-20 0 20 40 60 80 (%) 计算机 沪深300 2025 年 06 月 06 日 DeepSeek R1-0528 升级，字节扣子空间上线一 键转播客功能 推荐(维持) 投资要点 分析师：宝幼琛 S1050521110002 baoyc@cfsc.com.cn 行业相对表现 表现 1M 3M 12M 计算机(申万) -1.1 -14.8 43.2 沪深 300 1.8 -2.0 7.9 市场表现 ▌AI 应用： Gemini 平均访问量环比 +19.39%， 字节 扣子空间上线一键转播客功能 5 月 27 日，字节跳动旗下的 AI 协同办公平台扣子空间推出了 全新功能模块——播客音频生成，标志其打通了"文本—代 码—音视频"的全流程。 其次，与初代 R1 相比，DeepSeek-R1-0528 的幻觉率降低了 45%-50%。尤其是，在改写润色、总结摘要、阅读理解等场景 中，新模型能提供更加准确、可靠的结果。而且，DeepSeek- R1 还专门针对论文、小说、散文等问题，进行了进一步优 化。由此，它能够输出篇幅更长、结构内容更完整的长篇大 作，更加贴近人类偏好的写作风格。 资料来源：Wind ...

2025 年 06 月 06 日 DeepSeek R1-0528 升级，字节扣子空间上线一 键转播客功能 推荐(维持) 投资要点 分析师：宝幼琛 S1050521110002 baoyc@cfsc.com.cn 行业相对表现 表现 1M 3M 12M 计算机(申万) -1.1 -14.8 43.2 沪深 300 1.8 -2.0 7.9 市场表现 -20 0 20 40 60 80 (%) 计算机 沪深300 资料来源：Wind，华鑫证券研究 相关研究 1、《计算机行业点评报告：英伟达 （NVDA.O）：英伟达财报超预期， APU+AI 驱动稳健增长》2025-06-05 2、《计算机行业点评报告：苹果 （AAPL.O）：硬件服务双线稳增， 研发协同优化盈利》2025-06-05 3、《计算机行业点评报告：特斯拉 （TSLA.O）：短期盈利承压显著， 长期 AI+能源双擎驱动技术领航》 2025-05-30 ▌算力： 算力租赁价格略有波动， DeepSeek R1- 0528 升级 5 月 29 日，DeepSeek 正式官宣 R1 已完成小版本升级，开启 「深度思考」功能即可体验。在多项基准测试中，Dee ...

Group 1: AI Industry Insights - The China Securities Artificial Intelligence Theme Index (930713) decreased by 1.82% as of May 30, 2025, with notable stock movements including Stone Technology (688169) up by 0.96% and Zhongke Xingtu (688568) down by 9.16% [1] - The AI Artificial Intelligence ETF (512930) fell by 1.69%, with a latest price of 1.28 yuan, but showed a 2.12% increase over the past month [1] - The AI Artificial Intelligence ETF has seen a net inflow of 78.39 million yuan over the last 18 trading days, averaging 4.35 million yuan per day [1] - The AI sector is entering a 3.0 phase, focusing on the large-scale deployment of agents (intelligent entities), with 2025 potentially being the year of agents [6] Group 2: Consumer Electronics Sector - The China Securities Consumer Electronics Theme Index (931494) declined by 2.11% as of May 30, 2025, with East Mountain Precision (002384) leading the decline at 3.97% [3] - The Consumer Electronics ETF (561600) decreased by 1.94%, with a latest price of 0.76 yuan, but has increased by 24.72% over the past year [3] - The Consumer Electronics ETF has seen a significant growth in scale, adding 11.11 million yuan in the past month, ranking second among comparable funds [3] Group 3: Online Consumption Sector - The China Securities Hong Kong-Shanghai Online Consumption Theme Index (931481) fell by 2.20% as of May 30, 2025, with notable stocks like Zhangqu Technology (300315) up by 6.89% [4] - The Online Consumption ETF (159793) decreased by 1.46%, with a latest price of 0.88 yuan, but has shown a 1.49% increase over the past month [4] - The index tracks 50 companies involved in online shopping, digital entertainment, online education, and telemedicine, reflecting the overall performance of the online consumption sector [7]

Core Insights - The launch of Manus and the popularity of the Model Context Protocol (MCP) have accelerated the development of intelligent agents among major companies since April 2023 [1][24] - Various companies have introduced MCP services, enhancing the capabilities of their intelligent agents and breaking down software barriers, leading to improved efficiency and accuracy [3][24] Group 1: Company Developments - Alibaba Cloud launched the MCP service on April 9, 2023, followed by Ant Group, ByteDance, and Baidu introducing their respective MCP integrations throughout April [1] - By April 29, 2023, multiple domestic companies, including Yingmi Fund and Guangfa Securities, had begun offering services through Alibaba's MCP platform, covering areas such as fund advisory and stock analysis [3][19] - Baidu's integration of MCP into its products allows users to complete transactions directly through intelligent agents, marking a significant step in e-commerce capabilities [13][16] Group 2: Performance Testing - Initial tests of Alibaba's MCP service showed a limited range of services, but subsequent tests revealed a growing number of providers and functionalities [3][19] - The intelligent agent created by the reporter was able to recommend specific funds after integrating with Yingmi Fund's MCP service, showcasing the enhanced capabilities of MCP [5][4] - ByteDance's intelligent agent demonstrated significant improvements in task execution speed and accuracy after integrating MCP, completing complex tasks in a fraction of the time compared to previous methods [9][12] Group 3: Market Trends and Challenges - The integration of MCP services is transforming platforms into application stores for AI, with companies exploring new business models and user engagement strategies [23][24] - The varying number of MCP services across different platforms indicates a competitive landscape, with each company aiming to enhance their offerings [19][20] - Concerns regarding the security of MCP protocols have been raised, highlighting the need for robust measures to protect user data and ensure safe interactions between intelligent agents [29][30]