Investment Rating - The industry investment rating is "Outperform the Market," indicating an expectation that the industry index will perform better than the benchmark index over the next 6-12 months [30]. Core Insights - ByteDance launched several new products at the Volcano Engine Force conference, including the Doubao model 1.6 and the Seedance 1.0 pro video generation model, which has shown outstanding performance in complex reasoning and multi-turn dialogue tests [11][12]. - The Doubao model has a daily token usage exceeding 16.4 trillion, with a market share of 46.4% in China's public cloud model market, leading the sector [12]. - The new generation of domestic optical quantum computer "TurningQ Gen2" was showcased at the Shanghai International Technology Fair, demonstrating computational power comparable to top supercomputers while being energy-efficient and compact [13][14]. - NVIDIA plans to build over 20 AI factories in Europe to enhance AI computing power by tenfold by 2026, collaborating with Mistral AI to create a comprehensive AI ecosystem [15][16]. Summary by Sections Company Developments - iFlytek held a product upgrade conference, launching the upgraded version of its intelligent interaction product, which enhances multilingual capabilities and integrates code generation features [22]. - Suzhou Technology disclosed that its high-precision Lovesim simulation engine has been applied in various aerospace control systems [22]. Investment Recommendations - Attention is recommended for companies in the ByteDance supply chain, including Dazhi Technology, Borui Data, and others, due to the strong market position of the Doubao model [4].