Core Viewpoint - The government work report emphasizes the development of a "new intelligent economy" and the integration of technology and industry, highlighting the importance of artificial intelligence (AI) and its application across various sectors [4][5][6]. Group 1: Intelligent Economy - The report introduces the concept of "new intelligent economy," calling for the promotion of new intelligent terminals and AI applications in key industries [4][5]. - Industry leaders express strong support for the government's focus on AI, indicating a shift from AI as a mere technology to a driver of value creation across sectors [5][6]. - The report outlines the need for deep integration of technology innovation and industrial innovation, marking a significant trend in the economy [6]. Group 2: Technological Infrastructure - The report mentions the implementation of large-scale intelligent computing clusters and the need for coordinated power supply, suggesting a focus on enhancing the efficiency of energy and computing resources [7]. - Recommendations include establishing a unified national electricity market to support intelligent computing centers and reduce energy costs for AI development [7]. Group 3: Future Industries - The report emphasizes the cultivation of future industries such as quantum technology, embodied intelligence, and 6G, indicating a strategic focus on advancing new productive forces [12][15]. - Industry representatives highlight the importance of developing quantum communication and embodied intelligence, with a call for government support in overcoming common challenges in these fields [12][15]. Group 4: International Logistics and Trade - The report stresses the need to strengthen international logistics systems and expand digital trade, which is seen as beneficial for companies engaged in global supply chain services [16][17]. - Companies are adapting to a shift from "stocking mode" to "branding mode" in cross-border logistics, necessitating higher standards for logistics stability and compliance [16]. Group 5: AI and Data Security - The report raises concerns about data security and user authorization in AI applications, highlighting the need for regulatory frameworks to address potential issues arising from data usage [9][10]. - Experts emphasize the importance of user rights and data protection in the deployment of AI agents, advocating for clear guidelines on data handling and user consent [10].

与此同时，X2也被归纳为一次面向可用性的升级：数学、语言理解、推理、翻译等能力继续加强， 同时更强调智能体能力与工程化部署效率——这些听起来"偏底层"的变化，恰恰决定了终端产品在 真实场景里能否跑得稳、跟得上、扛得住。 MWC展台上那副40克的眼镜，其实把底座能力的难点展示得很具体：同传不是简单的"翻译"，它要 在嘈杂环境里先把声音听清、把人声分离、把语义理解连贯起来，再把译文以低时延输出。展会现场 的噪声、混响、多人叠话、口音差异、临场表达，是对识别和翻译最不友好的变量。眼镜提出的唇动 识别多模态降噪思路，像是把问题拆开重做：让摄像头提供额外信号，让骨传导麦克风提供更干净的 声源线索，再把音视频信息融合，去锁定目标讲话人。 3月2日至3月5日，MWC 2026的巴塞罗那展馆里，AI眼镜几乎成了每个展台都想抓住的"下一代入 口"。 科大讯飞把这股风潮具象化成一副更有刚需场景的产品：讯飞AI眼镜首次亮相，主打把多模态同声传 译集成进日常佩戴的眼镜形态里，语音翻译与视觉翻译同时工作，面向跨国会议、商务洽谈、海外展 会等跨语言沟通场景；在展会、酒会这类高噪环境中，它用摄像头捕捉讲话人的唇部运动，再结合骨 传导麦克风 ...

Core Insights - The article discusses the competitive landscape of AI products following the 2026 Spring Festival, highlighting significant user growth and market shifts among leading AI applications [4][20]. Global Rankings - ChatGPT remains the top AI application globally with 955.6 million Monthly Active Users (MAU), showing a growth rate of 2.69% [34]. - Domestic AI application Doubao surged to second place with 315.31 million MAU, experiencing an impressive growth of 87.38% [34]. - Qianwen, another domestic AI product, climbed to third place with 202.69 million MAU, marking a staggering growth of 552.83% [34]. Domestic Rankings - The domestic AI landscape has been reshaped, with Doubao and Qianwen dominating the top two spots, followed by Quark, DeepSeek, and Tencent Yuanbao [12][13]. - Doubao's MAU growth is attributed to its integration into various Spring Festival activities, while Qianwen's growth is linked to substantial subsidies from Alibaba [13][20]. Overseas Rankings - DeepSeek leads the overseas market with 132.57 million MAU, showing stable growth of 2.26% [16]. - Dola, the overseas version of Doubao, ranks second with 59.98 million MAU, growing by 12.61% [17]. - Talkie AI has emerged as the fastest-growing overseas product with a 13.45% increase, reaching 26.27 million MAU [30]. Subscription Revenue Rankings - Gemini leads in subscription revenue with $17.87 million, followed by Claude with $43.41 million [33]. - The subscription revenue growth rates for these products indicate a strong market demand for premium AI services [33]. User Retention Concerns - The article raises questions about whether the user growth observed during the Spring Festival can be sustained in the long term, emphasizing the need for ongoing engagement strategies [20].

