以下文章来源于泽平宏观商学 ，作者泽平宏观商学 泽平宏观商学 . 前沿科技企业实战研学 读万卷书行万里路 2025 年 12 月 用心打造最有品质的实战研学。读万卷书，行万里路。把教室搬到世界上最优秀的企业， 请最优秀的企业家和科学家讲课。顺势而为，把握机遇。正心正念，坚持做长期正确的 事！ 我们期待与更多的企业家朋友们携手同行，共赴 2026 实战研学之旅！ 泽 ZEP 平 INGM 宏 ACR 观 O RE 商 SEAR 学 CH 1-6月日程安排 · CES、英伟达、特斯拉 谷歌、罗宾汉、playground 斯坦福大学、伯克利大学 2月27日 北京 国内头部智驾科技企业 人形机器人 年研学安 型成 11月4日-11日 洛杉矶、拉斯维加斯、旧金山 3月27日-28日 苏州 追觅科技、魔法原子、灵猴机器人 闭门投研会-2026 Al 的中国力量(一) 3月29日 上海 长三角校友会 4月20日-21日 香港 2026 香港 Web3 嘉年华 复星财富、HashKey、港交所 5月22日-23日 1151 11:47:50 深圳 华为、新凯来、江波龙、莫界科技 闭门投研会—2026 Al 的中国力量(二) ...

新华财经上海2月21日电（记者杜康）春节长假期间，以豆包、通义千问、元宝等为代表的国产大模 型，正加速步入中国家庭的日常生活。 凭借自然语言交互能力和较低的交互门槛，大模型成为老年人跨越数字鸿沟的得力助手。从健康咨询到 年夜饭策划，从艺术创作到情感陪伴，在技术浪潮中往往处于"被动追赶"位置的"银发族"，正通过AI应 用更深度地接入数字生活。 今年的"年货清单"里，教父母掌握AI工具，成了一份特别且有温度的礼物。 从"健康顾问"到"年夜饭厨师长" AI走进父母生活日常 在上海工作的孟先生发现，今年回乡过年，60岁的父亲多了一位随时待命的"老友"。 "80多岁的老年人低压70，高压150，应该注意什么？"父亲正对着手机里的"豆包"咨询健康问题。孟先 生感叹道："以前家里人身体不舒服只能干着急，现在大模型扮演了半个'家庭医生'，把体检报告拍给 它，它不仅能解释指标，还能根据情况建议年夜饭菜肴。" AI大模型不再是抽象的科技概念，而是真实落在了年夜饭的灶台等多个具体场景上。 "在这个技术爆发的'清晨'，20岁的年轻人和60岁的老年人，其实是站在同一条起跑线上的。"申琦说。 就在前不久，一场"AI应用扫盲行动"在上海浦 ...

Group 1 - The article highlights the launch of the "Beijing Big Audio-Visual" initiative during the Spring Festival, featuring over 1,100 quality works across nine categories, achieving over 206 million views and clicks [1][41] - iQIYI has prepared a diverse range of high-quality dramas for the audience, including "Tree of Life" and "Wind Passing by," enhancing the cultural experience during the Spring Festival [4] - Various platforms like Youku and Tencent Video are also showcasing new content, with Youku's "Rural Love 18" and Tencent's "Pure Love in the Era" set to attract viewers [9][12] Group 2 - Douyin's Spring Festival gala focuses on intangible cultural heritage, featuring performances that highlight traditional arts and customs [14] - Kuaishou is promoting user-generated content around the Spring Festival theme, encouraging participation through activities like the "Old Iron Special Train" [5][16] - Hongguo Short Drama is offering a rich lineup of micro-dramas, including "You Hide in the Starry Night" and "Wealthy Family," appealing to various audience segments [23][28] Group 3 - Weibo is engaging users with the GoodYear and GoodLanternFestival topics, creating an interactive platform for sharing festive experiences [37][39] - Beijing Broadcasting Television is integrating various events and programs to celebrate the New Year, including the Spring Festival Gala and interactive online activities [10][41]

Core Insights - The article discusses the cyclical nature of significant technological advancements in China, particularly focusing on the emergence of WeChat Red Packets in 2014 and the anticipated rise of AI Red Packets in 2026, highlighting the impact of these innovations on mobile payment and user engagement [2][15][19]. Group 1: Historical Context - In 2014, WeChat introduced the Red Packet feature, which unexpectedly transformed the mobile payment landscape in China, allowing WeChat to catch up with Alipay in user engagement [5][6]. - The introduction of the Red Packet feature led to a massive increase in user engagement, with families participating in Red Packet exchanges during the Spring Festival, significantly boosting WeChat's user base [6][8]. - Over the past twelve years, the mobile internet landscape has evolved, with various platforms competing for user attention during the Spring Festival, showcasing a shift from simple monetary exchanges to more complex social interactions [9][13]. Group 2: Current Trends and Future Outlook - In 2026, the focus shifts to AI Red Packets, with major companies like ByteDance, Alibaba, Tencent, and Baidu investing over 4.5 billion yuan to capture the next generation of user engagement [15][18]. - The strategy for AI Red Packets involves integrating AI with everyday services, such as food delivery and ticket booking, to create a more habitual use of AI technology among users [16][20]. - The article suggests that the next significant technological breakthrough will require a universally relatable scenario, similar to how WeChat Red Packets popularized mobile payments [19][22]. Group 3: User Engagement and Retention - Historical data indicates that while Red Packets attract users, they do not guarantee long-term retention, as evidenced by the low retention rates following significant investments by companies like Baidu and Kuaishou [10][11][12]. - The article emphasizes the importance of user engagement metrics post-Spring Festival, indicating that the success of AI Red Packets will depend on users' willingness to interact with AI technology in their daily lives [24].

