编号：2026-003 | | ■特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 动类别 | □现场参观 □一对一沟通 | | | □其他 | | | 国海证券 方博云、肖江洁、王海飞；霄沣投资 尹霄羽；中原 | | | 英石基金 赵梓峰；合众资管 潘江；伏明资产 贺振华；博远 | | | 基金管理 谭飞；建信理财 何航；北大方正人寿 付丹婷、范 | | | 泽挺；幻方投资 陆政哲、徐贞武；国寿安保基金 李丹；金元 | | | 顺安基金 侯斌；东吴基金 姜怡；瀚亚投资 韩依瑾；长城财 | | | 富资管 杨海达；泓德基金 付延鹏；铭基博远投资 祝泉；新 | | 参与单位名称 | 华资管 杜敏杰；诚盛投资 完永东；华安基金 辛蔚；泰康基 | | 及人员姓名 | 金 陆建巍；西部利得基金 温震宇、冯皓琪；同泰基金 马毅； | | | 光大保德信基金 林晓凤；广东谢诺辰阳私募 刘泳；弘尚资产 | | | 肖莹；野村东方资管 唐建伟；德邦基金 史彬；大家资管 李 | | | 元龙；上投摩根基金 吴春杰；浦银安盛基 ...

证券研究报告 | 策略报告 gszqdatemark 2026 01 14 年 月 日 投资策略 如何交易年报预告&科创快报？ 一、策略专题：如何交易年报预告&科创快报？ 1 月、2 月分别是年报业绩预告、科创板业绩快报的强制披露期，业绩线 索可能成为市场重要的交易方向，本文以区间内首次披露业绩的个股作为 底层股票池，叠加增速与动量筛选、时序条件、行业筛选，逐次回测最高 胜率与超额收益、对应的持股周期，分析 1~2 月具有怎样特征的个股、持 股多久，能够取得较高的超额胜率与收益。 （1）对于 1 月上旬首披业绩的个股，经历增速与动量筛选、相对高增 筛选后取得最优表现，不宜进一步叠加行业筛选。 （2）对于 1 月中旬首披业绩的个股，经历增速与动量筛选、增速改善筛 选后取得最优表现，不宜进一步叠加行业筛选。 （3）对于 1 月下旬首披业绩的个股，经历增速与动量筛选、相对高增、 行业筛选后组合取得最优表现。 （4）对于 2 月上旬首披业绩的个股，经历增速与动量筛选、相对高增、 行业筛选后组合取得最优表现，但标的较为稀缺。 （5）2 月中旬个股披露极少，虽存在表现较好的个股，但可能不具备太强 的参考价值。 （6）对于 ...

Core Viewpoint - The company's stock price has increased by 125.31% since December 31, 2025, significantly outperforming the ChiNext Composite Index and the industry, indicating a potential risk of short-term price correction [1] Group 1: Stock Performance - The company's stock price has shown a short-term increase that exceeds both the ChiNext Composite Index and industry growth [1] - There is a notable deviation from the overall market index, suggesting a risk of short-term price decline [1] Group 2: Business Operations - The company has confirmed that its production and operational activities are normal, with no significant changes in recent business conditions or external operating environment [1] - The revenue generated from AI-driven initiatives constitutes a small portion of the company's total revenue, indicating that it does not materially impact the company's operational performance or financial condition [1] - The company encourages investors to view the development of related businesses with rationality [1]

Group 1: Market Overview - The advertising and marketing sector increased by 3.83% on January 14, with 易点天下 leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] Group 2: Top Gainers in Advertising Sector - 易点天下 (Code: 301171) closed at 81.32, up 16.15%, with a trading volume of 1.4842 million shares and a transaction value of 11.589 billion [1] - 天龙集团 (Code: 300063) closed at 17.43, up 11.59%, with a trading volume of 3.8409 million shares and a transaction value of 6.499 billion [1] - 省广集团 (Code: 002400) closed at 13.81, up 10.04%, with a trading volume of 4.2306 million shares and a transaction value of 5.583 billion [1] Group 3: Fund Flow Analysis - The advertising and marketing sector experienced a net outflow of 2.516 billion from institutional investors, while retail investors saw a net inflow of 2.179 billion [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Group 4: Individual Stock Fund Flow - 天娱数科 (Code: 002354) had a net inflow of 518 million from institutional investors, but a net outflow of 329 million from speculative funds [3] - 新华都 (Code: 002264) saw a net inflow of 375 million from institutional investors, while speculative funds experienced a net outflow of 183 million [3] - 天下秀 (Code: 600556) had a net inflow of 193 million from institutional investors, with speculative funds seeing a net outflow of 128 million [3]

