Core Viewpoint - Alibaba and Haier Group have signed a comprehensive strategic cooperation agreement focusing on AI collaboration to accelerate industrial AI innovation and development [1][2]. Group 1: AI Collaboration - The strategic cooperation will focus on AI + cloud, e-commerce, and globalization, exploring new paths for industrial AI transformation [2]. - In the AI + cloud sector, the collaboration will involve a full-stack AI partnership, creating industry-level models around smart homes and intelligent manufacturing [5]. - The partnership aims to build an overall AI service system, integrating Haier's industrial internet platform capabilities with Alibaba's computing power [5]. Group 2: E-commerce and Globalization - The collaboration will deepen cooperation in domestic and overseas consumer sectors, leveraging Haier's industrial strengths and Alibaba's overseas e-commerce system [5]. - Haier and Alibaba will jointly create a resilient heterogeneous computing power platform to provide stable cloud services globally, supporting Haier's expansion in Southeast Asia [5]. Group 3: Industry Trends - Alibaba has signed strategic cooperation agreements with multiple industry leaders in AI and computing fields this year, aiming for deep application and innovation in key scenarios [8]. - The application of AI, especially large models, is experiencing rapid growth across various industries, with significant usage in internet and consumer electronics sectors [8][9]. - AI's utility in scenarios is primarily reflected in four aspects: enhanced experience, new product creation, efficiency improvement, and "AI for Science" [9].

Group 1 - Shandong Railway Investment Holding Group has established a new digital technology company, Shandong Railway Investment Digital Technology Co., Ltd. [1] - The new company has a registered capital of 48 million RMB and its legal representative is Hu Zongwen [1] - The business scope of the company includes Internet of Things (IoT) technology services, artificial intelligence (AI) basic resources and technology platforms, and cloud computing equipment sales [1] Group 2 - The new company is wholly owned by Shandong Railway Investment Holding Group [1]

作为"支付宝核心合作伙伴"，天波从第一代刷脸支付收银机 "蜻蜓 F1" 到现在兴起的"碰一下"支付终端，始终坚定不移地与支付宝并肩前行，共同建立起历 经多年沉淀、深厚且稳固的技术协同合作关系。今年9月，天波更上榜"碰一下"优秀生态伙伴名单，体现出与支付宝在技术创新、市场拓展、用户体验提升 等多个维度紧密协作。 9月24日至26日，全球科技盛会——"云栖大会"在杭州隆重举行。本届大会以"云智一体·碳硅共生"为主题，4万平方米的展区内，500余家企业带来的3500款 展品，重点聚焦AI全产业链的发展趋势、技术创新、关键产品和最新应用，将人工智能从概念推向可触摸的现实，全景式呈现AI与云计算的技术突破与产 业落地。 本次云栖大会，天波信息携多款AIoT创新产品亮相，以"硬件+场景"的深度融合，为新零售、智慧医疗、智能安防、智慧金融等行业提供数字化转型新范 式。 Univ . ● C 多页型盘码显有 ED DHI 6 G t . COSTPARKE n 1 54 74 20 20 · · IN OROHO To 90 90 Ho Ho 11834 · · · ti APSARA == ( i UBAR li ST C ...

中国基金报记者 曹雯璟 10 月 13 日，记者从阿里巴巴处获悉，海尔集团与阿里巴巴集团近日签署全面战略合作协 议，达成全面 AI 合作。根据协议，海尔集团与阿里巴巴的战略合作将聚焦 AI+ 云、电商、全 球化等核心领域，为产业 AI 转型探索新路径。 【导读】海尔与阿里巴巴战略签约，聚焦 AI+ 云、电商、全球化合作 照片来源：阿里巴巴 海尔集团董事局主席、首席执行官周云杰表示，阿里巴巴在数字技术与生态布局上的优势， 与海尔深耕智慧住居、大健康、数字经济三大赛道的实践高度契合。此次合作不仅是双方的 强强联合，更是实体经济与数字经济深度融合的重要探索，将为全球用户创造更高品质的智 慧生活体验。 阿里巴巴集团首席执行官吴泳铭表示，阿里巴巴希望发挥自身在 AI 与云计算方面的优势，结 合海尔深厚的产业实践，共同推动 AI 技术在产业的深度应用与前沿创新。 海尔集团与阿里巴巴签署全面战略合作协议 共建数字产业新生态 10 月 11 日，海尔集团与阿里巴巴集团签署全面战略合作协议，达成全面 AI 合作。据了 解，双方将充分发挥海尔的全生态布局与阿里巴巴的全栈 AI 能力优势，共建数字产业新生 态，加速产业 AI 创新 ...

