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The qubit data shows that as of the end of November, the cumulative user scale of Bean Bag APP has successfully exceeded 160 million in 2024, and the average daily download volume of new users has remained stable at 800,000, making it the second-ranked AI app in the world and the first in China.Great Wall Securities said that the competition of GM's big model has slowed down, and manufacturers have paid more attention to the application side. In 2025, with the wide spread of AI agents, AI is expected to be better integrated with people's work and life, and more explosive AI applications will be born. With the continuous improvement of the Interim Measures for the Management of Generative Artificial Intelligence Services, the commercialization of model layer and application layer in China is expected to further accelerate and enter the performance cashing period.Great Wall Securities said that the competition of GM's big model has slowed down, and manufacturers have paid more attention to the application side. In 2025, with the wide spread of AI agents, AI is expected to be better integrated with people's work and life, and more explosive AI applications will be born. With the continuous improvement of the Interim Measures for the Management of Generative Artificial Intelligence Services, the commercialization of model layer and application layer in China is expected to further accelerate and enter the performance cashing period.

Great Wall Securities said that the competition of GM's big model has slowed down, and manufacturers have paid more attention to the application side. In 2025, with the wide spread of AI agents, AI is expected to be better integrated with people's work and life, and more explosive AI applications will be born. With the continuous improvement of the Interim Measures for the Management of Generative Artificial Intelligence Services, the commercialization of model layer and application layer in China is expected to further accelerate and enter the performance cashing period.[Panorama of bean bag concept! 】Great Wall Securities said that the competition of GM's big model has slowed down, and manufacturers have paid more attention to the application side. In 2025, with the wide spread of AI agents, AI is expected to be better integrated with people's work and life, and more explosive AI applications will be born. With the continuous improvement of the Interim Measures for the Management of Generative Artificial Intelligence Services, the commercialization of model layer and application layer in China is expected to further accelerate and enter the performance cashing period.

Great Wall Securities said that the competition of GM's big model has slowed down, and manufacturers have paid more attention to the application side. In 2025, with the wide spread of AI agents, AI is expected to be better integrated with people's work and life, and more explosive AI applications will be born. With the continuous improvement of the Interim Measures for the Management of Generative Artificial Intelligence Services, the commercialization of model layer and application layer in China is expected to further accelerate and enter the performance cashing period.Great Wall Securities said that the competition of GM's big model has slowed down, and manufacturers have paid more attention to the application side. In 2025, with the wide spread of AI agents, AI is expected to be better integrated with people's work and life, and more explosive AI applications will be born. With the continuous improvement of the Interim Measures for the Management of Generative Artificial Intelligence Services, the commercialization of model layer and application layer in China is expected to further accelerate and enter the performance cashing period.Great Wall Securities said that the competition of GM's big model has slowed down, and manufacturers have paid more attention to the application side. In 2025, with the wide spread of AI agents, AI is expected to be better integrated with people's work and life, and more explosive AI applications will be born. With the continuous improvement of the Interim Measures for the Management of Generative Artificial Intelligence Services, the commercialization of model layer and application layer in China is expected to further accelerate and enter the performance cashing period.