Core Viewpoint - The surge in GEO (Generative Engine Optimization) concept stocks has prompted several listed companies to issue risk warnings, stating they do not engage in GEO business or that GEO business has not generated revenue [3][4]. Group 1: Stock Performance - Companies such as Inertia Media (引力传媒), People's Daily (人民网), and Xinhua Net (新华网) have seen significant stock price increases, with Inertia Media achieving a cumulative increase of 97.54% from December 30, 2025, to January 13, 2026 [4]. - People's Daily's stock rose by 33.75% during the period from January 5 to January 13, 2026, while Xinhua Net's stock increased by 38.5% in the same timeframe [3][5]. Group 2: Company Statements on GEO Business - Inertia Media stated that its GEO division is still in the planning stage and has not formed a mature business model, with uncertainties regarding market acceptance and profitability [5][6]. - Both Inertia Media and Zhejiang Culture (浙文互联) confirmed that their GEO business has not generated any revenue [4][6]. - Zhejiang Culture's stock rose by 43.99% since January 5, 2026, despite its GEO business not generating income [5]. Group 3: Financial Performance - Inertia Media reported a revenue of 6.462 billion yuan and a net profit of 20.36 million yuan for the first three quarters of 2025, with a gross margin of 2.69%, down 1.73 percentage points year-on-year due to increased industry competition and tighter media policies [5]. - Zhejiang Culture's revenue for the same period was 5.605 billion yuan, with a net profit of 127 million yuan, reflecting a year-on-year decline of 19.68% [5]. - Xinhua Net's static price-to-earnings ratio is 77.62, and its rolling price-to-earnings ratio is 64.49, both exceeding industry averages [5].

Investment Rating - The report maintains an "Outperform" rating for the industry [2][3]. Core Insights - AI-assisted shopping is experiencing breakthroughs, with Generative Engine Optimization (GEO) expected to reshape customer acquisition models. The shift from traditional search to generative AI dialogue is becoming a core method for users to obtain information, creating new growth opportunities in the e-commerce sector [4][30]. - The GEO model enhances brand marketing strategies by improving customer acquisition logic and flow operation models, particularly benefiting e-commerce service providers and cross-border e-commerce companies with strong technical integration capabilities [4][30]. Summary by Sections Industry Overview - The report highlights that the application of AI technology is becoming a central focus across various industries, with e-commerce being a significant application area due to its complex scenarios and large data volumes. The transition from traditional search to generative AI dialogue is expected to drive profound changes in brand marketing [4][30]. Market Trends - The GEO market in China is rapidly growing, with a projected year-on-year increase of 215% by Q2 2025. Over 78% of enterprise decision-makers prioritize AI search optimization in their digital transformation strategies. Gartner predicts a 25% decline in traffic from traditional search engines by 2026, as AI chatbots and other virtual AI optimization methods capture more market share [7][30]. Recommendations - The report recommends focusing on platform ecosystems and leading AI tool operators, such as 壹网壹创, 青木科技, and 若羽臣, which can effectively adapt to the GEO model and enhance answer weight logic [5][30]. - It also suggests investing in cross-border e-commerce companies like 焦点科技, 小商品城, and 安克创新, which are expected to benefit from AI empowerment and the GEO model to optimize their profit structures [5][30]. Company Insights - 壹网壹创 is transitioning towards an AI e-commerce service model, leveraging its partnership with Alibaba to enhance its AI applications and drive revenue growth [15][30]. - 青木科技 has integrated AI technology into its operations, achieving over 30% year-on-year growth in AI business revenue, and is focusing on developing GEO capabilities [16][30]. - 若羽臣 is enhancing its marketing tools with AI, improving user engagement and conversion rates through innovative online experiences [17][30]. Cross-Border E-commerce - The GEO model is also transforming the overseas e-commerce sector, where companies are leveraging AI to optimize operations and reduce costs. Successful implementation of GEO strategies can enhance brand exposure and customer acquisition efficiency [18][30].

