开源证券指出，公司已建立起多维度产品矩阵、"1+N"投研体系和三位一体的流量运营体系，重视研发 投入、探索全方位AI赋能。该行认为公司规模效应已初步显现，短期高beta属性受益于资本市场活跃； 中长期"小单化"、"平台化"战略有望提高用户粘性，学习机销售态势良好，公司收购香港券商扩充国际 业务版图。 九方智投控股(09636)涨超6%，截至发稿，涨6.57%，报63.25港元，成交额3.62亿港元。 消息面上，1月6日，九方智投控股发布公告宣布已完成对JFFinancial(原名Yintech Financial)全部股权及 核心业务系统的收购。收购完成后，九方智投控股将持有JFFinancial及旗下核心附属公司方德证券、方 德资本的全部股权。湘财证券认为，公司作为第三方投顾机构，持续坚定"科技+投研"战略，凭借成熟 的投研体系、MCN流量精细化运营及优质内容服务形成了差异化的竞争优势。海外牌照的完善有助于 公司将成熟模式赋能于海外业务，丰富公司收入来源。 ...

智通财经APP获悉，九方智投控股(09636)涨超6%，截至发稿，涨6.57%，报63.25港元，成交额3.62亿港 元。 消息面上，1月6日，九方智投控股发布公告宣布已完成对JFFinancial（原名Yintech Financial）全部股权 及核心业务系统的收购。收购完成后，九方智投控股将持有JFFinancial及旗下核心附属公司方德证券、 方德资本的全部股权。湘财证券认为，公司作为第三方投顾机构，持续坚定"科技+投研"战略，凭借成 熟的投研体系、MCN流量精细化运营及优质内容服务形成了差异化的竞争优势。海外牌照的完善有助 于公司将成熟模式赋能于海外业务，丰富公司收入来源。 开源证券指出，公司已建立起多维度产品矩阵、"1+N"投研体系和三位一体的流量运营体系，重视研发 投入、探索全方位AI赋能。该行认为公司规模效应已初步显现，短期高beta属性受益于资本市场活跃； 中长期"小单化"、"平台化"战略有望提高用户粘性，学习机销售态势良好，公司收购香港券商扩充国际 业务版图。 ...

《证券日报》记者走访北京多地发现，元旦期间，AI技术正以更贴近生活的姿态融入娱乐、教育等场 景，从"尝鲜"阶段迈向"实用"领域，成为消费市场的新宠。 元旦假期，北辰荟购物中心的智能机器人4S店快闪店内熙熙攘攘，消费者簇拥在展示台前，与造型可 爱的机器狗、智能机器人展开趣味互动。孩子们蹲在地上，略显生涩地操控着机器狗完成翻滚、跳跃等 动作，家长们则纷纷举起手机，定格这些洋溢着节日快乐的精彩瞬间，这一幕，正是AI（人工智能） 技术加速场景落地的生动写照。 AI技术的普及，正推动消费电子产品不断迭代升级，记者注意到，除机器人销售门店外，越来越多的 门店也涌现出各类AI产品。如智能音箱升级为家庭健康管家，实时监测心率、提醒用药；AI摄像头能 识别老人跌倒并自动报警；传统家电嵌入语音交互功能，实现"动口不动手"的便捷操控。 "过去AI是高端产品的营销噱头，现在已成为基础配置。"在苏宁易购马连道店，海尔品牌负责人对记者 说："消费者更看重技术能否真正解决实际问题，比如通过AI节能算法降低电费，或用图像识别自动匹 配功能模式等。关键一点是，这些具有AI功能的产品价格并不高昂，甚至厂家还有专门优惠。"这种"技 术普惠"的趋势 ...

责任编辑：李靓 此次补贴政策范围覆盖汽车（报废、置换，政策二选一）、六类家电（冰箱、洗衣机、电视、空调、电 脑、热水器，一级能效或水效产品）、四类数码产品（手机、平板或学习机、智能手表或手环、智能眼 镜，单件售价≤6000元）。 全省补贴申报统一通过"甘快办"政务平台办理。登录"甘快办"App、微信或支付宝小程序；申领资格码 后，凭码在甘肃省内商家购买，系统自动核销并提交补贴申请。汽车报废补贴在核销资格码后，通过指 定平台上传资料申领。 转自：甘肃省商务厅 ...

