港股详情

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商汤-W

1.840

-0.040-2.13%

成交量：2.44亿

成交额：4.54亿

市值：743.80亿

市盈率：-34.16

高：1.890

开：1.890

低：1.840

收：1.880

52周最高：2.940

52周最低：1.240

股本：404.24亿

香港流通股本：404.24亿

量比：0.61

换手率：0.60%

股息：- -

股息率：- -

每股收益(LYR):-0.054

净资产收益率：-7.03%

总资产收益率：-5.74%

市净率：2.46

市盈率(LYR):-34.16

市销率: 13.11

数据加载中...

总览公司新闻资讯公告

商汤－Ｗ(00020)出现大手卖出230万股，成交价$1.84，涉资423.2万

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道指期货升近400点港股初段续升逾300点 AI股受捧商汤(00020.HK)绩后扬4.7% 迅策(03317.HK)急涨13%

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异动解读 | 业绩亮眼叠加Token经济热潮，商汤-W盘中大涨5.24%

港股延续高开态势恒指升0.87% 洛阳钼业(03993)涨6.69%

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概念股追踪 | 中国日均Token调用量突破140万亿，全球大模型行业正在迈向“Token经济”(附概念股)

商汤-W(00020)2025年权益持有人应占亏损同比减亏58.72%

商汤-W(00020)发布2025年业绩：总收入超50亿元生成式AI爆发式增长51%

商汤2025年总收入50.15亿元，同比增长32.9%

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MiniMax长成了闫俊杰最需要警惕的样子

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异动解读 | 商汤-W盘中大跌5%，或因遭遇密集大手卖出