1月13日，引力传媒（603598.SH）、人民网（603000.SH）、新华网（603888.SH）再度涨停。其中， 引力传媒在近7个交易日走出6个涨停板，人民网、新华网则在最近两个交易日连续涨停。此外，浙文互 联（600986.SH）、浙数文化（600633.SH）在盘中涨停后大幅跳水。 人民网、浙数文化均表示，目前不涉及GEO业务。其中，2026年1月5日至13日期间，人民网累计上涨 33.75%，股价短期涨幅较大。 GEO（生成式引擎优化）概念股大涨，多家上市公司紧急提示风险，纷纷表示"不涉及GEO业 务"或"GEO业务未形成收入"。 （文章来源：第一财经） 引力传媒、新华网、浙文互联则都表示GEO业务尚未形成收入。 其中，引力传媒（603598.SH）近期涨幅最大。自2025年12月30日至2026年1月13日期间，该公司股票 累计上涨97.54%。 浙文互联也是类似的情况，GEO业务尚未形成收入。但是自2026年1月5日以来，股价累计涨幅 43.99%。该公司的最新动态市盈率为132.13倍，根据申万行业分类，所属"传媒行业"市盈率为53.13倍。 该公司前三季度业绩处于下滑状态。2025年前三季 ...

浙文互联也是类似的情况，GEO业务尚未形成收入。但是自2026年1月5日以来，股价累计涨幅 43.99%。该公司的最新动态市盈率为132.13倍，根据申万行业分类，所属"传媒行业"市盈率为53.13倍。 引力传媒、新华网、浙文互联则都表示GEO业务尚未形成收入。 其中，引力传媒（603598.SH）近期涨幅最大。自2025年12月30日至2026年1月13日期间，该公司股票 累计上涨97.54%。 该公司的最新动态市盈率为311.50倍，最新市净率为40.53倍，显著高于行业平均水平。截至2026年1月 13日，引力传媒所处的L7租赁和商务服务业的最新静态市盈率为32.49倍，最新市净率为2.23倍。 面对飙涨的股价，引力传媒称，公司GEO事业部仍处于组建筹划阶段，GEO业务尚未形成成熟的商业 模式，其市场认可度及盈利模式均存在不确定性，该业务尚未形成相关收入。目前，公司主营业务仍为 广告代理服务。 同时，该公司提示称，业绩存在波动风险。2025年前三季度，引力传媒实现营业收入64.62亿元，实现 归属于上市公司股东的净利润2036.02万元，毛利率2.69%，较去年同期下降1.73个百分点，主要系行业 竞争 ...

1月13日晚间，多家上市公司公开回应相关业务情况。 引力传媒(603598.SH)发布股票交易异常波动暨风险提示公告，公司关注到有媒体将公司列为GEO概念 股。目前，公司主营业务仍为广告代理服务。截至目前，公司GEO事业部仍处于组建筹划阶段。公司 GEO业务尚未形成成熟的商业模式，其市场认可度及盈利模式均存在不确定性，该业务尚未形成相关 收入。 浙文互联(600986.SH)发布风险提示公告，公司关注到有媒体将公司列为GEO概念股。截至本公告披露 之日，公司GEO业务尚未形成成熟的盈利模式，市场认可度及盈利性均存在不确定性，目前尚未形成 相关收入。 新华网(603888.SH)公告称，公司股票1月5日至1月13日收盘价累计涨幅38.5%，高于行业平均水平。公 司GEO业务未形成收入：近日，有媒体将公司列为GEO概念股。经自查，公司GEO业务尚未形成成熟 的盈利模式，市场认可度及盈利性均存在不确定性，目前尚未形成收入。 南方财经全媒体集团投资传媒记者 李昊 1月13日，GEO（生成式引擎优化）概念股逆市大涨。消息面上，马斯克近期发文称，将会在7天内开 源新的算法，包括所有用于决定向用户推荐哪些自然内容和广告帖子 ...

