智通财经APP获悉，中金发布研报称，被动外资流入激增，创去年10月初以来最大单周净流入。A股流 入13.2亿美元(vs. 上周流入1.0亿美元);港股和ADR流入18.5亿美元(vs. 上周流入4.8亿美元)，以专注中国 与新兴市场的基金流入为主。 配置比例上，截至6月底，全球各类主要类型主动基金对中国配置比例低于基准约1.3ppt，低配程度较5 月底的1.1ppt 继续扩大，其中被动资金配置比例升至7.4%，但主动资金配置比例持平于上月的 6.1%。 中金主要观点如下： 外资方面，EPFR口径下(截至周三)： 主动外资继续流出，流出A股2.0亿美元(vs. 上周流出2.2亿美元);流出港股和ADR 3.2亿美元(vs. 上周流出 3.3亿美元);专注中国市场基金流出最多，全球新兴市场基金继续流出。 被动外资流入激增，创去年10月初以来最大单周净流入。A股流入13.2亿美元(vs. 上周流入1.0亿美元); 港股和ADR流入18.5亿美元(vs. 上周流入4.8亿美元)，以专注中国与新兴市场的基金流入为主。 南向方面，本周南向资金流入323.5亿港元(vs. 上周流入214.6亿港元)，日均流入64.7亿港元 ...

Core Insights - Tencent is shifting its focus from large models to multi-modal and embodied intelligence, showcasing its advancements at the World Artificial Intelligence Conference (WAIC) [1][3] - The company has introduced a comprehensive suite of AI products, termed "AI full stack," aimed at enhancing user interaction and application across various sectors [1][7] Group 1: AI Product Development - Tencent has launched the "Tairos" platform, the first modular embodied intelligence software platform in China, designed for the robotics industry [4][3] - The newly released "Hunyuan 3D World Model 1.0" is fully open-sourced and integrates panoramic visual generation with layered 3D reconstruction technology [5][8] - The company plans to open-source several smaller models, including 0.5B, 1.8B, 4B, and 7B mixed reasoning models, to facilitate easier deployment [10] Group 2: Application and Market Strategy - Tencent's AI applications target both B2B and B2C markets, with over 10 agents developed for various life scenarios, including travel planning [7][12] - The company emphasizes practical AI solutions, aiming to make "usable AI" a universal productivity tool [11] - Tencent's AI capabilities have been integrated into multiple applications, enhancing functionalities such as AI search, AI browsing, and AI content creation [12][13] Group 3: Industry Position and Future Goals - Tencent is positioned as a leading player in multi-modal exploration, leveraging its experience in gaming and social content [10] - The company aims to improve the quality of 3D asset generation and enhance interaction models to meet industry demands in gaming, autonomous driving, and entertainment [9][10] - The strategic collaboration between intelligent agents and industry-specific models is expected to amplify the value of large models and address implementation challenges [13]

Core Insights - Tencent showcased its "AI all-in-one" solutions at the World Artificial Intelligence Conference (WAIC), emphasizing the theme of making "usable AI" a universal productivity tool [1][3] - The company introduced several new technologies, including the latest video call feature of its AI assistant, Yuanbao, which aims to enhance user interaction with lower latency and more human-like communication [1][2] AI Applications and Features - Tencent's mixed Yuan model supports various interaction methods, allowing users to generate high-quality images and 3D models through simple text prompts or drawings, significantly improving content creation efficiency [2][5] - The AI capabilities are integrated into Tencent's social platforms, such as WeChat and QQ, enabling users to access AI assistants for various tasks, including answering questions, creating content, and managing social interactions [3][4] AI Productivity Platforms - Tencent presented five AI productivity platforms aimed at bridging the gap in AI application for enterprises, including intelligent agent development and AI education platforms, which help reduce barriers to AI adoption [5][6] - The company’s solutions, such as the "Magic Digital Human" for marketing, have shown to reduce live streaming costs by up to 90%, demonstrating significant efficiency gains for businesses [6] Embodied Intelligence - Tencent's embodied intelligence platform, Tairos, combines AI and robotics, allowing for natural interaction between humans and robots, enhancing the usability of AI in everyday tasks [7] - The company aims to make AI accessible and beneficial for everyone, collaborating with global partners to explore AI development and governance [7]

