谈起香港支持金融科技发展的政策环境，胡利明在接受记者采访时表示，香港在监管沙盒方面做得非常 好，有很多新场景的大胆试点和探索落地。他表示，希望未来香港继续支持在沙盒方面更多场景的应用 试点，提供相关科技创新平台，以促进金融机构和科技公司的交流和重点场景的合作，更好地衔接技术 和金融机构。 腾讯云副总经理蒋渝说，香港是文化和技术交融的地方。一方面，香港是中国内地科技对外展示的窗 口；另一方面，新兴技术可以在香港优先尝试，为内地业态提供很好的参考。"香港作为中西方的桥 梁，对于内地看海外技术的应用和海外了解内地技术的应用都是很重要的。" 新华财经香港11月5日电（记者林迎楠） "香港金融科技周及StartmeupHK创业节2025"11月3日至7日在 香港会议展览中心举行，700多家参展机构及超过30个代表团参与，创新技术与产品亮相引人瞩目。 香港特区行政长官李家超致辞表示，香港正加速推进创新与科技转型，重点关注人工智能、生命健康、 新能源和航空航天等关键领域。在金融科技领域，香港金融管理局的"项目组合"正在探索传统金融领域 的代币化，同时运用监管沙盒机制，在审慎的风险管理下促进创新。 今年9月的《全球金融中心指 ...

Industry Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Insights - The report highlights Tencent's dual efficiency engines of "Intelligentization" and "Globalization" as key strategies for growth, with a focus on AI capabilities and international market expansion [4][6] - Tencent's AI development platform has seen significant enhancements, with nearly 600 new features added, enabling users without programming experience to create AI products [5] - The report emphasizes Tencent Cloud's robust growth in international business, with a doubling of overseas customer numbers over the past three years, indicating strong demand for its services [4] Summary by Sections Industry Overview - The closing index level is 5617.07, with a 52-week high of 5841.52 and a low of 2855.49 [1] Recent Developments - Tencent has launched its "Intelligent Agent Strategy" and is enhancing its AI capabilities across various business sectors, including advertising and gaming, leading to significant revenue growth [5][6] - The AI capabilities are integrated into Tencent's advertising business, resulting in a 20% increase in marketing service revenue in Q2 [5] Investment Recommendations - The report suggests focusing on companies involved in AI agents and domestic computing power, listing several key players in these sectors [8]

Core Insights - Tencent is fully opening its AI capabilities, viewing it as a core engine for driving industrial efficiency transformation [1] - The company aims to shift from scale expansion to efficiency competition in response to rising costs and profit pressures [1][8] AI Implementation Acceleration - Tencent is accelerating the transition of AI from a technical concept to a practical productivity tool, using its vast business as the first testing ground [2] - The company has launched the "Agent Runtime" solution, which supports rapid startup times and high concurrency for AI applications [2] Shift in AI Demand - The industry is witnessing a shift from AI training to AI inference, with a significant increase in demand for inference computing power expected by 2025 [3] - Tencent's AI-native application "Tencent IMA" saw its monthly active users increase by 80 times in six months, indicating a surge in AI application usage [3] Model and Platform Development - Tencent's self-developed "Hunyuan" model has upgraded its modeling accuracy by three times, and the intelligent agent development platform has undergone nearly 600 feature iterations in three months [4] - Over 90% of Tencent's engineers are using the AI programming tool CodeBuddy, which has reduced coding time by over 40% [4] Globalization Efforts - Tencent is accelerating its internationalization process to support Chinese enterprises going global, with plans to invest $150 million in a data center in Saudi Arabia [6] - The company has successfully migrated multiple services of Indonesia's GoTo Group to Tencent Cloud, showcasing its migration capabilities [6][7] New Paradigm for Efficiency Growth - Tencent's dual focus on "intelligentization" and "globalization" aims to provide a technology-driven efficiency model for growth amid economic pressures [8] - Collaborations with companies like Huazhu Group and Midea Group demonstrate the effectiveness of Tencent's solutions in enhancing operational efficiency [8]