人民财讯11月28日电，外卖骑士超时免罚迎来新进展。11月28日，记者获悉，淘宝闪购取消超时扣款已 扩大覆盖到60城，年底前将覆盖全国直营城市。 ...

11月28日，记者获悉，淘宝闪购取消超时扣款范围扩大，在12月3日将扩大覆盖至北京、杭州、广州、 武汉、成都、厦门等60城，年底前将覆盖全国直营城市。 （文章来源：第一财经） ...

智通财经记者 郭莎莎 11月26日下午，香港新界大埔屋邨宏福苑多栋住宅楼发生火灾，造成重大人员伤亡，牵动社会各界关 注。 据中国新闻网，截至11月28日上午6时，香港宏福苑火警共造成94人遇难，当中一名遇难者为消防员。 另由消防处处理的伤者共有76人，包括11名消防员。 百度宣布捐赠1000万港元专项资金，用于受灾民众的紧急安置、生活保障及灾后重建。 网易公司决定捐赠1000万港元，用于支持当地紧急救援、过渡安置、灾后社区恢复、居民情绪疏导等各 项工作。 小米集团创始人、董事长兼CEO雷军在个人微博发文表示，香港小米基金会捐赠1000万港元，紧急驰援 香港大埔火灾救援。 快手宣布通过北京快手公益基金会捐赠500万港元，支援香港大埔火灾的紧急救援和灾后恢复工作。 据新华网，香港特区政府民政及青年事务局发言人27日表示，为援助大埔宏福苑的居民，特区政府当日 已成立"大埔宏福苑援助基金"，并投入3亿港元作为启动资金，协助居民及支持各项相关工作。 灾情发生后，多家企业、机构纷纷捐款，紧急驰援香港大埔火灾救援。据记者不完全统计，截至11月27 日24时，已有逾40家企业参与捐赠，物资和捐款总额超6亿港元。 多家互联网科 ...

作者：林更 在内蒙古乌兰察布，冬季夜晚气温一般在-25℃，极寒时-35℃。阿里巴巴崭新的数据中心坐落于此，察 哈尔右翼前旗200多亩的园区可容纳数十万台服务器。这里的寒风降低了能耗成本，延迟低于2毫秒的光 纤通道可直连北京，承接京津冀海量数据存算需求。 不只是阿里巴巴，苹果、快手、华为等50多家企业在乌兰察布签约落地了67个数据中心，总投资2600亿 元。这里的算力运营规模达10.87万P，智能算力占比超90%。 在转型成为数据中心基地之前，乌兰察布盛产土豆、煤炭、石墨、铜、铅。 整个2025年，全球科技巨头的资本开支持续爆发式增长。自2022年11月ChatGPT发布以来，"美股七 雄"市值大幅上涨。财富带动支出，它们向AI和云基础设施投入巨额资金。截至2025年第三季度财报， 巨头们年度资本开支超过4000亿美元，较2024年增长30%-50%，主要受AI训练、推理需求、数据中心 扩容驱动。 巨额投资直接拉动AI服务器和数据中心硬件需求，硬件巨头如英伟达、联想、戴尔、Supermicro等从中 获益显著，AI相关营收占比飙升，预计2025年全球AI服务器市场规模达2520亿美元，同比增长55%。 即便市场 ...

（文/观察者网 张志峰） 自谷歌在2012年发布首款智能眼镜原型并引发全球瞩目以来，AI眼镜的普及之路已超过10年。然而， 概念的热度并未如期转化为大众的日常应用，续航、舒适度和交互效率等核心痛点始终是横亘在行业面 前的挑战。 "之前试过Meta在内的很多AI眼镜，稍微戴一会都会把鼻梁压得特别不舒服，时不时要推一下它还总往 下滑，我不得不找人定做鼻梁贴来缓解，但还是治标不治本。"知名数码UP何同学对于AI眼镜体验不佳 的吐槽，或许也是这款横空出世新"玩具"难以被大众接受的重要因素之一。 与之形成鲜明对比的是，"我今天戴了夸克眼镜一整天，一次都没调整过，它都在牢牢卡在耳朵上，而 且鼻梁没有任何不适感。"阿里智能终端产品负责人晋显在夸克AI眼镜新品发布会上，引用实测体验凸 显产品舒适性。 这或许也是何同学愿意称之为"目前见过最好用AI眼镜"的原因之一。 11月27日，阿里巴巴正式推出夸克AI眼镜两大系列六款单品，以"超强舒适性、换电方案解决续航痛 点、专属优化千问模型+阿里生态"为特点，在硬件创新与场景落地层面实现突破，也让XREAL、 Rokid、小米、雷鸟、李未可、Meta等竞品共同耕耘的AR赛道，正式进入从 ...

