HMVOD视频(08103)发布公告内容有关(其中包括)联交所上市科的决定，认为公司未能维持GEM上市规 则第17.26条所规定的足够营运水平及拥有足够资产价值支持其营运，以确保其股份能够继续上市，故 公司的股份将根据GEM上市规则第9.04(3)条的规定于2026年1月9日暂停买卖，除非公司根据GEM上市 规则第4章赋予的权利对该决定提出复核申请。于2026年1月8日，公司已向GEM上市委员会提交申请， 要求就该决定进行复核。 ...

"提振、细化、聚焦"——从中央经济工作会议及 11 月经 济指标明确消费主线 20251216 摘要 内需已成共识，各级政府通过细化政策提升获得感，财政与货币协同、 地方政府内卷及新增供给刺激是主要驱动力。关注政策对情绪和估值的 抬升，而非过度解读短期社零数据波动。 预计 2026、2027 年服务消费政策将迎来密集落地期，关注长假、春/ 秋假推广、带薪休假落实等细节性政策，为旅游等服务消费提供时间保 障，利好 OTA 公司及景区类公司。 看好职业教育机构受益于服务型消费政策，纺织服装行业冬装去库存预 期较好，关注家纺龙头企业及具有国际化多品牌发展的运动品牌，黄金 珠宝行业关注品牌差异化公司及困境反转潜力股。 零售业受益于内需主导政策和超长春节假期，CPI 向好将拉动超市板块 收益，关注重点区域零售公司。美护领域亦是促进内需的重要抓手，关 注已递交招股书的美妆企业。 家电行业经历补贴退坡后的脉冲式下滑后有望回稳，产品结构升级趋势 延续，长期进入后补贴时代，线下消费及服务消费补贴力度或加强，关 注白电龙头及新兴智能硬件领域。 Q&A 如何解读近期中央经济工作会议的精神及其对未来经济的影响？ 本次中央经济工作会议 ...

完整早报音频，请点击标题下方小耳机收听 【范曾新添幼子并与儿女 "断绝关系"的背后：家庭和艺术资产再整合】 2025 年 12 月 11 日中午， 87 岁的书画家范曾通过个人社交平台发 布的一则声明，如一石激起千层浪，迅速成为舆论焦点。声明中，他不仅宣布与第四任妻子徐萌"喜得独子"，更决绝地表示与女儿范晓蕙、继 子范仲达及其家属"断绝关系"，并将所有个人及商业事务全权委托给妻子徐萌。 记者发现，这纸声明并非孤立的情感决裂，其背后紧密关联着 9 天前（ 12 月 2 日）一家名为"十翼范曾（北京）文化艺术有限公司"的新企业 悄然成立。与范曾此前交往颇多的书画收藏界人士曹泽益接受澎湃新闻采访时表示，范曾声明中所言的"本人涉及的一切公益慈善事务，仅通过 北京十翼文化艺术基金会完成；商业运营相关事务，将通过十翼范曾（北京）文化艺术有限公司办理"都是有所指的，"其继子范仲达曾深度参 与其商业运营包括直播销售以范曾为名相关的艺术品。然而，以后，如果以范曾之名直播销售艺术品恐怕就不太好说了。"（澎湃新闻） 上下滑动可查看长图 【 B 站辟谣全面会员：对于造谣者将追究法律责任】 12 月 11 日消息，一条关于哔哩哔哩（下 ...

12月2日晚，乐视网信息技术（北京）股份有限公司发布公告，宣布拟利用不超过1.8亿元自有资金进行股票投资，以获取额外收益。消息一出，"乐视网 负债238亿拟花1.8亿炒股"迅速登上热搜，引发市场对这家昔日"视频巨头"生存现状的关注。 | © 上百台 缔造有远见的商业传奇 全国企业信用查询系统 | | 乐视网信息技术（北京）股份有限公司 | 8 查一下 | | | 品应用 · 企业中心 ■ | | | --- | --- | --- | --- | --- | --- | --- | --- | | 基本信息 250 | | 法律师论 999+ 经营风险 53 | 经营信息 241 | 企业发展 999+ | 知识产权 999+ | | 历史信! | | 被执行人 1 | VIP | | | | | | | | 被执行人4 历史被执行人292 | | | | | | | 网 음田 | | | | | 被执行总金额： 11,959.52 万元 | | | | | | 序号 | 案号 | 被执行人 | | 执行标的(元) ÷ | 执行法院 | | 立案日期 ÷ | | 1- | (2025) 京01执恢331号 | ...

