Core Insights - The A-share market has seen increased activity and emerging themes following the "opening red" in 2026, with a shift in broker research focus towards AI applications and brain-computer interfaces (BCI) [1][2] Group 1: Broker Research Trends - Broker research is increasingly focusing on high-growth industries, performance certainty, and valuation attractiveness, reflecting three major trends: a balanced investment style, a shift from speculative trading to performance realization, and a focus on domestic self-sufficiency and global competitiveness [2][7] - From January 1 to January 14, 2026, over 260 A-share companies were researched by institutions, with more than 230 receiving broker attention, highlighting a strong interest in companies like 壹网壹创, 成都先导, and 翔宇医疗 [3][4] Group 2: Key Companies and Their Focus - 壹网壹创, a leading company in the GEO concept, received attention from 27 brokers, focusing on its R&D investments and partnerships with platforms like Alibaba [4][5] - Other notable companies include 凯盛科技 and 海天瑞声, which received 22 and 21 broker inquiries respectively, with a focus on technological innovation in their respective fields [4] - Companies like 爱朋医疗, 中集集团, and 振江股份 also garnered significant broker interest, indicating a diverse range of sectors being explored [4] Group 3: Market Performance and Investment Opportunities - The AI application index and GEO index saw increases of 18.30% and 44.14% respectively from January 5 to January 15, 2026, indicating strong market interest in these sectors [8] - The global GEO market is projected to reach $24 billion by 2026 and $100 billion by 2030, with domestic expectations of reaching 11.1 billion yuan in 2026 [10] - Investment opportunities are emerging in the AI marketing sector, with a focus on companies that can leverage marketing technology and content creation [10][11] Group 4: Brain-Computer Interface (BCI) Insights - The BCI sector is expected to see significant growth, with applications in various fields such as healthcare and consumer products, driven by technological advancements and diverse application scenarios [12][13] - The global BCI market is projected to reach $7.63 billion by 2029, highlighting the potential for substantial investment opportunities in this emerging field [13]

Core Viewpoint - The company is expanding its overseas operations and focusing on high-growth areas such as embodied intelligence data, leveraging its capabilities in data annotation and management to meet increasing global demand for high-quality training data [1][2][3][4][5][8]. Group 1: Overseas Base Development - The company plans to integrate a Southeast Asia-based annotation center with over 1,000 personnel by 2024, expecting to generate millions in revenue by 2025 [1][3]. - A second local delivery base in Southeast Asia is planned for 2026, which will add approximately 500 personnel to support the outbound business of Chinese tech companies and customized orders from North American clients [1][3]. Group 2: Traditional Training Data Business Drivers - The demand for high-quality, multilingual, and scenario-based training data is driven by the rapid deployment of global AI applications [4][5]. - Key product lines include multilingual speech recognition data, handwritten data for financial document recognition, and multilingual text data for natural language understanding [4][5]. Group 3: Government Business Collaboration - The company has established a clear collaboration model with local governments, focusing on building high-quality industry datasets based on local characteristics and ensuring data security [7]. - Recent projects include partnerships with cities like Chengdu and Changsha, and the completion of initial data deliveries in Hohhot and Guangxi [7]. Group 4: Embodied Intelligence Data Business - The company views embodied intelligence data as a high-growth emerging sector and has formed a dedicated team to explore opportunities in various cities [8]. - Collaborations with robotics manufacturers and tech giants are underway to meet the demand for high-quality training data in real-world scenarios [8]. Group 5: Competitive Advantages in Training Data - The company has developed a dual-mode service product model, which significantly contributes to revenue and gross profit, ensuring scalability and high profit margins [9]. - Investment in technology and supply chain management enhances the company's capabilities in algorithm development and data security compliance [9][10]. - The company has achieved important certifications, including ISO/IEC 27001, ensuring robust data security and compliance with international regulations [10]. Group 6: Pricing and Market Dynamics - The pricing model for customized services is based on cost-plus pricing, while product pricing follows a demand-driven approach [11][12]. - Market dynamics dictate that scarce data types maintain premium pricing, while more mature segments face price competition, prompting the company to focus on high-barrier, high-margin niches [12].

