Core Viewpoint - The report from CITIC Securities anticipates continued growth in the computing power sector driven by sustained capital expenditures (Capex) from major CSPs, increasing demand for tokens, and continuous product capability enhancements [1] Group 1: Performance Outlook - The computing power sector's performance is expected to maintain a favorable growth trajectory through 2025 [1] - AI applications are projected to show structural highlights, particularly in areas such as AI fintech, AI healthcare, and AI data, with general agent applications also demonstrating resilient growth [1] - Overall profitability in the sector is likely to improve significantly [1] Group 2: Future Projections - Looking ahead to 2026, the computing power sector is expected to continue its favorable conditions, with AI applications poised to reach pivotal opportunities [1]

A股开盘，三大指数集体低开，沪指低开0.27%报4090.72点，深证成指低开0.41%，创业板指低开 0.6%。盘面上，特朗普关税威胁引发避险需求，黄金和白银价格再创历史新高，贵金属板块高开；AI 应用概念股继续调整。容百科技竞价跌停，此前证监会对容百科技重大合同公告涉嫌误导性陈述立案调 查。 ...

Core Viewpoint - The AI application sector has recently experienced a significant downturn, despite being one of the hottest areas at the beginning of the year, driven by the recent performance of large model companies and the introduction of new technologies [1][2][5][6]. Group 1: Market Dynamics - The recent surge in AI applications was fueled by the successful listings of large model companies like MiniMax and Zhipu, which improved market sentiment and expectations for AI application growth [5]. - The acquisition of the AI application company "Butterfly Effect" by Meta for billions of dollars has increased the recognition of AI applications in China [5]. - The introduction of domestically developed inference chips has drastically reduced AI invocation costs, leading to price reductions by large model companies [5]. Group 2: Marketing and GEO - The marketing and media sector has been the primary focus of the AI application boom, particularly following Elon Musk's announcement to open-source the latest content recommendation algorithm for the X platform [6][10]. - Generative Engine Optimization (GEO) has emerged as a new trend, aiming to enhance brand content visibility in AI-generated responses, with a projected market size of $11.2 billion globally and ¥2.9 billion in China by 2025 [8][14]. - The shift from traditional SEO to AI-driven marketing strategies is transforming the marketing landscape, with AI expected to replace 50% of search engine traffic by 2028 [11][12]. Group 3: Company Performance - BlueFocus has shown impressive performance, with a 12.5% year-on-year revenue growth to ¥51.098 billion in the first three quarters of 2025, and a significant 85.53% increase in net profit [15]. - AI-driven revenue for BlueFocus surged by 310%, although it still represents less than 5% of total revenue, indicating potential for future growth if the company can establish a self-sustaining marketing model [15][16]. - The competitive landscape for BlueFocus includes major players like ByteDance and Alibaba, which have developed their own marketing tools, necessitating BlueFocus to demonstrate the unique capabilities of its self-developed AI [17]. Group 4: Future Outlook - The year 2026 is anticipated to be pivotal for AI applications, with advancements in model capabilities and supportive policies driving demand [20][21]. - The marketing sector is expected to benefit significantly from AI, with companies like AppLovin reporting a 71% increase in advertising revenue due to AI integration [22]. - The rise of AI-generated content, such as AI manga, is creating new market opportunities, with significant production and consumption potential [23][25]. - The integration of AI into traditional industries like manufacturing and finance is expected to yield substantial efficiency gains, enhancing companies' willingness to invest in AI solutions [29].

Core Viewpoint - The article discusses the recent downturn in the AI application sector, highlighting the volatility and potential future trends in the industry, particularly focusing on Generative Engine Optimization (GEO) and its implications for marketing and AI applications [2][12][22]. Group 1: Market Trends and Performance - The AI application sector experienced a significant drop, with companies like Visual China hitting a trading halt and others like Liou Co. and Yidian Tianxia facing scrutiny after rapid stock price increases [3][5]. - The recent listing of large model companies such as MiniMax and Zhipu has increased market enthusiasm, indicating a growing commercial viability for AI applications [7][8]. - The cost of AI operations has drastically decreased due to the large-scale deployment of domestically developed inference chips, prompting many large model companies to lower their prices [10][11]. Group 2: Generative Engine Optimization (GEO) - GEO, defined as Generative Engine Optimization, aims to enhance the visibility of brand content in AI-generated responses, potentially increasing citation rates by 40% [15][16]. - The global GEO market is projected to grow significantly, with estimates of $11.2 billion in 2025 and $100.7 billion by 2030, reflecting a compound annual growth rate (CAGR) of 55% [22]. - The marketing landscape is shifting as AI search engines begin to replace traditional search methods, with predictions that AI search will capture 50% of search engine traffic by 2028 [18][19]. Group 3: Company Performance and Future Outlook - BlueFocus, a marketing company, reported a revenue of 51.098 billion yuan in the first three quarters of 2025, with a notable 310% increase in AI-driven business revenue [26][27]. - Despite impressive growth, AI-driven revenue still represents less than 5% of BlueFocus's total revenue, indicating room for expansion [28]. - The article suggests that while GEO may transform marketing strategies, the fundamental competitive dynamics of the marketing industry remain focused on scale [34]. Group 4: Future of AI Applications - The article anticipates that 2026 will be a pivotal year for AI applications, driven by advancements in model capabilities and supportive policies from government bodies [36][38]. - AI applications are expected to proliferate across various sectors, including marketing, industrial, and financial services, enhancing efficiency and driving revenue growth [52]. - The emergence of AI-generated content, such as AI cartoons, is highlighted as a new trend, with significant market potential indicated by the rapid increase in AI-generated media [44][46].

