CITIC Securities: Continues to recommend the AI computing power sector.

The report from Citic Securities Research believes that OpenAI's release of GPT-5.2 is the strongest model series in the field of professional knowledge work to date. The United States will approve Nvidia's export of H200 chips to China. We continue to be optimistic about the AI computing power sector. In addition to being optimistic about the North American chain, it is also recommended to pay attention to the domestic chain. On the one hand, domestic chain companies have made many adjustments in the early stage, while North American chain optical module companies have recently reached new highs. On the other hand, with the improvement of domestic GPU capabilities and supply, as well as the release of H200, it is expected to accelerate the deployment pace of domestic AI computing infrastructure.