商汤－Ｗ(00020)出现大手卖出140万股，成交价$1.96，涉资274.4万

阿斯达克财经

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16:35","pubTimestamp":1774427700,"startTime":"0","endTime":"0","summary":"招银国际发表研究报告指，商汤科技去年总收入按年增长33%至50.1亿元人民币，高于预期，主要是受惠于生成式AI业务增长强劲；经调整净亏损按年收窄54%至19.6亿元人民币，亦高于预期，主要由于有效控制费用及营运杠杆释放。鉴于生成式AI业务表现亮眼，将公司2026年至2027年收入预测上调3%至6%，料今年总收入按年升27%至63.9亿元人民币，其目标价由2.45港元上调至2.5港元，维持其评级为“买入”。","market":"sh","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20260312180023402_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20260312180023402_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1512366/latest-news/AAFN","rn_cache_url":null,"directOrigin":true},"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1512366/latest-news/AAFN","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"shareholding","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["00020"],"gpt_icon":0},{"id":"2622253260","title":"商汤：将发布AudioClaw及SenseAudio两项AI语音方向成果","url":"https://stock-news.laohu8.com/highlight/detail?id=2622253260","media":"阿斯达克财经","labels":["productRelease"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2622253260?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 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将在“2026全球开发者先锋大会”重点展示AI语音方向的内容，发布基于多模态大模型的智能应用商汤输入法AudioClaw及AI语音开放平台SenseAudio两项AI语音方向的重要成果，其中，AudioClaw融合语音输入、会议记录、内容改写及知识沉淀等能力，拓展语音交互在办公与沟通场景中的应用边界；SenseAudio面向开发者与企业，提供语音识别及语音合成等能力，并通过标准化API接口，支持高效接入与调用相关能力。","market":"sh","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20231123103149620_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20231123103149620_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1512347/latest-news/AAFN","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1512347/latest-news/AAFN","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"productRelease","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["BK1109","BK1615","00020","BK1613","80020"],"gpt_icon":0},{"id":"1193388457","title":"商汤集团2025年营收突破50亿元创历史新高，下半年EBITDA首次转正","url":"https://stock-news.laohu8.com/highlight/detail?id=1193388457","media":"美股速递","labels":["dataReport"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/1193388457?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 15:55","pubTimestamp":1774425307,"startTime":"0","endTime":"0","summary":"商汤集团在2025年实现营收超50亿元人民币，刷新历史最高纪录。值得关注的是，公司下半年EBITDA（税息折旧及摊销前利润）首次转为正值，标志着其盈利能力实现关键突破。\n这一业绩表现凸显了商汤在人工智能技术商业化落地方面的加速态势。营收规模的大幅增长与盈利指标的改善，共同印证了公司战略转型成效显著。","market":"us","thumbnail":"","type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":"","theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"2","news_top_title":null,"news_tag":"dataReport","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["BK1613","BK1615","80020","BK1109","00020"],"gpt_icon":0},{"id":"2622045098","title":"人形机器人如何进家庭？商汤联合创始人王晓刚：先经B端压力测试，再向C端推广","url":"https://stock-news.laohu8.com/highlight/detail?id=2622045098","media":"睿见Economy","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2622045098?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 11:21","pubTimestamp":1774408860,"startTime":"0","endTime":"0","summary":"　　3月25日，博鳌亚洲论坛2026年年会于3月24日至27日在海南博鳌举行。在“人形机器人的进阶与飞跃”论坛上，商汤联合创始人、执行董事、大晓机器人董事长王晓刚出席并发表观点。　　谈及机器人进入家庭、职场和公共空间，怎样应对可能引发的物理安全、数据安全、伦理争议和责任认定等问题。","market":"hk","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://finance.sina.com.cn/hy/hyjz/2026-03-25/doc-inhseiye3719920.shtml","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"sina","symbols":["BK1109","00020","80020","ROBO","BK1615","BK1613"],"gpt_icon":0},{"id":"2622043338","title":"商汤－Ｗ(00020)出现大手买入110万股，成交价$2.0，涉资220万","url":"https://stock-news.laohu8.com/highlight/detail?id=2622043338","media":"阿斯达克财经","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2622043338?