AI行业点评：微信搜索接入DeepSeek，搜索流量增长可期

Investment Rating - The report maintains a "Positive" outlook for the media industry in China [4] Core Insights - The integration of DeepSeek into WeChat's search function is expected to significantly enhance user engagement and interaction within the WeChat ecosystem, benefiting Tencent Holdings (00700, Buy) [3] - The increase in search traffic within the WeChat ecosystem is anticipated to positively impact advertisers such as BlueFocus (300058, Not Rated), Tiandi Online (002995, Not Rated), Zhejiang Wenlian (600986, Not Rated), and Gravity Media (603598, Not Rated) [3] - The report highlights that the search traffic boost will also benefit e-commerce service providers like Weimob Group (02013, Not Rated) and Youzan (08083, Not Rated) [3] - The report suggests that mini-programs and content creators will gain from the increased search traffic, recommending attention to leading companies in mini-games and short dramas [3] Summary by Sections Industry Overview - The report discusses the recent launch of the "AI Search" feature in WeChat, powered by DeepSeek-R1, which integrates various Tencent ecosystem data sources to provide users with comprehensive and accurate answers [5] - The closed-loop design of the search function enhances efficiency and user stickiness by allowing users to ask questions and share answers without leaving WeChat [5] Investment Recommendations - The report recommends focusing on Tencent Holdings due to its strong position in the media industry and the expected benefits from the integration of DeepSeek [3] - Other companies mentioned for potential investment include ST Huatuo (002602, Not Rated), 37 Interactive Entertainment (002555, Increase), and several others in the mini-program and short drama sectors [3]