Core Viewpoint - The release of the GLM-4.7 model by the company has led to a surge in users for its programming subscription service, prompting the company to limit sales to prioritize existing users' experience [1] Group 1: User Growth and Market Impact - The company has reduced the daily sales volume of its "GLM Coding Plan" service to 20% starting January 23 to ensure a better experience for current users [1] - The core user base for this service is primarily in the United States, indicating that Chinese AI models are not only catching up in technical quality but also gaining market share from American developers [1] Group 2: Global Influence and Product Development - The company is enhancing its global influence through an open-source strategy, with its GLM-4.7 model ranking first in global programming capabilities [1] - The recent launch of the GLM-Image model, trained entirely on Huawei chips, further demonstrates the company's commitment to integrating with domestic hardware [1] - Currently, seven out of the top ten positions in the global open-source model rankings are held by Chinese companies, showcasing the rapid construction of China's influence on the international stage through open-source ecosystems [1]

Core Insights - The release of the flagship model GLM-4.7 has led to a surge in users for the programming subscription service, prompting the company to implement sales limits to prioritize existing users' access [1] - The core user base for the service is primarily in the United States, indicating that Chinese AI models are not only catching up in technical quality but also capturing significant market share from American developers [1] - The company is enhancing its global influence through an open-source strategy, with the GLM-4.7 model ranking first globally in programming capabilities [1] Market Position - The company has reduced the daily sales volume of its "GLM Coding Plan" service to 20% of its current capacity starting January 23, to ensure a better experience for existing users [1] - The focus of Chinese AI models is on integration into industries at affordable prices, aiming to produce high-tech products for the global market [1] - The recent launch of the GLM-Image model, trained entirely on Huawei chips, further demonstrates the company's commitment to leveraging domestic hardware in its AI developments [1] Competitive Landscape - Currently, seven out of the top ten positions in the global open-source model rankings are held by Chinese companies, showcasing the rapid construction of influence by Chinese AI on the international stage [1] - The integration of open-source ecosystems with domestic hardware is a key strategy for Chinese AI to enhance its competitiveness globally [1]

Group 1 - Runway has launched the new Gen 4.5 model, significantly improving lens control and storytelling capabilities, generating three shots (close-up, medium, and long) within 5 seconds [1] - In a test with 1,000 participants, only 57% could distinguish between AI-generated videos and real videos, with the model achieving near cinematic quality in facial consistency, lighting logic, and physical laws [1] - The video generation model is entering a new upgrade phase, with trends towards realism, audio-visual synchronization, refined local control, and longer generation times [1] Group 2 - Google has partnered with The Princeton Review to integrate a full set of SAT practice tests into Gemini, allowing users to take free full-length mock exams with immediate scoring and detailed error analysis [2] - The tests cover reading, writing, and math modules, supporting customizable countdowns and hints, with Gemini breaking down problem-solving steps for better understanding [2] - SAT is just the beginning, as Google plans to expand Gemini to more standardized tests, positioning AI as an expert assistant across various industries [2] Group 3 - Zhizhu's GLM-4.7 has seen rapid user growth leading to computational strain, causing some users to experience throttling and slower model speeds during peak times [3] - Starting January 23, the GLM Coding Plan will be sold in limited quantities, reducing daily sales to 20% to prioritize the programming experience for existing users [3] - Zhizhu is developing more powerful and efficient models while accelerating computational capacity expansion, with automatic renewals unaffected and the end date for the limited sale to be announced later [3] Group 4 - Baichuan has released the medical model M3 Plus, achieving a hallucination rate of 2.6%, the lowest globally, introducing "evidence anchoring" technology to precisely link each medical conclusion to corresponding sections of original papers [4] - M3 Plus topped authoritative evaluations like Healthbench, surpassing GPT-5.2, with API call prices reduced by 70% compared to the previous generation [4] - Baichuan has launched the "Haina Baichuan" initiative, offering free access to the M3 Plus API for Chinese medical service institutions to promote the development of the AI medical ecosystem [4] Group 5 - Apple is secretly developing an AI device resembling AirTag, equipped with dual cameras and three microphones, similar to Ai Pin, with plans to produce 20 million units, potentially launching in 2027 [5] - Apple plans to introduce a new Siri, codenamed "Campos," deeply integrated with iOS 27, supporting web searches, email writing, image generation, and screen awareness capabilities akin to ChatGPT [5] - The new Siri's foundational model will be based on Google Gemini 3, with Apple paying approximately $1 billion annually to Google and possibly switching to TPU server hosting [5] Group 6 - Remotion is an open-source library that allows users to programmatically create videos using React code, with specific skills available for installation in development tools like Cursor and Claude Code [6] - Users only need to provide text and rhythm requirements, and AI can automatically generate animated video effects, suitable for product demonstrations and promotional videos, with a web editor for detail modifications [6] - This tool is designed for independent developers to create promotional videos, facilitating a shift towards "video editing approaching programming" and supporting iterative adjustments with AI [6] Group 7 - AAAI 2026 announced five outstanding papers, three of which were led by Chinese teams from various universities [7] - The awarded papers cover cutting-edge topics such as robotic visual language action models, multimodal representation learning, and causal discovery in dynamic systems [7] - AAAI 2026 received 23,680 submissions, with 4,167 accepted, resulting in an acceptance rate of 17.6%, with the conference scheduled for January 20-27 in Singapore [7] Group 8 - a16z reviewed the consumer AI landscape, indicating that the general LLM assistant market is trending towards a "winner-takes-all" scenario, with ChatGPT's weekly active users reaching 800-900 million, and only 9% of users willing to pay for multiple AI products [8] - By 2025, image and video generation models are expected to make significant advancements in realism and reasoning capabilities, with Veo 3's audio-video integration and Nano Banana Pro's search integration being key breakthroughs [8] - Leading labs have excelled in model development, but new consumer products have not achieved ideal results, indicating substantial growth opportunities for startups in niche application scenarios in 2026 [8] Group 9 - Anthropic has released the 84-page "Claude Constitution" under the CC0 license, a value declaration directly aimed at AI models, defining Claude's identity and operational principles [9] - The constitution establishes a four-tier value priority: broad safety > broad ethics > adherence to guidelines > genuine helpfulness, emphasizing "modifiability" as the most critical safety feature at this stage [9] - The document outlines strict boundaries, including prohibitions against assisting in the creation of weapons of mass destruction and generating CSAM, while encouraging Claude to develop a stable and positive self-identity [9]

