Core Insights - The article presents a weekly roundup of the top 50 keywords related to AI developments, highlighting significant trends and innovations in the industry [2]. Group 1: Chips - MediaTek's Dimensity 9500 is a notable chip in the AI landscape [3]. - The AI computing power competition is discussed, with insights from a16z and others [3]. - Qualcomm's Snapdragon series AI chips are also highlighted as key players in the market [3]. Group 2: Models - DeepSeek's V3.1 ultimate version is mentioned as a significant model advancement [3]. - Meituan's LongCat-Flash-Thinking model is introduced, showcasing its capabilities [3]. - Baidu's Qianfan-VL and Alibaba's Qwen3-Omni are also noted for their contributions to AI model development [3]. Group 3: Applications - Chrome's Gemini AI assistant is featured as a new application in the AI space [3]. - Notion 3.0 is highlighted for its innovative features [4]. - Tencent's Mixed Yuan 3D Studio and Alibaba's Wan2.2-Animate are also significant applications mentioned [4]. Group 4: Technology - Retro's "anti-aging brain drug" is noted as a breakthrough in AI technology [4]. - Arc Institute's AI-generated genome is another technological advancement discussed [4]. - Skild AI's robot control system is highlighted for its innovative approach [4]. Group 5: Investment and Events - NVIDIA's investment in OpenAI is a significant capital movement in the AI sector [4]. - MIT Technology Review's list of "35 Innovators Under 35" is mentioned, showcasing emerging talents in the field [4]. - OpenAI's Codex best practices are discussed, emphasizing the importance of effective AI usage [5].

Group 1 - The Hang Seng Index opened lower but rebounded, led by gains in the chip and internet sectors, with ASMPT rising over 6% and Alibaba-W and SMIC both increasing by over 3% [1] - The Hong Kong Technology 50 ETF (159750) rose by 0.68%, with over 60 million yuan in trading volume during the session, and a net inflow of approximately 250 million yuan over the past eight trading days [1] - Alibaba's CEO, Wu Yongming, introduced the concept of "super artificial intelligence" at the 2025 Yunqi Conference, emphasizing that the intelligence revolution will exceed expectations and will liberate human potential [1] Group 2 - Ark Investment Management, led by Cathie Wood, made its first investment in Alibaba and other Chinese tech stocks in four years, investing approximately 21 million USD in Chinese concept stocks, including over 16 million USD in Alibaba [2] - The Hong Kong internet sector is expected to recover after the mid-year earnings period, with reasonable valuations and high cost-performance in the growth sector, alongside anticipated breakthroughs in AI technology [2] - The Hong Kong Technology 50 ETF tracks the Hong Kong Technology Index, covering the top ten Chinese tech stocks and showing a cumulative increase of 131.68% since its base date, outperforming the Hang Seng Technology Index, which increased by 109.81% in the same period [3]

Core Viewpoint - Tencent has developed a professional-grade AI workstation called Hunyuan 3D Studio, designed specifically for 3D designers, game developers, and modelers, which streamlines the entire design process from concept to final game assets, significantly reducing production time from days to minutes [3][4]. Group 1: Key Features of Hunyuan 3D Studio - The platform includes seven core technology modules that ensure a seamless and automated workflow throughout the asset creation process [6]. - The workflow encompasses component splitting, controllable image generation, high-fidelity geometry generation, low-poly topology generation, semantic UV unwrapping, texture generation and editing, and rigging and animation effects [9][10]. Group 2: Component Splitting - The component splitting module utilizes connectivity analysis and semantic segmentation algorithms to automatically decompose complex models into logically and functionally independent components, allowing for independent editing and animation [9][10]. - The process involves using a feature extractor and segmentation heads to predict masks for component boundaries, ensuring high accuracy in the segmentation results [15][18]. Group 3: Controllable Image Generation - The controllable image generation module allows users to generate 3D design images in various mainstream game art styles by providing input images and style instructions [33][34]. - The system employs a dataset constructed from pairs of images to achieve precise mapping between realistic images and stylized outputs, enhancing the model's ability to generate consistent and high-quality designs [34][41]. Group 4: High-Fidelity Geometry Generation - High-fidelity geometry generation is based on the Hunyuan 3D framework, which includes a variational autoencoder for compressing and reconstructing 3D geometries [43][45]. - The process utilizes a diffusion model to efficiently generate high-quality samples from single input images, ensuring that the generated geometries align closely with the input prompts [47][50]. Group 5: Low-Poly Topology Generation - The low-poly topology module aims to create clean and art-compliant topology structures from high-fidelity geometries, employing a self-regressive model to predict vertices and faces directly from point clouds [55][56]. - The module incorporates a tokenization method that enhances training and inference efficiency by modeling the mesh as a sequence [59][60]. Group 6: Texture Generation and Editing - The texture generation framework extends 2D diffusion models to support multi-view texture generation, addressing challenges such as cross-view consistency and the transition from RGB textures to physically-based rendering (PBR) materials [76][78]. - A text-guided texture editing model has been developed, allowing for robust texture synthesis and editing based on high-quality PBR material datasets [81][84]. Group 7: Rigging and Animation Effects - The rigging and animation module includes a humanoid character animation branch and a general character animation branch, ensuring accurate bone generation and skinning through a template-based approach [97][100]. - The system allows for parameterized control, enabling high-level artistic adjustments throughout the pipeline while maintaining the ability to incrementally update without complete recalculation [104][105].

