月13日，1688公共事务部总经理范敏发布了《2025中国产业带发展趋势报告》。该报告基于1688平台 26年产业带深耕经验，整合覆盖全国70%一级产业带、超百万家源头厂商的真实交易大数据，系统分析 了AI在这些产业带的演进路径。 《2025中国产业带发展趋势报告》将"迈向AI原生"确立为2025年产业带年度关键词，并预测产业带AI化 演进将经历三个阶段：2024-2025年为"AI外挂"阶段，AI作为单点效率工具嵌入业务流程；2026-2027年 进入"AI共生"阶段，与核心业务深度融合；2028年起全面开启"AI原生"时代，AI自主驱动大部分经营决 策与产品创新。 范敏表示，1688深耕产业带20余年，兼具工厂端与消费端数据，构建了完整的产业链知识图谱。不同于 其他消费平台，1688能沉淀多环节市场主体的真实数据，从而更精准优化流通效率、降低 ...