<p>界面新闻记者 | 陆可言</p>
<p>界面新闻编辑 | 温书琪</p>
<p>1 月 26 日下午，腾讯召开了 2025 年度员工大会。腾讯董事会主席兼首席执行官马化腾分享了公司过去一年的业务总结和战略思考，以及 2026 年的计划。</p>
<p>人工智能是马化腾首先提到的话题。</p>
<p>马化腾表示，2025 年将是人工智能的一个重要年份，而人工智能是腾讯唯一需要大量投资的业务线，目前也是唯一值得重金投入的领域。他认为，ChatGPT 和 DeepSeek 改变了人工智能发展的轨迹，但每家公司在不同的节奏中前行。过去业务的长久性确保了腾讯对人工智能的长期投资。马化腾说：“每家公司都有不同的基因和体质，腾讯的风格是稳健务实。” 他补充道，腾讯在人工智能战略上有自己的考量和节奏，核心是产品的长期竞争力和用户体验。目前，腾讯正在仔细考虑并持续开发各个业务板块和平台的新技能。马化腾提到，在过去一年中，腾讯对其人工智能基础设施和人才结构进行了系列调整，并在此过程中发现了一些问题，核心原因可能在于基础设施不足。为了应对长期竞争，腾讯逐步重组了整个人工智能研发团队，包括引入前 OpenAI 研究员姚舜宇。马化腾表示，腾讯将综合考虑大规模模型和人工智能产品，并将在未来采用跨职能、去中心化和共同设计的方式进行产品和组织设计。他还对字节跳动与中兴共同推出的斗宝手机，以及阿里巴巴的千问平台与各个阿里巴巴业务之间的协同进行了罕见的评论。他提到，腾讯始终明确反对使用黑市插件记录用户的手机和电脑屏幕并上传到云端，因为这 “极其不安全” 和 “不负责任”。他还认为，虽然阿里巴巴利用自身优势值得称赞，但也存在缺陷——用户不一定喜欢整个服务套件，生态系统内的所有服务也并非行业最佳。关于外界对微信生态系统的人工智能驱动智能的关注，马化腾认为这不应急于求成。腾讯仍需仔细考虑其底层逻辑，并以平衡用户需求和隐私安全的方式规划微信的智能生态系统。“我们不会控制所有的切入点。任何企业家都可以在微信的智能生态系统内创建自己的切入点，然后推广那个独特的切入点。我们只提供底层连接；这更科学。” 1 月 25 日，腾讯的元宝宣布将在春节期间发放 10 亿元现金红包，并悄然启动其人工智能社交功能 “元宝派” 的内部测试。马化腾表示，元宝希望将节省下来的营销费用转化为与用户共享的红包，并希望复制 2015 年春节微信红包的爆炸性成功。“元宝派” 的灵感来自腾讯会议的群聊，通过在现有的人工智能助手中添加群组，探索新的社交玩法——这是基于腾讯特点的新尝试。马化腾还总结和回顾了各业务单元在 2025 年的工作。IEG（互动娱乐事业群）再次获得马化腾的高度赞扬——“强得令人恐惧”。马化腾认为这是由于团队持续创新和学习，推出新方法，不断创造高质量内容，并完成其演变。腾讯总裁刘炽平提到，尽管全球游戏市场去年仅增长了 3%，但腾讯游戏增长了 23%，超出市场 20 个百分点以上。这主要得益于几款长期运营的游戏，包括《王者荣耀》、《和平精英》、《特种部队》、《火影忍者》、《英雄联盟》、《穿越火线手游》、《明朝》和《Valorant》（PC 和移动版）。此外，国际市场业务去年为腾讯游戏贡献了 30% 的收入，超过 100 亿美元。关于 CSIG（云与智慧产业事业群）去年发生的重大变化，马化腾表示，该业务与人工智能相关产品的整合更加紧密，包括 QQ 浏览器、腾讯会议和元宝。除了面向消费者的（C 端）业务外，云业务在 2025 年实现了规模化整体盈利，标志着一个里程碑式的突破。关于 WXG（微信事业群），马化腾认为微信仍然是腾讯的支柱，并寄予厚望。视频号和微信电商等业务有其自身的增长逻辑和轨迹。如何结合自身特点利用新技术需要更多的时间和耐心，以及在行动前的仔细规划。至于 PCG（平台与内容事业群），马化腾提到，包括 QQ、应用商店、腾讯新闻和腾讯视频在内的多个业务正在积极探索人工智能的整合能力，并取得了一定成果。然而，他也表示，腾讯视频在 2025 年没有 “那么多” 爆款产品，这与投资周期有关，需要足够的耐心。腾讯视频将在 2025 年面临短剧的竞争；除了继续投资高质量的长视频外，还将开发一些广告驱动的产品。“未来，人们的时间将变得越来越宝贵，因此帮助用户节省时间和提高效率非常重要。这也是我们如何将人工智能融入产品以提供帮助的一个考虑点。” 马化腾说。关于广告和金融支付业务，马化腾认为，尽管在人工智能的支持下，腾讯的广告收入快速增长，但其收入占比仍相对低于行业平均水平，表明未来商业发展的广阔前景。FiT（金融科技）将不追求速度，继续优先考虑安全。</p>

<p>在腾讯 2025 年年度员工大会上，首席执行官马化腾强调了人工智能作为公司关键投资领域的重要性，突出了其在 2026 年的战略意义。他讨论了腾讯在人工智能发展方面的稳健策略、近期在人工智能基础设施上的调整，以及人工智能研发团队的重组。马化腾还谈到了竞争、用户隐私以及人工智能在腾讯各个平台的整合。他赞扬了互动娱乐集团的表现，并指出腾讯游戏在热门游戏的推动下实现了显著增长。云业务实现了盈利，而微信仍然是未来增长的核心重点</p>

<p>Jiemian News Reporter | Lu Keyan</p>
<div class="lb-trans"><p>界面新闻记者 | 陆可言</p>
</div><p>Jiemian News Editor | Wen Shuqi</p>
<div class="lb-trans"><p>界面新闻编辑 | 温书琪</p>
</div><p>On the afternoon of January 26, Tencent held its 2025 Annual Employee Conference. Tencent Chairman and CEO Ma Huateng shared the company's business summary and strategic thinking over the past year, as well as its plans for 2026.</p>
<div class="lb-trans"><p>1 月 26 日下午，腾讯召开了 2025 年度员工大会。腾讯董事会主席兼首席执行官马化腾分享了公司过去一年的业务总结和战略思考，以及 2026 年的计划。</p>
</div><p>AI was the first topic Ma Huateng addressed.</p>
