据北京青年报，12月12日，外交部发言人郭嘉昆主持例行记者会。 郭嘉昆回应，我们注意到有关报道，各方应该遵守市场经济和公平竞争原则，共同维护全球产供链稳定。 有记者提问，昨天，美方同日本、韩国、澳大利亚等8国就加强稀土供应链签署了协议，并且提出将会同中方竞争AI方面的技术。中方对此有何评 论？ ...

Core Viewpoint - The report from CITIC Securities highlights the robust financial performance of Sanqi Interactive Entertainment, with a significant year-on-year increase in net profit for the first three quarters of 2025, indicating strong growth potential in the gaming industry [1] Financial Performance - For the period of January to September 2025, the net profit attributable to shareholders reached 2.345 billion yuan, representing a year-on-year growth of 23.57% [1] - In Q3 2025, the net profit attributable to shareholders was 944 million yuan, showing a remarkable year-on-year increase of 49.24% [1] - The non-recurring net profit for Q3 was 870 million yuan, reflecting a year-on-year growth of 45% [1] Dividend Distribution - The company plans to distribute a cash dividend of 2.10 yuan for every 10 shares to all shareholders [1] Product and Technology Development - The company has a rich product matrix, and its future pipeline is expected to be promising [1] - There is a commitment to deeply integrate AI technology into game development and operations [1] Regulatory Environment - The company has addressed regulatory risks, which is anticipated to lead to a recovery in its valuation [1]

新年新气象，创意正当时！由广东省文化馆、广东省文化馆联盟携手全省各级文化馆共同推出的"粤新 年·创未来"2026年广东数字文化推广活动，将于2025年12月16日至2026年3月3日（正月十五）热力全 开！ 据了解，今年特别注入AI能量，推出萌趣数字IP"粤小骏"，以新媒体（微信视频号、微信公众号 等）、"文化在线"广东公共数字文化联盟平台、"育美同行"广东城乡全民美育数字服务平台和全省各级 文化馆媒介平台为主要宣传阵地，围绕"艺起探AIGC""文化推介官""艺起寻岭南""艺起逛云展""艺起看 直播"五大板块，打造一场融合科技感、年轻态与岭南风的新春数字文化盛宴。 "AIGC+年俗"，推动群众文化和AI技术融合 本次活动聚焦文化与科技融合，融合AIGC、短视频、网络直播、IP形象等推出系列公共数字文化惠民 服务。重点推出"艺起探AIGC"系列直播活动，围绕《粤新年·AI创作指南》及专属岭南文化元素素材 库，从入门到进阶，手把手教学AI绘画、视频生成，鼓励群众用AI技术创作，推动AIGC技术与文化深 度融合。打造数字IP形象"粤小骏"，融合马年吉祥寓意与岭南文化符号，并推出微信表情包、四季主题 手机壁纸等系列数 ...

Core Insights - The "14th Five-Year Plan" emphasizes the importance of original innovation and key core technology breakthroughs for high-quality development in manufacturing, with TCL showcasing its advancements in the printing display sector at the TIC2025 conference [1] - TCL has achieved a significant milestone with the construction of the world's first 8.6-generation printing OLED production line, marking a transition to large-scale production and solidifying its global leadership in next-generation display technology [1][2] Group 1: Technological Advancements - TCL Huaxing has overcome critical challenges in the printing OLED field, becoming the first Chinese company to lead and achieve large-scale production of this important display technology [2] - The self-developed printing OLED production line offers significant advantages over traditional OLED technology, including lower energy consumption, reduced resource usage, and higher material utilization rates, aligning with green development principles [2] - The introduction of the Real Stripe RGB pixel arrangement in the printing process addresses traditional display issues, resulting in a qualitative leap in image clarity [2] Group 2: Product Applications - TCL Huaxing's printing display technology has achieved full-size coverage, with the launch of the world's first Real Stripe RGB OLED smartphone screen, featuring a high resolution of 390 PPI and superior visual detail [3] - The unique Blue Less technology in the printing OLED reduces blue light, enhancing eye comfort for users [3] Group 3: Innovation and AI Integration - TCL's achievements in the printing display sector are supported by consistent R&D investment and a robust innovation system, integrating AI technology to enhance efficiency across the entire production process [4] - The implementation of the Auto Defect Classification (ADC) technology has improved defect detection accuracy from 85% to 95%, with further advancements leading to the Auto Defect Repair (ADR) system [4] - The integration of AI in the semiconductor display industry has resulted in significant cost reductions and increased production efficiency, contributing to the widespread adoption of OLED technology [4] Group 4: Market Position and Impact - TCL Huaxing holds the leading global market position in various display categories, including 55-inch and larger TV panels, and is poised to further strengthen its industry leadership through the large-scale application of printing display technology [4] - The widespread adoption of this technology is expected to accelerate upgrades in the global display industry and make high-end display products more accessible to consumers [4]