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 10:00","pubTimestamp":1774404000,"startTime":"0","endTime":"0","summary":"[大手成交]商汤－Ｗ(00020)在上午10:00出现大手买入，成交量为110万，成交价为港币$2.0，涉资220万。至目前为止，股价升4.712%，今日最高价为$2.02，而最低价为$1.95，总成交量为1.901亿股，总成交金额港币$3.789亿。","market":"fut","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20180815142908927_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20180815142908927_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAV2603255231/aamm-all-category","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAV2603255231/aamm-all-category","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"shareholding","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["BK1615","BK1613","80020","00020","BK1109"],"gpt_icon":0},{"id":"2622048714","title":"道指期货升近400点  港股初段续升逾300点  AI股受捧商汤(00020.HK)绩后扬4.7%  迅策(03317.HK)急涨13%","url":"https://stock-news.laohu8.com/highlight/detail?id=2622048714","media":"阿斯达克财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2622048714?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 09:49","pubTimestamp":1774403340,"startTime":"0","endTime":"0","summary":"商汤-W现报2元，升4.71%，成交3.37亿元。经调整EBITDA亏损亦收窄至6.45亿元，上年同期亏损为31.16亿元。去年下半年EBITDA为3.76亿元，上市后首次转正。有“中国版PLTR”之称的内地大数据服务商迅策今早高开3.77%，初段升幅扩大，最高见159.2港元。迅策将于本周五公布业绩。MINIMAX-W现报1,071港元，升3.98%，成交5.01亿港元。相关内容《大行》摩根士丹利料MINIMAX-W迭代步伐正加快 评级“增持”智谱现报696港元，升6.26%，成交68.33万股，涉资4.75亿港元。","market":"other","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20180917140404248_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20180917140404248_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1512161/latest-news/AAFN","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1512161/latest-news/AAFN","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["00020","BK1615","FGBXmain","BK1109","BK1155","YMmain","03317","80020","BK1613"],"gpt_icon":1},{"id":"1130230794","title":"异动解读 | 业绩亮眼叠加Token经济热潮，商汤-W盘中大涨5.24%","url":"https://stock-news.laohu8.com/highlight/detail?id=1130230794","media":"异动解读","labels":["movement"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/1130230794?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 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洛阳钼业(03993)涨6.69%","url":"https://stock-news.laohu8.com/highlight/detail?id=2622010002","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2622010002?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 09:32","pubTimestamp":1774402362,"startTime":"0","endTime":"0","summary":"金吾财讯 | 港股延续高开态势，恒指升0.87%，国企指数高开0.71%，恒生科技指数高开0.99%。农夫山泉涨6.03%，公司公布截至2025年12月31日止年度之全年业绩。期内，集团收入280.26亿元，同比增长8.04%，此乃由于猪肉销量及肉制品的平均售价上升。期内，集团收入50.15亿元，同比增长32.94%。禾赛低开9.65%，公司发布公告，截至2025年12月31日止年度，公司普通股股东应占净利润4.36亿元，上年同期为亏损1.02亿元，同比扭亏为盈。","market":"nz","thumbnail":"https://static.szfiu.com/news/20250106/ODE3MzYxNTg1NDgwMzI=.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20250106/ODE3MzYxNTg1NDgwMzI=.jpg"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1977169","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["BK4585","LU1303224171.USD","TTNDY","LU0359201612.USD","BK1604","LU1880383440.USD","02833","SGXZ49509284.SGD","603993","LU1146622755.USD","BK4588","LU0149721374.USD","BK1233","OROVY","BK1591","BK0183","02525","BK1190","LU1770034418.SGD","LU1719994722.HKD","LU2580892862.HKD","BK1144","513600","03993","BK0028","BK1583","LU1251922891.USD","600938","BK1589","LU0359202008.SGD","BK0242","LU0359201885.HKD","BK1594","00316","MCHmain","HHImain","SG9999004311.SGD","BK1592","00288","NNFSF","09633","LU1481107354.HKD","BK0188","BK0196","LU2580892789.USD","LU2213484517.USD","LU1820825898.SGD","00669","BK0056","LU0164880469.USD","WHGLY","BK0182","LU1023057109.AUD","SGXZ81163826.USD","BK0012","06862","LU1880383366.USD","00020","LU2488822045.USD","01209"],"gpt_icon":1},{"id":"2622012619","title":"【湾区早参】港媒：清明假期，香港赴内地高铁“一票难求”；今年到访澳门旅客已逾千万人次","url":"https://stock-news.laohu8.com/highlight/detail?id=2622012619","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2622012619?