Core Insights - Alibaba Group disclosed a significant asset transaction in its mid-term report for the fiscal year 2026, completing the sale of 85% equity in the Turkish food delivery platform Trendyol GO for $700 million, resulting in approximately 6 billion RMB in gains, which will be reinvested into AI and cloud computing core businesses [2][3] Group 1: Transaction Details - The agreement for the sale was signed in May 2025, and the transaction was completed in September 2025 [2] - Trendyol GO, a key player in Turkey's instant retail market, processed over 200 million orders last year, with a transaction volume of $2 billion, marking a 50% year-on-year growth [2] - Alibaba retains a 15% stake in Trendyol GO, allowing for future collaboration while realizing the value of a core asset [2] Group 2: Strategic Focus - This transaction aligns with Alibaba's "focus on core" strategy, emphasizing AI-driven and cloud-first initiatives [3] - The company has initiated a 380 billion RMB investment in AI infrastructure, aiming to increase the energy efficiency of Alibaba Cloud's global data centers by tenfold by 2032 [3] - Alibaba has been regularly divesting non-core assets, including traditional retail businesses and stakes in various companies, to streamline its asset structure [3] Group 3: Performance and Market Position - Alibaba Cloud reported a 34% year-on-year revenue growth in the latest quarter, with AI-related product revenues experiencing triple-digit growth for nine consecutive quarters, indicating the effectiveness of the strategic focus [3] - Analysts suggest that the local lifestyle segment represented by Trendyol GO has low relevance to Alibaba's core AI and cloud direction, making the divestment a strategic move to enhance resource allocation in key areas [3]

Core Viewpoint - The revised "Regulations on Emergency Response to Sudden Incidents" in Guangdong Province emphasizes the integration of advanced technologies such as the Internet, cloud computing, big data, and artificial intelligence in emergency management, effective from January 1, 2026 [1][2]. Group 1: Technological Integration - The revised regulations mandate the government to enhance the application of modern technologies in emergency response, providing intelligent services for hazard identification, early warning, and decision-making support [1]. - There is encouragement for research and promotion of key technologies and modern methods by educational and research institutions, as well as enterprises, particularly in emergency robotics [1]. Group 2: Emergency Rescue System - The regulations outline the construction of an aviation emergency rescue system, including the establishment of helicopter and drone application in emergency rescue operations, tailored to complex terrain conditions [1]. - It specifies the immediate activation of emergency responses following an incident, detailing the responsibilities of the government and relevant units in emergency management [1]. Group 3: Post-Incident Measures - After controlling or eliminating a sudden incident, the regulations require timely announcement of the cessation of emergency responses and the implementation of measures to prevent secondary incidents [2]. - It includes provisions for recovery planning, social order restoration, and transitional support for affected individuals, ensuring their safety and basic living needs [2].

（原标题：主力资金丨出手超24亿元，这只龙头股获资金爆买！） 6个行业获主力资金净流入。 此外，还有天孚通信、宁德时代、航天发展、长川科技等主力资金净流入金额居前，均超5亿元。 25个主力资金净流出的行业中，电子行业主力资金净流出56.69亿元，居首；电力设备行业主力资金净流出金额超38亿元，有色金属、医药生物和 基础化工等行业净流出均超18亿元，居前列。 两只人形机器人概念股受青睐 从个股来看，50股主力资金净流入均超1亿元，其中18股净流入金额均超2亿元。 两只人形机器人概念股获主力资金大幅抢筹。龙头股三花智控主力资金净流入24.25亿元，居首；该股今日上涨7.51%，成交额达144.82亿元。巨 轮智能涨停，主力资金净流入8.62亿元，居次席，净流入额创2025年9月2日以来新高。 据证券时报·数据宝统计，今日（12月4日）沪深两市主力资金净流出214.71亿元，其中创业板净流出93.48亿元，沪深300成份股净流出31.92亿元。 行业板块方面，申万一级9个行业上涨，机械设备行业涨幅居首，达0.9%；电子、国防军工、通信和有色金属行业涨幅居前。22个下跌行业中， 综合行业跌2.11%，居首。美容护理、 ...

