湖北将在制造业、交通运输、智慧物流、现代农业等4个领域实现产业转型升级场景建设。聚焦光电子 信息、智能网联汽车制造与服务、现代化工等领域及智能制造、绿色制造、服务型制造、高端装备制 造、新材料领域，推动制造业迈向高端化、智能化、绿色化。发展智能交通管理、车联网、智能调度等 场景，发展智慧公路、港航、物流枢纽与园区，探索物流新模式和公铁、水水、铁水智慧联运。 根据《实施方案》，湖北将在应急管理、安全生产、智慧水利、林业等4个领域施行行业领域场景深度 应用；将在政务服务、智慧城市、乡村建设等3个领域创新社会治理服务综合性应用场景；还将在医疗 卫生、养老助残托育、文化和旅游、跨界融合消费等4个领域丰富应用场景。 《实施方案》同时从创新场景供给模式，促进资源高效配置；提供关键要素支撑，优化场景创新生态； 建立评估机制，促进场景持续优化；强化组织实施，推动场景落地见效等4方面出发，通过18条举措加 速场景优化、推动场景落地见效。 根据《实施方案》，湖北将通过培育和开放综合性重大场景、支持重点产业全链条开放、推动国有企业 开放主业领域场景、引导各类市场主体共建协同共享场景、支持加强特色场景开发、依托重大项目活动 培育开放 ...

华见早安之声 请各位听众升级为见闻最新版APP，以便成功收听以下音频。 市场概述 上周五，AI担忧加剧压垮美股，纳指收跌近2%、标普跌超1%，全周均转跌，道指跌落纪录高位，全周仍涨超1%、连涨三周；芯片和AI股重挫，英伟达跌 超3%、领跌科技巨头，芯片指数跌超5%，博通业绩电话会后跌11%，传出数据中心延期的甲骨文跌4.5%、财报后两日跌近15%；特斯拉逆市反弹近3%； 大麻股高涨，Canopy Growth涨54%。 长期美债跌，十年期美债收益率逼近三个月高位。美元指数暂别近八周低位，连跌三周；离岸人民币失守7.05、跌离14个月高位、但全周涨超百点；加密货 币齐跌，比特币盘中跌近4%，以太坊一度跌超6%。 黄金连创逾七周新高，盘中涨近2%后曾转跌；银铜创新高后跳水，期银一度跌超5%，伦铜跌3%、全周转跌；原油两连跌、全周回落超4%，美油收创七个 月新低。 亚洲时段，A股探底回升，创业板涨0.97%，可控核聚变、商业航天领涨，电网设备走强，港股高开高走，恒指、恒科指涨超1%，科技股普涨，有色强势。 要闻 中国11月新增社融2.49万亿元，新增人民币贷款3900亿元，M2-M1剪刀差扩大。 何立峰：2026年 ...

Core Viewpoint - Meta Platforms is shifting its focus from the underperforming Metaverse to AI initiatives, which is seen as a positive move by analysts, potentially leading to a significant increase in share price if executed well [1][4][12]. Financial Performance and Projections - Meta's shares could trade closer to $900 per share this year if the company maintains cost discipline and AI continues to enhance business results, with a bullish case suggesting a rise to $1,000 per share by 2026 [1][3][12]. - Currently, Meta is trading between 20X and 30X forward earnings, and a re-rating closer to 30X could lead to higher share prices [3][9][11]. Strategic Shift - The recent acquisition of AI wearable company Limitless indicates a strategic pivot towards AI, reflecting a commitment to redirect resources from the Metaverse to more promising opportunities [1][4][13]. - Analysts have criticized Meta's previous heavy investments in the Metaverse, suggesting that the company has more potential in AI, which could drive better returns [5][10]. Market Reaction - Following the announcement of spending cuts on the Metaverse, Meta's stock experienced a positive reaction, indicating investor approval of the strategic shift [4][11]. - The market's perception of Meta has been affected by high operating costs, but the recent changes may help restore confidence [9][12].

