Guoyuan Securities: Kimi K2 Thinking Model Released, Bullish on AI Applications and Other Themes

Stock News11-11

Guoyuan Securities released a research report highlighting the October AI application rankings (APP-side data), with ChatGPT, Doubao, Quark, Baidu Netdisk, and Gemini ranking as the top five globally. Doubao surpassed Quark to become the domestic app with the highest MAU, reaching 159 million, a 6.28% month-on-month increase. Among native AI applications, Tencent Yuanbao recorded 73 million MAU, Deepseek had 72 million MAU, and ByteDance’s Ji Meng AI reached 45.11 million MAU in October, up 5.16% month-on-month. The firm remains optimistic about themes such as AI applications and cultural globalization, focusing on sub-sectors like gaming, IP, short dramas, and publishing. Key stocks to watch include Giant Network (002558.SZ), Kingnet (002517.SZ), Yaoji Technology (002605.SZ), Chinasoft International, G-bits, Zhejiang Daily Media, Perfect World, Kuaishou, Meitu, Heartcore, Shanghai Film, Mango Excellent Media, Southern Media, and Wanxin Media.

Guoyuan Securities’ key insights are as follows: **AI Applications**: The October AI app rankings show ChatGPT, Doubao, Quark, Baidu Netdisk, and Gemini leading globally. Doubao’s MAU growth highlights its dominance, while Tencent Yuanbao and Deepseek maintain strong user bases. In AI-related developments, OpenAI partnered with Amazon for a $38 billion computing collaboration, Kimi K2 Thinking was released as open-source, iFlytek launched Spark X1.5 and other AI products, and OpenAI introduced GPT-5-Codex-Mini.

**Gaming**: According to Qimai data, the iOS game bestseller list on November 6 featured *Honkai: Star Rail*, *Honor of Kings*, and *Delta Force* as the top three. *Supernatural Action Group* introduced a new character, "Lan," and launched a second collaboration event, maintaining a ranking between 15th and 25th. G-bits’ *Staff & Sword Legend* ranked around 40th. Shengqu Games partnered with Mango TV to explore mini-games, while 37 Interactive Entertainment received a regulatory penalty. Bilibili’s single-player game *Escape from Yakov* surpassed 3 million sales.

**Film & TV**: The weekly box office (November 1–7) totaled 207 million yuan, with *Improvised Murder* leading at 42.11 million yuan (20.3% of weekly revenue). Upcoming releases (November 11–15) include *Demon Slayer: Infinity Castle Chapter 1 – Akaza’s Return* and *Now You See Me 3*, which have high anticipation with 579,000 and 284,000 pre-sale views on Maoyan, respectively. *Zootopia 2* is set for November 26, and *Avatar: Fire and Ash* will debut on December 19, signaling a strong pipeline for imported films.

**Risks**: Regulatory uncertainties and potential delays in AI advancements remain key concerns.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment