WPS 365 AI 协同办公大会 20251125 WPS 365 AI 协同办公大会上有哪些亮点内容？ 在 WPS 365 AI 协同办公大会上，开场表演者和演讲内容创作者通过诗意的语 言和富有节奏感的表达，生动地描绘了现代职场生活的挑战与希望。他们强调， 通过使用 WPS AI 等工具，可以告别无效忙碌，实现高效协作。此外，大会还 展示了一些具体应用场景，如如何利用 AI 技术优化文档处理、提高团队沟通效 中集集团通过数据分析和智能化管理提高运营效率，在物流和供应链管 理中优化运输路线、预测需求变化，降低成本并提高服务水平；在生产 制造环节，AI 技术被用于设备维护和质量控制。 中集集团未来计划在物流与供应链管理、智能制造和客户服务领域深化 AI 技术应用，通过更先进的算法实现更精准的需求预测和资源配置，全 面推进数字化转型。 率等。 在会议组织过程中，技术支持团队如何确保活动顺利进行？ 摘要 金山办公通过与中集集团的合作，展示了协同办公在医药行业数字化转 型中的潜力，是其赋能各行各业的缩影，强调了 WPS AI 等工具在优化 文档处理和提高团队沟通效率方面的应用。 中集集团 2024 年财报显示其业务 ...

Core Insights - The article emphasizes that in the AI era, office software transcends being mere tools, evolving into "containers of knowledge," "carriers of digital employees," and "providers of capabilities and services" [1][5][12] AI Integration in Office Software - Since the release of ChatGPT in late 2022 and the rise of DeepSeek in early 2025, AI has been systematically integrated into work and life, with collaborative office software being a key area of penetration [2] - Current large language models have shown significant advantages in content creation and task processing, impacting at least 10% of work tasks for 80% of the U.S. workforce, particularly affecting high-education and knowledge-intensive professions [3] Challenges in AI Adoption - Despite advancements, the penetration of large models in online office settings remains limited due to the complexity of office scenarios and barriers to private knowledge [4] - The difficulty in acquiring private knowledge is a major pain point, as existing barriers include format isolation, platform ecosystems, and the challenge of utilizing unstructured data effectively [4] WPS 365 Upgrade - On November 25, the company announced the upgrade of WPS 365 to a global one-stop AI collaborative office platform, introducing new products like WPS Lingxi Enterprise Edition and the "Qingzhou" engine [5] - The updated WPS 365 focuses on addressing challenges in AI office tasks, integrating various communication and document management tools to maximize organizational efficiency [7] Cost Efficiency - The WPS 365 platform offers a cost-effective solution, integrating functionalities of multiple tools like Microsoft Office, Zoom, and Adobe PDF, at one-third of the industry average cost [7] Future of AI in Office Work - The vision for WPS 365 is to help organizations build unique "enterprise brains," with knowledge as the core driving force for AI engines [5][12] - The integration of vast amounts of unstructured data into large models is seen as crucial for enhancing AI capabilities, enabling better decision-making and coding assistance [8] Digital Employee Development - The company is advancing its digital employee capabilities, aiming to create efficient assistants for tasks like code review by inputting governance standards into large models [11] - This shift signifies a transformation in human-machine relationships, where digital employees will participate in the entire digital operation process, fostering a positive feedback loop for knowledge creation [11] Market Demand and Security - The demand for AI solutions is growing among large enterprises, with 90% of the 133 Chinese companies listed in the Fortune Global 500 using WPS 365 for efficiency improvements [12] - The platform supports various deployment options, including private, public, and hybrid clouds, addressing high data security and sovereignty requirements [15] Customizable AI Solutions - WPS 365 aims to be a customizable, integrative, and scalable AI productivity platform, catering to both large enterprises and small businesses with tailored office solutions [15] - The future vision includes AI becoming an integral part of every online office process, fundamentally reshaping work dynamics and freeing employees from repetitive tasks [16]

