计算机周观点第16期：DeepSeekV3.1发布，“制程突围”转向“生态协同”-20250909

Investment Rating - The report rates the computer industry as "Outperform" [1] Core Insights - DeepSeek launched the V3.1 model aimed at next-generation domestic chip design, indicating a shift from "process breakthrough" to "ecological collaboration" [4][10] - The Hong Kong Stock Exchange (HKEX) is cautiously exploring a 24-hour trading mechanism and T+1 settlement, which is expected to benefit financial IT [4][12] - Three centralized database products have passed security evaluations, suggesting a positive outlook for the acceleration of AI application deployment [4][12] Summary by Sections - DeepSeek V3.1 Model Launch: The V3.1 model features a hybrid inference architecture, improved thinking efficiency, and enhanced Agent capabilities. It utilizes the innovative "UE8M0" design optimized for AI core operations on domestic chips, which is crucial for establishing an autonomous AI ecosystem [4][11] - HKEX Trading Mechanism: HKEX is actively discussing the reduction of the settlement cycle to T+1 and extending trading hours to align with global trends. This initiative aims to enhance market efficiency and attract more participants [4][12] - Database Security Evaluation: The China Information Security Evaluation Center announced that three centralized databases successfully passed security evaluations, indicating higher entry barriers and a trend towards market consolidation among leading vendors [4][12] - Investment Recommendations: The report suggests focusing on companies such as Kingdee International, Kingsoft Office, Hand Enterprise, and others, highlighting their potential in the computer sector [4][10]