Group 1: Food Delivery Industry - Meituan held its 21st merchant meeting in Shanghai, discussing the pressures faced by businesses during the subsidy war, particularly the challenge of restoring original pricing structures post-subsidy [2] - A representative from a leading tea brand mentioned that irrational subsidies in the delivery battle have led to "false prosperity," highlighting the negative impact on high-priced quality merchants and small businesses [2] Group 2: TikTok and ByteDance - TikTok's revenue is projected to reach $23 billion in 2024, marking a 42.8% year-on-year growth and making it the fourth largest social app globally [3] - Despite a slowdown in net profit growth and profit margins for ByteDance, overseas revenue driven by TikTok increased by 63%, accounting for a record 25% of the company's total revenue [3] Group 3: Tencent - Tencent's stock price reached a four-year high at HKD 552 per share, with a year-to-date increase of over 30% [4] - The rise in Tencent's stock coincided with a general increase in the Hang Seng Index, which surpassed 25,000 points [4] Group 4: Amazon - Amazon announced a team reduction in its cloud division, AWS, following a strategic evaluation of its organizational structure and future direction [5] - The CEO indicated that the introduction of more generative AI tools would change the nature of work, potentially leading to a decrease in overall employee numbers [5] Group 5: JD.com - JD.com launched a "Dish Partner" recruitment plan, committing 1 billion yuan to find partners for 1,000 signature dishes, aiming to establish 10,000 Seven Fresh kitchens nationwide within three years [6] Group 6: TCL - TCL Electronics expects a net profit of approximately HKD 950 million to HKD 1.08 billion for the first half of the year, representing a year-on-year growth of about 45% to 65% [14] - The company shipped 13.46 million TVs globally, a 7.6% increase, maintaining its position among the top two in global TV shipments [14] Group 7: Hisense - Hisense laid the foundation for its largest overseas production base in Thailand, with plans to achieve an annual production capacity of 12 million units by 2030 [15] - The first phase of the project involves an investment of 4.7 billion baht to build a factory for refrigerators and washing machines [15] Group 8: Alibaba - Alibaba announced the launch of its first self-developed AI glasses, Quark AI glasses, expected to be released within the year [16] - The glasses will integrate various Alibaba services, positioning them as a significant entry point in the AI era [16] Group 9: Shentianma - Shentianma appointed Wang Lei as the new general manager, following a leadership transition within the company [19] - The company reported a turnaround in profitability for the first half of the year, driven by growth in non-consumer display businesses [19] Group 10: iFlytek - iFlytek launched the X5 smart office notebook, integrating a domestically developed cloud model to enhance efficiency in meetings and document processing [20] - The smart office notebook represents a significant step in applying AI technology to practical scenarios, although the market remains niche [20]

一周IPO动态，覆盖港股、美股、A股。 本文为IPO早知道原创 作者｜C叔 微信公众号｜ipozaozhidao 一亩田 美股｜上市在即 据IPO早知道消息，Yimutian Inc.（一亩田集团，以下简称"一亩田"）于美东时间7月22日向美国证 券交易委员会（SEC）递交红鲱鱼版招股书，预计将于本月月底正式以"YMT"为股票代码在纳斯达 克挂牌上市。 一亩田计划在本次IPO中发行452.2万股美国存托股票（ADS），发行区间为每股ADS4.100美元至 5.00美元，承销商另享有67.83万股ADS的超额配售权。以此发行区间计算，一亩田至多可通过本次 IPO募集2600万美元。 IPO前，一亩田还已获得红杉中国、云锋基金、华创资本、源码资本、DST等国内外知名机构的投 资。 成立于2011年的一亩田从信息服务平台起步，现已成为覆盖农业全产业链的综合性数字农业企业， 累计服务超5600万用户。根据弗若斯特沙利文的报告，按2024年收入和月活跃商家数量计算，一亩 田是中国大陆最大的农业B2B平台。 截至2025年3月31日，一亩田已覆盖中国大陆340多个城市和2,800多个县，占中国大陆一级和二级 农产品批发市 ...

欧美二季度GDP表现如何，特朗普关税谈判"大限"到来。 上周国际市场风云变幻，美国与日本达成贸易协议，欧央行连续降息后选择按兵不动。 市场方面，美股全线走高，道指周涨1.26%，纳指周涨1.02%，标普500指数周涨1.46%。欧洲三大股指 涨跌互现，英国富时100指数周涨1.43%，德国DAX 30指数周跌0.30%，法国CAC 40指数周涨0.15%。 本周看点颇多，美联储将公布利率决定，就业、经济增长和通胀等关键数据将成为影响未来降息的因 素，同时，8月1日，美国总统特朗普所谓的"对等关税"最后期限将来临。除了美国以外，日本、加拿大 等经济体央行也将召开议息会议，欧元区将公布二季度国内生产总值（GDP）数据和通胀数据。财报季 渐入佳境，苹果、微软等明星科技股将亮相。 美联储议息会议召开 前，有关就业市场的更多线索将来自周二的6月JOLTS职位空缺数据、周三的ADP私人就业数据和周四 的每周失业救济申请人数。 特朗普上周宣布与日本达成贸易协议。日美贸易协定或可以作为与欧盟达成协议的模板，特别是15%的 关税税率。据报道，特朗普表示，与欧盟达成协议的可能性是50/50，双方将争取在8月1日的最后期限 前达成 ...

