Core Insights - DingTalk has launched the "AI Travel" product in collaboration with Gaode and Alipay, allowing enterprise users to access travel services without upfront costs or service fees [1][3] - The AI Travel service is specifically designed for small and medium-sized enterprises with fewer than 500 employees, integrating features like ride-hailing and corporate payment capabilities [1][3] - The product offers competitive hotel booking options by directly connecting with major hotel chains, and includes an AI price comparison feature to help users find the best rates [1][3] Features and Capabilities - The AI Travel product provides essential travel services including flight, hotel, train ticket, and transportation management [1][3] - It includes a "seamless reimbursement" feature that automates the association of invoices and travel itineraries with approval requests, simplifying the reimbursement process for employees [1][3] - The platform allows management to customize travel standards, set booking limits, and generate detailed reports by department or employee, enhancing cost visibility and control [2][4]

2026年初，阿里巴巴集团CEO吴泳铭发布新年家书，信中提到，阿里正在一个关键的时代路口：Al正以前所未有的速度重塑世界，消费方式和结构也在深刻 改变。令人振奋的是，今年几场'大仗'我们都打得漂亮——淘宝闪购破局逆袭；高德'扫街榜'让商家专心经营、消费者放心消费；千问APP公测一周下载量 破千万。这些成果展现出公司以技术提升商业效率、以协同创造新增长路径的清晰方向。 家书全文如下： 各位阿里亲友和伙伴，新年好！ 在这辞旧迎新的时刻，提笔写这封信，心中满是温暖与感激。过去这一年，阿里巴巴的发展势能明显增强：AI浪潮奔涌，我们抓住时代机遇，跑出了自己 的节奏；在大消费领域，我们也交出了扎实的成绩单。无论环境如何变化，我们的底色从未改变，对未来的信念，对用户的敬畏，对创新的执着，始终流淌 在阿里的血液里。 今天，阿里巴巴已经成长为一家全球领先的科技企业。势能并非偶然而来，是源于过去几年我们主动求变的自我革新，更源于每一位阿里同学日复一日的坚 守，相信与付出。这一切，都离不开家人和伙伴的支持。在此，向你们深深鞠躬：与大家同行，是我们最大的幸运。 26岁的阿里，依然走在创业路上，我们正站在一个关键的时代路口：Al正以前 ...

在移动互联网时代，中国 超过 5 亿 MAU 的有 10 个之多，AI 时代超过 5 亿 MAU 的 Super App 大 概率就 3-4 个。 晚点专栏作者 丨 昆仑万维创始人周亚辉 所以你会看到过去两个季度美股 Big7 除了谷歌，其他包括微软、Meta、亚马逊、苹果都不涨或者都在 跌，所以长期来看，如果 X.ai 用户量起不来的话，谷歌一定还是会比特斯拉市值要大。所以张一鸣不成 为中国首富谁成为中国首富。 2024 年初我在媒体上总结 2023 年的时候，说字节 2023 年的大模型战略也就 60 分，但我同时补充一 句，以张一鸣、朱文佳这些人的能力，只要启动调整，最多 2 个月时间，就很快能够到 100 分。果然如 此，字节在过去两年的 AI 战略展现出极强的前瞻性与落地效率，我对字节 AI 2024 年的 AI 方面的战略 规划打 120 分，2025 年更高，可以到 180 分。 下面我们来演习下中国的 AI Native Super App 之战，在这之前我想先表达下我对一位企业家前辈的敬 意，2025 年我最尊敬的企业家是马云马老师，他让我看到老骥伏枥，志在千里的现代版。非常 Respect ...

转自：大众网 产品推介路演环节亮点纷呈，多款承载山东地域特色的优质农品集中亮相。山东省农业农村厅渔业与渔政管理处副处长王斌重点推介了胶东刺参、乳山牡 蛎、微山湖大闸蟹等特色水产品；烟台市苹果协会常务副会长姜祉佑分享烟台苹果的种植历史、独特口感与品质优势；中裕食品有限公司品牌经理杜怡凡带 来了公司旗下优质面粉、面条等主打产品；青岛胶河源农产有限公司副总经理高成敏详细推介了"帮嫩薄、汁乳白、味鲜美、纤维细、营养好"的胶州大白 菜；山东新四维生态科技集团有限公司徐善广则聚焦新鲜鸡蛋等产品。 产销对接座谈会上，意向入驻阿里平台的山东农企与阿里各条线业务负责人面对面沟通，就合作细节、平台政策、资源支持等问题深入交流，进一步精准匹 配供需，推动产销对接落地见效。活动期间还举办了考察调研活动，与会嘉宾先后走访考察浙江天下网商、杭州遥望科技及阿里巴巴西溪园区，深入了解电 商生态与数字化营销模式。 作为本次活动亮点，"好品山东特色农产品展销会"同步在阿里巴巴数字生态创新园开展，设置两大展区、共33个展位，集中展示山东16市的地域特色产品， 并融入阿里巴巴"2026全球年味儿集"线上线下联动场景，为消费者提供沉浸式体验。 编辑： ...

