（文章来源：每日经济新闻） 此外，互联网大厂自去年开始就在加大回购力度，今年依旧如此，2025年以来京东集团已经累计回购价 值108亿元人民币的股份；腾讯集团也不甘示弱，今年已回购171亿港元的股份。总之，目前来看，部分 互联网大厂向市场交出了一份"满意的答卷"，延续了2024年以来的业绩上升趋势。 近期，中美关税靴子落地，无论国内还是国外的投资者，都对资本市场的风险偏好有了提升，甚至已经 有部分博弈市场上升的资金开始涌入，再加上近期互联网部分大厂业绩超预期，往后看，港股互联网板 块投资价值仍值得关注。 恒生互联网ETF（513330）支持T+0交易，标的指数聚集互联网平台经济，涵盖了阿里巴巴、京东、腾 讯、美团、快手、百度等大型互联网公司，AI含量达97%，DeepSeek含量达86%，是投资者布局AI+互 联网核心资产的好工具。（联接A类：013171；联接C类：013172） 京东一季度实现总营收3011亿元，同比增长15.8%，创近三年新高，归属公司普通股东净利润为109亿 元，同比增长52.7%。腾讯一季度营收1800亿元，超出市场预期的1756亿元，增值服务、影响服务业务 条线均实现了两位数的同比 ...

Core Insights - The 11th New Knowledge Youth Conference, organized by Zhihu, has commenced, highlighting the significant increase in AI professionals among the annual new knowledge contributors [2] - The annual new knowledge contributors are recognized for their expertise, community influence, and user popularity, with 100 contributors selected across 25 fields [2] Group 1 - The representation of AI industry professionals has notably increased, providing valuable insights into AI entrepreneurship and innovation [2] - Contributors from major national institutions, such as China Aerospace Science and Technology Corporation and China National Nuclear Corporation, continue to share significant research achievements [2] - Long-term contributors like Qian Cheng and Cecilia have established themselves as authoritative sources for life knowledge [2] Group 2 - AI chip entrepreneur Ji Yu Mackler has analyzed the competitive logic of the AI hardware ecosystem, gaining support from technical professionals [3] - Researcher Su Jianlin utilizes a dual perspective of mathematics and physics to explore technical topics, seeking ultimate beauty in symmetry and conservation [3] - The Zhihu platform has become a favored space for AI professionals to share their experiences in large model development, fostering a vibrant exchange of ideas [3] Group 3 - Zhihu's founder and CEO, Zhou Yuan, emphasized that the new knowledge contributors represent a valuable asset and a rare force in today's culture, promoting sincere expression and rational thinking [3] - The concept of "annual new knowledge contributor" embodies a culture that encourages sharing and believes in the impact of ordinary individuals through their expertise [3]

Core Viewpoint - The article discusses the declining effectiveness and relevance of WeChat's public accounts, highlighting issues faced by creators and the platform's operational challenges [1][2][3]. Summary by Sections Creator Challenges - Creators are experiencing a significant drop in article open rates, from approximately 8% in 2016 to around 1% currently, leading to low readership for even large accounts [2]. - The strict content review process has resulted in delays and arbitrary deletions of articles, discouraging quality writing and pushing creators to resort to algorithm-friendly content [2]. Platform Dynamics - The public account ecosystem is becoming increasingly homogenized, with concerns that it may devolve into a low-quality information platform if reforms are not implemented [3]. - Tencent's slow reform of the public account mechanism may stem from the lack of direct commercial value it provides to the company, leading to its marginalization [4]. Value of Public Accounts - Public accounts are viewed as a vital social asset for Tencent, serving as a credible information source and a significant platform for quality content creation [5][6][7]. - The presence of public accounts enhances Tencent's brand value and user engagement, making it a critical component of the WeChat ecosystem [8][9]. Commercial Implications - The authority and quality of public accounts have attracted numerous enterprises and government entities, contributing significantly to Tencent's advertising revenue, which surpassed 100 billion in recent years [9]. - Despite not being the highest revenue-generating segment, public accounts are deemed essential for Tencent's long-term strategy and market position [10]. Future Considerations - The article emphasizes the need for public accounts to balance traffic generation with maintaining high-quality content, drawing parallels with long-standing reputable media outlets [11]. - Recommendations include enhancing algorithm incentives for original content creators and improving the reporting and review process to ensure fairness and transparency [12][13].