<div class="lb-trans"><p>人工智能是马化腾首先提到的话题。</p>
</div><p>Ma Huateng stated that 2025 will be a big year for AI, and AI is the only business line at Tencent that requires significant investment and is currently the only one worthwhile to invest heavily in. He believes that ChatGPT and DeepSeek have changed the course of AI development, but each company navigates cycles at a different pace. The longevity of its past businesses ensures Tencent's long-term investment in AI. &#34;Every company has different genes and constitutions, and Tencent's style is steady and pragmatic,&#34; Ma Huateng said. He added that Tencent has its own considerations and pace regarding its AI strategy, with the core being the long-term competitiveness of its products and user experience. Currently, Tencent is carefully considering and continuously developing new skills across its various business segments and platforms. Ma Huateng mentioned that in the past year, Tencent has made a series of adjustments to its AI infrastructure and AI talent structure, and in the process, it has also discovered some problems, the core reason of which may lie in insufficient infrastructure. To cope with long-term competition, Tencent has gradually restructured its entire AI R&amp;D team, including bringing in Yao Shunyu, a former OpenAI researcher. Ma Huateng stated that Tencent will consider large-scale models and AI products in an integrated manner, and will adopt a cross-functional, decentralized, and co-design approach for product and organizational design in the future. He also made rare comments on the Doubao phone jointly launched by ByteDance and ZTE, as well as the synergy between Alibaba's Qianwen platform and various Alibaba businesses. He mentioned that Tencent has consistently and unequivocally opposed the use of black-market plug-ins to record users' phone and computer screens and upload them to the cloud, as this is &#34;extremely insecure&#34; and &#34;irresponsible.&#34; He also believes that while Alibaba's leveraging of its strengths is commendable, it also has drawbacks—users may not necessarily like the entire suite of services, and not all services within the ecosystem are the best in the industry. Regarding the external attention on the AI-driven intelligence of the WeChat ecosystem, Ma Huateng believes that this should not be rushed. Tencent still needs to carefully consider the underlying logic and plan the intelligent ecosystem of WeChat in a way that balances user needs and privacy security. &#34;We won't control all entry points. Any entrepreneur can create their own entry point within WeChat's intelligent ecosystem and then promote that exclusive entry point. We only provide the underlying connection; this is more scientific.