当前，AI 应用的落地呈现出明显的 场景分化特征 。一方面，某些领域已经实现了显著的生产力提升和商业价值兑现；另一方面，仍有许多场景处于探索 验证阶段。本研究聚焦于 最先适配且生产力提升最明显的 AI 应用方向 ，通过对智能编码与开发、客服与工单自动化、办公与内容生成、智能制造、AI 算力配套、金融风控与反欺诈以及游戏行业七大核心领域的深入分析，为企业和投资者提供可操作的决策参考。 研究目标包括：梳理各领域的技术成熟度和应用现状；量化分析生产力提升的具体数据；识别关键成功因素和实施路径；为不同行业和规模的企业提供 AI 应用优先级建议。 二、AI 应用最先适配的核心方向分析 备注：本文是在豆包 AI 辅助下总结输出，主要目的是对当下的 AI 发展和应用有个框架性的了解，其内 容的真实性请读者自行甄别。 一、研究背景与目标 2025 年被业界定义为 "AI 智能体元年"，标志着 AI 技术从实验室走向大规模商业化应用的关键转折点。在政策支持、技术突破和市场需求的三重驱动 下，AI 应用正在重塑各行业的生产力格局。根据最新数据，2025 年中国企业 AI 投资回报率预计达到 18%，未来两年将接近翻倍，达到 34 ...

Financial Data and Key Metrics Changes - In Q3 2025, Kingsoft's total revenue reached RMB 2.419 billion, representing a year-on-year decrease of 17% and a quarter-on-quarter increase of 5% [5][13] - Revenue from the office software and services business increased by 26% year-on-year and 12% quarter-on-quarter to RMB 1.521 billion [13] - Revenue from online games and other businesses decreased by 47% year-on-year and 6% quarter-on-quarter to RMB 898 million [14] - Gross profit decreased by 21% year-on-year but increased by 5% quarter-on-quarter to RMB 1.944 billion, with a gross profit margin of 8% [15] - Profit attributable to owners of the parent was RMB 213 million, down from RMB 413 million year-on-year [17] Business Line Data and Key Metrics Changes - WPS individual business revenue reached RMB 899 million, up 11% year-on-year, with global monthly active devices reaching 669 million, a 9% increase [7] - WPS 365 business revenue reached RMB 201 million, a significant increase of 17% year-on-year [8] - Revenue for the WPS software business was RMB 391 million, up 15% year-on-year, driven by localization projects and AI-enabled products [9] - Online game revenue decreased primarily due to low contributions from certain existing games, despite new game launches [14] Market Data and Key Metrics Changes - The company reported a strong cash position with cash resources of RMB 26 billion as of September 30, 2025 [18] - Net cash generated from operating activities was RMB 494 million for the quarter [19] Company Strategy and Development Direction - Kingsoft continues to prioritize AI collaboration and internationalization as strategic priorities, focusing on enhancing core product offerings [4][11] - The online games business aims to develop high-quality content and expand global publishing, while also optimizing gameplay for existing titles [10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of growth in the office software segment, driven by increased enterprise memberships and AI product enhancements [26] - The company is optimistic about the overseas market opportunities for WPS Office and 365, particularly in competing with Microsoft [32][34] Other Important Information - Research and development costs increased by 4% year-on-year, reflecting higher investment in AI and collaboration products [15] - Selling and distribution expenses rose by 55% year-on-year, primarily due to higher promotional expenditures related to online games [15] Q&A Session Summary Question: Regarding the gaming business, could management elaborate on operational strategies and the update progress of Metal Brick? - Management indicated that they are focusing on long-term upgrades and new content for existing games, while the new game Metal Brick is still in the operational improvement phase [22][23] Question: What are the main drivers behind the accelerated growth in the office business, and will this momentum be sustainable? - Management highlighted three growth factors: personnel growth, AI enhancements, and positive user feedback, expressing confidence in sustaining this growth [24][25][26] Question: How does the company view opportunities for WPS Office and 365 in international markets? - Management noted that they have increased overseas R&D investment and are confident in competing with Microsoft, leveraging their mobile platform advantages [32][34] Question: What is the progress of the AI business and its commercialization pace? - Management stated that the AI business is in an early stage, with ongoing development across various industries, and plans to establish an AI product center [41][43] Question: Will sales and marketing expenses return to normal in the upcoming quarters? - Management expects that as the business stabilizes, marketing expenses will normalize, while emphasizing the need for initial high investments in R&D and AI [44][45]