文 | 一刻商业，作者 | 大椿，编辑 | 以安 阿里AI to C的野心尽显。 一周前，当阿里启动千问App公测，宣布全面对标 ChatGPT，打造未来的AI生活入口时，市场不乏质 疑之声，认为其在国内AI to C的科技竞赛中丧失先发优势。 仅仅一周之后，千问以一周破千万下载量，平均每分钟近千次的下载速度，打破了大模型增长纪录，开 启了"后发赶超"的新叙事。此前，ChatGPT从2023年5月上线到千万下载，耗时了三个月之久。 图/千问官方微博 受AI相关市场消息刺激，财报发布的前两天，阿里股价一直呈上涨趋势。 这一涨势持续到了财报发布后。最新财报显示，阿里迎来了一个多项指标超出预期的财季，阿里巴巴集 团整体营收达2478亿元，剔除高鑫零售和银泰后，同比增长15%，超出市场预期。 更值得关注的是，阿里财报会上的战略定调，阿里CEO吴泳铭首次强调了新的AI战略：阿里正在AI to B和AI to C两大方向齐发力，to B端，做世界领先的全栈AI服务商；to C领域，基于性能领先的AI模型 和阿里生态优势，打造面向C端用户的AI超级原生应用。 阵仗浩大，雄心可见。但问题也随之而来：外部竞争白热化，ChatG ...

报告日期：2025-11-28 [Table_Chart] 行业指数与沪深 300 走势比较 -20% 0% 20% 40% 60% 11/24 2/25 5/25 8/25 电子(申万) 沪深300 [Table_Author] 分析师：陈耀波 执业证书号：S0010523060001 邮箱：chenyaobo@hazq.com 分析师：李元晨 执业证书号：S0010524070001 邮箱：liyc@hazq.com [Table_IndNameRptType] 电子 行业点评 阿里夸克 AI 眼镜上市，AI 端侧智能硬件赛道值得重视 [Table_IndRank] 行业评级：增持 相关报告 主要观点： ⚫[Table_Summary] 夸克 AI 眼镜上市，阿里布局智能硬件赛道 阿里巴巴 11 月 27 日于北京正式发布了其重磅 AI 智能硬件新品——夸 克 AI 眼镜 S1。 从功能上来看，夸克 AI 眼镜 S1 是"全家桶"式的功能配齐：导航、支 付、识价、问周边、音乐、播客、出行提醒、AI 语音问答、AI 图像问 答、随身翻译、录音纪要、图文备忘、日程管理、提词器、通话、通知 提醒。 核心的 AI ...

【#40多家企业及基金会驰援香港大埔火灾# 合计捐款超6亿港元[话筒]】据界面，企业界及知名人士驰 援香港大埔火灾的名单正在不断扩大。11月27日，据智通财经不完全统计，截至发稿，已有40多家企 业、基金会及知名人士纷纷向香港捐款捐物，合计捐款金额超6亿港元，助力救援与灾后重建。 据央视新闻报道，香港特区行政长官李家超表示，目前，香港新界大埔宏福苑起火的7栋大厦火灾已经 全部受控。 火灾发生后，香港特区政府和社会各界全力展开灭火、人员搜救、伤员救治与善后安抚等工作。来自科 技、汽车、消费、物流等多个行业的多家公司及个人基金会也向香港伸出援手。 除早前智通财经曾报道的安踏、361°集团、腾讯、小米外，27日下午，多家公司密集宣布捐款捐物。例 如阿里巴巴集团宣布启动首批捐款2000万港元，支援香港火灾救援及后续过渡安置、生活物资补给、情 绪疏导等。同时，阿里已启动应急救灾响应机制，旗下菜鸟等业务正调动最近距离食物、被褥等应急物 资，送往受灾地，帮助有需要居民渡过难关。特步集团启动紧急响应，捐赠2000万港元现金及装备，用 于香港大埔受灾同胞灾后安置所需。温氏股份宣布向香港火灾灾区捐赠现金及物资共计4000万港币， ...