Core Insights - iFLYTEK showcased its end-to-end AI ecosystem at MWC Barcelona 2026, emphasizing the theme "AI CONNECTING IDEAS" and demonstrating secure, locally adapted AI deployment across public services and enterprises [1][3] Group 1: AI Ecosystem Overview - The exhibition features three zones: AI Engine Plaza, Smart Solution Zone, and AI Translation Hub, presenting a comprehensive AI ecosystem from foundational infrastructure to industry applications and user-facing devices [3] - AI Engine Plaza focuses on secure, private, and customizable AI infrastructure for enterprise and government deployment, integrating computing power and dual large-model engines into an on-premises system [5][6] Group 2: AI Solutions and Applications - The All-In-One AI Solutions enable customized, private deployment for governments and enterprises, ensuring compliance with data sovereignty [5] - The Agent Platform allows rapid development and deployment of AI applications tailored to specific business workflows, enhancing operational efficiency [6] Group 3: Smart Solutions for Services - The Smart Solution Zone highlights virtual human technologies that enhance public and commercial services, exemplified by Spark GuideX, an AI-powered virtual human that integrates multiple services into a single interface [7][8] Group 4: Multilingual Communication Technologies - The AI Translation Hub features multilingual AI solutions, including AINOTE 2, which integrates real-time transcription, multilingual translation, and intelligent summarization for effective communication [10] - New products such as iFLYTEK AI Glasses and AI Interpret Mic were also introduced, addressing AI translation needs across various settings [11]

GenAI+教育行业 丨发展报告 摘要： 2025 年是中国智慧教育的元年，随着 DeepSeek 等国产大模型在推理效率与开源生态上的跨越式发展， GenAI 技术逐渐成为重构教育生产力的逻辑底座。模 型能力的爆发式增长，使得实时、交互、个性化的知识生成与情感陪伴成为可能。国家高度重视人工智能对教育的深刻影响，并将教育数字化确立为建设教育强国的 核心突破口。教育部等九部门联合印发 《 关于加快推进教育数字化的意见 》 作 为 教育数字化转型的纲领性文件，将 GenAI 视为深度赋能教学模式变革、科研范 式转型与实现因材施教的核心路径。 本 报告采用了 定量分析与定性调研相结合的混合研究方法，旨在通过对校端采购、 C 端用户行为以及供给端企业策略的深度拆解，构建一套 2025 年以来 GenAI+ 教育行业的航海图，挖掘技术商业逻辑，识别痛点场景，并为从业者提供实操性决策参考。 在本报告的撰写过程中，我们始终贯穿着一个核心思考： 教育的技术边界在哪里？ 我们基于研究提出了 40/60 分割 ，即教育过程中约 40% 的部分属于技术工具 化范畴，而剩下的 60% 则是人类的主场服务，涉及情感唤醒、价值塑造、悟性 ...

研 究 专 题 新 股 发 行 相关研究 证券分析师 彭文玉 A0230517080001 pengwy@swsresearch.com 朱敏 A0230524050004 zhumin@swsresearch.com 任奕璇 A0230525050002 renyx2@swsresearch.com 联系人 朱敏 A0230524050004 zhumin@swsresearch.com 本研究报告仅通过邮件提供给 博时基金 博时基金管理有限公司(researchreport@bosera.com) 使用。1 ______________________________________________________________________________________________________________________________________ 2026 年 03 月 02 日 参与热度创新高，行业β加剧分化 - 证 券 研 究 报 告 ——定增市场双周报 2026.02.09-2026.03.01 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 定增双周报 ⚫ 过 ...

Current Strategy Viewpoints - The capital market experienced fluctuations in early February but rebounded later in the month, primarily due to reduced trading activity before the Spring Festival and short-term policy guidance [1] - The market is expected to enter a phase of economic data and policy verification, with a seasonal increase in trading activity post-Spring Festival, laying a foundation for future market performance [1] - Upcoming economic and corporate profit data, along with the National People's Congress in March, will be crucial for setting the annual policy tone and economic targets, which are significant for the capital market [1] Sector Focus - Short-term focus on safe-haven assets and resource products due to tensions in the Middle East, including precious metals and oil sectors [2] - Long-term focus on growth and cyclical sectors, with particular attention to small-cap stocks that typically perform well in spring [2] - Key sectors to watch include humanoid robots, computing, and AI, benefiting from sustained industry enthusiasm and increased risk appetite among investors [2] Macro Overview - The upcoming National People's Congress will set the tone for the annual economy, with GDP growth targets expected to be set between 4.5% and 5% [8] - Fiscal policy is anticipated to include a deficit rate of 4.0% and new special bonds totaling 5 trillion yuan, indicating a significant increase in fiscal deficit compared to last year [8] Financial Engineering - The A-share market has seen a rise in industry crowding, particularly in media and resource sectors, with the media sector showing a crowding degree of 98.25% [12][14] - The resource sector continues to perform well, with price fluctuations leading to a decrease in crowding indicators, suggesting a potential for continued upward movement [13] Electronic Communication Industry - The upcoming GTC conference is expected to showcase new chip developments from NVIDIA, reinforcing AI as a core investment theme [24] - The demand for storage products is projected to rise significantly, driven by strong AI customer needs and price increases in the DRAM market [25] Computer Industry - The rapid iteration of domestic AI large models is expected to drive significant growth in computing power investments, with a focus on world model technology advancements [28] - The demand for AI-driven applications is anticipated to increase, leading to a surge in computing needs and infrastructure investments [29] New Energy Industry - Focus on hydrogen and ammonia projects, with government support for integrated energy bases expected to drive growth in this sector [32] - The electric power equipment sector is poised for growth due to ongoing global energy demands and potential easing of import restrictions in India [32] High-end Manufacturing Industry - The humanoid robot sector is entering a phase of mass production, with significant advancements showcased during the Spring Festival [35] - The North American AI supply chain remains robust, with ongoing demand for advanced equipment and materials expected to drive growth [36]

