据第一财经，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。 图源：视觉中国 今年以来，淘宝闪购持续推广服务分机制，以正向激励和技术牵引骑士服务，通过好的履约加分、超时送达扣分的方式，让骑士收入不再因超时受影响， 多劳多得，优劳优得，实现骑士安全、履约效率与用户体验的协同提升。具体规则上，面向众包骑士，淘宝闪购积分制方式更科学、更温和，形成更有效 的弹性约束。在70分的基础设计上，顺利送达、没有违规就有加分，超过75分有额外奖励；让消费者体验受损、影响履约的行为会扣分，对超时来说，1 次最多扣2分。 此前报道>> 近日，有网友发文称，饿了么App最新内测版本已更名为"淘宝闪购"，版本号更新至12.0.1。 消费者王先生（化名）称："我11月3日收到内测邀请，饿了么App更新后版本号变为12开头，安装完毕名称变为淘宝闪购，配色也从蓝色变成了橙色。" 11月4日，红星资本局重新下载饿了么App，logo主色调是蓝色，但下方有淘宝闪购字样。 第一财经记者查询各大手机应用平台发现，目前饿了么app图标中已显示"双11 ...

样板观察:上海1ms城市 I |x 重构Al时代城市发展新范式 /P16 光网络赋能广域AIDC互联 技术突破、产业协同与未来展望 /P28 通信世界网消息（CWW）人工智能作为引领新一轮科技革命和产业变革的战略性技术，已广泛应用于 各行各业，深刻改变人类生产生活方式。本文以中美科技巨头的投资布局为切入点，通过梳理其资本开 支、股权投资、研发支出数据及相关案例，分析当前人工智能的发展与应用特点，探讨中美人工智能发 展路径的异同，并围绕投资布局、行业发展、企业监管等维度展望未来发展趋势。 科技巨头投资人工智能概况 科技巨头拥有强大的基础设施与计算能力、丰富的数据资源以及人工智能技术人才，对研发人工智能技 术、建设高效人工智能设施、布局人工智能行业应用均发挥着重要作用。斯坦福报告显示，2024年产业 界主导开发的人工智能重要模型占比高达90%，超过2023年的60%，其中，OpenAI、谷歌、阿里巴巴等 科技企业研发的人工智能模型入选2024年"最值得关注模型"。同时，科技巨头的资本投入也极大地支持 了人工智能技术的发展与应用。 …… OMMUN C A T = O N 5 D C l W O R 总第980期 ...

Core Insights - The article discusses the evolution of companies like Google and Alibaba in the face of rapid technological changes, emphasizing the need for continuous innovation to avoid obsolescence [1][2] - It highlights a pivotal moment for Google, termed the "Google Moment," where the company successfully transitioned from a search engine to an AI-focused entity, significantly boosting its market value [2][6] - Alibaba is also striving to reach its own "Google Moment" by accelerating its AI transformation, particularly through the launch of its Qwen series models and applications [5][6] Google’s Transformation - Google faced challenges after the release of ChatGPT in late 2022, initially being perceived as falling behind in the AI race [1][6] - The launch of Gemini 3.0 allowed Google to regain its competitive edge, with its stock price doubling and market capitalization nearing $4 trillion [1][6] - The strategic shift involved consolidating AI research efforts and focusing resources on developing the Gemini model, leading to significant advancements in AI capabilities [7][8] Alibaba’s AI Strategy - Alibaba has been transitioning towards AI since the release of its Qwen 3.0 models, with significant user engagement reflected in the rapid download rates of its applications [5][6] - The return of key founders has been crucial in reshaping Alibaba's strategy, focusing on AI as a core component of its business model [7][8] - Alibaba's Qwen models reportedly match the performance of leading AI models while significantly reducing deployment costs, with over 600 million downloads to date [8][9] Competitive Landscape - Both Google and Alibaba are navigating challenging market conditions, with Google experiencing slowed cloud business growth and Alibaba facing its lowest revenue growth since its IPO [6][9] - The strategic focus for both companies is on enhancing their AI capabilities to improve user engagement and operational efficiency in their respective ecosystems [9][10] - The competition in the AI space is intensifying, with a shift from simple conversational AI to more complex task execution capabilities [11][12] Future Directions - The article suggests that the future of AI will involve integrating AI capabilities into real-world applications, moving beyond mere information retrieval to executing tasks [12][13] - Google’s Gemini is positioned to transform its search functionality into a more interactive and task-oriented service, while Alibaba aims to unify its various services through AI [12][13] - The ultimate goal for both companies is to establish a comprehensive AI ecosystem that can seamlessly integrate various services and enhance user experience [14][19]

