字节豆包事件点评：豆包产品快速迭代，有望推动推理算力需求持续提升

Investment Rating - The report maintains an "Accumulate" rating for the industry [3] Core Insights - The launch of the ByteDance Doubao real-time voice model is expected to enhance user experience and drive user growth, accelerating the penetration of related application scenarios [1][3] - The Doubao model utilizes a unified modeling framework for voice generation and understanding, achieving a high satisfaction score of 4.36 compared to GPT-4o's score of 3.18, indicating superior emotional understanding and expression capabilities [2][3] Summary by Sections Industry Overview - The Doubao product's rapid iteration is anticipated to boost the demand for inference computing power, benefiting both B-end and C-end applications [3] Investment Recommendations - The report suggests focusing on various sectors that may benefit from the growth in AI and computing power, including: - AI Chips: Companies like Haiguang Information, Cambrian, Jingjia Micro, and Anbotong [3] - Servers: Companies such as Inspur Information, Zhongke Shuguang, and Digital China [3] - Switches: Companies like Ruijie Networks and Unisplendour [3] - Optical Modules: Companies including Guangxun Technology and Huagong Technology [3] - IDC: Companies such as Runze Technology, Huahuan New Network, and Century Interconnect [3] - Liquid Cooling: Companies like Invec and Shenling Environment [3] - Power Supply: Companies such as Oulutong and Taijia [3]