每经AI快讯，有投资者在投资者互动平台提问：贵公司及旗下有AIGC相关技术能力或解决方案吗？ 友讯达（300514.SZ）1月7日在投资者互动平台表示，公司暂不涉及AIGC相关产品及业务。 （记者 曾健辉） ...

随着 AIGC（Artificial Intelligence Generated Content） 的爆发，我们已经习惯了像 Sora 或 Wan 这样的视频生成模型能够理解「一只宇航员在火星后空翻」这样天 马行空的指令。然而，3D 人体动作生成（3D MoGen）领域却稍显滞后。 现有的模型在标准数据集上表现良好，但在泛化能力上仍存在明显瓶颈。一旦用户输入训练集中未见过的复杂交互或罕见动作，生成的动作往往会缺乏自然性、 崩坏或退化为简单的平均姿态，这严重限制了其在现实场景和交互系统中的应用。 那很自然地就会思考： 视频生成模型已经初步学会了通用的物理规律和人类行为，为什么不把这些知识「蒸馏」给 3D 人体动作生成模型呢？ 论文链接：https://arxiv.org/abs/2510.26794 项目主页：https://linjing7.github.io/vimogen/ ViGen-to-MoGen 的三大支柱 来自 南洋理工大学、商汤科技、清华大学、香港中文大学和英伟达的研究人员 提出了题为 《The Quest for Generalizable Motion Generation: Data, ...

Core Insights - TikTok's German market is experiencing significant growth with 21.8 million active users and an average monthly usage time of 34 hours, positioning it as a key player in the global short video landscape [1] - The market is evolving from content entertainment to a diversified ecosystem that includes content, e-commerce, and services, with MCNs (Multi-Channel Networks) poised to seize unprecedented opportunities [1] Market Ecosystem: Diverse Growth Driven by High-Value Users - TikTok's competitive edge in Germany stems from the deep integration of high-value users and refined operations, with over 60% of users aged 18-34 and significant growth among users aged 35 and above [3] - Major cities like Berlin and Munich are becoming traffic hubs, and the average revenue per user (ARPU) is €8, indicating strong willingness to pay [3] - Local content, including topics like German football and environmental issues, accounts for over 55% of traffic, while niche content is also gaining traction [3] E-commerce Growth as a Key Increment - Germany is a leading market for TikTok Shop in Europe, with monthly GMV ranging from $6 million to $25 million, and significant growth during peak shopping seasons [4] - The alignment of content and user interest with a focus on quality has led to high sales in categories like smart home devices and eco-friendly products, with average order values exceeding €45 [4] Compliance as a Fundamental Requirement - Compliance is essential for entering the German market, with strict GDPR regulations requiring user data to be stored within the EU and potential fines for violations reaching €20 million or 4% of annual revenue [5] - Tax compliance is also critical, with a VAT rate of 19% and penalties for late filings, necessitating automated tax systems for MCNs [5] - Content must avoid sensitive topics and adhere to local standards, impacting conversion rates and brand trust [5] Opportunities for MCNs: Triple Benefits - TikTok's German market offers MCNs policy, traffic, and commercialization benefits, including a 3-6 month traffic support period for new MCNs and increased exposure for new streamers [7] - The "one store sells five countries" policy allows MCNs in Germany to reach other EU markets, enhancing scalability [7] Flow of Traffic and Monetization Potential - The competitive environment is currently favorable, with fewer than 10 active MCNs in Germany, and users spending over 75 minutes daily on the platform [8] - Live streaming during peak hours can significantly enhance conversion rates, with potential earnings from gifts and brand collaborations being substantial [8] Technological Empowerment for Smaller MCNs - The adoption of hybrid models combining human and AI streamers can reduce costs significantly, while innovative content generation methods can enhance efficiency [9] - New revenue streams are emerging from knowledge-based services, such as language teaching and carbon neutrality courses [9] Future Outlook: Focus on Precision and Global Integration - The future of TikTok's German market is expected to evolve towards verticalization, technological advancement, and integration, focusing on sectors like renewable energy and precision manufacturing [11] - The integration of local brands with TikTok's content strengths will create a closed-loop ecosystem that enhances user engagement and brand trust [11] - Cross-regional synergies will facilitate collaborative growth across EU markets [11] Conclusion - TikTok's German market is at a pivotal moment, driven by high-value users, policy advantages, and e-commerce growth, presenting vast opportunities for MCNs [12] - Success will depend on compliance, localized content, and leveraging technology to establish a strong foothold in this emerging European market [12]

