28 November 2025 | 3:39PM HKT Equity Research Navigating China Internet: Top AI/apps tracker: Continued contest in State-of-the-Art AI models & new AI chatbot launches Key bright spots in AI developments since our last monthly edition include 1) Further breakthroughs in AI multi-modal capabilities, with US AI models regaining top spots vs. China AI models in rankings, where Google (covered by Eric Sheridan) recently released Gemini 3 Pro and Nano Banana Pro, achieving superior capabilities compared to exist ...