阿里的千问团队同样不敢松懈。除夕当天，千问正式开源Qwen3.5，还同步上线"春节请客计划"，把AI能力绑定到淘 宝、饿了么的消费场景里。整个春节期间，超1.3亿人用千问点奶茶、囤年货、买电影票，团队必须实时跟进服务器负 载，确保免单和消费链路不出差错。 腾讯元宝则砸下10亿现金红包，试图用"元宝派"等裂变玩法复刻微信红包的神话。春节主会场累计抽奖超36亿次，完 成10亿次AI创作，社交链带来的流量洪峰，让技术团队不得不24小时轮值，守住产品的稳定性底线。 大厂之外，刚在港股上市的智谱和MiniMax，也在春节期间打了一场"技术硬仗"。智谱发布主打复杂编程与长程智能 体任务的GLM-5，MiniMax推出全球首个为Agent场景原生设计的生产级编程模型M2.5。两家公司的技术团队，一边 要完成模型上线的最后调试，一边要应对上市后首次春节大考，放假自然成了奢望。 站在初六这个节点回头看，这场全员无休的春节大战，打得热闹，却也暴露了行业最真实的矛盾。 从数据上看，这场仗打得很漂亮。豆包的19亿次互动、千问的1.3亿用户、元宝的36亿次抽奖，刷新了国产AI的C端流 量纪录。但热闹背后，是"流量狂欢"与"运营承压"的 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 春节大战，全员在岗。 作者/冯雨晨 报道/投资界PEdaily 一批人开始复工，一批人则陆续放假。 回到春节前夕，大厂同事圈中一则帖子流传：某宝作为重点项目团队全员留守，原则上不批假，工资按 照工资三倍支付。 一位参与加班的腾讯元宝人士告诉投资界：春节加班是要支持元宝的春节活动，另一方面，则是等待 Deepseek V4模型的更新。 没有人敢掉以轻心。时间回到1月底，腾讯掌门马化腾在公司年会上宣布，旗下AI应用腾讯元宝将启动 春节分10亿元现金活动。"希望重现当年微信红包摇一摇绑定数亿用户的盛况"，马化腾当时如此定调。 外界可能不知道，去年DeepSeek爆火之际，元宝宣布接入满血版DeepSeek R1，从原本只依赖自研模型 转向支持多模型的产品策略。这一策略延续至今天，而在春节前夕，市场频频传出DeepSeek要在春节 期间更新上线V4版本。 如此一来，超级流量与氛围狂欢中，叠加可能到来的DeepSeek更新，腾讯无疑想把技术保障做好。于 是，打工人们来到加班"作战"状态。 同时，字节有些外地团队奔赴北京留守，将在春节期间支持豆包。 ...

Summary of Key Points from Conference Call Company and Industry Overview - **Company**: Dongyangguang (东阳光) - **Industry**: AI and Data Center Infrastructure Core Insights and Arguments - **Establishment of National AI Ecosystem**: ByteDance has made significant moves by launching Seedance 2.0, Doubao 2.0, and the multimodal model Seedream 5.0, solidifying its position as a national-level AI traffic entry point. The strategic intent to build a national AI ecosystem is clear, with user penetration rates increasing exponentially, indicating a qualitative change in the AI ecosystem's prosperity [1][1]. - **Increased Demand for Computing Power**: The rapid iteration of models and diverse applications highlight an extreme demand for computing power. Once Doubao establishes its national-level status, the consumption of inference-side computing power is expected to increase significantly. The training and deployment of multimodal models like Seedance and Seedream will also consume substantial computing resources. By 2026, data centers, as core computing power carriers, are anticipated to enter a significant expansion phase [2][2]. - **Transition to AI Computing Power Service Provider**: Dongyangguang has successfully transitioned from traditional manufacturing to an AI computing power service provider. The core asset value is becoming more prominent: - **IDC Operations**: The company has completed the asset transfer of Qinhuai Data, improving governance structure. As a core IDC supplier for ByteDance, the revenue share is high, and Qinhuai Data's resource reserves in key areas will benefit from increased capital expenditures in computing power, leading to expected performance elasticity [2][2]. - **Liquid Cooling Technology**: The company has made substantial progress in the liquid cooling sector, transitioning from a materials supplier to a comprehensive solution provider through self-research and acquisitions, aiming to capture a larger share in the global supply chain of leading manufacturers [2][2]. - **Development of High-End Components**: To address the miniaturization challenges in AI power supplies, the company has established a new research and production base for supercapacitors [3][3]. Additional Important Content - **Industrialization of Layered Foil Technology**: The move signifies that layered foil technology has transitioned from the laboratory to large-scale industrialization, with customized solutions deeply integrated into data center power supply systems [4][4]. - **Risk Factors**: Potential risks include the underperformance of AI large models and user growth, fluctuations in capital expenditures from downstream internet giants, and significant volatility in raw material prices [4][4].