智通财经APP获悉，近日，备受关注的智谱AI港股招股收官，并将于1月8日以"2513"为股票代码，正式 在港交所主办挂牌上市。届时，"全球大模型第一股"将正式诞生，估值有望达到511亿港元。同日，另 一家AI大模型企业MiniMax计划赴港IPO定价，拟以每股165港元的价格发行新股，且认购需求强劲。 据悉，智谱AI成立于2019年，是"大模型六小龙"中最早成立的企业，按2024年收入计，其在国内独立通 用大模型开发商中位列第一。MiniMax是全球领先的通用人工智能科技公司，旗下已推出MiniMax、 MiniMax语音、海螺AI等产品。2025年前9个月，公司营收同比增长超过170%。 两大AI企业火热登陆港股，再度引爆AI赛道。根据UNCTAD的报告，全球AI市场规模预计将从2023年 的1890亿美元飙升至2033年的4.8万亿美元。作为AI应用层的典型代表，AIGC软件A股上市公司万兴科 技（300624.SZ）等AI头部企业，也再度受到市场关注。 从AI产业层面看，大模型正推进AI企业的发展分化。以智谱AI为代表的通用大模型厂商，核心在于夯 实模型底座，通过API调用向开发者和企业输出通用智能能力 ...

Group 1 - The core viewpoint of the articles highlights the significant developments in the AI sector, particularly the IPOs of major AI companies like Zhiyuan AI and MiniMax, which are set to attract substantial market attention and investment opportunities [1][2] - Zhiyuan AI, established in 2019, is recognized as the leading independent developer of general-purpose large models in China, with a projected valuation of HKD 51.1 billion upon its listing [1] - MiniMax, another key player in the AI space, plans to price its IPO at HKD 165 per share, indicating strong subscription demand, and has reported over 170% year-on-year revenue growth for the first nine months of 2025 [1][2] Group 2 - The AI industry is experiencing a differentiation in development paths, with Zhiyuan AI focusing on solidifying its model foundation and providing general intelligence capabilities through API calls, while MiniMax emphasizes the collaborative development of multi-modal capabilities across text, voice, and video [2] - Wanxing Technology, a prominent player in the digital creative software sector, is recognized for its extensive product coverage and high revenue scale, being referred to as the "Chinese version of Adobe" [3] - The competition in the AI industry is shifting from "whose model is stronger" to the ability to leverage model capabilities into replicable and sustainable product and service strengths, as demonstrated by the different strategies of Zhiyuan AI, MiniMax, and Wanxing Technology [2][3]

