Market Performance - The Hang Seng Index closed at 25,270, down 0.98% for the day but up 25.97% year-to-date [1] - The Hang Seng Tech Index closed at 5,543, down 0.59% for the day and up 24.06% year-to-date [1] - The Shanghai Composite Index rose by 0.83% to close at 3,696, with a year-to-date increase of 10.29% [1] Currency and Commodity Trends - The Renminbi Index is at 96.040, showing a 0.78% increase over the last month but a 4.49% decrease over the last six months [2] - Brent crude oil is priced at $66.210 per barrel, down 2.36% over the last month and down 8.75% over the last six months [2] - Gold is priced at $3,340.21 per ounce, reflecting a 0.51% increase over the last month and a 15.36% increase over the last six months [2] Company Developments - Zhongshou Games has formed a strategic partnership with OSL Group to integrate compliant virtual asset financial infrastructure with its global IP gaming ecosystem, aiming to promote a compliant stablecoin ecosystem [11] - Tencent Cloud has launched the CloudBase AI CLI, which can reduce coding time by 80% by allowing developers to manage AI tools through natural language commands [12] - Keling AI has introduced a new feature in its 2.1 model that enhances video generation capabilities, allowing for smoother transitions and better semantic understanding [13] - Reading Group has entered a strategic cooperation plan with Tencent's "Honor of Kings" to explore collaboration in the national creative content sector [14] Economic Indicators - The U.S. saw a net capital inflow of $77.8 billion in June, marking the second consecutive month of net inflows [15] - U.S. import prices rose by 0.4% in July, the largest increase in 15 months, while export prices met expectations [16] - U.S. Senate members are urging a reconsideration of policies allowing Nvidia and AMD to export AI semiconductor chips to China, citing national security concerns [17][18]

责任编辑：郭栩彤 新浪科技讯 8月15日午间消息，可灵2.1模型开启全新首尾帧功能的内测。 据悉，本次升级带来了显著的效果提升：更加流畅的"电影级"运镜控制、丝滑自然的转场效果以及精准 的复杂语义理解。用户可以通过自定义首尾帧图像，生成连贯且高质量的视频内容，有效克服了AI视 频生成中的转场生硬、文本响应不足等痛点问题。全新首尾帧功能，还进一步提升了视频的一致性和稳 定性，尤其适用于产品宣传片、AI电影、AI短剧等专业创作场景。 ...

8月15日，快手旗下的可灵2.1模型开启全新首尾帧功能内测。据悉，本次升级带来了显著的效果提升： 更加流畅的"电影级"运镜控制、丝滑自然的转场效果以及精准的复杂语义理解。用户可以通过自定义首 尾帧图像，生成连贯且高质量的视频内容，有效克服了AI视频生成中的转场生硬、文本响应不足等痛 点问题。全新首尾帧功能还进一步提升了视频的一致性和稳定性，尤其适用于产品宣传片、AI电影、 AI短剧等专业创作场景。 ...

Core Viewpoint - The report from CITIC Securities indicates that the revenue of Keling has exceeded 1 billion yuan in April and May, with an average monthly revenue of 0.5 billion yuan in the first quarter. The annualized revenue has surpassed 100 million USD, and with significant month-on-month growth, the total revenue for the year is expected to exceed the company's latest guidance of 100 million USD [1] Group 1 - Keling's new revenue model and scenarios are expected to accelerate commercialization [1] - The recent collaboration with "逆水寒" (Nishuihan) introduces animated graphics gameplay into the game, aligning the pricing with the official website [1] - Previously, Keling was primarily focused on B-end scenarios such as advertising material production and short drama production, while the gaming application can enhance C-end user creativity and increase payment potential [1] Group 2 - The updated 2.1 model has reduced the entry price by over 65% compared to the 2.0 model, improving cost-effectiveness and lowering the usage threshold [1]

Core Insights - Kling AI, a subsidiary of Kuaishou, launched a user co-created AI creative short film that was showcased on giant screens at five global landmarks from June 2 to June 8 [1][2] - The initiative attracted over 2,000 submissions from creators across more than 60 countries, including teachers, advertising designers, and digital artists [2] - The event coincided with the one-year anniversary of Kling AI, which has surpassed 22 million global users and generated over 168 million videos and 344 million images [2][10] User Engagement and Market Position - Kling AI's user base has grown significantly, with a 25-fold increase in monthly active users projected from June 2024 to April 2025 [2] - In the generative video sector, Kling AI holds approximately 30% market share, outperforming competitors like Runway and Google Veo2 [4] - The platform has undergone over 20 major updates since its launch, enhancing dynamic quality, semantic understanding, and visual aesthetics [5] Ecosystem Development - Kling AI is actively linking with professional fields through initiatives like the "AIGC Director Co-Creation Plan" and the "NextGen New Image Investment Plan," which aims to support AI creators in film, advertising, and gaming [6] - The showcased works reflect diverse cultural expressions, including Japanese anime and Eastern aesthetics, promoting cross-cultural dialogue through creative storytelling [8] Industry Trends - The rise of platforms like Kling AI is accelerating the era of "全民AI创作" (universal AI creation), enabling ordinary individuals to become potential directors [10] - The ongoing exhibition at the five landmarks allows global audiences to view user-generated content both on-site and through the Kling AI platform [10]