Market Overview - The A-share market experienced narrow fluctuations, with the Shanghai Composite Index closing up 0.05% at 4134.02 points, while the Shenzhen Component Index rose by 0.86%, the ChiNext Index by 1.32%, and the STAR Market Index by 1.56% [1][8] - Overall trading sentiment was subdued ahead of the Spring Festival, with a total trading volume of 2.16 trillion yuan, slightly up from 2 trillion yuan the previous trading day [1][8] - There was a divergence in individual stock performance, with over 3200 stocks declining, while sectors such as artificial intelligence, computing power, and electric grid saw gains [1][8] Artificial Intelligence Sector - The AI sector continued to strengthen, with the Guotai AI ETF (159388) and the STAR Market AI ETF (589110) both rising by 3.97% [3][10] - Major developments included the launch of new AI models and significant price adjustments for existing services, indicating a shift towards commercial viability in the AI market [3][10] - The introduction of the GLM-5 model and the "director-level" video AI Seedance2.0 showcased advancements in AI capabilities, enhancing user experience and market expectations [3][10][11] Electric Grid Sector - The electric grid sector saw significant gains driven by favorable policy announcements, including the State Council's implementation plan for a unified national electricity market by 2030 [6][14] - The plan aims for market-based transactions to account for 70% of total electricity consumption by 2030, with further improvements expected by 2035 [6][14] - The sector is experiencing a dual demand boost from both domestic infrastructure projects and international market needs, particularly in data center construction and AI computing power [6][14] Investment Opportunities - Investors are encouraged to monitor the Guotai AI ETFs (589110, 159388) and the electric grid ETF (561380) as potential investment opportunities due to the ongoing developments in AI and electric grid sectors [5][14]

Group 1 - The domestic large model field has seen significant updates, igniting market expectations for a new round of innovation in the AI industry chain [2] - DeepSeek has launched an update that supports a maximum context length of 1 million tokens, enabling the model to process long texts such as entire novels and complex documents, facilitating AI applications in high-value scenarios like financial analysis and legal review [3] - Zhiyu AI has released its flagship model GLM-5, achieving state-of-the-art capabilities in coding and agent functions, bringing its performance close to international leaders, indicating that domestic models are now competitive in execution capabilities [4] Group 2 - The release of new models is part of a concentrated launch window, with several companies including DeepSeek, Kimi, Alibaba, and Baidu unveiling new models, reflecting a shift in the internet value chain towards execution capabilities and new business models [5] - The increasing demand for computing power is supported by significant capital expenditures planned by major companies, with ByteDance planning 160 billion yuan for 2026 and Alibaba investing 380 billion yuan in AI infrastructure over three years [5] - The AI ETF tracking the entrepreneurial board AI index covers the entire AI industry chain, including hardware, software, and applications, with major holdings benefiting from the expansion of cloud vendor capital expenditures [6]

Core Viewpoint - ByteDance officially launched the image generation model Seedream 5.0, positioning it as a practical AI creation engine aimed at disrupting the content creation industry, directly competing with Google's Nano Banana Pro [1][11]. Group 1: Technological Breakthroughs - The model's core technological advancements are evident in three areas: significant improvement in image quality, optimization of detail textures and lighting effects, enhancing the commercial usability of e-commerce posters and character portraits [3][13]. - Breakthroughs in intelligent interaction allow for real-time retrieval of raw images, addressing the traditional AI image generation's "information lag" issue, while accurately interpreting abstract commands and supporting localized brush editing [3][13]. - A deep ecological closed-loop is constructed, integrating tools like Jianying, CapCut, and Xiaoyunque, achieving full-link coverage from "generation to editing to distribution" [3][13]. Group 2: User Access and Experience - Domestic users can experience Seedream 5.0 through the image preview entry in Jianying and Xiaoyunque apps, while overseas users can access it via the CapCut integration [5][15]. - The platform offers a limited-time feature allowing 20 free generations per day, with members able to unlock unlimited generations and commercial licenses [5][15]. Group 3: Industry Impact and Future Outlook - Seedream 5.0 is expected to revolutionize creation efficiency, potentially increasing content usability for ordinary users to 90% and shortening the creation cycle by 10 times, thereby accelerating the industrialization process in the self-media and e-commerce sectors [10][18]. - The competitive logic of domestic models is shifting from "parameter competition" to "ecological integration," which may lead to increased legal risks related to copyright infringement and false content [10][18].

>>>>> ETF早知道 >>>>> ETF早知道 ETFIFAN (<<< >>>> HIJFIT 2026 目早知道 Feb ETFER通 (44) 市场温度计 >>>>> ETFEER 中长期信号 · 投资看温度 --- 75% --- 75% 75% -- > 25% -+ 25% -- > 25% ETFEFRE «<<<< 0.13% ↑ 0.02% ← -0.37% > 上证指数 深证成指 创业板指 注:温度计水银条由对应指数的近十年市盈率分位数表示,总值为100%。数据来源：iFind,截至 2026.2.10,上证指数、深证成指、创业板指的近十年市盈率分位数分别为99.59%、92.88%、50.6% ETFER e 0 (e) 6 板块热力图 ETFEFR消 <<<< 短期轮动走向·观九宫热力值 +4.27% +1.11% +2.15% 传媒 tes 家用电器 E | 15913 港股通医疗EIF程式 | | 2.10% | 70'T | -2.6/%0 | | --- | --- | --- | --- | --- | | 589520 科创人工智能ETF华宝 | | 1.81% | 0 ...

