格隆汇11月25日丨豫能控股(001896.SZ)在互动平台表示，一是公司不涉及数据处理及大数据开发业 务。二是智慧电厂数据平台建设成效显著，既大幅提升设备运行可靠性，也为公司经营决策提供精准数 据支撑；新能源管控平台深度融合物联网与AI技术，实现光伏等场站数据实时采集传输，通过AI赋能 显著提升功率预测精度与设备故障预警效能，助力绿色高效运营。三是公司子公司豫煤交易中心在数字 化转型进程中，积极探索并运用了符合行业发展趋势的技术手段，旨在提升运营效率与服务质量，通过 数字化手段进行赋能，主要围绕煤炭产业链相关业务开展工作，致力于为产业链参与者提供专业服务。 四是公司于2025年10月10日召开第九届董事会第二十八次会议审议了《关于全资子公司转让其下属子公 司股权暨关联交易的议案》，根据国企深化改革及优化资源配置、集中优势发展核心主业的战略安排， 公司全资子公司河南煤炭储配交易中心有限公司计划将资金和管理等资源集中投入到其核心主业，业务 拓展上将重点发展以统筹采购为基础、同步拓展物贸+增值服务，延伸煤炭产业链的业务，因此退出非 主业中原e购平台的运营业务。 ...

Core Viewpoint - The company, Boji Pharmaceutical, has not yet developed its own drugs but is providing clinical research services for various treatments related to influenza and other acute respiratory infections, leveraging AI technology to enhance efficiency and quality [1] Group 1 - The company is currently not engaged in the independent development of related drugs [1] - Boji Pharmaceutical offers clinical research services targeting different patient populations for treatments of type A influenza, common influenza, and other acute upper respiratory infections [1] - The company is actively utilizing AI technology to improve the efficiency and quality of its services [1]

Core Viewpoint - Sichuan Changhong officially launched the "Shanshuijian" air conditioner, aiming to transition air conditioning from a "temperature and humidity regulator" to an "active health air creator," promoting a new lifestyle paradigm of "light home care" [1] Group 1: Product Features and Innovations - The "Shanshuijian" air conditioner features an AI collaborative system that allows for one-click control of multiple parameters such as temperature, humidity, fresh air, negative oxygen ions, and cleanliness, creating an indoor "microclimate" close to natural environments [1] - The air conditioner boasts an APF energy efficiency ratio of 5.6, significantly exceeding national一级能效 standards, with potential electricity savings of up to 42% [1][2] - The product can generate up to 136 million negative oxygen ions per cm, and it demonstrated rapid air purification capabilities in a smoke-filled environment, restoring clarity in just over 2 minutes [2] Group 2: Market Performance and Strategy - The domestic air conditioning market is experiencing growth due to high temperatures and "trade-in" subsidy policies, with retail volume expected to reach nearly 45 million units in the first half of 2025, a year-on-year increase of 19.7% [2] - Retail sales are projected to exceed 140 billion yuan in the same period, reflecting a 21.2% year-on-year growth [2] - Sichuan Changhong's air conditioning business produced approximately 8.8 million units and sold about 8.38 million units in the first half of 2025, achieving revenue of approximately 11.6 billion yuan, a year-on-year increase of 35.49% [3] Group 3: Business Expansion and User Engagement - The company has initiated a "User Experience Officer Co-creation Plan," inviting partners nationwide to experience the new product for free, with feedback directly contributing to product optimization [2] - Sichuan Changhong operates four production bases in Mianyang, Zhongshan, Indonesia, and Pakistan, covering a range of products including household split air conditioners and commercial central air conditioning [2] - The company is focusing on technological innovation and rapid product iteration to meet market demands, enhancing user experience through integrated online and offline operations [3]

0:00 一段仿若亲人的求救语音、一场假冒名人的带货直播、一次精准盗刷的无声侵袭——AI技术迅猛发展 的同时，也正被某些不法分子悄然扭曲为犯罪的"利器"。面对技术发展，我们既不能因担忧恐惧而扼杀 创新，也不可因纵容而放任乱象。唯有构建起集法律、技术与公众素养为一体的治理生态，才能让科技 真正服务于人，而非欺骗于人。 记者：张宝亢 编导：季晓庄 新华社音视频部制作 ...