新华财经上海7月26日电（葛佳明） 本周（7月21日-7月26日）国际贸易局势的不确定性逐步下降，全球央行政策则趋于谨慎调整，欧洲央行暂停连续降 息。全球风险偏好回升之际，多数国家股指走高，美元震荡走弱，黄金走强后回落，国内商品走势则随着"反内卷"政策信号持续释放强势上行。 美股方面，标普500指数和纳斯达克指数持续刷新历史高位，其中，标普500指数收报6388.64点，本周累计上涨1.46%；道琼斯工业平均指数报44901.92点， 本周累涨1.26%；纳斯达克指数报21108.32点，本周累涨1.02%；罗素2000指数报2261.07点，本周累涨0.94%。 美股"科技股七巨头"多数上涨，其中，谷歌因第二季度财报营收和净利润超预期，本周累计上涨4.39%，亚马逊全周累涨2.35%，苹果全周累计涨1.28%， Meta全周累涨1.19%，英伟达涨幅达0.63%，微软全周微涨0.72%。特斯拉则因营收和净利润大幅下跌，全周累计下挫4.12%。 欧洲股市方面，欧洲STOXX 600指数全周累计涨0.5%；德国DAX 30指数本周累计下跌0.30%，法国CAC 40指数本周累涨0.15%；英国富时100指数本周 ...

Group 1 - Hubei Yiran E-commerce Co., Ltd. has been established with a registered capital of 2 million RMB, fully owned by Hubei Zhongcheng Bidding Co., Ltd. [1] - The legal representative of Hubei Yiran E-commerce Co., Ltd. is Wu Huizhen [1] - The company operates in various sectors including internet sales, construction machinery rental, and building materials sales [1] Group 2 - The business scope includes internet sales (excluding licensed goods), rental of construction machinery and equipment, and sales of various construction materials [1] - The company is registered in Wuhan, Hubei Province, with a business duration until July 25, 2025, and no fixed term thereafter [1] - The company is classified under the national standard industry of information transmission, software, and information technology services [1]

近日，据新华社报道，美国太空探索技术公司SpaceX旗下的卫星互联网服务"星链"遭遇了一次重大故 障，导致全球范围内约6.1万名用户暂时失去了网络连接。这一事件发生在当地时间7月24日，给依赖该 服务的用户带来了不小的困扰。 SpaceX公司迅速做出回应，表示在故障发生后数小时内已经恢复了服务，并承诺将全面调查故障的根 本原因。据"星链"工程副总裁迈克尔·尼科尔斯透露，此次断网事件持续了大约两个半小时，但目前已 基本全面恢复。 尼科尔斯详细解释了故障的原因，指出是由于"运行核心网络的关键内部软件服务"出现了问题。他对此 次断网给用户带来的不便表示歉意，并强调SpaceX将采取一切必要措施，确保此类事件不再重演。同 时，SpaceX创始人马斯克也在社交媒体上发帖向用户致歉，并表示公司将采取根本性措施来预防未来 类似事件的发生。 马斯克在帖子中写道："服务将很快恢复，对于此次中断我们深感抱歉。SpaceX将全力以赴，确保此类 事件不再发生。"这一表态显示了SpaceX对用户需求的重视和对服务质量的承诺。 "星链"系统是由SpaceX公司研发和运营的，它通过大量低轨道卫星提供高速互联网连接服务。自2019年 5月首 ...

【环球网财经综合报道】7月25日，南向资金合计净买入达201.84亿港元。放眼到今年以来，南向资金火力全开， 合计净买入8200.28亿港元，这一数据不仅超过去年全年的8079亿港元，还超过2022年至2023年南向资金净买入额 的总和。 值得关注的是，这已是南向资金连续第25个月净买入港股。国泰海通分析指出，南向资金仍有增配空间，全年南 向资金净流入额有望突破万亿港元。而从近一个月的配置方向来看，南向资金重点聚焦互联网龙头、医药、银 行、保险等公司。 此外，南向资金的持续流入对港股估值产生积极影响。恒生沪深港通AH股溢价指数在7月25日跌至123.4点，创下 2020年6月以来新低，今年以来该指数累计下跌超13%。兴证策略研究报告认为，港股与A股的流动性一直存在较 大差距，这是不少港股公司相较A股公司存在折价的重要原因。今年以来，随着各类资金进入港股市场，港股流 动性显著改善，港股与A股流动性差距迎来趋势性收窄。（南木） 今年以来，恒生指数累计上涨26.56%，领涨全球主要股指。中金公司认为，港股市场的持续活跃以及行业轮动的 高度结构化，与充裕的流动性紧密相关。而影响港股资金面的诸多因素中，除香港金管局5至 ...