Core Insights - The AI application sectors, including software, media, and fintech, are experiencing significant activity, with the CSI Software Service Index rising by 2.1% as of 13:50 on February 3rd [1] - Several domestic model manufacturers have updated their models, showcasing advancements in AI technology, with notable releases from companies like Kuaile AI, DeepSeek, Kimi, and Alibaba [1] - CITIC Securities reports that AI applications are showing structural highlights, particularly in fintech, healthcare, and data sectors, with overall profitability expected to improve significantly by 2026 [1] Group 1 - The CSI Software Service Index includes 30 stocks related to software development and services, covering various AI application scenarios such as AI + office, AI + finance, and AI + education [1] - The top ten weighted stocks in the index, including iFLYTEK, Kingsoft Office, and Tonghuashun, account for over 60% of the index, providing investors with a streamlined way to capture investment opportunities in the AI application field [1]

今日，千问APP宣布将投入30亿启动"春节请客计划"，该计划将于2月6日上线，联合淘宝闪购、大麦、 飞猪、盒马等阿里生态业务，以免单形式请全国人民用AI吃喝玩乐，加速普及AI时代的全新生活方 式。此前，百度文心与腾讯元宝也宣布将发放数亿元春节现金红包，春节已然成为大厂展示AI应用实 力的重要场景。 中证港股通互联网指数由港股通范围内30家涉及互联网相关业务的股票组成，精准覆盖电商平台、内容 生态、社交媒体及软件服务等核心互联网领域，AI应用占比较高；中证软件服务指数则由A股中30只业 务涉及软件开发、软件服务等领域的股票组成，覆盖AI+办公、AI+金融、AI+教育等各类落地场景。 根据Wind数据统计，港股通互联网ETF易方达（513040）、软件ETF易方达（562930）1月累计资金净 流入均超过10亿元，市场关注度较高，可助力投资者一键打包AI应用领域龙头公司。 中信证券研报称，节假日高频流量叠加运营侧强刺激，将持续验证AI应用的留存、活跃与商业化潜 力，相关方向关注度有望阶段性提升。 ...

Group 1 - The market showed signs of recovery on January 30, with the AI application sector's decline narrowing, as the CSI Software Service Index fell by 2.5% [1] - The software ETF E Fund (562930) has attracted significant market attention, with net inflows exceeding 150 million yuan over six consecutive trading days [1] - DeepSeek is set to release its next-generation flagship AI model, DeepSeek V4, in February, which is expected to have a substantial impact on the current AI competitive landscape [1] Group 2 - Bohai Securities believes that the iteration and upgrade of domestic large models like DeepSeek V4 will accelerate technological innovation and application, maintaining a positive outlook on the growth potential of the AI application sector driven by both technological advancements and demand release [1] - The E Fund software ETF tracks the CSI Software Service Index, which consists of 30 stocks involved in software development and services, covering various AI application scenarios such as AI + office, AI + finance, and AI + education [1] - The top ten weighted stocks in the index include iFlytek, Kingsoft Office, Tonghuashun, Guiding Compass, and Hengsheng Electronics, collectively accounting for over 60% of the index, providing investors with a convenient tool for investing in the AI application sector [1]

Group 1 - The software sector is experiencing a significant rebound, with the China Software Service Index rising by 0.5%, and notable stocks like Deepin Technology and Dameng Data increasing by over 4% [1] - The Agent industry is on the verge of a breakthrough, transitioning from simple chatbot functionalities to more complex task execution capabilities, marking a shift from "talking" to "doing" [1] - Products like Anthropic's Claude Cowork and domestic offerings such as MiniMax and Jietiao Xingchen are enhancing local PC-based terminal agents, indicating a progression from the initial development phase to a more advanced stage [1] Group 2 - The China Software Service Index comprises 30 stocks involved in software development and services, covering various AI applications across sectors like office, finance, and education [2] - The top ten weighted stocks in the index, including iFlytek and Kingsoft Office, account for over 60% of the index's total weight, providing a concentrated investment opportunity [2] - The E Fund Software ETF (562930) tracks this index, enabling investors to efficiently allocate resources within the AI application sector [2]

1月26日午后，AI产业链上下游题材集体回调，半导体设备、AI应用板块跌幅居前，截至14点15分，中 证软件服务指数下跌2.7%，相关ETF近期获资金关注，软件ETF易方达（562930）近10个交易日合计净 流入超10亿元。 腾讯近日发布通知，将在2月1日上线春节活动，用户上元宝App分10亿元现金红包，单个红包金额可达 万元。百度也发布通知称，自1月26日至3月12日，用户在百度APP使用文心助手，有机会瓜分5亿现金 红包，最高可获得1万元奖励，百度APP还将作为首席AI合作伙伴参与《2026北京广播电视台春节联欢 晚会》。 展望后市，中信证券研报指出，AI应用层面，模型能力提升叠加出海新机遇，AI应用拐点已至、价值 有望重估；AI应用正逐步从Chatbot、Coding、搜索、客服等场景走向广泛的多模态、Agent、具身智能 等场景；国内AI应用公司加速布局海外市场，抢占全球AI应用市场份额，海外业务带来全新商业价 值。 中证软件服务指数由30只业务涉及软件开发、软件服务等领域的股票组成，覆盖AI+办公、AI+金融、 AI+教育等各类落地场景，前十大权重股包括科大讯飞、金山办公、同花顺、指南针、恒生电子 ...

