格隆汇12月22日｜中金发表内地在线平台行业报告表示，近期市场整体情绪转低带来板块整体出现回调 格局，当下板块整体估值已处于均值和25分位之间。从基本面来看，板块整体业绩稳健，广告、游戏等 主要赛道仍有健康增速，重点公司例如腾讯等依然表现出利润率提升经营杠杆。此外，该行认为AI仍 处于高速发展状态，且相对于海外科技巨头激进资本开支，国内互联网公司投入更加实际，自然也更加 可持续，该行仍然认为AI将成为未来部分互联网公司重要增量机遇。整体来看，基本面稳健，AI潜力 仍在，但估值在降低，该行认为板块吸引力在增强。综合来看，核心推荐腾讯控股，建议关注快手、网 易、赤子城科技、哔哩哔哩。 ...

Core Viewpoint - The European Commission's Executive Vice President for Technology Sovereignty, Hanna Vainio, emphasized that the Digital Services Act and the Digital Markets Act are considered "sovereign legislation" of the EU, which will continue to be enforced [2] Group 1: Digital Legislation - The Digital Services Act and Digital Markets Act are non-discriminatory and apply to all online platforms operating within the EU [2] - The EU digital legislation does not have extraterritorial effect; however, any services provided within the EU will be subject to EU regulations, regardless of the company's headquarters location [2] Group 2: International Relations - Former U.S. President Trump warned on social media that countries implementing digital taxes, legislation, or regulations against U.S. companies could face high additional tariffs on goods exported to the U.S. unless they withdraw "discriminatory measures" [2]