活动上线不到3小时，用户已用千问APP下单超100万单奶茶。 春节，从来都是国民消费习惯养成的黄金窗口，支付宝"集五福"衍生消费券、飞猪的"春节酒店砍价团"、抖音抢占用户时长，均借春节一役定局，巨头们 深谙：过年时的国民注意力，比平时贵十倍。 这份阿里史上最大规模的春节投入，也是2026 年 AI 大战中最激进的福利冲锋，目标很直白：让用户在这个春节彻底忘掉"打开十几个APP比价"的旧习 惯，拥抱"一句话交给AI搞定"的新生活。毕竟，能在春节里扎根的习惯，往后就很难再被松动根基。 互联网二十年，补贴大战如长江后浪推前浪，卷起千堆雪。 外卖江湖的红包雨曾让白领们手机日日震颤；网约车赛道的补贴热潮，也曾创下百亿级的投入量级。浪潮起落之间，有人笑傲江湖，有人黯然离场，而补 贴大战真正的遗产，是让14亿人习惯了"手机点一点，万物到门前"的魔法时代，把数字化的商业逻辑刻进了国民DNA。 2026年的春节，阿里直接换了靶子。2月6日，千问APP正式掷出重磅筹码 ——"春节 30 亿大免单" 高调上线，第一枪便瞄准奶茶赛道，直接请全国人民免 费喝奶茶：活动期间每位用户可领取 21 张 25 元无门槛免单卡，折算下来便是人手 ...

2 月 6 日，阿里千问的"春节 30 亿大免单"正式开始了。 千问红包分享链接被微信屏蔽 活动上线不到 3 小时奶茶订单破 100 万单，超高流量致服务器承压，且微信屏蔽活动链接加剧访问拥堵。 在腾讯元宝、百度文心的分享链接都被微信屏蔽后，阿里千问也喜提"一视同仁"。 千问官方及阿里均快速回应，称正紧急扩容加资源，同时建议用户错峰参与，部分数据延迟问题将核实处理。 千问崩了 千问的活动有点香 ，引发服务器卡顿，大量用户反馈活动页无法点击、弹出"系统开小差"等报错提示。 ...

活动上线后，不少网友反馈，千问明显出现卡顿，"千问请客"页面无法点击，页面信息显示"系统开小 差了，稍后再试吧"。 2月6日，阿里千问上线"春节30亿免单"，发放奶茶免单卡。有网友算了一笔账，如果一家6口人参与千 问免单活动，5分钟就可获得275元的无门槛免单卡，如果用来点蜜雪冰城柠檬茶，可以免费喝84杯。 （文章来源：21世纪经济报道） 值得注意的是，继微信封杀自家腾讯元宝、百度文心助手后，千问的红包分享链接也被微信屏蔽，页面 显示网页存在诱导或误导下载/跳转的内容，需要跳转第三方浏览器访问。 ...

板块方面，大消费板块涨幅靠前。其中，思摩尔国际 6969.HK 涨 8.99%，名创 优品 9896.HK 涨 6.18%，毛戈平 1318.HK 涨 5.29%，达势股份 1405.HK 涨 5.21%， 周黑鸭 1458.HK 涨 4.46%，古茗 1364.HK 涨 3.86%，蜜雪集团（02097.HK）涨 2.9%，青岛啤酒股份 168.HK 涨 2.82%，茶百道 2555.HK 涨 1.75%。商务部等多 部门印发《2026「乐购新春」春节特别活动方案》，鼓励各地增加春节期间消费 品以旧换新补贴数量，加大线下实体零售支持力度，在一定程度上提振了市场 信心。 港股晨报 2026 年 2 月 6 日 国投证券（香港）有限公司 • 研究部 1. 国投证券国际视点：热门交易全面退潮，裁员潮引发衰 退担忧 昨日，港股三大指数集体录得上涨。其中，恒生指数涨 0.14%，国企指数涨 0.5%， 恒生科技指数涨 0.74%。大市成交金额 3,151.12 亿元，主板总卖空金额 650.73 亿元，占可卖空股票总成交额比率为 22.99%。南向资金北水方面，港股通交易 净流入 249.77 亿港元。港股通 10 ...

