每经AI快讯，11月24日，三六零盘中涨停，涨幅9.99%，成交额超46亿元。 （文章来源：每日经济新闻） ...

Core Insights - Ant Group's CTO He Zhengyu shared insights on the release timing of the Qianwen App and Lingguang App, indicating that the release date for Lingguang App was determined independently by the app itself [2] - Lingguang App has achieved over 500,000 downloads within two days of its launch on November 18, ranking 12th on the App Store overall [3] - Jack Ma expressed a strong desire for Lingguang App to reach the top position, which has set high expectations for the app's performance [3] - The initial download target for the app was set at 200,000 by the team, but this was deemed too low by Jack Ma, who noted that the app had already surpassed this goal [3]

央广网北京11月18日消息（总台中国之声记者管昕）据中央广播电视总台中国之声《新闻纵横》报道，近日，有多名消费者反映称，自己数月前在一社 交平台"拼团呀"小程序上购买拍立得相纸，等了很多天不见发货，联系发起拼团的"团长"也没有任何回复。今年下半年，多家打着"低价拍立得相纸/相机"旗 号的拼团暴雷，部分参团消费者统计出的受骗金额高达百万元。 实际上，这一消费模式并不复杂，主要是"团长"以低于市场价的方式组团，吸引消费者购买。而消费者要么收到的货物远低于实际价值，要么干脆收不 到货，消费者想要维权却发现困难重重。所谓"拼团"的消费模式从法律角度如何认定？又该如何监管？ 公开资料显示，杭州可火网络科技有限公司成立于2019年，注册资本100万，法定代表人为司某某。据企查查披露的公开信息，记者查询到该公司的工 商注册登记电话，但拨打过去始终无人接听，发去短信也无人回复。 今年6月，刘女士在"拼团呀"小程序以拼团的方式花费985元购买了一台拍立得相机，却到现在都没有收到货，也联系不到发起拼团的"团长"。 刘女士表示："商品比其他平台便宜了大概三四百块钱，还需要等，我想着也不着急用，等一下还可以省一点钱，结果没想到他居然 ...

Core Viewpoint - Oriental Securities believes that Meitu's (01357) AI features and creative gameplay are frequently iterating, enhancing its global aesthetic appeal, and that the company will continue to benefit from improvements in foundational technology and AI gameplay development efficiency. The firm maintains a "Buy" rating with a target price of HKD 13.33, highlighting the unique value and growth prospects of Meitu's vertical applications [1]. Group 1: Lifestyle Scene - AI features are frequently updated, with global performance proving strong, and the sustainability of aesthetic and creative output is validated. As of October 2025, Meitu Xiuxiu has launched 51 new features, nearing the 55 new features launched in 2024, with AI features (excluding collage and cropping) accounting for nearly 96% (up from 78% in 2024) [2]. - The company's sensitivity to common trends and refined local operations strategies have increased the probability of new features gaining global traction. For instance, in October, the "AI Group Photo" feature topped the iOS download charts in 14 European countries and 30 country category charts, while in November, the "AI Snow Scene" feature topped the overall app store charts in 29 countries and regions, including Germany, Turkey, and South Korea [2]. Group 2: Productivity Scene - Attention is focused on the progress of Meitu Design Studio's collaboration with Alibaba. The Meitu Design Studio has integrated with Alibaba's business management platform, providing "AI Product Image" services for Taobao and Tmall merchants. This collaboration is expected to enhance Meitu's product capabilities by leveraging its traditional image strengths and gaining insights from the e-commerce sector [3]. Group 3: Investment Recommendations - The firm projects adjusted net profits for Meitu to be CNY 9.43 billion, CNY 12.34 billion, and CNY 15.93 billion for the years 2025 to 2027. Using a PE valuation approach, the average valuation level of comparable companies suggests a 45x PE for Meitu in 2026, corresponding to a market value of CNY 55.5 billion. At an exchange rate of 0.911 HKD/CNY, this translates to HKD 60.9 billion, leading to a target price of HKD 13.33 per share, with a "Buy" rating maintained [4].

（责任编辑：康博） 中国经济网北京11月17日讯 三六零(SH:601360)今日股价涨停，截至收盘报13.52元，涨幅10.01%， 总市值946.34亿元。 ...

Group 1 - A-shares experienced fluctuations with the Shenzhen Component Index turning positive before retreating again, with a half-day trading volume of 1.27 trillion, an increase of 32.9 billion compared to the previous trading day [1] - Over 2900 stocks in the market declined, indicating a broad market downturn despite some sector performances [1] Group 2 - The Fujian sector saw a resurgence, with stocks like Xiamen Construction and Pingtan Development hitting the daily limit, alongside a strong performance in AI application concepts with multiple stocks such as 360 also reaching the limit [5] - The military industry sector continued its strong performance, with Aerospace Development achieving two consecutive limit-ups, while the lithium mining concept remained active with Dazhong Mining hitting three consecutive limit-ups [5] - In contrast, the pharmaceutical sector showed divergence, with stocks like Jimin Health and Yaoyigou experiencing declines, while sectors such as energy metals, military equipment, and AI applications led in gains, and precious metals and pharmaceuticals faced the largest declines [5] - At market close, the Shanghai Composite Index fell by 0.43%, the Shenzhen Component Index decreased by 0.35%, and the ChiNext Index dropped by 0.8% [5]