▲抖音电商发布2026年"九大商家扶持政策"升级方案。图/IC photo 近两年，随着"仅退款"规则争议、"职业薅羊毛"乱象等话题引发讨论，电商生态建设的重要性愈发凸显，其推进方向也从监管政策主导，逐步转向平台自主 的生态治理。 如何保障电商主体合法权益，为平台内商家营造稳定向好的经营条件，实现买卖双方的利益平衡，已成为社会各界关注的焦点。这其中的核心诉求，绝非单 一偏向消费者权益，更包含对平台商家合法权益的同等守护。毕竟，唯有让买卖双方权责对等、互利共赢，才能真正构建起可持续发展的电商生态。 精准施策优化电商生态 在这样的行业趋势下，越来越多的平台开始注重从更多维层面优化电商生态。拿抖音为例，1月8日，抖音电商发布2026年"九大商家扶持政策"升级方案。方 案在原有政策基础上持续加大投入，围绕商家经营全流程，从成本、流量、转化、履约、技术与治理等方面进行系统性升级，着力提升商家经营的长期确定 性。 政策必须精准锚定相应群体的需求，如此才能真正击中要害，确保相应措施落地见效。在抖音此番出台的相关举措中，无疑就体现了这一点。据了解，相应 举措从商家的实际需求出发，直面商家日常经营过程中普遍关注的综合成本压力、 ...

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the structural changes in the global AI industry as of early 2026, particularly highlighting the divergence in AI application markets between China and the United States [1][1]. Macro Trends and Market Divergence - The AI application market in China and the U.S. is experiencing a stark contrast, described as "ice and fire" [1][1]. - U.S. software stocks have significantly declined since January 2026, primarily due to concerns raised by Anthropic's release of an Agent product capable of fully automated workflows, which has disrupted market perceptions of software development costs and value [1][1]. AI Application Ecosystem - The Chinese AI application ecosystem is more inclined towards "closed-loop integration," with leading companies leveraging their own traffic and ecosystems to rapidly implement Agent functionalities [2][2]. - Since August 2025, upstream computing power (chips, devices, storage) has shown strong performance, while downstream application sectors (internet, software companies) have exhibited weakness [2][2]. Technology Evolution and Model Landscape - Basic models are entering a linear growth phase, with the first tier consisting of Anthropic, OpenAI, and Gemini, while the second tier includes Grok, Zhiyu, and Kimi [3][3]. - Domestic models like Tongyi Qianwen are lagging, while Deepseek V4 is expected to challenge the first tier [3][3]. - There has been no breakthrough leap in capabilities, but overall abilities are steadily improving [4][4]. - Multimodal capabilities are becoming critical, with models like Google’s NanoBanana enhancing Agent performance in various applications [4][4]. - Vertical models are shifting towards a "post-training + reinforcement learning" approach, internalizing expert reasoning rather than relying on external retrieval systems [4][4]. Comparison of Domestic and International AI Applications - In China, companies like ByteDance, Tencent, and Alibaba are integrating AI into their ecosystems effectively, with Alibaba's Tongyi Qianwen being recognized as the first true consumer-facing Agent [5][5]. - In contrast, international players like Anthropic focus on programming workflows, while OpenAI and Google are still primarily chatbot-oriented, lacking in task planning capabilities [5][5]. Investment Logic and Recommendations - Upstream sectors such as storage (DRAM/HBM/SSD), semiconductor equipment, and power equipment are expected to benefit from the shift in AI inference demand and TSMC's planned capital expenditure increase of 30%-40% in 2026 [6][6]. - Platform companies that integrate ecosystems, models, and traffic are highlighted, with Alibaba and Tencent being key players in China [6][6]. - Recommendations for terminal scene companies include Meitu, Roblox, and Reddit, while ToB tool companies like Adobe and Figma are noted for their collaborations with large model companies [7][7]. Core Judgments and Outlook - The year 2026 is termed the "third year of the Agent," with high market premiums but uncertain outcomes [7][7]. - The core competitiveness of Agents is shifting from "general dialogue" to "automated workflow execution," particularly in vertical fields like programming and healthcare [7][7]. - Domestic AI applications are advancing rapidly in consumer markets due to closed ecosystems, while international markets are more disruptive in B2B workflow automation [7][7]. - Storage demand is transitioning from training to inference, with SSDs expected to become the foundational infrastructure for the next generation of Agents [7][7]. - The document emphasizes a critical turning point in the AI industry from "model competition" to "application implementation," with clear divergence in paths between China and the U.S. [7][7].