Core Insights - Alibaba's CEO, Wu Yongming, emphasizes the necessity for an AI-native consumer-facing super entrance, leading to the launch of the "Qianwen" app, which achieved over 10 million downloads within a week of public testing, making it the fastest-growing AI application to date [2][4] - The AI-to-consumer market is still open for latecomers, particularly for productivity-oriented AI, despite earlier entrants like ByteDance's Doubao and DeepSeek establishing significant user bases [2][5] - Alibaba's strategic investment in AI and cloud infrastructure reached 120 billion yuan over the past four quarters, indicating a strong commitment to AI development despite short-term profit pressures [2][10] Group 1: Market Dynamics - The AI market is becoming increasingly competitive, with major players like Alibaba, Ant Group, and others launching new AI applications to capture consumer interest [4][5] - Current market leaders include ByteDance's Doubao with 172 million monthly active users, DeepSeek with 145 million, and Tencent's Yuanbao with 32.86 million, while Alibaba's previous app had only 3.06 million [4] - Wu Yongming's AGI three-stage theory outlines the evolution of AI capabilities, indicating that the market is transitioning from basic language imitation to more complex task execution [4][5] Group 2: Product Features and User Engagement - Both "Qianwen" and Ant Group's "Lingguang" emphasize usability, with features designed to simplify complex tasks, such as generating applications from natural language in 30 seconds [5][6] - The future vision for "Qianwen" includes integration with various life scenarios like maps, food delivery, ticket booking, and shopping, aiming to create a comprehensive AI life entrance [6][9] Group 3: Infrastructure and Ecosystem - The competition for consumer entry points is not just about products but also about underlying infrastructure and ecosystem capabilities, with Alibaba's full-stack AI strategy being a significant advantage [8][9] - Alibaba has open-sourced over 300 AI models, with total downloads exceeding 600 million, establishing a strong presence in the global AI landscape [8][9] - The company plans to invest over 380 billion yuan in cloud and AI hardware infrastructure over the next three years, indicating a long-term commitment to enhancing its capabilities [9][10] Group 4: Financial Implications - Alibaba's recent financial reports show a significant decline in profits, with a 85% year-on-year drop in operating profit, attributed to heavy investments in AI and cloud infrastructure [10][11] - The CFO noted that while core business revenues are strong, the focus on AI commercialization will lead to fluctuations in short-term profitability [10][11] - Wu Yongming expressed confidence that an AI bubble is unlikely in the next three years, as demand for AI resources is expected to exceed supply [10][11]

Core Insights - Alibaba's CEO Wu Yongming emphasizes the necessity of an AI-native consumer-facing super entrance, leading to the launch of the "Qianwen" app, which achieved over 10 million downloads within a week, surpassing the growth rates of competitors like ChatGPT and DeepSeek [1][3] - The AI-to-C market is still open for latecomers, particularly for productivity-oriented AI, despite Alibaba's late entry compared to ByteDance and Tencent [1][3] Market Dynamics - The AI market is heating up with major players like Alibaba and Ant Group launching competitive products, including the "Qianwen" app and the "Lingguang" AI assistant, which quickly gained significant user engagement [3][5] - Current market leaders include ByteDance's Doubao with 172 million monthly active users, DeepSeek with 145 million, and Tencent's Yuanbao with 32.86 million, while Alibaba's previous app had only 3.06 million [3] Strategic Framework - Wu Yongming's AGI three-stage theory categorizes the development of general artificial intelligence into "learning human," "assisting human," and "surpassing human," with the current focus on "assisting human" capabilities [5] - The emphasis is on productivity-oriented AI rather than entertainment-focused applications, with both "Qianwen" and "Lingguang" highlighting their practical usability [5] Infrastructure and Ecosystem - The competition for AI entry points is not just about products but also involves a comprehensive battle for infrastructure and ecosystem support, with Alibaba's full-stack AI layout being a significant advantage [8][9] - Alibaba has open-sourced over 300 AI models, with downloads exceeding 600 million, establishing itself as a leading provider of open-source AI technology [9] Investment and Financials - Alibaba plans to invest over 380 billion RMB in cloud and AI hardware infrastructure over the next three years, with recent quarterly capital expenditures reaching 120 billion RMB [9][10] - Despite significant investments impacting short-term profits, Alibaba's core business remains strong, with a 10% year-on-year increase in customer management revenue [10] Future Outlook - The success of the "Qianwen" app could lead to increased demand for AI computing power and infrastructure, further driving Alibaba's investments in this area [9][10] - The ability of Alibaba to integrate its computational advantages, open-source influence, and extensive data into a seamless and intelligent consumer entrance will be crucial for its future success [11]