Investment Rating - The report maintains an "Outperform" rating for the industry [3][4][30]. Core Views - The AI sector has shown significant impact on the advertising business, cloud computing scenarios, and enterprise efficiency for internet giants, evidenced by Tencent's advertising growth of 20% in Q2 and Alibaba Cloud's growth accelerating to 26% [2][27]. - Recent developments include the launch of self-developed chips by companies like Baidu and Alibaba, which is expected to enhance market share for cloud service providers [2][27]. - The report recommends focusing on the AI theme, highlighting companies such as Tencent Holdings, Alibaba, Kuaishou, Baidu Group, Meitu, and Tencent Music, which are less correlated with macroeconomic fluctuations [2][27]. Company Dynamics - Baidu's AI search has reached 365 million monthly active users, leading the domestic AI search market [15]. - Tencent has launched a professional-grade AI 3D workspace called "Mix Yuan 3D Studio" aimed at 3D designers and game developers [15]. - The AI digital human from Keling can generate 1-minute videos, significantly lowering industry barriers [15]. - Meitu's first AI agent product "Xiao Mei" has entered public testing, enhancing local service experiences [21]. Underlying Technology - Tongyi's DeepResearch model has been fully open-sourced, achieving state-of-the-art results [22]. - ByteDance has released the Seedream 4.0 image creation model, enabling various creative modes [22]. - Alibaba has open-sourced the Wan2.2-Animate model for motion generation, allowing photos to come to life [23]. - Alibaba's next-generation model architecture Qwen3-Next has been introduced, featuring significant improvements in efficiency and performance [24]. Industry Policy - Guangdong province is supporting AI integration with robotics to create new markets for companion toys [25]. - Sichuan province plans to establish a "computing power supermarket" by 2027, aiming for unified scheduling and efficient use of computing resources [26].

Investment Rating - The report maintains an "Outperform" rating for the industry [3][4][30]. Core Insights - The AI sector is showing significant impacts on the advertising business, cloud computing scenarios, and enterprise efficiency, with notable growth in Q2 for Tencent's advertising at 20% and Alibaba Cloud accelerating to 26% [2][27]. - The report highlights the full-chain layout of self-developed chips by internet companies like Baidu and Alibaba, which is expected to enhance market share [2][27]. - The report recommends focusing on the AI mainline, specifically suggesting investments in Tencent Holdings, Alibaba, Kuaishou, Baidu Group, Meitu, and Tencent Music, which are less correlated with macroeconomic fluctuations [2][27]. Company Dynamics - Baidu's AI search has reached 365 million monthly active users, leading the domestic AI search industry [15]. - Tencent has launched a professional-grade AI 3D workspace called "Hunyuan 3D Studio" aimed at 3D designers and game developers [15]. - Meituan's first AI Agent product "Xiao Mei" has entered public testing, enhancing local life service experiences [20][21]. Underlying Technology - Tongyi's first deep research Agent model "DeepResearch" has been officially open-sourced, achieving state-of-the-art results [2][22]. - ByteDance has released the Seedream 4.0 image creation model, allowing various creative modes [22]. - Alibaba has open-sourced the action generation model "Wan2.2-Animate," enabling dynamic expressions in images [23]. Industry Policy - Guangdong province is supporting AI integration with robotics to create new markets for companion toys [25]. - Sichuan province plans to establish a "computing power supermarket" by 2027, aiming for unified scheduling and efficient use of computing power [26].

