长城证券发布研报称，哔哩哔哩AI带动内容产量提升驱动平台用户数持续创新高，差异化流量基本盘 稳健；公司AI技术提升营销素材制作效率以及广告投放效果，平台AI视频的素材消耗占到60%以上，广 告智能投放消耗超过45%，分发效率整体效率提升了10%以上。此外，《三国：谋定天下》维持稳健表 现，关注公司新游进展。 智通财经APP获悉，哔哩哔哩-W(09626)尾盘涨近7%，截至发稿，涨6.62%，报238.2港元，成交额11.48 亿港元。 富瑞发布研报称，对于哔哩哔哩2025年第四季业绩预览，预期季内营收及非通用会计准则营业利润符合 该行预测，总营收年增约5%不变，达81亿元人民币，该行指，游戏方面，《逃离鸭科夫》取得成功， 游戏策略聚焦于垂直品类的领先地位、产品长线营运及年轻世代。根据该行的2026年展望报告，预测 AI将成为重点领域，而娱乐产业因其防御性质受到青睐。 ...

1月12日，港股午间收盘，恒生指数涨0.86%，恒生科技指数涨2.08%。科网股走强，快手、阿里巴巴涨 超5%，百度集团涨超4%，京东集团、腾讯控股涨超2%。 1月12日，港股午间收盘，恒生指数涨0.86%，恒生科技指数涨2.08%。科网股走强，快手、阿里巴巴涨 超5%，百度集团涨超4%，京东集团、腾讯控股涨超2%。 ...

港股市场汇聚了一批A股稀缺的科技巨头，既有具备算力资源、模型能力与应用场景协同优势的平台型互联网公司；又有具备模型或应用能力的AI生态企 业。 公开资料显示，港股互联网ETF（513770）及其联接基金（A类017125；C类017126）被动跟踪中证港股通互联网指数，权重股汇聚阿里巴巴-W、腾讯控 股、小米集团-W、快手-W、哔哩哔哩-W等港股AI巨头，前十大权重股占比超78%，龙头优势显著。 | 十大权庫 | | | | 更新日期: 2026-01-06 | | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 中证一级行业分类 | 中证二级行业分类 | 权重(%) | | 0700.HK | 腾讯控股 | 通信服务 | 侍媒 | 15.42 | | 9988.HK | 阿里巴巴-W | 可选消费 | 零售业 | 14.50 | | 1810.HK | 小米集团-W | 信息技术 | 电子 | 13.11 | | 3690.HK | 美國-W | 可选消费 | 消费者服务 | 12.03 | | 1024.HK | 快手-W | 通信服务 | 傅૬ | 4.24 ...

Group 1 - The core concept of GEO (Generative Engine Optimization) has gained significant attention, with nearly 20 stocks in the A-share market hitting the daily limit, including Yidian Tianxia, BlueFocus, and Zhongwen Online, while Hong Kong stocks like Alibaba-W, Kuaishou-W, and Baidu-SW also saw over 5% increases [1] - The Media ETF, which tracks the CSI Cultural Media Index, has a high overlap with GEO concept stocks, including companies involved in video, live streaming, gaming, and digital marketing, indicating a direct correlation with the GEO theme [2] - Analysts from multiple institutions, including China Galaxy Securities, predict that 2026 will be a significant year for AI applications, as the investment logic in the AI industry shifts from "computing power competition" to "application value" [1] Group 2 - The Heng Seng Internet ETF, listed on the Shanghai Stock Exchange, tracks the Heng Seng Internet Technology Index and includes leading internet application companies, suggesting that Hong Kong internet giants will gradually reveal their advantages in AI applications [2] - The shift in AI investment focus from large models and computing power to software applications is expected to accelerate the growth of AI applications, as noted by analysts [1] - The Media ETF has seen a price increase of over 8%, while the Heng Seng Internet ETF rose nearly 3%, reflecting positive market sentiment towards GEO-related investments [1][2]

| 分制 修日 · | F9 盘前盘后 酷加 九机 面线 工具 (2 )> | | | 11 57 1 +0.029 +5.36% | | | 港股互联网ETFO | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 513770CRIO GILLERS 0.571 | | | | | | | | 513770 | | | | M. Nº M | | SSE CNY | 14:24:28 交易中 查看L2全国 | | | | 1+0.00 / | | | 0.561 - Charles of The Pro- | | | 净值难费 | 本属中空酒的演豆联网ETF | | 近5日净波入 | | | 单位(万元) | | | | 1,85% | 蛋糕 | 30.57% 变胶 | 318941 | | | | | | | | | 藏五 | 0.574 | 28305 | | | | | | 0.541 | | 0.00% | 交叉 | 0.574 | 29894 | | | | | | | | | 200 | 0.572 | 66 ...

港股科网股午后持续走强，快手(01024.HK)涨近7%，美团(03690.HK)涨超6%，百度(09888.HK)、阿里 巴巴(09988.HK)涨超5%，网易-S(09999.HK)、腾讯控股(00700.HK)等跟涨。 本文源自：金融界AI电报 ...