Core Insights - The AI industry is shifting its investment focus from "computing power competition" to "application value," marking 2026 as a pivotal year for commercial promotion of AI applications [1] - The GEO (Generative Engine Optimization) theme has gained significant attention, revitalizing investor interest in the media sector [1] Group 1: Market Trends - The A-share market has seen a surge in trading volume, with the Shanghai Composite Index experiencing a slight decline of 0.31% while the overall market turnover approached 40 trillion [4] - The media sector, particularly related to GEO, has shown strong performance, with stocks like Yidian Tianxia, Shengguang Group, and Liou Co. rebounding sharply after a brief correction [2][4] Group 2: AI Application Acceleration - Recent policies, including the Ministry of Industry and Information Technology's initiative to promote the application of general large models in manufacturing, indicate a rapid acceleration in AI commercialization [5] - The global GEO market is projected to reach $24 billion by 2026 and $100 billion by 2030, driven by the shift in marketing strategies and the rise of AI-generated content [9][18] Group 3: Investment Opportunities - The Media ETF (512980) has seen a remarkable increase, with a year-to-date growth of 32.46%, making it the top-performing ETF in the market [11] - Significant capital inflows into the Media ETF have been recorded, with a net inflow of 6.449 billion yuan in just two trading days, indicating renewed investor interest [12] Group 4: Marketing Revolution - GEO represents a new marketing strategy that optimizes brand visibility in AI-generated responses, contrasting with traditional SEO methods [7][8] - The adoption of AI tools for product research and comparison is growing, with 58% of consumers using AI for product inquiries, highlighting the transformative impact of AI on traditional marketing [16] Group 5: Future Outlook - 2026 is anticipated to be a "golden year" for AI applications, with the media sector positioned to capture significant commercial benefits from AI advancements [22] - The Media ETF serves as an effective tool for investors to gain exposure to the burgeoning AI-driven media landscape, with its holdings reflecting a diverse range of companies in the sector [19][20]

Group 1 - AI applications and commercial aerospace have emerged as strong market leaders, with significant trading volume and a historic bullish trend in the A-share market [5] - AI e-commerce and GEO sectors are leading the resurgence of AI concepts, with multiple stocks hitting the daily limit up [1][4] - The recent performance of AI-related stocks in both mainland and Hong Kong markets indicates a robust interest and investment in AI technologies [3][4] Group 2 - The upcoming release of DeepSeek V4 is anticipated to enhance AI programming capabilities, potentially reshaping the global AI competitive landscape [15][16] - The Chinese government has issued a directive to strengthen the AI industry, aiming for significant advancements by 2027, including the establishment of 500 typical application scenarios and 1,000 benchmark enterprises [17][18] - The market is shifting focus from computational power to application deployment, indicating a transition to the next phase of AI commercialization [27][29] Group 3 - The GEO (Generative Engine Optimization) sector is gaining traction, focusing on content integration and structured data applications within the AI environment [21][22] - Major tech companies are actively engaging in the GEO space, with initiatives to open-source algorithms and collaborate with leading retailers [25][26] - The AI industry is expected to see accelerated commercialization, with a notable shift in business models driving new software market trends [28][29]