这种方法已在科大讯飞覆盖全国 32 个省级行政区、 5 万多所学校的智慧教育实践中得到验证：学 生低效学习下降 55% ，学习积极性提升 29% 。为了让这套在校内被验证有效的方法走进更多家 庭，科大讯飞 2018 年正式立项， 2019 年 首发 AI 学习机。从立项到今天，整整 90 个月——这 也是 T90 系列命名的由来： 90 个月来，一直坚持用 AI 解决个性化学习问题，而非单纯堆砌课程 和题目资源 。 新学期伊始，家长们又开始为孩子的学习忙碌起来。面对各式各样的辅导资源，看似在挑选 "学习 方案"，其实核心都在探寻同一个问题：究竟哪种方法才真正适配孩子当前的学习情况？ 2 月 28 日，带着对这一问题的深入思考，以" AI 新进化，个性化学习新高度"为主题的科大讯飞 2026 春季新品发布会如期举办，正式推出 科大讯飞 AI 学习机 T90 系列 ， 发布 T90 Pro 和 T90 Lite 两 种 型号。 依托 27 年 AI 核心技术积淀与 22 年教育一线深耕经验，科大讯飞始终致力于用 AI 解决学生个性 化学习难题；本次 T90 系列的发布，更是将这一使命推向了新的高度。 01 AI持 ...

近日，洛图科技发布了一则《中国学习平板零售市场月度追踪》报告。数据显示，2025年中国学习平板市场的全渠道销量为632.1万台，同比2024年增长 6.7%；销售额为199.1亿元，同比增长4.5%。 虽然相比2024年，市场依旧保持了正增长态势，但我们能观察到，2025年的增速明显下滑——增速远低于年中预期的14.6%，全年销量没有达到预测的 679万台。 学习平板无疑是当下最火热的电子教育赛道之一，作业帮、学而思、科大讯飞、猿力科技等"大厂"纷纷重注，将其视为重要的增长点。 如今增速大幅放缓，难道意味着学习平板的增长即将触及"天花板"，要卖不动了？ -01-火爆的"学习神器"，为什么跑不动了？ 2025年中国学习平板增速放缓，是政策、行业、产品等多维因素叠加的结果： 第一个原因，就是政策红利的"退坡"。 2024年下半年的"国补"刺激了消费，2025年初"国补"扩围，又将学习平板纳入补贴类目，提前释放了大量需求，造成高基数；但2025年下半年政策收紧 后，市场自然回落。 因此数据显示，2025年学习平板的销量"前高后低"：第一季度销量曾同比大涨近30%，结果到了第三、第四季度回落到只有3.5%、5.9%， ...

（来源：淘金ETF） 教育ETF 1. 金现代 300830 公司专注行业数字化与低代码开发，主营电力、化工等领域信息化解决方案，拥有垂直领域专用大模型 与AI智能取数、AI配料智能体等核心产品，深度服务央企与工业企业数智化转型。在AI应用全面爆发 背景下，公司依托低代码+AI开发优势，可快速对接阿里云、华为云开放工具与大模型能力，大幅缩短 项目交付周期、降低研发成本，AI赋能工业生产、设备管理、质量管控等场景落地加速，订单与交付 效率同步提升，充分受益于全行业AI应用普及与企业数字化需求扩张，成长空间持续打开。公司在电 力信息化领域具备深厚积累，AI技术与行业Know-How深度融合，可快速响应客户智能化升级需求，随 着AI开发成本下降与落地效率提升，其在能源、化工等行业的AI解决方案有望加速复制，进一步巩固 市场地位，打开业绩增长新空间。 2. 赛意信息 300687 公司是国内领先的企业数智化服务商，聚焦智能制造、工业软件与ERP实施，为电子、光伏等行业提供 MES与工业互联网解决方案，自研谷神工业大模型与PCB行业垂直模型，AI解决方案已实现规模化订单 落地。作为华为MetaERP核心合作伙伴，公司深 ...