Investment Rating - The report maintains a "Recommended" rating for key companies in the AI+ government sector, including XinDian Software, BoSi Software, TaxFriend, and others [5][6]. Core Insights - The introduction of "AI+ Government Assistant" in Shenzhen has sparked widespread interest, with multiple regions launching AI government projects. The implementation of the DeepSeek model has improved overall efficiency by at least 20% in various administrative tasks [1][10]. - The AI-enabled government IT systems cover multiple vertical scenarios, including procurement, finance, and taxation, indicating significant potential for cost savings and efficiency improvements [2][14]. - The AI applications in government services, such as the "DeepXiao i" assistant, have shown a 90% accuracy rate in responding to public inquiries, significantly outperforming traditional methods [3][12]. Summary by Sections AI+ Government Applications - The report highlights the rapid deployment of AI projects across various government sectors, with Shenzhen leading the way. The DeepSeek model has been integrated into 240 real-world scenarios, enhancing work efficiency [10][11]. - The digital transformation of government services is projected to grow, with AI playing a crucial role in improving operational efficiency and service delivery [14][17]. Investment Recommendations - The report suggests focusing on the AI+ government industry chain, which includes companies like XinDian Software, BoSi Software, and TaxFriend, as well as the government cloud and integrated machine industry chain [40][41]. - The potential market for AI in government services is vast, covering procurement, finance, taxation, and judicial sectors, with significant opportunities for cost reduction and efficiency gains [40][41]. Key Company Forecasts - The report provides earnings per share (EPS) forecasts for key companies, indicating growth potential. For instance, XinDian Software is projected to have an EPS of 0.63 yuan in 2024, with a PE ratio of 54 [5][6]. - The report emphasizes the importance of AI in enhancing the capabilities of financial and procurement systems, with companies like BoSi Software and ZhongKe JiangNan integrating AI into their operations [24][28].