Core Viewpoint - The report from Guotai Junan initiates coverage on Minglue Technology (02718) with a "Cautious Accumulate" rating, projecting net profits of -0.13/0.37/1.11 million yuan and revenues of 1.5/1.66/1.81 billion yuan for 2025-2027, respectively [1] Group 1: Company Overview - The company is a leading provider of data intelligence application software in China [1] - In H1 2025, the company achieved revenue of 644 million yuan, a year-on-year increase of 13.9%, indicating a recovery from a revenue decline of 5.5% in 2024 [1] - The gross profit margins for 2022-2024 were 53.2%, 50.1%, and 51.6%, with an increase to 55.9% in H1 2025, reflecting a higher proportion of high-margin marketing intelligence business and cost control through product standardization and AI tools [1] Group 2: Business Segmentation - The company's revenue is primarily derived from three segments: marketing intelligence, operational intelligence, and industry solutions [2] - In H1 2025, the marketing intelligence segment, which includes products like the second needle system and AI-driven social media insights, generated 354 million yuan, a year-on-year increase of 9.75%, accounting for 55.01% of total revenue [2] - The operational intelligence segment focuses on conversational intelligence and smart store operation systems, achieving revenue of 269 million yuan in H1 2025, a year-on-year increase of 16.77%, representing 41.71% of total revenue [2] Group 3: R&D and Product Development - The company is increasing R&D investment in multi-modal large models and intelligent agents, launching generative AI products like "Xiao Ming Assistant" for enterprise decision-making and operational scenarios [2] - The company has also developed the AIGC product insightFlow CMS, integrating marketing insights, content production, and optimization [2]

Core Insights - Baidu Encyclopedia launched two major features, "Dynamic Encyclopedia" and "AI Knowledge Graph," marking a significant upgrade as it approaches its 20th anniversary, transitioning from static queries to dynamic interactions and system exploration [1] Group 1: Dynamic Encyclopedia - "Dynamic Encyclopedia" utilizes generative UI technology and gamified design to transform traditional static knowledge presentation into interactive and visual experiences [3] - Users can not only access textual information but also visualize complex concepts through dynamic imagery, such as observing planetary orbits in the "Solar System" theme [3] - The feature covers multiple domains, including natural sciences, humanities, and entertainment, with content like La Niña phenomenon simulations and interactive storytelling [3] - All dynamic content is built upon verified entries from Baidu Encyclopedia, ensuring scientific accuracy and reliability through contributions from over 100,000 experts [3] Group 2: AI Knowledge Graph - The "AI Knowledge Graph" addresses knowledge fragmentation by leveraging Baidu's AI capabilities to create a structured knowledge network, enhancing user experience from simple queries to immersive exploration [4] - Initial projects like the "Revival of Famous Paintings" and "Internet Celebrity Cultural Awards" utilize AIGC technology to dynamically revive historical artifacts and link them with relevant knowledge [4] - This feature serves not only general users but also provides efficient tools for education and cultural dissemination, promoting deeper integration of AI in knowledge sharing [5] Group 3: Data Support - As of January 2026, Baidu Encyclopedia has surpassed 30 million entries and has over 8.03 million contributors, establishing itself as the most comprehensive knowledge repository in the Chinese internet [5] - The "Star Plan" has collaborated with leading institutions like the University of Science and Technology of China and Peking University, contributing over 1 million professional entries to support AI functionality [5] - The platform has accumulated over 100 million views, providing rich data feedback for the iterative optimization of AI technology [5] Group 4: Industry Significance - The dual feature upgrade represents a milestone for Baidu Encyclopedia and has profound implications for the AI knowledge service industry, combining cutting-edge technologies with knowledge dissemination [5] - The integration of structured organization and interactive presentation shifts knowledge acquisition from passive reception to active exploration, injecting new momentum into the digital transformation of education and culture [5] - Baidu Encyclopedia's general manager stated that this launch marks the beginning of a new journey as the platform continues to empower knowledge presentation and acquisition through AI technology [6]

Group 1: Key Focus Areas for 2026 - The commercial aerospace sector is experiencing a cost restructuring, shifting from one-time manufacturing to a reusable cost model, with Chinese companies making significant technological breakthroughs and cost reductions [1] - Artificial intelligence (AI) is highlighted as a crucial focus for 2026, with significant advancements in AI agents and a growing number of applications in China, driven by the launch of the DeepSeek model [2] - Embodied intelligence, particularly humanoid robots, is identified as a key area of interest, leveraging China's complete manufacturing system to gain a unique advantage in humanoid robot production [2] Group 2: Investment Opportunities - The innovation in pharmaceuticals, new consumption trends, and non-ferrous metals are also seen as areas of investment opportunity, with a particular emphasis on precious metals like gold and silver due to increased attractiveness amid geopolitical risks and monetary easing expectations [3] - The long-term outlook for gold remains positive due to concerns over global debt and currency, suggesting potential for price increases [3]

