Tencent's Hybrid Model Open: Service Access and Innovative Application are the keys to development

Per reporter: Huang Bowen Per editor: Wang Keran

Recently, at the 2023 Tencent Global Digital Ecosystem Conference, the Tencent Hybrid Model was officially unveiled and announced that it was opened to the outside world through Tencent Cloud. As a general-purpose large model with more than 100 billion parameters, it will serve as the foundation of Tencent Cloud's MaaS (Mobility-as-a-Service) service and provide strong support for various business fields.

At present, more than 50 Tencent businesses and products have been connected to Tencent Hybrid Element Model Test, including Tencent Cloud, Tencent Advertising, Tencent Games and other core businesses. This set of facts further shows that the application level of large models is a key area for future competition.

It is worth noting that Baidu founder, chairman and CEO Robin Li also said a few days ago that "the volume model is meaningless, and the opportunity for volume application is greater".

On the track of large models, competition is in full swing. For a large model, its strength is not only reflected in its own performance, but more importantly, whether it can provide targeted solutions for various business scenarios. In the process of pursuing application development, large models also need to pay attention to differentiation to avoid homogeneous competition, so as to better meet user needs and establish the brand reputation of large models.

Major releases

Tencent Holdings (HK00700), Alibaba SW (HK09988), Baidu Group - SW (HK09888): Selected as the first large model alliance in China

On September 4~6, the 2023 China International Intelligent Industry Expo was held in Chongqing. At this year's Zhi Expo, Instant Consumer Finance Co., Ltd., Tencent Cloud, Alibaba Cloud, Huawei, and Baidu were selected into the Chongqing Big Model Alliance to jointly promote the development of Chongqing Big Model. It is reported that this is the first large model alliance in China, and Consumer Finance Co., Ltd. will immediately serve as the chairman unit of the alliance.

Comments: Chongqing Big Model Alliance is conducive to promoting the research and development of large models and the cultivation of industrial ecology, and is also conducive to promoting the cooperation of the government, industry, academia and research institutions to guide the sustainable and healthy development of the industry. As giants of China's Internet industry, Tencent, Alibaba, and Baidu have rich experience in artificial intelligence and cloud computing technology and can provide strong technical support.

Tencent Holdings (HK00700): The Tencent Hybrid Model was officially unveiled and opened to the public through Tencent Cloud

On September 7, at the 2023 Tencent Global Digital Ecosystem Conference, the Tencent Hybrid Model was officially unveiled and announced that it would be opened to the public through Tencent Cloud. It is reported that Tencent Hybrid Model is a general-purpose large language model independently developed by Tencent Full-link, with a scale of more than 100 billion parameters, which will be used as the foundation of Tencent Cloud MaaS services. At present, more than 50 Tencent businesses and products, such as Tencent Cloud, Tencent Advertising, and Tencent Games, have been connected to Tencent's hybrid model test.

Comments: Big models accelerate the industry into a new intelligent era, and cutting-edge technologies represented by artificial intelligence are becoming an important driving force for promoting scientific and technological innovation, industrial upgrading, and productivity leaps. As one of Tencent's important layouts in the field of artificial intelligence, the hybrid model reflects Tencent's core competitiveness in the field of artificial intelligence, and will provide more efficient and intelligent support for Tencent's various businesses and products.

Operational initiatives

Kweichow Moutai (SH600519): Jointly launched the "Sauce Latte" with Luckin Coffee, with sales exceeding 100 million yuan on the first day

On September 4th, the launching ceremony of "Luckin Coffee X Kweichow Moutai" strategic cooperation and the product launch of "Sauce Latte" were held at the flagship store of Luckin Coffee on Zhongshan Road, Xiamen, and the "Sauce Latte" jointly launched by Moutai and Luckin Coffee was also officially launched. According to the official Weibo of Luckin Coffee, the sales of "sauce latte" exceeded 5.42 million cups on the first day, and the sales exceeded 100 million yuan on the first day.

Comments: The joint name between Luckin Coffee and Kweichow Moutai is a combination of high-value brands and high-frequency consumption products, which can produce strong market influence and topicality. Through the joint name with Luckin Coffee, Kweichow Moutai can not only take advantage of the latter's channel advantages to promote its own products more widely, but also reach more young consumers and expand brand influence.

