行业周报：持续看好稳定币和AI应用投资机会-20250622

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the continuous optimism towards investment opportunities in stablecoins and AI applications, driven by recent regulatory advancements and significant growth in the AI sector [5][6][12][14] Summary by Sections Market Review - During the week of June 16-20, 2025, the CSI 300 index decreased by 0.45%, while the computer index fell by 1.83% [4][12] Stablecoin Developments - The U.S. Senate passed the Stablecoin Innovation Act, marking a significant step in regulatory legislation for stablecoins. This is complemented by the EU's Crypto Asset Market Regulation and Hong Kong's Stablecoin Ordinance, which is set to take effect on August 1, 2025. These developments are expected to foster a compliant and robust growth environment for the stablecoin industry [5][13] AI Application Growth - OpenAI reported an ARR of $10 billion in June 2025, nearly doubling year-over-year. Other AI tools like Cursor and Kuaishou also reported significant revenue growth, indicating a strong commercial momentum in AI applications across the U.S. and China [6][14] Investment Recommendations - For stablecoins and RWA, recommended companies include Longxin Group and Zhuoyi Information, with beneficiaries such as Sifang Jingchuang and Jinqiao Information. In AI applications, recommended companies include Kingsoft Office and iFlytek, with beneficiaries like Meitu and Hanbang High-Tech. In the computing power sector, recommended companies include Zhongke Shuguang and Chunzhi Technology [7][15]