Core Viewpoint - The competition for short dramas during the Spring Festival is intensifying, with various platforms striving to capture user attention and gain a competitive edge in the market [1] Group 1: Industry Trends - The Spring Festival short drama competition is marked by significant activity, with major platforms launching numerous new works [1] - Red Fruit Short Drama plans to release over 1,000 new short and comic dramas from February 9 to the Lantern Festival, involving over 60 leading production companies [1] - Kuaishou extends its content supply period from January to March, although at a slower pace compared to Red Fruit Short Drama [1] Group 2: Platform Strategies - Tencent Video launched a "Short Drama Festival" on February 2, featuring both horizontal and vertical short dramas [1] - iQIYI and Mango TV have also created special pages for the Spring Festival short drama event [1] Group 3: Emerging Content Formats - Comic dramas are highlighted as the main attraction for this year's short drama Spring Festival, with 2025 being defined as the "Year of Comic Dramas" by industry insiders [1] - Major internet platforms are increasingly investing in comic dramas, which are benefiting from advancements in AI technology that enhance production capacity and reduce costs [1] - From New Year's Eve to the fourth day of the New Year, Tencent's platform has been releasing over 200 new comic dramas daily [1]

就在前几天，2026年深圳两会落幕，一张成绩单甩出来，直接把天捅了个窟窿：GDP干到了3.87万亿，工业第一城、外贸第一城、研发投入强度第一城，一 口气拿了五个"全国第一" 。 按说这应该是普天同庆，开香槟的节奏。但深圳这次的操作却让人看不懂——它没在外面吹牛，反而转过头来，对着自己"砰砰"开了几枪。 它终于对自己最痛的"软肋"下手了。 以前咱们聊深圳，聊的是华为腾讯大疆，是粤海街道的造富神话，是南山科技园凌晨两点的灯火通明。 但你要和一个在深圳住了十年的老油条聊这些，他会吐掉嘴里的猪脚饭，冷笑一声："关我屁事？我关心的只有一个——我孩子的学位搞定了吗？我家门口 的医院能看三甲专家了吗？我楼下的'电鸡'（电动车）别再堵成狗了吗？" 这就是深圳的AB面。A面是3.87万亿的繁华，B面却是藏着多年的"软肋"——城市虽大，但民生账本太薄；产业虽强，但生活成本太高。 用大白话说，这座城以前像个"钢铁直男"，只顾着赚钱搞事业（产业），却忘了怎么好好生活（民生）。 最典型的例子就是福田区。作为深圳的"亲儿子"、市中心，前些年居然被逼到了"无地可用"的尴尬境地。甚至连腾讯、大疆这些从福田走出去的"亲儿子"， 因为没地方扩建 ...

Core Viewpoint - The competition for short dramas during the Spring Festival is intensifying, with various platforms striving to capture user attention and seize market opportunities [1] Group 1: Industry Trends - The Spring Festival short drama competition has become more heated, with major platforms launching numerous new works to attract viewers [1] - Red Fruit Short Drama has initiated its Spring Festival campaign early, starting from February 9 and planning to release over 1,000 new short and comic dramas [1] - Tencent Video launched a "Short Drama Festival" on February 2, featuring both horizontal and vertical short dramas [1] Group 2: Content Supply and Innovations - Over 60 leading production companies are participating in the release of new works during the Spring Festival [1] - The supply period for Kuaishou's Spring Festival content extends from January to March, although at a slower pace compared to Red Fruit Short Drama [1] - Comic dramas are highlighted as the main attraction for this year's Spring Festival, with the year 2025 being defined as the "Year of Comic Dramas" by industry insiders [1] Group 3: Technological Advancements - The integration of AI technology is enabling comic dramas to overcome production capacity and cost challenges, positioning them as a new traffic blue ocean in the content industry [1] - From New Year's Eve to the fourth day of the new year, Tencent's platform is releasing over 200 new comic dramas daily [1]

