本报讯(记者袁传玺)天眼查工商信息显示，近日，山东沂讯信息科技有限公司成立，注册资本5000万 元，经营范围包括人工智能公共服务平台技术咨询服务、集成电路设计、人工智能基础软件开发等。股 东信息显示，该公司由科大讯飞（002230）全资持股。 ...

Core Viewpoint - Recently, Keda Xunfei established a wholly-owned subsidiary named Shandong Yixun Information Technology Co., Ltd. with a registered capital of 50 million yuan [1] Group 1: Company Establishment - Shandong Yixun Information Technology Co., Ltd. was founded with a legal representative named Liu Shenghua [1] - The company is fully owned by Keda Xunfei [1] Group 2: Business Scope - The business scope includes services such as artificial intelligence public service platform technology consulting, integrated circuit design, and development of basic artificial intelligence software [1]

天眼查工商信息显示，近日，山东沂讯信息科技有限公司成立，法定代表人为柳升华，注册资本5000万 人民币，经营范围包括人工智能公共服务平台技术咨询服务、集成电路设计、人工智能基础软件开发 等。股东信息显示，该公司由科大讯飞（002230）全资持股。 ...

Core Insights - The concept of "reward economy" is gaining traction, defined as consumers purchasing non-essential goods or experience services to cope with work-life stress and fulfill psychological needs, leading to immediate gratification and self-affirmation [1] Group 1: Market Performance - As of December 23, 2025, the CSI Hong Kong-Shenzhen Online Consumption Theme Index (931481) shows mixed performance among its constituent stocks, with Perfect World (002624) leading at a 2.74% increase, followed by Kaiying Network (002517) at 1.79%, and Gome Retail (06808) at 1.69% [1] - The Online Consumption ETF (159793) is currently priced at 1.01 yuan [1] Group 2: Index Composition - The CSI Hong Kong-Shenzhen Online Consumption Theme Index comprises 50 listed companies involved in online shopping, digital entertainment, online education, and telemedicine, reflecting the overall performance of online consumption theme stocks in the mainland and Hong Kong markets [2] - The top ten weighted stocks in the index include Alibaba-W (09988), Tencent Holdings (00700), Meituan-W (03690), Kuaishou-W (01024), JD Health (06618), Giant Network (002558), Bilibili-W (09626), iFLYTEK (002230), Kunlun Wanwei (300418), and Kaiying Network (002517), collectively accounting for 55.21% of the index [2]

Investment Rating - The report maintains a "Recommended" investment rating for the computer industry [2][6]. Core Insights - The release of Doubao Model 1.8 and the Seedance 1.5 pro video generation model at the Force conference highlights significant advancements in AI capabilities, particularly in multi-modal agent scenarios [5]. - Doubao Model 1.8 achieved a score of 67.6 in the BrowseComp evaluation, surpassing leading models like GPT-5 High (54.9) and Gemini-3-pro (37.8), indicating its top-tier performance in complex task planning and execution [5]. - The upgraded Seedance 1.5 pro model features breakthroughs in audio-visual synchronization and multilingual dialogue alignment, enhancing its practical and commercial potential [5]. - The AI industry is transitioning from technical validation to large-scale implementation, with Doubao Model's daily token usage exceeding 50 trillion, ranking third globally [5]. - Future investment focus areas include general agent development platform vendors, vertical industry agent solution providers, and small to medium enterprises benefiting from cost-reduction policies [5]. Summary by Sections Recent Developments - The Force conference held on December 18-19, 2025, showcased the launch of Doubao Model 1.8 and the Seedance 1.5 pro model [3][5]. Market Trends - The AI ecosystem in China is led by major companies, with a focus on agents, multi-modal capabilities, and low-code solutions, which are expected to drive continued investment in computing infrastructure [6]. Investment Recommendations - Key companies to watch include: - AI Computing: Cambrian-U (688256.SH), Haiguang Information (688041.SH), Inspur Information (000977.SZ) - Agent Solutions: Kingsoft Office (688111.SH), Dingjie Zhizhi (300378.SZ), Saiyi Information (300687.SZ) - Multi-modal Solutions: Wanjing Technology (300624.SZ), iFlytek (002230.SZ), Tuolisi (300229.SZ) - AI Programming: Zhuoyi Information (688258.SH), Jinxiandai (300830.SZ) [6].