Core Points - The article highlights the collective response of businesses from mainland China and Hong Kong, which have donated over 1.36 billion HKD to support victims of the Tai Po fire [1][3][8] - The donations reflect a strong sense of solidarity and compassion among the communities [3][9] Mainland Enterprises Contributions - Major contributions include: - Wen's Group: 40 million HKD in cash and materials - Tencent, Anta Group, Alibaba Foundation, and Bosideng Group: each donated 30 million HKD [4][10] - Other notable donations include: - China Hongqiao: 30 million HKD - Xtep Group, Alibaba, Li Ning Group, SF Express, and others: each contributed 20 million HKD [10][11] Hong Kong and International Contributions - Significant donations from Hong Kong entities include: - Jockey Club: 170 million HKD - Li Ka Shing Foundation: 80 million HKD for emergency aid [6][12] - Other contributions include: - Hong Kong Charity Fund: 50 million HKD - Lee Shau Kee Foundation and others: each donated 30 million HKD [12][13] Overall Impact - The funds and materials raised will provide urgent assistance and support for the reconstruction efforts for the affected communities [8][9]

Group 1: Google AR Glasses Release - Google, in collaboration with XREAL, plans to officially release the AR glasses Project Aura in December 2025, with a market launch expected in 2026. This device will be the first official AR terminal equipped with the Android XR system and will integrate Google's Gemini AI technology for enhanced environmental semantic understanding and intelligent interaction [1][2] - Google has initiated two AI glasses projects, which are currently in the POC (Proof of Concept) stage, focusing on selection and ID design. The hardware manufacturing is being handled by Foxconn, with reference designs from Samsung and chips supplied by Qualcomm [1] Group 2: Competitors in the AI Glasses Market - Alibaba has launched its first AI glasses powered by its self-developed Qianwen model, entering the consumer-grade AI wearable market. The glasses are priced at 1899 yuan and are deeply integrated with Alibaba's ecosystem, including services like Alipay and Taobao [3] - Baidu introduced its first Xiaodu AI glasses, weighing only 45 grams, featuring first-person shooting and audio-visual translation capabilities, with a standby time of 56 hours. These glasses are expected to be priced above 2000 yuan and launched in the first half of 2026 [3] - Samsung announced plans for AI glasses, collaborating with Google and fashion eyewear brands. The smart glasses are expected to debut in early 2026, featuring capabilities to display digital content and recognize user actions [3] Group 3: Market Potential and Forecasts - Tianfeng Securities highlighted the vast global user base for glasses as a natural market for the intelligent upgrade of AI glasses, combined with the current low penetration rate of AI, indicating significant growth potential for the AI glasses market. Wellsenn XR predicts that global AI+AR smart glasses sales could reach approximately 1.4 billion units, corresponding to a 70% penetration rate at maturity [5] - Omdia forecasts that the shipment of AI glasses, driven by companies like Google and Xiaomi, will reach 10 million units for the first time next year [6] Group 4: Historical Performance of Industry Leaders - Oakley, a well-known eyewear brand, has partnered with tech giant Meta to develop smart glasses, with the results expected to be announced on June 20, 2025. This collaboration has positively impacted the smart glasses concept sector, leading to stock price increases for companies like Inpai and Jierong Technology [7]

