Core Insights - The A-share AI application sector experienced a collective surge, particularly in the GEO (Generative Engine Optimization) concept, with multiple stocks hitting the daily limit up, indicating strong market interest and investment potential [1][2] Industry Trends - The GEO concept represents a new marketing strategy tailored for generative AI, aiming to optimize content structure and multi-modal semantic adaptation, allowing brand information to be prioritized in AI-generated responses, thus shifting from traditional SEO to a model that achieves "zero-click exposure" [1] - The user base for generative AI is expanding, with over 30% of global information retrieval now conducted through generative AI, leading to a shift in advertiser demand from "ranking priority" to "answer priority," creating a rigid demand for GEO [1][2] Market Potential - The commercialization of the GEO sector is accelerating, with projections estimating the Chinese GEO market to reach 2.9 billion RMB by 2025 and 24 billion RMB by 2030, while the global market is expected to grow to 11.2 billion USD and over 100 billion USD respectively [2] - The recent announcement by Elon Musk to open-source the X platform's content recommendation algorithm is seen as a significant catalyst for the GEO sector, lowering industry entry barriers and enabling companies to adapt their optimization strategies more precisely [2] Investment Outlook - Multiple research institutions view the GEO sector as a core sub-line in AI applications, highlighting its dual attributes of clear short-term catalysts and high long-term growth certainty, making it a key investment focus [3] - Companies that are early adopters of GEO business and possess relevant technological capabilities, as well as authoritative content platforms with high AI relevance, are expected to benefit from this trend [3]

Core Viewpoint - AI chatbots and AI search overview products are forming new traffic entry points, with MAUs for ChatGPT, Gemini, Doubao, and DeepSeek at 88 million, 65 million, 16 million, and 13 million respectively, creating new information distribution channels, making AI platform traffic a crucial marketing area for advertisers, with GEO as one exploration method [1][2] Group 1: GEO Concept and Functionality - GEO essentially represents a new form of content marketing reshaped by AI, differing from traditional SEO aimed at improving link visibility on search pages; GEO focuses on enhancing the probability of relevant content being retrieved and appearing in AI responses, termed "AI visibility" [1][3] - Currently, GEO is more inclined towards brand building, with companies still in the methodological exploration phase; for instance, the overseas GEO startup Profound offers monitoring analysis and optimization intervention, helping brands quantify their visibility and citation in AI [3] Group 2: Domestic vs. Overseas Strategies - The differences in the corpus ecosystem between overseas and domestic markets lead to varied players and strategies in GEO; overseas strategies focus on creating high-quality website content and leveraging platforms like YouTube and Reddit, while domestic strategies involve extensive content matrix layouts around queries, utilizing self-media and third-party platforms [4] - Domestic large-scale operational platforms have advantages in GEO due to their accumulation of marketing material production, deployment, and transaction conversion data, which aids in understanding traditional business operations [4] Group 3: Investment Recommendations - Companies that are early adopters of GEO are likely to establish a technology-data validation loop, clarifying large model citation logic and accumulating data feedback; relevant stocks include BlueFocus (300058.SZ), Yidian Tianxia (301171.SZ), and InGravity Media (603598.SH) [5] - Large operational companies with extensive operational data and marketing content experience are also recommended; relevant stocks include Worth Buying (300785.SZ), Qiangmu Technology (301110.SZ), and BlueFocus (300058.SZ) [5]

