阿里巴巴集团副总裁刘菲坦言："南京阿里中心不仅是阿里巴巴在南京的'新家'，更是一个面向未 来、开放共享的创新生态平台。"政企携手做优发展生态，南京阿里中心开园当日，河西中央科创区"亲 清·政务港"同步开放，将为入驻企业一站式提供工商注册、社保税务等精准适配的政务服务。 建邺区始终坚持产城融合的发展理念，致力于为产业人才、精英白领打造宜居宜业的工作与生活环 境。近年来，南京阿里中心周边3公里范围内，南京国际友谊公园、南京国际医院等公共服务设施相继 建成，河西南地区的城市品质和功能配套显著提升。今年，依托阿里、小米等互联网大厂园区，建邺区 全面启动河西中央科创区建设。在今年南京市委提出的"两城两区两港两中心"创新枢纽布局中，河西中 央科创区成为重要一极。 南京阿里中心园区物理空间互联互通，不仅折射互联网大厂开放协作的生态，也呼应了河西中央科 创区的发展愿景——通过数据要素链接"人工智能+"企业，打造全省有影响力的"人工智能+"产业高地。 7月11日，省重大项目南京阿里中心正式开园。该园区位于南京市建邺区河西南地区，是阿里巴巴 控股集团在江苏省内首个自建自持的园区，也是全国体量最大、业态最丰富的阿里中心，其中人才公 ...

2025年，人工智能将如何进一步突破认知的极限？又将怎样更深刻地助力千行百业，并塑造我们共同的 科技未来？ 7月27日，由世界人工智能大会组委会指导， 腾讯华东总部、腾讯优图实验室主办，腾讯研究院、腾讯 科技、腾讯云智能、腾讯Robotics X实验室、腾讯SSV为村发展实验室、腾讯游戏VISVISE、QQ浏览 器、ima及搜狗输入法 等共同支持的 2025世界人工智能大会腾讯论坛 将在 上海 举办。 当科技的浪潮奔涌向前，人工智能正以超乎想象的速度重塑世界。从早期的理论设想，到如今成为变革 世界的核心力量，AI 不再是高悬于科幻云端的概念，已然化作 生活中无处不在的贴心助手 ，驱动着产 业升级、革新用户体验、重构人机协同，在诸多领域展现出令人瞩目的突破性潜能。 2024 年，我们共同经历了生成式AI的深化融合与爆发式应用。以多模态大模型和具身智能为代表的科 技新范式不断涌现，不仅拓宽了AI能力的边界，更深层次地加速了智能与人类社会的共生进程，为人工 智能的发展书写激动人心的新篇章。 今年， 我们将以"智能涌现"为主题， 聚焦全球AI技术与产业深度融合趋势，围绕"大模型垂直落地、场 景创新突破、生态共建协同" ...

智通财经APP获悉，Canalys最新数据显示，2025年第一季度，中国内地在云基础设施服务上的支出达到116亿美元，同比增长16%。AI相 关需求已成为推动企业向云端迁移的主要动力。为把握这一增长机遇，云厂商正积极加大对AI基础设施和模型研发的投资。为弥合AI大 模型能力与实际业务需求之间的差距，厂商正采取多种战略路径，包括开源AI模型、拓展合作伙伴生态、推出AI智能体开发平台等。 在其最新发布的《企业AI合同数据库》中，Omdia记录了多项中国内地企业与云厂商之间的新合作案例，企业正通过部署预训练的即用 型模型及相关服务，加速其AI落地进程。2025年第一季度，阿里云在中国内地云服务市场中占据33%的份额，华为云为18%，腾讯云为 10%。 2025年第一季度，中国内地云基础设施服务市场持续加速发展。随着企业加快AI部署，云服务市场的潜力正不断释放。AI大模型对算力 的巨大需求，正在显著推动企业对基于云的GPU资源的依赖。 客户对AI的旺盛需求正在重塑云计算的应用方式。Canalys高级总监 Rachel Brindley 表示："AI正在全方位推动企业加速上云。一方面， 原本依赖本地数据中心的组织，正将 ...

