Shenwan Hongyuan Securities·2025-06-28 13:28Investment Rating - The report rates the industry as "Overweight" indicating that it is expected to outperform the overall market [40]. Core Insights - Ant Group launched the AI health application AQ, which aims to accelerate the implementation of AI in healthcare by providing over 100 AI services, connecting more than a thousand hospitals and nearly a million doctors [6][8]. - Chinese securities firms are expanding into virtual assets, with business innovations expected to benefit securities IT providers [6][19]. Summary by Sections Ant Group's AI Health Application - On June 26, 2025, Ant Group released the AQ health application, an independent AI health management app that offers health education, report interpretation, consultation, and health record management [8]. - The application addresses two major pain points in C-end AI healthcare: trust issues and lack of ecosystem connectivity [9][13]. - The AQ application enhances user trust through deep questioning and multi-turn dialogue, providing comprehensive diagnostic suggestions [12]. - It connects users to a wide network of hospitals and doctors, facilitating direct remote consultations and appointment scheduling [13][16]. - The integration with Alipay's medical insurance code allows for seamless payment processes, enhancing user experience [16][18]. Virtual Asset Expansion by Chinese Securities Firms - On June 24, 2025, Guotai Junan International received approval from the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to include virtual asset trading services [19][24]. - This move positions Guotai Junan International as the first Chinese securities firm in Hong Kong to offer comprehensive virtual asset trading services [19]. - The innovation in brokerage services is expected to lead to upgrades in business systems, benefiting IT vendors in the securities sector [28]. Recommended Stocks - The report highlights several stocks as potential investment opportunities, including: - AIGC: Kingsoft Office, Wanjia Technology, Daotong Technology, Hongruan Technology, and others [6]. - Digital Economy Leaders: Hikvision, Kingsoft Office, and others [6]. - Trust & Data: Haiguang Information, Softcom Power, and others [6]. - AIGC Computing Power: Inspur Information, Haiguang Information, and others [6].