Sealand: Smart Chart DEEP RESEARCH+OPERATOR opens a new phase of intelligent body, expected to bring about a restructuring and upgrading of the software industry's value.

Sealand released a research report stating that Zhipu is expected to accelerate the development of the Agent industry through the creation of a new paradigm of Deep Research + Operator and is expected to bring about a value reconstruction upgrade in the software industry in the future, maintaining a "recommended" rating for the computer industry. The main points of Sealand are as follows: Zhipu releases AutoGLM meditation, Agent capabilities break through again AutoGLM meditation combines deep research capabilities (Deep Research) with actual operations (Operator), pushing AIAgent into the stage of "thinking and doing on the go". The technological evolution path of AutoGLM meditation includes: GLM-4 base model GLM-Z1 reasoning model GLM-Z1-Rumination meditation model AutoGLM model. The Zhipu AutoGLM meditation model GLM-Z1-Rumination breaks through the traditional AI's reliance on internal knowledge reasoning limitations and innovatively combines real-time online search, dynamic tool invocation, deep analysis, and self-verification to form a complete independent research process. In the GUI intelligent agent field, GLM-PC (CogAgent) has achieved SOTA results on multiple authoritative evaluation lists. At the same time, Zhipu will actively help ecological partners to build intelligent agent applications with deep integration of industry, region, and scene. Applications have been promoted in the fields of finance, education, healthcare, government affairs, and enterprise services. AutoGLM integrates Deep Research + Operator, creating a new paradigm for Agents The Zhipu AutoGLM meditation combines the capabilities of Deep Research + Operator. The core idea of DeepSearch is to continuously cycle through searching, reading, and reasoning phases until the optimal answer is obtained; By 2025, Deep Research functionality has gradually become a standard feature of model search capabilities, with major players such as OpenAI, Google, xAI, and Perplexity actively deploying. Operator generally involves autonomously completing tasks such as web interactions, typing input, and simulating human-computer interactions; the progress of this Agent paradigm has been accelerated by the release of operators by OpenAI and computeruse by Anthropic. In November 2024, Anthropic launched the MCP protocol, which provides standardized interaction interfaces for AI models with external tools and data sources, and OpenAI also announced its formal support for the MCP protocol, bringing new progress to the integration of intelligent agents with third-party tools and accelerating the development efficiency of complex automation applications. Zhipu accelerates Agent industry through open source, universal + vertical Agent may be the future direction On April 15, 2025, Zhipu announced the open-source release of its latest GLM model series, including 32B and 9B sizes, covering base, reasoning, and meditation models, all following the MIT open-source license agreement and freely open for commercial use; the industry believes that this move is expected to accelerate the landing and commercial application of Agents. At the ecosystem level, Zhipu will build the AgenticLLM platform to accelerate ecological partners in utilizing Zhipu models and intelligent agents to build applications; in terms of industry ecology, collaborations have already been accelerated in the fields of finance, education, healthcare, government affairs, and enterprise services. In the future, companies that control traffic and have ecosystem access may become the main players in general Agents, but vertical players with access to user data/production data and industry know-how will also emerge as vertical Agent players. In terms of market space, the landing of B/C-end Agents is expected to accelerate the reconstruction of the software ecosystem; on the one hand, it achieves a value reconstruction of SaaS applications; on the other hand, it accelerates traditional industry transformation and upgrading. According to data from the Jueyan Tianxia official account, the compound annual growth rate of China's AIAgent market size from 2023 to 2028 is expected to be 72.7%, with the market size reaching 852 billion yuan in 2028. Investment recommendations 1) 2G applications: China National Software & Service, Taiji Computer Corporation, Shensangda, CETC Digital Technology, GRG Banking Equipment, Beijing Egova, Geovis Technology Co., Ltd., Guotai Epoint Software, SDIC Intelligence Xiamen Information, Cloud Technology, Servyou Software Group, Aisino Co. Ltd., TRS Information Technology, Nancal Technology, Fujian Boss Software Corp., Beijing Thunisoft, Nanjing Tdh Technology, Shanghai Golden Bridge InfoTech; 2) 2B applications: KINGDEE INT'L, Yonyou Network Technology, INSPUR DIGI ENT, CHINASOFT INT'L, Weaver Network Technology, Beijing Seeyon Internet Software Corp., Winning Health Technology Group, Glodon, Beijing Shiji InformationTechnology, MING YUAN CLOUD, Shanghai Newtouch Software, Hand Enterprise Solutions, Ding Jie Software, Guangzhou Sie Consulting, Nanjing Les Information Technology, East Money Information, Hithink RoyalFlush Information Network, Hundsun Technologies Inc., Yusys Technologies, Newcapec Electronics, Chengdu Jiafaantai Education Technology, Ygsoft Inc., Shanghai Suochen Information Technology, ZWSOFT, Bairong Cloud, Zhejiang Top Cloud-Agri Technology, Focus Technology, Maxvision Technology Corp.2C applications: Beijing Kingsoft Office Software, Inc, 360 Security Technology Inc, Wondershare Technology Group, Fujian Foxit Software Development Joint Stock, Intsig Information. Risk warning: Slow development of the big model industry; intensification of Sino-US competition; downstream demand affected by macroeconomic factors; intensified market competition; performance of relevant target companies falling short of expectations; domestic and foreign companies not completely comparable.