AI应用端持续走高，AI智能体方向领涨。港股AI应用标杆企业迈富时(02556)表现亮眼，继昨日走强 后，今日再度拉升，两日累计涨幅已突破16%。 智能体(AI Agent)商业化加速：迈富时近期正式发布了自主研发的AI-Agentforce 3.0企业级智能体中台， 实现了从"工具式AI"向"数字劳动力"的跃迁。该平台在营销、销售及跨境电商等多个场景的规模化落 地，被市场视为AI应用进入价值兑现期的重要信号。 巨头生态深度协同：消息面上，迈富时已与百度、阿里、沐曦股份等顶尖科技企业达成深度战略合作。 通过整合底层大模型能力与自身SaaS垂直场景数据，公司在"2025中国AI营销智能体TOP30"榜单中位列 榜首，技术成熟度获业界认可。 行业情绪共振：今日AI应用板块集体爆发，蓝色光标（300058）、易点天下（301171）等多只个股大 涨。市场分析认为，随着Meta以数十亿美元收购AI应用厂商等国际动作频发，全球资本正加速流向具 备实际业务闭环能力的AI Agent赛道。 核心逻辑分析 ...

Market Overview - On the last trading day of 2025, A-shares experienced fluctuations with the three major indices declining slightly, while individual stocks showed active performance [1] - The Shanghai Composite Index fell by 0.07%, the Shenzhen Component Index decreased by 0.67%, and the ChiNext Index dropped by 1.1% [1] Key Stock Performances - Major players in the non-ferrous metals sector, Zijin Mining and Luoyang Molybdenum, both reached historical highs [1] - Nengdongguang surged by 919.31%, with intraday gains exceeding 1000% [1] - Leading humanoid robot stock, Sanhua Intelligent Control, rose by 3.75%, also hitting a historical high [1] - Hefei Urban Construction, a stock related to Changxin Technology, hit the daily limit [2] Changxin Technology IPO - Changxin Technology has submitted an IPO application to the Sci-Tech Innovation Board, aiming to raise 29.5 billion yuan for various technology upgrade projects, with a total investment of 34.5 billion yuan [2] - Following this news, stocks related to Changxin Technology, such as Hefei Urban Construction and Shifeng Cement, saw significant price increases [2] Storage Chip Market Dynamics - Recent months have seen reports of rising prices in the storage chip market, with DRAM and NAND Flash prices increasing by over 300% since September [4] - TrendForce's report indicates that DDR4, DDR5, and module prices continue to rise, driven by inventory releases from traders for year-end accounting [4] - Demand for high-bandwidth memory (HBM) and large-capacity storage is increasing, while supply constraints are pushing the market into a price upcycle [5] AI Application Sector - The AI application sector saw a broad increase, with significant gains in AI-related stocks such as AI corpus, Zhiyu AI, and Sora concepts [6] - Major catalysts for the rise in AI applications include Meta's acquisition of Manus and the Hong Kong IPO of Beijing Zhiyu Huazhang Technology [8] - Tencent's release of an open-source translation model supporting 33 languages has also contributed to the sector's strength [8] Future Outlook - The global AI model iteration is accelerating, with expectations for continued high growth in AI model usage and computational demand through 2026 [9] - Investment opportunities are suggested in AI computing power, domestic AI hardware, and AI applications, particularly as potential breakout applications emerge [9]

【导读】上午三大指数集体下跌，AI智能体、教育、商业航天等逆市上涨 大家好，今天是2025年最后一个交易日了，新的一年即将到来，基金君和你继续关注市场行情！ 12月31日上午，A股三大股指集体下跌。截至午间收盘，沪指跌0.07%，深证成指跌0.67%，创业板指跌1.1%。 沪深两市半日成交额为1.31万亿元，较上个交易日放量176亿元。个股跌多涨少，全市场共2182只个股上涨，38只个股涨停，有3042只个股下跌。 从板块看，AI应用、教育、有色金属板块领涨，商业航天概念股持续活跃；船舶制造、医药商业、化肥等领跌，光模块CPO概念股下挫。 港股方面，恒生指数、恒生科技指数、恒生中国企业指数等全线下跌。个股方面，阿里巴巴跌超1%，比亚迪（002594）股份跌超2%，腾讯控股、小米集 团、中芯国际、网易、美的集团（000333）纷纷下跌。 | 序号 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | HSI | 恒生指数 | 25594.70 | -259.90 | -1. ...

