Group 1 - Kunlun Wanwei officially launched the Skywork Super Agents web version on May 22, with the app going live in China on May 26, marking a significant shift towards the "AI Office Intelligent Agent" era [1] - The Skywork Super Agents utilizes AI agent architecture and deep research technology to generate documents, PPTs, spreadsheets, web pages, podcasts, and multimedia content, achieving over 350 million views on Weibo and more than 20 million views across platforms like X, Google, LinkedIn, and YouTube within two days of its release [1] - User feedback has exceeded expectations, with numerous positive reviews and comments from both domestic and international users praising the functionality of the Skywork Super Agents [1] Group 2 - Research institutions are optimistic about Skywork Super Agents, highlighting its precise positioning in the document, PPT, and spreadsheet sectors, which differentiates it from general agents and establishes a professional product label [2] - The agent's ability to generate high-quality content with minimal prompts and maintain a unified PPT style enhances project initiation and delivery efficiency, showcasing its meticulous design in the intelligent creation field [2] - Analysts noted that the efficiency of the Skywork Super Agents surpasses that of traditional AI chatbots, particularly in handling complex tasks, significantly simplifying workflows in business scenarios [2]

Group 1 - Kunlun Wanwei (300418) experienced a decline of 6.28% [1] - Huatai-PB Game ETF (516770) holds 9.91% of Kunlun Wanwei's stock, currently down by 0.87% [1] - The trading volume for Kunlun Wanwei reached 4.3826 million yuan, with a decrease of 9 million units in the last month [1] Group 2 - The market is undergoing adjustments, suggesting that broad-based indices may be a better option for bottom-fishing [1]

Investment Rating - The report maintains a "Buy" rating for several companies in the AI and computing sector, including Yidao Information, iFlytek, Weike Technology, and others, indicating a positive outlook for their stock performance [13][48]. Core Insights - The AI sector is experiencing significant advancements, particularly with the launch of Claude 4 models, which enhance coding and reasoning capabilities, marking a new era in AI applications [3][20]. - The introduction of the Skywork Super Agents by Kunlun Wanwei signifies a breakthrough in AI office applications, showcasing unique features that differentiate it from competitors [5][27]. Summary by Sections 1. Computing Power Dynamics - The rental prices for computing power remain stable, with specific rates for various configurations such as A100-40G and A100-80G [19][21]. - The Claude 4 model was launched on May 23, featuring two variants: Claude Opus 4 and Claude Sonnet 4, both of which demonstrate significant improvements in performance and accuracy [20][22]. 2. AI Application Dynamics - Gemini's average access volume increased by 4.51% week-on-week, indicating growing user engagement in AI applications [26]. - The Skywork Super Agents were released, offering comprehensive capabilities for content creation and task management, thus enhancing productivity in AI office environments [27][30]. 3. AI Financing Trends - Airwallex secured $300 million in Series F funding, raising its valuation to $6.2 billion, reflecting strong market confidence in its global expansion strategy [35][36]. - The funding round included participation from notable investors, indicating a robust interest in the company's growth potential [35][37]. 4. Market Review - The AI computing index and application index showed fluctuations, with notable gains in specific companies like Kunlun Wanwei, highlighting the dynamic nature of the AI market [40][41]. 5. Investment Recommendations - The report suggests focusing on companies with successful AI product implementations, such as Jiahe Meikang and iFlytek, as well as those with promising technological advancements like Cambrian [11][47].

Group 1 - Meituan plans to launch multiple AI application assistants within the year, expanding the application scenarios of AI in the life services sector and providing users with a more convenient and intelligent experience [1] - Meituan's Q1 2025 financial report shows R&D investment of 5.8 billion yuan, a year-on-year increase of 15% [1] Group 2 - Yushu Technology participated in the first humanoid robot combat competition, showcasing AI-driven techniques for robots to learn fighting moves such as jabs and hooks [2] - The emergence of humanoid robot combat events reflects the integration of technological advancement with human needs, offering new ideas and directions for future technological applications and industry development [2] Group 3 - Kunlun Wanwei officially launched the Skywork Super Agents App, the world's first AI Agent-based Office intelligent mobile app, marking a shift from desktop to mobile in the "AI Office intelligent agent" era [3] - The launch of the Skywork Super Agents App injects new vitality into the mobile office sector, with expectations for continued product optimization and innovation in AI office technology [3]