Industrial expansion

Meituan-W (HK03690): The fifth scenic route of Meituan UAV landed in Shenzhen Talent Park

On September 4, Meituan UAV's third normalized route in Nanshan District, Shenzhen officially started in Shenzhen Talent Park. Shenzhen Talent Park has become the fifth scenic spot in China after Shenzhen Window of the World, Splendid China and other scenic spots, landing drone delivery in China. As of the end of August 2023, Meituan UAV has landed in 7 business districts and 17 routes in Shenzhen, Shanghai and other cities, providing drone delivery services for 14 community office buildings and 4 5A-level scenic spots, and has completed more than 184,000 user orders.

Comments: Meituan UAV's new route in Shenzhen Talent Park is another application of its drone delivery service in complex urban formats. The route will provide fast and convenient takeaway delivery services for visitors in the park, which is expected to make the park a new Internet celebrity "check-in point" in the Houhai area, attracting more tourists and residents to understand and experience drone delivery services.

New products online

CATL (SZ300750): Released "Shenxing Supercharge Battery"

On September 4, IAA MOBILITY 2023 was officially launched in Munich. At the conference, CATL released the world's first 4C supercharged battery that uses lithium iron phosphate material and can support large-scale mass production - Shenxing supercharged battery. In addition, CATL also exhibited sodium-ion batteries, M3P (a ternary material battery) battery, condensed matter battery, Kirin battery, Shenxing supercharged battery and other products, as well as EVOGO (a battery exchange brand) power exchange, Qi Ji power exchange and other solutions for different scenarios.

Comments: According to the European Automobile Manufacturers Association, the number of new energy passenger vehicles registered in 31 European countries this year was 1.419 million, a year-on-year increase of 26.8%, and the penetration rate of new energy vehicles reached 21.5%. Europe is accelerating towards full electrification, and the market has a strong demand for high-quality power batteries with comprehensive performance. The Shenxing supercharged battery released by CATL can greatly alleviate the anxiety of European consumers to replenish energy, and the future market space is broad.

BYD (SZ002594): The new mid-size hybrid sedan Seal DM-i was officially launched

On September 6, BYD Ocean Network's new mid-size hybrid sedan Seal DM-i (a model) was officially launched, with a total of 6 models priced at 166,800 yuan ~ 236,800 yuan. It is reported that the new car is based on the new DM-i super hybrid mid-size car platform, with a body size of 4980×1890×1495mm and a wheelbase of 2900mm, and a comprehensive range of more than 1300 kilometers with full fuel and electricity (NEDC working conditions, new European driving cycle).

Comments: The Seal DM-i not only surpasses the mainstream mid-size sedan in body size, but also has a comprehensive range of more than 1,300 kilometers when fully fueled, showing strong endurance and fuel economy. Its listing fully reflects BYD's R&D strength and technical achievements in the field of new energy vehicles.

Technological innovation

China Mobile (SH600941): Joined hands with ZTE and others to complete the simulation verification of relevant low-orbit satellite laboratories

Recently, China Mobile, ZTE and Keysight jointly completed the simulation verification of the NR-NTN (New Radio-Non-terrestrial Network) low-orbit satellite laboratory of the first operator in China, supporting mobile satellite broadband services. This test verifies that the 3GPP R17 NR-NTN international standard is adopted, and the technical feasibility of mobile phones directly connected to low-orbit satellites in the two basic networking modes of NR-NTN transparent forwarding and on-board regeneration is successfully verified, and the end-to-end full-link penetration and data transmission verification are realized.

Comments: NR-NTN, as a mobile phone directly connected broadband satellite technology system, is the future evolution direction of space-space-ground integration. This laboratory test scheme successfully verifies the landing capability of 3GPPR17NR-NTN technology, creates a solid technical foundation for the extension of ground network to the global three-dimensional space, and is of great significance for further promoting the deep integration of satellite and ground network industry chain, research on satellite-ground synergy technology, and accelerating the construction of a space-ground integrated network that meets the needs of the public, industry, emergency and other types of ubiquitous connections and ubiquitous scenarios.

Baidu Group-SW(HK09888): Awarded the 1,000th autonomous driving test license in Wuhan

On September 5th, the "Cohesion, Intelligent Start-up" Intelligent Networked Vehicle Innovation and Application Development Forum was held in Baidu Radish Express Car Robot Zhixing Valley in Wuhan Economic Development Zone, and the Central China Regional Center of the National New Generation Artificial Intelligence Open Innovation Platform for Autonomous Driving landed in China Auto Valley at the same time. It is reported that the center is jointly built by Wuhan Economic Development Zone and Baidu Group. At the event, Wuhan issued the 1,000th autonomous driving test license of the National Intelligent Connected Vehicle (Wuhan) Test Demonstration Zone to Baidu Group.