Investment Rating - The report maintains a "Neutral" rating for the computer industry and an "Accumulate" rating for Hongsoft Technology (688088) [2][29] Core Insights - The Ministry of Industry and Information Technology (MIIT) is accelerating breakthroughs in key technologies such as training chips and heterogeneous computing power, which is expected to further speed up the development of the domestic computing power industry [13][28] - The AI application ecosystem is deepening, with significant developments such as the integration of Alibaba's Qianwen App into its ecosystem, enabling AI shopping functionalities [14][28] - The report highlights the growth potential of AI applications driven by rapid technological implementation and the release of market demand, suggesting a focus on leading companies with strong AI technology capabilities and scene adaptability [28][29] Industry News - MIIT has announced a special action plan for "Artificial Intelligence + Manufacturing," aiming to promote high-quality development in the AI industry [13] - The GLM Coding Plan by Zhiyuan has announced a temporary sales limit due to a surge in user numbers, indicating a tight supply of computing resources [14] - Alibaba's Qianwen App has integrated with various services, achieving over 100 million monthly active users within two months [14][15] Company Announcements - Hikvision reported a total revenue of 92.518 billion yuan for 2025, with a net profit of 14.188 billion yuan, reflecting a year-on-year growth of 18.46% [17] - Tonghuashun expects a net profit of 2.735 billion to 3.282 billion yuan for 2025, representing a growth of 50% to 80% [18] - Longxin Technology anticipates a net profit of 100 million to 150 million yuan for 2025, with a significant increase due to improvements in its energy digitalization business [20] Market Review - From January 15 to January 21, the CSI 300 index fell by 0.40%, while the Shenwan Computer Industry index dropped by 7.27%, with most sub-sectors experiencing declines [21] - The valuation of the Shenwan Computer Industry as of January 21, 2026, was 223.77 times earnings, with a premium of 1550.55% relative to the CSI 300 [22] Weekly Strategy - The report emphasizes the ongoing high demand for computing power and the expected acceleration in the domestic cloud computing capital expenditure, driven by easing supply constraints [28] - The anticipated launch of the DeepSeek V4 model during the Lunar New Year is expected to drive a new round of technological iteration in domestic large models [28] - The report suggests a focus on leading companies in the AI application sector that demonstrate strong capabilities in technology implementation and scene adaptability [29]

