宏观动态： 2025 年 10 月 28 日 星期二 ➢ 每日大市点评 10 月 27 日，港股受到中美就贸易和 TikTok 等议题达成初步共识的利好，加上国内 A 股造好等因素，周一港股投资氛围 改善。恒生指数高开后全天维持在 26,000 点以上，下午收盘报 26,433 点，升 273 点（1.05%），大盘成交 2,671 亿元。 科技板块支撑大盘向好，恒生科技指数上升 111 点，收报 6,171 点。百度（9888 HK）大涨 6.5%。2025 年上半年，中国 全栈AI云服务市场规模达259亿元，其中阿里云以30.2%市场份额位居第一，百度智能云以22.5%的市场份额位居第二， 两家合计份额占比超 50%。阿里巴巴（9988 HK）和腾讯（700 HK）分别上涨约 3%。药明康德(2359 HK )第三季利润同比 提升 53%，股价上涨 4.1%。周一港股通净流入 28.7 亿。投资者对本轮中美贸易冲突担忧程度较 4 月时有所减轻，以及发 改委推动加快高科技自立自强，预计投资者短期对科技板块保持乐观态度。 美股方面，地缘政治危机暂时降温，中美贸易协议的乐观情绪刺激指数上涨。周一美股三大指数齐创 ...

Group 1: AI Cloud Market - In the first half of 2025, Alibaba Cloud holds the largest market share in China's AI cloud market at 30.2%, while Baidu Smart Cloud follows with 22.5%, together exceeding 50% market share [1] - The report indicates a "dual-hero" competition in the Chinese AI cloud service market, highlighting the strong technological innovation and market expansion capabilities of both Alibaba Cloud and Baidu Smart Cloud [1] - The significant market potential and development space for AI cloud services in China are reflected in the competitive landscape [1] Group 2: Investment in Technology - Huawei's Hubble and other investors have acquired stakes in Wuhan Heart Electric Technology Co., increasing its registered capital from 2 million RMB to approximately 2.4 million RMB [2] - The investment is expected to help Wuhan Heart Electric Technology expand its market and enhance its technological capabilities, aligning with Huawei's needs for high-performance materials in next-generation communication technologies [2] Group 3: Semiconductor Technology - A research team from Peking University has published a paper introducing cryo-electron tomography (Cryo-ET) technology to the semiconductor field, significantly improving the understanding of photoresist molecular structures [3] - The proposed solution from the research can achieve over 99% improvement in reducing pattern defects in lithography technology [3] - This advancement is seen as a motivation for domestic researchers and companies to increase investment in semiconductor technology development and innovation [3]

Core Viewpoint - Baidu Group's stock price increased by 6.5% to HKD 125.5, following the release of a report on China's full-stack AI cloud service market [1] Group 1: Market Overview - The report titled "China Full-Stack AI Cloud Service (Public Cloud) Market Report 2025H1" indicates that the market size for full-stack AI cloud services in China will reach RMB 25.9 billion in the first half of 2025 [1] - Alibaba Cloud holds the largest market share at 30.2%, while Baidu Smart Cloud ranks second with a 22.5% market share [1] - Together, Alibaba Cloud and Baidu Smart Cloud account for over 50% of the total market share in this sector [1]