会议要求，要坚持系统观念，积极谋划新阶段工作目标和重点任务，将工业互联网与制造业数字化转 型、智能制造、"人工智能+制造"等工作有机结合，加强部际、部内协同。要坚持守正创新，横向统筹 推进政策、设施、技术、应用、生态发展体系，纵向系统布局网络、标识、平台、数据、安全功能体 系。要坚持问题导向，解决工业设备联网率不高、高质量数据价值释放不够充分等问题，实施工业互联 网与重点产业链"链网协同"行动，打造一批适配的工业互联网解决方案。要坚持底线思维，构建工业互 联网安全保障体系，加快突破关键核心技术，推动实现关键信息基础设施自主可控。 人民财讯12月4日电，12月4日，工业和信息化部党组开展理论学习中心组学习。会议强调，要准确把握 深入推进工业互联网创新发展工作的内在规律。体系化是独特优势，要将体制机制、市场规模、基础设 施、技术产品等方面优势发挥好、利用好。时代化是内在动力，要在自动化、信息化发展基础上，推动 工业互联网与人工智能、5G、大数据、云计算等技术互促发展。融合化是根本要求，要加快工业互联 网创新发展，推动信息化和工业化、实体经济和数字经济、科技创新和产业创新、先进制造业和现代服 务业深度融合。 ...

Core Insights - The article highlights the strong pulse of technological innovation in the Guangdong-Hong Kong-Macao Greater Bay Area, showcasing the integration of finance and technology as a core competitive arena [2] - It emphasizes the shift in financial services from traditional lending models to a more ecosystem-oriented approach that supports the entire lifecycle of tech enterprises [2][7] Group 1: Financial Services Transformation - The traditional financial model, which relies heavily on collateral and financial statements, creates a significant gap for high-tech startups, leading to challenges in securing financing [3] - 恒丰银行 (Hengfeng Bank) is addressing this gap by forming specialized teams that understand the industry, policies, and finance, and by offering customized financing solutions like "factory mortgage loans" tailored to the growth cycles of tech companies [5][7] - The bank has successfully provided over 1 billion yuan in loans to 24 small and micro enterprises in the增城数创中心 (Zengcheng Digital Innovation Center), with 50% of these companies achieving their first financing breakthrough [7] Group 2: Support for High-Tech Enterprises - Guangdong 蓝科车仆实业有限公司 (Blue Science Carpu Industrial Co., Ltd.) benefited from a 3.35 million yuan factory mortgage loan with a 20-year term, which aligned with its long-term development plans [6] - 广州玛太电子有限公司 (Guangzhou Matai Electronics Co., Ltd.) received a 7.66 million yuan factory mortgage loan along with payroll services, demonstrating a comprehensive financial support model [6] - The bank's innovative risk assessment system moves away from traditional collateral models, focusing instead on technology barriers, market potential, and team capabilities [7][15] Group 3: Comprehensive Financial Support in Shenzhen - 恒丰银行's Shenzhen branch has provided 5.6 billion yuan in loans to tech enterprises since its establishment, positioning itself as a key player in the regional tech finance ecosystem [8][11] - The partnership with 大族激光科技产业集团股份有限公司 (Han's Laser Technology Industry Group Co., Ltd.) exemplifies a strategic collaboration where financial services extend beyond mere funding to include industry insights and support for supply chain stability [11][12] - The bank's services encompass a full range of financial needs, from working capital to long-term funding strategies, ensuring a stable supply chain for its clients [12] Group 4: Ecosystem Collaboration - The development of a robust ecosystem for tech finance relies on collaboration among banks, government, and enterprises, with Shenzhen's government providing risk compensation funds to enhance banks' confidence in lending to tech firms [13] - In Guangzhou, 恒丰银行 collaborates with innovation parks to improve service efficiency and reduce costs, addressing information asymmetry between banks and enterprises [14] - The bank employs advanced technologies like AI and big data to enhance risk management and streamline the evaluation process for tech enterprises [15] Group 5: Future Directions - 恒丰银行 aims to deepen its focus on supporting enterprises with advanced technology and innovation capabilities, particularly in critical areas of national technological innovation [16] - The bank is committed to enhancing its role in supporting industrial innovation and contributing to high-quality development in the financial sector [16][17]