"茂名荔枝"曝光 量过亿！今年抖 音将培育一批乡 村发展带头人_ 南方+_南方plus | 茂名荔枝 | 搜索 | | --- | --- | | 规频 图文 团购 用户 音乐 话题 小程序 | | | #茂名荔枝 1.4亿次插发 | 在前景日 | | #茂名嚣枝之乡 | 日本国家与 | | 297.7万次撞皮 | | | #茂名墓枝节 | 亚图都合 | | 122,2万次排放 | | | #茂名荔枝特产 | 立即单与 | | 211.1万次播放 | | | #茂名高州荔枝 | 立图参与 | | 891.1万次播放 | | | #广东茂名荔枝 | | | 100.8万次播放 | | | #电白荔枝 | 立即使用 | | 423.3万次播放 | | | #我和茂名嚣枝有个约会 | 立即参与 | | 9803.2万次播放 | | "茂名荔枝"话题相关内容在抖音上获1.4亿次播放。 "去年产季，茂 名荔枝在抖音平 台曝光量超1亿 次，商家数量同 比增长115%， 销售荔枝86万 单。今年茂名荔 枝刚开始上市， 期待电商平台为 茂名荔枝销售作 出更大的贡 献。"茂名市农 业农村局代表卢 荣文表示。 5月22日，202 ...

Core Insights - Internet project investment involves a coexistence of strategies, risks, and opportunities, requiring investors to accurately identify project potential and develop sound investment strategies in the face of intense market competition and technological changes [1][2] Investment Strategies - The core of internet project investment lies in technological innovation, with a focus on emerging technologies such as artificial intelligence, big data, and cloud computing [2] - Diversification is recommended to mitigate investment risks by spreading funds across multiple projects, thereby reducing the risk associated with any single project [2][7] - Evaluating the strength of the project team is crucial, as a capable team can drive project development and create more value for investors [2][6] Risk Factors - Technical risks arise from rapid technological iterations that may diminish the competitive edge or value of investment projects [4][7] - Market risks are present due to fierce competition and changing user demands that can jeopardize investment projects [4][7] - Operational risks may occur during project execution, including challenges in team management, market promotion, and fundraising [7] - Policy risks can significantly impact internet project investments due to changes in legal regulations and regulatory policies [7] Response Strategies - Investors should conduct thorough evaluations of potential projects to ensure they select those with significant potential, thereby reducing investment risks [7] - Continuous monitoring of market changes is essential for timely adjustments to investment strategies, allowing investors to seize opportunities [7][10] - Strengthening project management through close communication with project teams is vital to ensure smooth project progression [7][10] - Awareness of policy changes is necessary to ensure compliance and mitigate risks associated with regulatory shifts [7][10] Case Study - A successful internet education platform exemplifies effective investment strategies, where investors researched market trends and policy environments, focused on technological innovation and team strength, diversified investments to lower risks, and maintained strong project management to achieve favorable returns [6]

Core Viewpoint - The era of smart technology presents abundant opportunities for internet entrepreneurship, inviting both entrepreneurs and investors to join various projects that promise brand advantages, technical support, and market promotion [1] Group 1: Cost Reduction - Joining well-known internet companies allows entrepreneurs to leverage brand effects, established operational models, and unified procurement channels, effectively reducing initial investment costs [3] - Brand Effect: Partnering with reputable internet enterprises enhances market acceptance through their established brand recognition and reputation [3] - Operational Model: Utilizing mature operational frameworks helps entrepreneurs bypass the exploratory phase and quickly stabilize their business [3] - Procurement Channels: Standardized procurement pathways lower costs and improve purchasing efficiency [3] Group 2: Risk Diversification - Engaging in established internet entrepreneurship projects enables sharing of successful experiences, technological advantages, and market shares, significantly mitigating entrepreneurial risks [4] Group 3: Success Factors - Key elements for successfully operating an internet entrepreneurship franchise include: - Successful Experience: Joining already successful projects allows for direct replication of their success, avoiding past mistakes [6] - Technological Advantage: Access to advanced technical support enhances project competitiveness [6] - Market Share: Sharing market shares increases the project's market presence [6] Group 4: Types of Internet Entrepreneurship Projects - Major types of internet entrepreneurship projects include: - E-commerce platforms: Selling products through online platforms [7] - Social media: Providing social interaction services to meet social needs [7] - Online education: Offering online educational services for lifelong learning [7] - Sharing economy: Creating value through resource sharing [7] - Artificial intelligence: Providing intelligent services using AI technology [7] Group 5: Choosing the Right Project - Selecting the appropriate internet entrepreneurship franchise is crucial, with recommendations including: - Understanding personal interests and expertise to facilitate business adaptation [9] - Evaluating the brand's reputation, market share, and reliability [9] - Analyzing market trends and long-term potential of the chosen field [9] - Comparing multiple projects to identify the most promising options [9] - Conducting on-site assessments of potential projects to ensure feasibility [9]

1.【贾跃亭"现身"澳门BEYOND大会：中美AI不是非此即彼，而是互补共赢】第五届BEYOND国际 科技创新博览会（BEYOND Expo2025）于5月21日至24日举行。在BGlobal出海峰会上，FF创始 人、联席CEO贾跃亭通过视频发表主题演讲。贾跃亭表示，如果说全球化1.0是靠产品走出去，2.0是 靠资本和技术构建国际竞争力，进入全球化3.0时代，真正决定企业能否立足全球的是为当地创造的 独特且长期的价值。"站在美国看世界，未来中国企业出海的四大新航图，正是桥梁模式、产业和供 应链出海、AI生态出海及Web3生态出海，而这四大要素的破界化反也将成为推动全球商业格局重构 的重大趋势。"贾跃亭说。（新浪科技） 2.【网易数智发布CoreAgent智能体开发平台及导购数字员工等多款行业智能体】网易数智发布 CoreAgent 智能体开发协作中枢，该平台可为企业提供一站式智能体开发解决方案，并通过结合知 识库、运行时沙箱、内容安全等能力，使智能体更加适配企业业务场景，加速企业智能化。此外，网 易数智发起成立了AI生态联盟，首批生态联盟成员包括英特尔、人民中科、盖雅工场、恒生科技、硅 基流动、火山引擎等上下 ...

