On July 31, the computing power industry chain witnessed a collective surge, with notable performers including Dongxin Semiconductor, Foxconn Industrial Internet, Yangtze Optical Fiber and Cable, and Cambrian-U. Recently, technology titans such as Microsoft and Meta have ramped up their AI capital expenditures.

Amidst current technological advancements, the industry experiencing the most significant rise and strategic importance is undoubtedly the new wave of information industry revolution spearheaded by artificial intelligence.

From the perspective of performance delivery and investment rationale, the industrial revolution sparked by information and communication technologies inevitably involves investments and breakthroughs in upstream hardware and other foundational infrastructure. In recent years, the upstream computing power industry has emerged as the primary beneficiary in the global AI landscape, propelling the AI industry chain encompassing optical modules and AI servers in the A-share market.

Following the explosion of AI infrastructure, such as computing power, the focus of the industry chain in 2025 is likely to shift to downstream application areas. Among the myriad of AI applications, the one with the most promising potential gap may be the fusion of traditional industries with AI, the profound integration of artificial intelligence with the real economy. By leveraging AI technology to achieve cost reduction and efficiency enhancement, even a 1-percentage-point increase in gross profit margin can translate into significant growth at the net profit level.

For instance, the chemical company Sanlian Hongpu, through collaboration with Huawei, has infused AI into production processes and product development, leading to substantial cost savings and efficiency gains. In recent years, its gross profit margin has risen by 6 percentage points, and its net profit has nearly doubled. Similarly, the clothing customization firm Kute Smart, empowered by AI agents, offers innovative services such as intelligent body measurement and interactive design, contributing to cost reduction and efficiency improvement. Its sales gross profit margin has increased by nearly 10 percentage points in recent years, and its net profit has nearly tripled.

From an investment standpoint, when traditionally undervalued industry companies venture into emerging fields or are empowered by new technologies, even if their performance has yet to materialize, the valuation accorded by the capital market tends to surge immediately.

Reflecting on the wave of mobile internet applications that commenced in 2012, internet super apps and internet+ were the primary avenues for the birth of super giants and super bull stocks. The AI application wave that began in 2025 could similarly spawn domestic AI giants nearing a trillion-dollar market valuation, alongside AI+ leaders experiencing nearly 100-fold market value growth.

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