Group 1 - The family doctor concept sector declined by 0.66%, ranking among the top declines in concept sectors, with notable declines from companies such as Shuyupingmin, Meinian Health, and Haixia Innovation [1] - The top gainers in the family doctor concept sector included Zhujiang Co., He Ren Technology, and ST Yilianzhong, with increases of 7.86%, 2.97%, and 2.61% respectively [1] - The family doctor concept sector experienced a net outflow of 667 million yuan, with 19 stocks seeing net outflows, and 8 stocks exceeding 10 million yuan in net outflows, led by Haixia Innovation with a net outflow of 337 million yuan [1] Group 2 - The top stocks with net inflows included Zhujiang Co., China Ping An, and Huaping Co., with net inflows of 128 million yuan, 95.54 million yuan, and 5.69 million yuan respectively [2] - The family doctor concept sector's outflow leaderboard featured Haixia Innovation, Meinian Health, and Weining Health, with respective net outflows of 336.96 million yuan, 187.96 million yuan, and 168.62 million yuan [2] - The trading performance of various companies showed mixed results, with some companies like ST Yilianzhong and Huaping Co. showing positive performance despite the overall sector decline [2]

Group 1 - The market showed a significant recovery on December 22, with the Robotics Index ETF (560770) rising by 1.84%, and key component stocks such as Siasun Robot & Automation Co., Ltd. increasing by 10.35% [1] - The introduction of the Yushutech G1 humanoid robot at Wang Leehom's concert in Chengdu on December 18 marked the world's first concert featuring a robot on stage, performing "Firepower Fully Open" [1] - Tesla released an annual report video on December 19 showcasing rapid technological advancements of its humanoid robot, Optimus, from basic movements to complex interactions over the past year [1] Group 2 - CITIC Securities highlighted the ongoing overseas capacity planning in the robotics supply chain, suggesting a focus on high-quality segments as mass production approaches [1] - The Trump administration's emphasis on the development of the robotics sector is expected to elevate the strategic importance of the U.S. robotics industry, with potential positive implications for domestic policies [1] - The robotics sector is anticipated to experience a resurgence following previous corrections, with upcoming events such as Gen3 launches, new product releases, and Yushutech's IPO progress being key catalysts to watch [1] Group 3 - The Robotics Index ETF (560770) tracks the CSI Robotics Index, which includes top ten component stocks such as iFlytek, Huichuan Technology, Top Group, Dahua Technology, Roborock, Dazhong Laser, and others, covering various segments of the robotics industry [2]

Core Viewpoint - The article discusses the competition among AI large models in China, highlighting three different reports that claim different companies as the "first" in the industry based on varying criteria [2][30]. Group 1: Different "Firsts" Based on Metrics - The first report from Zhipu's prospectus claims that iFlytek is the first in terms of revenue, with over 500 million RMB projected for 2024 [6][8]. - The second report from IDC states that ByteDance's Doubao holds a 49.2% market share based on token usage, indicating it has the largest user base [10][12]. - The third report from A16Z and OpenRouter identifies DeepSeek as the global leader in open-source models, with 14.37 trillion tokens used, significantly higher than its competitors [15][18]. Group 2: Analysis of Business Strategies - iFlytek's ranking reflects its strong commercial capabilities and long-standing relationships in the government and enterprise sectors, focusing on B2B sales [19]. - ByteDance's Doubao leverages its massive user base from popular apps like Douyin and Toutiao, adopting a low-price strategy to capture market share [20]. - DeepSeek's appeal lies in its open-source nature and strong performance, particularly among global developers, although its monetization strategy is still under development [21]. Group 3: Implications for Job Seekers, Entrepreneurs, and Investors - For job seekers, the article emphasizes the importance of aligning personal skills with the respective business models of these companies [25]. - Entrepreneurs are advised to choose AI tools based on specific business needs rather than solely on market rankings [26]. - Investors should focus on the business models and monetization capabilities of these companies, as many are still struggling to achieve profitability despite high market shares [28]. Group 4: Future Directions in AI - The article suggests that the competition among these companies represents three distinct paths in the AI industry: the government-focused route (iFlytek), the user base-driven route (ByteDance), and the technology-driven route (DeepSeek) [27]. - It highlights the potential for multiple "firsts" to coexist in the market, similar to the current landscape of e-commerce in China [31]. - The article concludes that the ongoing competition signifies a significant shift in the global AI landscape, with Chinese companies gaining recognition and influence [33][34].

