智谱发布AutoGLM沉思，集深度研究和操作能力于一体

Investment Rating - The industry investment rating is maintained at "Overweight" [5] Core Insights - The report highlights the rapid development of AI applications in the media industry, indicating significant investment opportunities [6][9] - The launch of the AutoGLM model by Zhiyuan represents a major advancement in AI technology, combining deep research capabilities with practical operational abilities [6][8] Summary by Sections Industry Performance - Over the past 12 months, the industry has shown a relative return of -1.87% compared to the CSI 300 index, with an absolute return of 8.02% [2] Key Developments - The AutoGLM model, released on March 31, 2025, is the first of its kind to integrate deep research and operational capabilities, marking a significant step forward in AI agent technology [6][8] - The model's development is based on a comprehensive stack of large model technologies, enhancing its performance in various tasks [8] Investment Recommendations - The report suggests focusing on companies such as Saiyi Information, Dingjie Smart, Hand Information, Focus Technology, and Huace Film & TV for potential investment opportunities in the AI application sector [9]