Market Overview - The US stock market experienced significant volatility, leading to a decline in the Hong Kong stock market, with the Hang Seng Index and the Hang Seng China Enterprises Index both dropping over 2% [1] - The Hang Seng Index closed down 2.38% at 25,220.02 points, with a total trading volume of HKD 285.7 billion, while the Hang Seng China Enterprises Index fell 2.45% [1] - For the week, the Hang Seng Index and the Hang Seng China Enterprises Index both saw a cumulative decline of 5.09%, and the Hang Seng Technology Index dropped 7.18% [1] Blue-Chip Stocks Performance - Xiaomi Group (01810) rose 1.01% to HKD 38.08, contributing 10.85 points to the Hang Seng Index, following a record buyback of 13.5 million shares at an average price of HKD 37.61 [2] - Among blue-chip stocks, only four saw gains, with Longfor Group (00960) up 1.43% and China Telecom (00728) up 0.69%, while Xinyi Solar (00968) and Link REIT (00823) faced significant declines [2] Sector Performance - Major technology stocks generally declined, with Alibaba down 4.65% and Tencent down 1.77%, while AI-related stocks also fell sharply [3] - Semiconductor stocks like SMIC and Hua Hong both dropped over 6%, and lithium stocks faced heavy losses due to regulatory changes affecting lithium futures [3][4] - The cryptocurrency market continued to experience a sell-off, with related stocks declining significantly [3] Lithium Stocks - Lithium stocks suffered major losses, with Ganfeng Lithium (01772) down 12.47% and Tianqi Lithium (09696) down 11.93% [4] - The futures market for lithium carbonate saw a limit down, with a 9% drop in the main contract [4] Cryptocurrency Market - The cryptocurrency market saw Bitcoin drop over 8% to USD 84,384, with Ethereum down over 9% [5] - Analysts suggest that the market is entering a "winter" phase, advising investors to take profits [5] Gaming Sector - Gaming stocks collectively declined, with Sands China (01928) down 5.97% and MGM China (02282) down 5.73% [6] - The Macau government projects a total gaming revenue of MOP 236 billion for the upcoming year, reflecting cautious optimism amid external uncertainties [6] Notable Stock Movements - Shide Global (00487) experienced a dramatic drop of 48.25% due to the termination of a service agreement affecting its operations [7] - Link REIT (00823) continued to face pressure, with a 7.47% decline following a downgrade in earnings forecasts [8]

Core Insights - Advanced digital technologies, particularly AI, are pivotal in global energy transition and industrial upgrading, providing tools for growth and new competitive avenues while posing systemic challenges for application [1] - Schneider Electric has positioned AI innovation as a key development strategy, leveraging over 20 years of experience in machine learning and algorithms, and has established a dedicated AI R&D team of over 350 experts globally [1] - The company has set up an AI innovation lab in China, integrating AI with electrification, automation, and digitalization to offer AI-embedded hardware and software solutions across critical sectors [1] Group 1: AI Value Realization - Schneider Electric emphasizes the need for AI to create tangible value in industries, addressing challenges related to "scene positioning" and "investment returns" through a model of "AI products + AI services" [2] - The company has demonstrated practical applications of AI, such as optimizing diatomaceous earth usage in beer production, improving filtration efficiency by approximately 20% and material savings of about 15% [2] - In collaboration with Swire Properties, Schneider Electric utilized AI models to accurately predict building cooling load demands, achieving over 5% energy savings with a prediction accuracy exceeding 95% [2] Group 2: Operational Innovations - Schneider Electric has implemented AI across its supply chain, achieving a 98% order delivery rate at its Shanghai Putuo factory, which has been recognized as a "lighthouse factory" by the World Economic Forum [3] - The company focuses on ecosystem innovation, emphasizing collaboration across the AI industry chain to accelerate R&D and application, particularly in addressing energy transition challenges [3] Group 3: Industrial AI Potential - The industrial sector, a backbone of the economy, is seeing AI's value emerge in various applications, including predictive maintenance and machine vision quality inspection [4] - AI technologies are enhancing operational efficiency in supply chains through smart warehousing and logistics, driving automation in hardware facilities [4] - Schneider Electric identifies AI as a critical tool for industrial enterprises facing the challenge of "incremental growth without revenue increase," enabling cost reduction and efficiency improvements [5] Group 4: Ecosystem Collaboration - The company highlights the importance of ecosystem collaboration for AI application, forming partnerships to develop digital solutions and advance new energy systems [6] - Schneider Electric's collaboration with cloud service providers like Alibaba Cloud aims to leverage AI models for predictive maintenance and microgrid scheduling, creating a complete industry chain from basic tools to customized delivery [6] Group 5: Future Directions - The future of AI in industrial applications is focused on scaling mature applications and fostering innovation through partnerships, transitioning from "point optimization" to "global optimization" [6] - Schneider Electric aims to integrate AI deeply with energy technology to drive efficiency and sustainability across various industries, showcasing its role as a leader in energy technology [7]