Core Viewpoint - The AI application sector experienced a significant surge on January 12, with various AI-related stocks hitting their daily price limits, indicating strong market enthusiasm for AI technologies and applications [1][2]. Group 1: Stock Performance - Over 80 stocks, including Zhongcheng Technology, Xingtum Control, and Zhidema, reached their daily limit, showcasing a robust interest in AI-related investments [1]. - In the Hong Kong market, AI concept stocks also saw substantial gains, with Zhipu rising over 40% and MINIMAX-WP increasing by more than 29% [1]. Group 2: Policy and Industry Developments - The Ministry of Industry and Information Technology, along with seven other departments, issued the "Implementation Opinions on 'Artificial Intelligence + Manufacturing'," providing guidelines for the intelligent upgrade of industries such as chemicals [2][3]. - By 2027, China aims to achieve reliable supply of key AI technologies, with plans to apply 3 to 5 general large models in manufacturing and develop 1,000 high-level industrial intelligent agents [3][4]. Group 3: Market Trends and Future Outlook - The AI industry in China is showing strong competitive advantages, with breakthroughs in large model capabilities and a thriving open-source ecosystem [4]. - Investment logic in AI applications is shifting from hardware competition to focusing on commercial viability and localized breakthroughs, emphasizing the importance of application scenarios [5][6]. - The AI application sector is expected to evolve from being merely usable to highly effective by 2026, with diverse business models becoming mainstream [6].

Market Overview - The A-share market showed a strong upward trend, with the Shanghai Composite Index rising by 1.09%, the Shenzhen Component Index by 1.75%, the ChiNext Index by 1.82%, and the Sci-Tech Innovation Index by 2.88% [3][4]. Sector Performance - AI application stocks experienced a significant surge, with multiple stocks hitting the daily limit up, including BlueFocus Communication Group, Hand Information, Puyuan Information, and Keda Technology [5]. - The commercial aerospace sector continued its strong performance, with China Satellite and China Satcom both hitting the daily limit and reaching new highs [6]. Stock Highlights - Notable stocks with substantial gains included: - Zhongcheng Technology (+30.00% to 41.60) - Xingtai Measurement Control (+29.99% to 130.16) - Liujin Technology (+29.92% to 9.51) - Parallel Technology (+21.07% to 187.00) - Keda Technology (+20.01% to 48.52) [6][7]. Capital Flow - Main capital inflows were observed in sectors such as computer, media, gaming, and securities, while outflows were noted in non-ferrous metals, electronics, and real estate [9]. - Specific stocks with significant net inflows included Dongfang Wealth (16.55 billion), Lingyi Intelligent Manufacturing (16.42 billion), and China Satellite (14.35 billion) [9]. Institutional Insights - Citic Securities indicated that the cross-year market trend is likely to continue, although short-term technical correction risks are rising [11]. - Flash Gold Asset Management noted that while short-term fluctuations are increasing, the positive trend in technology remains unchanged [12].

Group 1 - The A-share market's AI application sector experienced a collective surge, with the AI application index rising nearly 8% on January 12, 2023, and several stocks, including BlueFocus, Topwise, Kunlun Wanwei, and Zhidema, hitting the daily limit [1] - Notable stocks such as Yidian Tianxia, Zhongwen Online, and Tianlong Group formed a new "Yizhongtian" combination, indicating a trend in the market [1] - Recent developments in the AI industry include significant financing rounds for overseas companies like xAI and Anthropic, as well as the introduction of domestic "Artificial Intelligence + Manufacturing" policies, which are expected to drive further growth in AI applications [1] Group 2 - Citic Securities highlighted that as model capabilities improve, particularly with significant reductions in inference and long-window costs, the commercialization of AI downstream application scenarios is accelerating [1] - Key areas of focus for commercialization include search & marketing, coding, multimodal applications, agents, and AI for science, suggesting that related companies are likely to see accelerated progress in their commercialization efforts [1] Group 3 - The AIGC concept stocks showed impressive performance, with BlueFocus and Topwise both increasing by 20.02%, and other stocks like Yidian Tianxia and Zhongwen Online also achieving a 20% rise [2] - The total market capitalization of BlueFocus reached 740 billion, while Topwise's market cap stood at 231 billion, indicating strong investor interest and confidence in these companies [2] - Year-to-date performance for these stocks has been notable, with BlueFocus up 78.99% and Topwise up 32.86%, reflecting a robust trend in the AI application sector [2]