Core Viewpoint - The emergence of Kunlun Wanwei as a leading player in the AIGC era demonstrates the potential for AI commercialization and the company's successful strategies in overseas markets [1][5][15]. Group 1: Company Overview - Kunlun Wanwei is a responsive player in the large model wave, strategically focused on AIGC [2]. - The company has a comprehensive business landscape with successful product cases, showcasing the impact of AI on various scenarios [3]. Group 2: Financial Performance - In Q1 2025, Kunlun Wanwei achieved revenue of 1.76 billion yuan, a year-on-year increase of 46%, with AI business driving growth [10]. - The company's overseas revenue reached 1.67 billion yuan, accounting for 94.9% of total revenue, marking a 6.5 percentage point increase from the previous year [11]. Group 3: Product Development - The launch of the Skywork Super Agents on May 22 attracted significant market attention, leading to a stock price surge and a trading volume of 5.381 billion yuan [4]. - The AI music platform Mureka saw a global visit count of 3.33 million in March, a month-on-month increase of 86.5%, becoming the fastest-growing product in the AI music category [12]. Group 4: R&D Investment - Kunlun Wanwei's R&D expenses surged to 1.54 billion yuan in 2024, a year-on-year increase of 59.5%, representing over 27% of total revenue [18]. - The R&D team expanded to 1,554 members, making up 73.41% of the total workforce, positioning the company among the top non-traditional AI enterprises in China [21]. Group 5: Market Strategy - The company has adopted a strategy of "vertical scenarios + overseas expansion," allowing it to avoid direct competition with giants while quickly validating product value [59]. - Kunlun Wanwei's approach emphasizes long-term commitment and leveraging existing advantages to build competitive AI products [60]. Group 6: Future Outlook - The company is positioned to capitalize on the upcoming AI commercialization wave, with expectations of continued growth in overseas markets and AI applications [15][48]. - The strategic shift from "tool-based products" to "intelligent service platforms" reflects the evolving landscape of AI services [35].

Core Insights - Domestic AI product web traffic data shows significant variations in user engagement, with Kimi leading at 6.5867 million visits, while Xunfei Xinghuo experienced a notable decline of 30.30% [1] - Internationally, ChatGPT remains dominant with 12,652.431 million visits, reflecting a 2.21% increase, while LLaMA saw a substantial rise of 58.99% [1] - Major AI events include Google's I/O 2025 conference, where new AI products were launched, and various companies introduced innovative applications enhancing user interaction and content generation [2] Domestic AI Product Data - Kimi: 6.5867 million visits, up 1.62% - Wenxin Yiyan: 2.0604 million visits, up 7.79% - Tongyi Qianwen: 196,200 visits, down 5.48% - Doubao: 13.8957 million visits, up 14.79% - Zhipu Qingyan: 452,600 visits, up 10.82% - Xunfei Xinghuo: 146,100 visits, down 30.30% - DeepSeek: 96,380 visits, up 1.49% - Tencent Yuanbao: 577,600 visits, up 6.46% - Tiangong AI: 143,100 visits, down 7.91% [1] International AI Product Data - ChatGPT: 12,652.431 million visits, up 2.21% - Claude: 2,165.07 million visits, up 0.63% - Gemini: 1.0206 million visits, up 22.37% - LLaMA: 73,000 visits, up 58.99% [1] AI Events and Innovations - Google I/O 2025 introduced several AI product iterations, including the impressive Veo 3 video model [2] - Kunlun Wanwei launched "AI Office Intelligent Body" Skywork Super Agents for multi-modal content generation [2] - Doubao App added video call functionality for enhanced user interaction [2] - Tencent released AI browser QBot, offering personalized services based on user behavior [2] - OpenAI expanded its Responses API to support advanced features for developers [2] Investment Recommendations - AI Marketing: Focus on Yidian Tianxia, BlueFocus, and others - AI Toys: Attention to Shanghai Film, Talking Tom, and others - AI Emotional Companionship: Recommendations for Kaiying Network and others - AI Film: Recommendations for Huace Film and others - AI IP: Focus on Zhongwen Online and others - AI Games: Recommendations for Kaiying Network and others [3]