Canalys （现并入Omdia） 将云基础设施服务定义为由第三方提供商托管，并通过互联网向用户提供的以下服务总和：裸金 属即服务（ BMaaS ）、基础设施即服务（ IaaS ）、平台即服务（ PaaS ）、容器即服务（ CaaS ）以及无服务器（ Serverless ）服务。 Canalys Canalys（现并入Omdia）是全球领先的科技市场独立分析机构，以渠道为核心 。致力于引导客户 展望科技行业的未来，并协助客户打造具有创新思维的商业模式。25年来，我们一直为全球科技厂商提高全球高度及本地视 角的市场分析及定制解决方案，我们的分析师作为各自领域的专家，把市场知识和客户要求相结合，为其打造定制化的研究 产品。 我们的研究涵盖新兴技术、企业技术、移动技术和智能技术。 渠道的深度理解是我们工作的基 石。我们通过专业的报告、数据和预测，为客户提供战略决策支持。同时，我们论坛和Candefero在线社区为渠道伙伴提供 了宝贵的互动与反馈平台。我们始终以高精度及高质量的数据、创新的技术运用和优质的客户服务为立足之本，赢得客户的 信任与认可。 Canalys （现并入 Omdia ）的最新数据， 2025 ...

Group 1 - The rapid development of large model technology has made intelligent agents a key focus for AI development institutions, with companies like Tencent, Baidu, and JD increasing their investments in this area [2][3] - Intelligent agents possess autonomous decision-making capabilities, allowing them to perceive environments, plan tasks, and execute them independently, thus acting as assistants to large models [3][5] - Tencent's internal use of its coding intelligent agent has led to a 40% reduction in overall coding time, with AI-generated code accounting for over 40% of the total, significantly enhancing development efficiency [4] Group 2 - The collaboration between traditional industries and intelligent agents is evident, as seen in the partnership between State Grid and Baidu to create a marketing power supply solution intelligent agent [4] - The evolution of intelligent agents has led to enhanced capabilities in self-planning and tool invocation, allowing them to handle complex tasks more effectively [6] - The introduction of the Model Context Protocol (MCP) has facilitated cross-platform compatibility for intelligent agents, enabling them to operate across different application scenarios [6] Group 3 - Multi-agent collaboration is emerging as a new trend in intelligent agent technology, allowing for the division of labor to tackle more complex tasks [7] - Tencent's intelligent agent development platform has introduced a zero-code configuration feature for multi-agent collaboration, reducing the barriers to building intelligent agents [7] - The focus on specific industry scenarios is becoming more pronounced, with companies aiming to integrate intelligent agents into existing business processes to meet real-world needs [8][9]

Core Insights - The era of AI agents is emerging, with a significant shift in technology and business models driven by these agents, surpassing even the popularity of large models [1][9] - HuiZhi Intelligence has positioned itself as a pioneer in the AI agent field, integrating large models with AI agents since late 2022, and emphasizing the necessity of AI agents for everyone in the near future [1][3] Industry Developments - HuiZhi Intelligence has transformed from a "pioneer" to a "leader" in just two years, focusing on real-world applications rather than laboratory parameters [3] - The company is launching the Agent Cloud Intelligent Agent Service Platform in February 2024, which aims to redefine the implementation of AI agents by addressing the customization and iteration challenges faced by businesses [5] Ecosystem Initiatives - To further integrate AI technology with industry scenarios, HuiZhi Intelligence is initiating the AI Agent Master Plan in June 2025, with an investment of over 10 million yuan to build an open and collaborative ecosystem [7] - The plan aims to empower various industry practitioners and create a comprehensive AI agent ecosystem that focuses on value creation and innovation [7][9] Market Strategy - HuiZhi Intelligence plans to incubate 100 benchmark scenarios and cultivate thousands of master teams in the second half of this year, aiming to establish a network of AI applications covering millions of enterprises [7] - The company emphasizes a collaborative approach, inviting entrepreneurs, developers, and industry professionals to join the AI Agent Master Plan to accelerate the commercialization of AI technology [9]

