CITIC Construction Investment: DeepSeek announces details of cost and profit margins, accelerating the implementation of AI downstream application scenarios

According to the CITIC Construction Investment Research Report, DeepSeek discloses the profit cost rate, the theoretical cost rate is as high as 545%, and the model manufacturer's profit model realizes a closed loop. From the perspective of industry demand, there is a large space for the cost of the model link to go down and the ability to go up, which is expected to promote the accelerated release of downstream application AI demand and further open up the market upward space. From the perspective of application scenarios, the government affairs, finance and medical care industries have strong initiative and rich scenarios, and are expected to be the first to achieve commercialization. Recommend a) OA + ERP; b) 2C companies in vertical fields; c) education and medical scenarios that can generate new revenue; 2) The increase in demand for model privatization is beneficial to all-in-one machines, hyper-converged and B-end service outsourcing enterprises; a) Recommend servers, all-in-one machines, hyper-converged and other related targets; b) Finance, government, energy and other fields that rely on software customization more; c) Hashrate leasing and IDC targets are also worthy of attention.