值得买科技AI研究员张立飞介绍，ACP是"对话即购物"的底层技术标准，也是连接AI能力与商业价值的 关键基础设施，并将在AI时代创造无限新机遇。 新浪科技讯 11月26日晚间消息，值得买科技11月AI进展分享会上，值得买科技CTO王云峰介绍，"海 纳"MCP Server合作伙伴数量破40家，11月对外输出量破1亿，在具体场景中还助力荣耀YOYO实现定向 优惠券发放、自动领券及全网比价功能。AI购物管家"张大妈"不仅实现了活跃用户环比增长8倍、平均 次留环比增长24%，还通过A2A协议入驻华为小艺智能体中心。此外，核心产品"什么值得买"11月 AIGC阅读时长占比相比去年同期提升4倍。 今年10月，值得买科技与微盟达成战略合作，将自身消费数据服务能力与微盟SaaS商业操作系统深度融 合，率先在国内建设AI电商交易闭环。在11月的分享会上，王云峰也透露，在与微盟合作基础上，将 进一步与支付宝合作探索AI支付服务，构建起"AI智能体、用户、商家与支付平台"协作交易闭环。 据悉，"海纳"ACP将率先在"张大妈"App中实现场景落地，实现用户从"对话-推荐-下单-支付"的全流程 无缝衔接，并形成AI电商的可验证样本。 ...

Core Viewpoint - The company "值得买科技" is undergoing a significant transformation towards AI-driven digital consumption services, leading to a revaluation of its market value, as evidenced by a strong stock performance on November 13, with a closing price of 40.44 yuan and a 20% increase in share price [3][15]. Company Overview - Founded in 2011, "值得买科技" has evolved from a personal blog into a leading digital consumption service group in China, aiming to enhance the connection efficiency between B-end (e-commerce platforms/brands) and C-end (consumers) [4][6]. Business Segments - The company has established three core business segments: 1. **Consumer Content**: Centered around the community "什么值得买," which shares high-quality products and services through various media formats [5]. 2. **Intelligent Marketing**: Provides full-link services and operational support for e-commerce platforms and brands through subsidiaries [5]. 3. **Consumer Data**: Develops a multi-dimensional data system from its business operations, offering data products and services [5]. Strategic Development Phases - **2010-2015**: The company began with the first shopping sharing article in 2010 and officially established in 2011 [6]. - **2016-2019**: Completed a shareholding reform and went public on the Shenzhen Stock Exchange in July 2019, becoming the first listed company in the consumer content community [7][8]. - **2020-Present**: Focused on strategic upgrades, emphasizing AI and digital transformation, with a commitment to AIGC as a key strategic project [9][10]. Financial Performance - In 2022, the company reported revenue of 1.228 billion yuan and a net profit of 84.89 million yuan. By 2023, revenue increased to 1.452 billion yuan, a growth of 18.17%, while net profit decreased to 74.78 million yuan, a decline of 11.92% [13]. - Projected revenue for 2024 is 1.518 billion yuan, with a slight increase in net profit to 75.24 million yuan [14]. - In the first half of 2025, revenue was 580 million yuan, a decline of 18.7%, but net profit increased by 65.7% to 12.69 million yuan, indicating improved operational quality [15]. Market Dynamics - The rise in AI-related interest, particularly driven by Alibaba's initiatives, has significantly influenced the company's market performance. The partnership with Alibaba enhances its promotional capabilities [17]. - The company reported AI-related revenue of 132 million yuan in the first three quarters of 2025, indicating a successful integration of AI into its business model [17]. - The performance during the Double 11 shopping festival showed strong growth in key product categories, with significant year-on-year increases [17]. AI Transformation - The "海纳"MCP Server has become a foundational infrastructure for consumption decision-making in the AI ecosystem, with content output exceeding 8.22 million times by June 2025, reflecting an 81.73% increase [18][19]. - The company is positioned to lead in the new generation of consumer decision-making channels as AI applications become more prevalent, leveraging its extensive database and AI technology [19].