12月2日，乐视网公告称，拟在不影响主营业务正常发展的前提下，利用自有资金进行股票等金融资产 投资，以提升资金使用效率、获取额外投资收益。 根据公告，公司计划用于新股认购、二级市场股票交易及国债逆回购的投资总额不超过人民币1.8亿 元。其中，二级市场自由买卖的股票总市值不超过3000万元，且需满足"银行股比例不低于50%""沪深 300指数成份股不低于80%"的限制条件。北京证券交易所新股认购和国债逆回购的总金额则不低于1.5 亿元。投资额度在股东大会审议通过之日起36个月内可循环使用。 此前，乐视网曾于4月28日发布公告，公司拟利用自有资金购买股票，投资品种同样为北京证券交易所 新股认购、二级市场自由买卖的股票和国债逆回购，投资本金总金额则不超过人民币5000万元，其中二 级市场自由买卖的股票总市值不超过1000万元（其中银行股比例不低于30%，沪深300指数成份股不低 于80%），北京证券交易所新股认购和国债逆回购总金额不超过4000万元。 公司表示，进行此类投资主要为提高资金使用效益，但同时也承认股市受宏观政策、市场波动等因素影 响，存在一定系统性风险。为此，公司将安排专业人员持续跟踪分析，加强风险控制 ...

Group 1 - The Nasdaq China Golden Dragon Index fell by 0.65% on December 3rd, indicating a downward trend in popular Chinese concept stocks [1] - Notable gainers included Atour, which rose over 5%, and Tiger Securities, which increased by over 2% [1] - Significant decliners included XPeng Motors, which dropped over 7%, and iQIYI, which fell over 3%, along with NIO, Global Data, and Bilibili, each declining over 2% [1] Group 2 - Alibaba, NetEase, and ZTO Express each experienced a decline of over 1% [1]

Group 1 - Xiaopeng Motors saw a pre-market decline of 4% [1] - Alibaba experienced a drop of 1.4% [1] - Bilibili's stock fell by 1.3% [1]

Core Insights - The integration of technology and culture is reshaping the cultural industry, with significant opportunities arising from advancements in AI, AR/VR, and digital content production [1] Group 1: Cultural Technology Integration - The recent investment conference in the Guangdong-Hong Kong-Macao Greater Bay Area highlighted the theme of empowering the cultural industry with technology [1] - 4K Garden's chairman discussed the successful application of AI and ultra-high-definition technology during the recent National Games, showcasing a shift from traditional large-scale events to more technologically advanced presentations [2] - AI has enabled significant cost reductions and quality improvements in video production, with 4K Garden demonstrating that AI-enhanced 1080P footage can rival 4K quality [3] Group 2: Business Applications of AI - Find Steel Group has invested heavily in AI, with approximately 50% of its R&D focused on developing intelligent systems that enhance efficiency in pricing and logistics, generating significant revenue [4] - The company reported that its AI systems contributed to generating 100 million yuan in revenue in the first half of the year [4] Group 3: Cultural Heritage and Innovation - Shanxi Gifts has transitioned from traditional cultural preservation to creating digital products based on cultural heritage, participating in the globally popular game "Black Myth: Wukong" [6] - The company has successfully implemented various digital cultural projects with government support, enhancing the local tourism market [6] Group 4: Future of Cultural Technology - The key breakthrough in the integration of culture and technology lies in nurturing young entrepreneurs who are passionate about driving innovation [10] - The importance of dual advancements in software and hardware is emphasized, with expectations for significant progress in the next three to five years [11] - The need for interdisciplinary talent that combines cultural imagination with technological understanding is crucial for future breakthroughs [12]