Financing Overview - A total of 99 financing events occurred in the tech industry from December 6 to December 12, 2025, with 81 events in China and 18 abroad[9] - The leading sectors in domestic financing were advanced manufacturing (44 events), artificial intelligence (23 events), and automotive transportation (5 events)[9] IPO and Prospectus Submissions - Wisdom Tree was listed on the Hong Kong Stock Exchange on December 8, 2025[12] - Fast Innovation submitted a prospectus for a proposed listing on the Hong Kong main board[14] - National Instrument Quantum and Precision Laser submitted prospectuses for listings on the Shanghai STAR Market[16][19] Market Performance - The Shanghai Composite Index fell by 0.34% to 3889 points, while the Shenzhen Component Index rose by 0.84% to 13258 points, and the ChiNext Index increased by 2.74% to 3194 points[21] - The semiconductor index rose by 2.84%, automotive electronics by 1.82%, artificial intelligence by 0.45%, and the metaverse index by 1.58%[21] Valuation Metrics - The PE ratios for the semiconductor, automotive electronics, artificial intelligence, and metaverse indices were 130.50, 37.94, 72.67, and 51.63, respectively, reflecting week-on-week increases of 2.5%, 1.5%, 0.8%, and 1.7%[25] - The PB ratios for the same indices were 6.34, 3.87, 7.51, and 5.56, with week-on-week increases of 2.5%, 1.4%, 0.9%, and 1.7%[27] Risk Factors - Market competition risk exists due to rapid growth in key sectors like semiconductors and AI, potentially intensifying competition[28] - Risks related to technological advancements not meeting expectations could hinder sector growth[29] - Market demand growth may fall short of expectations, impacting overall sector development[30]

明日主题前瞻 1、影视 | 灯塔专业版数据显示，截至12月13日14时26分,2025年我国电影票房已突破500亿元(含预售及服务费)，较2024年全年增长近75亿元。观影人次11.94 亿,较2024年全年增长近1.84亿人次。《哪吒之魔童闹海》以154.46亿元位列票房榜第一。 点评：开源证券认为，进口动画影片《疯狂动物城2》高口碑、高排片,或助力其票房持续超预期。进口新片《阿凡达3:火与烬》将于12月19日上映,其前作 《阿凡达》《阿凡达2:水之道》占据全球票房榜第一名和第三名。《阿凡达3》有望接力观影高潮，推动电影票房进一步回暖，并给相关出品、引进、发行 方及影投院线公司、IP衍生品开发商带来收入弹性。 2、脑科学 | 据新浪财经报道，在12月13日举行的天桥脑科学研究院脑机接口与人工智能论坛暨中国神经科学学会脑机接口与交互分会年会上，脑虎科技宣 布，由该公司自主研发的国内首款、国际第二款内置电池的全植入、全无线、全功能脑机接口产品完成首例临床试验。这位肩部以下完全不能动的高位截瘫 8年的患者,经过训练已可以浏览网页、打游戏等。据介绍，该产品将包括电池在内的所有核心模块完全植入体内，体表无任何线缆接口 ...

Core Viewpoint - Meta is shifting its focus from the metaverse to AI smart glasses, planning to cut 10% to 30% of its Reality Labs workforce after incurring $70 billion in losses over four years [2][4][21]. Group 1: Strategic Shift - Meta is not abandoning its metaverse ambitions but reallocating resources from VR to the more successful AR glasses and wearable devices [7][15]. - The company has seen unexpected success with its AI smart glasses, which have exceeded internal sales expectations [12]. Group 2: Financial Context - Reality Labs has accumulated losses exceeding $70 billion since its inception, prompting a reevaluation of investment strategies [21]. - The competitive landscape has changed, with major players like Apple and Google slowing their VR device developments, allowing Meta to adjust its VR focus [23]. Group 3: Design and Innovation - Meta is enhancing the design and fashion aspects of its smart glasses, appointing former Apple designer Alan Dye to lead a new creative studio [28][30]. - The company aims to integrate technology with thoughtful design to improve user interaction with AI glasses and other devices [30].