Core Viewpoint - The company is expanding its overseas operations and focusing on high-growth areas such as embodied intelligence data, leveraging its capabilities in data annotation and management to meet increasing global demand for high-quality training data. Group 1: Overseas Base Development - The company plans to integrate a Southeast Asia-based annotation center with over 1,000 personnel by 2024, expected to generate millions in revenue by 2025, and aims to establish a second base in the region by 2026, adding approximately 500 personnel [1][3] - This expansion supports the company's ability to handle outbound business for Chinese tech firms and customized orders from leading North American clients [3] Group 2: Traditional Training Data Business Drivers - The demand for high-quality, multilingual, and scenario-based training data is driven by the rapid deployment of global AI applications [4] - Key product lines include multilingual speech recognition data, handwriting data for financial document processing, and multilingual text data for natural language understanding [4][5] Group 3: Government Business Collaboration - The company has established a clear collaboration model with local governments, focusing on building high-quality data sets based on local characteristics, ensuring data security, and developing data trading platforms [7] - Recent projects include partnerships with cities like Chengdu and Changsha, and the completion of initial data sets for Hohhot and the Guangxi ASEAN corpus [7] Group 4: Embodied Intelligence Data Business - The company views embodied intelligence data as a high-growth sector and has formed a dedicated team to explore opportunities in various cities [8] - Collaborations with robotics manufacturers and tech giants are underway to meet the demand for high-quality training data in real-world applications [8] Group 5: Competitive Advantages in Training Data - The company has developed a dual-service product model, with significant contributions from productization, ensuring high profit margins and scalability [9] - Emphasis on technological development, supply chain management, and data security compliance has strengthened its competitive position [9][10] - The company has achieved important certifications, enhancing its reputation and compliance with international and domestic regulations [10] Group 6: Pricing and Revenue Models - Custom services are priced using a cost-plus model, while product pricing is demand-driven, allowing flexibility based on market conditions [12] - The pricing strategy is influenced by supply and demand dynamics, with high-value data maintaining premium pricing, while more mature segments face price competition [12]

Core Viewpoint - The recent pullback of the Huabao Sci-Tech AI ETF (589520) after reaching a historical high is seen as a buying opportunity by investors, reflecting strong confidence in the domestic AI industry chain [1][3]. Group 1: ETF Performance - The Huabao Sci-Tech AI ETF (589520) experienced a decline of 2.71% after hitting a record high, with a trading volume exceeding 55 million yuan within half a day [1]. - Over the past three days, the ETF attracted a total of 121 million yuan in investments, indicating positive market sentiment towards the domestic AI industry chain [1]. Group 2: Component Stocks - Among the component stocks, Yaxin Security led with a gain of over 4%, while Hehe Information rose by more than 3%. Other notable gainers included Chipone Technology, Lattice Semiconductor, and Qi Anxin, each increasing by over 1% [3]. - Conversely, XH Technology saw a decline of nearly 20%, approaching its daily limit down, while Zhongke Shuguang and Haitan Ruisheng fell by over 18% and 11%, respectively, negatively impacting the index performance [3]. Group 3: Industry Developments - The Ministry of Industry and Information Technology recently issued a plan for the high-quality development of industrial internet platforms from 2026 to 2028, marking a new phase in China's industrial internet development [3]. - The plan introduces the concept of "industrial intelligence," emphasizing the deep integration of AI into the entire industrial chain, which is expected to revolutionize traditional manufacturing practices [3]. Group 4: AI Industry Outlook - The AI industry is transitioning from a focus on AIGC (Artificial Intelligence Generated Content) to applications in manufacturing, with the potential for AI to become a true productivity tool [3]. - According to CITIC Securities, the synergy between self-control and AI is expected to drive strong performance in related sectors by 2025, with this trend likely to strengthen further in 2026 [3]. Group 5: ETF Composition and Strategy - The Huabao Sci-Tech AI ETF (589520) is strategically diversified across four key segments: application software, terminal applications, terminal chips, and cloud chips, reflecting the current state of the AI industry chain [4]. - The ETF emphasizes domestic alternatives, with over 70% of its top ten holdings in the semiconductor sector, indicating a high concentration and aggressive positioning [5].

