智通财经网·2026-01-13 02:51Group 1 - The core viewpoint of the report is that artificial intelligence will remain the primary theme in China's internet market through 2026, followed by the defensive entertainment sector and the rapidly growing tourism industry [1] - The report notes that the market has factored in recent consumer sentiment and monthly Gross Merchandise Volume (GMV) growth, with a year-on-year GMV increase of 7.5% in the third quarter of September, and expected growth of 4.9% and 1.5% in October and November respectively [1] - The report identifies Alibaba-W (09988) and Tencent Holdings (00700) as the top picks in the internet sector, followed by Baidu Group-SW (09888), Trip.com Group-S (09961), NetEase-S (09999), Kuaishou-W (01024), Tencent Music-SW (01698), JD Group-SW (09618), and Meituan-W (03690) [1] Group 2 - The focus in the fast e-commerce sector is shifting from low Average Order Value (AOV) orders to high AOV orders, as the latter offers better unit economics under healthy industry conditions [1] - Kuaishou's AI-generated model "K可灵" has launched several new products, and analysis indicates that its motion control feature has gained popularity in overseas markets since late December and into January, with expectations that Kuaishou's fourth-quarter performance will meet expectations [1]