大摩闭门会：科技、金属、亚洲，开门普涨能持续么？ 260119_原文 发言人 00:01 543 on eat。各位投资者朋友，大家上午好。欢迎来到 1 周一度的大摩宏观策略谈。 发言人 00:14 今天我们聚焦开门红已经有差不多三个多礼拜了，到底是否能持续？而且这个开门红还不只是单独针对 中国股市，大家仔细一看，一个是亚洲股市，中国的近邻们，比如说日本、韩国都涨得很好。那么开年 以来中国甚至不是这里面涨得最多的这背后有什么原因，是否能持续？其次，具体一看各类资产价格， 科技股当然涨涨得比较强，但是资源材料股也是涨得比较好的。所以今天我们除了像往常一样，由我们 团队的经济学家郑明来分析经济数据和政策在前端，以及我们的首席策略师罗 A 来分析开门红的持续程 度。特别是上个礼拜监管层开始适度的降温，进行了一定的窗口指导。那背后反映了什么？能不能让这 个牛市更可持续？ 发言人 01:15 而且也重点请来了科技和资源行业的两位分析师 gary。他刚刚在北京上海等地拜访了中国头部的这些 互联网电商科技企业，对 AI 的应用，以及最近又被大家闹得沸沸扬扬的，对一些平台企业的反垄断调 查又浮出水面了。这块 AI 应用赶上了 ...

16 January 2026 China Internet Charlie Peng +81 3 6777 6993 charlie.peng@bernsteinsg.com All's fair in love and AI. One of the more interesting ongoing debates we've had with investors and industry contacts relates to the potential for AI-enabled services to shake up the established order at the top of the Internet funnel. In this note we've outlined some thoughts on the state of play in China, and implications for our coverage. High level, we expect the leading Chinese devs to remain fast followers on mode ...

16 January 2026 Asia Quant Strategy & Asia Semis & Internet Asia Tech in 2026: Near-term momentum intact but broaden the exposure Rupal Agarwal +65 6326 7641 rupal.agarwal@bernsteinsg.com Mark Li +852 2123 2645 mark.li@bernsteinsg.com Robin Zhu +852 2123 2659 robin.zhu@bernsteinsg.com Cheng Zhang, CFA, CQF +852 2123 2636 cheng.zhang@bernsteinsg.com Edward Hou, CFA +852 2123 2623 edward.hou@bernsteinsg.com Charles Gou +852 2123 2618 charles.gou@bernsteinsg.com Min-Joo Kang +852 2123 2644 minjoo.kang@bernstei ...

针对监测发现的348条涉嫌违法违规行为线索，南宁市市场监管局已全部及时分发属地市场监管部门核 查处置，并督促属地加大监管执法力度，依法从严查处各类网络违法违规经营行为。 2025年，南宁市市场监管局市场监测与电子数据取证中心监测范围覆盖淘宝网、天猫、京东、阿里巴 巴、苏宁易购等主流电商平台；专项监测聚焦电动自行车、食品、特殊食品等重点商品。同时，紧盯网 络集中促销、知识产权、广告、公平交易、网络餐饮服务等关键领域。 从监测结果来看，抖音、美团、淘宝、饿了么、京东、1688、微信小程序等平台涉嫌违法违规行为线索 较为突出。其中，抖音67条、美团61条、淘宝45条、饿了么38条、京东30条等。排查出的违法违规类型 主要包括注册证号/备案信息异常、违法广告和虚假宣传、非法改装电动自行车、资质证照违规、无证 经营、违规销售、3C认证异常、标识标注不规范等问题。 本报讯（记者苏昭宇 通讯员何正君）近日，南宁2025年网络销售监测年度报告发布，数据显示，2025 年排查出涉嫌违法违规行为线索348条，有效规范网络集中促销经营行为，维护公平有序的网络交易秩 序。 ...