大家早上好！这里是今天的早报，每天早上，我都会在这里跟你聊聊昨夜今晨发生了哪些大事儿。 美国和伊朗上周五在阿曼恢复谈判，这是自6月以来双方首次重启对话。但与此同时，特朗普也在海湾地区推 进大规模军事集结。 "要么我们达成协议，要么就必须像上次那样采取非常强硬的行动，"特朗普表示。 特朗普预计，第二轮美伊谈判将在下周举行。 "我们有一支舰队正在前往那里，另一支也可能会出动，"特朗普说。他补充称，自己正在"考虑"再派遣一支航 母打击群。 美国官员证实，政府内部确实讨论过向该地区增派第二支航母打击群的可能性。 【谷歌母公司Alphabet百年英镑债认购倍数超7倍，多市场筹集近320亿美元债务】 谷歌母公司Alphabet近日筹集近320亿美元债务融资，展现出科技巨头在人工智能竞赛中的庞大资金需求，以 及信贷市场为其提供资金的巨大意愿。 昨夜今晨 【特朗普放话：若美伊谈判无果，或向中东增派航母打击群】 据央视新闻，美国总统特朗普称他正在考虑，若与伊朗的谈判未能取得成果，或向中东地区再派遣一支美国航 母打击群，为可能的军事行动做准备。 公司周一完成200亿美元七期美元债发行后，紧接着推出英镑和瑞士法郎债券，两个市场均创 ...

Market Overview - A-shares experienced narrow fluctuations, with the Sci-Tech Innovation Board showing strong performance, particularly in AI applications and computing chips [1] - The Hong Kong stock market saw a significant rebound in the pharmaceutical sector, with the Hong Kong Innovation Drug ETF (520880) reaching a peak increase of 3.86% and closing up 2.9% [3][5] ETF Performance - The Hong Kong Innovation Drug ETF (520880) recorded a trading volume of 5.9 billion, while the Hong Kong Medical ETF (159137) rose by 2.1%, marking its sixth consecutive day of gains [2][3] - The Sci-Tech Artificial Intelligence ETF (589520) increased by 1.81%, with a peak rise of over 2.4% during the trading session [8] Industry Insights - The Chinese innovative drug sector is experiencing a dual breakthrough in internationalization and commercialization, with over 70% of innovative drug companies reporting positive revenue growth [6][7] - Significant collaborations in the innovative drug space include a strategic partnership between Innovent Biologics and Eli Lilly, valued at up to $8.85 billion, and a $18.5 billion collaboration between CSPC Pharmaceutical and AstraZeneca [6] AI and Technology Developments - ByteDance's recent launches, including the Seedance 2.0 video generation model and Seedream 5.0 image generation model, have generated significant interest in the AI sector [11] - The Sci-Tech Artificial Intelligence ETF (589520) has a substantial exposure to ByteDance, with a weight of 29.42% in its index [11][13] Semiconductor and Chip Industry - The semiconductor equipment industry is experiencing an upward trend, with projected sales growth of 26% in 2026, reaching $791.7 billion [17] - The Sci-Tech Chip ETF (589190) is positioned to benefit from the ongoing "super cycle" in the semiconductor industry, with a focus on domestic production and expansion [15][17] Investment Strategy - Analysts suggest that the current market conditions present a favorable opportunity for investment in innovative drugs and AI sectors, with a recommendation to focus on ETFs that track these industries [7][19] - The Sci-Tech Chip ETF has shown a strong annualized return of 17.93%, outperforming other semiconductor indices [19][20]

周二（2月10日），A股窄幅震荡，科创板表现亮眼，字节Seedance2.0爆火出圈，AI应用、算力芯片全 线活跃，科创人工智能ETF华宝（589520）场内继续猛攻近2%，科创芯片ETF华宝（589190）场内继续 反弹逾1%。 港股方面，医药医疗绝地反弹，创新药纯度100%的港股通创新药ETF（520880）场内摸高3.86%，收涨 2.9%收复20日线，放量成交5.9亿元；CXO含量较高的港股通医疗ETF华宝（159137）场内涨2.1%豪取 六连阳。 | | 序号 代码 | 类型 名称 | 现价 | 涨跌幅 ▼ | 成交额 | | --- | --- | --- | --- | --- | --- | | 1 | 520880 | 跨 港股通创新药ETF T+0 | 0.533 | 2.90% | 5.90亿 | | 2 | 159137 | 跨 港股通医疗ETF华宝 T+0 | 1.019 | 2.10% | 6557.82万 | | 3 | 589520 | 主 科创人工智能ETF华宝 | 0.676 | 1.81% | 4048.83万 | | ব | 589190 | 主 科创芯片ETF华宝 ...