Core Viewpoint - The recent surge in A-share market, particularly the "New Yi Zhong Tian" combination, is driven by the emerging concept of "GEO" (Generative Engine Optimization), reflecting both genuine market demand and speculative capital activities [1][2]. Group 1: Market Dynamics - The "New Yi Zhong Tian" combination, consisting of Yidian Tianxia, Zhongwen Online, and Tianlong Group, has seen stock prices increase by over 47% within a few trading days [1][3]. - The GEO concept is gaining traction as a critical strategy for brands to enhance visibility and authority in AI-generated content, contrasting with traditional SEO methods [2][3]. - The global GEO service market is projected to grow from $1.2 billion to $3.5 billion by 2026, with a compound annual growth rate (CAGR) exceeding 140% [3]. Group 2: Company Profiles - Yidian Tianxia, as a Google primary agent, focuses on overseas marketing and is viewed as a potential player in the cross-border GEO field [4]. - Zhongwen Online provides compliant copyright data to large models, positioning itself as a core content provider in the GEO ecosystem [4]. - Tianlong Group leverages its internet marketing experience to develop AIGC engine-related businesses, which are interpreted as foundational capabilities for GEO applications [4]. Group 3: Investment Trends - The concentrated capital interest in the "New Yi Zhong Tian" combination has made it a leading sector player, with other AI marketing stocks also experiencing significant price increases [5]. - As of January 13, Tianlong Group's stock has risen by 82.26%, Yidian Tianxia by 72.86%, and Zhongwen Online by 47.37% [4]. Group 4: Financial Performance - Yidian Tianxia reported a revenue of 2.717 billion yuan, a year-on-year increase of 54.94%, with a net profit of 204 million yuan, up 4.41% [8]. - Tianlong Group's revenue for the first three quarters was 5.459 billion yuan, down 5.84%, but net profit increased by 129.06% to 111 million yuan [8]. - Zhongwen Online continued to report losses, with a revenue of 1.011 billion yuan, a 25.12% increase, but a net loss of 520 million yuan, widening by 176.64% [8]. Group 5: Market Sentiment and Risks - The current market sentiment reflects a "concept premium," with concerns about the disconnect between valuations and actual performance [6][8]. - Many companies, including Yidian Tianxia and Liao Shares, have issued risk warnings indicating that their GEO-related business models are still in the early stages and lack substantial revenue contributions [9].

Group 1 - The technology industry is experiencing differentiation, with fluctuations in computing infrastructure and continued growth in AI applications driven by the "GEO" concept [1][3] - The low-fee cloud computing ETF (159890) saw active trading despite a decline, with a net inflow of 30 million during intraday trading [1][2] - Stocks within the ETF showed mixed performance, with notable gains from companies like Yitong Tianxia (up over 13%), Youfu Network (limit up), and Wanxing Technology (up over 10%) [1] Group 2 - The GEO (Generative Engine Optimization) concept is gaining traction, focusing on content optimization strategies for large models to enhance brand visibility in AI-generated responses [3] - Major industry players are expected to launch related products and strategies in the first half of 2026, which is anticipated to drive further interest in the GEO concept [3][4] - The successful IPOs of companies like Zhipu and MiniMax, which focus on general artificial intelligence models, are boosting confidence in the sector [3] Group 3 - 2026 is projected to be a pivotal year for AI applications, transitioning from technical validation to large-scale commercial promotion, with large models serving as key hubs for traffic and commercialization [4] - The cloud computing ETF (159890) tracks a comprehensive range of sectors including computer software, cloud services, and communication equipment, with a significant focus on AI applications [4]