Group 1: Innovation in Pharmaceuticals - The State Council has introduced regulations to standardize clinical research and application of biomedical technologies, promoting innovation and ensuring medical quality and safety [1] - The innovative pharmaceutical industry is experiencing positive fundamentals, with overseas licensing amounts exceeding $66.8 billion by mid-2025, and 31% of innovative drugs introduced by international pharmaceutical companies originating from China [1] Group 2: Infrastructure Development - Seven departments, including the Ministry of Industry and Information Technology, have released a plan to enhance new information infrastructure, focusing on the integration of "5G + industrial internet" and the development of computing power infrastructure [2] - The plan aims to promote the resourceization and assetization of industrial data, and to integrate artificial intelligence technologies with service-oriented manufacturing [2] Group 3: Financial Standards - The China Securities Regulatory Commission has published three financial industry standards related to securities exchanges and asset securitization, effective immediately [3] Group 4: Housing and Urban Development - The Ministry of Housing and Urban-Rural Development is deepening reforms in the housing and real estate sectors during the 14th Five-Year Plan, aiming to establish a new model for real estate development and improve the housing supply system [4] Group 5: Healthcare Pricing Regulation - The National Healthcare Security Administration has initiated a special rectification of "dual pricing" practices in designated retail pharmacies, emphasizing the need for fair pricing for insured patients [5][6] Group 6: Cloud Computing Standards - The Ministry of Industry and Information Technology and the National Standardization Administration have issued guidelines for the construction of a comprehensive cloud computing standardization system, aiming to establish over 30 new national and industry standards by 2027 [7] Group 7: Company News - Nengke Technology plans to raise up to 1 billion yuan for the development of its AI training platform [8] - Various companies reported significant year-on-year profit increases, with notable growth from Dao Shi Technology (408.27%) and Dongyangguang (171.08% - 199.88%) [8]

Core Insights - The "14th Five-Year Plan" period focuses on high-quality development in housing and urban construction, emphasizing the renovation of old residential communities to enhance residents' living quality and satisfaction [1][3]. Group 1: Renovation of Old Residential Communities - The Ministry of Housing and Urban-Rural Development has undertaken significant efforts to improve public spaces in residential buildings, implementing energy-saving renovations covering 37 million square meters and addressing common issues like leaks and insulation [3][4]. - A total of 129,000 elevators have been installed in old residential communities over the past five years, facilitating easier access for elderly residents [3][4]. - Infrastructure improvements include the renovation of 310,000 kilometers of aging pipelines for water, electricity, gas, and heating, addressing issues such as leaks and unstable voltage [4]. Group 2: Community Environment and Services - The initiative has led to the construction of over 18,000 "pocket parks" and approximately 25,000 kilometers of urban greenways, along with the addition of over 28 million square meters of cultural and sports facilities [5]. - Community service facilities have increased by 64,000, enhancing accessibility to services like elderly care and childcare [5]. - The renovation process has involved community participation in decision-making, fostering better neighborly relations and trust in local governance [5]. Group 3: Technological Advancements - The Ministry is focusing on the application of new technologies in construction and urban management, with significant breakthroughs in various technical fields [6]. - From 2021 to 2024, 39 new technologies related to drinking water safety, energy-efficient buildings, and high-rise construction have received national science and technology awards [6]. - New materials such as photovoltaic building glass and self-healing concrete are being developed to enhance building performance and reduce carbon emissions [6][7]. Group 4: Equipment and Applications - The introduction of advanced construction equipment, such as integrated and intelligent "building machines," is revolutionizing construction processes [7]. - The integration of AI, big data, IoT, and cloud computing into urban infrastructure is significantly improving urban management efficiency and safety [7].