Market Performance - The Shanghai Composite Index fell by 0.6% [1] - The Shenzhen Component Index decreased by 0.44% [1] - The ChiNext Index dropped by 1.02% [1] - The STAR Market Index declined by 2.02% [1] Sector Performance - AI applications, commercial aerospace, stablecoins, CRO, medical services, and intelligent driving concept stocks all experienced declines [1] - Retail and brokerage sectors had the largest drops [1] - Energy metals and chemical sectors showed resilience and performed well against the market trend [1]

Market Overview - The three major A-share indices collectively declined, with the Shanghai Composite Index falling by 0.6% to 4101.52 points [1] - The Shenzhen Component Index decreased by 0.44%, while the ChiNext Index dropped by 1.02% [1] - The North Stock 50 index experienced a significant decline of 2.31% [1] Trading Activity - The total market turnover was 189.52 billion yuan, which represents a decrease of 35.06 billion yuan compared to the previous day [1] - Over 3600 stocks experienced a decline during the trading session [1] Sector Performance - The gold, lithium mining, and other non-ferrous metal sectors saw a counter-trend increase [1] - Hotel and tourism stocks experienced a general rise [1] - Conversely, sectors such as AI applications, military electronics, commercial aerospace, and medical services collectively underwent a correction [1]

Market Overview - The Shanghai Composite Index fell by 0.6%, the Shenzhen Component Index decreased by 0.44%, the ChiNext Index dropped by 1.02%, and the Northern Stock 50 declined by 2.31% [1] - The total market turnover was 1,895.2 billion yuan, a decrease of 350.6 billion yuan compared to the previous day [1] Sector Performance - Precious metals, energy metals, and agricultural chemicals sectors were active, while commercial aerospace and AI application sectors experienced adjustments [1] - The precious metals sector continued to strengthen, with Sichuan Gold hitting the daily limit, and Hunan Silver and Xiaocheng Technology rising nearly 6% [1] - The energy metals sector saw gains, with Huayou Cobalt and Yuanhang Precision increasing over 6% [1] - The agricultural chemicals sector performed well in the morning, with Dongfang Tower rising over 8%, and Baiao Chemical and Lianhua Technology increasing over 7% [1] Notable Declines - The commercial aerospace sector adjusted, with multiple stocks such as Zhongke Xingtou, Tianrun Technology, and Hongxiang Co. falling over 10% [1] - Stocks like Leike Defense, Changjiang Communication, and Aerospace Electronics hit the daily limit down [1] - The AI application sector also faced adjustments, with Tianlong Group, Zhidema, and Hongbo Medicine hitting the daily limit down, and stocks like Tongda Hai and Guangha Communication dropping over 10% [1]

Core Viewpoint - The article emphasizes the need for real user feedback on AI applications to distinguish between genuinely useful tools and those that are not effective, highlighting the launch of the "Moli Experience Officer" program to gather such insights [1]. Group 1: AI Applications Tested - The evaluation includes seven AI applications designed for various needs: - Get Notes: An AI-driven efficient note-taking and knowledge management tool [5]. - Seede AI: A no-barrier AI design and graphic creation platform [5]. - Unicorn Hunter: An AI-powered recruitment and resume optimization platform [5]. - Manus: A tool focused on optimizing gesture interaction and creative workflows through AI [5]. - LilyFM: An AI audio reading app that converts web pages, scanned documents, PDFs, and images into personalized podcasts [5]. - Ant Ai Fu: A professional healthcare AI application under Ant Group [10]. - Kapi Accounting: An app designed for accounting enthusiasts with various quick accounting methods [10]. Group 2: Participation and Rewards - Participants can join the program by adding "Moli Xiao A" on WeChat and replying with "7-day partner" to enter the exclusive activity community [8]. - The program runs from January 12 to January 18, with daily evaluations of the applications shared in the community [12]. - Participants who provide high-quality reviews may receive additional rewards, such as JD gift cards or Geek Time monthly subscriptions [14]. Group 3: Program Objectives - The initiative aims to foster direct communication between users and developers, encouraging feedback that could drive product optimization [16]. - The program seeks to create a realistic and rational evaluation environment to identify truly valuable AI tools from a plethora of options [16].

Market Overview - The A-share market opened with all three major indices rising collectively, with the Shanghai Composite Index opening up 0.11% at 4169.7 points [1] - The Shenzhen Component Index increased by 0.21%, while the ChiNext Index saw a rise of 0.07% [1] Sector Performance - The AI application concept stocks continued their upward trend, with companies such as Yidian Tianxia, Tongdahai, and Dian Diagnostics hitting the 20% daily limit up [1] - The military equipment sector experienced a correction [1]

Group 1 - The Hong Kong stock market's AI application sector showed strong performance in the afternoon, with notable gains in specific stocks [1] - Zhihui Technology (智谱) surged over 60%, indicating significant investor interest and confidence in its AI applications [1] - MiniMax experienced a nearly 30% increase, reflecting positive market sentiment towards AI-related investments [1]