行业情绪共振：今日AI应用板块集体爆发，蓝色光标、易点天下等多只个股大涨。市场分析认为，随 着Meta以数十亿美元收购AI应用厂商等国际动作频发，全球资本正加速流向具备实际业务闭环能力的 AI Agent赛道。 智能体(AI Agent)商业化加速：迈富时近期正式发布了自主研发的AI-Agentforce 3.0企业级智能体中台， 实现了从"工具式AI"向"数字劳动力"的跃迁。该平台在营销、销售及跨境电商等多个场景的规模化落 地，被市场视为AI应用进入价值兑现期的重要信号。 巨头生态深度协同：消息面上，迈富时已与百度、阿里、沐曦股份等顶尖科技企业达成深度战略合作。 通过整合底层大模型能力与自身SaaS垂直场景数据，公司在"2025中国AI营销智能体TOP30"榜单中位列 榜首，技术成熟度获业界认可。 智通财经APP获悉，AI应用端持续走高，AI智能体方向领涨。港股AI应用标杆企业迈富时(02556)表现 亮眼，继昨日走强后，今日再度拉升，两日累计涨幅已突破16%。 核心逻辑分析 ...

凤凰网财经讯 12月31日，沪指早盘窄幅震荡，创业板指冲高回落跌超1%。截至午间收盘，沪指跌 0.07%，深成指跌0.67%，创业板指跌1.1%。沪深两市半日成交额1.31万亿，较上个交易日放量176亿。 | | | | | 私法郎曲出版头 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 *● | 最新 | 涨幅% | | 涨跌 涨跌家数 张速% | | | 总手 现手 | | 上证指数 | 3962.24 | -0.07 | -2.87 | 925/1305 | -0.04 | 3.047 | 2.86万 5283.53亿 | | 深证成指 | 13513.21 | -0.67 | -90.86 | 1150/1645 | -0.05 | 4.62 乙 | 1175 7836.73 乙 | | 北证50 | 1445.59 | -0.35 | -5.05 | 135/140 | 0.05 | 462 7 | 890 130.18 Z | | 创业板指 | 3207.24 | -1.10 | -35.66 | 617/734 | | ...

三大指数早盘集体下跌，截至午盘，沪指跌0.07%，深成指跌0.67%，创业板指跌1.1%，北证50指数跌 0.35%，沪深京三市半日成交额13249亿元，较上日放量210亿元。全市场超3000只个股下跌。板块题材 上，AI智能体、商业航天、跨境支付、房地产、量子科技概念股涨幅居前；化学纤维、造纸、白酒、 化肥、猪肉、液冷服务器板块跌幅居前。盘面上，商业航天板块再度爆发，泰尔股份5连板，雷科防 务、宏英智能3连板，长江通信、北斗星通、城建发展、烽火通信涨停。AI应用方向延续活跃，蓝色光 标20cm涨停创10年新高，掌阅科技、德生科技封板。另一方面，医药商业板块早盘下挫，鹭燕医药盘 中闪崩跌停，达嘉维康、合富中国、药易购跟跌。电池产业链震荡下探，海科新源、欣旺达、铜冠铜箔 跌幅居前。 ...

今天，先说很多人比较关心的几件事。 第一件事，人民币继续升值。截至15:30，离岸人民币兑美元盘中涨破6.99关口，最高至6.98555。此 外，在岸人民币兑美元升破7.0关口，创下2023年5月17日以来的最高水平。 有市场策略师指出，人民币可能进一步升值，主要受外资流入、经济增长复苏预期以及科技板块乐观情 绪支撑。 第二件事，在遭遇"黑色星期一"之后，部分金属期货今天大幅反弹。其中，COMEX白银一度大涨超 5%，COMEX铜一度上涨超3%，LME镍创下今年4月以来的新高，LME锡一度上涨超2%。此外，国际 金价有所止跌。 昨天，达哥提到，芝加哥商品交易所全面上调部分金属品种的期货履约保证金，这可能会影响金属期货 及A股有色板块的短期走势，但有色板块并不能轻言波段见顶。 今天，A股的有色板块指数盘中收复了昨天阴线实体的一半，核心股紫金矿业、洛阳钼业收盘收在昨天 阴线实体的中分位上方，表现均不错。 第三件事，Meta宣布收购AI智能体公司Manus。这是Meta成立以来的第三大收购，花费仅次于 WhatsApp和Scale AI。 对于此次收购，浙商证券指出，预计可继续强化市场对AI应用、智能体乃至算力行业 ...