1月15日，A股市场AI应用板块全线回调，其中，光云科技20CM跌停，天龙集团逼近20CM跌停，值得 买跌超18%，蓝色光标跌12%，拓尔思、因赛集团跌超10%，浙文互联、岩山科技、天下秀10CM跌 停，海天瑞声、福石控股、省广集团、兆讯传媒跌超9%，川网传媒、欢瑞世纪、博瑞传播跌超8%。 | 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 688365 | 光云科技 | 1 | -20.00 | 117亿 | 62.18 | | 300063 | 天龙集团 | 1 | -19.97 | 106亿 | 62.78 | | 300785 | 值得买 | 4 | -18.18 | 136亿 | 56.64 | | 300058 | 蓝色光标 | 1 | -12.02 | 683亿 | 65.19 | | 300229 | 拓尔思 | + | -10.49 | 241亿 | 38.89 | | 300781 | 因悪集团 | | -10.34 | 74.90亿 | 31.17 | | 600986 | 浙文互联 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the Sci-Tech Innovation Artificial Intelligence ETF (589010), which has surged by 3.00% and shows a "highly active" trading pattern, indicating robust market interest in AI-related stocks [1] - Key stocks within the ETF, such as Hai Tian Rui Sheng, have seen significant gains, with Hai Tian Rui Sheng leading with an increase of nearly 11%, while other core companies like Zhong Ke Xing Tu, Xin Yuan Co., and Heng Xuan Technology have all risen over 7%, reflecting a collective surge in the industry chain [1] - The trading volume exceeded 300 million yuan, with a turnover rate surpassing 10%, demonstrating strong market liquidity and a high level of enthusiasm for the AI sector's recovery and long-term growth potential [1] Group 2 - The news mentions that Qianwen's monthly active users have surpassed 10 million within two months of its launch, showing rapid growth among students and white-collar workers, despite competition from other platforms that have imposed restrictions on Qianwen [1] - Open Source Securities indicates that the phase of chaotic competition has ended, transitioning to a competitive landscape characterized by multiple strong players, with the development of large model technology moving beyond the initial "hundred model war" phase into a period focused on core technological breakthroughs and commercial value validation [1] - The general foundational model sector has completed its first round of market consolidation, with the number of core competitors rapidly decreasing from over a hundred, marking a strategic shift in the industry from capital-driven growth to the establishment of technological barriers [1]

