商 品 研 究 2025 年 5 月 16 日 业 服 务 研 究 所 | 王蓉 | 投资咨询从业资格号：Z0002529 | wangrong013179@gtjas.com | | --- | --- | --- | | 刘雨萱 | 投资咨询从业资格号：Z0020476 | liuyuxuan023982@gtjas.com | 【基本面跟踪】 贵金属基本面数据 | | | 昨日收盘价 | 日涨幅 | 昨日夜盘收盘价 | 夜盘涨幅 | | --- | --- | --- | --- | --- | --- | | | 沪金2506 | 737.64 | -2.90% | 754.32 | 1.22% | | | 黄金T+D | 735.39 | -3.06% | 751.00 | 1.66% | | | Comex黄金2506 | 3236.99 | 1.61% | - | | | | 伦敦金现货 | 3243.00 | 1.98% | - | - | | | 沪银2506 | 7991 | -2.20% | 8134.00 | 1.02% | | 期货及现货电 | 白银T+D | 7967 | -2.5 ...

网易-S高开超10%，公司一季度净利润103.01亿元，同比增长34.94%。 ...

Core Viewpoint - Tencent Holdings reported strong growth across its three core business segments in Q1 2025, with revenue reaching 1800.2 billion yuan, a 13% year-on-year increase, and significant investments in AI strategy [2][3][6]. Revenue and Profit Growth - In Q1 2025, Tencent achieved revenue of 1800.2 billion yuan, up 13% year-on-year, with gross profit of 1004.9 billion yuan, reflecting a 20% increase, and operating profit (Non-IFRS) of 693.2 billion yuan, growing 18% [2][3]. - The growth in gross profit and operating profit outpaced revenue growth, indicating improved efficiency and profitability [3]. Core Business Segments Performance - All three core business segments—Value-Added Services, Marketing Services, and Financial Technology & Enterprise Services—showed robust growth [3][4]. - Value-Added Services generated 921 billion yuan in revenue, a 17% increase, driven by strong performance in domestic gaming and new titles [3][4]. - Marketing Services revenue rose 20% to 319 billion yuan, fueled by high demand for advertising on platforms like WeChat and video accounts [4]. - Financial Technology & Enterprise Services revenue grew 5% to 549 billion yuan, supported by increases in consumer loan and wealth management services [4]. User Engagement and Growth Metrics - The combined monthly active accounts for WeChat and QQ reached 1.402 billion and 534 million, respectively, with slight quarter-on-quarter increases [4][6]. - Paid membership for value-added services reached 268 million, reflecting a 2% increase [4]. AI Strategy and Investments - Tencent's AI strategy is a key driver of its business growth, enhancing user engagement and operational efficiency across various segments [6][7]. - R&D expenditure in Q1 2025 was 189.1 billion yuan, a 21% increase, while capital expenditure surged 91% to 274.8 billion yuan [6][7]. - The company has integrated AI capabilities into over 900 business scenarios, significantly improving product functionality and user experience [7]. Share Buyback and Investor Returns - Tencent repurchased approximately 42.984 million shares for a total consideration of 171 billion HKD in Q1 2025, with the shares subsequently canceled [5][6]. - The share buyback is part of Tencent's strategy to enhance long-term shareholder value [5].

据华尔街日报：MetaPlatforms(META.O)正在推迟其旗舰人工智能模型的推出。 ...

Thanks to mounting legal pressure in the United States and China, DA Davidson’s Gil Luria gave Alphabet (NASDAQ: GOOGL) stock an unorthodox and conditional price target on May 13.According to Luria, the technology giant is being held back by its mere existence, and its shareholders could enjoy significant returns should a breakup be implemented. Despite agreeing with the overall sentiment toward Google, the expert disagrees with the Department of Justice’s (DoJ) ‘isolated spinoffs’ suggestion, and is advoca ...