Core Insights - The company has significantly improved its gross margin by 3.36 percentage points to 49.52% in the first three quarters compared to the same period in 2024 [1] - AI-related revenue reached 32.29 million yuan in the first three quarters [1] - Sales and management expenses decreased by 20.08% and 14.5% year-on-year, respectively [1] Product Developments - The company introduced the second-generation product "What is Worth Buying" for C-end users [1] - A new generation consumer intelligence product named "Zhang Dama" was launched [1] - The "Zhishu" full-domain content insight platform was developed for B-end clients [1] - The "Haina" MCP Server was created for the AI ecosystem [1] Industry Collaboration - The company showcased its extensive practices in AI industry collaboration and ecosystem building through discussions with industry guests from Zhipu and Renmin University Gaoling Academy [1]

Summary of the Conference Call for ZhiDeMai Technology Company Overview - **Company**: ZhiDeMai Technology - **Industry**: E-commerce and AI technology Key Points and Arguments Financial Performance - In the first three quarters of 2025, ZhiDeMai achieved revenue of 806 million yuan, with a net profit attributable to shareholders of 13.45 million yuan, representing a year-on-year increase of 253.49% [3][27] - Despite a decline in revenue due to strategic contraction of low-margin businesses, the overall gross margin improved by 3.36 percentage points to 49.52% [2][3] - Sales and management expenses decreased by 20.08% and 14.50% year-on-year, respectively, indicating significant operational efficiency improvements [2][3] AI Investments and Developments - The company has strategically shifted focus to AI, launching new consumer-facing apps and developing AI platforms for business clients [2][4] - AI-related revenue reached 32.22 million yuan in the first three quarters, accounting for less than 5% of total revenue [5][8] - The company defines new revenue from pure AI technology as "AI Plus," which is expected to grow significantly, potentially reaching 80%-90% of total revenue in the future [2][9] Strategic Partnerships - ZhiDeMai has formed strategic partnerships with Huawei and Weimeng Group to advance AI ecosystem development [5][6] - Collaborations include the integration of ZhiDeMai's AI products into Huawei's SaaS platform and the development of middleware infrastructure for the industry [6][8] Future Business Plans - The company plans to enhance its e-commerce ecosystem by collaborating with SaaS infrastructure providers like Weimeng [7][8] - ZhiDeMai aims to penetrate various platforms to connect with numerous small and medium brands, similar to the OpenAI-Shopify model [7][8] - The company anticipates a narrowing revenue decline to within 10% for the year, with profit growth projected at 30%-50% due to seasonal demand and new AI-driven business models [4][27] Product Development and User Engagement - The newly launched Zhang DaMa app has shown strong user engagement, with over 100,000 monthly active users [16][18] - The app focuses on enhancing user experience and is expected to explore monetization through subscription models and premium services in the future [17][19] Market Position and Competitive Advantages - ZhiDeMai's AIUC engine provides a competitive edge in social media sentiment analysis, allowing for more precise insights compared to traditional methods [20][21] - The company is positioned to leverage its unique data and content capabilities to collaborate with larger platforms rather than compete directly [31] International Expansion - ZhiDeMai plans to expand its AI monitoring products and insights platform into Southeast Asia and Europe, aiming for profitability within 12 months in each new market [22][23] Challenges and Solutions - The company acknowledges challenges in data processing and response speed for its AI products, which are being addressed through optimization efforts [28][29] - Continuous improvement in product performance and user experience is a priority to meet growing user demands [29][30] Additional Important Insights - The company is optimistic about its future, expecting AI-driven revenue growth to significantly enhance overall performance [34] - ZhiDeMai's strategic focus on AI and partnerships is seen as a pathway to becoming a benchmark enterprise in global AI applications [34]

Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, with revenue reaching 805.99 million yuan and net profit of 13.45 million yuan, marking a year-on-year growth of 253.49% [1] Group 1: Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 805.99 million yuan and a net profit attributable to shareholders of 13.45 million yuan, reflecting a substantial year-on-year increase of 253.49% [1] - The company disclosed AI-related revenue for the first time, amounting to 32.29 million yuan, which includes income from AI products, AI functionalities in related products, and services provided using self-developed or third-party AI tools [1] Group 2: AI Strategy and Development - Since 2023, the company has increased its investment in AI foundational technologies and product applications, establishing an AI product matrix consisting of "1 large model, 2 databases, 3 engines, and 4 types of applications" [1] - The company officially launched its "comprehensive AI" strategy in 2024 and has been implementing it further in 2025, including the release of the second-generation "What is Worth Buying" product in May 2025 and the independent app "Zhang Dama" in September 2025 [1] Group 3: B-end Services and Partnerships - In July 2025, the company developed the "Zhi Shu" AI full-domain content insight platform, and its subsidiaries have integrated AI into merchant matching and content marketing [2] - The company launched the standardized consumer data service capability platform "Hai Na" MCP Server in May 2025 and established strategic partnerships with Weimeng Group and Huawei, upgrading the latter from a "comprehensive partner" to a "strategic partner" [2] - By September 2025, the company reported a monthly consumption of 108.38 billion tokens for third-party large model APIs, a 47.19% increase from June, and the monthly output of the "Hai Na" MCP Server exceeded 20.87 million, up 153.89% from June [2]

Group 1 - The core viewpoint of the articles is that Weimob Group and Zhidema Technology have formed a strategic partnership to explore a new path for "AI e-commerce" in China, enabling consumers to receive AI shopping recommendations and complete purchases without switching platforms [1][2] - Weimob's President, You Fengchun, emphasized that AI is reshaping digital commerce, and the collaboration aims to create an innovative model that integrates professional consumer content, AI recommendations, and transaction conversion [1][2] - Zhidema's CEO, Sui Guodong, stated that AI is becoming a new entry point for consumer decision-making, fundamentally reconstructing consumption logic and enhancing the commercial value of AI e-commerce [1][2] Group 2 - The partnership will establish an AI e-commerce shopping and transaction ecosystem, leveraging Zhidema's "Haina MCP Server" for consumer data services and Weimob's extensive product information and SaaS technology [2][3] - A practical AI e-commerce shopping case will be developed on Zhidema's "Zhang Dama" app, allowing users to experience a seamless shopping process from discovery to payment through AI-driven recommendations [2][3] - This collaboration aims to eliminate the traditional "search-compare-jump" model, enabling a "discovery-to-purchase" experience through conversational interactions with AI agents [2][3] Group 3 - Zhidema's "Haina MCP Server" is a standardized consumer data service platform that enhances AI capabilities and has seen a 54% increase in output volume, reaching 20 million by August 2025 [3] - Weimob has a strong digital commerce technology foundation and extensive resources, having provided numerous applications and services to merchants across various industries for over a decade [3] - The strategic cooperation agreement outlines future collaboration opportunities in the AI e-commerce sector, focusing on leveraging each company's strengths and exploring additional cooperative dimensions [3][4] Group 4 - A recent trend in the industry includes a strategic partnership between OpenAI and Shopify, aiming to create a similar "discovery-to-purchase" AI e-commerce shopping loop [4]

Group 1 - The 2025 Yunqi Conference was held in Hangzhou from September 24 to 26, showcasing AI innovations in the consumer sector, with ZhiDeMai Technology presenting its C-end product "Zhang Da Ma" App and the B-end AI infrastructure "Haina" MCP Server [1][3] - The conference, hosted by Alibaba Group, attracted over 2,000 experts and more than 500 participating companies, unveiling over 300 AI terminal products and 200 intelligent agents, highlighting advancements in cloud computing and AI [3] - ZhiDeMai Technology has prioritized AI since 2023, focusing on AIGC as a key strategic project, and has begun innovative explorations in AI technology, applications, and ecosystem development [3] Group 2 - The "Haina" MCP Server, launched in May, integrates the company's advantages in consumer content and data, providing standardized consumption data service capabilities and adapting to large model applications [4] - The "Haina" MCP Server has multiple interfaces for content and product searches, helping users find discount information, product evaluations, and price comparisons, with an output volume of 20 million in August, a 54% month-over-month increase [4] - The server has connected with external platforms like Alibaba Cloud's Bailian platform, supporting broader AI applications and accelerating the construction of a consumer-focused AI ecosystem [4] Group 3 - ZhiDeMai Technology aims to pursue a comprehensive AI strategy, continuously exploring "AI + consumption" innovations and collaborating with partners to build a high-quality AI ecosystem [5] - The company seeks to enhance the efficiency and quality of connections between supply and demand, creating a better world where everyone benefits from consumption [5]

