Zheshang Securities released a research report stating that on August 31, the first batch of large models of 8 manufacturers passed the Interim Measures for the Management of Generative Artificial Intelligence Services (hereinafter referred to as the Interim Measures) and can be officially launched to the public. At the same time, 360 Smart Brain, Xunfei Spark, and Ali Tongyi Qianwen will also be opened to the outside world. More than ten large models in China will be filed through the Interim Measures. It is expected that the AI application ecology will accelerate under the resonance of policy demand. On the one hand, the regulatory policy of the big model is constantly improving, and the point of full commercialization is approaching. On the other hand, the bank expects large model application products from domestic software manufacturers to be released intensively in the second half of the year.

The main points of view of Zheshang Securities are as follows:

The first batch of 8 manufacturers' large models have successfully passed the filing, and 3 manufacturers have opened their services to the whole society

The first batch of eight large models passed the "Interim Measures" for the record, they are Shang Tang's "negotiation SenseChat", MiniMax ABAB model, Shanghai artificial intelligence laboratory's "scholar" general model, Baidu Wen Xin Yan, trembles "skylark" model, Baichuan intelligent "Baichuan" model, Zhipu Hua Zhang "Zhipu Qing Yan" and the Chinese Academy of Sciences's "Zidong Taichu" model. Among them, Baidu, Baichuan Intelligence and Shang Tang have announced the adoption of the filing of a large model for the whole society open services.

More large models of manufacturers are expected to be filed through the Interim Measures, and the process of ecological construction of large models will be accelerated

according to the "sco board daily" news, in addition to the first batch of 8 large models to be launched, 360 smart brain, xunfei spark and Ali tongyi qianwen will also be opened to the outside world. more than 10 large models in China will be put on record through the "interim measures" one after another. at present, xunfei spark tentatively plans to open its service to the whole society on September 1, and 360 smart brain is also preparing to be officially launched.

the "filing system" promotes the innovation and development of AI industry, and the formation of AI application ecology accelerates under the resonance of policy demand

The line thinks:

1) The "filing system" reflects the national policy level and aims to provide a good development environment for the development of artificial intelligence industry and technological innovation. A few days ago, the National Cyberspace Administration of China, in conjunction with the National Development and Reform Commission, the Ministry of Education, and the Ministry of Science and Technology, announced the "Interim Measures", which will come into effect on August 15. Among them, Article 17: those who provide generative artificial intelligence services with the attribute of public opinion or the ability of social mobilization shall carry out security assessment in accordance with the relevant provisions of the state. and in accordance with the provisions on the Administration of Internet Information Service algorithm recommendation to perform the procedures for algorithm filing, change and cancellation of the record.

2) The bank expects the formation of an accelerated AI application ecology under the resonance of policy demand. On the one hand, the regulatory policy of the big model is constantly improving, and the point of full commercialization is approaching. On the other hand, the bank expects large model application products from domestic software manufacturers to be released intensively in the second half of the year. The bank has seen a number of listed companies hold AI product launches recently. The bank believes that software companies have deeply explored the needs of government or enterprise customers in large models, and have begun preparations and plans, which are expected to enter the commercial landing stage in the second half of the year.

recommended target: 1)AI application is expected to accelerate its landing. it is suggested to focus on AI office, AI education and AI government affairs: AI office: Jinshan office (688111.SH), caixun stock (300634.SZ), zhiyuan interconnection (688369.SH);AI Education: HKUST Xunfei (002230.SZ);AI Government Affairs: New Point Software (688232.SH), Z13s (Zs): yuxin Technology (300674.SZ), Zhongke Soft (603927.SH), Hang Seng Electronics (600570.SH);AI remote sensing: space macro map (688066.SH), zhongke star map (688568.SH);AI Security: Meiyabaike (300188.SZ);

2) continue to be optimistic about the large model training iteration on the growth of computing power demand: optimistic about the filing of Baichuan large model computing power leasing service provider Hongbo shares (002229.SZ), recommended to pay attention to the wave information (000977.SZ), Zhongke Shuguang (603019.SH).

Risks: 1) Risks of less than expected iterations of AI technology: 2) less than expected releases of AI commercial products; 3) Risks from policy uncertainty; 4) Risks from downstream market uncertainty;