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 08:24","pubTimestamp":1774398246,"startTime":"0","endTime":"0","summary":"2、港媒：清明假期，香港赴内地高铁“一票难求”据香港“01”网报道，如在3月20日通过“中国铁路12306”手机应用程序抢购4月3日从香港出发至成都的车票，很快就看到各类车票售罄，只能购买候补票。","market":"fut","thumbnail":"https://static.szfiu.com/news/20241108/ZTRlMTU1ZDUyYWE0NDQzMjc2MzgzOTI4MA==.png","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20241108/ZTRlMTU1ZDUyYWE0NDQzMjc2MzgzOTI4MA==.png"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1977152","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["BK1583","MCNHmain","BK1536","BK1610","BK1613","00728","BK1233","BK1200","BK1506","BK1604","CYB","CNHmain","UCmain","LU0541501648.USD","HK0000288743.USD","00288","BK1543","LU0287142896.SGD","LU0702159699.USD","LU2488822045.USD","BK1589","LU1166156734.SGD","BK1615","09633","BK4585","BK4588","HK0000352291.HKD","HK0000288784.HKD","MUCmain","LU0039217434.USD","BK1521","BK1603","HK0000352382.USD","SG9999001226.SGD","SG9999001051.SGD","06862","SGXZ90724238.SGD","LU0173614495.USD","LU0541502299.USD","BK1237","BK1109","80020","00020","LU0274383008.USD","LU1981816686.USD","SG9999002950.SGD","BK1133","SG9999001069.SGD","BK1591","VIG"],"gpt_icon":0},{"id":"2622011173","title":"概念股追踪 | 中国日均Token调用量突破140万亿，全球大模型行业正在迈向“Token经济”(附概念股)","url":"https://stock-news.laohu8.com/highlight/detail?id=2622011173","media":"智通财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2622011173?lang=zh_cn&edition=fundamental","pubTime":"2026-03-25 07:14","pubTimestamp":1774394058,"startTime":"0","endTime":"0","summary":"刘烈宏指出，2024年年初，中国日均Token调用量为1000亿；到2025年底，跃升至100万亿；今年3月，已突破140万亿，两年增长超千倍。不少行业人士认为，全球大模型行业正在迈向“Token经济”，即大模型的价值不再只以前沿推理能力作为单一指标，而是加入“以Token计价”的商业经济指标。Token正在成为AI公司新的估值锚。2025年公司ARPU同比翻倍至559万元，营收增长103%，下半年经调整净利润已实现转正，业绩增长与Token放量高度同步。","market":"sh","thumbnail":"https://static.tigerbbs.com/dc6b349024c9e1ab5b9d5e7f56a0c3cf","type":0,"news_type":0,"thumbnails":["https://static.tigerbbs.com/dc6b349024c9e1ab5b9d5e7f56a0c3cf"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":"523e5daad4ab8107c194ebfd6985ac79","theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.zhitongcaijing.com/content/detail/1418412.html","is_publish_highlight":true,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"stock_zhitongcaijing","symbols":["03896","09903","BK1575","80020","BK1607","BK1155","00700","BK4585","00100","BIDU","BK1588","BK1613","BK1585","BK1163","BK1109","00020","TCEHY","BK4588","GDS","BK1615","09698","03317","VXUS","09888","02513","BK1134"],"gpt_icon":0},{"id":"2621681099","title":"商汤-W(00020)2025年权益持有人应占亏损同比减亏58.72%","url":"https://stock-news.laohu8.com/highlight/detail?id=2621681099","media":"金吾财讯","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2621681099?lang=zh_cn&edition=fundamental","pubTime":"2026-03-24 23:33","pubTimestamp":1774366422,"startTime":"0","endTime":"0","summary":"金吾财讯 | 商汤-W(00020)公告公布，截至2025年12月31日止年度之年度业绩。期内，公司权益持有人应占亏损17.66亿元(人民币，下同)，同比减亏58.72%；每股基本及摊薄亏损0.05元，去年同期为亏损0.13元。期内，集团收入50.15亿元，同比增长32.94%。","market":"fut","thumbnail":"https://static.szfiu.com/news/20250106/NzVmNzI2NGE4ZDk3NWFhOTZkNGE5Nzk4MDcyMTM1NjM3MTc0MDU=.