CMS·2026-02-01 06:01Investment Rating - The report maintains a "Recommended" rating for the AI e-commerce industry, indicating a positive outlook for the sector's fundamentals and expected performance exceeding the benchmark index [2]. Core Insights - The report emphasizes the explosive growth of AI applications, particularly in AI e-commerce, which is seen as a critical component in the competition for AI super entry points among major players [1][5]. - AI e-commerce is expected to facilitate complex purchasing processes, with significant potential for Gross Merchandise Volume (GMV) growth, as it can assist consumers in making informed decisions across various sectors, including travel, automotive, and healthcare [5]. - The report suggests a strong investment thesis for the AI e-commerce supply chain, highlighting specific companies such as Tencent Holdings, Worth Buying, Guangyun Technology, Ruoyuchen, Qingmu Technology, and Yiwan Yichuang as key players to watch [5]. Industry Overview - The industry comprises 160 listed companies with a total market capitalization of 2,248.3 billion and a circulating market value of 2,067.2 billion [2]. - The absolute performance of the industry has shown significant growth, with increases of 18.8% over one month, 22.4% over six months, and 39.3% over twelve months [4].