理解用户是逃无可逃、永无止境的事。 作者 | 庞梦圆（上海） 监制 | 邵乐乐（上海） 上周的小红书Will商业大会上，小红书营销实验室负责人圣香提出：我们正在进入一个「感受优先的感性时代」。指的是，消费者决定是否为一件商品买 单、以及评价一笔消费是否值得时，正在越来越多受到纯粹实用之外的感性因素的影响，包括：情绪、审美、场景、感受。 圣香以他们观察到的消费行为举例： 比如，电子书写时代，仍有不少人买钢笔，但不是为了实用，而是为了「掌控感」，因为「写字的时候，感觉我在恢复感受力」； 以及不论在穿搭还是其他场景中，消费者越来越有意识地构建自己的审美与风格，会提出想要一套老钱风的穿搭，一个包豪斯风格的家； 在购买具体的商品时，也会更在意它是否匹配自己想要的场景，例如一个装修人士在挑选镜子和开关时，考虑的就不只是是否耐用、价格、大小，还包括 用这个镜子拍OOTD是否好看，这个开关是否匹配他法式风格的家； 消费者对于使用体验的反馈，也更多从亲身感受而非参数出发，比如评价一个学习机好不好用，不是产品经理关心的屏幕大不大，而是长期使用后眼睛是 否不舒服。 以上这些现象，与我们过去一年的消费观察有些共通之处。 理论层面，发 ...

(李超在活动现场演讲) 全栈AI能力重塑消费电子新体验 在大模型到来之前，消费电子更多依赖参数、功能、配置和价格构建壁垒;而在大模型时代，竞争焦点正在转向产 品是否"能听得懂需求""能完成任务""体验是否可持续"。这背后，对AI底层能力、工程化能力和量产能力都提出 了更高要求。 但不是每一家企业，都有能力从零搭建大模型和智能体体系。针对这一现实，百度智能云面向消费电子行业提供 从芯片、框架到平台的云智一体解决方案，构建面向量产的AI Infra+Agent Infra全栈AI基础设施。 转自 IT产业网 大模型正在成为消费电子的新增长引擎。 12月30日，在深圳举行的"大模型重塑消费电子新体验"行业活动上，百度智能云披露的一组数据显示：AI眼镜、 学习机、康养设备、情感陪伴类硬件等新交互形态产品的出货增速，显著高于传统消费电子，部分细分赛道年增 长率已超过30%;与此同时，搭载大模型能力的硬件产品，其平均售价(ASP)普遍提升10%—40%，用户为"体验升 级"而非"参数升级"付费的意愿正在增强。 但受困于体验落地差异性和商业转化的可持续性，当前不少消费电子产品在引入大模型后，体验并未明显改善， 反而陷入同质 ...

Core Insights - The article discusses the evolving role of children's smartwatches as platforms for digital social interaction among minors, highlighting their transition from basic functions like location tracking and calling to more complex social features [1][2][3] Group 1: Features and User Engagement - Children's smartwatches now include social modules that allow users to interact through likes, friend circles, and personal profiles, resembling social media platforms [1][2] - Users can create personal profiles, share photos and achievements, and engage in a competitive environment where the number of likes and friends determines social status [2][3] - The concept of "leveling up" through likes has created a hierarchy among users, with higher levels granting more likes per day, leading to a culture of social comparison [3][6] Group 2: Market Dynamics and Parental Concerns - There is a growing market for services that help users artificially inflate their likes and social status, with some students offering paid services for likes [6][7] - Parents express concerns about the impact of these social dynamics on their children, fearing that the competitive nature of likes and levels may lead to unhealthy behaviors [7][8] - The article notes that the recent removal of certain features by a smartwatch brand did not alleviate the dissatisfaction among young users, indicating a strong attachment to these social elements [7] Group 3: Regulatory Landscape - A new mandatory national standard for children's smartwatches is set to be implemented in 2027, which will address various aspects including network security, content safety, and addiction prevention [9][10] - The standard aims to regulate the content accessible to children, ensuring it promotes healthy online behavior and does not include harmful applications [9][10] - Experts emphasize the need for a comprehensive regulatory framework that encompasses various types of children's smart devices to ensure their safety and well-being [10]