Core Insights - The 2026 Spring Festival Gala showcased a strong presence of robots, indicating a shift in the robotics industry towards a survival-of-the-fittest competition, moving from market expansion to a "battle royale" scenario focused on practical applications [1][6][10] Industry Overview - The number of humanoid robot companies in China is projected to increase from over 120 in 2023 to over 320 by 2025, with industry financing exceeding 58 billion yuan [2] - In 2025, the financing amount for robots is expected to reach 38 billion yuan [3] - In January 2026 alone, the financing amount reached 16 billion yuan, indicating a robust investment climate [4] Competitive Landscape - The "Hundred Machines Battle" has transitioned from concept to reality, with notable companies like Yushu Technology and ZhiYuan Robotics leading the charge, while new entrants like UniX AI are rapidly emerging [5] - Major tech firms such as Tencent, Baidu, and JD.com are now investing in the robotics sector, intensifying competition [5] - The Spring Festival Gala served as a platform for companies to gain exposure, with estimates suggesting that each company spent nearly 100 million yuan for a few minutes of airtime [6] Market Dynamics - The global shipment of humanoid robots is expected to reach 18,000 units in 2025, a staggering increase of 508% year-on-year, with Yushu Technology and ZhiYuan Robotics capturing nearly 60% of the market share [7] - The industry is entering a phase of consolidation, with predictions that over 230 companies will significantly reduce in number as competition intensifies [8] Investment Trends - The investment landscape is shifting, with a 31.7% decrease in the number of financing events but a 46.8% increase in average financing amounts, indicating a focus on companies with clear market applications [12] - Companies are increasingly required to demonstrate practical applications of their robots to attract investment [13] Technological Advancements - Companies like UniX AI are innovating with new robot models designed for real-world applications, emphasizing the importance of practical functionality [14] - The cost of humanoid robots currently ranges from 300,000 to 800,000 yuan, posing challenges for widespread adoption [15] - The Chinese robotics industry benefits from a robust supply chain, which is expected to drive down costs significantly in the coming years [16][19] Future Outlook - The integration of advanced manufacturing capabilities and the development of core components are expected to enhance the competitiveness of Chinese robotics firms [17][18] - Predictions suggest that the price of humanoid robots could drop to several thousand yuan within the next few years, facilitating broader market penetration [19] - The industry faces challenges related to data scarcity for training robots, but companies are exploring innovative solutions to overcome these hurdles [20]

Core Insights - The report by iResearch indicates that the total contract value for financial intelligent agents in China will reach 950 million yuan by 2025, with an expected growth to 19.3 billion yuan by 2030, reflecting a compound annual growth rate of 82.6% [2] - Despite the rapid market growth, 96% of applications are still in the initial exploration phase, and by the end of 2026, 20% to 25% of financial institutions may lose confidence due to misadoption of pseudo-intelligent agents [2][3] Market Dynamics - The majority of financial intelligent agent applications are currently in the proof of concept (POC) and pilot stages, with only 4% in agile practice, primarily in operational functions or non-core financial business scenarios [3] - Financial institutions are adopting a "small steps, quick wins" strategy, with project amounts concentrated between 300,000 to 1.5 million yuan, aiming to validate the feasibility and business value of intelligent agents [3] - A significant 53% of financial institutions are willing to invest in exploratory projects but will cut back or halt investments if results fall significantly below expectations [3] Risks and Challenges - The report identifies four main reasons for project failures: insufficient product technology capabilities, lack of cost planning, challenges in replicating lab results in real-world environments, and inadequate organizational adaptability [5] - The perception gap among financial institution clients, particularly among non-technical professionals, exacerbates the risk of misjudging the value of intelligent agents [4] Competitive Landscape - The banking sector leads with a 43% share of intelligent agent projects, followed by asset management at 27% and insurance at 15% [6] - Major players like Ant Group and Volcano Engine are positioned as comprehensive leaders, leveraging their unique strengths in the financial sector to drive intelligent agent development [8][10] Future Trends - The report predicts that by 2027, the RaaS (Result as a Service) delivery model will penetrate 20% of financial institutions, emphasizing the need for firms to establish value measurement standards and pricing mechanisms [12][13] - By 2033, it is anticipated that 50% of financial service scenarios will interact with "intelligent agents," fundamentally transforming the service model and necessitating a comprehensive restructuring of financial institutions' service systems [13]

2025年，中国AI芯片赛道进入深度洗牌期，摩尔线程、沐曦股份等GPU"四小龙"相继上市，国产AI芯片赛道迎来久违的IPO密集窗口期。 在此行业背景下，专注于NPU架构的上海昉擎科技有限公司（简称"昉擎科技"）悄然成为资本竞逐的"黑马"，凭借其创新性技术布局，2025年一年内完成 三轮融资，2026年开年再获新一轮注资，累计融资额突破5亿元，成为国产AI芯片细分赛道的重点关注企业。 昉擎科技成立于2022年9月，注册于上海市浦东新区，属于科学研究和技术服务业，核心聚焦人工智能（AI）计算领域，专注于面向人工智能的多核NPU 计算芯片研发，覆盖算法-架构-芯片全链路优化，核心业务围绕AI计算效率提升展开，同时涉足信息系统集成服务、计算机软硬件批发零售等相关领域， 旨在通过技术创新解决AI大模型发展中的算力痛点，打造适配AI场景的高效计算解决方案。 针对AI大模型参数跃升引发的算力利用率低、能耗飙升、硬件适配难等核心痛点，昉擎科技给出了独特的技术解决方案，创造性地提出"上下文相 关"（context aware）与"上下文无关"（context free）解耦的分布式计算架构。这项核心技术将传统Transform ...