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20250106/NzVmNzI2NGE4ZDk3NWFhOTZkNGE5Nzk4MDcyMTM1NjM3MTc0MDU=.jpg"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1977150","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"shareholding","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["00020","BK1613","80020","BK1109","BK1615"],"gpt_icon":0},{"id":"2621063016","title":"商汤-W(00020)发布2025年业绩：总收入超50亿元 生成式AI爆发式增长51%","url":"https://stock-news.laohu8.com/highlight/detail?id=2621063016","media":"智通财经","labels":["dataReport"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2621063016?lang=zh_cn&edition=fundamental","pubTime":"2026-03-24 18:12","pubTimestamp":1774347170,"startTime":"0","endTime":"0","summary":"智通财经APP获悉，3月24日，商汤-W(00020)发布2025年业绩公告，集团总收入超50亿元，贸易应收回款48.7亿元，创下双新高，生成式AI爆发式增长51%。全年净亏损大幅收窄58.6%，下半年EBITDA为3.8亿元，上市后首次转正。下半年集团经营性现金流自上市以来首次实现正向净流入。整体业绩表现超市场预期，公司成功从技术投入期迈向可持续的爆发增长期。此外第二季度将推出全新基础模型，实现效能与性价比的倍数级跃升，广泛赋能智能体AI应用。","market":"hk","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.zhitongcaijing.com/content/detail/1418103.html","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"dataReport","news_rank":0,"length":0,"strategy_id":0,"source":"stock_zhitongcaijing","symbols":["BK1613","00020","80020","BK1109","BK1615"],"gpt_icon":0},{"id":"1173373225","title":"商汤2025年总收入50.15亿元，同比增长32.9%","url":"https://stock-news.laohu8.com/highlight/detail?id=1173373225","media":"老虎资讯综合","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/1173373225?lang=zh_cn&edition=fundamental","pubTime":"2026-03-24 17:54","pubTimestamp":1774346065,"startTime":"0","endTime":"0","summary":"3月24日，商汤在港公告，2025年度，本集团实现总收入人民币50.15亿元，同比增长32.9%，为近三年最快。2025年度，本集团实现净亏损同比收窄58.6%至人民币17.82亿元、经调整净亏损同比收窄54.3%至人民币19.56亿元，已经实现连续四个半年同比加速减亏；2025下半年EBITDA为人民币3.76亿元，上市后首次转正。","market":"hk","thumbnail":"https://static.tigerbbs.com/3b2be8352a2da2e1aeca513d0b204831","type":0,"news_type":0,"thumbnails":["https://static.tigerbbs.com/3b2be8352a2da2e1aeca513d0b204831"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"","is_publish_highlight":true,"source_rank":0,"column":"","sentiment":"1","news_top_title":"商汤2025年总收入50.15亿元，同比增长32.9%","news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["00020"],"gpt_icon":0},{"id":"2621037754","title":"MiniMax长成了闫俊杰最需要警惕的样子","url":"https://stock-news.laohu8.com/highlight/detail?id=2621037754","media":"蓝鲸财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2621037754?lang=zh_cn&edition=fundamental","pubTime":"2026-03-24 11:55","pubTimestamp":1774324507,"startTime":"0","endTime":"0","summary":"而这，正是MiniMax现在最微妙的地方。所以到了MiniMax，这几乎成了闫俊杰重新定方向时最先修正的一件事：大模型和产品必须同时发力，技术不能悬在半空里，必须落到用户能感知的产品上。这条路走到最用力的时候，MiniMax甚至像一家重新长在大模型上的互联网公司。到2025年前九个月，MiniMax面向个人用户的AI原生产品已经贡献了约71.1%的收入，第二大收入源甚至直接来自Talkie/星野的广告。","market":"hk","thumbnail":"","type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://www.lanjinger.com/d/1774263586443863562","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"lanjinger_stock","symbols":["80020","BK1615","BK1613","BK1109","00020"],"gpt_icon":0},{"id":"2621372031","title":"商汤－Ｗ(00020)出现大手卖出150万股，成交价$1.89，涉资283.5万","url":"https://stock-news.laohu8.com/highlight/detail?id=2621372031","media":"阿斯达克财经","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2621372031?lang=zh_cn&edition=fundamental","pubTime":"2026-03-24 09:35","pubTimestamp":1774316100,"startTime":"0","endTime":"0","summary":"[大手成交]商汤－Ｗ(00020)在上午09:35出现大手卖出，成交量为150万，成交价为港币$1.89，涉资283.5万。