Group 1 - The report indicates that despite short-term adjustments in the Hong Kong stock market, it remains in a trend of oscillating upward with a solid bottom [1] - The report maintains a positive outlook on AI technology, suggesting that while US tech giants may influence the trading rhythm of Hong Kong's AI sector, the acceleration of China's AI progress offers recovery potential for leading tech stocks in Hong Kong [2] - The report emphasizes a focus on cyclical recovery, with the market awaiting guidance from the Fourth Plenary Session and the 15th Five-Year Plan, suggesting tactical trading in cycles and consumption [2] Group 2 - The report lists a selection of "golden stocks" for October, including Alibaba, Kuaishou, Xiaopeng Motors, and others, with detailed financial metrics such as market capitalization, EPS, and PE ratios for 2026 and 2027 [2][6] - Alibaba is highlighted for its strong cloud business growth driven by AI, with significant investments in AI infrastructure expected to enhance its competitive edge and maintain high margins [9][10] - Kuaishou is recognized for its advancements in AI video generation technology, positioning it as a leading player in the domestic market [16][17] Group 3 - Xiaopeng Motors is projected to achieve substantial revenue growth, with expected revenues of 830 billion, 1494 billion, and 2229 billion RMB for 2025, 2026, and 2027 respectively, alongside a path to profitability by 2026 [23] - The report discusses the strategic focus of Xiaopeng Motors on building a platform-based technology foundation to enhance its competitive advantage in the electric vehicle market [27] - The report anticipates that the Robotaxi business of Cao Cao Mobility will benefit from the ongoing transformation of the ride-hailing market, with projected revenues of 206.7 billion, 262.4 billion, and 323.7 billion RMB for 2025 to 2027 [30] Group 4 - Horizon Robotics is noted for its leadership in automotive intelligent driving solutions, with a significant market opportunity as the penetration of high-level autonomous driving increases [35] - The report highlights the commercial potential of the pharmaceutical company Kelun-Biotech, with ongoing clinical trials and product registrations expected to drive growth [41] - The report emphasizes the robust pipeline and financial health of Hutchison China MediTech, with expectations for revenue growth driven by successful commercialization of existing products [51][52] Group 5 - China Petroleum & Chemical Corporation is positioned to benefit from regulatory changes aimed at standardizing and scaling the refining industry, with expectations for improved cash flow and dividend yield [70][74] - The report discusses the food and beverage company Guoquan's strategic expansion into rural markets, with plans to open 1,000 new stores, reflecting a strong growth trajectory [78][79]

Core Insights - NVIDIA emphasizes that its AI growth is still in the early stages, particularly in enterprise and industrial applications, which are described as being in a "nascent" phase [1] - The company maintains an "Overweight" rating, supported by strong arguments regarding the stability of its competitive landscape [1] AI Demand and Market Potential - Current AI demand growth is primarily driven by the migration from CPU to GPU in cloud computing capital expenditures, with significant expansion potential ahead [3] - NVIDIA's CEO forecasts that the AI infrastructure market could reach $3 to $5 trillion by 2030, exceeding common market assumptions [3] - The company notes that wafer capacity is no longer a major bottleneck, with current limitations focused on data center space, power, and supporting facilities [3] Strategic Partnerships and Investments - NVIDIA positions itself as an "accelerator" rather than a "financier," investing in projects like CoreWeave and sovereign fund initiatives in London to expedite data center development [3] - The company views OpenAI's recent 10GW data center construction goal as an incremental opportunity, advising caution in interpreting such targets from competitors [3] Competitive Landscape - In response to AMD's collaboration with OpenAI, NVIDIA highlights its own agreements with non-cloud data centers and equity investments per GW, suggesting a more direct approach to market engagement [4] - Concerns regarding NVIDIA's long-term forecasts, financing cycles, and rising competitor confidence are acknowledged, but the company believes that even partial realization of high assumptions in three-year agreements will support future growth [4] - NVIDIA expects to maintain an 80% market share in the XPU market by 2026, with its valuation still lower than competitors [4] AI Infrastructure and Growth Drivers - The AI infrastructure spending is projected to be between $3 to $4 trillion by 2030, driven by three AI scaling laws that are expected to exponentially increase computing demand [6][8] - The company excels in pre-training, post-training, and inference processes, which are critical for AI applications [8] Token Generation and Usage Growth - Token generation is reportedly doubling every two months, indicating a rapid increase in AI application usage [10] - OpenAI has seen significant growth in its user base, with 5 million paying business users as of recent reports, up from 3 million in June [10]