证券研究报告 | 行业点评 | 传媒 传媒 报告日期：2026 年 01 月 12 日 AI 应用一马当先，重点关注 GEO 和漫剧 ——行业点评报告 投资要点 行业评级: 看好(维持) 分析师：冯翠婷 执业证书号：S1230525010001 fengcuiting@stocke.com.cn 相关报告 1 《25 年票房整体复苏，年底 弱档期表现超预期》 2026.01.05 2 《《疯狂动物城 2》票房有望 超预期，叠加春节档定档催化》 2025.12.01 行业点评 股票投资评级说明 3 《"云+AI"继续驱动北美云厂 资本开支高速增长》 2025.11.20 | 股票代码 | 股票简称 | 总市值（亿元） | 1220至今涨幅（%） | 上周涨幅（%） | 上周交易额（亿元） | 周交易额占市值比 | | --- | --- | --- | --- | --- | --- | --- | | 603598.SH | 引力传媒 | 69.90 | 55.74 | 52.62 | 48.75 | 69.75% | | 300058.SZ | 蓝色光标 | 616.80 | 101.17 | 49.13 ...

Core Viewpoint - The article highlights a significant shift in market dynamics, with AI application stocks experiencing a major surge while AI hardware stocks decline, indicating a potential turning point in investment focus towards AI applications [2][5][12]. AI Application Surge - AI application sectors, including Sora concept, AI+ marketing, and AI intelligent agents, saw substantial gains, with leading stocks like BlueFocus and Kunlun Wanwei hitting "20CM" limit up, and BlueFocus achieving a transaction volume of 193.2 billion yuan, the highest in A-shares [5][6]. - The market is establishing a dual mainline structure of "AI applications and commercial aerospace," with the Shanghai Composite Index rising by 0.75% and the Shenzhen Component Index by 1.31% [2][5]. Reasons for AI Application Growth - The recent strong performance of major model companies MiniMax and Zhipu, which have listed on the Hong Kong Stock Exchange, is seen as a key factor for the surge, providing a critical anchor for industry valuation and financing [7]. - Three new hotspots in the AI application field have emerged: 1. AI4S (AI for Science) with stocks like Zhizhi New Materials hitting "20CM" limit up and a year-to-date increase of over 198% [8]. 2. GEO (Generative Engine Optimization) focusing on optimizing content for AI search, marking a shift in user behavior towards direct answers from AI rather than traditional search engine results [8]. 3. AI+ healthcare, with OpenAI launching "ChatGPT Health" and significant user engagement reported by Ant Group's "Antifufu" [9]. Future Outlook for AI Applications - 2026 is anticipated to be a pivotal year for AI applications, with expectations of a "golden year" driven by technological maturity, supportive policies, and market demand [12]. - Key investment directions include: 1. Super entry points where large models become dominant traffic sources. 2. AI infrastructure focusing on software-defined computing. 3. High-growth areas in marketing and media leveraging AI capabilities. 4. High barriers in sectors like healthcare and manufacturing due to data and workflow integration [12].

Core Viewpoint - The AI application sector has experienced a significant surge, marking a shift in market dynamics, while AI hardware stocks have seen a decline, indicating a potential reallocation of investor interest towards AI applications [1][4][7]. Group 1: AI Application Performance - The AI application sector saw a major breakout, with key stocks like BlueFocus and Kunlun Wanwei hitting the "20CM" limit up, and BlueFocus achieving a transaction volume of 19.32 billion yuan, the highest in A-shares [1][4]. - New stocks in the AI application space, such as Yidian Tianxia, Vision China, and Tianlong Group, also reached their daily limit up, indicating strong market interest [1]. - The overall market established a dual focus on "AI applications and commercial aerospace," with the Shanghai Composite Index rising by 0.75% and the Shenzhen Component Index by 1.31% [1]. Group 2: Reasons for AI Application Surge - The recent strong performance of major model companies MiniMax and Zhipu, which have listed on the Hong Kong Stock Exchange, has provided a critical anchor for industry valuation and financing, signaling the start of "commercial value realization" in AI applications [7]. - Three new hotspots in the AI application field have emerged: AI for Science (AI4S), Generative Engine Optimization (GEO), and AI in healthcare, with significant stock performances in these areas [8][9]. - The AI application sector is expected to enter a "golden year" in 2026, driven by technological maturity, supportive policies, and increasing market demand [10][11]. Group 3: Future Outlook - Analysts predict that 2026 will be a pivotal year for AI applications, transitioning from "technical validation" to "commercial promotion," with a focus on four key areas: super entry points, AI infrastructure, high growth sectors, and high barriers in data and workflow [11].