Core Insights - Baidu Baike is leveraging AI to enhance its product offerings, introducing features like "Dynamic Baike" and "Baike AI Knowledge Graph" to transform knowledge acquisition experiences as it approaches its 20th anniversary [1][8] Group 1: Dynamic Baike - The "Dynamic Baike" product utilizes generative UI technology to incorporate gamification and scenario-based design into knowledge presentation, making abstract concepts more visual and interactive [2] - Users can visualize real-time planetary movements and internal structures in the "Solar System" theme, significantly lowering the cognitive barrier for understanding complex astrophysical knowledge [2] - All content in "Dynamic Baike" is based on verified entries from Baidu Baike, ensuring scientific accuracy and authority across multiple disciplines [2] Group 2: Baike AI Knowledge Graph - The newly launched "Baike AI Knowledge Graph" aims to address knowledge fragmentation by deeply mining vast amounts of Baike content and restructuring it into a highly organized knowledge network [4] - This feature enhances user experience from simple queries to immersive and extendable knowledge exploration [4] Group 3: AIGC Projects - The "Reviving Famous Paintings" and "Internet Celebrity Cultural Relics Awards" projects showcase the application of AIGC technology, bringing historical artworks to life in videos while automatically linking them to relevant historical and artistic knowledge [6] - Baidu Baike has surpassed 30 million entries and has over 8.03 million contributing users, collaborating with over 100,000 experts and professional creators to build more than 1 million pieces of specialized knowledge through the "Star Plan" [6] Group 4: Future Directions - The company aims to create more useful knowledge products that cater to users' curiosity and knowledge needs while maintaining content authority and rigor [8]

Core Insights - The "2026 Shenzhen Enterprise New Product Launch" event showcased 15 innovative companies, highlighting Shenzhen's innovation strength and the momentum of its "first launch economy" [1] - The event featured a three-way collaboration model involving "hundred enterprises, hundred investments, and hundred media" to bridge technology research and industrial application [1] Group 1: Innovative Products - CIMC Vehicles introduced the world's first "pure electric head-mounted train + operational support base station" known as the "EV-RT ecosystem," aiming to collaboratively establish industry standards and address common challenges in the new energy commercial vehicle sector [1] - Dingjiang Technology launched the AI intelligent diagnostic platform TopFix and an industrial-grade AI tablet, achieving a significant increase in automotive fault diagnosis accuracy to 90% while improving hardware performance by 30% and reducing costs [3] - Tiandun Data presented the "Quantum Wave" computing platform, transforming computing resources into on-demand services to support various fields such as academic research, AIGC content creation, and biomedicine [3] Group 2: Application Solutions - Chuangmenglong Technology showcased a highly realistic customizable humanoid robot, integrating a self-developed cloud brain operating system and emotional interaction algorithms, targeting diverse scenarios in education, cultural tourism, and healthcare [5] - Xinkangfeng introduced "0 formaldehyde + formaldehyde removal" latex paint, utilizing a unique AOP-KF® solid alkali technology to actively decompose indoor formaldehyde, significantly shortening the safe occupancy period after renovation [5] - Huiming Glasses launched smart glasses for children's myopia management and an AI smart fitting terminal, providing real-time monitoring of youth eye habits and high-precision 3D modeling for an experience comparable to large professional stores [5] - Kaitai Bank, a key ASEAN financial institution headquartered in Shenzhen, plays a vital role in cross-border finance, offering efficient settlement, financing, and exchange rate risk management services to lower financial barriers and operational costs for enterprises expanding into Southeast Asia [5]