Core Viewpoint - Kuaishou-W (01024) maintains a "buy" rating with Q3 revenue growth of 14% to 35.6 billion yuan, driven by online marketing and e-commerce, with AI technology enhancing core operations [1] Performance Summary - In Q3 2025, the company achieved revenue of 35.6 billion yuan (up 14% YoY) and profit of 4.49 billion yuan (up 37% YoY), with adjusted net profit at 4.99 billion yuan (up 26% YoY) [1] - Online marketing service revenue reached 20.1 billion yuan (up 14% YoY), primarily due to AI-driven upgrades in marketing products [1] - Live streaming revenue was 9.6 billion yuan (up 3% YoY), while other service revenue was 5.9 billion yuan (up 41% YoY), benefiting from increased e-commerce GMV and enhanced capabilities of KuaLing products [1] - Q3 gross margin was 54.7% (up 0.4 percentage points YoY), with net profit margin increasing by 2.1 percentage points YoY to 12.6% [1] - Projected net profits for 2025-2027 are 18.05 billion, 19.29 billion, and 21.99 billion yuan, with corresponding PE ratios of 14.2, 13.3, and 11.7 times [1] AI Technology and Business Growth - AI technology iteration is driving core business growth, with the launch of the OneRec generative recommendation model and G4RL bidding model contributing to a 4-5% increase in online marketing service revenue in Q3 2025 [2] - AIGC marketing materials generated over 3 billion yuan in service consumption, and UAX's penetration rate exceeded 70% [2] - The OneSearch generative search architecture improved product matching and user experience, leading to a nearly 5% increase in search order volume [2] - KuaLing AI generated over 300 million yuan in revenue in Q3 2025, with continuous enhancements in basic model capabilities [2] User Engagement and E-commerce Growth - User scale and engagement showed growth, with average DAU and MAU reaching 416 million and 731 million respectively (up 2.1% and 2.4% YoY) [3] - Daily active users spent an average of 134.1 minutes per day on the platform (up 3.6% YoY) [3] - E-commerce GMV reached 385 billion yuan (up 15% YoY), with the company attracting more merchants and encouraging product diversity [3]

财报显示，报告期内汇量科技实现营收5.32亿美元，同比增长27.6%;实现毛利1.11亿美元，同比增长 26.4%;经调整EBITDA达4705万美元，较2024年同期的大幅增长37.3%，核心业务盈利能力与成本控制 水平持续优化。 核心业务板块中，汇量科技旗下程序化平台 Mintegral 相关收入保持稳健增长态势，为整体业绩增长提 供了坚实支撑。报告期内，Mintegral 录得收入5.08亿美元，同比增长26.2%，占集团总收入约95.5%。 智通财经APP获悉，11月21日，汇量科技(01860)公布截至2025年9月30日止三个月的业绩表现。财报显 示，第三季度，公司整体经营状况良好，核心业务持续增长。 展望未来，随着AI和机器学习技术在广告投放领域的深入应用和市场认可度的不断提高，汇量科技有 望进一步巩固其在程序化广告领域的领先地位，持续推动公司业绩的高质量发展。 值得关注的是，Mintegral 自 2023 年 5 月以来推出的 4 款基于 AI 与机器学习的智能出价产品，围绕广 告主核心诉求持续优化投放效果，赢得了广泛认可。报告期内，智能出价产品体系贡献的收入占 Mintegral 总收入比 ...

董秘回答(北元集团SH601568)： 尊敬的投资者，您好。感谢您对公司的关注以及提出的宝贵建议。公司将结合自身发展战略，在符合公 司实际情况的前提下，积极探索新兴产业投资机会。谢谢！查看更多董秘问答>> 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 投资者提问： 管理层能不能与时俱进，灵活一点，大胆一点，时髦一点，把分红的钱，拿来投资点新兴产业？比如 AI？机器人？算力？芯片？等国家重点扶持的高端产业方向？ ...

亚商投顾曾宪瑞老师提醒大家：股市有风险，投资需要多加小心，避免不必要的风险。 一、大盘 1.盘面 上证指数早盘小幅低开，随后震荡下跌，午后跌幅进一步加大，截止收盘，指数下跌2.45%，收出大阴线，全天成交额8249亿，相比上交易日的7113亿，增 加了1136亿。 深证成指早盘大幅低开，随后震荡回落，午后反拉之后再度下跌，截止收盘，指数下跌3.41%，收出大阴线，全天成交额1.14万亿，相比上交易日的9968 亿，增加了1432亿。 2.技术分析 图片来源：东方财富 上证指数今日低开低走，大幅下跌，并且失守60日均线，短期空头格局更盛。从技术面来看，MACD指标绿柱体持续放大，DIFF线与DEA线进一步下探， 死叉信号强化，表明空头动能强劲且无收敛迹象。同时，RSI指标虽处于超卖区间，但未形成有效底背离，暗示反抽空间有限；KDJ指标中K线与D线延续下 行趋势，J值反弹乏力，金叉形态难现，反映市场信心疲软。量能方面，成交额并无明显改善，资金入场意愿低迷，若缺乏增量支撑，反弹易夭折。操作 上，投资者需保持谨慎，避免盲目抄底，紧盯MACD柱体收敛或量能放大信号，以把握更安全的入场时机。 深证成指今日跳空低开，震荡下 ...