Core Insights - JD Group successfully held the "TGT Fuel Journey" technology open day event, focusing on the integration of cutting-edge technologies like artificial intelligence with industry trends [1] - The event provided a platform for outstanding technical talents to engage with technology leaders, showcasing JD's technology strategy, industry practices, and talent philosophy [1][3] Group 1: Talent Development - JD Group's SEC Vice Chair and CEO Xu Ran emphasized that talent is paramount, stating that all achievements stem from the team, and the primary virtue of corporate management is talent cultivation [3] - The company aims to create a fertile technological environment, encouraging young technical talents to transform cutting-edge technologies into industrial value while fostering curiosity and creativity [3] Group 2: AI Strategy - During the technology roundtable, JD's technology leaders shared insights on their AI strategy, with a focus on the competitive landscape of cloud computing [5] - JD Cloud's core advantage lies in its deep understanding of complex retail, logistics, and health scenarios, with a commitment to substantial investment in talent and resources [6] - The research institute has evolved from early-stage exploration of frontier technologies to a dual mission of "forward-looking research" and "key technology breakthroughs," emphasizing innovation as its core [6] Group 3: E-commerce Transformation - JD's AI strategy is not only about applying new technologies but also about creating a closed loop between self-developed technologies and business scenarios, aiming to build the next generation of AI-driven e-commerce [6] - Two employees who joined through the TGT program shared their experiences, highlighting JD's commitment to nurturing technical newcomers and its open and inclusive technical culture [6] Group 4: Immersive Experience - The event included immersive experiences such as a technology market, JD Pilot Space visits, and in-depth business line exchanges, allowing participants to experience the application of JD's technology in real-life scenarios [8] - The "TGT Fuel Journey" is a key component of the TGT program, designed to help young technical talents understand JD's mission of "technology-based, making life better" [8] - JD plans to continue investing in and nurturing top technical talents, creating an open, cutting-edge, and challenging platform to attract and support global top technical talents [8]

Core Viewpoint - The Hong Kong stock market is showing positive momentum, particularly in the AI sector, with major tech stocks experiencing gains, indicating a favorable investment environment [1][2]. Group 1: Market Performance - The Hang Seng Technology Index rose by 0.7%, with notable gains in AI-related stocks such as Xiaomi Group, which increased by nearly 3%, and Bilibili-W, which rose over 2% [1]. - The Hong Kong Internet ETF (513770) saw its price rise by over 1% at one point, reflecting strong buying interest [1][2]. Group 2: Company Insights - Xiaomi Group's President, Lu Weibing, indicated that the company has significantly advanced its AI investments, exceeding internal expectations, although specific details remain undisclosed [2]. - The Hong Kong Internet sector is showing signs of bottoming out, with analysts suggesting that the market is nearing a "bad news fully priced in" state, as previous risks have been largely addressed [2]. Group 3: Investment Opportunities - The Hong Kong stock market serves as a unique bridge connecting Chinese innovation with global capital, featuring several platform-based tech giants and leaders in hard technology [2]. - The Hong Kong Internet ETF (513770) and its associated funds are designed to passively track the CSI Hong Kong Internet Index, which heavily weights leading internet companies like Alibaba-W, Tencent Holdings, and Xiaomi Group, accounting for over 73% of the top ten holdings [2][3]. Group 4: ETF Details - The Hong Kong Internet ETF (513770) has surpassed a scale of 10 billion, with an average daily trading volume exceeding 600 million, providing good liquidity and allowing for T+0 trading without QDII quota restrictions [3]. - The top three holdings in the ETF are Alibaba-W (18.89%), Tencent Holdings (17.01%), and Xiaomi Group-W (10.05%), indicating a strong focus on major players in the internet sector [3].