Core Insights - The core focus of the event was the launch of an AI-driven integrated solution for business and finance, termed "业·财·票·税·档" [2] - The solution aims to achieve three main goals: full electronic management of business and finance processes, seamless data sharing and conversion, and proactive risk compliance control [2] Group 1 - The four foundational capabilities of the solution are "automatic transfer, intelligent control, efficient reconciliation, and comprehensive archiving," which support eight collaborative scenarios: marketing, contracts, projects, procurement, reimbursements, assets, personnel, and archives [2] - The essence of business-finance integration is to break down data barriers between business and finance, enabling real-time data sharing and interaction [2] - The promotion of electronic invoices and the maturity of AI technology are driving the practical implementation of business-finance integration [2] Group 2 - The platform integrates six core technologies: AI intelligence, digital trust, rule engine, accounting engine, process engine, and low-code development [3] - AI technology facilitates automated processing of business and finance documents, reducing manual operations [3] - The company has over 20 years of experience in collaborative office and business-finance fields, serving more than 80,000 medium to large organizations, with over 30,000 clients specifically in the business-finance sector [3]

Core Viewpoint - The article discusses the increasing issue of fraudulent refund claims in e-commerce due to the misuse of AI technology, highlighting a case where a customer used AI-generated content to deceive a seller into issuing a refund. This situation reflects a broader trend where both consumers and sellers are caught in a cycle of deception facilitated by AI tools. Group 1: Fraudulent Activities - A case in Jiangsu involved a seller who faced a refund request for "6 dead crabs," which was later revealed to be a scam using AI-generated videos [6][10] - The rise of AI image editing has made it easier for consumers to create convincing fake evidence to support refund claims, leading to significant challenges for sellers [7][12] - The cost of creating fake images has become nearly zero, allowing consumers to exploit refund policies with minimal effort [12][14] Group 2: Seller Challenges - Many sellers report that even obvious fake images are often accepted by e-commerce platforms, leading to financial losses [8][16] - The rapid approval of refund requests, sometimes within minutes, has left sellers vulnerable to fraudulent claims [10][16] - Sellers are forming mutual aid groups to share experiences and strategies for identifying fake claims and protecting their businesses [25][26] Group 3: Consumer Experience - Consumers are also facing challenges as AI-generated images can misrepresent products, leading to dissatisfaction upon receiving items that do not match their expectations [18][20] - The use of AI digital models in marketing has created confusion among consumers regarding the actual quality of products [18][23] Group 4: Regulatory Response - A commitment has been made by major e-commerce platforms to establish guidelines for the ethical use of AI technology, aiming to address the issues of fraud and misrepresentation [24][26] - Despite existing regulations, enforcement remains a challenge, and sellers often find themselves needing to fight for their rights [25][26] - E-commerce platforms are beginning to develop AI detection capabilities to combat fraudulent activities, but these measures are still in the early stages [26]

Core Viewpoint - The company held a performance briefing on December 11, 2025, to discuss its operational performance and profit distribution with investors, addressing key concerns raised during the session [1]. Group 1: Company Performance and Projects - The Hengning project is expected to achieve breakeven as the second phase is put into production, with improved operational conditions anticipated [2]. - The company's total production capacity is 111,200 tons, with 32,700 tons for active ingredients and 78,500 tons for formulations [3]. - The company reported a significant increase in sales expenses in Q3, attributed to the full-chain plant protection services provided to various crops [3]. - The decline in profit reported in the Q3 financials was due to maintenance activities at the active ingredient factory, leading to increased management costs [4]. Group 2: Market Outlook and Innovations - The company anticipates stable prices in the pesticide market for Q1 of the following year [5]. - The second phase of the Hengning project has begun trial production of several products, with plans for further investment to enhance product structure and competitiveness [7]. - AI technology is being explored for drug development and production efficiency, although specific quantitative data on its impact is not yet available [8]. Group 3: Product Lines and Agricultural Support - The core product lines include organic water-soluble fertilizers, macro-element water-soluble fertilizers, and microbial fertilizers, with various application methods tailored to different crops [9][10]. - The company is actively involved in rural revitalization efforts, providing technical services and customized agricultural solutions to enhance crop yields and farmer incomes [13]. - The company has established a comprehensive supply chain service model to support farmers, addressing challenges in agricultural production and logistics [14].