Core Viewpoint - The AI application sector is experiencing a correction, but there are signs of potential growth as AI business revenue for several A-share companies is expected to exceed 10% [1] Group 1: Market Performance - As of 14:40 on January 16, the CSI Software Service Index fell by 2.3%, while the software ETF E Fund (562930) saw a net inflow of nearly 1 billion yuan over the past five trading days [1] - Despite external factors affecting the market, the software index is at a relatively low position, indicating that a spring market rally may still be on the horizon [1] Group 2: AI Business Development - The penetration of AI applications has reached a turning point, with multiple A-share companies expected to see their AI business revenue share surpass 10% [1] - Overseas AI applications are accelerating in commercialization, suggesting a broader market opportunity [1] Group 3: Future Catalysts - There are multiple catalysts to look forward to, including the Deepseek V4 model, the Zhiyuan GLM-5 model, and ongoing activities from ByteDance and Alibaba during the Spring Festival [1] Group 4: Index Composition - The CSI Software Service Index consists of 30 stocks involved in software development and services, covering various AI application scenarios such as AI + office, AI + finance, and AI + education [1] - The top ten weighted stocks account for over 60% of the index, indicating concentrated investment opportunities [1]

Group 1 - The AI application sector, including software and media, opened significantly higher and continued its strong performance from the previous day, with the CSI Software Service Index rising by 2.4% [1] - Notable stock performances included a more than 9% increase in Youyuan Network and over 8% increases in Shenxinfu and Hehe Information, while the CSI Cloud Computing and Big Data Theme Index rose by 2.1% [1] - Huatai Securities indicated that AI applications are expected to emerge and accelerate commercialization, driven by advancements in large model capabilities and reduced inference costs, with a focus on AI in advertising and e-commerce [1] Group 2 - The CSI Software Service Index consists of 30 stocks involved in software development and services, with software development and IT services accounting for 70% and 26% of the index, respectively [1] - The CSI Cloud Computing and Big Data Theme Index focuses on both the upstream computing infrastructure and downstream software applications of the AI industry, with the top three sectors being software development, IT services, and computer equipment, collectively exceeding 75% of the index [1] - The E Fund Software ETF (562930) and E Fund Cloud Computing ETF (516510) track these indices, providing investors with opportunities in the AI application sector [1]

Core Insights - The market experienced a rebound in the afternoon, led by software and AI applications, with notable gains in stocks such as Shiji Information and 360, and Kingsoft Office rising over 5% [1] - The CSI Software Service Index increased by 3.3%, while the STAR Market 50 Index rose by 1.0% due to the performance of constituent stocks [1] - Alibaba's AI assistant, Qianwen App, achieved over 10 million downloads within a week of its public beta, surpassing competitors like ChatGPT and Sora, marking it as the fastest-growing AI application in history [1] - Future plans for Qianwen App include integrating various life scenarios such as maps, food delivery, ticket booking, office tasks, learning, shopping, and health services to enhance its functionality [1] - According to Industrial Securities, high-growth sectors for next year include AI industry trends, advantageous manufacturing, "anti-involution," and structural recovery in domestic demand, emphasizing opportunities in the tech growth sector [1] - The E Fund Software ETF (562930) tracks the CSI Software Service Index, which consists of 30 stocks involved in software development and services, with over 70% in the software development sector [1] - The STAR Market 50 ETF (588080) tracks the STAR Market 50 Index, comprising 50 securities with large market capitalization and good liquidity, covering sectors like semiconductors and software development, highlighting "hard tech" leaders [1]

Group 1 - The market experienced wide fluctuations with active hotspots, particularly in cloud office and AI applications, leading to significant gains, with Kingsoft Office reaching a new high during the day [1] - Kingsoft Office reported its Q3 2025 earnings, achieving a revenue of 1.521 billion yuan, a year-on-year increase of 25.33%, and a net profit attributable to shareholders of 431 million yuan, up 35.42% year-on-year [1] - The revenue from WPS personal business in Q3 was 899 million yuan, reflecting a year-on-year growth of 11.18%, driven by the promotion of new AI products and refined operations in domestic and international markets [1] Group 2 - The AI application-driven demand for computing power is experiencing sustained high growth, marking a turning point for the commercialization of AI applications both domestically and internationally [1] - Domestic computing power capacity bottlenecks are expected to be broken through, with projections indicating that domestic chip production will ramp up by 2026 [1] - Internationally, companies like OpenAI are accelerating commercialization, which is driving widespread implementation of AI applications and maintaining high demand for computing hardware [1] Group 3 - The Sci-Tech Innovation Board 50 ETF tracks the Sci-Tech Innovation Board 50 Index, which consists of 50 securities with large market capitalization and good liquidity, covering sectors such as semiconductors, medical devices, and software development [2] - The E Fund Software ETF tracks the China Securities Software Service Index, composed of 30 stocks involved in software development and services, with approximately 70% of the index representing the software development industry [2] - Investors looking to capitalize on the development of AI hardware and applications can conveniently invest through these products [2]

Group 1 - The A-share market saw a fluctuating rise in the three major indices, with the domestic software and software development sectors leading the technology direction [1] - As of 10:10 AM, the China Securities Software Service Index increased by 1.2%, with notable gains from companies such as Siwei Tuxin (over 5%), Electric Science Digital (over 4%), and Zhongke Software (nearly 4%) [1] - The second Bay Area Semiconductor Industry Ecosystem Expo commenced in Shenzhen, where a subsidiary of New Kai launched two domestically developed EDA design software products with complete independent intellectual property rights [1] Group 2 - The EDA design software reportedly achieved industry-leading performance in key electronic circuit design metrics, with a 30% improvement over industry benchmarks and a 40% reduction in hardware development cycles [1] - China Galaxy Securities believes that the domestic software localization is entering a deep-water zone, and with the new cycle of Xinchuang, related sectors will continue to benefit, particularly in EDA, industrial software, operating systems, databases, network security, and industry IT [1] - The China Securities Software Service Index consists of 30 stocks involved in software development and services, with software development and IT services accounting for 70% and 26% of the index, respectively [1]