阜博集团 20260112 摘要 国内 AI 技术快速发展，春节前后 Deepseek V4、千问 3.5 和豆包 2.0 等国产模型发布，增强了市场信心，多模态生成技术应用于动态漫画、 短剧等领域，富博集团致力于为全球市场提供服务，并积极推进商业化 进程。 去年四季度 Sora 2 推出及 Disney 与 OpenAI 合作，标志着影视行业重 大变革，传统版权方与新兴大模型方开始合作，版权管理和商业化模式 面临变革，富博集团提出"元素级管理"概念，实现资产指数级增长。 富博集团基于过去 20 年的保护、交易及变现能力，扩展至元素级管理 阶段，通过计量、定价及交易钢铁侠等电影元素实现利益分配，并利用 人脸识别和标注系统，与美国潜在合作伙伴沟通推动转型。 AI 漫剧发展符合大模型降低内容制作成本的趋势，增加对分发网络的需 求，富博集团通过提高技术能力，在音乐、特征声音及视频关键形象管 理方面释放更多潜力。 内容多平台扩散传播价值显著高于单一平台，元素授权使用和跟踪及变 现能力至关重要，版权监测和元素级管理能力是关键，内容传播和发行 渠道将发生重大变化。 Q&A 近年来，AI 在软件行业的收入占比逐渐提升，并有 ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **Artificial Intelligence (AI)** industry, particularly the developments in China and the United States, and the implications for various companies involved in AI applications and data management [1][4]. Core Insights and Arguments - **Performance Improvement**: Chinese AI models have significantly improved, with some now comparable to top U.S. models. The cost of system reasoning at GPT-3.5 level has decreased by over **280 times** in two years [1][2]. - **Data Utilization**: Although China's total data volume is **two-thirds** that of the U.S., only **1.6%** of it is usable for large model training, indicating substantial potential for growth in data utilization [4]. - **Investment in Data**: The strategic investment of **$14.3 billion** from Meta into Scale AI has raised its valuation to **$29 billion**, highlighting the critical importance of data quality in AI development [5]. - **AI Application Growth**: AI applications are entering a rapid growth phase, with a **50-fold** increase in Google's token processing volume expected by April 2025 [2][3]. - **Government Support**: The Chinese government is actively supporting AI development through policies aimed at enhancing data governance and promoting AI integration across various sectors [13][18]. Key Companies and Their Roles - **Data Companies**: Companies like **DeepSanda A** and **Haitian Ruisheng** are positioned to benefit from the emphasis on high-quality data sets [6][8]. - **Manufacturing and AI**: The integration of AI in manufacturing is focused on developing the "brain" of robots, with companies like **Nengke Technology** showing significant revenue growth in AI business [7][8]. - **AI Applications**: Various sectors are leveraging AI, including agriculture (Topological Cloud Agriculture), industrial software, and new energy (Guoneng Rixin) [10]. Additional Important Insights - **Comparative Advantages**: The U.S. focuses on upstream components like chips and cloud services, while China emphasizes downstream applications and data accumulation [4]. - **Future Catalysts**: Upcoming releases of major AI models like **GPT-5** and **Deepseek V4** are expected to drive significant changes in the AI landscape, impacting related companies in the A-share market [11][12]. - **Investment Strategies**: Investors are advised to focus on companies with strong event catalysts, high-quality data sets, and those that align with government policies promoting AI [19][20]. Conclusion The AI industry is poised for rapid growth, driven by advancements in model performance, government support, and the critical role of data. Companies that effectively leverage these trends are likely to see significant benefits in the evolving market landscape.