Comments: With the rapid development of the new energy vehicle market, the intelligent networked vehicle industry has also shown a rapid growth trend. The landing of the Central China Regional Center, a new generation of artificial intelligence open innovation platform for autonomous driving, will accelerate the research of key core technologies and radiate the high-quality development of the autonomous driving and intelligent networked vehicle industry in Central China.

Executive information

Baidu Group-SW(HK09888): Robin Li: The volume model is meaningless, and the opportunity for volume application is greater

On September 5, at the 2023 Baidu Cloud Intelligence Conference, Baidu founder, chairman and CEO Robin Li said that the model itself does not directly generate value, and the application developed based on the basic large model is the meaning of the model's existence.

Comments: The continuous progress and application innovation of AI technology are constantly promoting the change and development of the industry. Robin Li's view shows the development trends and opportunities of the entire industry, and has important enlightenment for the definition and requirements of AI native applications.

Personnel changes

Shanghai Pudong Development Bank (SH600000): nominated Zhang Weizhong and Zhao Wanbing as director candidates, and appointed Kang Jie as vice president

On September 8, Shanghai Pudong Development Bank issued an announcement that due to job transfers, Zheng Yang resigned as chairman and executive director of the company; Pan Weidong resigned as vice chairman, executive director and president of the company. The board of directors of the company agreed to nominate Zhang Weizhong and Zhao Wanbing as candidates for directors of the company, and agreed to appoint Kang Jie as the vice president of the company.

Comments: It can be seen from the public information that Zhang Weizhong was deeply engaged in the field of inclusive finance during his work at CCB; Zhao Wanbing has held important positions in the Party Committee and Financial Office of Shanghai Financial Work, and has rich work experience and professional knowledge; Kangjie has extensive experience in banking and has also held leadership positions in the Shanghai State-owned Assets Supervision and Administration Commission. They will bring a wealth of industry experience to SPD Bank.

Important cooperation

Midea Group (SZ000333): Signed a strategic cooperation agreement with China Construction Third Engineering Bureau

On September 6, Midea Group signed a strategic cooperation agreement with the Group Headquarters of China Construction Third Engineering Bureau in Midea. The two parties will carry out comprehensive and in-depth cooperation in engineering construction, smart buildings and smart parks, robot business and other fields, and jointly develop the intelligent and digital service market.

Comments: With the wide application of digital technology, the development of intelligent buildings and smart parks has attracted more and more attention. The cooperation will have a positive impact on Midea Group's corporate business and smart campus expansion, and will also promote the continuous innovation and development of smart building and smart campus related technologies and solutions.

Shanghai Pharmaceutical (SH601607): Held a strategic cooperation signing ceremony with CSPC Pharmaceutical Group

On September 5th, Shanghai Pharmaceutical and CSPC Pharmaceutical Group held a strategic cooperation signing ceremony in Shanghai. The two parties will carry out in-depth exploration in various aspects such as hospital market development and innovative business development, and continue to promote the business development of the whole value chain.

Comments: CSPC is in a leading position in the field of drug research and development, production and sales, and Shanghai Pharmaceutical also has significant advantages in pre-market services, national market access and innovative value-added services. This cooperation will promote the complementary advantages and resource sharing between the two parties in the fields of drug research and development, production and sales, and further consolidate the strategic partnership.

JD.com-SW(HK09618): Signed a strategic cooperation agreement with Hong Kong Yuhu Group

Recently, Jingdong Group signed a strategic cooperation agreement with Hong Kong Yuhu Group. According to the agreement, the two parties will jointly build a digital low-carbon cold chain smart park and reach comprehensive cooperation in the fields of supply chain financial services, food supply chain, park dual carbon management, and enterprise services.

Comments: With the growing demand for cold chain logistics, the development prospects of the cold chain food supply chain are broad. According to the "China Trade and Logistics Development Report (2022)" released by the Ministry of Commerce, the scale of China's cold chain logistics market reached 491.6 billion yuan in 2022, a year-on-year increase of 7.2%. This cooperation will promote the intelligent, green and efficient development of China's cold chain logistics industry through the construction of digital low-carbon cold chain smart parks.

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