中经记者吴清北京报道 在新一轮全球产业重构的浪潮中，供应链的韧性正成为国家与区域竞争力的关键支点。如今，亚太地区 正以一场深度协同的集体行动，将"韧性共识"从理念探索转化为具体路径。 近日，《中国经营报》记者从2025亚太纺织服装供应链高峰论坛获悉，本次论坛多维度解析了亚太纺织 服装供应链发展路径，阐述中国在"双循环"新格局下的产业优势与愿景，剖析了全球贸易新形势下的供 应链挑战与战略机遇，揭示区域产能合作与市场联通潜力，为亚太纺织服装供应链重构竞争逻辑提供战 略蓝图。 多位产业人士向记者表示，在全球经贸形式不确定性增加以及AI浪潮席卷而来的当下，通过各方合作 和区域协同，增强供应链韧性是大势所趋。纺织服装产业亚太地区的深化沟通合作，为全球各行业领域 提供了一个可资借鉴的产业链协同的新范式。 在夏令敏看来，未来纺织产业发展趋势将聚焦四大方向：科技创新成为核心驱动力，重点突破先进纺 织、绿色纺织等四大领域关键技术，智能车间、高端装备国产化率持续提升；绿色低碳转型全面提速， 印染行业通过源头减量、过程控制等路径推进低碳发展，循环经济理念深度融入产业链；数字化转型加 速落地，数智赋能生产、设计、物流全环节；品牌建设 ...

其中，"AI超级客服"为首次亮相且最受关注，基于统一AI服务入口，"AI超级客服"连接平安全量的金 融、医疗、养老与生活服务，背后是中国平安试图让AI走向更前端、改造服务逻辑的初心。 一句"我的车坏了"，AI自动识别故障类型、调度救援资源；一次健康咨询，AI完成预诊、分诊后无缝衔 接三甲医院专家；一套融合多模态和毫米波技术的系统，无感守护独居老人的呼吸心跳与跌倒风险—— 这就是中国平安正用AI代码编织现在与未来。 近日，中国平安首席技术官王晓航在第十九届深圳国际金融博览会上，介绍了面向终端用户的基于专 业"金融顾问、家庭医生、养老管家"愿景的三大AI服务：AI超级客服、AI家庭医生和AI养老管家。 王晓航在接受采访时阐释，与移动互联网时代的"一站式货架"不同，AI超级客服是"跨平台的智能体"， 可嵌入APP，未来还可嵌入穿戴设备、居家养老终端等，实现"问答、办事、应急"三位一体。 三大AI服务矩阵浮出水面，超级客服C位出道 王晓航阐释，采用"超级"二字，不在于其非常酷炫或先进，而是强调它超级有用，更加全能。 把复杂留给自己，把简单留给客户，是平安一以贯之的理念，"省心、省时、省钱"从来都不是一句口 号。 早年 ...

当一众媒体还在为 Gemini 3 Pro 的上线惊呼"变天""地震""炸裂"时，一家中国大厂已喊出 AI 单品年赚 10 亿的目标——令人意外的是，这款 AI 单品并非出 自聚光灯下的阿里、腾讯、百度，也非出自字节跳动、月之暗面等水下的独角兽，而是昔日下沉市场"四大天王"之一的快手。 其底气源自 2025Q3 超预期的财报表现：营收同比增长 14.2% 达 355.54 亿元，创近 6 个季度最好同比增速；其中，可灵 AI 单季度营收超 3 亿元——无论模 型优势还是盈利能力均走在本轮 Al 浪潮前列。 出品｜虎嗅黄青春频道 作者｜商业消费主笔 黄青春 题图｜视觉中国 同期，快手经营利润同比增长 69.9% 达 53 亿元，经调整净利润同比增长 26.3% 至 49.9 亿元——这一利润水平已比肩许多明星大厂，京东 Q3 归母净利润 53 亿，百度甚至亏损 112 亿。 事实上，自 2023 年 AI 热浪席卷互联网至今，大厂叙事里 AI 一直是"吞金兽"的角色——不仅吃掉了买量/资本开支/销售及市场推广的大头，还在不断挤占 现金流及业务资源；但快手却实现了 AI 业务的商业化突破——在 11 月 19 日 ...

RT YZi Labs (@yzilabs)YZi Labs x @BNBCHAIN present EASY Residency S2 Demo Day at BBW.> 19 founder pitches across Web3, AI, Biotech (incl. BNB Chain MVB builders)> Welcome remarks from @cz_binance @heyibinance> Top investors & partners all in one place👇 Register now.https://t.co/mLDShTYpu7 https://t.co/AbqqtigEb4 ...