Core Viewpoint - A marketing revolution is underway, shifting from "keyword ranking" to "AI answer priority," significantly impacting the media sector, as evidenced by the surge in the Media ETF Huaxia (code: 516190) with a net inflow of 575 million yuan on January 12 [1][6]. Group 1: Market Dynamics - The announcement by Elon Musk to open-source the content recommendation algorithm of the X platform has marked the arrival of the Generative Engine Optimization (GEO) era [1]. - The A-share media sector experienced a wave of price surges, with companies like Liou Co. and Yidian Tianxia achieving consecutive price limits, and the Media ETF Huaxia rising over 8% after an 8.41% increase the previous week [1][6]. - The GEO revolution is expected to create a trillion-yuan market space, as investors recognize the potential of this shift [1]. Group 2: GEO Characteristics - Unlike traditional SEO, GEO emphasizes logical coherence, authoritative data, and emotional resonance in content [2]. - The demand from advertisers is transitioning from "ranking priority" (SEO) to "answer priority" (GEO), leading to innovations in marketing and media business models [2]. - The GEO market in China is projected to reach approximately 2.9 billion yuan by 2025 and 24 billion yuan by 2030, with the global market expected to exceed 100 billion dollars [2]. Group 3: Investment Opportunities - The Media ETF Huaxia (516190) is identified as a prime investment vehicle for the GEO revolution, as its constituent stocks align closely with GEO concepts [3]. - The ETF includes leading companies in online retail, advertising, film publishing, gaming, and digital media, with top holdings such as Focus Media, Giant Network, and BlueFocus [3][4]. - As of January 9, the ETF has achieved a year-to-date return of 13.15% and a one-year return of 52.38%, significantly outperforming the CSI 300 index [6]. Group 4: Long-term Outlook - The transition from traditional search to AI-driven dialogue signifies a fundamental change in how users access information, positioning GEO optimization as a critical area for corporate marketing [6][7]. - The Media ETF Huaxia is well-positioned for long-term investment due to the ongoing trends of traffic entry reshaping, conversion chain reconstruction, and concentrated event catalysts [7].

1月13日，AI应用板块表现活跃，AI应用细分概念——"GEO"（生成式引擎优化）再走强，被市场称为 新"易中天"组合的——易点天下、中文在线、天龙集团均大涨，易点天下一度三连板。 据媒体报道称，马斯克当地时间1月10日在社交媒体平台X发文称，将在一周内正式开源X平台最新的内 容推荐算法，覆盖"所有用于决定向用户推荐自然内容和广告内容的代码"。马斯克表示，"此过程将每 四周重复一次"，同时附带开发者说明，标注算法和逻辑上的改动内容。 截至发稿，天龙集团20%涨停，易点天下、中文在线均涨超10%。浙文互联、引力传媒、利欧股份等涨 停。 编辑丨瑜见 | 代码 | 名称 | 米唱 | 息金额 | 息市值 | 现价 | | --- | --- | --- | --- | --- | --- | | 920021 流金科技 | | +27.23% | 13.22 Z | 37.39 Z | 12.05 | | e88382 | 光云科技 | +20.02% | 16.19 Z | 125.1 乙 | 29.38 | | 301 408 | 华人健康 | +20.00% | 13.06 Z | 110.4 Z | 27. ...

2026年1月13日早盘，AI应用方向延续强势，引力传媒7天6板，易点天下、卓易信息、迪安诊断、利欧 股份、省广集团均3连板。 近期，AI应用正推动内容产业的深刻变革。东北证券指出，2025年被视为AI漫剧行业发力元年，全年 上线漫剧数量达46931部，下半年呈现"阶梯式爆发"态势，仅6-12月增长11.5倍。巨量引擎数据显示，预 计2025年末全年漫剧市场规模有望突破200亿元。AI漫剧具备低成本、短周期优势，单部制作成本大多 集中在5-15万元区间，显著低于传统短剧，且测出率更高，商业模式已率先跑通。随着平台扶持力度加 大和IP改编效率提升，2026年或成为漫剧生态发展的关键一年。 此外，DeepSeek计划于2026年2月中旬农历新年前后发布其新一代旗舰模型V4，该模型在内部基准测试 中展现出优于Anthropic Claude及OpenAI GPT系列的代码生成能力。华源证券表示，V4模型在超长上下 文处理、数据模式理解和推理性能方面均有突破，有望进一步推动AI辅助编程工具的商业化进程。与 此同时，国产多模态模型能力持续进化，叠加春节档期间大厂AI产品的密集互动布局，或将加速AI应 用在C端用户的渗透 ...