Core Insights - Ant Group's Sesame Enterprise Assistant launched the "AI Business Report" feature focusing on the chain restaurant industry, providing daily business reports for small and micro enterprises to enhance information acquisition efficiency and risk response capabilities [1] Group 1: Product Features - The "AI Business Report" generates customized daily reports covering macro policies, industry competition, competitor dynamics, and public opinion monitoring [1] - The feature allows business owners to access reports through the Alipay app, either by searching for "Sesame Enterprise Credit" or by clicking on "AI Smart Selected Hot News" [1] Group 2: Target Audience and Pain Points - Large enterprises typically have strategic departments or professional consulting services, while small and micro enterprises often struggle to filter vast amounts of information, leading to inefficiencies and missed critical content [1] - The "AI Business Report" addresses this pain point by integrating a self-built industry cognition framework with AI technology [1] Group 3: Technology and Functionality - The feature utilizes deep analysis based on enterprise profiles to accurately capture relevant dynamics from the internet [1] - It employs large models for knowledge extraction and interpretation, transforming raw information into actionable business insights [1] - Reports are automatically generated and pushed to users, shifting the paradigm from "people searching for information" to "information finding people" [1] Group 4: Competitive Monitoring and Risk Management - The tool can automatically observe competitors' store expansions, new product launches, and marketing activities, allowing businesses to adjust strategies flexibly [2] - It continuously monitors public sentiment, identifying potential risks such as health safety and service complaints, and provides timely alerts and analyses of events' impacts on the user's business [2]

Group 1 - SuperX appointed Ken Lau as Chief Strategy Officer (CSO) and Executive Director, effective December 1, 2025 [1] - Ken Lau has 26 years of experience at Intel, where he led a team of over 1,500 and established a data center engineering and customer support system in the Asia-Pacific region [1] - After leaving Intel, Ken Lau served as CEO of an AI ASIC startup, gaining practical experience in AI computing and market commercialization [1] Group 2 - SuperX views Ken Lau's experience as a strategic bridge connecting cutting-edge innovation in Silicon Valley with advanced manufacturing resources in Taiwan [2] - Recently, SuperX appointed former Dell Greater China Chairman Huang Chenhong as Chairman of the Board, Executive Director, and CEO [2] - Huang Chenhong emphasized that supply chain integration is crucial for competitiveness in AI infrastructure, and Ken Lau's expertise will enhance global operational compliance and stability [2]

（编辑 王雪儿） 证券日报网讯 潍柴动力11月25日发布公告，在公司回答调研者提问时表示，今年前三季度公司M系列 大缸径发动机销售超7700台，同比增长超30%；其中数据中心市场销售超900台，同比增长超3倍，业绩 贡献持续增长。近年来，AI技术快速迭代驱动算力基建加速，由此推动数据中心备用电源市场快速扩 容，进而带动面向该细分领域的高端发动机的需求井喷。公司大缸径发动机启动速度快、加载能力强， 具有更可靠、更高效及更经济的优势，并凭借稳定交付节奏，在国内外多个地区的数据中心项目均已完 成产品交付验收，国内外市场认可度持续提升。后续，公司将积极开拓国内外战略客户，推动市场份额 持续提升。 ...

