According to a research report published by Morgan Stanley, Tencent's Hybrid Enterprise released the official version of Hy4 yesterday. Comprehensive capabilities such as following instructions, understanding long texts, long-range tasks, and in-depth research have been greatly improved, and visual and computer operation capabilities have been added. It can handle image details, complex charts, and visual mathematics, and can also operate computers through a graphical interface and command line. According to the bank, Hy4's productivity performance in real scenarios has substantially improved, leading the domestic model in terms of office collaboration, and also has a high rating in the financial scenario. It indicates that the Hy4 API price remains unchanged, at 0.3, 6, and 18 yuan per million cached input, and output tokens, respectively. Tencent plans to soon open source the model weight and expand the training scale to narrow the gap with the closed source model. Tencent is also planning to launch a faster, lower-cost Hy4 Flash. Damo believes that WorkBuddy's wider adoption in various industries and deeper integration with WeCom/Buddy One will help strengthen the feedback cycle, speed up model iteration, support enterprise AI applications, and maintain Tencent's “gain” rating and target price of HK$550.

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