Investment Rating - The report rates the industry as "Buy" [1] Core Insights - DeepSeek V3.1 significantly enhances agent support and is designed for next-generation domestic AI chips, indicating a positive outlook for the computer sector [8][9] - The report suggests key investment targets including Hygon Information Technology, Cambricon Technologies, Kingdee International, Kingsoft Office, Sie Consulting, Hand Enterprise, Dingtalk Intelligence, and Runa Smart Equipment, with related targets being Wuxi Unicomp Technology and Dawning Information Industry [8][9] Summary by Sections - DeepSeek V3.1 Upgrades: - Introduces a hybrid inference architecture that supports both thinking and non-thinking modes, allowing users to switch modes easily [9] - Improves thinking efficiency, providing faster answers compared to the previous model DeepSeek-R1-0528 [9] - Enhances agent capabilities through post-training optimization, significantly improving tool use and agent tasks [9][10] - Tool Invocation and Agent Support: - Programming agent shows significant improvement in code repair evaluations and complex tasks [10] - Search agent achieves substantial improvements in multiple search evaluation metrics, outperforming previous models in complex search tests [10] - Thinking efficiency is improved, with the new model maintaining performance while reducing output tokens by 20%-50% [10] - API and Model Open-Sourcing: - The base model has been retrained with 840 billion tokens and is open-sourced on platforms like Hugging Face [11] - Utilizes UE8M0 FP8 Scale precision, designed for upcoming domestic chips, with significant adjustments made to the tokenizer and chat template [11]
DeepSeek-V3.1加强智能体支持，与国产AI芯片协同创新
Haitong Securities International·2025-09-09 11:38