豆包验证国内AI需求，25年或成C端应用落地元年

Investment Rating - The investment rating for the social services industry is "Overweight" [21]. Core Viewpoints - The report highlights that the domestic AI application potential in the C-end market has been validated, with a trillion-dollar market scale expected [68]. - The "Doubao" app, developed by ByteDance, has seen its monthly active users approach 60 million, ranking second globally after OpenAI's ChatGPT, with a growth rate of 16.92% [68]. - The report anticipates that 2025 may become the year of C-end AI application landing, supported by technological advancements, cost reductions, and user growth [68]. Summary by Sections Market Overview - The social services sector's index experienced a weekly decline of 5.43%, ranking 30th out of 31 in the Shenwan first-level industry performance [59][39]. - The weekly performance of various sub-industries includes: Professional Services (-4.09%), Tourism and Scenic Areas (-4.92%), Hotel and Catering (-5.96%), Sports II (-6.60%), and Education (-9.33%) [39][64]. Individual Stock Performance - Top five gainers in the social services sector include: ST Dongshi (5.73%), Guolan Testing (4.30%), Emei Mountain A (2.06%), Jiuhua Tourism (1.82%), and Jinjiang Hotel (1.80%) [4]. - The bottom five performers are: Dou Shen Education (-26.33%), Zhongke Yunwang (-19.17%), Chuangye Heima (-15.57%), Shibu Testing (-14.88%), and Borui Communication (-14.36%) [4]. Investment Themes - Investment theme one focuses on the potential of domestic AI application scenarios, with expectations for significant growth in the C-end market by 2025 [68]. - Investment theme two emphasizes the upcoming 2025 Spring Festival film market, which is expected to improve due to an increase in quality film supply and supportive national policies [50].