Galaxy Securities: Large potential space for volume and price, optimistic about the development prospects of AI tools.

Galaxy Securities research report stated that currently, domestic AI tools are rapidly occupying the market with a low-price strategy, cultivating user habits. This "low-price customer acquisitionfunction optimizationvalue upgrade" path conforms to the common development logic of internet products, providing the possibility of long-term profitability. The large population base and digital demand in China provide a fertile soil for AI tools. With the popularization of AI technology, more users will shift from basic functions to advanced AI applications, further increasing penetration rate. Galaxy Securities believes that domestic AI tools, with the early accumulation of user base and the continuous improvement of penetration rate, are expected to achieve sustained growth in commercial value in technology iteration and market expansion, becoming an important force in the global AI application market.