今年AI投入显著加码，最新财报显示，腾讯资本开支同比增长91%，阿里资本开支同比增长168%。未 来，两大巨头显然选择继续加注。上一财季阿里宣布未来三年投入3800亿元用于AI及云基础设施建 设，腾讯预计今年资本开支将逼近千亿元。 管理层仍坚信，短期阵痛是为长期领跑AI时代必须支付的"门票"。 AI推动增长 21世纪经济报道记者董静怡 上海报道 当全球AI竞赛进入深水区，中国科技巨头的战略路径差异正逐渐 清晰。 5月15日，阿里巴巴集团发布的2025财年Q4及全年业绩显示，该季度内，阿里巴巴集团收入2364.54亿 元，同比增长7%；经调整EBITA（非公认会计准则指标）同比增长36%至326.16亿元；非公认会计准则 净利润为298.47亿元，同比增长22%。 "AI驱动"持续释放发展动能，核心业务增长继续提速。在千行百业强劲的AI需求推动下，AI相关产品 收入连续七个季度实现三位数增长，带动阿里云季度收入增长加速至18%，阿里云2025财年全年收入突 破双位数增长。 就在一天前，腾讯发布了财报，AI同样是其中的高频词。腾讯董事会主席兼首席执行官马化腾表示， AI能力已经对效果广告与长青游戏等业务产生了实质 ...

在2025财年Q4及全年财报分析师电话会上，阿里巴巴集团CEO吴泳铭表示，过去一个财年，集团基本 形成了AI+云、电商、其他互联网平台业务的发展阵型。他表示，"目前全球AI供应链存在一些不确定 性，我们看到客户对于云和AI的需求在持续增长，这是未来10-20年的历史性机会，不会因为短期供应 链的波动而变化。阿里巴巴投入云和基础设施的信心和决心不会变。"(科创板日报) ...

Core Viewpoint - The "Youth Cloud Assistance Program" initiated by Alibaba Foundation is transforming education in remote areas of China by providing AI-powered digital learning environments, significantly enhancing the educational experience for students and teachers [1][4][5]. Group 1: Program Overview - The program has established cloud-based digital learning spaces for students since 2021, addressing the challenges of weak educational foundations in rural areas [1][5]. - It has donated cloud computer classrooms to 300 primary and secondary schools nationwide, benefiting 250,000 students [5]. Group 2: Educational Impact - Students have created over 5,000 AI-generated artworks through the program, allowing them to engage with advanced technologies and explore their creativity [5]. - The program facilitates interdisciplinary learning, enabling students to interact with AI teachers and learn about historical figures like Van Gogh in an engaging manner [4][5]. Group 3: Future Initiatives - Starting November 2024, a digital public welfare story collection and broadcast activity will be organized to showcase 50 representative digital public welfare stories, further promoting the establishment of AI classrooms for rural children [4].

华夏时报（www.chinatimes.net.cn）记者 刘诗萌 北京报道 距离2021年人力资源社会保障部与最高人民法院明确"996"严重违法已经过去接近4年时间，隐形加班、 自愿加班导致的职工健康与安全问题仍然时有发生。 去年下半年，杭州一名55岁的平台外卖员晕倒在路边，抢救无效宣布死亡，知情人称其一天工作16个小 时以上，被称为"杭州单王"；近日，猿辅导武汉公司一名不到30岁的员工在工位上猝死，该公司曾多次 被报道存在超长加班…… 这些看似意外的事件，凸显了互联网企业长期以来面临的效率与公平的两难困境。对于企业而言，要求 员工超时加班违法，不要求加班则有可能损失效率；对于员工来说，加班损害健康，不加班则有可能损 失收入。尤其是当员工在劳资关系中处于弱势时，很多时候加班都只是用来表现或者表演工作的无奈之 举。 地区标准方面，2024年11月三大交易所发布《上市公司可持续发展报告编制指南（征求意见稿）》，其 中提供了一个参考编制框架，其中在社会维度要求对员工、产品和服务安全与质量、数据安全与客户隐 私保护、创新驱动、科技伦理、供应链安全、平等对待中小企业、乡村振兴、社会贡献议题的治理，战 略，影响、风险和 ...