Group 1 - The core viewpoint of the report indicates that the AI industry is transitioning from "tool innovation" to "ecosystem integration," with an expected surge in AI application performance due to industry inflection points [2][6] - The launch of Alibaba's "Qianwen" app marks a significant step towards the "ecosystem" phase of AI applications, aiming to create a comprehensive personal AI assistant that integrates various life services [3][6] - The report highlights that AI application companies are beginning to show signs of performance inflection, with vertical applications validating business models and revealing profit potential [2][6] Group 2 - The report notes that since 2025, the AI industry chain has experienced a rotation in market performance, with AI applications showing limited growth compared to other segments, suggesting a high cost-performance ratio for investments in AI applications [2][6] - The report cites that as of September 2025, the number of monthly active users for AI applications in China has surpassed 729 million, indicating a significant increase in user engagement [5] - The performance reversal of AI applications is attributed to the accelerated penetration rate and the initial success of vertical application commercialization, with notable profit growth in companies like 360 and Kingsoft [4][5]

Market Overview - The A-share market experienced a collective decline, with all three major indices recording a three-day losing streak. The Shanghai Composite Index fell by 0.81% to 3939 points, the Shenzhen Component Index dropped by 0.92%, and the ChiNext Index decreased by 1.16%. The North Star 50 Index saw a decline of 2.92%. The total market turnover was 1.95 trillion yuan, an increase of 15.6 billion yuan compared to the previous trading day, with over 4100 stocks declining [1]. Software Sector Performance - Software stocks showed resilience, with notable gains in companies such as Shiji Information, which hit the daily limit, and Weining Health and 360 Security, both rising over 3%. This performance positively impacted various software ETFs, including the Software ETF Index and several others focused on software leaders [1]. AI Developments - Alibaba announced its "Qianwen" project aimed at entering the AI to C market, offering a free personal AI assistant that can interact with users and assist in various tasks. The app is now available for public testing [2]. - Baidu unveiled its new model, Wenxin 5.0, at the 2025 Baidu World Conference, featuring a total parameter count of 2.4 trillion and designed for multi-modal understanding and generation [2]. - OpenAI released the GPT-5 series, including GPT-5.1 Instant and GPT-5.1 Thinking, focusing on enhancing model intelligence and communication capabilities [3]. - World Lab launched its 3D world generation model, Marble, which allows users to create editable 3D scenes from various input types [3]. Financial Performance of Software Companies - The third-quarter reports for computer companies showed strong performance, with firms like Kingsoft Office, Hikvision, and 360 Security reporting significant year-on-year revenue and net profit growth compared to the second quarter. Kingsoft Office, for instance, exceeded expectations in revenue and profit, driven by AI product launches and overseas market expansion [4]. - Huaxi Securities noted an overall recovery trend in the software sector during the third quarter, with policies expected to continue supporting the industry's revival. The emphasis on self-control and AI in the 14th Five-Year Plan is seen as a key growth driver [4]. - According to招商证券, domestic software companies are experiencing a bottoming out and recovery in fundamentals, with low institutional holdings and expectations, suggesting that the development of AI applications will accelerate with the iteration of large models [5].

Summary of Key Points from the Equity Research Report on China Software Sector Industry Overview - The report focuses on the China software industry, particularly highlighting the performance of 18 covered software companies in the third quarter of 2025 (3Q25) [3][11]. - There is a noted recovery in earnings, with total net profit rising by 92% year-on-year (y-o-y) for the covered companies [10][11]. Core Insights - **Earnings Recovery**: The significant recovery in earnings is attributed to limited downside from tighter IT budgets, as the base is low, and ongoing cost control measures are expected to continue driving earnings recovery [3][4]. - **Market Dynamics**: The competitive landscape is improving, with smaller players exiting the market, which may benefit larger firms [3]. - **Revenue Drivers**: AI and localization are identified as key revenue drivers, with specific companies like Yonyou and Kingdee expected to benefit from AI monetization [4][9]. Company-Specific Highlights - **Sangfor**: - Rated "Buy" with a target price of RMB 144.00, implying an 18% upside. The company is expected to benefit from improved demand for HCI and software-defined storage amid AI adoption [24]. - **Yonyou**: - Rated "Buy" with a target price of RMB 21.00, indicating a 43% upside. The company is projected to grow at a CAGR of 12% from 2025 to 2027 [24]. - **Kingdee**: - Rated "Buy" with a target price of HKD 18.20, suggesting a 24% upside. Expected revenue growth at a CAGR of 12.5% over 2024-2027 [24]. - **Kingsoft Office**: - Rated "Buy" with a target price of RMB 353.00, indicating a 7% upside. The company is well-positioned in software localization and AI function optimization [24]. - **ThunderSoft**: - Rated "Buy" with a target price of RMB 82.00, suggesting a 25% upside. The company is expected to see robust demand for on-device AI [24]. Investor Sentiment - Investors are showing strong interest in AI applications and their monetization potential, particularly in ERP systems [4][9]. - There is a focus on high-quality AI A-share software names seeking H-share listings, such as Yonyou and Intsig, due to their valuation discounts [4]. Risks and Challenges - **Sector Risks**: Potential risks include a weak macroeconomic environment leading to tighter IT budgets, intense competition, and policy support falling short of expectations [6][24]. - **Valuation Concerns**: Some investors express concerns regarding high valuations, particularly for companies like Kingsoft Office, although others believe the valuations are reasonable given the earnings visibility [5]. Conclusion - The China software sector is experiencing a notable recovery, driven by AI and localization trends. Key players are positioned to benefit from these trends, although risks related to macroeconomic conditions and competition remain pertinent. Investors are advised to consider these dynamics when evaluating opportunities in the sector.