Market Overview - The Hang Seng Index rose by 0.11%, gaining 28 points to close at 26,061 points, while the Hang Seng Tech Index fell by 0.53%. The early trading volume in Hong Kong stocks reached HKD 990 billion [1]. Oil Sector - Oil stocks saw an increase in early trading, with CNOOC (00883) up by 2.24%, PetroChina (00857) rising by 1.25%, and Sinopec (00386) increasing by 1.57%. This uptick follows OPEC+'s confirmation to pause production increases in Q1 of next year [1]. Automotive Sector - GAC Group (02238) surged by 7%, with Morgan Stanley citing three favorable factors that have driven the stock price, indicating that H-shares are currently undervalued [1]. Optical Sector - Conant Optical (02276) experienced a rise of over 10%, attributed to its exclusive supply of lenses for Quark AI glasses, with institutions optimistic about the profitability of eyewear companies [2]. Mining Sector - Zhenfeng Gold (01815) increased by over 7%, as the company plans to raise nearly HKD 400 million for exploration in two mines in Tibet [3]. Lithium Battery Sector - Longpan Technology (02465) rose by over 4%, with institutions optimistic about the profitability improvements across various segments of the lithium battery supply chain [4]. Machinery Sector - Zoomlion Heavy Industry (01157) saw a 1.64% increase, as the market size for mining equipment is gradually expanding, with institutions optimistic about the company's emerging businesses in mining machinery [5]. Gaming Sector - Gaming stocks experienced a general rise, with MGM China (02282) up by 1.5% following a 14.4% year-on-year increase in Macau's November gaming revenue. Hong Kong Travel (00308) rose by 2.78%, with Citigroup raising its target price due to recent physical distribution in the tourism sector [5]. Technology Sector - Kuaishou-W (01024) increased by over 1% after the official launch of its AI video O1 model [5]. Automotive Sector (Negative) - Xpeng Motors-W (09868) fell by 5.2%, with November new car deliveries decreasing by 12.58% month-on-month [6].

Group 1 - The core opportunity in the internet and media sectors for 2025 is centered around AI revaluation, particularly in cloud computing, and the globalization and youth-oriented trends in self-consumption, such as trendy toys, music, and concerts [3][4] - AI cloud capital expenditure (capex) is expected to expand in its second year, with a focus on return on investment (ROI) from AI investments, making capex/operating cash flow a key metric for investors [3][4] - Major companies to watch in the AI cloud space include Alibaba, Baidu, and Kingsoft Cloud, which are focusing on domestic production and infrastructure [3][12] Group 2 - The AI application landscape is shifting from conceptual discussions to a focus on commercial viability, with significant developments in AI advertising and video monetization expected in 2026 [3][4] - Tencent, Bilibili, Meitu, Kuaishou, and Focus Technology are highlighted as key players in the AI application ecosystem, with a particular emphasis on the monetization of chatbot applications and the evolution of AI video tools into community platforms [3][4] - The gaming sector is seeing structural opportunities driven by Generation Z and international expansion, with a focus on companies like Giant Network, Century Huatong, and Xindong Company [3][4] Group 3 - The self-consumption trend is expected to continue, with gaming, music, and trendy toys being key areas of growth, particularly as the market adjusts post-2025 [3][4] - The video sector is anticipated to reach a turning point, with policy stabilization and diverse monetization strategies being crucial for growth [3][4] - Companies such as Mango Super Media, Shanghai Film, and Reading Group are positioned to benefit from these trends [3][4] Group 4 - The report indicates a recovery in companies like Focus Media, Vision Source, and educational publishing firms, suggesting a positive outlook for these sectors [3][4] - The report emphasizes the importance of continuous performance and valuation adjustments in the context of evolving market conditions [3][4] Group 5 - The domestic cloud computing market is witnessing increased capital expenditure from major internet companies, with Alibaba and Tencent leading the charge [18][19] - The report highlights the importance of measuring the health of cloud investments through the capex/operating cash flow ratio, with Tencent's ratio being notably lower than its peers [19][29] - AI-driven cloud services are expected to maintain higher profit margins compared to traditional cloud offerings, with a focus on internal workload efficiencies [29][30] Group 6 - The report outlines the competitive landscape of AI applications, noting that Chinese companies are making significant strides in the global market, particularly in productivity tools and content generation [34][35] - The emergence of ChatGPT as a multi-functional platform is reshaping the AI application ecosystem, with significant implications for user engagement and commercial applications [35][39] - Advertising remains a critical area for AI commercialization, with companies like Meta, Tencent, and Bilibili leveraging AI to enhance ad performance and efficiency [43][49]