&#34; On January 25th, Tencent's Yuanbao announced it would distribute 1 billion yuan in cash red envelopes during the Spring Festival and quietly launched the internal testing of its AI social function, &#34;Yuanbao Pai.&#34; Ma Huateng stated that Yuanbao hopes to convert the saved marketing expenses into red envelopes shared with users and hopes to replicate the explosive success of WeChat red envelopes during the 2015 Spring Festival. The inspiration for &#34;Yuanbao Pai&#34; comes from Tencent Meeting's group chats, exploring new social gameplay by adding groups to the existing AI assistant—a new attempt based on Tencent's characteristics. Ma Huateng also summarized and reviewed the work of each business unit in 2025. IEG (Interactive and Entertainment Group) once again received high praise from Ma Huateng – &#34;frighteningly strong.&#34; Ma Huateng believes this is due to the team's continuous innovation and learning, introducing new approaches, constantly creating high-quality content, and completing its evolution. Tencent President Martin Lau mentioned that while the global gaming market grew by only 3% last year, Tencent Games grew by 23%, outperforming the market by over 20 percentage points. This was mainly due to the contributions of several long-running titles, including *Honor of Kings*, *Peacekeeper Elite*, *Delta Force*, *Naruto*, *League of Legends*, *CrossFire Mobile*, *Mingchao*, and *Valorant* (both PC and mobile versions). Furthermore, international market business contributed 30% of Tencent Games' revenue last year, exceeding $10 billion. Regarding the significant changes in CSIG (Cloud and Smart Industry Group) last year, Pony Ma stated that the business has more closely integrated AI-related products, including QQ Browser, Tencent Meeting, and Yuanbao. In addition to its consumer-facing (C-end) business, the cloud business achieved overall profitability at scale in 2025, marking a milestone breakthrough. Regarding WXG (WeChat Business Group), Ma Huateng believes that WeChat remains a mainstay of Tencent, and high hopes are placed on it. Businesses such as Video Accounts and WeChat e-commerce have their own growth logic and trajectory. How to leverage new technologies in conjunction with their own characteristics requires more time and patience, and careful planning before action. As for PCG (Platform and Content Business Group), Ma Huateng mentioned that multiple businesses, including QQ, App Store, Tencent News, and Tencent Video, are actively exploring AI integration capabilities and have achieved certain results. However, he also stated that Tencent Video doesn't have &#34;that many&#34; blockbuster products in 2025, which