Group 1: Economic Insights - The Federal Reserve's Beige Book indicates that while price pressures in the U.S. remain, they are relatively mild, reducing concerns about runaway inflation [1] - The cooling job market and declining consumer spending further confirm the weakening momentum of the U.S. economy [1] - Analysts suggest a significant increase in the probability of a 25 basis point rate cut by the Federal Reserve in December [1] Group 2: Stock Market and Investment Strategies - JPMorgan has upgraded Chinese stocks to "overweight," citing a higher likelihood of substantial gains next year compared to potential downside risks [2] - The recent adjustment in Chinese assets provides an attractive entry point for investors, especially after a nearly 6% pullback in the MSCI China Index in the fourth quarter [2] - The MSCI China Index has risen over 30% since early April, following recommendations to buy Chinese stocks during market turbulence [2] Group 3: IPO Market Trends - Ernst & Young forecasts that the A-share IPO market will gradually return to normalcy by 2026, with over 100 companies expected to go public and raise more than 110 billion yuan [3] - The report emphasizes a controlled pace of IPO issuance, influenced by macroeconomic conditions, market liquidity, and the quality of companies seeking to list [3] Group 4: Corporate Developments - Meta is negotiating with Google to install TPU AI chips in its data centers, planning to rent TPU computing power from Google Cloud starting next year [4] - Alibaba reported Q2 revenue of approximately 247.8 billion yuan, with a 34% year-on-year growth in its cloud segment, driven by strong AI demand [5] - Vanke announced a bond extension for its 20 billion yuan domestic bond, indicating a shift towards market-based debt resolution strategies [6] Group 5: Fundraising and Market Activity - The popularity of dividend-themed funds has surged, with nine new funds launched in November, raising a total of 6.615 billion yuan, marking a monthly record for the year [8] - Institutional investors showed strong interest in the offline allocation of Molybdenum Thread, with 94 public funds participating and a total allocation of 22.74 million shares [9] - Soul App has submitted a listing application to the Hong Kong Stock Exchange, with Tencent as a major shareholder, and is expected to generate significant revenue growth driven by AI services [11] Group 6: Company Performance and Future Outlook - Avita Technology has filed for an IPO in Hong Kong, having raised over 19 billion yuan in previous funding rounds, indicating strong market confidence in its growth prospects [12] - Avita's sales reached a record high of 13,506 units in October, with projected revenues of 5.645 billion yuan and 15.195 billion yuan for 2023 and 2024, respectively, reflecting a 169.16% year-on-year growth [13]

Core Insights - Meituan reported a significant quarterly loss due to intense competition with Alibaba, leading to modest revenue growth and eroded margins [1][3] Financial Performance - Revenue for the quarter reached 95.5 billion yuan (approximately US$13.3 billion), marking a 2% year-on-year increase but falling short of analysts' expectations of 97.5 billion yuan [1] - The company experienced an operating loss of 19.8 billion yuan, a stark contrast to the operating profit of 13.7 billion yuan reported in the same quarter last year [2] - Net loss amounted to 18.6 billion yuan, compared to a profit of 12.9 billion yuan in the previous year, exceeding analysts' predictions of a 14.8 billion yuan loss [3] Competitive Landscape - The loss is attributed to a price war with Alibaba, where Meituan has been heavily subsidizing products like milk tea and lunchboxes to attract consumers [3] - Meituan's core local-commerce segment, which includes food delivery and in-store business, saw a revenue decline of 2.8% to 67.4 billion yuan, with an operating loss of 14.1 billion yuan due to intensified competition [6] - The new initiatives division, covering grocery retail and the overseas delivery service Keeta, reported a revenue increase of 15.9% to 28 billion yuan, although its operating loss widened by 24.5% to 1.3 billion yuan [7] Market Outlook - The company indicated that profit pressure is expected to continue in the short term, with ongoing heated market competition likely to result in persistent operating losses into the fourth quarter [5]

Core Viewpoint - The recent changes in Taobao Flash Purchase's delivery rider penalty system aim to enhance rider income stability and improve service quality by eliminating penalties for late deliveries, thereby fostering a more positive working environment for riders [1][3]. Group 1: Policy Changes - Taobao Flash Purchase has expanded the cancellation of late delivery penalties to 60 cities, with plans to cover all direct-operated cities by the end of the year [1]. - The new scoring system allows riders to earn points for successful deliveries and provides a more flexible penalty system for late deliveries, where a maximum of 2 points can be deducted for delays [1][3]. Group 2: Rider Support Initiatives - The platform has introduced various initiatives to support riders, including a "knock and enter" service, collaboration with property management and Alipay to optimize community access, and enhancements to delivery route efficiency, achieving a 90% route optimization rate [3]. - Additional measures include fatigue management rules, cash rewards for safe riding, and a comprehensive upgrade of the rider incentive and support system, including free uniform updates and full coverage of health insurance [3][4]. Group 3: Professional Development - Taobao Flash Purchase aims to elevate the status of delivery riders to a modern service profession with skill certification, growth opportunities, social security, and professional dignity through its various initiatives [4].

