Group 1 - Nomura's report indicates that Baidu (BIDU.O) recently launched two upgraded versions of its LLM models, 4.5Turbo and X1Turbo, focusing on cost reduction and multi-model performance [1] - Baidu expects the average cost of LLMs to continue decreasing, with the capabilities of top-tier models like 4.5Turbo being sufficient to meet many user needs, laying a solid foundation for the rise of AI applications [1] - The report highlights Baidu's exploration of AI application potential through various self-developed AI applications, including the AI-driven programming tool Miaoda, which allows coding using natural language [1] Group 2 - The most notable application mentioned is the Robotaxi, which utilizes a significant amount of Baidu's AI technology [1] - Despite geopolitical risks, Baidu remains optimistic about the future of AI [1] - Nomura maintains a target price of $98 for Baidu's US stock and a "neutral" rating [1]

Real Estate Sector Performance - The A-share and Hong Kong stock markets saw a significant surge in real estate stocks, marking it as one of the biggest highlights of the morning session [1][2] - The real estate market has shown signs of stabilization, with various statistics indicating a recovery trend. In Q1, the market officially welcomed signals of stabilized trading volume [4][5] - The average premium rate for land auctions in 22 key cities was around 20% from January to April, indicating increasing land market activity [5] Stock Performance - The A-share real estate sector rose over 2%, with notable stocks such as Debi Group (300947) experiencing a peak increase of over 15% [2] - Several stocks hit the daily limit, including Nanguo Real Estate (002305), Shilianhang (002285), Yudai Development (000514), and Dalong Real Estate (600159) [2][3] - In the Hong Kong market, the domestic real estate index saw a peak increase of nearly 4%, with stocks like Jinhui Holdings surging over 80% [3] Baidu's New AI Models - Baidu Group's stock rose significantly, with an intraday increase of over 5% following the release of two new AI models, Wenxin 4.5 Turbo and Wenxin X1 Turbo [6][7] - The new models feature enhanced multi-modal capabilities, improved reasoning, and reduced costs, with Wenxin 4.5 Turbo's input price dropping by 80% to 0.8 yuan per million tokens [9][12] - Wenxin X1 Turbo offers longer thinking chains and stronger deep thinking capabilities, with a 50% price reduction for its input tokens [9] New Stock Performance - The newly listed stock, Zhongjie Automobile (301560), saw a remarkable increase of over 250% during its debut [10] - Zhongjie specializes in precision processing components for automotive thermal management systems, aligning with the global trend towards lightweight and environmentally friendly vehicles [10] - The company's sales revenue from new energy vehicle components is projected to increase from 29.16% in 2022 to 37.41% by 2024, indicating a strong focus on the new energy sector [10]