Market Overview - The Hong Kong stock market experienced fluctuations, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The weekly performance showed a rise of 156 points or 0.59%, with the Hang Seng Tech Index increasing by 5.09% [1][5] - The Southbound funds under the Stock Connect recorded a net inflow of HKD 4.84 billion, indicating continued interest in Hong Kong stocks [1] Key Industry Insights - The AI sector is highlighted as a significant growth area, with Baidu Group (9888HK) seeing a 14.3% increase last week, totaling a 52% rise since the recommendation [3] - The non-essential consumer sector surged by 4.86%, while the financial sector declined by 3% [1][5] - The report suggests focusing on technology sectors such as AI applications, semiconductors, and industrial software, as well as upstream non-ferrous metals benefiting from favorable economic conditions [3] Company Performance - Li Ning Company (2331HK) reported a revenue of HKD 14.817 billion for the first half of 2025, reflecting a year-on-year growth of 3.3% [10] - The company's gross margin was 50%, slightly down by 0.4 percentage points due to increased promotional activities [10] - The net profit for Li Ning was HKD 1.737 billion, a decline of 11% year-on-year, with a net profit margin of 11.7% [10] Upcoming IPOs - Upcoming IPOs include Zijin Mining International (2259) in the non-ferrous metals sector and Chery Automobile (9973) in the automotive sector, with listing dates set for late September 2025 [13]

Group 1: Chrome Update - Chrome has undergone its largest update since its launch in 2008, integrating the Gemini AI assistant into the browser for enhanced functionality [1] - The address bar has been upgraded to the "Omnibox" which intelligently recommends questions based on page content and allows complex queries directly [1] - The new version utilizes Gemini Nano for enhanced security, identifying harmful websites and managing notifications, and is currently available to US users [1] Group 2: Notion 3.0 Launch - Notion 3.0 has been officially launched, introducing the Agent feature that can autonomously perform all Notion operations [2] - The Agent can work independently for up to 20 minutes, completing complex tasks across tools such as integrating customer feedback and updating knowledge bases [2] - The new version includes a highly personalized "memory bank" and will soon support custom Agents for automated tasks and team sharing [2] Group 3: Tencent's Mixed Reality Studio - Tencent has released the "Mixed Yuan 3D Studio," aimed at 3D design professionals, which integrates AI technology to streamline the entire 3D asset production process [3] - The platform reduces production time from days to minutes and offers a comprehensive pipeline for various 3D creative tasks [3] - It features the industry-leading Mixed Yuan 3D 3.0 model with innovative capabilities such as segmentation generation and material editing [3] Group 4: Alibaba's Wan2.2-Animate Model - Alibaba Cloud has open-sourced the Wan2.2-Animate model, which supports generating animations for characters and animals, applicable in short video creation [4] - The model enhances character consistency and generation quality, offering modes for character imitation and role replacement [4] - The development team has created a large dataset for training, surpassing closed-source models in subjective evaluations [4] Group 5: Luma AI's Ray3 Model - Luma AI has launched Ray3, the world's first inference video model, advancing AI video from experimental to professional use [5][6] - Ray3 allows for fine control over actions and camera movements, generating previews in just 20 seconds at a fraction of the final rendering cost [6] - The model supports high-fidelity motion and lighting interactions, integrating seamlessly into professional post-production workflows [6] Group 6: ElevenLabs Studio 3.0 - ElevenLabs has introduced Studio 3.0, a comprehensive AI audio-video editor that consolidates narration, music, sound effects, subtitles, and video editing into a single timeline [7] - The new version offers over 10,000 AI voices, automatic music generation, and multi-language subtitle capabilities [7] - This tool is designed for video creators, podcasters, and audiobook authors, with API support for large-scale workflows [7] Group 7: Xiaomi's Xiaomi-MiMo-Audio Model - Xiaomi has open-sourced its first native end-to-end speech model, Xiaomi-MiMo-Audio, with 7 billion parameters and over 100 million hours of pre-training data [8] - The model excels in natural dialogue, audio subtitling, and long audio comprehension, showcasing capabilities in speech conversion and style transfer [8] - The development team has introduced a lossless compression model and achieved state-of-the-art results in various benchmark tests [8] Group 8: Retro Biosciences' RTR242 Drug Trial - Retro Biosciences has announced the initiation of human trials for the RTR242 drug in Australia, aimed at activating the autophagy system in aging cells [9] - The company's mission is to clear accumulated proteins in the brain to extend healthy human lifespan by 10 years, differing from traditional Alzheimer's treatments [9] - OpenAI has assisted in optimizing protein interactions for the drug, with plans to raise $1 billion to compete with other longevity research firms [9] Group 9: AI-Generated Genome by Evo - The Arc Institute and Stanford University have utilized the Evo model to create the world's first AI-generated functional bacteriophage genome, marking a new era in generative gene design [10][11] - The research team developed a specialized annotation pipeline to identify all genes in the bacteriophage, resulting in genomes with numerous new mutations [10] - Experimental validation confirmed that the AI-designed genomes could infect specific host strains, demonstrating the model's ability to coordinate complex mutations [11] Group 10: OpenAI Codex Applications - OpenAI has publicly shared seven core applications of Codex within its team, including code understanding, refactoring, and performance optimization [12] - The technical team has utilized Codex to enhance efficiency and code quality through various tasks such as generating unit tests and modifying multiple files [12] - Six best practices for using Codex have been disclosed, focusing on analysis before code generation and maintaining context for improved output quality [12]