基金经理们像一夜之间集体转了风向，开始扎堆AI应用赛道。 这波操作反常得很，要知道，过去一整 年，大家嘴上喊AI，手却很诚实，满仓英伟达、中际旭创。 说白了，都在给「卖铲子」的送钱。可上周不一样，资金突然扎堆扫货软件、内容、SaaS。这信号太明 确了：数钢镚时代，正式开启。 1 AI应用市场，简直疯了。 基民们打开账户，眼睛都亮了，华宝大数据 ETF、易方达人工智能主题 ETF 这些标的，集体狂飙，单 日涨幅3%、4%，甚至直接冲 5%。 为啥会这样呢？因为过去两年，二级市场的逻辑很直接：谁有显卡，就买谁。 那时，大家都在追「看星星」的活儿，谁聊AI应用就会被贴上「没格局」的标签。大家觉得应用是后 话，先把「数字基建」搞定再说。 但到了 2026 年，这套老逻辑早已行不通；难道还能靠算力继续赚快钱吗？显然不能。 上周 AI ETF 的周线七连阳，是基金经理用脚投票的结果；他们心里都在琢磨一个现实甚至冷酷的问 题：铲子都卖得够多了，挖出来的矿又在哪儿呢？ 关键变量就一个：算力，已经进入公用事业化阶段了。 这和当年电力、宽带发展一样。早期大家疯炒电线杆、光纤，图基建红利；可当电价、带宽成本降到合 理区间，谁还会天 ...

Core Viewpoint - The A-share market has seen significant upward movement, with the Shanghai Composite Index reaching a ten-year high, indicating strong investor sentiment and market performance [1][3]. Group 1: TMT Sector Performance - The TMT (Technology, Media, and Telecommunications) sector has experienced a surge, with the Wind TMT Index showing an intraday increase of over 3% [4]. - The media sub-sector within TMT has seen remarkable gains, with stocks like BlueFocus Media hitting the daily limit up of 20%, and its trading volume exceeding 19 billion yuan, marking a historical high for the stock [4]. - Other media stocks such as Chuanwang Media, Tianlong Group, and Zhidemai also reached the daily limit up, contributing to a broader trend of significant price increases across the sector [4]. Group 2: Computer Sector Performance - The computer sector has also witnessed a strong performance, with over 40 stocks hitting the daily limit up or increasing by more than 10% [6]. - Notable stocks in this sector include Topwise, Hande Information, and Puyuan Information, all achieving a daily limit up of 20% [6]. Group 3: Other Sector Performances - Defense, social services, comprehensive, and communication sectors have shown strong upward trends, contributing to the overall market rally [8]. - Conversely, sectors such as oil and petrochemicals, coal, and agriculture have lagged behind in performance during the same period [9]. Group 4: Hong Kong Market Performance - The Hong Kong market has also shown strength, with the Hang Seng Index gaining momentum, particularly after 11 AM [10][11]. - Leading stocks in the Hang Seng Index include Kuaishou-W, Meituan-W, and Alibaba-W, while stocks like Shenzhou International and Hansoh Pharmaceutical have faced declines [12]. - Notably, Baiaosaitou-B has surged over 15% following a licensing agreement aimed at accelerating the development of bispecific antibody drug conjugates [12][13].