近日该股表现 证券时报·数据宝统计，两融数据来看，该股最新（1月13日）两融余额为4.54亿元，其中，融资余额 4.51亿元，较前一个交易日减少1.18亿元，环比下降20.80%，近4日累计减少7011.10万元，环比下降 13.46%。 龙虎榜数据显示，该股因连续三个交易日内，涨幅偏离值累计达20%、日振幅值达15%上榜龙虎榜2 次，买卖居前营业部中，沪股通累计净卖出3916.97万元，营业部席位合计净卖出5358.37万元。 据天眼查APP显示，天下秀数字科技(集团)股份有限公司成立于1993年11月28日，注册资本180774.7642 万人民币。（数据宝） 天下秀再度涨停，4个交易日内录得3个涨停，累计涨幅为31.22%，累计换手率为75.14%。截至10:58， 该股今日成交量3.13亿股，成交金额28.33亿元，换手率17.32%。最新A股总市值达168.66亿元。 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2026.01.13 | -1.40 | 26.93 | -70694.08 | | 2026. ...

2026年1月14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，生成式人工智能正深刻改变广告营销的底层逻辑。银河证券指出，随着生成式AI的普及，传统 SEO逐渐向GEO（生成式引擎优化）演进，广告主的核心目标已从提升网页排名转向提高内容被大模型 引用和推荐的概率。据中国商务广告协会预测，2025年中国GEO市场规模将达到29亿元，到2030年有 望增长至240亿元，五年复合增速达53%，市场潜力巨大。当前，GEO已成为AI应用商业化的重要方向 之一，正在重塑广告行业的商业模式。 此外，2025年电影市场实现强劲复苏，票房与观影人次双双大幅增长。万联证券分析认为，全年总票房 同比上升22.0%至518.3亿元，主要得益于《哪吒之魔童闹海》等优质国产动画影片的集中发力，单片贡 献近三成票房，并有效激活了增量与存量观众群体。全年观影人次同比增长22.6%至12.38亿，而平均票 价保持稳定，显示需求回升是推动票房增长的核心动力。国产电影呈现"量减质精"趋势，内容质量的提 升显著对冲了供给数量的下降，动画电影更以跨越式发展成为市场核心驱动力。 场内 ...

早盘，万得GEO指数大涨10.89%，流金科技30CM涨停，科大国创、值得买、三维天地、通达海、光云科技20CM涨停，易点天下涨超17%，天龙集团、海 天瑞声涨超15%，中文在线、每日互动、荣信文化、万兴科技、川网传媒、汉得信息涨超10%，浙文互联、人民网、新华网、姚记科技、中国科传、南方传 媒、欢瑞世纪等涨停。 | ( 日 | | GEO指数(8841928) | | | | --- | --- | --- | --- | --- | | | 2548.55 250.34 10.89% | | | | | 资料 | 成分 | 资讯 | 相关基金 | 月度 | | 名称 | | | 现价 | | | 流金科技 | | | 13.57 | | | 920021.BJ | | | | | | 科大国创 | | | 52.72 | | | 300520.SZ | | | | | | 値得买 | | | 83.89 | | | 300785.SZ | | | | | | 三维天地 | | | 61.79 | | | 301159.SZ | | | | | | 通达海 | | | 54.59 | | | 301378. ...

Core Insights - The GEO (Generative Engine Optimization) concept has seen a resurgence in trading activity, with notable stocks like ZhiDeMai rising by 20%, continuing to reach new highs, and accumulating over 80% gains in the last four trading days [1] - The GEO market, driven by AI search technologies, is projected to reach a scale of $10 billion, as traditional search engine traffic is expected to decline by 25% by 2026, with market share shifting towards AI chatbots and virtual agents [1] - Companies in the advertising sector are anticipated to transition from providing marketing services to offering technology services, enhancing profitability [1] Industry Analysis - AI remains a critical narrative in global industries, with a focus on applications that have revenue structures [1] - Generative AI products are becoming core entry points for information acquisition, leading to a new migration of traffic [1] - GEO is expected to adapt to the new marketing paradigm of the AI era, optimizing content's semantic expression, structural form, credibility, and multimodal adaptability to enhance brand visibility and authority in AI-generated responses [1] - The GEO model is still in its early stages, and companies that are rapidly advancing their layouts should be closely monitored [1]