Core Viewpoint - The A-share market has seen strong performance in computing power concept stocks, with several companies experiencing significant price increases and market capitalization growth [1]. Group 1: Stock Performance - Hongjing Technology (301396) reached a 20% increase, with a total market value of 13.4 billion and a year-to-date increase of 31.31% [2]. - Haitan Ruisheng (688787) rose by 14.55%, with a market capitalization of 11.4 billion and a year-to-date increase of 62.97% [2]. - Runze Technology (300442) increased by 14.30%, with a market value of 150.5 billion and a year-to-date increase of 74.39% [2]. - Yihualu (300212) saw a 13.26% rise, with a market capitalization of 16.9 billion and a year-to-date increase of 34.61% [2]. - Senyuan Co., Ltd. (300210) increased by 11.17%, with a market value of 5.447 billion and a year-to-date increase of 26.55% [2]. - Zhejiang Wenhu (600986) rose by 10.04%, with a market capitalization of 18.4 billion and a year-to-date increase of 58.44% [2]. - Dawi Technology (600589) increased by 10.01%, with a market value of 16.2 billion and a year-to-date increase of 51.96% [2]. - People's Daily Online (603000) rose by 10.01%, with a market capitalization of 31 billion and a year-to-date increase of 47.14% [2]. - Fenghuo Communication (600498) increased by 10%, with a market value of 66.2 billion and a year-to-date increase of 51.96% [2]. - Hengwei Technology (603496) rose by 9.99%, with a market capitalization of 12.7 billion and a year-to-date increase of 44.83% [2]. - Data Port (603881) increased by 9.99%, with a market value of 27.7 billion and a year-to-date increase of 26.59% [2]. - Zhizhen Technology (003007) rose by 9.99%, with a market capitalization of 6.086 billion and a year-to-date increase of 60.28% [2]. - Tianyu Dike (300047) increased by 9.94%, with a market value of 9.872 billion and a year-to-date increase of 23.35% [2]. - Longxin Zhongke (688047) rose by 9.89%, with a market capitalization of 65.3 billion and a year-to-date increase of 23.35% [2]. - Zhongke Jincai (002657) increased by 8.52%, with a market value of 11 billion and a year-to-date increase of 7.94% [2]. - Tongniu Information (300895) rose by 8.37%, with a market capitalization of 8.11 billion and a year-to-date increase of 30.46% [2]. - Cloudwalk Technology (688327) increased by 8.10%, with a market value of 18.8 billion and a year-to-date increase of 26.30% [2]. Group 2: Market Signals - The formation of a MACD golden cross signal indicates a positive trend for these stocks [1].

Group 1 - The A-share market saw strong performance in computing power concept stocks, with several companies hitting the daily limit up [1] - Hongjing Technology experienced a 20% increase, reaching a market capitalization of 13.4 billion [2] - Haitan Ruisheng and Runze Technology both rose over 14%, with market capitalizations of 11.4 billion and 150.5 billion respectively [2] Group 2 - Yihualu increased by over 13%, with a market cap of 16.9 billion and a year-to-date increase of 34.61% [2] - Senyuan Co. saw an increase of over 11%, with a market cap of 5.447 billion [2] - Other notable performers included Zhejiang Wenhulian, Dawi Technology, and People's Daily, each rising by around 10% [2]

证券代码：688787 证券简称:海天瑞声 公告编号：2026-001 重要内容提示： 北京海天瑞声科技股份有限公司（以下简称"公司"）股票连续3个交 易日（2026年1月9日、2026年1月12日、2026年1月13日）收盘价格涨幅 偏离值累计达到30%，根据《上海证券交易所交易规则》《上海证券交 易所科创板股票异常交易实时监控细则》的有关规定，属于股票交易异 常波动情形。 经公司自查并书面问询公司控股股东、实际控制人，截至本公告披露日， 公司日常经营情况正常，未发生重大变化。公司不存在应披露而未披露 的重大信息。 由于人工智能行业整体发展较为迅速，应用领域和应用场景不断拓展， 下游需求随着行业发展不断发生变化，公司进行数据开发所需的各项技 术也面临着快速迭代的风险；公司业务相关的一体化智能数据处理平台 接入并适配了外部第三方大模型，但公司自身未从事人工智能基座大模 型的开发。请广大投资者审慎决策、理性投资。 截至2026年1月13日，公司股票收盘价为165.02元/股，根据中证指数有 限公司发布的最新数据，公司滚动市盈率为821.41倍，公司所处的软件 和信息技术服务业行业最近一个月平均滚动市盈率为72. ...

每经AI快讯，1月13日，海天瑞声(688787.SH)发布异动公告，由于人工智能行业整体发展较为迅速，应 用领域和应用场景不断拓展，下游需求随着行业发展不断发生变化，公司进行数据开发所需的各项技术 也面临着快速迭代的风险；公司业务相关的一体化智能数据处理平台接入并适配了外部第三方大模型， 但公司自身未从事人工智能基座大模型的开发。请广大投资者审慎决策、理性投资。 ...