2023年6月20日，金山办公股价创下历史最高点530.50元。 长城证券（002939）股份有限公司研究员侯宾于2023年6月21日发布的研报《金山办公(688111)：AI+办 公商业模式逐步成型WPS AI产品力升级》表示，维持金山办公"买入"评级。 中国经济网北京11月14日讯金山办公(688111.SH)今日股价下跌，截至收盘报311.00元，跌幅3.30%。 ...

Group 1: Market Overview - The market is experiencing fluctuations after the Shanghai Composite Index approached 4000 points, with the software sector showing strong performance, particularly in AI corpus, software development, and Hongmeng concepts [1] - The software industry is expected to enter a growth phase, supported by policies promoting domestic software autonomy and AI-driven application prosperity [1] Group 2: Company Performance - Leading software company Kingsoft Office reported a revenue of 1.521 billion yuan in Q3, a year-on-year increase of 25.33%, and a net profit of 431 million yuan, up 35.42% year-on-year, driven by AI product launches and refined market operations [1] - Cybersecurity leader 360 achieved a revenue of 6.068 billion yuan in the first three quarters, an increase of 8.18%, while reducing net losses to 122 million yuan from 579 million yuan last year, marking a reduction of approximately 78.93% [2] Group 3: Policy Support - The 14th Five-Year Plan emphasizes strengthening original innovation and tackling key core technologies, promoting breakthroughs in critical areas such as basic software and integrated circuits, which aligns with the trend of domestic software and hardware localization [3] - The push for software autonomy is expected to increase the importance of domestic software in the context of national technological competition [3] Group 4: AI Innovations - Since 2025, global model innovations have entered a phase of orderly and high-quality development, with improvements in model capabilities and reductions in costs, facilitating rapid application development [4] - The DeepSeek team has introduced innovations in hardware architecture and model design, contributing to cost-effective large-scale training and inference [4] Group 5: Investment Opportunities - The E Fund Software ETF (562930) focuses on core sectors within the software industry, tracking the CSI Software Service Index, which includes leading companies like iFlytek, Kingsoft Office, and 360 [5]

Group 1 - The AI application sector continues to rise, with companies like 37 Interactive Entertainment and Huayi Brothers showing significant gains, indicating strong market interest in AI applications [1] - 37 Interactive Entertainment reported Q3 revenue of 3.975 billion yuan and a net profit of 944 million yuan, marking a year-on-year growth of 49.24%, driven by the development of its self-researched AI model "Xiao Qi" [1] - Kingsoft Office's Q3 revenue grew by 25% year-on-year, exceeding market expectations, attributed to an increase in active users and the paid rate of WPS AI features [1] Group 2 - The Game ETF (159869) rose by 2.73%, attracting over 2.9 billion yuan in capital over the past 20 days, with major holdings including 37 Interactive Entertainment and other leading gaming companies [2] - The Hang Seng Internet ETF (513330) saw a slight decline of 0.53%, with a high AI content of 97% in its constituent stocks, which include major players like Alibaba and Tencent [2]