Huaxin Securities·2025-12-31 13:00Investment Rating - The report maintains a "Buy" rating for the companies mentioned, including Weike Technology (301196.SZ), Nengke Technology (603859.SH), and Hehe Information (688615.SH) [9][58]. Core Insights - The AI industry is experiencing significant advancements, particularly with the release of MiniMax M2.1, which has achieved state-of-the-art performance in multilingual code evaluation and enhanced problem-solving capabilities [2][6][30]. - The introduction of TurboDiffusion by Tsinghua University marks a breakthrough in AI video generation, reducing generation time from minutes to seconds while maintaining video quality [3][32][39]. - The financing landscape for AI startups is robust, exemplified by LemonSlice's $10.5 million seed round aimed at developing interactive video avatars, indicating a shift towards multimodal AI interactions [4][44][48]. Summary by Sections 1. Computing Power Dynamics - MiniMax released the M2.1 model, achieving 72.5% in the SWE-bench Multilingual evaluation, surpassing competitors like Gemini 3 Pro and Claude Sonnet 4.5 [23][24]. - The rental prices for computing power remain stable, with specific configurations priced at approximately 28.64 CNY/hour for Tencent Cloud and 31.58 CNY/hour for Alibaba Cloud [22][23]. 2. AI Application Dynamics - Discord's weekly traffic increased by 9.44%, indicating growing engagement in AI applications [31]. - TurboDiffusion has accelerated AI video generation significantly, achieving up to 200 times faster processing without compromising quality [32][36]. 3. Financing Trends - LemonSlice secured $10.5 million in seed funding to enhance its real-time interactive avatar technology, showcasing the potential for AI to evolve from text-based to multimodal interactions [44][46]. 4. Market Review - The AI application index and AI computing power index showed positive performance, with notable gains in specific companies like Yingwei Technology and Shengyi Technology [50][56]. 5. Investment Recommendations - The report highlights the strategic acquisition of Groq by NVIDIA for approximately $20 billion, reinforcing NVIDIA's leadership in the AI chip sector and emphasizing the high demand for efficient computing solutions [6][56].