Investment Rating - The report maintains a "Recommended" investment rating for the AI industry, highlighting the continuous evolution of domestic agents and the promotion of universal protocols for systematic applications [2]. Core Insights - The AI agent field is experiencing rapid advancements, with capabilities doubling approximately every seven months since the release of ChatGPT in 2022, leading to an exponential increase in the tasks that AI agents can complete [5]. - Major internet companies are competing to capture the AI internet era's new interaction entry point, with AI agents inheriting the core attributes of the app era and showing advantages in service delivery, network effects, and developer ecosystems [9]. Summary by Sections Section 1: Domestic Intelligent Agent Technology Innovation - The report discusses the launch of ByteDance's Coze Space, a universal agent product designed to facilitate efficient collaboration between users and AI agents, enabling the completion of complex tasks [13][14]. - Coze Space features two collaboration modes: an exploration mode for lightweight tasks and a planning mode for complex needs, allowing for real-time user input during task execution [17]. Section 2: MCP Open Protocol Continues to Expand - The introduction of the Agent2Agent (A2A) open protocol by Google aims to enable communication and secure information exchange between different AI agents, enhancing collaborative task execution across platforms [69]. - A2A facilitates interactions between client and remote agents, allowing for capability discovery, task management, and secure collaboration, thereby increasing operational efficiency [72]. - Microsoft announced plans to leverage the MCP to create an open "agentic web," where AI agents can autonomously initiate tasks and collaborate with minimal human oversight [80]. Section 3: Related Targets - The report identifies several companies involved in AI agent development, including Zhuoyi Information, which is focused on low-code integrated development environments (IDEs) that incorporate AI capabilities to enhance coding efficiency [84]. - Puyuan Information is integrating advanced large model capabilities into its low-code development platform, enhancing developer productivity through intelligent assistance [89]. - Hehe Information has launched an MCP server service for document processing, significantly improving the efficiency of intelligent document handling tasks [90].

Investment Rating - The report maintains a "Recommended" investment rating for the AI industry, highlighting the continuous evolution of domestic agents and the promotion of universal protocols for systematic applications [2]. Core Insights - The AI agent field is experiencing rapid advancements, with capabilities doubling approximately every seven months since the release of ChatGPT in 2022, leading to an exponential increase in the tasks that AI agents can complete [5]. - Major internet companies are competing to capture the AI agent market, which is expected to surpass the existing app ecosystem by providing more versatile and service-oriented solutions [9]. - The introduction of the Agent2Agent (A2A) protocol by Google aims to enhance communication and collaboration between different AI agents, significantly improving operational efficiency across platforms [69][72]. Summary by Sections Section 1: Domestic Intelligent Agent Technology Innovation - The report discusses the launch of ByteDance's Coze Space, a versatile agent product designed to facilitate efficient collaboration between users and AI agents, enabling the completion of complex tasks [13][14]. - Coze Space features two collaboration modes: an exploration mode for quick task completion and a planning mode for in-depth user engagement [14][17]. - The report also mentions the introduction of specialized agents within Coze Space, such as a user research expert and a stock observation assistant, which enhance the platform's functionality [19][20]. Section 2: MCP Open Protocol Continues to Expand - The A2A protocol allows different AI agents to communicate and collaborate on complex tasks, enhancing the overall efficiency and innovation potential of AI systems [69][72]. - Microsoft has announced support for the A2A protocol through its Azure AI Foundry and Microsoft Copilot Studio, indicating a significant shift towards collaborative AI systems [69][72]. - The report highlights the integration of various tools and applications with the MCP protocol, enabling seamless task execution across platforms [76][80]. Section 3: Related Companies - The report identifies several companies involved in the AI agent space, including Zhuoyi Information, which is developing low-code IDE tools integrated with AI capabilities to enhance software development efficiency [84][85]. - Puyuan Information is also mentioned for its low-code platform that incorporates advanced model capabilities to assist developers in code generation and data modeling [89]. - Hehe Information has launched an MCP server service for document processing, aimed at facilitating the use of intelligent document processing agents in various industries [90].