Group 1: Technology Developments - DeepSeek has updated its GitHub repository, revealing a new model architecture "MODEL1," which is expected to be more efficient and suitable for edge devices compared to its predecessor DeepSeek-V3.2 [2] - Longji Technology announced significant progress in Co-packaged Optics (CPO) technology, with successful customer sample deliveries and testing, addressing the growing demand for high-bandwidth, low-latency optical interconnects [11] - Shanghai Yiyou Intelligent Control Technology has launched its first automated production line for robot joints in Zhangjiang, aiming to meet the increasing demand and reduce costs for humanoid robots [10] Group 2: Financial Performance and Projections - Moole Technology expects a net loss of 950 million to 1.06 billion yuan for 2025, despite launching a leading GPU product and experiencing revenue growth due to the AI industry's expansion [17] - Demingli anticipates a net profit of 650 million to 800 million yuan for 2025, representing a year-on-year increase of 85.42% to 128.21%, driven by advancements in storage solutions and AI demand [18] - Tianfu Communication projects a net profit of 1.881 billion to 2.150 billion yuan for 2025, reflecting a growth of 40% to 60% due to the accelerating AI industry and global data center construction [19] Group 3: Regulatory and Market Responses - The European Union plans to phase out "high-risk suppliers" in critical sectors, interpreted as targeting Chinese tech firms like Huawei, which has expressed concerns over the fairness of such regulations [2] - Pinduoduo was fined 100,000 yuan for failing to report tax information as required, highlighting regulatory scrutiny on internet platform companies [4] - Zhiyu Technology announced a temporary limit on the sale of its GLM Coding Plan due to high demand and resource constraints, reducing daily sales to 20% of current levels [3]

Group 1 - The Ministry of Industry and Information Technology (MIIT) has announced the establishment of a safety monitoring platform for the operation status of new energy vehicles, effective from January 1, 2027 [4] - Xibei Catering Group has completed a new round of financing, with investors including Taizhou Xinrongtai Investment and former Ant Group CEO Hu Xiaoming, although the specific amount remains undisclosed [4][5] - The financing has increased Xibei's registered capital from 89.90 million yuan to 101.68 million yuan, marking a 13.1% increase [5] Group 2 - The price of gold jewelry in China is approaching 1500 yuan per gram, with brands like Chow Tai Fook and Lao Feng Xiang reporting significant price increases [7] - OpenAI has announced plans to expand its AI infrastructure in the U.S. to 10 gigawatts by 2029, committing to cover energy costs to prevent price hikes [12] - Nvidia's CEO Jensen Huang emphasized the rising demand for skilled tradespeople in the AI era, predicting that plumbers and electricians could earn six-figure salaries due to the infrastructure needs of AI [10] Group 3 - Apple plans to upgrade Siri into a chatbot by the second half of 2026, utilizing Google's Gemini model [10] - DeepSeek has revealed a new model, MODEL1, which is designed for efficient inference and optimized for edge devices [9] - The VCSEL chip provider Raysees Technology has completed a multi-hundred million yuan Series C financing round [20]

Key Points - The European Union plans to implement a ban on "high-risk suppliers," which Huawei has criticized as violating fair principles based on nationality [4][5] - DeepSeek has unveiled a new model called "Model 1," which is expected to be more efficient and suitable for edge devices [10][11] - Yu Minhong has launched a "retirement club" targeting individuals aged 50 to 75, offering low-cost experience classes [7][8] - iQIYI's CFO Wang Jun has resigned, with Senior Vice President Zeng Ying taking over as acting CFO [16][17] - Tesla's CEO Elon Musk has restarted the Dojo3 chip project, aiming for advancements in space AI [37][38] - Nvidia's CEO Jensen Huang expressed regret over selling Nvidia stock to buy a car for his parents, calling it the most expensive car in the world [39] - Vivo has maintained a leading position in the Indian smartphone market with a 23% share, significantly ahead of competitors [40][41]