Market Overview - The Shanghai Composite Index closed nearly flat with a ten-day consecutive rise, ending at 3965.12 points, while the Shenzhen Component Index rose by 0.49% to 13604.07 points, and the ChiNext Index increased by 0.63% to 3242.90 points. The total trading volume in the Shanghai and Shenzhen markets was 21,426 billion, a slight increase of 3.3 billion from the previous day [2]. Precious Metals Market - Precious metals experienced a significant decline, with COMEX gold futures dropping by 4.45% to $4,350.2 per ounce, and COMEX silver futures falling by 7.2% to $71.64 per ounce. Spot silver decreased by 8.89%, while spot gold fell by 4.42%. Palladium and platinum saw declines of over 15% and 14%, respectively [4]. - The increase in trading margins for gold, silver, palladium, and lithium futures by the Chicago Mercantile Exchange (CME) was a direct trigger for the market sell-off, as it raised speculative trading costs and forced many leveraged long positions to liquidate [5]. AI Sector Developments - The AI application sector was notably active, with stocks like Cooltech Intelligent hitting a 20% limit up, and BlueFocus rising over 7% [7]. - Meta's acquisition of the AI application developer Manus for several billion dollars marks its third-largest acquisition, following WhatsApp and Scale AI. The deal was completed in a very short timeframe, indicating strong interest in AI technologies [11]. - The AI company Zhiyu officially launched its IPO, aiming to raise 4.3 billion Hong Kong dollars, with an expected market capitalization exceeding 51.1 billion Hong Kong dollars upon listing [12][13]. Film and Entertainment Sector - The film sector showed resilience, with stocks like Baiana Qiancheng and Hubei Broadcasting both hitting a 20% limit up. The total box office for the 2025 New Year’s film season surpassed 5 billion yuan, setting a new record for the same period over the past eight years [16][18]. - The success of films like "Zootopia 2," which is expected to surpass 4 billion yuan in box office revenue, highlights the competitive landscape of the film industry, where top films often dominate the market [18]. - The strong performance of the New Year’s film season and the anticipation of quality films for the upcoming Spring Festival suggest a positive outlook for the film and cinema sector [19].

市场概况 2739 1215 540 330 152 149 122 66 99 44 46 33 19 小于 大于 +8% 涨停 +8% +6% 0% -2% -4% -6% -8% +4% +2% 跌停 -8% 上涨 1840家 持平 149家 下跌 3480家 跌停 涨停 66家 停牌 12家 19家 两市成交额:2.14万亿 市场热度: 31 0 较上一日:+32.8亿 今日预测量能: 0 100 50 2.14万亿 | +32.8亿 今日A股市场午后震荡上扬， 沪指收出十连阳，深成指、创业板指盘中均涨超0.5% 。沪深两市成交额2.14万亿，较上一个交易日放量32亿。 盘面上，市场热点快速轮动，全市场超3400只个股下跌。从板块来看， 机器人概念持续爆发 ，十余只成分股涨停，锋龙股份5连板，天奇股份4连 板，五洲新春、万向钱潮、浙江荣泰涨停。 AI应用端表现活跃 ，酷特智能20cm涨停。商业航天概念整体冲高回落，大业股份5连板，而神剑股份跌 停，鲁信创投炸板飘绿。 下跌方面，海南、零售等板块跌幅居前。其中海南自贸概念集体走弱，海南发展大跌。 截至收盘，沪指跌0.00%，深成指涨0.49%，创业板指涨 ...

AI极速进化的2025年，模型和应用站上对垒的两端。通用模型的快速迭代和功能内化，让率先实现商业化 落地的垂类AI应用遭遇"模型吞噬"的叙事压制，下半年在资本市场表现不佳，板块整体遇冷，个股估值下 滑。 一个最典型的例子是美图。这家经移动互联网时代而来的影像公司，近两年抓住AI风口成功转型AI应用公 司，商业化表现不俗，成为港股AI应用的明星标的，上半年股价一度暴涨超300%。然而，AI影像爆发的当 下，在国内字节推出豆包、海外谷歌发布Nano Banana等标志性节点，每一次巨头厂商的技术溢出，都让作 为垂类应用代表的美图遭遇价值"拷打"。 在垂直赛道具备先发优势的中小型应用公司，究竟有没有护城河？它们怎么应对巨头模型厂商的攻城掠 地？全球竞争下要如何存活并活得更好？以美图为切口，我们试图捕捉垂类应用在AI时代的更多机会与可 能。 01 香蕉豆包，蚕食美图？ 谷歌"香蕉"（Nano Banana大模型）的横空出世，是2025年大模型技术溢出的一个标志性事件。它几乎集合 了AI竞技场所有的噱头：由全球领先的科技巨头开发，杀入大众感知度最强的影像赛道，靠创意玩法掀起 全球浪潮，乃至一举超越霸榜App Store ...