Core Viewpoint - The gaming industry is experiencing a sustained upward trend, with a solid foundation for valuation recovery, particularly for leading companies like 37 Interactive Entertainment [1] Group 1: Industry Overview - The gaming sector is benefiting from a combination of policy, technology, and capital, creating a new investment window. Since 2025, both domestic and imported game licenses have been issued monthly, leading to a significant increase in supply and boosting market confidence. As of November this year, 1,532 domestic licenses and 92 imported licenses have been issued, marking a substantial year-on-year increase. The total revenue of China's gaming market grew by 7.11% year-on-year in the first three quarters [2][3] - The deep integration of AI technology is reshaping research and operations, driving cost reduction and content upgrades, which further enhances performance expectations for the sector. The ongoing expansion of overseas markets continues to open up growth potential for the industry [2] Group 2: Investment Trends - There is a noticeable trend of funds increasing their holdings in the gaming sector. In Q3 2025, active funds significantly increased their positions in gaming stocks, with 7 out of the top 10 media stocks being gaming companies, indicating that gaming is becoming a primary focus for fund allocation in media [3] - The overall valuation of the gaming sector remains low, with potential for significant upward movement as previous deep adjustments have created a favorable environment for recovery. According to research from Zheshang Securities, the gaming sector is expected to reach a 20x P/E valuation by 2026, compared to the current average of approximately 16x P/E [3] Group 3: Company Spotlight - 37 Interactive Entertainment - 37 Interactive Entertainment exemplifies a strong performer with robust earnings growth, high dividends, and low valuation, making it an attractive investment opportunity. In Q3, the company achieved a net profit of 944 million yuan, a year-on-year increase of 49.24%, surpassing previous expectations [5] - The company has optimized cost efficiency, with a 24% year-on-year decrease in sales expenses, leading to an improved profit outlook. Additionally, 37 Interactive is exploring AI capabilities and expanding its overseas presence, which are expected to contribute to sustainable growth [6] - The company's overseas revenue has grown significantly from 356 million yuan in 2015 to 5.722 billion yuan in 2024, representing an approximate 15-fold increase. In the first half of this year, overseas business accounted for 32.1% of total revenue [6] - 37 Interactive maintains a high dividend payout, with a Q3 cash dividend of 2.10 yuan per 10 shares, totaling 462 million yuan. Combined with previous dividends, the total payout for the year is expected to reach 1.386 billion yuan, representing 59% of net profit, which is significantly higher than the industry average [7] - The current valuation of 37 Interactive is substantially below its historical average and the reasonable valuation of 30x for leading gaming companies, with a PE-TTM of less than 15x and a PB at historical lows, indicating considerable room for valuation recovery [7]

Core Insights - The collaboration between拓竹 and Tencent has led to the launch of a new 3D model generator named "印你," aimed at simplifying the 3D modeling process for ordinary users through AI technology [1][2] - The underlying technology from Tencent's mixed Yuan 3D 3.0 model has improved modeling precision by three times compared to its predecessor, achieving a geometric resolution of 1536 and supporting ultra-high-definition modeling with up to 36 billion voxels [1] Group 1 - The new 3D-DiT hierarchical carving technology addresses common issues in AI-generated models, such as facial abstraction and detail blurriness, allowing for precise reconstruction of facial contours and clear presentation of sharp details like joints and mechanical edges [1] - The "印你" tool on the MakerWorld platform significantly simplifies the traditional figurine production process, enabling users to convert a 2D image into a 3D model by simply uploading a portrait [1] - The process includes generating a 2D stereoscopic image, automatic background removal, and stylization, ultimately producing a 3D model file that accurately reflects the face, clothing, and posture, ready for direct printing [1] Group 2 - The拓竹 MakerLab platform has launched 20 modeling tools, including "印你," serving over 2 million users globally [2] - This partnership signifies the acceleration of top-tier generative AI technology from laboratory settings to consumer applications, indicating a reduction in design cycles and a substantial release of personalized creative capabilities for 3D printing enthusiasts [2]

Core Insights - The article discusses the launch of the Yuanluobo Chess Robot, which incorporates AI technology to enhance user interaction and experience in chess playing, moving beyond traditional mechanical functions [1][4]. Group 1: Product Features - The Yuanluobo Chess Robot, powered by JoyInside technology, offers a comprehensive experience that includes teaching, emotional interaction, and real-time communication, transforming it from a mere chess tool to an AI companion [4][6]. - The robot features multi-modal understanding capabilities, allowing it to recognize moves and understand the underlying strategies, thus enabling a more engaging learning experience for users [4][6]. - It includes a complete teaching system for children and enhanced endgame training for elderly users, making it accessible for all age groups and skill levels [6][5]. Group 2: User Interaction - The robot can engage in active dialogue during games, providing commentary and encouragement, which adds emotional depth to the interaction, making it feel more like a real chess partner [4][5]. - It supports various modes of interaction, such as teaching mode and casual chat mode, allowing users to switch easily based on their needs [6][5]. - The robot's ability to handle voice commands simplifies operation for users, eliminating the need for complex setups [6][5]. Group 3: Market Trends - The integration of JoyInside technology reflects a broader trend in smart hardware development, moving from single-function devices to multi-dimensional companions [7]. - JoyInside has already supported over 40 leading hardware brands, enhancing their products' interactive capabilities and significantly improving user engagement [7]. - The success of AI-driven products, such as the Fuzozo toy, indicates a growing consumer preference for interactive and intelligent companions [7].