Core Viewpoint - The article highlights the remarkable journey of miHoYo, a gaming company that evolved from a small startup to the third-largest gaming company in China, with a valuation of 175 billion yuan, focusing on creating a virtual world that can accommodate a billion people by 2030 [7][34]. Group 1: Company Background and Founding - miHoYo was founded by a group of talented students from Shanghai Jiao Tong University, who initially started with a small loan and a passion for gaming and anime [8][10]. - The founders, including Cai Haoyu and Liu Wei, were recognized for their exceptional academic achievements and shared a common interest in the emerging subculture of anime and gaming [10][12]. - The company was officially established in 2011, with a mission to "save the world through technology" [14][15]. Group 2: Early Challenges and Breakthroughs - The initial years were challenging, with the first game, "Fly Me 2 The Moon," receiving only 3,000 downloads, prompting the team to rethink their business model [16][18]. - miHoYo's breakthrough came with the release of "崩坏学园2" (Honkai Academy 2) in 2014, which capitalized on the rise of mobile gaming and the popularity of the Bilibili platform, leading to significant revenue growth [22][24]. - The company focused on creating a successful commercial product while maintaining its unique style, which resulted in "崩坏学园2" generating revenues of 0.95 billion yuan in 2014 and 2.67 billion yuan in 2016 [24][25]. Group 3: Major Successes and Expansion - The launch of "崩坏3" in 2016 marked a significant turning point, with the game achieving over 1 billion yuan in revenue within the first month and eventually surpassing Tencent's "Honor of Kings" in popularity [29][31]. - Following this success, miHoYo invested heavily in the development of "原神" (Genshin Impact), which was released in 2020 and generated over 3 billion USD in its first month, solidifying the company's position in the global gaming market [32][34]. - By 2022, miHoYo had become the third-largest gaming company in China, with revenues of 27.34 billion yuan, primarily driven by "原神" and "崩坏: 星穹铁道" [36][37]. Group 4: Future Aspirations and Innovations - miHoYo aims to create a virtual world that can host a billion users by 2030, expanding its focus beyond gaming to include AI, brain-computer interfaces, and nuclear fusion technologies [39][41]. - The company has established partnerships with institutions like Shanghai Jiao Tong University to develop cutting-edge technologies and has launched new ventures in AI and the metaverse [39][41]. - The upcoming game "Varsapura" is positioned as a key step towards achieving the ambitious goal of creating a more immersive virtual world [43][45].

Core Insights - Meta is shifting its focus from the metaverse to AI, with a significant budget reallocation of $600 billion over the next three years, primarily directed towards AI initiatives led by Alexandr Wang [2][3] Group 1: Leadership Changes and Internal Dynamics - Alexandr Wang, a 28-year-old talent from ScaleAI, has been appointed by Mark Zuckerberg to lead a team that has rapidly recruited nearly 100 top AI talents from companies like OpenAI and Google [3] - The rise of Wang's team has sparked backlash from veteran executives, with 17 high-level departures from the metaverse core team, including John Carmack, who criticized the shift towards an "AI dictatorship" [3][4] Group 2: Financial Performance and Strategic Shift - Meta's Reality Labs, focused on the metaverse, reported a 39% year-over-year revenue decline in Q1 2024, while AI advertising systems saw a 28% revenue increase [3] - Zuckerberg announced that 75% of the infrastructure investment will now be directed towards AI, effectively reallocating $450 billion initially intended for the metaverse to Wang's "TBD Lab" [3] Group 3: Project Adjustments and Future Directions - The Meta smart glasses project has seen a reduction of 300 engineers, who have been reassigned to AI voice assistant development, and the launch of the AR glasses Project Nazare has been indefinitely postponed [4] - The new AI glasses, "Orion," will incorporate models developed by Wang's team, indicating a strategic pivot towards AI-driven products [4] Group 4: Competitive Landscape and Innovation - In the context of an AI arms race, Meta aims to differentiate itself by focusing on vertical breakthroughs in social scenarios, as highlighted by Wang's development of "SocialGPT," which has increased Instagram engagement by 47% during testing [5] - The competitive landscape includes major players like Microsoft-OpenAI and Google's DeepMind, with Meta seeking to carve out its niche in the evolving AI market [5] Group 5: Power Dynamics and Historical Parallels - Discussions among tech elites suggest that Zuckerberg's actions mirror historical corporate power struggles, reminiscent of Steve Jobs' ousting of John Sculley at Apple [6] - The internal resource allocation has been restructured to prioritize AI, leading to the sidelining of various VR projects, which are now considered "digital ruins" [6] - The ongoing transformation at Meta reflects a critical moment in tech history, with parallels drawn to past failures of companies like Yahoo and Microsoft in adapting to new technological paradigms [6]

