Zhaoshang Securities International: DeepSeek Model and Harness Framework Released, Open-source Ecosystem Leading to Continuous Improvement of Domestic Model Competitiveness

The report published by CITIC Securities International indicates that on the evening of August 13, DeepSeek released and open-sourced the developer preview version v0.1 of DeepSeek Harness, licensed under the MIT protocol. The firm believes that the strategic intention of DSH is to move from the model layer to the framework layer, aiming to become the Android of the Agent era. By defining operational standards for dynamically composable Agents, it seeks to enhance ecological definition power and developer engagement. The report points out that the iteration of domestic models is accelerating, and AIs main investment targets continue to benefit. Commercialization of inference has entered a new stage: price increases and peak-valley pricing represent the first systematic price adjustment of leading domestic models, validating that inference demand exceeds expectations and that computational power supply is tight. This is favorable for the inference computational power industry chain and opens up space for subsequent price increases of domestic models. In terms of competition, as model capabilities converge, competition is shifting from the model layer to the framework layer/application layer, with engineering capabilities and developer ecosystems becoming new moats. The report will continue to monitor the iteration of leading domestic models such as Zhipu GLM, MiniMaxM3 Pro, Tencent Hengyuan 4, and Alibaba Qianwen 4, as well as the commercialization progress of Agent products and the expansion of commercial scenarios.