香港金融管理局、香港证券及期货事务监察委员会等，7月9日联合推出《保障消费者防诈骗约章3》 (《约章3.0》)，与多家国际大型科技公司、电信公司(统称"参与机构")建立合作框架，共同打击网络诈 骗。《约章3》的参与机构包括抖音、Google、Meta、Microsoft、WeChat、微博、小红书、中国移动 （600941）香港、中国联通香港等。(人民财讯) ...

While short videos are all the rage lately, Tencent Music's latest acquisition bolsters its position in the strategically important market for long-form audio content Key Takeaways: Its most recent application said Ximalaya accounted for 25% of China's online audio market in 2023 based on online audio revenue. It said its user base rose above the 600 million mark last year, with 318 million active monthly users accessing its material using their Tencent Music will pay $1.26 billion for Ximalaya, China's lea ...

June 9, 2025 09:00 PM GMT China Advertising Unfolding AI Proficiency Strengthens Top Online Players Our AlphaWise Survey showed slight recovery in advertiser expectations in 2025. We lift our 2025 growth forecast from 8.6% to 11.4% yoy. In this report, we explore: 1) secular trends on the demand side, 2) key share gainers and losers, and 3) AI improvements. Key OWs: Tencent, Alibaba, Meituan. M We conducted our 5th China Advertiser AlphaWise Survey in March 2025, where we polled 102 chief marketing officers ...

Core Viewpoint - Tencent and Baidu are adapting their strategies to maintain competitiveness in the global AI landscape despite U.S. semiconductor export restrictions, focusing on stockpiling chips, optimizing AI models, and leveraging domestic semiconductor capabilities [1][2][12]. Tencent's Approach - Tencent has a strong stockpile of graphics processing units (GPUs), which are essential for training AI models, and believes it can achieve effective training results with fewer chips than American companies suggest [3][4]. - The company is enhancing efficiency through software optimization, allowing it to utilize existing GPUs more effectively for AI tasks, and is exploring smaller models that require less computing power [5][6]. Baidu's Strategy - Baidu emphasizes its "full-stack" capabilities, integrating cloud computing, AI models, and applications, which allows it to deliver value even without the most advanced chips [7]. - The company is also focusing on software optimization to reduce operational costs and improve GPU utilization, which it considers a competitive advantage [8]. - Baidu highlights the progress of domestic Chinese technology firms in developing AI semiconductors, which could mitigate the impact of U.S. chip restrictions [10]. Domestic Semiconductor Development - China is increasing its focus on developing a domestic semiconductor ecosystem, although it still lags behind the U.S. in GPU and AI chip technology [11]. - Analysts note that stockpiling chips is one strategy Chinese companies are employing to navigate export restrictions, and there have been advancements in semiconductor technology within China [12]. - The development of self-sufficient chips and efficient software stacks is seen as a foundation for long-term innovation in China's AI ecosystem [10].

You can still find good values among AI stocks even after their strong price recovery in recent weeks.With more and more capital going into artificial intelligence (AI) development and infrastructure, and investors growing increasingly excited about the tech's potential impact on various businesses, stocks connected to the trend have been some of the market's biggest winners over the last two and a half years.Despite that rapid growth, many of those stocks could still have plenty of room to keep climbing. T ...

Core Viewpoint - WeRide is enhancing its strategic partnership with Tencent Cloud to accelerate the commercial deployment of its Level-4 robotaxi services and expand its global market reach [1][5]. Group 1: Partnership and Technology Development - The collaboration builds on a previous partnership established in April 2024, now focusing on integrating self-driving technology into Tencent's platforms like WeChat and Tencent Maps [2]. - Users will be able to hail WeRide robotaxis directly through Tencent's Smart Transportation Mini Program, making the service more accessible [2]. - The companies will co-develop a data-driven platform that combines cloud computing and advanced mapping tools to support data compliance and expedite the mass production of smart driving technologies [4]. Group 2: Financial Performance and Market Position - WeRide's revenues declined approximately 10% last year, totaling $49 million, prompting the need for enhanced R&D and commercial operations through Tencent Cloud's infrastructure [3]. - The partnership aims to leverage localized cloud services to efficiently scale WeRide's presence in international markets, where it already has a first-mover advantage [3]. Group 3: Competitive Landscape - WeRide's collaboration with Tencent is expected to intensify competition with rivals such as Alphabet's Waymo and Baidu [6]. - Waymo is a leader in the U.S. robotaxi market, providing over 250,000 paid rides weekly and heavily investing in safety and AI [7]. - Baidu's Apollo Go has established a fleet of 1,000 vehicles and has completed over 11 million ride orders, indicating its ambition to expand internationally [8]. Group 4: Stock Performance and Valuation - WeRide's shares have decreased by 28% year-to-date, contrasting with the industry's growth of 3.2% [9]. - The company trades at a forward price-to-sales ratio of 9.68, significantly higher than the industry average, and carries a Value Score of F [10]. - The Zacks Consensus Estimate predicts a year-over-year earnings increase of 64% for 2025 and 51% for 2026 [11].

