Core Insights - The article discusses the Shanghai Stock Exchange International Investor Conference held on November 12-13, focusing on the commercialization of AI in office software by Kingsoft Office [1][3]. Group 1: AI Commercialization Strategy - Kingsoft Office's Vice President Xu Liu emphasizes the challenge of balancing user experience and commercial value in AI monetization [3]. - The company aims to move beyond "single-point functionality charging" by leveraging over 600 million global monthly active devices to meet real user needs in office scenarios [3]. - The core differentiation strategy involves a "dual transformation" of software and AI to achieve deep collaboration [3]. Group 2: Technical Innovations - Kingsoft Office encapsulates thousands of complex functions in the Office system into standardized APIs, allowing AI to effectively utilize software capabilities [3]. - AI is trained to understand office operation logic, ensuring generated content is well-formatted and editable, addressing issues like the difficulty in modifying AI-generated PPTs [3]. - The "intelligent knowledge base" formed from over 260 billion WPS cloud documents is highlighted as a significant advantage, enabling AI to convert historical documents into searchable knowledge assets [3][4]. Group 3: Market Potential and Future Vision - Xu Liu asserts that full-process intelligent collaboration will unlock larger market opportunities, aligning with the view that AI should transition from single-point intelligence to full-process collaboration [3][4]. - The three-tier leap in AI capabilities involves understanding data, organization, and business, with the WPS 365 platform serving as a comprehensive data foundation [4]. - The ultimate goal is for AI to deeply integrate into enterprise operations, participating in decision-making and innovation, transforming WPS 365 into an intelligent business hub [4][5].

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [41]. Core Insights - The 2025 World Artificial Intelligence Conference (WAIC 2025) opened on July 26, focusing on AI applications, including embodied intelligence, intelligent agents, and AI glasses, which received significant attention [11][16]. - Unitree Technology launched its third humanoid robot, Unitree R1, which features 26 joints and is priced starting at 39,900 yuan, aimed at providing a development platform for AI developers and educational scenarios [17][20]. - The Q2 2025 fund holding report for the computer industry shows a slight increase in the fund holding ratio to 2.46%, with significant changes in the top ten heavy stocks compared to Q1 2025 [21]. Summary by Sections Company Dynamics - Nanjing Information plans to sign a three-year framework contract with its controlling shareholder for a total integrated procurement project, with an estimated total amount of 58.27 million yuan [3]. - New Beiyang's subsidiary won a bid for a cash machine procurement project for China Construction Bank, covering the period from 2025 to 2028 [3]. Investment Recommendations - Companies to watch in the AI application sector include iFlytek, Kingsoft Office, Hehe Information, Dingjie Smart, and Hengsheng Electronics [4]. - Companies in the humanoid robot supply chain to consider include Tuolisi, Hongsoft Technology, Zhongke Chuangda, Softcom Power, and Suochen Technology [4]. Industry News - The AI server market is projected to see a decrease in the share of purchased Nvidia/AMD chips from approximately 63% in 2024 to about 42% by 2025, with domestic chips expected to grow to 40% [25]. - The AI industry in China has surpassed 700 billion yuan, indicating a significant expansion in the digital economy [27][28].