策略深度报告：再论DeepSeek投资路径-“国民应用”带动中国资产重估

Group 1: DeepSeek and AI Revolution - DeepSeek is driving a computing power equality revolution, potentially disrupting the US monopoly on AI large models[2] - The launch of DeepSeek has led to a significant increase in user engagement, with daily active users surpassing 20 million within 20 days, far exceeding ChatGPT's 1.46 million during the same period[18] - The rapid adoption of DeepSeek is expected to accelerate the commercialization of AI applications, providing China with an opportunity to "overtake" in the global AI industry revolution[2] Group 2: Market Sentiment and Foreign Investment - Foreign financial institutions have shown increased confidence in Chinese assets, with notable institutions like Goldman Sachs and Deutsche Bank expressing optimistic views on Chinese risk assets[3] - The Hang Seng Technology Index is trading at nearly a 50% discount compared to the Nasdaq, indicating significant room for valuation recovery[3] - Following the launch of DeepSeek and other favorable factors, market risk appetite has significantly increased, suggesting a revaluation of A-share technology assets is underway[4] Group 3: National Brand and Economic Transformation - National brands are rising strongly, reflecting a shift in consumer sentiment and national confidence, with domestic companies increasingly competing with international giants[5] - The DeepSeek model is expected to trigger a new round of total factor productivity growth, accelerating China's modernization process[6] - The transition from a traditional agricultural nation to a modern technological power is being facilitated by the AI wave represented by DeepSeek[40]