美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：山上 12月15日，YouTube近日宣布一项重大支付政策更新，允许美国地区内容创作者选择以PayPal发行的美 元稳定币PYUSD收取收益。此举被业界解读为科技巨头从观望转向实际拥抱加密货币支付的里程碑事 件，可能预示着稳定币支付迈向主流应用的关键转折点。 此次合作最引人注目的特点在其谨慎的架构设计，PayPal加密业务负责人May Zabaneh透露，YouTube采 用的是"干净分层"模式，平台仅向长期合作伙伴PayPal发出传统美元支付指令，而PayPal在后端负责将 美元转换为等值PYUSD稳定币，再分发至创作者的数字钱包。这种设计让YouTube完全无需直接接触或 持有加密货币资产，将结算、托管与合规风险全数外包给专业金融科技公司。 ...

YouTube has reportedly begun letting creators on its platform get paid in PayPal’s stablecoin. By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.So far, this feature only applies to U.S. users, May Zabaneh, PayPal’s ...

PayPal plans to integrate its stablecoin PYUSD with more than 20 million merchants by 2025. Photo by BeInCrypto YouTube now allows US content creators to receive payments in PayPal's PYUSD stablecoin. This marks a major step forward for crypto adoption on a leading video platform. This partnership between the Google-owned platform and PayPal highlights growing institutional faith in stablecoin technology for routine transactions. YouTube Adds PYUSD to Creator Payment Options Creators in the United Stat ...

此前曝光于网络的信息截图。 今天（12月11日），一则B站致用户的信息截图引发热议。截图显示，"为持续夯实社区生态根基，保 障优质内容创作的可持续性，自2026年3月1日起，哔哩哔哩平台所有视频类资源均需购买B站视频会员 方可完整观看，基础弹幕功能同步绑定会员权益开放。" 随后，B站站内方面向南都N视频记者确认，该消息系谣言，对于造谣者公司将追究法律责任，目前公 司已报警。 ...

对此，B站客服回应称："该说法为不实消息，对于任何未经证实的网络谣言，请大家理性看待，切勿 轻信和传播。" 数据显示，2025年第三季度B站总营收为76.9亿元人民币，同比增长5%。调整后净利润为7.9亿元，同比 大幅增长233%。本季度，增值服务业务收入达30.2亿，同比增长7%。会员收入方面，截至三季度末， 大会员人数达2540万人，其中约80%为年度订阅或自动续费用户。 凤凰网科技讯 12月11日，话题"B站"冲上微博热搜第一，引来众多网友围观热议。 据了解，事情起因是一张关于B站（哔哩哔哩）致用户的截图在网络流传。截图内容称，"自2026年3月 1日起，哔哩哔哩平台所有视频类资源均需购买B站视频会员方可完整观看，基础弹幕功能同步绑定会 员权益开放。" ...

| 表格序號 | 大股東/董事/最高行政人員名稱 作出披露的 買入 / 費出或涉及的股 每股的平均價 | | | | 基有模型的股份助出 | 佔已發行的 有關車 | | --- | --- | --- | --- | --- | --- | --- | | | 一周第 | | | | (語参國上述*註解) | 有投票權股 (日 / F | | | | | | | | 分自分成 | | | | | | | | 96 | | CS20251209E00322 | JPMorgan Chase & Co. | 1101(L) | 737.139(L | HKD 202.2662 | 54,991,982(L | 16.16(L)04/12/. | | | | | | | 33,728,153(S) | 9.91(S) | | | | | | | 17,030,479(P) | 5.00(P) | 格隆汇12月11日丨根据联交所最新权益披露资料显示，2025年12月4日，哔哩哔哩-W(09626.HK)获JPMorgan Chase & Co.以每股均价202.2662港元增持好仓 73.71万股，涉资约1.49亿港 ...

Core Insights - The article emphasizes the focus on value investing in Asia, particularly in Hong Kong, targeting stocks with significant discrepancies between market price and intrinsic value [1] - It highlights two main categories of investment opportunities: deep value balance sheet bargains and wide moat stocks, which are characterized by their strong competitive advantages [1] Group 1: Investment Strategy - The research service aims to identify deep value balance sheet bargains, such as net cash stocks and low price-to-book (P/B) ratio stocks, which are available at a discount [1] - It also seeks wide moat stocks, which are high-quality businesses with strong earnings power that can be acquired at a discount [1] - The service provides monthly updates and watch lists to assist investors in tracking potential investment opportunities [1] Group 2: Market Focus - The primary focus is on the Asian equity market, with a particular emphasis on Hong Kong-listed stocks [1] - The service is designed for value investors looking for unique investment opportunities in the region [1]