Group 1 - The core opportunity in the internet and media sectors for 2025 is centered around AI revaluation, particularly in cloud computing, and the globalization and youth-oriented trends in self-consumption, such as trendy toys, music, and concerts [3][4] - AI cloud capital expenditure (capex) is expected to expand in its second year, with a focus on return on investment (ROI) from AI investments, making capex/operating cash flow a key metric for investors [3][4] - Major companies to watch in the AI cloud space include Alibaba, Baidu, and Kingsoft Cloud, which are focusing on domestic production and infrastructure [3][12] Group 2 - The AI application landscape is shifting from conceptual discussions to a focus on commercial viability, with significant developments in AI advertising and video monetization expected in 2026 [3][4] - Tencent, Bilibili, Meitu, Kuaishou, and Focus Technology are highlighted as key players in the AI application ecosystem, with a particular emphasis on the monetization of chatbot applications and the evolution of AI video tools into community platforms [3][4] - The gaming sector is seeing structural opportunities driven by Generation Z and international expansion, with a focus on companies like Giant Network, Century Huatong, and Xindong Company [3][4] Group 3 - The self-consumption trend is expected to continue, with gaming, music, and trendy toys being key areas of growth, particularly as the market adjusts post-2025 [3][4] - The video sector is anticipated to reach a turning point, with policy stabilization and diverse monetization strategies being crucial for growth [3][4] - Companies such as Mango Super Media, Shanghai Film, and Reading Group are positioned to benefit from these trends [3][4] Group 4 - The report indicates a recovery in companies like Focus Media, Vision Source, and educational publishing firms, suggesting a positive outlook for these sectors [3][4] - The report emphasizes the importance of continuous performance and valuation adjustments in the context of evolving market conditions [3][4] Group 5 - The domestic cloud computing market is witnessing increased capital expenditure from major internet companies, with Alibaba and Tencent leading the charge [18][19] - The report highlights the importance of measuring the health of cloud investments through the capex/operating cash flow ratio, with Tencent's ratio being notably lower than its peers [19][29] - AI-driven cloud services are expected to maintain higher profit margins compared to traditional cloud offerings, with a focus on internal workload efficiencies [29][30] Group 6 - The report outlines the competitive landscape of AI applications, noting that Chinese companies are making significant strides in the global market, particularly in productivity tools and content generation [34][35] - The emergence of ChatGPT as a multi-functional platform is reshaping the AI application ecosystem, with significant implications for user engagement and commercial applications [35][39] - Advertising remains a critical area for AI commercialization, with companies like Meta, Tencent, and Bilibili leveraging AI to enhance ad performance and efficiency [43][49]

Group 1 - Multiple companies have pledged significant donations to support fire relief efforts in Hong Kong, demonstrating corporate social responsibility and community support [1][2][3][4][5][6] - China Resources Group has donated 20 million HKD for emergency rescue and medical assistance for victims [1] - Anta Group has committed a total of 30 million HKD, including 10 million HKD in cash and 20 million HKD in cold-weather gear for disaster relief [1] - Xtep Group has announced a donation of 20 million HKD in cash and equipment for disaster recovery efforts [1] - Bosideng has pledged 10 million HKD in cash and 20 million HKD in supplies for post-disaster support [2] - Nongfu Spring has donated 10 million HKD in cash and 5 million HKD in supplies for emergency relief and recovery [2] - Heytea has contributed 5 million HKD for resident support and rebuilding efforts [3] - Alibaba has initiated a donation of 20 million HKD and activated an emergency response mechanism to provide essential supplies [5] Group 2 - Companies are actively coordinating with local organizations to ensure timely delivery of aid and resources to affected residents [5][6] - Meituan's delivery platform Keeta has donated 5 million HKD for transitional housing and community recovery [5] - JD Group has mobilized resources to provide essential supplies and meals to affected individuals and rescue workers [5] - Ctrip Group has pledged 10 million HKD to assist affected residents and communities [5] - Various companies are continuing their support efforts, indicating a sustained commitment to aid the recovery process [6]