2月6日，阿里千问App"春节30亿免单"活动上线。 图片来源：千问官方微博 记者体验千问App发现，用户升级至最新版千问App后，即可立即获赠一张价值25元的免单卡，千问App聊天框也会自动出现帮点一杯奶茶的口令，用户 授权淘宝闪购权限和地址后，即可获得附近推荐的奶茶店铺。 此外，如果用户分享拉新成功，还能再获赠额外一张免单卡。不过，微信目前已经限制了千问App的二维码分享链接，口令分享目前则不受限制。 服务器的响应能力似乎也面临挑战。记者尝试将"点奶茶"的指令改为"点咖啡"发给千问App，就遇到了"障碍"——页面显示："当前千问请客活动参与人数 较多，正在努力处理中，请稍后再试。" 此前，阿里宣布千问App将联合淘宝、闪购、高德、盒马、飞猪等生态业务，发起春节请客计划，目的是邀请用户感受AI时代的全新生活方式。首轮请客 计划从"一杯1分钱的奶茶"开始。中国证券报记者从阿里获悉，活动上线后不到4小时，用户用千问App已下单超200万单奶茶。 活动期间，每个人最多可领取21张无门槛的25元免单卡，相当于525元，还有机会抽取价值10000元的千问AI生活卡。活动页面显示，第二波福利将于2月 13日开启，用户可 ...

NEWS ◆ 苹果新动向 ◆ 库克官宣苹果进军 AI 硬件，首款 AI 眼镜有望今年发布 2 月 6 日消息，科技媒体 Cult of Mac 今天（2 月 6 日）发布博文，报道称在苹果本周召开的全员会议 上，公司首席执行官蒂姆 · 库克（Tim Cook）首次确认，正积极筹备一系列由 AI 驱动的全新产品类 别。 库克并未在会议上展示具体原型机，但向员工强调了 AI 为苹果带来的全新机遇。该媒体认为这一表态 证实了业界长期的猜测：苹果正试图通过人工智能技术，重新定义用户与设备的交互方式，逐步摆脱对 传统触摸屏的依赖。 援引博文介绍，在 AI 设备方面，基于目前相关爆料，目前至少有 AI 眼镜和 AI 胸针两款产品。 该媒体报道称苹果内部正加速研发 AI 智能眼镜，被视为接替 iPhone 的关键设备之一。首代产品预计不 配备显示屏，而是通过集成摄像头、麦克风和扬声器，实现电话接听、音乐播放、实时翻译及逐向导航 等功能。 消息称苹果会在 2026 年年底前展示该产品的初版概念，然后在 2027 年发售。至于带有显示屏的第二代 版本，则可能要等到 2028 年才会问世。（新闻来源：IT之家） 体量未达监管门槛 ...

Investment Rating - The report indicates a positive investment outlook for Chinese overseas investments, with a focus on high-quality growth and strategic cooperation in global markets [5][12]. Core Insights - Chinese enterprises' overseas direct investment (ODI) reached USD 174.4 billion in 2025, marking a year-on-year increase of 7.1%. Non-financial ODI was USD 145.7 billion, up 1.3% [12][25]. - Investment in countries participating in the Belt and Road Initiative (BRI) saw a significant increase, with non-financial ODI amounting to USD 39.7 billion, a growth of 17.6% [25]. - The report highlights a notable recovery in overseas mergers and acquisitions (M&A), with announced transaction amounts reaching USD 43.6 billion, a nearly 40% increase year-on-year [36][39]. - The global economic landscape is characterized by resilience despite challenges, with a projected growth rate of 3.1% for 2026 [5][59]. Summary by Sections 1. Overview of Chinese Overseas Investment in 2025 - The report outlines that China's GDP grew by 5% in 2025, surpassing 140 trillion RMB for the first time [5]. - The overall ODI growth reflects a robust performance amid global economic uncertainties [5][12]. 2. Key Highlights of Chinese Enterprises Going Abroad - Direct investment in BRI countries accounted for 27% of total ODI, an increase of 4 percentage points from the previous year [25]. - New contracts signed in overseas projects reached USD 289.2 billion, up 8.2%, with completed turnover at USD 178.8 billion, a 7.7% increase [51]. 3. Analysis of Overseas M&A - The number of M&A transactions was 429, a slight decrease of 1%, but the value of large transactions (over USD 1 billion) increased significantly [36][39]. - The most active sectors for M&A included consumer goods, TMT (Technology, Media, and Telecommunications), and mining and metals [39][42]. 4. Factors Influencing Overseas Investment in 2026 - The report anticipates continued high-quality outbound investment, driven by China's strategic focus on expanding domestic demand and optimizing investment structures [5][59]. - Geopolitical dynamics and trade relations, particularly with the U.S. and European countries, are expected to shape investment strategies [5][66]. 5. Policy Support for Overseas Investment - The report emphasizes the Chinese government's commitment to enhancing support for enterprises going abroad, including the establishment of a comprehensive service system for overseas operations [17][20].

