BABA(US:BABA) GUOTAI HAITONG SECURITIES·2026-01-17 09:07Investment Rating - The industry investment rating is "Overweight" [3] Core Insights - The integration of Qianwen APP into Alibaba's ecosystem marks a significant shift in AI applications from "chat dialogue" to "service execution," enhancing user experience by allowing seamless transactions across various services without switching applications [1][7][10] - The report emphasizes the importance of companies with technological reserves and customer resources in the marketing sector, as well as traditional media companies with editorial rights, in the evolving AI landscape [1][13] Summary by Sections Qianwen APP Integration - On January 15, Qianwen APP announced its integration with Alibaba's ecosystem, enabling AI-driven functionalities for ordering food, shopping, and travel planning, which significantly lowers user entry barriers [7][8] - The integration allows users to complete transactions through natural language commands, enhancing the overall user experience and operational efficiency [8][10] Industry Performance - The media index increased by 2.04%, ranking 4th among 31 industries, outperforming the Shanghai Composite Index, which decreased by 0.45% [6] - Recommendations for investment include companies like Wanda Film, Perfect World, and Mango Super Media, which are expected to maintain high growth in their respective niches [6][15] Marketing and Media Insights - The report highlights the shift from traditional SEO to GEO marketing strategies, where the focus is on real-time understanding and response to user queries, indicating a transformation in advertising dynamics [13][14] - The credibility and authority of training data for large models will become a core competitive advantage, emphasizing the unique value of mainstream media in the AI era [14]