Group 1 - The core viewpoint of the news highlights the recent advancements in intelligent driving, particularly the introduction of L3 level conditional autonomous driving vehicles by Changan and BAIC, which are set to undergo trials in designated areas [1] - The approval of L3 level trials for companies like XPeng indicates a maturing landscape in technology, policy, and regulation, suggesting that intelligent driving is entering an accelerated development phase [1] - The potential for Robotaxi services is underscored by Elon Musk's announcement regarding the testing of driverless taxis without human safety operators, which could significantly advance the commercialization of fully autonomous driving [1] Group 2 - Changjiang Securities notes that the recent positive developments from L3 to Robotaxi, along with expectations for the continuation of vehicle trade-in policies next year, could lead to a recovery in Beta pressures, maintaining a positive outlook on the intelligent driving industry chain [1] - As of December 22, 2025, the CSI Internet of Vehicles Theme Index (930725) has seen a strong increase of 2.07%, with notable stock performances from Wanji Technology (300552) up 16.16%, Beidouxing (002151) up 9.99%, and Jingwei Hengrun (688326) up 9.49% [1] - The intelligent connected vehicle ETF (159872) has risen by 1.57%, with the latest price reported at 1.04 yuan [1] Group 3 - The intelligent connected vehicle ETF closely tracks the CSI Internet of Vehicles Theme Index, which includes companies related to content and service providers, software providers, hardware providers, and automotive manufacturers [2] - As of November 28, 2025, the top ten weighted stocks in the CSI Internet of Vehicles Theme Index include CATL (300750), Hongfa Technology (600885), Dahua Technology (002236), and others, collectively accounting for 51.03% of the index [2]

华为董事长之后，又一科技企业掌舵人获人民日报重磅专访，科大讯飞刘董事长的访谈文章《发展人工 智能，要有长期主义精神》登上客户端首页，引发行业深度思考。在AI技术加速迭代的今天，科大讯 飞的坚守与选择，为产业发展提供了宝贵范本。科大讯飞从智能语音识别起家，如今已成长为综合性 AI企业，但始终保持清醒认知："一家企业精力有限，什么都想干终将失败"。为此，科大讯飞精简产品 线，聚焦教育、医疗等熟悉领域，让技术真正贴合用户需求。讯飞星火大模型作为技术延续，并非凭空 出现，而是源于认知智能国家重点实验室的长期积累。科大讯飞对研发的执着令人动容，将20%销售收 入投入科研，这正是长期主义的生动体现。面对国产算力差距与技术封锁，科大讯飞不慌不忙，坚持自 主创新与产业链融合，用耐心和底气突破短板。科大讯飞拒绝"AI包装式溢价"，强调软硬协同、云端融 合，让产品体验实打实提升。作为有家国情怀的企业，科大讯飞让AI服务社会公益，助力特教事业、 帮扶听障群体。从"中文语音技术由中国人做到最好"的初心，到成为国家可借助的技术力量，科大讯飞 用行动证明，AI产业的长久发展，离不开责任与担当。 #大模型国家队##国家工程研究中心##国家 ...