Core Insights - The article discusses the development and support of the multimodal large model industry in China, highlighting various policies and initiatives at both national and local levels aimed at enhancing AI capabilities and applications [1][4][11]. Policy Development Timeline - In 2023, local policies began to emerge, focusing on computational power to encourage the development of large model technology and innovative application scenarios, starting with Guangdong, Beijing, and Shanghai. By 2024, more regions are expected to introduce relevant policies aimed at improving administrative efficiency [1]. - By 2025, government work reports will emphasize the ongoing promotion of the "Artificial Intelligence +" initiative, with a focus on supporting the widespread application of large models [1]. National Policy Summary - The Chinese government has implemented several measures to support the AI industry, particularly multimodal large models, which are seen as crucial products within the AI sector. The State Council has identified embodied intelligence as a future industry, promoting the integration of digital technology with manufacturing and market advantages [4][5]. - Key national policies include the "Guidelines for the Development of Artificial Intelligence Industry" and the "Three-Year Action Plan for Data Elements," which aim to enhance data utilization and promote high-quality economic development through data-driven initiatives [11][13]. Local Policy Highlights - Various provinces have introduced specific policies to support the development of AI large models. For instance, Guangdong aims to develop a comprehensive technology system for large models with trillion-parameter capabilities, while Beijing targets the creation of 3-5 advanced, controllable foundational model products by the end of 2025 [13][15]. - Local initiatives also include the establishment of intelligent computing centers and the promotion of AI applications in various sectors, such as manufacturing, healthcare, and urban governance [13][14]. Key Development Directions - The article outlines that provinces like Guangdong, Beijing, and Shanghai have set ambitious goals for the development of large models, focusing on creating a robust ecosystem for AI innovation and application [15]. - The emphasis is on fostering collaboration between government, industry, and academia to drive advancements in AI technologies and their practical applications across different sectors [15].

Group 1 - The Media ETF (159805.SZ) increased by 1.81%, with the associated index, the CSI Media Index (399971.SZ), rising by 1.88% [1] - Key component stocks such as Kunlun Wanwei rose by 6.51%, Youzu Interactive by 9.97%, Giant Network by 4.56%, and Kying Network by 2.35% [1] - The IP economy concept stocks strengthened again, with Youzu Interactive hitting the daily limit, and Ice Glacier Network rising over 10% [1] Group 2 - Huajin Securities noted that the issuance of game licenses in May reached a record high, suggesting investment opportunities from quality content [1] - The report highlighted that Giant Network is expanding its reach through quality IP and AI matrix to create new gaming formats, while Kying Network is expected to drive performance growth with its premium game reserves and AI+IP matrix [1] - According to招商证券, 130 domestic game licenses and 14 import licenses were issued in May, indicating a positive impact from policy support on the gaming sector [1]

Group 1 - The A-share market shows a diverse range of hotspots, with sectors such as media, environmental protection, computer technology, and national defense leading the market [1] - The low-fee创业板人工智能ETF华夏 (159381) has seen a strong rise, increasing by 1.18% as of 10:12, with holdings like 昆仑万维 rising over 7% [1] - The 2025 Global AI Terminal Exhibition held in Shenzhen showcased major companies like Huawei, Honor, and ZTE, highlighting the future of AI applications across various devices [1] Group 2 - The demand for AI terminal hardware and computing infrastructure is significant, with the low-fee创业板人工智能ETF华夏 (159381) aiding in capturing the recovery trend in the AI technology sector [2] - This ETF tracks the创业板人工智能指数, selecting AI-focused companies listed on the创业板, covering hardware, software, and application leaders in the AI industry [2] - The top ten component stocks include leaders in optical modules, optical chips, and IT services, with a management fee rate of 0.15% and a custody fee rate of 0.05%, making it one of the lowest in comparable funds [2]

A股游戏板块走强，昆仑万维涨超4%，游族网络涨近3%，电魂网络、星辉娱乐等跟涨。 ...