Group 1: Target and Retail Sector - Target's earnings report led to a 5% drop in stock price, followed by a 3% rebound, indicating market disappointment but limited movement overall [3][4] - The company lowered its guidance and is losing market share to competitors like Walmart and Costco, compounded by a boycott related to its DEI policies [4][5] - Williams Sonoma also reported disappointing earnings, initially dropping 9% before stabilizing, reflecting a broader trend of bad news being priced into retail stocks [5][6] - Gap is highlighted as a potential standout, with a 59% increase in stock price since mid-April, suggesting positive market sentiment ahead of its upcoming earnings report [6][7] Group 2: Reddit and Market Volatility - Reddit's stock experienced significant volatility, dropping 24% over the week after an 11% rally, raising concerns about changing user habits due to AI [9][10] - Despite strong earnings showing a 61% revenue increase and a 31% rise in daily active users, the market is questioning the sustainability of this growth amid shifting traffic patterns [11][10] Group 3: CoreWeave and AI Trade - CoreWeave's stock has surged approximately 80% since its IPO, driven by a $4 billion deal with OpenAI for cloud computing services [14][16] - The company reported a 420% year-over-year revenue increase, indicating strong demand for AI infrastructure [16][18] - The ongoing AI trade is attracting investor interest, with CoreWeave exemplifying the potential for new players in the market [13][18] Group 4: Bond Market and Economic Indicators - Moody's downgrade of US treasuries has led to a rise in the 30-year treasury yield, which is currently above 5%, the highest since 2007 [22][23] - The downgrade reflects concerns over rising national debt and fiscal deficits, with no immediate resolution in sight [24][25] - Upcoming economic data, including the PCE inflation gauge, is anticipated to provide further insights into the economic landscape [28][29]

Group 1 - The company specializes in providing daily-rebalanced ETP products that include leveraged, unleveraged, inverse, and inverse leveraged factors [3] - The research focuses on macroeconomic assessments, strategic sector viability, and market data trends to inform investment decisions [1] - There is a significant interest in Asian markets, particularly India and China, with in-depth analyses published on economic trends and business developments in the region [1] Group 2 - The company does not hold any stock or derivative positions in the companies mentioned, ensuring an unbiased perspective in its analyses [2] - The assets under management (AUM) are primarily influenced by investor interest rather than market movements [3] - The company emphasizes that past performance does not guarantee future results, highlighting the importance of careful consideration before investing [4]

Core Viewpoint - The increasing prevalence and strictness of non-compete agreements in the tech industry are creating significant challenges for employees, limiting their job mobility and leading to a growing focus on labor disputes [1][2][5]. Group 1: Non-Compete Agreements - Non-compete agreements are evolving from targeted defenses to indiscriminate barriers, impacting workers' rights and corporate management [1]. - The duration of non-compete periods typically ranges from 3 to 24 months, with some companies imposing particularly harsh terms [2]. - Companies have absolute discretion in enforcing non-compete agreements, which can be triggered by various factors, including employee cooperation and relationships with supervisors [2][8]. Group 2: Employee Experiences - Employees often find themselves unaware of the full implications of non-compete agreements signed upon hiring, leading to unexpected restrictions upon leaving [4][5]. - Many employees face significant financial strain due to low compensation during the non-compete period, often receiving only 30% of their previous salary [8]. - The broad scope of these agreements can force employees into unrelated industries, resulting in substantial salary reductions and career setbacks [8][9]. Group 3: Industry Trends - The scope of non-compete agreements is expanding to include a wider range of positions and industries, affecting not just high-level executives but also lower-level employees [10]. - The trend of including various sectors, such as finance and artificial intelligence, in non-compete clauses is becoming more common, effectively blocking employees from entering entire industries [9][10]. - The competitive landscape is driving companies to use non-compete agreements as a means to retain talent and protect proprietary information, leading to a talent monopoly [10][11]. Group 4: Legal and Regulatory Context - The legal landscape surrounding non-compete agreements is complex, with high penalties for violations that can reach up to ten times an employee's annual salary [11][12]. - Employees often struggle to contest the validity of these agreements in court, facing lengthy litigation processes [11]. - There are calls for regulatory clarity regarding the definition of "sensitive positions" to curb the excessive use of non-compete agreements across the industry [14].