Core Viewpoint - The Hong Kong Internet ETF (513720) surged by 4% on January 12, driven by three key factors that are expected to lead to a rebound in Hong Kong stocks in 2026 [1] Group 1: Factors Driving Market Rebound - A weaker US dollar is attracting international capital to increase allocations in Hong Kong [1] - The appreciation of the Renminbi is encouraging the repatriation of Chinese capital that has been held overseas [1] - A recovery in inflation and potential debt restructuring policies are expected to improve the fundamental outlook [1] Group 2: Sector Analysis - The Hang Seng Technology Index is anticipated to experience high odds of recovery due to stagnation in 2025, potentially benefiting from a "Davis Triple Play" in 2026, which includes valuation recovery, profit improvement, and liquidity support [1] - The Hong Kong technology sector, particularly those with high AI application ratios, is expected to benefit from the accelerated commercialization of AI in the medium to long term, with market elasticity likely to surpass that of computing infrastructure [1] - Current valuations of Hong Kong technology stocks are lower than those of A-shares, suggesting an upward potential under the mean reversion logic [1] Group 3: ETF and Index Overview - The Hong Kong Internet ETF (513720) tracks the Hong Kong Stock Connect Internet Index (931637), which selects 30 publicly listed companies involved in internet-related businesses from the Stock Connect range [1] - The index focuses on key sectors such as media and retail, with a balanced allocation across large, medium, and small-cap stocks [1] - It reflects the overall performance of the consumer internet sector, including core application scenarios such as social media, e-commerce, and gaming [1]

此前，香港交易所正式推出香港交易所科技100指数，并宣布已与易方达基金签订授权协议。 以上仅为对港交所科技100指数过往表现的客观展示，不代表指数及相关基金未来表现，不作为任何投 资收益保证或投资建议。指数编制方案后续可能进行调整。基金有风险，投资须谨慎。 截至2026年1月5日12:00，香港交易所科技100指数(HKEXT100)上涨2.05%，前十大权重股多数飘红，美 团-W涨7.31%，快手-W涨5.62%，阿里巴巴-W涨5.32%，腾讯控股涨2.29%，百济神州涨1.37%，小米集 团-W涨0.58%，药明生物涨0.54%，比亚迪股份涨0.48%，中芯国际跌0.07%，信达生物跌1.12%。 【风险提示】 该指数跟踪100家在香港交易所上市的市值最大的科技公司的表现，涵盖人工智能、生物科技及制药、 电动车及智能驾驶、资讯科技、互联网、机器人六大创新主题，突显了香港市场在推动新兴产业发展方 面的关键角色，同时指数成份股均符合南向交易资格，为投资者提供了有效且全面的投资工具，助力其 把握科技和新兴领域投资机遇。 ...

新股方面，全球图像传感器供应商豪威集团今日在港交所主板挂牌上市，成为今年首家"A+H"上市企 业，午间收盘股价上涨超过15%。根据其招股书，公司本次全球发售共计4580万股H股，最终发行价为 每股104.80港元。 市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：观察君 截至1月12日午间收盘，香港股市主要指数上涨。恒生指数报26456.75点，涨幅为0.86%；恒生科技指数 报5805.57点，上涨2.08%。国企指数上涨1.08%，红筹指数微跌0.1%。 盘面上，科技股普遍上扬，成为市场主要支撑力量。美团股价上涨超过7%，阿里巴巴涨幅超过5%，快 手、哔哩哔哩涨幅均超5%，百度集团上涨超过4%，京东集团、腾讯控股涨幅均超过2%。人工智能应用 概念板块表现尤为活跃，智谱与MINIMAX两家大模型公司股价领涨，涨幅分别超过30%和31%。此 外，重型机械、半导体、手游及苹果概念等板块也表现积极。另一方面，内房股、保险股以及脑机接口 概念股走势相对疲弱。 ...

Core Insights - The latest "Top 500 Listed Companies in China" list for 2025 showcases leading enterprises in finance, energy, technology, consumption, and intelligent manufacturing, with major players like Tencent and ICBC demonstrating their industry leadership through trillion-level market capitalizations [1][10] - The presence of companies like Industrial Fulian, SMIC, and Cambricon in the rankings reflects the deep structural transformation of China's economy, indicating these firms are both stabilizers and pioneers in industrial upgrades [1][10] Group 1: Market Capitalization Rankings - The companies ranked from 21 to 30 include Sinopec (700.7 billion), Zhongji Xuchuang (677.8 billion), Yangtze Power (665.3 billion), Postal Savings Bank (641.7 billion), SMIC (632.9 billion), NetEase (614.0 billion), Midea Group (592.9 billion), Bank of Communications (590.8 billion), Cambricon (571.6 billion), and Meituan (570.2 billion) [3][10] Group 2: Economic Structural Transformation - The success of these companies is attributed to multiple factors, including industry scarcity, technological barriers, and stable business models, which create competitive advantages [4][11] - Companies like Zhongji Xuchuang and SMIC exemplify the dual drivers of technological innovation and market opportunities, with Zhongji Xuchuang capitalizing on the AI infrastructure wave [4][11] Group 3: Challenges and Opportunities - Companies face the challenge of transitioning from scale advantages to quality advantages, with risks related to technological iteration and high valuation sustainability [6][12] - The need for technological independence and improved profitability models is highlighted, particularly for firms like Zhongji Xuchuang and Cambricon, which must navigate rapid technological changes [6][12] Group 4: Future Trends - Future market leaders are expected to emerge from sectors such as high-end manufacturing, green energy, and innovative pharmaceuticals, with a focus on hard technology like semiconductors and AI [8][9] - The anticipated market structure will feature a three-tier system, with traditional giants at the base, tech newcomers leading, and niche champions filling in [8][9] Group 5: Investment Opportunities - The average market capitalization of the top 500 companies reached 185.6 billion, reflecting a significant increase, particularly in information technology, finance, and consumer discretionary sectors [23] - Companies are expected to enhance their value and market capitalization through innovation, digital transformation, and sustainable practices, aligning with national policies and market demands [21][24]