Core Insights - The short drama market remains one of the few growth areas amid the peak of internet traffic dividends, with ByteDance's "Tomato Series" projected to exceed 30 billion to 50 billion yuan in profit by 2024, and revenue expected to double to 60 billion yuan by 2025 [1] Group 1: Industry Dynamics - The short drama business is evolving into a scalable content industry, with the Hongguo platform aiming to cover the entire IP, production, distribution, and monetization chain [2] - As of October 2025, the revenue from IP adaptations for micro short dramas on the Tomato platform has increased by 800% year-on-year, with over 6,000 works entering the adaptation process [2] - The rapid production cycle of short dramas, exemplified by the adaptation of "True Rich Girl is a Scholar" taking only 64 days, highlights the efficiency of the data-driven approach [2] Group 2: Creator Ecosystem - The Hongguo short drama platform has opened up for independent screenwriters and has implemented a revenue-sharing mechanism that ties earnings more closely to actual viewership [3][4] - As of October 2024, the total revenue share for scripts on the Hongguo platform has exceeded 70 million yuan per month, transitioning the industry from a traditional employment model to a partnership model [4] - This new model is particularly attractive to actors and screenwriters, allowing them to become co-creators and link their earnings to the performance of their works [5] Group 3: Competitive Landscape - Traditional long-video platforms are also entering the short drama space, creating a competitive environment, with platforms like iQIYI, Tencent Video, and Youku launching their own short drama initiatives [7] - The focus of competition is shifting from producing hit dramas to making hits a regular occurrence, with Hongguo positioned as a central player in this evolving landscape [7]

Core Insights - The article highlights the rise of "Chicken Chop Brother" on Douyin, achieving nearly 5 billion views in just two months, showcasing the platform's potential for small businesses to gain visibility and attract customers [1][3] - Douyin is expanding its ambitions with the launch of the "Fireworks List," featuring 360 small eateries across ten cities, aimed at promoting local dining experiences and enhancing online visibility for these businesses [5][6][8] Douyin's Strategy - Douyin's "Fireworks List" categorizes eateries based on local characteristics, age, and specialty dishes, emphasizing the importance of local independent businesses [6][8] - The list serves as a model for small shops to increase visibility and connect with consumers, addressing the low online presence and evaluation challenges faced by individual eateries [10][11] User Engagement and Data Utilization - The selection process for the "Fireworks List" involves user-generated content and real evaluations, transforming word-of-mouth into measurable data [17][18] - Douyin's content ecosystem has led to over 1.3 billion videos related to small eateries, generating significant engagement and providing a platform for local businesses to thrive [18][25] Quality Assurance Mechanisms - The list incorporates a user nomination phase, allowing food enthusiasts to recommend hidden gems, thus increasing the visibility of lesser-known eateries [20] - A final quality check is conducted by 248 "local taste seekers," ensuring that only the best establishments are featured based on comprehensive evaluations [21][23] Economic Impact on Small Businesses - The "Fireworks List" is part of Douyin's broader strategy to support small businesses, with a reported 66% growth in new small shop registrations and a 34% increase in transaction volume [23][24] - Douyin's content-driven approach allows small businesses to avoid price wars and instead focus on unique offerings, enhancing their market presence [24][32] Community and Cultural Relevance - The initiative reflects a growing trend in the restaurant industry, where local eateries contribute significantly to overall dining consumption, yet often struggle with online visibility [10][11] - Douyin's efforts to promote local dining culture through the "Fireworks List" and related events illustrate the platform's role in reshaping how small businesses connect with consumers [34]

Core Insights - ByteDance's Tomato series business is projected to generate over 30 billion to 50 billion yuan in profit and exceed 300 billion yuan in revenue for 2024, with Tomato Novel being the primary revenue contributor [1] - The overall revenue for the Tomato series is expected to surpass 600 billion yuan this year, with Tomato Novel contributing over 450 billion yuan and Hongguo Short Drama over 150 billion yuan [1] Revenue and Profitability - The revenue and profit figures for ByteDance's Tomato series are significantly higher than Tencent's Reading Group, which reported total revenue of 8.12 billion yuan and profit of 1.14 billion yuan for 2024 [3] - Tomato series' profitability is currently low due to ongoing support for the Hongguo Short Drama business, which has rapidly increased its daily active users (DAU) to nearly 100 million [3][6] User Growth and Engagement - Tomato Novel's DAU has exceeded 100 million, surpassing internal expectations, while Hongguo Short Drama is also approaching similar user engagement levels [3][4] - Hongguo Short Drama's MAU reached 236 million in September, marking a 94% year-on-year growth, significantly outpacing competitors [3] Business Strategy - ByteDance's approach to launching new businesses involves assessing market size and profitability, with Tomato series products fitting these criteria well [3] - The company employs aggressive user acquisition strategies, including high spending on user acquisition and resource allocation to ensure rapid growth [5][6] Content and Monetization - The Tomato Novel platform has signed over 600,000 authors, with 85% of content being original, and has successfully promoted popular works [6] - The platform has diversified its offerings to include audiobooks, short dramas, and other content types, enhancing user engagement and monetization opportunities [7] Future Growth Potential - The short drama industry is expected to see new growth driven by AI-enhanced content, with the market projected to exceed 20 billion yuan by 2025 [7] - Hongguo Short Drama has introduced revenue-sharing policies for actors, indicating a focus on creator incentives and further resource allocation to enhance content production [7]