微信界面则提示：网页包含诱导分享、关注等诱导行为内容，请长按网址复制后使用浏览器访问。此 前，微信已经使用同样的方式封禁了腾讯元宝和百度文心的红包链接。 2月6日，阿里千问APP正式开启"千问请客瓜分30亿"活动。用户如果使用相关链接邀请新用户，还可以 获得更多奖励。但观察者网注意到，若把该链接发送至微信，将会被微信平台屏蔽。 此外，观察者网还注意到，目前用户如果在千问APP点击分享活动到微信，自动复制的文本已经修改为 了口令形式，与元宝和文心的模式相同。 此前，对于封禁元宝的红包分享链接，微信官方曾回应称，其相关春节营销活动存在通过"做任务""领 红包"等方式诱导用户高频分享链接到微信群等场景，干扰平台生态秩序、影响用户体验、对用户造成 骚扰。经官方研判，对元宝的违规链接进行处置，限制其在微信内直接打开。 本文系观察者网独家稿件，未经授权，不得转载。 ...

Core Viewpoint - Tencent has launched an independent comic drama app named "Fire Dragon Comic Drama," which offers free content and short episodes lasting 1-3 minutes, indicating a strategic move to compete in the emerging AI comic drama market [1][3]. Group 1: Tencent's Strategic Moves - Tencent's new app "Fire Dragon Comic Drama" is part of a broader strategy to enter the AI comic drama segment, which is gaining significant commercial potential [3]. - The company has also engaged in content procurement, partnering with Chinese Online for a collaboration worth 23.2 million yuan (approximately 3.5 million USD) to produce animated micro-dramas [1]. - The app's design mimics popular short video platforms, focusing on vertical information flow, which aligns with current user preferences [3]. Group 2: Market Context and Competition - The AI comic drama sector is rapidly growing, with projections indicating that the core market for online literature in China will reach 59.46 billion yuan (approximately 8.5 billion USD) by 2025, growing at a rate of 20% [3]. - Major competitors like ByteDance and Baidu have also launched their own independent comic drama apps, indicating a competitive landscape where multiple giants are vying for market share [3]. - The industry is entering a phase of intense competition, with various platforms upgrading their support for comic dramas, suggesting a "battle of the titans" in this niche [3][4]. Group 3: Implications for Tencent - Tencent's CEO, Ma Huateng, has acknowledged the impact of short dramas on Tencent Video, suggesting a shift towards ad-driven products, which may include both short and comic dramas [6][8]. - The company aims to leverage its strengths in high-quality content to differentiate itself in the crowded market, focusing on premium offerings rather than competing solely on volume [8][17]. - The loyalty of users attracted to comic dramas may provide Tencent with a new growth avenue, as this demographic has not been fully captured by traditional short dramas [10][11].

Investment Rating - The investment rating for the computer industry is "Positive" (maintained) [4][13] Core Insights - The report highlights the emergence of autonomous agents, marking the beginning of the third scaling phase in the industry. Companies like Anthropic are revising their revenue expectations upwards, with projections of $18 billion and $55 billion for 2026 and 2027 respectively. The penetration of agents is expected to drive significant revenue growth [6] - The report notes a decline in global web traffic share for ChatGPT, which fell to 64.5% in January 2026, a decrease of approximately 20 percentage points compared to January 2025. This shift indicates a transition in growth narratives towards mixed revenue models [6] - The report emphasizes the potential for AI-native products to emerge rapidly, amplifying short-term industry volatility while validating long-term trends. It anticipates a significant increase in the "Token->ARR" conversion for agents in 2026, suggesting a robust investment opportunity in high-growth sectors [6] Summary by Sections Section: Market Performance - The report discusses the performance of the computer sector, indicating a positive outlook based on recent developments and market trends [2] Section: Autonomous Agents - The report details the advancements in autonomous agents, including their increasing role in B2B applications and the significant rise in token consumption compared to traditional chat models. The penetration of these agents is seen as a key lever for revenue growth for companies like Anthropic [6] Section: Consumer Productivity - OpenClaw has gained popularity, driving a surge in Mac mini purchases. The report notes that consumer sensitivity to model performance is low, while sensitivity to interaction is high, indicating a shift in user engagement with AI tools [6] Section: Group Intelligence - The emergence of Moltbook, an agent-based platform, is discussed as a preliminary form of group intelligence. The report highlights the initial chaotic nature of agent interactions and the potential for new business models to develop from these early stages [6] Section: Investment Strategy - The report suggests focusing on sectors with clear industry trends and high growth certainty, recommending investments in domestic large models, agents, infrastructure, and computing power companies. It advises on the importance of reverse investment strategies and forward-looking positioning due to industry volatility [6]