Group 1 - Xiaomi recalls 116,887 units of SU7 standard electric vehicles due to potential collision risks in certain driving scenarios, with software updates planned to enhance safety features [1][2] - The recall affects vehicles produced between February 6, 2024, and August 30, 2025, and will be managed through OTA software upgrades [2] - The founder of Yunhai Yao, Zhao Han, passed away at the age of 40, leaving behind a significant business portfolio in the restaurant and investment sectors [2][4] Group 2 - The iPhone 17 series launched in China, with reports of high demand and significant price premiums for trade-ins, particularly for the Pro Max model [4] - Jaguar Land Rover has informed 33,000 global employees about production halts due to a cyberattack, but claims no impact on deliveries to the Chinese market [6] - Zhiyuan Robotics announced its partner team, with key leadership roles filled by experienced professionals in the robotics field [7] Group 3 - Yu Hao, CEO of Chasing Technology, confirmed the company's financial capability to enter the automotive sector, with plans for a luxury electric vehicle by 2027 [10] - Tencent launched a new platform, "Mixed Yuan 3D Studio," aimed at 3D designers and game developers, enhancing the production cycle of 3D assets [22] - Microsoft is set to invest over $7 billion in a new AI data center in Wisconsin, with plans for a second center to follow [26] Group 4 - The global PC handheld market is projected to reach 2.3 million units by 2025, reflecting a 32% year-on-year growth [26] - Beijing leads the nation in the number of registered large models, accounting for nearly 30% of the total, indicating a strong regional advantage in AI development [26] - Xiaomi has open-sourced its first native end-to-end voice model, showcasing advancements in AI and machine learning capabilities [20]

Group 1 - Xiaomi has officially open-sourced its first native end-to-end voice model, Xiaomi-MiMo-Audio, which is based on an innovative pre-training architecture and over a billion hours of training data, achieving few-shot generalization based on ICL in the voice domain and observing significant "emergent" behavior during pre-training [2] - Ashish Kumar, head of Tesla's Optimus AI team, has announced his departure to join Meta as a research scientist. During his tenure at Tesla, he focused on scalable AI methods and enhanced robot dexterity through reinforcement learning [2] - Google is integrating its Gemini AI model into the Chrome browser, allowing users to request explanations of web pages, consolidate information from multiple tabs, and restore previously closed sites. This integration follows a court ruling that Google does not need to divest Chrome [2] - Tencent has launched a one-stop work platform called "混元3D Studio," aimed at 3D designers and game developers. The platform utilizes AI technology to streamline the entire 3D production process, reducing production cycles from days to minutes [2]

Group 1 - Shengshu Technology has completed a Series A financing round amounting to hundreds of millions [1] - Dahong Technology has signed agreements with Alibaba Cloud and Yundenshu Technology [1] - Tencent has launched a professional-grade AI 3D workstation called Hongyuan 3D Studio [1] Group 2 - Huawei Cloud CEO Zhang Pingan announced the full launch of CloudMatrix384 AI Token services [1] - Huawei Cloud's embodied intelligence "R2C protocol" has completed the establishment of three national standards [1]