昨晚，菲尼克斯太阳队对阵布鲁克林篮网队，而 VIP 区的星光或许比这场季前赛更加耀眼。阿里巴巴创始人马云、董事会主席蔡崇信、 CEO 吴泳铭同时现身观赛，这也是自 2023 年 9 月阿里管理层交接后三人罕见的公开同框。 从现场图片看到，马云身着休闲装，头戴棒球帽，一副轻松自在的打扮。其间，马云的跨界社交能力凸显无遗，不仅与成龙、贝克汉姆邻 座而坐，频繁交流互动，还亲自为吴泳铭和贝克汉姆拍摄合影。 马云现身，观众称"嘉宾排面拉满" 文｜《 BUG 》栏目 徐苑蕾 昨晚， NBA 中国赛在中断 6 年后正式回归。有现场观众向《 BUG 》栏目表示，"现场座无虚席。第二节比赛暂停期间，姚明、奥尼 尔、韦德和加特集体亮相，一场比赛就见到了好几个 NBA 传奇球星。" 此外，阿里巴巴创始人马云、董事会主席蔡崇信、 CEO 吴泳铭共同观赛，与成龙、贝克汉姆等国际巨星互动，这也是自 2023 年 9 月阿 里管理层交接后三人罕见的公开同框。 商界大佬、文体名人已经成为赛场外最耀眼的风景。 《 BUG 》栏目在二手平台查询发现，比赛门票溢价高达 2-5 倍，比如 12 日比赛的 488 澳门元门票被炒至 2380 元人民币 ...

马云现身，观众称"嘉宾排面拉满" 昨晚，菲尼克斯太阳队对阵布鲁克林篮网队，而VIP区的星光或许比这场季前赛更加耀眼。阿里巴巴创 始人马云、董事会主席蔡崇信、CEO吴泳铭同时现身观赛，这也是自2023年9月阿里管理层交接后三人 罕见的公开同框。 从现场图片看到，马云身着休闲装，头戴棒球帽，一副轻松自在的打扮。其间，马云的跨界社交能力凸 显无遗，不仅与成龙、贝克汉姆邻座而坐，频繁交流互动，还亲自为吴泳铭和贝克汉姆拍摄合影。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 文 | 《BUG》栏目 徐苑蕾 昨晚，NBA中国赛在中断6年后正式回归。有现场观众向《BUG》栏目表示，"现场座无虚席。第二节 比赛暂停期间，姚明、奥尼尔、韦德和加特集体亮相，一场比赛就见到了好几个NBA传奇球星。" 此外，阿里巴巴创始人马云、董事会主席蔡崇信、CEO吴泳铭共同观赛，与成龙、贝克汉姆等国际巨星 互动，这也是自2023年9月阿里管理层交接后三人罕见的公开同框。 商界大佬、文体名人已经成为赛场外最耀眼的风景。《BUG》栏目在二手平台查询发现，比赛门票溢 价高达2-5倍，比如12日比赛的488澳门元门票被炒至2 ...