Today, the AI application sector in the A-share market experienced a collective surge, with stocks like Zhi De Mai and Zhuo Yi Xin Xi hitting the daily limit-up, while Yi Dian Tian Xia, Zhong Wen Zai Xian, and Tian Long Ji Tuan formed a new trio dubbed "Yi-Zhong-Tian".
Recently, institutions have generally expressed optimism towards the GEO concept. For instance, a research report from Huaxin Securities on January 11 pointed out that with Zhipu and MiniMax successively listing on the Hong Kong stock market in January 2026, the digital marketing GEO is expected to capture the AI dividend on the media application end. The dual drivers of AI applications and domestic demand remain promising. After large language models go public, they face commercialization challenges, and scenarios from digital marketing to e-commerce, and further to content and experience economies, are all favorable arenas for AI commercialization.
The underlying reason is that AI search is gradually altering user decision-making pathways. Guosheng Securities believes that when consumers become accustomed to asking AI assistants like Doubao, DeepSeek, and Yuanbao, a brand's AI visibility directly determines the likelihood of commercial opportunities. According to the renowned US consulting firm Gartner, by 2028, traffic to brands from search engines will decrease by 50%, as consumers increasingly adopt AI-driven generative search.
This structural shift has given rise to GEO as a全新的 track. GEO stands for "Generative Engine Optimization," a strategic framework involving multi-dimensional optimization of content structure, data tagging, brand authority, and conversational experience, specifically tailored for the content distribution and recommendation mechanisms of generative AI. Its core objective is to ensure that brands, products, or services are prioritized for mention, citation, or recommendation within AI-generated content, thereby enhancing their visibility and authority in AI search results.
Currently, the user base for AI applications continues to expand. According to last month's statistics from QuestMobile, in the native AI market, Doubao leads with a steady 155 million weekly active users, followed by DeepSeek with over 80 million and Yuanbao with over 20 million users securing the second and third spots respectively. Alibaba's "Qianwen," launched at the end of the year, has rapidly climbed into the second tier, with its weekly active users approaching 10 million.
Against this backdrop, AI applications are experiencing a resonance between user volume and revenue generation, gradually establishing their position as traffic hubs. Guojin Securities posits that, functionally, large models have evolved far beyond their initial role as mere chat assistants from years ago. Diverse development tools now enable businesses and individuals to deeply integrate large models into their workflows, with the Agent paradigm already taking shape.
From an investment perspective, the investment logic within the AI industry chain is shifting from a "computing power race" towards "application value." China Galaxy Securities notes that concerns about an AI "bubble" fundamentally stem not from the production side, but from the demand side, and currently, generative AI possesses significant room for improvement. A clear generative AI gap is evident at the industry level, showing pronounced signs of structural disruption in the technology and media sectors, indicating substantial room for transformation and enhancement remains.
Beyond the aforementioned industries, Guojin Securities also stated that the development of large models will accelerate the commodification and obsolescence of "simple applications." For applications possessing deep industry know-how, large models are not a threat but rather a key tool to consolidate their core advantages. Among these, AI in healthcare is transitioning from a single auxiliary tool to permeating full lifecycle management, and its monetization paths within manufacturing, management, and other scenarios exhibit significant potential.
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