转自：新华财经 5月15日，《2025凯度BrandZ最具价值全球品牌100强》榜单在沪发布。榜单显示，2025年，全球百强品 牌的总价值达到10.7万亿美元，同比增长29%，这一增长主要得益于科技驱动型品牌的强劲表现。在发 布活动现场，《世界品牌年鉴（2025）》全球品牌案例征集正式启动。 2025凯度BrandZ最具价值全球品牌10强 | 2025 年排名 | 品牌 | 2025 年品牌价值 ( 亿美元 ) | 价值同比变化 vs 2024( % ) | | --- | --- | --- | --- | | 1 | 苹果 | 12996.55 | +28% | | 2 | 谷歌 | 9441.37 | +25% | | 3 | 微软 | 8848.16 | +24% | | 4 | 亚马逊 1 | 8661.18 | +50% | | 5 | 英伟达 | 5094.42 | +152% | | ნ | Facebook | 3006.62 | +80% | | 7 | Instagram | 2289.47 | +101 % | | 8 | 麦当劳 | 2210.79 | 0% | | 9 | 甲骨文公 ...

Core Insights - Alibaba, Tencent, and JD.com reported earnings reflecting improved Chinese consumer spending and the benefits of artificial intelligence in advertising [1] Group 1: Alibaba - Alibaba's Taobao and Tmall group sales rose by 9% year on year to 101.37 billion yuan ($13.97 billion) for the three months ended March 31, exceeding the predicted 97.94 billion yuan [2] - Marketing revenue for Alibaba grew 12% year on year to nearly $10 billion, aided by the use of AI tools to enhance marketing efficiency [16] - Despite positive sales figures, Alibaba's overall profit was about half of analysts' expectations, leading to a 7.6% drop in shares during U.S. trading [17] Group 2: JD.com - JD.com reported a 16.3% increase in revenue from its retail business to 263.85 billion yuan for the three months ended March 31, surpassing the predicted 226.84 billion yuan [8] - Sales in electronics and home appliances surged by 17% year on year, supported by China's trade-in subsidies [7] - JD's marketing revenues climbed by 15.7% to 22.32 billion yuan, partly due to AI tools enhancing ad conversion rates [13][14] Group 3: Tencent - Tencent's "fintech and business services" segment saw a 5% year-on-year revenue increase to 54.9 billion yuan in the first quarter [9] - Marketing services revenue for Tencent surged by 20% to 31.9 billion yuan, driven by strong advertiser demand for short videos and content on WeChat [10] - AI advancements have improved Tencent's click-through rates for ads to nearly 3%, a significant increase from historical rates of 0.1% for banner ads and around 1% for feed ads [11] Group 4: Market Context - The earnings reports reflect a period before the escalation of U.S.-China trade tensions in April, which introduced new tariffs [4] - A Morgan Stanley survey indicated consumer confidence fell to a 2.5-year low, with 44% of respondents concerned about job losses, impacting spending expectations [18] - Analysts predict that as trade tensions ease, consumption will rise, and related stimulus policies may focus on boosting spending in various sectors [5][20]

14 May 2025 | 7:33PM HKT Tencent Holdings (0700.HK): 1Q25 First Take: Clean beat on ads, games and gross margin expansion; eyes on AI applications; Buy Tencent reported solid 1Q25 beat across top-line (+13% yoy, vs. GSe/Visible Alpha Consensus Data of 10%) and EPS (+25% yoy vs. GSe/consensus of 20%), with further revenue growth acceleration from 11% in 4Q24, driven by robust games (+24% yoy) and marketing services (+20% yoy) revenue growth. Gross margin (55.8%, vs. GSe of 54.4%) also reached its highest lev ...

完整早报音频，请点击标题下方小耳机收听 【红星美凯龙创始人被立案调查并实施留置】 红星美凯龙（601828）5月13日晚间发布公告称，接到 公司董事车建兴家属的通知，于近日收到云南省监察委员会电话通知，对车建兴立案调查并实施留置 措施。红星美凯龙称，截至目前，公司尚未收到任何书面形式《留置通知书》《立案通知书》，亦未 收到云南省监察委员会需要协助调查或提供任何资料的要求。红星美凯龙表示，目前公司董事会运作 正常，控制权未发生变化。为保证日常经营工作顺利进行，董事长李玉鹏在此期间代行总经理全部职 责。（中国青年网） 【Manus母公司拟融资1亿美元？官方回应： 假的 】 据报道，智能体产品Manus背后公司蝴蝶效应 正在计划新一轮融资，预计融资规模为1亿美元，估值15亿美元。本轮融资将有国资参与，所筹集的 资金将主要用于发展中国市场业务。对此，蝴蝶效应官方公开回应该："假的"。并配上了打假图文。 蝴蝶效应方面表示，"近日有关于'Manus母公司拟以15亿美元估值进行融资，规模1亿美元'为不实消 息，团队目前正专注于产品。"（新浪科技） 【贾跃亭甘薇已无商业关联】 14日，演员、北京乐漾影视有限公司创始人甘薇在个 ...