电子行业：DeepSeek持续火爆，开源降低推理模型部署门槛

Investment Rating - The industry investment rating is maintained at "Overweight" [1] Core Insights - The electronic industry has shown strong performance over the past twelve months, with a relative return of 42.9% and an absolute return of 62.25% [2] - The release of multiple PC-level chips is expected to drive demand for PC upgrades [3] - The annual shipment of VRMR devices has increased, with several manufacturers beginning to develop ARAI glasses [3] - The launch of the DeepSeek-R1 model by DeepSeek, a subsidiary of Huansheng Quantitative, has garnered significant attention, demonstrating performance comparable to OpenAI's models [5][6] Summary by Sections Industry Performance - The electronic industry has achieved a relative return of 6.6% over the past month, 6.87% over the past three months, and 42.9% over the past twelve months compared to the CSI 300 index [2] Investment Recommendations - The report suggests focusing on companies within the AI chip supply chain, such as Haiguang Information and Cambrian, due to the anticipated high growth in AI chip demand driven by the popularity of DeepSeek [6] - It also recommends monitoring companies in the PC industry chain, including Lenovo Group and Xiaomi, as well as AI wearable device companies [6] Technological Developments - DeepSeek has released several models, including DeepSeek-R1 and its distilled versions, which are designed for efficient local deployment on various AI edge devices [6] - The models utilize a customized PTX instruction set to enhance GPU resource efficiency, leading to improved overall computational performance [6]