Core Insights - DeepSeek has updated its official GitHub repository with a series of FlashMLA code, drawing attention to a model named "Model 1" [1][2] - Model 1 is speculated to be the new model code that DeepSeek is expected to release around the Chinese New Year [2] Model Specifications - Model 1 is one of the two main model architectures supported in DeepSeek FlashMLA, alongside DeepSeek-V3.2 [2] - It is likely to be an efficient inference model with lower memory usage compared to V3.2, making it suitable for edge devices or cost-sensitive scenarios [2] - Model 1 may also function as a long-sequence expert optimized for sequences longer than 16K, making it ideal for tasks such as document understanding and code analysis [2]

Group 1: Market Overview - The Hang Seng Index closed down by 200 points or 0.76%, ending at 26,344 points, with a significant drop of over 300 points at one point during the trading session [3] - The total market turnover decreased by nearly 23% to HKD 290.54 billion, indicating reduced trading activity [3] - The decline in blue-chip stocks was notable, with 71 out of 88 stocks falling, including CITIC Limited down 4.7% and Anta Sports down 2.2% [4] Group 2: Economic Indicators - Hong Kong's inflation rate rose to 1.1% in August, slightly higher than the 1% increase in July, with transportation prices increasing by 2.5% and housing costs by 1.7% [7] - The overall consumer price index showed a mixed performance, with durable goods and clothing prices declining by 3.1% and 2.8% respectively [7] Group 3: Corporate News - China Rare Earth Holdings announced a placement of 75 million shares to Zijin Mining at a price of HKD 3.13, raising approximately HKD 235 million for its Australian gold mining project [12] - Cloudwise Technology signed a memorandum of understanding with UBTECH for potential strategic cooperation in humanoid robotics, focusing on technology and market resource sharing [13] - Meituan launched a new efficient reasoning model, LongCat-Flash-Thinking, which achieves state-of-the-art performance in various reasoning tasks [14]

Core Insights - Meituan has launched an efficient reasoning model called LongCat-Flash-Thinking, which demonstrates enhanced agent tool invocation capabilities while maintaining a 90% accuracy rate [2] - The model saves 64.5% of tokens compared to scenarios without tool invocation, based on AIME25 empirical data [2] - LongCat-Flash-Thinking is fully open-sourced on platforms like HuggingFace and GitHub, and is available for experience on the official website [2]