来源：新浪基金 从近期走势看，港股互联网板块近期呈现磨底迹象。分析指出，当前市场已接近"利空出尽"状态，前期 压制的核心风险点如中美贸易摩擦、海外流动性宽松交易回摆及"外卖大战"对互联网板块盈利的冲击已 在回调过程中释放相对充分，因此当前市场点位下行空间相对有限 港股作为连接中国创新与全球资本的独特桥梁，汇聚了一批A股稀缺的平台型科技巨头与硬科技领军 者，这些企业在AI大模型、云计算、智能硬件、半导体等关键领域已深度嵌入全球供应链，并开始从 技术投入期迈入价值兑现期。当前或正在进入布局区，左侧投资者可以逐步建仓 港股互联网ETF（513770）及其联接基金（A类017125；C类017126）被动跟踪中证港股通互联网指 数，该指数重仓互联网龙头阿里巴巴-W、腾讯控股、小米集团-W是其前3大权重股，权重占比分别为 18.89%、17.01%、10.05%，前10大持仓汇聚AI云计算、大模型+各领域AI应用公司，合计占比超 73%，龙头优势显著。 港股互联网ETF（513770）最新规模超百亿，年内日均成交额超6亿元，支持日内T+0交易，不受QDII 额度限制，流动性佳！ | 十大权重 | | | | 更新日期: ...

Core Viewpoint - The Hong Kong stock market shows positive momentum, particularly in the AI sector, with major tech stocks experiencing gains, indicating a favorable investment environment [1][3]. Market Performance - The Hang Seng Technology Index rose by 0.7%, with notable gains in AI-related stocks such as Xiaomi Group, which increased by nearly 3%, and Bilibili-W, which rose over 2% [1][3]. - The Hong Kong Internet ETF (513770) saw its price rise by 0.74%, reflecting strong buying interest and a positive market sentiment [1][7]. Investment Opportunities - The Hong Kong Internet ETF (513770) tracks the CSI Hong Kong Internet Index, which heavily weights leading internet companies like Alibaba-W (18.89%), Tencent Holdings (17.01%), and Xiaomi Group-W (10.05%), collectively representing over 73% of the top ten holdings [3][9]. - The ETF has a market size exceeding 10 billion, with an average daily trading volume of over 600 million, indicating good liquidity and accessibility for investors [3][9]. Sector Analysis - The Hong Kong internet sector is showing signs of bottoming out, with previous risks such as US-China trade tensions and the impact of the "takeout war" on profitability being largely priced in [3][9]. - Companies in the sector are transitioning from a technology investment phase to a value realization phase, particularly in AI, cloud computing, and semiconductor industries [3][9]. Strategic Insights - Investors looking to reduce volatility while maintaining exposure to technology can consider the Hong Kong Large Cap 30 ETF (520560), which combines high-growth tech stocks with stable dividend-paying companies [4][10].

作为数字经济的重要引擎，平台经济正加速向专业化、智能化方向演进。南京凯奥思数据技术有限 公司推出的全国首个数据要素创新示范平台——"超思"设备精护平台，聚焦工业设备预测性维护领域， 依托物联网传感器实时采集振动、温度等多维运行数据，融合边缘计算与云端大数据建模技术，构建 起"远程监控—智能预警—自动诊断—主动运维"的全链条闭环服务体系。 在数据要素市场化配置改革方面，南京也走在前列。本次共有4个来自南京的案例入选该类别。针 对水利行业数据孤岛、标准不一、共享不畅等问题，南京中禹智慧水利研究院有限公司创新打造以数据 要素底板为基础，模型、知识平台为核心，以"无/少代码"一体化智能应用搭建环境的智能中枢，支撑水 利业务场景实现"历史可重现、现实可演绎、未来可预知"，同时归集水利数字资源统一封装，基于资产 化管理为各企事业单位搭建核心技术和产品线上交易平台。 值得一提的是，雨花台区作为南京数字经济发展核心承载区，集聚涉软企业超4800家、软件从业 人员37万余人，2025年软件业务收入突破3000亿元，占全市35%、全省20%，成为全省软件产业发展 的"压舱石"。此次该区有6个案例入选，占全市入选数量的三分之一，表 ...