CS&S(SH:600536) Mei Ri Jing Ji Xin Wen·2025-03-31 13:50Core Insights - The core viewpoint is that all AI applications are essentially shell applications, and the focus should be on establishing long-term barriers through deep integration of workflows, proprietary hardware/IP, and data delivery capabilities [1][2]. Group 1: AI Applications and Market Trends - AI applications lack real barriers, and any claims of barriers are misleading; the emphasis should be on building barriers in non-AI capabilities [2][4]. - Concepts like the metaverse and SaaS have quickly lost traction, but the emergence of DeepSeek has led to explosive revenue growth for software companies, indicating a potential resurgence for Chinese software firms [2][4]. - Some SaaS companies have reported revenue growth exceeding 300% year-on-year, particularly those embracing AI and DeepSeek, suggesting a promising future for disciplined software companies [4]. Group 2: Perspectives on Emerging Technologies - The current trend is towards embodied intelligence, but the commercial pathways remain unclear, especially concerning humanoid robots [5][8]. - There is a public disagreement regarding the viability of humanoid robots, with some industry leaders asserting that this sector will eventually yield significant companies despite current skepticism [8][10].