Orient Securities released a research report stating that by 2026, AI will transition from technological paradigm shifts and business logic reconstruction to industrial application implementation and global rule competition. As a significant industrial narrative direction, AI is expected to flourish across the board. Within the retail sector, multiple segments possess distinct AI-driven logic, with cross-border e-commerce and e-commerce services poised to benefit first, while AI smart glasses and AI hardware are also set to gain.
Recent AI application catalysts have been continuous, suggesting 2026 may witness a commercialization inflection point. 1) Zhipu AI and MiniMax were listed on the Hong Kong Stock Exchange on January 8th and January 9th, respectively. By the close on January 9th, their market capitalizations reached HKD 69.8 billion and HKD 105.4 billion, with MiniMax surging 109% on its debut. 2) On January 5th, the WeChat Mini Program platform officially launched an AI application and online tool growth plan, offering comprehensive support including cloud development resources, AI computing power, data analysis, commercial monetization, and traffic incentives. 3) In late 2025, Meta announced the acquisition of AI startup Manus (currently under review by relevant authorities), with a transaction value exceeding $2 billion (approximately RMB 14 billion), marking Meta's third-largest acquisition ever. 4) Upcoming AI application catalysts include: the 5th AIGC China Developers Conference in Beijing on January 17th; Volcano Engine, as the exclusive AI cloud partner for the 2026 Spring Festival Gala, will be deeply involved in the show's programming, online interactions, and video livestream; DeepSeek is expected to launch its new flagship AI model, DeepSeek V4, around the Lunar New Year in mid-February, featuring enhanced programming capabilities.
AI + Cross-Border E-commerce: B2B Pioneers New AI Traffic Inlets, Transitioning from SEO to GEO. 1) The report posits that AI tools can empower various segments like content creation, customer service, and translation, thereby boosting work efficiency. Furthermore, by analyzing massive datasets, they strengthen inventory management. Crucially, B2B platform searches are pioneering new AI-driven traffic inlets, moving from Search Engine Optimization (SEO) to Generative Engine Optimization (GEO). 2) China Small Commodity City Group: Over 30,000 merchants utilize AI tools to assist operations; the cumulative usage of its self-developed AI applications has surpassed 1 billion times, with users exceeding 260,000. It is collaborating with Alibaba and Qunke Technology to advance AI ecosystem development. 3) Focus Technology: As of the end of Q3 2025, the number of paying members on the Made-in-China.com platform was 29,214, with 15,687 members having purchased the AI-powered "Mike" service, indicating a penetration rate exceeding 50%. 4) Huakai Yibai: Leveraging its self-developed "Yibai Cloud" intelligent enterprise management platform, the company has established a series of core information systems. 5) Jinhong Stock: Its "product-finds-customer" model relies on the self-developed "Giikin" system, which uses AI algorithms to analyze markets and user profiles, enabling intelligent end-to-end operations from product selection and content generation to advertising placement.
AI + E-commerce Services: E-commerce platform searches transition from SEO to GEO, granting TP companies a distinct first-mover advantage. 1) The report suggests that Third-Party (TP) service companies use AI tools to deeply analyze consumer shopping preference data, preferentially displaying products of interest and pushing product information to enhance purchase intent and customer lifetime value. By optimizing brand content and data to influence Large Language Model (LLM) cognition and judgment, they achieve a new marketing paradigm where the answer is the brand. 2) Aokum Technology: It has independently developed technological tools and systems including Data Mill, Aokum OMS, Aokum Woodpecker, and Aokum Qingling, building a long-term capability to adapt to the development of underlying model technologies and laying a solid foundation for accelerating AI application in e-commerce operations. 3) OneNet One Creation: As one of Alibaba's first Agent cooperation service providers, it has initiated the construction of a GEO-related team led by professionals with an Alibaba background. Subsequently, a complete business team will be built around this core, enabling it to gain more resources, permissions, and scenario opportunities through co-creation, forming a differentiated competitive advantage. 4) Kaichun Shares: It established an "AI Intelligent Laboratory" and is actively deepening its strategic cooperation with Alibaba, becoming one of the first batch of ecological Agent cooperation service providers.
Investment Recommendations and Targets. AI + Cross-Border E-commerce: B2B-related targets include China Small Commodity City Group and Focus Technology; B2C-related targets include Huakai Yibai and Jinhong Stock. Additionally, brand-oriented companies such as Anker Innovations, Ugreen Group, and ZEALOT Technology also possess the logic of AI-driven business efficiency improvements. AI + E-commerce Services related targets: Aokum Technology, OneNet One Creation, Lilang Lizhuang, and Kaichun Shares.
Risk warnings include intensified industry competition, slower-than-expected commercialization of AI applications, and lower-than-expected penetration rates for smart glasses.
