"想跟老友吃个川菜喝个酒？那我去大众点评看看附近哪家适合。" 生活中无数个需要为"吃喝玩乐"决策做参考的瞬间，很多用户都会想到大众点评，打开App搜索就可以 得到店铺营业时间、地址、是否有停车位、环境如何等信息，"种草"或者"拔草"顷刻间完成。 看似简单的客观信息供给，却是靠一场场硬仗积累而来。11月5日，大众点评宣布，未来5年将追加至少 30亿资金，升级"本地生活信息基建"。 用真金白银追求信息真实，大众点评这一举动道出了本地生活行业发展的本质：准确及时反映物理世界 信息，是业务发展的基础。 用户的真实需要 日常生活中，这样的吐槽并不陌生："看到开业兴冲冲跑去，结果到了才被告知试营业期间需要提前预 约才能进，白白浪费了两个小时。" 这也反映出，准确及时反映物理世界信息，是本地生活领域的"信息基建"，是"真实"的基础保障。也因 此， 在本地生活服务领域，构建最深、最稳固护城河的核心，在于平台能否持续、准确、及时地映射 线下的物理世界。只有做到持续、精准、真实地映射线下的物理世界，才能在第一步留住用户，形成心 智，再而形成本地生活平台运作的正向循环。 此外，「客观」信息不仅是用户决策的基础，也是AI大模型决策的 ...

"想跟老友吃个川菜喝个酒？那我去大众点评看看附近哪家适合。" 生活中无数个需要为"吃喝玩乐"决策做参考的瞬间，很多用户都会想到大众点评，打开 App 搜索就可以得到店铺营业时间、地址、是否有停车 位、环境如何等信息，"种草"或者"拔草"顷刻间完成。 看似简单的客观信息供给，却是靠一场场硬仗积累而来。 11 月 5 日，大众点评宣布，未来 5 年将追加至少 30 亿资金，升级 " 本地生活信息 基建 " 。 用真金白银追求信息真实，大众点评这一举动道出了本地生活行业发展的本质：准确及时反映物理世界信息，是业务发展的基础。 | 用户的真实需要 | | --- | | 日常生活中，这样的吐槽并不陌生："看到开业兴冲冲跑去，结果到了才被告知试营业期间需要提前预约才能进，白白浪费了两个小时。" | 类似不良体验的根源在于，没有获得全面真实的信息。在大数据时代，碎片化、片面化的种草信息让不少用户有"上当"之感。上述用户的经历 时有发生，真实全面的信息仍是用户体验中最基础的一环。 自美团提出本地生活概念以来，本地生活赛道一直是消费届的焦点。 平台如何打造出自己的护城河？一直众说纷纭。本地生活的范围很大，服务包罗万象。但是核 ...

Core Viewpoint - The influx of mainland capital into the Hong Kong stock market has accelerated in 2025, with a net buying amount of 1.09 trillion HKD by September 15, surpassing the total for the entire year of 2024, indicating a significant shift in market dynamics and pricing logic towards a new era of domestic pricing in Hong Kong stocks [2][3][4]. Group 1: Capital Inflow Dynamics - As of September 15, 2025, the net buying amount of southbound funds reached 1.09 trillion HKD, exceeding the total net buying amounts from 2020 to 2024, which were 672.125 billion HKD, 454.396 billion HKD, 386.291 billion HKD, 318.842 billion HKD, and 807.869 billion HKD respectively [3]. - The continuous inflow of southbound funds is reshaping the pricing logic and ecological structure of the Hong Kong stock market, leading to a liquidity boom driven by these funds [3][4]. Group 2: Investment Focus and Trends - The primary focus of the inflow is on high-growth sectors such as innovative pharmaceuticals and technology, with significant interest in leading internet companies like Alibaba, Meituan, and Tencent [2][5]. - By September 15, 2025, southbound funds had net purchases of over 130 billion HKD in Alibaba, more than 50 billion HKD in Meituan, and approximately 25 billion HKD in Tencent, highlighting strong investor confidence in these companies [5][6]. Group 3: Market Outlook - Multiple institutions express optimism about the future of the Hong Kong stock market, suggesting that liquidity easing and improving corporate earnings will support a structural market rally, particularly in technology and finance sectors [7][8]. - The potential for a U.S. interest rate cut could further enhance the attractiveness of the Hong Kong market, allowing it to capture more international capital seeking higher-risk assets [7][8].