关于12月是否降息，多位美联储官员在近期表达了截然相反的观点，也使得市场对于美联储12月降息前 景的判断存在较大分歧。 新华财经上海11月25日电 针对美国就业下行风险与通胀上行风险的争论使得美联储内部对于12月降息 前景的分化进一步加剧，市场对于美联储降息预期也反复摇摆。当地时间24日，包括纽约联储行长威廉 姆斯在内的多位美联储官员均表示支持12月降息，极大提振市场情绪，推动市场预期12月降息概率再次 大幅回升，美股在内的风险资产大幅反弹。根据芝商所（CME）美联储观察工具，市场预期美联储12 月降息的概率已从不到30%回升至80%。 美联储内部分歧加剧 美国劳工部公布数据显示，9月非农新增就业人数超预期但失业率走高，显示美国就业市场表面"强 劲"实则走弱的状况。9月新增就业人数环比大幅增加受8月低基数影响较大，如果从两个月的平均数据 看，8月和9月月均新增就业仅5.75万人，并不乐观。 过去一个月以来，市场对美联储12月降息的预期有两次明显降温：第一次是10月美联储货币政策会议 后，市场对美联储降息概率押注从接近100%降至70%左右。彼时美联储主席鲍威尔称12月降息"并非已 成定局——远非如此"、"政策 ...

Investment Rating - The report maintains a "Strong Buy" investment rating for the company [3][6]. Core Views - The company reported a revenue of 28.4 billion yuan in Q3 2025, representing an 8.2% year-on-year increase, with a gross profit of 18.2 billion yuan, up 10.3% year-on-year, and a net profit attributable to shareholders of 8.6 billion yuan, which is a 31.8% increase year-on-year [1][2]. - The company has a strong cash position with net cash of 153.2 billion yuan and operating cash flow of 12.9 billion yuan in Q3 2025, reflecting a 21.7% year-on-year growth [1]. - The classic games segment performed well, contributing to a revenue of 23.3 billion yuan in Q3 2025, a year-on-year increase of 11.8%, driven by self-developed games and several agency games [6][8]. - The company has a rich pipeline of upcoming games, including titles that have already gained traction in both domestic and international markets [6][8]. - The report anticipates that the company's net profit attributable to shareholders will reach 35.1 billion yuan, 38.5 billion yuan, and 42.5 billion yuan for the years 2025, 2026, and 2027, respectively [6][8]. Financial Data and Valuation - The total revenue forecast for the company is projected to grow from 103.5 billion yuan in 2023 to 130.1 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 7% [2][9]. - The net profit is expected to grow from 29.4 billion yuan in 2023 to 42.5 billion yuan in 2027, reflecting a CAGR of around 10% [2][9]. - The report highlights a decrease in the price-to-earnings (PE) ratio from 20.6 in 2023 to 14.2 in 2027, indicating an attractive valuation over the forecast period [2][9]. Shareholder Information - The company has a total share capital of 3.168 billion shares, with a market capitalization of 67.35 billion Hong Kong dollars [3][6]. - The major shareholder, Shining Globe International Limited, holds a 45.17% stake in the company [3].

Core Viewpoint - The article discusses the unveiling of miHoYo's new game "Varsapura," highlighting its development under the leadership of founder Cai Haoyu and the integration of AI technology into gameplay [5][10][30]. Group 1: Game Development and Features - "Varsapura" is being developed with a focus on immersive storytelling, featuring a hyper-realistic art style and vehicle gameplay, utilizing the UE5 engine [10][30]. - The game aims to integrate AI deeply into its mechanics, allowing player choices to dynamically influence relationships and events within the game world [10][30]. - The development team is globally distributed, with talent from Shanghai, Singapore, Los Angeles, and Montreal, indicating a significant investment in diverse expertise [10][30]. Group 2: Market Context and Competition - The gaming industry is experiencing a shift towards gameplay innovation, with players increasingly favoring gameplay mechanics over narrative content, as evidenced by the success of games like "Endless Winter" [27]. - miHoYo has faced challenges in maintaining its market position, having dropped out of the top three global mobile game publishers and seeing a decline in revenue from its previous hits [24][25]. - The overall market for two-dimensional games in China has contracted, with a reported 7.44% decrease in actual revenue [23]. Group 3: Strategic Implications - "Varsapura" represents a significant gamble for miHoYo, with the potential to restore its status among top gaming companies if successful [30]. - The game is part of miHoYo's broader ambition to create a "virtual world for a billion people," indicating a long-term strategic vision [30]. - The company is also exploring another project using UE5 technology, emphasizing large-scale boss battles, which reflects its commitment to high-quality game development [30].