大模型技术持续降价，AI应用或迎爆发期，“AI应用ETF”——线上消费ETF基金（159793）冲击4连涨

Group 1 - The core viewpoint is that the cost of AI large models is significantly decreasing due to technological advancements, economies of scale, and market competition, which is expected to positively impact industry development and lead to an explosion in AI applications [1] - In China, the AI industry is thriving, with a notable number of generative AI patents; 27,000 out of 45,000 newly published generative AI patents in 2024 originated from China, accounting for 61.5% of the total [1] - The online consumption ETF fund is positioned as an AI application ETF, closely tracking the CSI Hong Kong-Shenzhen Online Consumption Theme Index, and is expected to benefit from the anticipated explosion in AI applications [1] Group 2 - The CSI Hong Kong-Shenzhen Online Consumption Theme Index selects 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] - As of July 31, 2025, the top ten weighted stocks in the CSI Hong Kong-Shenzhen Online Consumption Theme Index include Tencent Holdings, Alibaba-W, Meituan-W, Kuaishou-W, JD Health, iFLYTEK, Bilibili-W, Tsinghua Tongfang, Giant Network, and Kunlun Wanwei, with these ten stocks accounting for 53.33% of the total weight [2]