Group 1 - The core viewpoint of the news is that Zhidingmai Technology Group is deepening collaborations with Huawei and Hangban Guanjia in AI infrastructure and ecosystem development, achieving multiple advancements in AI application acceleration and industry empowerment [1][2] - Zhidingmai Technology's CTO Wang Yunfeng highlighted that the company has made significant progress with Huawei over the past year, leading to a multi-dimensional win-win situation for both parties [1] - The "Haina" MCP Server, an intelligent capability enhancement platform in the consumer sector, has been integrated into Huawei's Xiaoyi, showcasing deep integration of AI capabilities with terminal products [1] Group 2 - The collaboration with Huawei Cloud will focus on strengthening and expanding cooperation in public cloud infrastructure and exploring joint innovations in artificial intelligence and large models [2] - Zhidingmai Technology will provide high-quality traffic and marketing services for various Huawei products, enhancing marketing collaboration [2] - The partnership with Hangban Guanjia aims to improve the flight booking functionality of the "Zhang Dama" app by leveraging insights into user travel pain points and industry scenarios, complementing Zhidingmai Technology's strengths in natural language understanding and multi-turn dialogue [2]

Group 1 - The core viewpoint of the article highlights the significant growth of the "Haina" MCP Server, which achieved 20 million external service calls in August, representing a 54% month-on-month increase [2] - The integration of AI into various industries is accelerating, but challenges such as data silos, inconsistent data quality, and lack of standards remain [2] - The CTO of the company emphasizes the need for a shift from isolated technological breakthroughs to ecosystem collaboration and standard co-construction to build an interconnected AI ecosystem [2] Group 2 - The exploration of "AI + consumption" is seen as a microcosm of promoting inclusive development in commercial services, with AI applications driving industry advancements [3] - The company has evolved its service capabilities from focusing on consumer content to a comprehensive AI strategy that enhances consumer content, smart marketing, and data services [3] - The ongoing participation in trade fairs reflects the company's commitment to upgrading its consumption service capabilities and enhancing user experience while empowering industry upgrades [3]

Group 1 - The 2025 China International Service Trade Fair (CIFTIS) was held in Beijing, showcasing the latest achievements in the service sector and providing a platform for policy exchange and trade cooperation [1] - The CTO of ZhiDeMai shared insights on the impact of AI on service trade and the importance of ecological collaboration and standardization during a roundtable forum [2][4] - ZhiDeMai has participated in CIFTIS for the seventh time, emphasizing its role as a member of the Global Service Trade Alliance [1] Group 2 - AI is accelerating its penetration across various industries, serving as a key driver for digital transformation and intelligent upgrades, but faces challenges such as data silos and inconsistent data quality [2] - The company has launched a series of AI products, including consumer-oriented shopping agents and marketing insight platforms, to enhance consumer services [3] - The "HaiNa" MCP Server, launched in May, provides standardized consumption data services and has seen a 54% increase in external service call volume in August, reaching 20 million [3] Group 3 - ZhiDeMai is committed to driving consumption progress through technology and has opened its capabilities to partners in the AI ecosystem to better serve consumers [3] - The company aims to create a more inclusive consumption ecosystem by promoting efficient connections between B-end and C-end services through AI [4] - ZhiDeMai's ongoing participation in CIFTIS reflects its continuous efforts to enhance its consumption service capabilities and contribute to the integration of consumption and service trade [4]