至目前为止，股价升1.604%，今日最高价为$1.92，而最低价为$1.89，总成交量为2.637千万股，总成交金额港币$5.02千万。","market":"other","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20180205145549237_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20180205145549237_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAV2603241667/aamm-all-category","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAV2603241667/aamm-all-category","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"-1","news_top_title":null,"news_tag":"shareholding","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["80020","BK1613","BK1615","BK1109","00020"],"gpt_icon":0},{"id":"2621057857","title":"商汤徐立：加强中国化生态建设 加速“十五五”AI规模化落地","url":"https://stock-news.laohu8.com/highlight/detail?id=2621057857","media":"凤凰网港股","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2621057857?lang=zh_cn&edition=fundamental","pubTime":"2026-03-23 20:27","pubTimestamp":1774268864,"startTime":"0","endTime":"0","summary":"商汤科技董事长兼首席执行官徐立出席3月19日在北京举办的“国家新发展 香港新机遇‘十五五’开局研讨会”时指出，香港在AI模型发展的原创性与前沿探索上具备优势，可凭借研发突破推动产业变革；其现代服务业也能针对AI发展所催生的新需求开拓机遇，打造新兴品牌。他表示，商汤将加大力度推进中国芯片适配，支持中国生态建设，助力AI规模化落地，并积极推动智能体经济发展。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://finance.ifeng.com/c/8rjcYIcR6O6","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["00020","BK1109","BK1615","80020","BK1613"],"gpt_icon":0},{"id":"2621726868","title":"科网股持续走低 哔哩哔哩(09626)跌幅超5%","url":"https://stock-news.laohu8.com/highlight/detail?id=2621726868","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2621726868?lang=zh_cn&edition=fundamental","pubTime":"2026-03-23 11:06","pubTimestamp":1774235215,"startTime":"0","endTime":"0","summary":"金吾财讯 | 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| 商汤-W盘中大跌5%，或因遭遇密集大手卖出","url":"https://stock-news.laohu8.com/highlight/detail?id=1126106477","media":"异动解读","labels":["movement"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/1126106477?lang=zh_cn&edition=fundamental","pubTime":"2026-03-23 10:07","pubTimestamp":1774231645,"startTime":"0","endTime":"0","summary":"商汤-W(00020)今日盘中股价大幅下挫，跌幅达到5.00%，引起了市场参与者的关注。消息面上，根据多则交易数据显示，该股在开盘后不久即遭遇了一系列密集的大手卖出交易。从盘初至上午时段，陆续出现了多笔成交量在数十万至数百万股之间的卖出订单，成交价格集中在1.90至1.96港元区间，这些大额卖单可能对股价形成了显著的向下压力。尽管同期也有少量大手买入交易出现，但卖盘力量明显占优。市场分析认为，短时间内集中出现的大量卖出指令，通常是导致股价快速下跌的直接技术性原因。投资者需关注后续是否有更多基本面或消息面的因素披露。","market":"hk","thumbnail":"","type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":"","theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"-1","news_top_title":null,"news_tag":"movement","news_rank":0,"length":0,"strategy_id":0,"source":"ai_movement_cn","symbols":["00020"],"gpt_icon":0},{"id":"2621472876","title":"商汤－Ｗ(00020)出现大手卖出140万股，成交价$1.96，涉资274.4万","url":"https://stock-news.laohu8.com/highlight/detail?id=2621472876","media":"阿斯达克财经","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2621472876?lang=zh_cn&edition=fundamental","pubTime":"2026-03-23 09:30","pubTimestamp":1774229400,"startTime":"0","endTime":"0","summary":"[大手成交]商汤－Ｗ(00020)在上午09:30出现大手卖出，成交量为140万，成交价为港币$1.96，涉资274.4万。至目前为止，股价跌1.5%，今日最高价为$1.97，而最低价为$1.96，总成交量为397.5万股，总成交金额港币$782.332万。","market":"other","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20180126132514810_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20180126132514810_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAV26032339/aamm-all-category","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAV26032339/aamm-all-category","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"-1","news_top_title":null,"news_tag":"shareholding","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["80020","00020","BK1613","BK1615","BK1109"],"gpt_icon":0}],"pageSize":20,"totalPage":10,"pageCount":1,"totalSize":200,"code":"91000000","status":"200"}]}}