Core Viewpoint - Morgan Stanley's latest report indicates that Meitu's overseas revenue growth is accelerating, reaffirming a "buy" rating with a target price of HKD 15.7 [1] Group 1: Revenue Growth - According to SensorTower data, Meitu's overseas revenue year-on-year growth rate increased from 28% in September to 39% in October [1] - The report anticipates that the overseas market will gradually become Meitu's primary revenue source, supporting the company's long-term growth [1] Group 2: Market Expansion - Meitu's global expansion began in 2013, capitalizing on the rapid rise of mobile internet and smartphone penetration, as well as the growing demand for image recording and beautification [1] - The company has achieved significant user and technological experience domestically, recognizing the vast potential of overseas markets [1] Group 3: User Engagement - As of June 30, 2025, Meitu's global monthly active users reached 280 million, a year-on-year increase of 8.5%, with 98 million users outside mainland China, reflecting a 15.3% growth [2] - The introduction of the AI Agent product RoboNeo has led to significant rankings, achieving first place in the Chinese and Spanish App Store category charts and the Vietnamese Google Play category chart [2] Group 4: Product Innovation - Meitu's products have been iterated rapidly, adapting to local demands and cultural nuances, resulting in "phenomenal" applications [2] - The AI features, such as "AI dressing" in Thailand, have driven the beauty camera to the top of app store rankings in 12 countries, including Thailand, Vietnam, Japan, Singapore, and Malaysia [2]

Core Points - The Ministry of Industry and Information Technology of China has reported 39 apps and SDKs that violate user rights, requiring them to rectify their issues [1] - Specific companies mentioned include Beijing Zhangqu Technology Co., Ltd., Zhongyou Network Technology Co., Ltd., and Tianjin Hero Entertainment Network Technology Co., Ltd., all of which have been found to collect personal information beyond the permitted scope [1][2][3] Company Summaries - **Beijing Zhangqu Technology Co., Ltd.**: - Developed the Zhangqu Online Game SDK (version 4.4.7) - Issues include illegal collection of personal information, excessive permission requests, and inadequate SDK information disclosure [1][2] - Founded in 2004, registered capital of 270,761.1003 million RMB, paid-in capital of 246,769.4848 million RMB [3] - **Zhongyou Network Technology Co., Ltd.**: - Developed the CMGE Android SDK (version 1.3.37) - Found to collect personal information beyond the permitted scope [1][2] - Established in 2015, registered and paid-in capital of 10 million RMB [3] - **Tianjin Hero Entertainment Network Technology Co., Ltd.**: - Developed the HeroU SDK (version 5.0.0.11) - Issues include excessive collection of personal information and inadequate SDK information disclosure [1][3] - Founded in 2015, registered capital of 11,100 million RMB [4]

Core Insights - Meitu has launched the "Digital Communication Project for Chinese Traditional Culture," aiming to enhance young people's recognition and participation in traditional culture through digital technology [1] - The project has achieved over 2 billion transmissions and created more than 100 sets of "Guochao" (national trend) patterns [1] - The "Meitu Guochao Pattern Plan" revitalizes traditional patterns, infusing new vitality into Guochao culture among the younger generation [1] Summary by Categories - **Project Overview** - Meitu's initiative focuses on transforming traditional patterns into creative materials such as filters and stickers using digital technology [1] - **Impact and Reach** - The project has reached over 2 billion transmissions, indicating significant engagement and interest [1] - More than 100 sets of Guochao pattern materials have been developed, showcasing the breadth of the project [1] - **Cultural Significance** - The initiative aims to foster a sense of identity and participation in traditional culture among young people, thereby revitalizing Guochao culture [1]

Core Insights - The new version of the HarmonyOS QQ Browser features a significant update with a focus on "minimalist visuals" and "efficient aggregation" to enhance user experience [1][11] Design and User Experience - The homepage adopts a gradient color background design, significantly reducing redundant information to help users focus on search and content [3] - The integration of the search box with core function entries into a "one-box direct access" mode allows users to perform various operations efficiently by simply entering keywords [3] Functionality and Accessibility - The new homepage layout has been restructured to provide fixed entry points for frequently used functions, allowing quick access to files, novels, history, downloads, and favorites without switching pages [6] - Users can manage and customize their frequently used webpage shortcuts, enabling a personalized homepage experience [8] Service Enhancement - The QQ Browser has strengthened its service capabilities by introducing a free novel section with a vast library covering various genres, and a file tool that supports multi-format file preview, editing, and management [9] - Since its launch on HarmonyOS, the QQ Browser team has focused on user needs, aiming to create a comprehensive service that goes beyond browsing [11]