is related to the investment cycle and requires sufficient patience. Tencent Video will face competition from short dramas in 2025; besides continuing to invest in high-quality long-form videos, it will also develop some advertising-driven products. &#34;In the future, people's time will become increasingly precious, so helping users save time and improve efficiency is very important. This is also a point of consideration for how we can integrate AI into our products to help,&#34; Ma Huateng said. Regarding advertising and financial payment businesses, Ma Huateng believes that while Tencent's advertising revenue is growing rapidly with the support of AI, its revenue share is still relatively low compared to the industry average, indicating broad prospects for future commercial development. FiT (Financial Technology) will not pursue speed, continuing to prioritize security.</p>
<div class="lb-trans"><p>马化腾表示，2025 年将是人工智能的一个重要年份，而人工智能是腾讯唯一需要大量投资的业务线，目前也是唯一值得重金投入的领域。他认为，ChatGPT 和 DeepSeek 改变了人工智能发展的轨迹，但每家公司在不同的节奏中前行。过去业务的长久性确保了腾讯对人工智能的长期投资。马化腾说：“每家公司都有不同的基因和体质，腾讯的风格是稳健务实。” 他补充道，腾讯在人工智能战略上有自己的考量和节奏，核心是产品的长期竞争力和用户体验。目前，腾讯正在仔细考虑并持续开发各个业务板块和平台的新技能。马化腾提到，在过去一年中，腾讯对其人工智能基础设施和人才结构进行了系列调整，并在此过程中发现了一些问题，核心原因可能在于基础设施不足。为了应对长期竞争，腾讯逐步重组了整个人工智能研发团队，包括引入前 OpenAI 研究员姚舜宇。马化腾表示，腾讯将综合考虑大规模模型和人工智能产品，并将在未来采用跨职能、去中心化和共同设计的方式进行产品和组织设计。他还对字节跳动与中兴共同推出的斗宝手机，以及阿里巴巴的千问平台与各个阿里巴巴业务之间的协同进行了罕见的评论。他提到，腾讯始终明确反对使用黑市插件记录用户的手机和电脑屏幕并上传到云端，因为这 “极其不安全” 和 “不负责任”。他还认为，虽然阿里巴巴利用自身优势值得称赞，但也存在缺陷——用户不一定喜欢整个服务套件，生态系统内的所有服务也并非行业最佳。关于外界对微信生态系统的人工智能驱动智能的关注，马化腾认为这不应急于求成。腾讯仍需仔细考虑其底层逻辑，并以平衡用户需求和隐私安全的方式规划微信的智能生态系统。“我们不会控制所有的切入点。任何企业家都可以在微信的智能生态系统内创建自己的切入点，然后推广那个独特的切入点。我们只提供底层连接；这更科学。” 1 月 25 日，腾讯的元宝宣布将在春节期间发放 10 亿元现金红包，并悄然启动其人工智能社交功能 “元宝派” 的内部测试。马化腾表示，元宝希望将节省下来的营销费用转化为与用户共享的红包，并希望复制 2015 年春节微信红包的爆炸性成功。“元宝派” 的灵感来自腾讯会议的群聊，通过在现有的人工智能助手中添加群组，探索新的社交玩法——这是基于腾讯特点的新尝试。马化腾还总结和回顾了各业务单元在 2025 年的工作。IEG（互动娱乐事业群）再次获得马化腾的高度赞扬——“强得令人恐惧”。马化腾认为这是由于团队持续创新和学习，推出新方法，不断创造高质量内容，并完成其演变。腾讯总裁刘炽平提到，尽管全球游戏市场去年仅增长了 3%，但腾讯游戏增长了 23%，超出市场 20 个百分点以上。这主要得益于几款长期运营的游戏，包括《王者荣耀》、《和平精英》、《特种部队》、《火影忍者》、《英雄联盟》、《穿越火线手游》、《明朝》和《Valorant》（PC 和移动版）。此外，国际市场业务去年为腾讯游戏贡献了 30% 的收入，超过 100 亿美元。关于 CSIG（云与智慧产业事业群）去年发生的重大变化，马化腾表示，该业务与人工智能相关产品的整合更加紧密，包括 QQ 浏览器、腾讯会议和元宝。除了面向消费者的（C 端）业务外，云业务在 2025 年实现了规模化整体盈利，标志着一个里程碑式的突破。关于 WXG（微信事业群），马化腾认为微信仍然是腾讯的支柱，并寄予厚望。视频号和微信电商等业务有其自身的增长逻辑和轨迹。如何结合自身特点利用新技术需要更多的时间和耐心，以及在行动前的仔细规划。至于 PCG（平台与内容事业群），马化腾提到，包括 QQ、应用商店、腾讯新闻和腾讯视频在内的多个业务正在积极探索人工智能的整合能力，并取得了一定成果。然而，他也表示，腾讯视频在 2025 年没有 “那么多” 爆款产品，这与投资周期有关，需要足够的耐心。腾讯视频将在 2025 年面临短剧的竞争；除了继续投资高质量的长视频外，还将开发一些广告驱动的产品。“未来，人们的时间将变得越来越宝贵，因此帮助用户节省时间和提高效率非常重要。这也是我们如何将人工智能融入产品以提供帮助的一个考虑点。” 马化腾说。关于广告和金融支付业务，马化腾认为，尽管在人工智能的支持下，腾讯的广告收入快速增长，但其收入占比仍相对低于行业平均水平，表明未来商业发展的广阔前景。FiT（金融科技）将不追求速度，继续优先考虑安全。</p>
</div>

马化腾在内部员工会议上讨论了什么内容？