1、11月金融数据出炉!前11个月社融规模增量超去年全年，业内解读来了 重要程度：★★★★★ 中国人民银行12月12日披露的最新金融统计数据显示，11月末，社会融资规模存量、广义货币(M2)、人民 币贷款余额分别同比增长8.5%、8%和7.7%。从增量数据看，前11个月，社会融资规模增量累计为33.39万 亿元，比上年同期多3.99万亿元，政府债券对社融增长形成了显著支撑。 业内专家表示，社会融资规模和M2增速均保持在较高水平，体现了适度宽松的货币政策状态，为经济高 质量发展营造了适宜的金融总量环境。贷款增速回落，主要是受到化债、处置不良以及多元化融资方式替 代效应等因素影响。从今年前11个月看，金融总量数据相对稳定、增速明显高于同期名义经济增速，较好 体现了逆周期和跨周期调节思路。 核心数据一览： 前11个月，社会融资规模增量累计为33.39万亿元，比上年同期多3.99万亿元 前11个月，人民币贷款增加15.36万亿元 11月末，M2余额336.99万亿元，同比增长8% 11月，企业新发放贷款(本外币)加权平均利率约为3.1%，个人住房新发放贷款(本外币)加权平均利率约为 3.1% 2、央行、金融监管总局等 ...

Core Viewpoint - The Ministry of Industry and Information Technology (MIIT) has released a draft for public consultation on the "Guidelines for the Construction of a Comprehensive Standardization System for the Metaverse Industry (2026 Edition)", aiming to establish a standard system to support the innovative development of the metaverse industry by 2028 [1][2]. Summary by Sections Industry Overview - The metaverse is described as an immersive interconnected space that integrates digital and physical worlds, characterized by high immersion, real-time continuity, autonomous creation, and open interconnectivity. It plays a crucial role in promoting the high-end, intelligent, and green transformation of the manufacturing industry and improving the modern industrial system [9]. Overall Requirements - By 2028, the goal is to formulate over 20 national and industry standards to establish a foundational standard system for the metaverse industry. By 2030, this number is expected to exceed 50, with a focus on key standards that support high-quality future industrial development and promote the globalization of the metaverse industry [3][11]. Construction Ideas - The metaverse industry standard system will consist of six parts: 1. Basic Standards 2. Supporting Capability Standards 3. General Service Standards 4. Application Standards 5. Development and Operation Standards 6. Security and Governance Standards [10][11]. Construction Content - **Basic Standards**: Include terminology and definitions, reference architecture, classification and identification, management, and testing and evaluation standards [4][17]. - **Supporting Capability Standards**: Focus on infrastructure and enabling technologies, including standards for intelligent terminals, new networks, computing power, trusted storage, and data [5][19]. - **General Service Standards**: Cover standards for digital entities, digital identities, digital content, digital assets, digital scenes, and digital-physical interaction [6][20]. - **Application Standards**: Specify requirements for the application of the metaverse in various fields such as industry, culture and tourism, broadcasting, education, social interaction, healthcare, commerce, emergency response, sports, and urban management [6][21][22]. - **Development and Operation Standards**: Include standards for design and development, system integration, and service operation [6][23]. - **Security and Governance Standards**: Address security requirements throughout the lifecycle of technologies, products, systems, applications, and services, as well as compliance requirements [6][24]. Safeguard Measures - Emphasize the need for coordinated efforts to establish a standardization technical organization in the metaverse field, involving various stakeholders from industry, academia, and research to collaboratively advance standard formulation. It also highlights the importance of international cooperation to participate in global standardization activities [25].