Group 1 - Inner Mongolia Xibei Catering Group has increased its registered capital from approximately 89.9 million RMB to about 102 million RMB, marking an increase of approximately 13% [2] - The company was established in October 2017 and is involved in various sectors including catering services, food production, and investment activities [2] Group 2 - Yonghui Supermarket has applied for multiple "Fat Little Hui" trademarks, covering categories such as tobacco, food, and beverages, with the status of these trademarks currently being in application [3] - In November 2024, Yonghui also registered several "Fat Yonghui" trademarks, which have been successfully registered [3] Group 3 - De Beers, the world's largest diamond producer, has announced a price reduction of 25% for diamonds due to declining demand and the rise of synthetic diamonds, marking a significant shift in the diamond market [4] - The company previously held a 90% market share in diamond supply and still controls 60% of the rough diamond trade [4] Group 4 - Beijing's GDP has surpassed 5 trillion RMB, reaching 52,073.4 billion RMB in 2025, with a year-on-year growth of 5.4%, making it the second city in China to achieve this milestone after Shanghai [6] Group 5 - Ford is recalling over 119,000 vehicles in the U.S. due to a fire risk associated with engine block heaters, which may crack and leak coolant, posing a fire hazard [6] - The recall involves specific models and owners are advised to contact dealers for free inspections [6] Group 6 - Burberry reported a 3% increase in same-store sales for the third quarter of the 2026 fiscal year, with notable growth in the Greater China region, which accelerated to 6% [19] - The Asia-Pacific region also saw a growth rate of 5%, with strong performance in the South Korean market, which grew by 13% [19] Group 7 - Netflix announced plans to increase its film production spending by 10% in 2026, while also pursuing the acquisition of Warner Bros' studio and streaming business [20] - In the fourth quarter, Netflix reported revenues of $12.05 billion, exceeding expectations, and a free cash flow of $1.87 billion [20]

Group 1 - Taobao and Tmall will launch a special governance initiative for AI-generated fake images in after-sales service, introducing a recognition model and a one-click feedback feature [2] - The initiative will also create a one-stop AI service center, upgrading tools such as Xiaomimi 5.0 and AI after-sales assistants, integrating user consumption behavior and preferences into various service stages [2] Group 2 - The Hugging Face community reported that the download count for Alibaba's Qianwen series models has surpassed 1 billion, with an average of 1.1 million downloads per day, making it the first open-source large model to achieve this milestone [2] - The Qianwen series has over 200,000 derivative models, solidifying its position as the leading open-source large model globally [2] Group 3 - Zhipu announced a temporary limit on the sale of its GLM Coding Plan due to a surge in user numbers and resource constraints, reducing the daily sales volume to 20% of the current level [3] - This limitation aims to alleviate issues such as throttling and slow model speeds experienced by users during peak hours [3] Group 4 - Shandong Port unveiled the first AI chip for ports in the country, named "ShanGang ZhiXin·XingYu SA5200," which features advantages such as multi-source perception integration and enhanced compression efficiency [4] - The chip is designed to operate efficiently in complex port environments and supports domestic algorithms, significantly improving overall energy efficiency [4]

Real Estate Development - The Ministry of Housing and Urban-Rural Development emphasizes the importance of accelerating transformation and upgrading for high-quality real estate development, focusing on two main areas: orderly promotion of "good housing" construction and the establishment of a new model for real estate development [2] - The construction of "good housing" involves collaboration among government, enterprises, and society, with a comprehensive deployment to enhance housing quality through standards, design, materials, construction, and operation [2] - The new model for real estate development aims to ensure a smooth transition from old to new models, focusing on a mechanism that links people, housing, land, and finance [2] Real Estate Financing and Sales - The project company system will be implemented to ensure independent legal rights and responsibilities, prohibiting headquarters from misappropriating project funds before delivery [3] - A lead bank system will be introduced for real estate financing, where one bank or syndicate will be responsible for managing project funds [3] - The promotion of a "current housing sales" system aims to mitigate delivery risks, while pre-sale funds will be regulated to protect buyers' rights [3] Market Trends - The AI technology market is expected to grow significantly, with new personal AI devices emerging and the overall market scale likely to expand further between 2026 and 2027 [3] - The integration of energy and computing networks is crucial for enhancing global competitiveness, as highlighted by industry leaders [4] Mergers and Acquisitions - Energy Fuels has agreed to acquire Australian Strategic Materials for AUD 447 million (approximately USD 300.9 million), marking a significant move to secure the supply chain for rare earth elements [7] Policy Developments - The Ministry of Finance announced the establishment of duty-free shops at 41 ports, allowing residents from Macau to purchase duty-free goods [8] - New tax policies for innovative enterprises' CDRs will be implemented from January 1, 2026, to December 31, 2027, including exemptions on capital gains tax for individual investors [9] Financial Sector Updates - The People's Bank of China is focusing on modernizing the payment system and enhancing cross-border payment capabilities [10] - The National Financial Regulatory Administration has released new regulations to improve the administrative licensing process, enhancing the efficiency of market access [10] Industrial and Technological Development - The Ministry of Industry and Information Technology is promoting humanoid robot technology and aims to strengthen the ecosystem for humanoid robots [11] - A notification has been issued to automate the monitoring of computing power resources across 31 provinces by the end of 2026 [12] Economic Performance - Beijing's GDP reached CNY 5.20734 trillion in 2025, growing by 5.4% year-on-year, with the tertiary sector showing the highest growth at 5.8% [18]