快递连接千城百业、千家万户，是经济运行的"晴雨表"。透过三个镜头，让我们一起观察新纪录背后的 经济新气象。 广东深圳市民李先生下单智能学习机后，商品经由京东物流深圳小件智狼仓分拣出库。抵达末端站点 后，无人配送车进行货物接驳，随即由快递员送货上门，商品实现当日达。 高度无人化，流程耗时得以压缩。 走进智能仓库，搬运机器人、飞梯机器人在货架间来回穿梭；移步智能分拣中心，AI（人工智能）识 别系统助力快递分拣效能显著提升；行至网点，无人配送车与快递员协同配合，节省末端配送时间。 来源：人民日报 2023年，年内首次突破1200亿件大关；2024年，年内首次越过1500亿件门槛；2025年，年内首次创下 1800亿件纪录……连续3年，我国快递业务量一步一个脚印、不断跃上新高度。 镜头一：学习机，"无人"送 世界领先、履约高效的智能物流网络加快织就 第1800亿件快递采用无人配送新模式。 "大动脉"日益焕新，让运力更强劲。 1300多个自动化分拣中心有序运转、数千辆无人车投入运营、无人机配送快件量超300万件……物流园 区、快递网点与新一代信息技术深度融合，织就一张世界领先的智能化物流网络。 "微循环"加速迭代，让履 ...

Core Insights - Duan Yongping is recognized for his exceptional achievements in both industry and investment, having founded well-known brands like "Little Tyrant" and "BBK" while also making significant investments in companies like Apple and Tencent, earning him the title of "China's Buffett" [1][5] - H&H International Investment, the only management account publicly tracking Duan's investments through the U.S. 13F filings, has reached an AUM of $21.9 billion as of January 29, 2025 [1][8] Group 1: Entrepreneurial Journey - Duan Yongping was born in 1961 in a scholarly family and graduated from Zhejiang University, later working in various roles before venturing into business in Guangdong [2] - In 1989, he transformed a loss-making electronics factory into "Little Tyrant," achieving an annual output value of 1 billion yuan within four years [2][4] - In 1995, he founded BBK Electronics, which successfully launched products that met the modernization needs of Chinese families in the 1990s [4] Group 2: Investment Philosophy - Duan's investment philosophy is heavily influenced by the idea of "buying companies" rather than just stocks, emphasizing the importance of understanding a company's future cash flows [5][7] - He made a significant investment in NetEase during the dot-com bubble, purchasing shares at $0.6 and later selling them for over $70, yielding a return of over 100 times [5][10] Group 3: H&H Investment Strategy - H&H focuses on long-term stock investments and options strategies, relying on fundamental analysis to identify undervalued companies [8] - As of the third quarter of 2025, H&H's portfolio is valued at approximately $14.7 billion, with a concentration in 11 companies, including Apple, Berkshire Hathaway, and NVIDIA [8][11] Group 4: Recent Portfolio Adjustments - In the third quarter, Duan increased his stake in Berkshire Hathaway by over 53% while reducing his holdings in Alibaba and NVIDIA by more than 25% [11][12] - Apple remains the largest holding in H&H's portfolio, accounting for 60.42% of the total value, with a market value of approximately $8.87 billion [11][12] Group 5: Philanthropic Endeavors - Duan Yongping has made significant contributions to education, including a $40 million donation to Zhejiang University, which was the largest single donation to a mainland university at the time [13] - His philanthropic approach emphasizes long-term impact and efficiency, with a focus on sustainable charitable practices [16][18]

Group 1: Personal Growth - The importance of parental trust in childhood, which lays the foundation for rational decision-making [3][5] - Setting boundaries is crucial for providing children with a sense of security, which is essential for rationality [5][6] - The significance of leaving uncomfortable environments for better career choices [7][8] Group 2: Corporate Management - The lesson from Xiaobawang emphasizes the importance of trust and commitment in organizational culture [20] - The success of BBK is attributed to its focus on integrity and user-oriented culture [21][22] - The evolution of corporate culture is a continuous process influenced by experiences and lessons learned [23][24] Group 3: Investment Logic - The core principle of investing is to view stock purchases as buying into a company [40][41] - Understanding a company's business model and future cash flows is essential for successful investing [44][45] - Real-world examples, such as investments in NetEase, Apple, and Moutai, illustrate the importance of understanding company value and consumer recognition [48][69]