Core Viewpoint - The collaboration between Jiangsu Huizhi Intelligent Digital Technology Co., Ltd. and Hangzhou Dihun Network Technology Co., Ltd. aims to leverage Huizhi's strengths in AI large models and intelligent agent technology to develop an AI intelligent agent scheduling platform through the newly established Hangzhou Hunyue Technology Co., Ltd. [1] Group 1: Company Strengths and Innovations - Huizhi Intelligent has developed the CarrotAI large model, which has achieved industry-leading levels in natural language processing, multimodal interaction, and continuous learning [1] - The proprietary "Digital Life" technology of Huizhi Intelligent overcomes traditional AI memory limitations, enabling intelligent agents to have long-term memory, knowledge inheritance, and continuous evolution capabilities, providing a unique competitive advantage in the industry [1] - The company has established a comprehensive product matrix in the intelligent agent technology sector, serving over 10 million C-end users and becoming one of the largest intelligent agent creation platforms in China [1] Group 2: Industry Applications and Ecosystem Development - Huizhi Intelligent has accumulated rich application experience across various vertical industries, including government governance, enterprise services, education and training, and cultural tourism e-commerce [3] - The company's innovative "technology-driven + scenario landing + ecological co-construction" model effectively transforms technical value into commercial value, laying a solid foundation for the rapid development of joint ventures like Hunyue Technology [3] - Huizhi Intelligent has launched an intelligent agent ecosystem initiative, planning to invest over 10 million in strategic funds to build an open, collaborative, and symbiotic ecosystem, aiming to empower practitioners across various industries [3] Group 3: Future Goals and Vision - The company aims to incubate 100 benchmark scenarios and cultivate thousands of ecosystem leaders in the second half of this year, building an intelligent agent application network covering millions of enterprises [4] - This initiative represents a revolutionary shift in industrial collaboration, making AI a tangible productivity tool accessible to all industry practitioners, aligning with Huizhi Intelligent's vision of "serving thousands of industries with intelligent agents" [4]

5月30日，农夫铺子发展集团有限公司与京东科技集团在京东集团全球总部正式签署战略合作协议。双方将依托各自在数字技术、产业资源及生态布局领域 的优势，围绕中小微企业数智化转型、云供应链、科技赋能及乡村振兴等共同探索与践行创新合作模式，为实体经济高质量发展注入新动能。 农夫铺子集团董事会主席兼CE0袁道红率核心管理团队出席签约仪式，包括副董事长兼总经理李林祥，技术开发运营部总裁袁野，腾翼云软件事业部总裁周 龙飞，线上业务生态服务中心总裁许青峰，品牌运营部总裁韩宇，集团运营商服务中心总裁刘洋，数智创业就业事业群副总裁张文双等高管及农夫铺子各区 域代表。 京东集团SEC委员、京东科技集团总裁徐丰携京东科技高管团队参会，京东科技集团副总裁、大客户部总经理戢凡峰，京东云Iaas产品部交付负责人崔扬等 共同出席，见证合作启动。 作为中国领先的以供应链为基础的技术与服务企业，京东集团始终站在数字经济发展的最前沿。依托强大的数智化基础设施和创新能力，京东构建了覆盖零 售、物流、科技、健康等多领域的产业生态体系。在人工智能、大数据、云计算等前沿技术领域，京东云已成为中国领先的云计算服务商，为超过百万家企 业提供稳定可靠的数字化服 ...

Equity – Asia Research 本研究报告由海通国际分销，海通国际是由海通国际研究有限公司，海通证券印度私人有限公司，海通国际株式会社和海通国际证券集团其他各成员单位的证券 研究团队所组成的全球品牌，海通国际证券集团各成员分别在其许可的司法管辖区内从事证券活动。关于海通国际的分析师证明，重要披露声明和免责声明，请 参阅附录。(Please see appendix for English translation of the disclaimer) 消费周期与AI叙事下的中国互联网投资新范式 A New Paradigm for China Internet Investment in the Era of Consumption Cycles and AI Narratives 曹蕾娜Leina Cao ln.cao@htisec.com 胡佳璐Rebecca Hu rebecca.jl.hu@htisec.com 4 Jun 2025 投资要点 2 • 板块观点：下半年继续看好恒生科技。今年以来中国资产重估叙事发酵，港股继续震荡上行，不过估值仍然不算高。展望未来，短期中美贸易谈判仍有 较大不 ...